0B olfice Supplies trade in all office supplies The foll oming transaction took place on 4 Maich 2020 AB OffiCe supplies Ruchases mechandise cash Rs 200 In which subsidiart journal will fou record this tran- Sacton, 2)B Ofice Supplies trade in all ofce Supples The followng transaction took place on is Maich 2020 A recei vable retums part of the Stalionat puichased by In which subsickayjouinal will you record this transaction? louinor Fropisans yonym ui 00e d uny
Q: 1) Machinary is purchased for 196.000 TL + %10 VAT , Check is issued . Transportation and…
A: Journal is the recording of financial transactions in the serial order by following the dual entity…
Q: 7.Rasheed Company uses net method to record the sales made on credit. On June 30, 2019, it made a…
A: Journal entries: Journal entries are the beginning stage of accounting process. Journal entries are…
Q: businessman who buys packages of goods and wholesales the package for cash. Hi
A: These are the accounting transactions that are having a monetary impact on the financial statement…
Q: On April 5, 2020 Company A sell merchandise to Company L for P50,000 under the terms: 2/10, n/30 FOB…
A: Under FOB shipping point, the freight charges are paid by the buyer.
Q: n January 01, 2020 Kitkat Company, Inc. establishes a branch in Buang. During the year, Kitkat Inc.…
A: Branch accounting is a bookkeeping approach that keeps separate accounts for each of an…
Q: Wise Company, a VAT registered company, sold merchandise totaling P90 000 ( 12% VAT exclusive) under…
A: FOB (Free on Board) shipping point where the seller pays the cost of transportation as well as fees…
Q: Rasheed Company uses net method to record the sales made on credit. On June 30, 2019, it made a…
A: As per net method, the payment is made net of the discount amount if the payment is made within 15…
Q: Trading company Andin in September 2020, recorded the following transactions: Date Information…
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: Q7. Q7. Rasheed Company uses net method to record the sales made on credit. On June 30, 2019, it…
A: Note: Since you have asked multiple question, we will solve the first question for you. If you want…
Q: 1) Machinary is purchased for 196.000 TL + %10 VAT , Check is issued . Transportation and…
A: Journal entries : 1. Machinery is purchased Cost of machinery = 196000 TL Vat = 10% Transportation…
Q: From the following particulars of Al Zahra LLC for the year 2019, a. Al Zahra LLC. sold goods to…
A: For preparing the journal entries following calculations are done:- Note 1: Particulars Total…
Q: Joseph Corporation a mobile phone wholesaler sells mobile phones to PhoneTech Ltd, a mobile phone…
A: Journal entry is record of Transaction in Accounting records In Case of Net Method to record…
Q: Directions: Post each journal entry to its corresponding ledger. Write your answers on a separate…
A: The T-accounts are prepared to post the transactions to their specific accounts from the journal…
Q: Question 1 Geranium Traders is a clothing store in Diepkloof. It is owned by Petunia Mokoena.…
A: The double entry system in accounting is the system of recording a transaction in books of accounts.…
Q: Twinky Trading sells an item for RM 3500 less 20% and 15%. Find the net price. 2.b) A retailer…
A: Here, Details of 2.a) is as follows: Sale Price of Item is RM3500 Discount is 20% and 15% Details of…
Q: 2021 Oct 31 Sold goods to Basic Foods, receiving a $31,000, three-month, 6% note. (You do not…
A: Interest accrued on Dec 31, 2021 = Face value of notes x rate of interest x no. of months/12 =…
Q: Date Information tember 2 Purchased merchandise from PT of IDR 750,000, - terms payment of 2/10, n/…
A: Special journal is a statement in which financial transactions are summarized in one line and the…
Q: Joint Operation for 2018 Debit: Nov. 6 Mercandise-Peter ₱8,500 8 Mercandise-Neil…
A: Hence gain is ₱ 5,970 which is calculated by deducting income from expenses.
Q: Question 1: Basra Company has the following transactions: 1- On 1/4/2009 purchased goods for ID…
A: Journal entries form the basis for financial reporting. These record the day-to-day transaction of…
Q: POST EACH JO URNA L ENTRY TO ITS CORRES PONDING LED GER. WRITE YOUR ANSWERS 6H SEPARATE OF PAPER THE…
A: In an accounting system, business transactions are recorded in general journals and general ledgers.…
Q: 10 Assume that Mr Ahmed purchased OMR 3000 goods from ABC LLC on credit. He paid the entire cash to…
A: When goods are sold on credit to customers, then it will increase accounts receivables of the…
Q: A company’s trade payables account at 30 September 20X1 is as follows: TRADE PAYABLES ACCOUNT $ $…
A: We have the following information: Cash at bank: $21,600 (Debit) Balance B/d: $14,000 (Credit)…
Q: 2021 Oct 31 Sold goods to Basic Foods, receiving a $31,000, three-month, 6% note. (You do not…
A: Interest accrued on Dec 31, 2021 = Face value of notes x rate of interest x no. of months/12 =…
Q: 2021 TRANSACTIONS ugust 1 Phil Trading purchased merchandise from Webb Inc., P5,000; terms: 2/20,…
A: Journal Entry The purpose of preparing the journal entry to segregate the transaction which are…
Q: The April 2014 trensectivns ofBudget Driving Institute owned end managed by Crispin Rusales ure…
A: Journal entries are the primary reporting of the transactions in books of accounts so as to maintain…
Q: Gear Company’s accounts payable balance at December 31, 2021 was P1,100,000 before considering the…
A: Accounts payable is amount due to suppliers for purchase of goods and…
Q: 2. RST company's transaction during the month of May, 2021 are as follows: (Assume the company is a…
A: The balance of VAT payable would increase on sales and reduce by VAT paid on purchases. The…
Q: Directions: Post each journal entry to its corresponding ledger. Write your answers on a separate…
A: The T-accounts are prepared to post the transactions to the specific accounts of the business.
Q: On May 4, 2022, Beetle Company purchased merchandise worth $32,000 on credit from Meadow, Inc.,…
A: Free on board" refers to who is responsible for things that are damaged or destroyed during…
Q: credit term followed as 4/10/EOM. a.
A: Here we have been given that the terms of sale are 4/10/EOM. That means the buyer who paid within 10…
Q: Multiple-Step Incor On March 31, 20Y4 wholesaler, are as f Accumulated Deprecia Administrative Exp…
A: Multistep income statement is prepared for calculation of net income by segregation of operating…
Q: ournalizing and Posting On September 18, 2019, Afton Company purchased $3,180 of supplies on…
A: a. JOURNAL Page 87 Date Description Post. Ref. Debit Credit Sept 18,2019 Supplies…
Q: Identicy the accound and tebited in the following d identify the ty Pe of Voucher and Lentify that…
A: Account means the systematic record of various transactions entered by businesses. Income statement…
Q: On 15.08.2021, an advance payment of 12.000 TL was made from the bank account of the enterprise to…
A: Journal Entry The basic process accounting work is to provide the required journal entries to the…
Q: b) Pacifica Fitness Ltd sold 15 packages advance and receive first payment on 30 May 2023. The…
A: Solution : b) Pacifica Fitness Ltd sold 15 packages advance and receive first payment on 30 May…
Q: Prepare the correct Creditors Control account for May 2020 after taking into account the additional…
A: Creditors Control Account Date Particulars Amount Date Particulars Amount May 2020 Debtors…
Q: Indicate the transaction price for this situation and when revenue will be recognized Groupo sells…
A: As per IFRS 15 ( Revenue from contracts with customers ) Under IFRS 15 revenue has to be recognized…
Q: EXPLANAHON JR DEBIT CREDIT - THE BUSINESS ACQUIRED DEFICE FQUIPMTENT AND FURMITHIRE WORTH P251000…
A: 5) Journal Entry : Page : 2 Date Account Title PR Debit Credit Dec 12,2018 Equipment 106…
Q: Prepare journal entries to record the following transactions entered into by the Castagno Company:
A: NOV 1 Account receivable Mercer Inc Dr. 18000 Sales Revenue CR…
Q: Lloyd Gurango Co. completed the following sales transactions during the month of June 2019. All…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: 1. 1992 SL. March 01 Shakeel started business with cash Rs. 50,000 05 Purchased goods for cash for…
A: Journal entries: A journal entry is recorded for every business transaction. It is the first step in…
Q: 2019 Rs Business startid with Cauh Purchased goods for cash Sold goods to Swali Purchaned fan…
A: Steps in Journalising Step 1 - Work out the accounts that are affected by a transaction. Step 2 -…
Q: 3-5- 2017: Goods Purchas ed foom samaaJ On 51,000 Record the following txansactions. in kaM Ra…
A: A ledger is an accounting book that allows all journal entries to be transferred to individual…
Q: A trader provides the followny rnformationin Fe bruary 2017. Fèh 1: Balarce of a cash saso 2:Paid…
A: Ledger accounts in the accounting are based on the journal entries made as per double entry system.…
Q: Case From the following particulars of Al Zahra LLC for the year 2019, Al Zahra LLC.…
A:
Step by step
Solved in 2 steps
- Lucky House Ltd Trial Balance As at 30 September 2020 Account Debit(£) Credit(£)Cash at Bank 5,850Capital Account 15,000Machine 8,100Raw Materials 2,655Stationery 250Accounts Payable 6,545Rent 950Business Insurance 38Prepayments 1,362Sales Income 17,550Cost of Goods Sold 11,345Accounts Receivable 4,500Drawings 4,000Telephone 45Depreciation 135Accumulated Depreciation 135 Total 39,230 39,230 Prepare a statement of cash flow ?On 15 December 2020; Saadah Company purchased goods at the amount of 42500 OMR and paid 12500, the balance is on account. Which of the following is the correct journal entry for this transaction? Select one: O A. Date Accounts Debit Credit (RO) (RO) Goods 42500 30000 15.12.2020 Payable Cash 12500 О в. Debit Credit (RO) (RO) Date Accounts Payable 30000 15.12.2020 Cash 12500 Goods 42500 Date Accounts Debit Credit (RO) (RO) Payable 30000 15.12.2020 Cash 12500 Goods 42500 D. Date Accounts Debit Credit (RO) (RO) Goods 42500 30000 15.12.2020 Cash Payable 12500On 15 December 2020; Saadah Company purchased goods at the amount of 32500 OMR and paid 12500, the balance is on account. Which of the following is the correct journal entry for this transaction? Select one: O A. Debit Credit (RO) (RO) Date Accounts Goods 32500 20000 15.12.2020 Payable Cash 12500 OB. Accounts Debit Credit (RO) (RO) Date Goods 32500 20000 15.12.2020 Cash Payable 12500 Oc. Date Accounts Debit Credit (RO) | (RO) Payable 20000 15.12.2020Cash 12500 Goods 32500 OD. Accounts Debit Credit (RO) (RO) Date Payable 20000 15.12.2020Cash 12500 Goods 32500
- Trading company Andin in September 2020, recorded the following transactions: Date Information September 2 Purchased merchandse from PT. Agung ata price of IDR 750,000, - terms payment of 2/10, n/30 Sold to a Sumba shop for merchandise at a price of September Sth Rp.650,000, - terms payment 2/10, n/ 30 No. Invoice 021. Sold in cash to a Toba shop for merchandise ata price of Rp.475,000 Invoice No. 013 was sent to the Melati shop on the sale of goods at IDR B00,000, - payment terms 1/10, n/ 60. - Received from Mawar shop in the amount of IDR September 6 September 8 350,000 Purchased on credit from a Merapi shop, shop equipment for Rp. 125,000. Purchased from PD. Rinjani merchandise worth IDR 1,500,000, - terms of payment 2/10, n/ 60. Received from Sumba shop for invoice settiement on September 5, amounting to IDR 625,000 with 2% cash discount Purchased merchandise from Muria shop with 9 September 12 September September 14 15th of September payment terms 1/10, n/3o for IDR 900,000…MAKE THE NECCESSARY JOURNAL ENTRIES FOR THE FOLLOWINGTRANSACTIONS: 7) Customer transferred 85 .000 TL to the Bank, to close the openaccount 8 ) Customer ordered to purchase 270.000 TL + %10 VAT Merchandise .Customer issued 95.000 advance check for the order . 9) Land is Purchased for 2.850.000 TL + %10 VAT from X Company andBank transfer is made to X company. Real Estate Service Invoice is 80.000 + %10VAT.Half check is issued and balance is on account. Property tax is 70.000 TL ,paid cash.xamus - cdn.student.uae.examus.net/?rldbqn=1&sessi... ACCT101_FEX_2021_2_Male A company purchased merchandise on credit with terms Ac Payable if the company pays SR485 cash on this account within ten days? e18 3/15, n/3O. How much will be debited to 33 - 34 abe18ce33 b. Accounts Payable should be credited in а. 485 113:22 9 కోల С. 470.45 95abe18ce 33 d. 500 95abe18ce 95abe18ce33 95aber8ce33 95abe18ce33 95abe18ce33 95abe18ce33 MacBook Pro F3 888 F4 FS E 5 F7 67 7 V T. 8 A 9 Y 6. U 11 9.
- ab User Management,... H https://outlook.offi... FES Protection Plan System 7 - North C... Homework Exercises Saved Lewis Corporation engaged in the following transactions during June. DATE TRANSACTIONS 20X1 4 Purchased merchandise on account from Salinas Company; Invoice 100 for $1,005; terms n/30. 15 Recorded purchases for cash, $1,490. 30 Paid amount due to Salinas Company for the purchase on June 4. June Book Required: Record these transactions in a general journal. erences View transaction list Journal entry worksheet 1. 21 3 Paid amount due to Salinas Company for the purchase on June 4. Note: Enter cebits before credits.Trading company Andin in September 2020, recorded the following transactions: Date Information September 2 Purchased merchandise from PT. Agung at a price of IDR 750,000, - terms payment of 2/10, n/ 30 Sold to a Sumba shop for merchandise at a price of Rp.650,000, - terms payment 2/10, n/ 30 No. Invoice 021. Sold in cash to a Toba shop for merchandise at a price of Rp.475,000 Invoice No. 013 was sent to the Melati shop on the sale of goods at IDR B00,000, - payment terms 1/10, n/ 60. - Received from Mawar shop in the amount of IDR September 5th September 6 September 8 350,000 9 September Purchased on credit from a Merapi shop, shop equipment for Rp. 125,000. Purchased from PD. Rinjani merchandise worth IDR 1,500,000, - terms of payment 2/10, n/ 60. Received from Sumba shop for invoice settlement on September 5, amounting to IDR 625,000 with 2% cash discount Purchased merchandise from Muria shop with 12 September September 14 15th of September payment terms 1/10, n/ 30 for IDR 900,000…T. Bryan is a retailer whose Trial Balance at 2020 December 31 is given below:DR CR$ $Purchases and Sales 72 000 119 400Returns 750Carriage Inwards 930Wages and Salaries 27 670General Expenses 4 750Cash at Bank 4 210Cash in Hand 150Premises 62 520Fixtures and Fittings 9 000Inventory at 2020 January 01 5 550Accounts Receivable and Payable 7 200 4 850Motor Vehicle at cost 13 150Provision for Depreciation onMotor Vehicle at 2020 January 01 2 630Capital at 2020 January 01 82 500Drawings 3 000---------- ----------210 130 210 130====== ======The following additional information is available:1. Inventory at 2020 December 31 was valued at $5 200.2. General Expenses of $400 paid for the year 2021.3. A debt of $200 is to be written off as bad.4. Provision is to be made for doubtful debts of 5% on Accounts Receivables (after writing offthe Bad Debt of $200) at 2020 December 31.5. Depreciation is to be provided for 2020 as follows:Fixtures and Fittings at 10% using the straight -line method; Motor…
- Cajegas Trucking ServicesTrial BalanceJune 30, 2021Debit CreditCash in Bank P 1,020,000Petty Cash Fund 1,000Accounts Receivable 120,000Est. Uncollectible Account P 1,200Unused Supplies 15,000Prepaid Insurance 8,500Prepaid Rent 30,000Delivery Truck 1,500,000Acc. Depreciation – Delivery Truck 250,000Accounts Payable 130,000P. Cagejas, Capital 1,818,500P. Cagejas, Drawings 50,000Trucking Income 935,000Taxes and Licences 10,000Repairs and Maintenance 27,000Retainer Fees 25,000Salaries and Wages 320,000Utilities Expense 8,200Total P 3,134,700 P 3,134,700Additional Information1. Provision for Uncollectible Account should be at 2% of the outstanding receivable account.2. Supplies actually on hand, P5,000.3. Of the Prepaid Insurance, P6,200 has actually expired.4. P18,000 of the Prepaid Rental has expired.5. Depreciation Expense for the period is P105,000.Required:a. An 8-column worksheetb. Balance Sheetc. Income Statementd. Statement of Changes in Owner’s Equitycompany A issues an invoice upon selling its product to company bBelow is the information extracted from the invoiceprice : $ 100quantity: 50Term: n/3; 2/10date : 2022-oct-10 find the discount amount? and discount period?Pachel corpolatian re Ports the per teining vecevicable Days Past Due 3-60 followinginfamethon to iti accounts cuNent 1-30 ever90 $2500 1200. $2000 Jhe companys cradit depaltment Plovided the following statement estima ter vegarding the pocent of occounts enfc ted to eventuallyy be writtenoff form. each category current veceveiNable receivables -30 days past due listed aboue aut standing rELENables 31-ho days past due 16 feceivables 6L-G0 days Pajt due receivable Cuer 20 days due. 90 Recold the company's uncollectible account afsuming it hal expense fredit balance for in its llawance Deuhtful accounts pror to the necessaty maling endjustment.