A. Juliana invested P700,000. B. Airplane was purchase by business for P 450,000. C. Equipment purchase on credit for 8,000. D. A bill of P7,000 for transporting goods was sent to Mrs. Edge, a customer. E. Cash of P6,000 is received from Mrs. Edge. F. Received P20,000 in cash for transporting goods. G. A payment of P6,000 was made on the equipment purchased in c. H. Paid expenses of different types for P1,500 in cash. 1. Equipment of P1,000 was withdrawn from business for Naz Roby's personal use. | Owner's equity assets AIRPLAN ACC RECEIVABL kabilities ACC PAYABLE CASH EQUIPME NT a bal bal bal bal bal bal bal bal bal ТОTAL

A. Juliana invested P700,000. B. Airplane was purchase by business for P 450,000. C. Equipment purchase on credit for 8,000. D. A bill of P7,000 for transporting goods was sent to Mrs. Edge, a customer. E. Cash of P6,000 is received from Mrs. Edge. F. Received P20,000 in cash for transporting goods. G. A payment of P6,000 was made on the equipment purchased in c. H. Paid expenses of different types for P1,500 in cash. 1. Equipment of P1,000 was withdrawn from business for Naz Roby's personal use. | Owner's equity assets AIRPLAN ACC RECEIVABL kabilities ACC PAYABLE CASH EQUIPME NT a bal bal bal bal bal bal bal bal bal ТОTAL

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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 Profit & Loss and Statement of…
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The following transactions were extracted from the books of Kwabeng enterprise for February 2020 February Commenced business with a capital of GHC15,000 cash 05 03 Purchased good GHC6,000 Purchased goods on credit from S & Co. GHC3,000 07 10 Purchased furniture GHC2,400 Returned goods to S & Co. GHC600. Sold goods GHC3,900 10 11 12 Received an invoice from Smith GHC5,000 15 Sold goods on credit to DD GHC2,250 Paid salaries GHC960 20 22 Purchased a van GH€50,000 on credit from Silver Star Auto Ltd. 24 Received commission GHC75 25 Goods returned by DD GHC450 25 Received cash from DD GH€1,500 26 Paid to S & Co. GH€1,800 Withdrew from business GHC900 for personal use Borrowed from KK GHC1,500 27 28 Required: 1. Record the above transactions in the appropriate journals 2. Post entries to relevant ledger accounts 3. Prepare a trial balance.
Question 1 The following are the business transaction of Gin Heng Electrical Sdn.Bhd in September 2020: Date Transaction Document 01/09/2020 Invested the business with RM20,000 of capital into Bank in Slip Maybank and RM6,000 as cash in hand. 02/09/2020 Bought office equipment for business use by cash Receipt RM1,500. 03/09/2020 20 units of Penasonex air conditioner are bought on Purchase Invoice credit from Suzie for RM20,000. 04/09/2020 Eric withdrew cash amount RM500 for personal use. Receipt 05/09/2020 Purchased 20 units of Khund electrical kettle from Purchase Invoice Juliana that costs RM100 for each. 06/09/2020 Sold 16 units of Penasonex air conditioner on credit to Sales Invoice Econez with amount of RM24,000. 07/09/2020 Return 2 units of Penasonex air conditioner to Suzie with Debit Note the total amount of RM2,000. 09/09/2020 Return 4 units of damaged Khund electrical kettle to Debit Note Juliana. The total amount is RM400. 10/09/2020 Sold 14 units of Khund electrical kettle…
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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…
Directions: Record the following transactions in the appropriate journals. Lloyd Gurango Co. completed the following sales transactions during the month of June 2021. A credit sales have terms of 3/10, n/30, and all invoices are dates as at the transaction date. June 1 4 7 9 13 ಈ 15 18 20 Mr. Gurango invested P52 000 of his funds in the business Sold merchandise on account to KRA Company, P32 000. Invoice number 377 Sold P46 000 of merchandise for cash. Received payment from KRA Company, fewer discounts. Received payment from LRM Trading, fewer discounts. Sold merchandise to JPT Store on account, P62 000. Invoice number 379. Collected the amount due from JPT Store. Fewer discounts. Paid the employees' wages for the month amounting to P5,000 Acquired merchandise to YMC Trading worth P15, 000 payable next month Acquired merchandise on credit from ABS Manufacturing worth P15, 000. The invoice number is 201 and the credit term is n/30
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.
A. Cash Discount1. An invoice for Php 70 250 dated March 25, terms 5/10, 2/30, n/60, is paidin full on April 20. What is the total amount paid to settle the account?2. Ms. Garcia received an invoice dated April 18 amounting to Php 30 123for her orderedplants. The invoice comes with cash discount terms, 5/5, 2/15, n/30, R.O.G.The plants were received on April 25. If she paid on May 12, how much did she pay?