ACCOUNT Land ACCOUNT NO. Balance Credit Debit Debit Credit Date Item Balance 156,000 Jan. Feb. Purchased for cash 10 246,000 402,000 Purchased with long-term Nov. 20 324,000 726,000 mortgage note
Q: 1) journal entries 1 Transferred cash from a personal bank account in exchange for stock, $50,000 2…
A: Introduction: Purpose of journal entry is recording each and every transaction of a business…
Q: Perpetual Inventories 1) Opening: Cash $ 300,000.00; Goods $ 600,000.00; Furniture $ 250,000.00. 2)…
A: In perpetual inventory, the inventory records are maintained up-to date and entries are posted at…
Q: Gmail Sta changes in equity Bo COSMETIC EXTRACT OF FINANCIAL INFORMATION AT 28 FEBRUARY 20.2: R 2…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: Account Cash Accounts Receivable Debit Credit 1. An analysis indicates that prepaid rent on December…
A: Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized…
Q: Journal transactions 5) Land is purchased for 1.395.000 TL + 10% VAT from Real Estate Company. Half…
A: Journal Entry:- These are prepared by the companies with debit and credit sides in order to match…
Q: 4. Purchased service vehicle for P150,000 wherein 1/3 was paid in cash and the balance by issuing a…
A: Cash paid = P150,000/3 = P50,000 Balance = P150,000 - P50,000 = P100,000
Q: SAP!! PLEASE Gulistan textile mills, INC.…
A: Adjusting entries are entries that are passed at the end of the period in order to accurately…
Q: 8 Capital (Drawings 00 Trade Receivables and Trade Payables Sales Revenue Cost of sales Wages…
A: A statement of financial performance is a statement that reflects all the income, revenue, and…
Q: ACCOUNT NAME Debit Credit Debit Credit Debit Credit Debit Credit Debit Cash $9,500 Notes Receivable…
A: The worksheet is prepared on the basis of given adjustments.
Q: Trial Balance as at 31 December 2020 Particulars Debit (RM) Credit (RM) Motor vehicles 65,000…
A: Income statement is a statement that helps in determining the income or the profit and loss of a…
Q: MCQS 1 Land is purchased by making a cash down payment of $40,000 and signing a note payable for the…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Complete journal entries to record the following transactions: Mar 8 Received a $33,000, 5%,…
A: Journal entries: A journal entry is recorded for every business transaction. It is the first step in…
Q: MCQS 1 Land is purchased by making a cash down payment of $40,000 and signing a note payable for the…
A: Since you have asked a question with multiple subparts, we will solve the first three subparts for…
Q: Question 1 The following balances have been extracted from the books of Alpha Berhad as at 31…
A: Financial Statement - Financial Statement of the company includes Profit and Loss Account, Statement…
Q: Post the transactions to General Journal Ali purchased land for Business for $35,000. Paid $20,000…
A: Accounts payable and notes payable are the liabilities of the business. These are credited when…
Q: Account Particulars Credit 5000 Date Debit Jan-02 Cash Manarang Capital (To record cash invested)…
A: Ledger is the main book or principal book of account. The entries are posted into ledger from…
Q: PARTNERSHIP OPENING ENTRIES On July 1, 20--, Susan Woodworth and Barbara Holly combined their two…
A: Partnership is an agreement between two or more than two partners in which they invest capital, run…
Q: Particulars OMR Opening Balance: Cash 35,000 Sohar bank account 62,000 Khalid (supplier) Loan…
A: Types of Accounts: Assets Account Liabilities Account Capital Account Income or Revenue Account…
Q: Use the following adjusted year-end trial balance at December 31 of Wilson Trucking Company to…
A: Given: The K. Wilson, Capital account balance was $175,000 at December 31 of the prior year.
Q: Cash 12,000 Accounts Receivable 7,800 Prepaid Rent 2,200 Equipment 23,200 Accumulated 5,300…
A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…
Q: Received $ 5,000 cash in photography fees earned previously. * Account receivable Account payable…
A: Since, the service was provided previously for which cash is paid now, Cash account increases and…
Q: ACCOUNTS Debir Credit P 5,040 Cash.. Home Office Current . P 21,000 Purchases from outsiders…
A: SOLUTION BRANCH ACCOUNT IS A BOOKEEPING SYSTEM IN WHICH SEPARATE ACCOUNTS ARE KEPT FOR EACH BRANCH…
Q: Accounts Debit Credit Cash $ 12,000 Accounts Receivable 150,000 Prepaid Rent Supplies Equipment…
A: Formula: Net income = Revenues - Expenses
Q: 5. Record the following transactions in Tally Prime Date Amount (in R0) 2021 Jan 1 Cash A/C 11,000…
A: Debit and Credit Account - Every Account has define balance like debit and credit. To increase the…
Q: Purchased equipment for OR5,400, paying OR1,000 down and signing a two-year, 10% note for the…
A: Equipments means the fixed asset which is used in business for earning profits. Note payables means…
Q: Duing July Year 6 W Mandrake. Bought further goods on credit for $ 700 Paid payable $ 400 by cheque…
A: Statement of financial means the balance sheet where all the real and personal account are show.…
Q: Cash 11 1,500 Accounts Receivable 12 2,000 Interest Receivable 13 100 Prepaid Insurance Notes…
A: Formula: Net income = Revenues - Expenses
Q: Building bought in cash OMR 10,000 had been debited purchases account. What is the correction…
A: Journal entry: It is the duty of the accountant to record and summarize business economic and…
Q: On the basis of the details of the following fixed asset account, indicate the items to be reported…
A: Statement of cash flows: It is one of the financial statements that shows the cash and cash…
Q: Debit (P) Credit (P) 27500 Particulars Advertsing expense Accounts payable Accounts receivable…
A: Income statement and statement of change in equity both are the part of financial statements of a…
Q: Question 1 The following is the Trial Balance for Axos Enterprise as at 31 December 2021: Debit ($)…
A: Income statement and Balance sheet are part of Financial statements. Income statement represents…
Q: Date Accounts Titles Debit Credit Dec-01 Cash 500,000 Owner's capital 500,000 to…
A: The unadjusted Trial balance has been prepared through journal entries. Adjustment entries have been…
Q: |Brought additional capital into business Purchased goods and paid by Cheque Deposited into bank…
A: A Journal Entry is the record of a business transaction taken place. Every Journal Entry has two…
Q: Cash 12.000 Accounts Receivable 7,800 Prepaid Rent 2.200 Equipment 23,200 Accumutated Depreciation…
A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…
Q: Dec. 31 2021 Debit Credit 20,000 13,000 Account Title Cash Equipment Accumul.Dep-Equipment Supplies…
A: The closing entries are prepared to close the temporary accounts of the business and prepare the…
Q: TRANSACTION IMr. U contributed 600,000 Obtain loan 400,000 3Purchased Inventory 200,000 cash basis…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: c. Pass the transactions to balance Accounting Equation for the month of January 2021: January 1:…
A: The transactions occured for the month of January 2021 are provided Required Pass the Journal…
Q: Record the Note: Any expenses less than $500 should be classified as Miscellaneous. 21 Paid rent,…
A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…
Q: DATE PARTICULARS DEBIT CREDIT P 200,000 40,000 Dec-01 Cash Equipment Candelaria Maugat, Capital To…
A: Journal Entries are posted into T-accounts. The balance of T-accounts are presented in the trial…
Q: prepare postclosing etnry
A: Post-Closing Trial Balance: After passing all the journal entries and the closing entries of the…
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: Purchased buildings costing $412 and equipment costing $270 for cash. Note: Enter debits before…
A: Journal entries refer to the recording of transaction in an appropriate way. With the help of…
Q: 6. Record the following transactions in Tally Prime Date Amount (in RO) 2021 Cash A/C Building A/C…
A:
Q: burnal Entries (Note Issued, Renewed, and Paid) May 1 Purchased $5,000 worth of equipment from a…
A: A journal entries is used to keep a business transaction in the accounting records of a organisation…
Q: Use the following adjusted trial balance of Sierra Company to prepare its (1) income statement and…
A: Income Statement is the statement which provides details of all incomes and revenues of the company.…
Q: Cash 12,000 Accounts Receivable 7,800 Prepaid Rent 2,200 Equipment 23,200 Accumulated 5,300…
A: Formula: Net income = Revenues - Expenses
Q: Q L. From the following Trial Balance prepare Trading and Profit and Loss Account for the year ended…
A: Comment- We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: SHARON'S POINT TRIAL BALANCE AS OF 31.12.2018 DR CR Accrued Liabilities 5,464 2.325 Bank Capital…
A: Income statement is a statement prepared to calculate the net income of a company after deducting…
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows:
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- Pachel corpolatian re Ports the per teining vecevicable Days Past Due 3-60 followinginfamethon to iti accounts cuNent 1-30 ever90 $2500 1200. $2000 Jhe companys cradit depaltment Plovided the following statement estima ter vegarding the pocent of occounts enfc ted to eventuallyy be writtenoff form. each category current veceveiNable receivables -30 days past due listed aboue aut standing rELENables 31-ho days past due 16 feceivables 6L-G0 days Pajt due receivable Cuer 20 days due. 90 Recold the company's uncollectible account afsuming it hal expense fredit balance for in its llawance Deuhtful accounts pror to the necessaty maling endjustment.Life-Positive’s Account Balances 2021 ($) 2022 ($) accounts payable 24,600.00 21,250.00Accounts receivable 15,700.00 12,340.00Cash 23,450.00 28,600.00Cost of goods sold 19,700.00 23,000.00Depreciation 3,090.00 4,590.00Dividends 5,800.00 10,800.00Interest 2,340.00 2,890.00Inventory 7,050.00 8,640.00Long-term debt 28,000.00 30,000.00Net fixed assets 41,500.00 48,000.00Other expenses 2,400.00 2,800.00Sales 58,000.00 62,500.00Short-term Notes Payable 2,890.00 2,340.00Shares outstanding 85,000.00 90,000.00 tax rate is 32% 4. Calculate the cash flow from assets, cash flow to creditors,and cash flow to stockholders…On November 1, 2022, the account balances of Blue Spruce Corp. were as follows. No. Debits No. Credits 101 Cash $2,880 154 Accumulated Depreciation-Equipment $2,400 112 Accounts Receivable 5,100 201 Accounts Payable 3,120 126 Supplies 2,160 209 Unearned Service Revenue 1,440 153 Equipment 14,400 212 Salaries and Wages Payable 840 311 Common Stock 12,000 320 Retained Earnings 4,740 $24,540 $24,540 During November, the following summary transactions were completed. Nov. 8 Paid $2,040 for salaries due employees, of which $840 is for October salarles. 10 Received $4.096 cash from customers on account. 12 Received $3,720 cash for services performed in November. 15 Purchased equipment on account $2,400. 17 Purchased supplies on account $840. 20 Paid creditors on account $3,240. 22 Paid November rent $480. 25 Paid salaries $2,040. 27 Performed services on account and billed customers $2,280 for these services. 29 Recelved $720 from customers for future service.
- Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).(To record cash purchase of premiums) Cash Sales Revenue (To record cash sales) Cash Premium Expense Inventory of Premiums (To record redemption of codes) (To adjust unearned revenue) Save for Later 3840000 000 0 Attempts: 1 of 3 used Submit Answer E
- OkyOTcw/a/MjUwNDEyNDM20TEx/details Particulars Credit (RM) 48,400 Debit (RM) Capital Drawings Trade receivables Trade payables Sales Purchases Sales returns Purchases retums Wages and salaries Discounts allowed Discounts received Provision for doubtful debts Insurance Inventory as at 1 September 2018 Utilities 3,500 9,000 12,500 40,400 31,000 300 250 5,600 120 200 300 700 2,400 950 350 10,000 3,000 20,000 Rates Premises Fixtures and fittings Motor van Cash in hand Cash at bank TOTAL 330 14,800 102.050 102.050 Additional information as at 31 August 2019: i. Inventory as at 31 August 2019 amounted RM3,300 ii. An entity from whom there is accounts receivables of RM200 was unable to settle his debt and this amount is to be written off as bad debts. iii. The provision for doubtful debts is 1% of the outstanding trade receivables. iv. The owner took RM100 worth of goods from the business for his own use Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year…What is the amount received by partially secured creditor? A. P40,000B. P60,000C. P70,000D. P65,000Lor the Cash low Shown, the value of A Cac hen i-15, es. 10000 2 A 0 $1633.9 O $ 26 33.9 eterploolomas.lmg 16 00.9 $43633.9
- akeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress%3false hapter 11 Lab Application 全 回 Sign ia еBook You have been depositing money into an account yearly based on the following investment amounts, rates and times, what is the value of that investment account at the end of that period? (Click here to see present value and future value tables) Amounts of Value at the End Investment Rate Times of the Period $7,000 20% 16 years 612,094.91X $11,000 15% 9 years 184,644.26X $15,000 12% 5 years 95,292.71 X $36,000 10% 2 years 75,600.00 Feedback > Check My Work For each scenario, use the rate and time components to use the applicable time value of money table to determine the needed factor. Multiply the investment amount by the future value factor to determine the value of end of the period. 6:38 PM G O 4) ENG 13 68°F Sunny 10/26/2021 O P Type here to search hp %24 %24 %24Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $14. At the start of January 2018, VGC's Income statement accounts had zero balances and Its balance sheet account balances were as follows: Cash $1,730, e00 188, e00 15, 200 921, e00 508, e00 1,798,e00 153,e00 163,e00 124,e00 2, 900, e00 1,812, 200 Accounts Receivable Supplies Equipment Buildings Land Accounts Payable Deferred Revenue Notes Payable (due 2025) Conmon Stock Retained Earnings In addition to the above accounts, VGC's chart of accounts Includes the following: Service Revenue, Salarles and Wages Expense, Advertising Expense, and Utilities Expense. The following transactions occurred during the January month: a. Recelved $66,750 cash from customers on 1/1 for subscriptions that had already been earned in 2017. b. Purchased 10 new computer servers for $36,400 on 1/2: pald $15,700 cash and signed a three-year note for the remalnder owed. c. Pald $11.700…8. The ownerwithdrawscash forpersonalused.9. Thecompanypurchasesland by paying halfin cash andsigning anote.10. Thecompanypays thesupplier fortheirpurchaseslast month.