Mr. J, CapitalOffice EquipmentAccounts Payable85 000.00 Notes Receivable1 200.0012 000.00 Notes Payable8 000.0016 600.00 Interest Income360.00CommunicationsExpense21 500.00 Interest ExpensePostage and StampsExpenseCash18 540.001 250.00Tools220.00Mr. J, Drawing10 000.0050.00Accounts21 460.00 Insurance Expense4 100.00ReceivableMortgage PayableLoan Payable(Short Term)30 000.00 Service Vehicle84 700.0020 000.00 Utilities Expense160.00Service Income78 560.00 Supplies Expense3 150.00Furniture andFixturesSalaries Expense8 900.00 Shop Equipment36 290.0021 000.00 Rental Income6 000.00Income statement

Formula: Net income = Revenues - Expenses.

Mr. J, Capital Office Equipment Accounts Payable 85 000.00 Notes Receivable 1 200.00 12 000.00 Notes Payable 8 000.00 16 600.00 Interest Income 360.00 Communications Cash 18 540.00 1 250.00 Expense 21 500.00 Interest Expense Postage and Stamps Expense Tools 220.00 Mr. J, Drawing 10 000.00 50.00 Accounts Receivable Mortgage Payable Loan Payable (Short Term) 21 460.00 Insurance Expense 4 100.00 30 000.00 Service Vehicle 84 700.00 20 000.00 Utilities Expense 160.00 Service Income 78 560.00 Suppliec Exponco

Mr. J, Capital Office Equipment Accounts Payable 85 000.00 Notes Receivable 1 200.00 12 000.00 Notes Payable 8 000.00 16 600.00 Interest Income 360.00 Communications Cash 18 540.00 1 250.00 Expense 21 500.00 Interest Expense Postage and Stamps Expense Tools 220.00 Mr. J, Drawing 10 000.00 50.00 Accounts Receivable Mortgage Payable Loan Payable (Short Term) 21 460.00 Insurance Expense 4 100.00 30 000.00 Service Vehicle 84 700.00 20 000.00 Utilities Expense 160.00 Service Income 78 560.00 Suppliec Exponco

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter6: Investing And Financing Activities

Section: Chapter Questions

Problem 4.9C

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1. What amount was received from the note receivable discounting? a. 4,017,000b. 4,120,000c. 4,103,000d. 3,965,500 2. What amount should be reported as loss on note receivable discounting? a. 40,000b. 23,000c. 17,000d. 20,000
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.
Mr. J, Capital Office Equipment Accounts Payable 85 000.00 Notes Receivable 1 200.00 12 000.00 Notes Payable 8 000.00 16 600.00 Interest Income 360.00 Communications Expense 21 500.00 Interest Expense Postage and Stamps Еxpense Cash 18 540.00 1 250.00 Tools 220.00 Mr. J, Drawing 10 000.00 50.00 Accounts 21 460.00 Insurance Expense 4 100.00 Receivable Mortgage Payable Loan Payable |(Short Term) 30 000.00 Service Vehicle 84 700.00 20 000.00 Utilities Expense 160.00 Service Income 78 560.00 Supplies Expense 3 150.00 Furniture and Fixtures Salaries Expense 8 900.00 Shop Equipment 36 290.00 21 000.00 Rental Income 6 000.00 Income statement
Mr. J, Capital Office Equipment Accounts Payable 85 000.00 Notes Receivable 12 000.00 Notes Payable 1 200.00 8 000.00 16 600.00 Interest Income 360.00 Communications Cash 18 540.00 1 250.00 Expense 21 500.00 Interest Expense Postage and Stamps Expense Tools 220.00 Mr. J, Drawing 10 000.00 50.00 Accounts 21 460.00 Insurance Expense 4 100.00 Receivable Mortgage Payable Loan Payable (Short Term) Service Income Furniture and Fixtures Salaries Expense 30 000.00 Service Vehicle 84 700.00 20 000.00 Utilities Expense 160.00 78 560.00 Supplies Expense 3 150.00 8 900.00 Shop Equipment 36 290.00 21 000.00 Rental Income 6 000.00 Net Inca me?
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).
C. P177.60 d. P29.60 P74.40 P300 P620 30% e. 4. Find the (a) cash discount and (b) net amount due if the following invoices are paid within the discoun period. Net invoice price P3,265 Net amount due Terms of payment 3 п Cash discount 10'30 P 1,342 15'60 2 n P985 5'15 5. Find the (a) deadline for discount period, (b) deadline for credit period, (c) cash discount and (d) amount due for the following cases. Deadline of discount Net Deadline of credit Invoice Terms of Cash Invoice date amount due amount payment discount period period 1 n P 1,675 Jan. 15 15'45 P645 Feb. 25 10'30 1n P 895 March 12 10'45 3 2 P785 April 22 . 15'20'90 6. The net invoice price of a wall clock is P287.00. If the discount granted was 18%, find: a. Net invoice price rate b. List price C. Discount 7. The net invoice price of a dining table is P6,187.50, representing 75% of the list price. Find: a. List price b. Discount
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You are given the following information: Debt tenor Account Balance b/f Repayment Balance c/f Principal repayment CFADS Max DS Less: interest Max principal repayment O $250k O $290k O $330k O $396k [1,0] Ⓒ $467k USD '000 USD '000 USD '000 USD '000 USD '000 USD '000 USD '000 DSCR. 1.50x i (% p.a.) 10.00% (250) 250 467 (70) 396 Yr 1 250.00 (41.67) 208.33 100.00 66.67 (25.00) 41.67 Yr 2 208.33 (59.17) 149.17 120.00 80.00 (20.83) 59.17 Yr 3 Yr 4 149.17 84.08 (65.08) (71.59) 84.08 12.49 120.00 80.00 (14.92) 65.08 120.00 80.00 (8.41) 71.59 Yr 5 12.49 (12.49) Out of the range of options given below, what is the most likely debt size for this example project? Note: Debt tenor = 6 years, DSCR = 1.50x, interest rate = 10%, CFADS as represented in the image. 120.00 80.00 (1.25) 78.75 Yr 6 120.00 80.00 80.00
OkyOTcw/a/MjUwNDEyNDM20TEx/details Particulars Credit (RM) 48,400 Debit (RM) Capital Drawings Trade receivables Trade payables Sales Purchases Sales returns Purchases retums Wages and salaries Discounts allowed Discounts received Provision for doubtful debts Insurance Inventory as at 1 September 2018 Utilities 3,500 9,000 12,500 40,400 31,000 300 250 5,600 120 200 300 700 2,400 950 350 10,000 3,000 20,000 Rates Premises Fixtures and fittings Motor van Cash in hand Cash at bank TOTAL 330 14,800 102.050 102.050 Additional information as at 31 August 2019: i. Inventory as at 31 August 2019 amounted RM3,300 ii. An entity from whom there is accounts receivables of RM200 was unable to settle his debt and this amount is to be written off as bad debts. iii. The provision for doubtful debts is 1% of the outstanding trade receivables. iv. The owner took RM100 worth of goods from the business for his own use Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year…
How effective is the organization in collecting its receivables? Use the Hillside, Inc. Balance Sheet information in cells A2 through D18 and cells A21 through B38 to complete the Financial Performance Calculations in cells A40 through C60. Table 1: Hillside, Inc. Balance Sheet ($ in Millions) ASSETS LIABILITIES Cash & Marketable Securities 449.90 Accounts Payable 1,611.20 Accounts Receivable 954.80 Salaries Payable 225.20 Inventories 3,645.20 Other Current Liabilities 1,118.80 Other Current Assets 116.60 Total Current Liabilities 2,955.20 Total Current Assets 5,165.27 Other Liabilities 693.40 Machinery & Equipment 1,688.90 Land 1,129.70 Total Liabilities 3,648.60 Buildings 2,348.40 Depreciation (575.60) SHAREHOLDER'S…
Given the following data; TOTAL SALES OMR 250000 CASH SALES OMR 125000 SALES RETURN OMR 5000 OPENING SUNDRY DEBTORS OMR 20000 CLOSING SUNDRY DEBTORS OMR 10000What will be the Net credit sales? O a. OMR 120000 O b. OMR 245000 O c. OMR 125000 O d. OMR 200000
Create a balance sheet with the following information. Create a balance sheet for the following information. Bank Accoutns recievable Equipement Accounts payable Long-term debt Capital Retained earning Withdrawis msi in ^ 00 C 4 I P JOOOOL K V B m 2050 6100 900 150 2000 5000 10900 9000 0 ALTOR in