ORIOLE COMPANY Worksheet (partial) For the Month Ended April 30, 2020 Adjusted Trial Balance Income Statement Balance Account Dr. Cr. Dr. Cr. Dr. Titles Cash 11,100 Accounts 7,800 Receivable Prepaid Rent 2,100 Equipment 23,000 Accumulated Depreciation -Equipment 5,300 Notes 5,800 Payable Accounts 5,100 Payable Owner's 28,650 Capital Owner's 3,500 Drawings Service 15,200 Revenue Salaries and Wages Expense 11,000 Rent 900 Expense Depreciation Expense 650 Interest 50 Expense Interest 50 Payable Totals 60,100 60,100 Net Income Totals
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- The trial balance and additional information given below was obtained from the records of Vancouver Traders on 28 February 2020, the end of the financial year.REQUIREDUse the trial balance, adjustments and additional information to prepare the Income statement for the year ended 28 February 2020 Vancouver TradersPRE-ADJUSTMENT TRIAL BALANCE ON 28 FEBRUARY 2020Balance sheet accounts sectionDebitCreditCapital1 300 000Drawings96 000Land and Buildings912 000Vehicles at Cost672 000Equipment at Cost480 000Accumulated Depreciation on Vehicles384 000Accumulated Depreciation on Equipment168 800Fixed deposit: Fin Bank (9% p.a.)144 000Trading inventory123 000Debtors control142 420Provision for Bad Debts7 200Bank59 944Cash Float7 200Creditors Control133 344Mortgage Loan Fin Bank (12%)240 000Nominal Accounts SectionSales1 510 320Cost of sales432 000Sales returns9 600Salaries and wages427 200Bad debts13 400Stationery21 800Rates and Taxes57 100Motor expenses96 000 Repairs to building17 200Telephone32…Transactions Alex and Hagi decided to open a home cleaning service company, H@L . The following information is a partial list of transactions from H@L Inc. January 1- Alex and Hagi gach donated $ 25.000 in exchange for common stock to start the business. March 3- H@L Inc., paid $ 3.000 cash for a two-year insurance policy that was effective immediately. March 15-The Company purchased $8.000 of supplies on account. April 5- The Company purchased some cleaning equipment for $10.000 cash. The equipment should last for five years with no residual value. H@L company will take a full year of depreciation in 2020. May 1-H@L Inc., purchased a year's worth of advertising in a local newspaper for $ 1.200 cash. September 1- The Company obtained a nine-month loan for $ 15.000 at 5% from Do Not Trust Bank, with interest and principal payable on June 2021. December 31- The Company paid $ 5.000 of accounts payable owed from transaction 3. December 31- The Company earned service revenues of $ 26.225,…lal Acc CO ng-20201 am ACCT301 Fall 2020/2021 (Sections 1, 2, and 81) 19 Revenue has a credit balance of OMR 15,000 in Muscat Co. if the dosing entry will made at the year end, ved The entry to close Revenue is: it of Select one: O a debit Income Summary OMR20,000, credit Revenue OMR20,000 Ob. debit Revenue OMR15,000, credit Ahmad Capital OMR15,000 Oc debit Revenue OMR15,000, credit Income Summary OMR15,000. d. debit Income Summary OMR15,000, credit Revenue OMR15,000 Clear my choice s page
- Use the trial balance, adjustments and additional information to prepare the Statement ofComprehensive Income for the year ended 28 February 2022.Liat TradersPRE-ADJUSTMENT TRIAL BALANCE AS AT 28 FEBRUARY 2022Balance sheet accounts section Debit CreditR RCapital 550 854Drawings 75 150Land and buildings 477 164Vehicles at cost 91 000Equipment at cost 67 000Accumulated depreciation on vehicles 31000Accumulated depreciation onequipment 23800Trading inventory 68 800Debtors control 45 850Provision for bad debts 1900Bank 15 560Cash float 1 250Petty cash 250Creditors control 38 860Loan: MUFG Bank (15%) 21600Nominal accounts sectionSales 498 000Cost of sales 244 000Sales returns 8 000Wages 42 500Bank charges 2 300Rent income 26000Packing materials 12 000Advertising 8 500Rates 3 000Bad debts 900Discount allowed 750Discount received 980Stationery 8 500Interest on loan 2 970Water and electricity 5 550Insurance 5 000Telephone 7 0001 192 994 1 192 994Adjustments and additional information1. A…Prepare an annual income statement from the following adjusted trial balance.Blossom EnterprisesAdjusted Trial Balance December 31, 2020AccountDebitCreditCash$1,900Accounts Receivable 14, 100Allowance for Doubtful Accounts$900Prepaid Insurance1, 900Equipment26, 400Accumulated Depreciation4, 600Notes Payable9, 000Accounts Payable2, 800Salaries and Wages Payable2, 000 Interest Payable100Common Stock16,000Retained Earnings7, 800Dividends2, 500Service Revenue123, 500Salaries and Wages Expense84, 700Rent Expense23, 000Supplies Expense5, 500Insurance Expense3, 000Interest Expense600Bad Debt Expense900Depreciation Expense2, 200$166, 700$166, 700nd A assessment.education.wiley.com B Present Value Tables (1.. W https://education.wiley. B ch01 (Fall 2020) w Final Exam (Fall 2020) Final Exam (FallI 2020) -/6 Question 22 of 50 > View Policies Current Attempt in Progress Sheridan Corporation's Perfume division has a segment margin is $92000 for the current reporting period. Total assets at the beginning of the period were $807000 and $907000 at the end of the period. What is the division's ROI? O 9.42% O 10.74% O 11.40% O 5.37% Save for Later Attempts: 0 of 1 used Submit Answer MacBook Air
- Instructions: 1. Based on the information provided below, please calculate the total accrual needed at the end of Q1-2022 (3/31/2022) by vendor. 2. Round the total accrual to the nearest 10. 3. Utilizing the rounded total accrual amount, and the provided information, show what journal entry(s) should be posted at the end of Q1-2022. 4. Format/change/improve this tab however you like to make it easier to understand. This is a list of all invoices received and paid related to Q1 for the respective vendors: Invoice/Start Date Vendor Invoice Number Amount 2/1/2021 California Roofing 3AD24DF982D 1/1/2022 Hot Cakes LLC 1/6/2022 Jammer Joes Pools D48F5A4D8 1/10/2022 Else's Hammer Sho 1/19/2022 Washmart Co 2/4/2022 Hot Cakes LLC 2/5/2022 ABC Plumbing 2/16/2022 Else's Hammer Sho 3/17/2022 Spooner forks Inc UUTTRSFS 3/19/2022 Else's Hammer Sho Washmart Co California Roofing Jammer Joes Pools Spooner forks Inc Total Accrual 2. Rounded Total 3. JE(s) needed at 3/31/2022: Account Type Debit Expense…Question 1. Trial balanceLand and premises 2000000Furniture 120000Inventory (01/04/19) 80000Import on duty 4000Wages of contract workers 46000Salaries 64000Carriage for goods purchased 5200Carriage for goods sold 12400Discounts 24900 25080Purchases and sales 705200 237252200 Rent 11200 13000Commission 15600 17400Bills receivable 1080012% investment (1/10/19) 136000Donation to national fund 1260010% bank loan 112000Factory rent 64000Receivables and payables 920000 240000eBank 728000Bad debts 66000 Provision for doubtful debts 20000Rates and taxes 31200BrokerageCapitalQueen corona 500000Queen covid 500000Current accountQueen corona 20000Queen covid 128000 Additional informationDue to the economic recession at the moment, the partners estimated that more of their receivables may not be able to settle their debts, hence, they wrote off additional debts of GHc 15000 and agreed to maintain provisions for doubtful debts at 5%.They agreed to provide for discount on receivables at 5%.All…The Trial Balance TBA Limited contained the following accounts (alphabetically) at December 31, 2020, the end of company's fiscal year. Accounts..... ..... ** Balances ($)....||| .... Accounts ... ........... ...... ..... Balances ($) Accumulated Depreciation-Building.... ..... 121000 . ... ||| .... Loss on Sale of Property Accumulated Depreciation-Equipment. . 36000.... ||| .... Merchandise Inventory Additional Paid in Capital-Common Stock.. 222000.... ||| - . . . Mortgage Loan.. . . **** .... .... ... 7380 231000 ............. 109000 Auditors Fee ... .... .... .... ... ... ... ..* 209000.... III.... Rent Revenue .. .... ... .... .... .. 53000 Retained Earnings .. . 52900 Buildings.. 410000.... |II - .......... ................... ............ Cash ... ......... ****** 150710.. .. |||. ... Salaries and Wages Expense 104000 Common Stock ($2 each).... ... .... .... .... ... ....... 104000....II.... Sales .... ........ .... .... .... ..... .*.* *.** 1754000 Cost of Goods Sold 1086000....…
- 1. Jorasmi Enterprise Trial Balance as at 31 December 2020 Particulars Debit Credit RM RM Inventory of raw materials 1 Jan 2020 Inventory of finished goods 1 Jan 2020 Work in progress 1 Jan 2020 Wages (direct RM180,000, factory indirect RM145,000) Royalties Carriage inwards (on raw materials) 21,000 38,900 13,500 325,000 7,000 3,500 370,000 230,000 12,000 31,000 7,500 13,700 44,000 30,000 11,500 12,000 4,200 13,400 2,300 4,800 5,900 Purchases of raw materials Productive machinery (cost RM280,000) Administration computers (cost RM20,000) General factory expenses Lighting Factory power Administration salaries Sales representative salaries Commission on sales Rent Insurance General administration expenses Bank charges Discount allowed Carriage outwards Sales Account receivable and accounts payable 1,000,000 64,000 142,300 16,800 1,500 60,000 Bank Cash Drawings Capital as at 1 Jan 2020 357,800 ТОTAL 1,421,800 1,421,800 Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information: i.…More info - X December 1 Ritchie sold 14 go-karts on account. The selling price of each go-kart was $1,900; the cost of goods sold for each was $400. December 5 Ritchie received notice of a class-action lawsuit being filed against it. The lawsuit claims that Ritchie's go-karts have engine defects that appear after the warranty period expires. The plaintiffs,want Ritchie to replace the defective engines and pay damages for the owners' losé of use. The cost of replacing the engines would be approximately $380,000 (not including any damages). Ritchie's attorney believes that it is reasonably possible that Ritchie will lose the case, but the attorney cannot provide a dollar estimate of the potential loss amount. December 20 Ritchie performed repairs due to product warranty complaints for two go-karts sold earlier in the year. Ritchie's cost of the repairs, paid in cash, was $850. December 22 An individual claims that he suffered emotional distress from a high-speed ride on a Ritchie…A. You are provided with the following information form the accounts of BBS Ltd for the year ending 30 June 2019Cash Sales950 000Cost of Goods Sold35 000Amount received in advance for services to be performed in August 20199 500Rent expenses for year ended 30 June 20199 000Rent Prepaid for two months to 31 August 20191 200Doubtful debts expenses1 200Amount provided in 2019 for employees’ long-service leave entitlements5 000Goodwill impairment expenses7 000Required:Calculate the taxable profit and accounting profit for the year ending 30 June 2019.B. GYV Ltd has the following deferred tax balances as at 30 June 2019.Deferred tax asset $9 00 000Deferred tax liability $7 00 000The above balances were calculated when the tax rate, was 20 per cent. On 1 December 2019 the government raises the corporate tax rate to 25 per cent.Required:Provide the journal entries to adjust the carry-forward balances of the deferred tax asset and deferred tax liability.