far 1 Cash RI 15,000.00 Bill Wiliams, Capital 3 Supplies Cash 15,000.00 2 CI 750.00 750.00 4 5 Prepaid Insurance Cash C2 1,200.00 1,200.00 SSupplies MI 1,000.00 Accounts Payable-Lowe's Supply 1,000.00
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- YE3tcuBfirwShOSzu2prZ7nd44k0L-w/formResponse?pli=1 e following to answer the five questions below: owing accounts are extracted from the worksheet of X Company on ber 31, 2020 Sales Retums and Allowances S 410,000 Sales Discount 140,000 Sales 1,500,000 Salaries Expenses - Sales 52,000 Rent Revenue 22,000 Purchases Retums and Allowances 120,000 Purchases 600,000 Loss from write down of Inventory 17,000 Inventory, January 1, 2020 460,000 Interest Expense A 55,000 Gain from Sale of Building 23,000 Freight-out 14,000 Freight-in 30,000 Depreciation Expense - Sales 22,000 Cost of Goods Sold 600,000 n the data above, the inventory account sho ed a holonOkyOTcw/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…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.
- Poss entries, Prepage ledger acourts and also o trPal balonce. 2.5.21 Storted business wrth lo0000 Y.5 21 depessted Goo00 Po book. 18-5 21 Balcofies Paid % cash 15000 17.5-81 rent Dord in cash lo000 24.5-2) Jalarics Pard though cheque 25000 30.5-21 gent Paid through chopue 1D000 . Ufgf 26PA5. 7.4 Brown Inc. records purchases in a purchases journal and purchase returns in the general journal. Record the following transactions using a purchases journal, a general journal, and an accounts payable subsidiary ledger. The company uses the periodic method of accounting for inventory. Oct.1 Purchased inventory on account from Price Inc. for $2,000 Oct.1 Purchased inventory on account from Cabrera Inc. for $3,000 Oct.8 Returned half of the inventory to Price Inc. Oct.9 Purchased inventory on account from Price Inc. for $4,200tle=pccertified-professional-in-financial-accounting 5e33e716ef363&c=9&p=1 O New Tab 6 Currency Conversion O Silberline Intranet S.. @ https://www.comm... A SAP Health Declara. I Silberline Home ( Previous al Question 1/50 O 117 min 15 secs 2% 89% Done In October 2015 Utland sold some goods on sale or return terms for $2,500. Their cost to Utland was $1,500. The transaction has been treated as a credit sale in Utland's financial statements for the year ended 31 October 2015. In November 2015 the customer accepted half of the goods and returned the other half in good condition. What adjustments, if any, should be made to the financial statements? A. Sales and receivables should be reduced by $2,500, with no adjustment to closing inventory B. ) Sales and receivables should be reduced by $2,500, and closing inventory increased by $1,500. C. Sales and receivables should be reduced by $1,250, and closing inventory increased by $750 D. No adjustment is necessary Next O Mark For Review @…
- transcribed image text: Luna's savings account had the following balances. Date 04/01/2019 04/17/2019 05/28/2019 06/22/2019 Balance 726,000 782,000 800,000 How much is Luna's ADB for the 2nd quarter of 2019? 535,000 O P752,670.33 O P752,380.43 O P760,648.35 O P761,033.33MUMassD Logor X E Quicklaunch - x K. myCourses Da: X Se Univ of Mass - X Ceng g In | Federa x ducation.com Saved mework View transaction list Journal entry worksheet 1 3 4 8 9 10 Provided $57,971 in service to customers during the year, with $21,658 on account and the rest received in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 0 日 searchCajegas 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 Equity
- oft WE ivable/Notes Payable X b JOURNAL ENTRIES (NOTE ISSUEL X + moodle.cw.edu/mod/quiz/attempt.php?attempt3=56737&cmid%3733537 Graphics has the following notes payable transactions. Record these transactions in eneral journal. July 5lssued a $3,500 note to Roma Ceramic Inc. The 10%, 60-day note is in full payment of an account payable. 9Borrowed $5,000 from the bank sighing a 6%, 90-day note. 11Paid $500 cash and issued a $2,000, 8% 30-day note to Design Center in payment of an account payable. Aug. 5Borrowed $3,600 for 30 days from the bank on a non-interest-bearing note. The discount rate is 10%. Sept. 3Paid the principal and interest due on the $3,500 note to Roma Ceramic Inc. Oct. 3Paid the interest due on the $5,000 note to the bank and renewed the principal for 30 days at 7%. GENERAL JOURNAL Page 1 Post Date Description Ref. Debit Credit because we are The Colle 10mdio playyasg In | Federa x M UMassD Logor X EQuickLaunch -x K myCourses Da: x Univ of Mass - X * Cengage Die education.com mework i Saved View transaction list Journal entry worksheet 1 4 6 7 8 9. 10 cearch 近Account: A/R – Manitoba Equipment Co. No. 211 Dater2021) PARTICULARS P.R. DEBIT CREDIT Dr/Cr BALANCE Aug 15 J22 1,600 00 Sep |4 J26 825 00 16 Ј30 176 00 Асcount: No. Date2021) PARTICULARS P.R. DEBIT CREDIT Dr/Cr BALANCE