17You are given the following information is for Engwenya Traders at 31 August 2024Rut ofCapitalSalesCredit losses recoveredCost of salesOperating expenses253 000278 3007 400117 30068 900Time left 0:09:27On May 15, 2024, the owner, withdrew an amount of R15 200 to pay for the school fees for one of her nephews. She further withdrewR40 500 on 18 June 2024 to pay for a family trip to the Olympics 2024 in Paris.A stock take of the tables was conducted on July 31, 2024. During this assessment, it was discovered that 3 tables, valued at R12 600,were damaged by the trailer when they were transported to the storeroom.These damaged tables were offered to the local church at a reduced price of R3 000 each. This offer was accepted by the church andthe tables were delivered at the church on 5 August 2024.Which one of the following alternatives represents the correct capital balance in the statement of financial position of Engwenya WindowsTraders as at 31 August 2024?Instructions:Go to Settings to activate Wi

Step 1:Calculate the Net Profit for the YearNet Profit = Sales + Credit losses recovered - Cost of…

Answered: 17 You are given the following…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 61E

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10 (Sales revenue 000 Cost of goods sold Rent 008.0 Wages TESSA 080 Insurance 000 General Expenses Equipment Inventory Motor Vehicles Accumulated depreciation - Equipment - Motor Vehicles Trade receivables Trade payables Cash at Bank 000 £ Jean runs an export business. The following balances were extracted from her Dr ($) books on 31 December 2019. nogmi to sconieua orl ni el gribs17 ortal. 870S onlL OE no alood all mail belastxe oww seonclad Cr ($) 135,600 000 Capital 20 Drawings ore Mortgage Loan due 1 January 2030 Discount received 308 008 1. 2. 3. (a) 000 a (b) 76 840 elad 11,500 zeta2 6,700 to 163 5,450 Dai smoon2,600 immo Boho 44,000 ogsW 5 800 In 28,000 albiri eloirie V 10JoM no nollsloeiqod bal Inemplup3 no noitsipengee REQUIRED zoldavisos obait to Insrlegm 3,470 agidays 7,980 2oldavians aba enswoll 60 met BTOR 2,500 194,840 ini Additional information: Issued a cheque, $1 750 to a supplier for a full settlement of $2 000. 19 WC boo A credit customer returns $1 200 worth of…
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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. my confusion : not sure if LSL will be 50%of or not?
DATA PROVIDEDThe pre-adjustment trial balance of Wing-It (Pty) Ltd as at 31 August 2022 is presented:AccountDebitCreditProfessional fees765 000Goods sold435 000Cost of sales215 000Interest received19 500Interest on loan6 300Bank charges3 200Cleaning1 500Staff welfare650Salaries and wages35 850Municipal services6 850Printing and stationery16 715Telephone18 600Fuel and oil56 000Repairs and maintenance: Building5 200Repairs and maintenance: Vehicles6 850Capital: Blue520 000Capital: Green630 000Drawings: Blue35 000Drawings: Green27 000Current account: Blue2 500Current account: Green6 400Retained income265 000Land500 000Buildings1 500 000Accumulated depreciation on buildings21 000Vehicles380 000Accumulated depreciation on vehicles65 000Equipment and electronics79 500Accumulated depreciation on equipment and electronics1 5008% Long-term loan325 000Bank: FNB168 000Bank: ABSA32 000Debtors control account85 000Allowance for credit losses6 400Creditors control account78 600Petty cash2…
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a. P585,000 b. P615,000 c. P625,000 d. P655,000 e. answer not given
Collected from customer on account on june15 June 15 : sold on account 350,00 to customer In other they are deducting 50,000 and my question is i will deducting it or not?
Hybrid Dealers bought computer equipment for R54 000 on 1 July 2018. The equipment is depreciated at 20% according to the diminishing balance method. Required: Prepare the depreciation and closing transfer entries in the general journal of Hybrid Dealers on 31 March 2019 and 31 March 2020. Please see attached for answer format
Q7. Rasheed Company uses net method to record the sales made on credit. On June 30, 2019, it made a sales of OMR 25,000 with term 3/15, n/45. Prepare the required journal entries, if: (a) On July 7 Rasheed company received full payment. (b) On July 22 Rasheed company received full payment.
I need help to do this question for Accounting.
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 holon

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