2019 2020 2019 2020 'ash $1,300 $1,100 Accounts payable $2,100 $2,900 .ccounts receivable $4,100 $4,400 Utilities payable $200 $450 iventory $7,500 $8,800 Salaries payable $800 $1,800 repaid insurance $1,200 $1,500 Notes payable $18,000 $15,000 quipment $16,000 $16,000 Interest payable $2,300 $2,600 .ccum. depreciation ($2,400) ($3,600) Common stock $6,000 $6,000 and $4,500 $9,200 Retained earnings $2,800 $8,650 $32,200 $37,400 $32,200 $37,400 iven the above information, how much was cost of goods sold during 2020 if $44,000 was paid to uppliers? $43,500 O $44,800 O $41,900 $43,000 O None of the above

Cha Shi lian Trading Co Trial Balance as at 31 Mach 2021 DR CR RM RM Owner's equity, L.M. Teh 3,800,000 Owner's drawings, L.M. Teh 50,000 Office building at cost 5,370,000 Accumulated depreciation-Office building 537,000 Motor vehicles, at cost 370,000 Accumulated depreciation-Motor vehicles 94,000 Equipment, at cost 1,960,000 Accumulated depreciation-Equipment 730,000 Accounts receivable 942,000 Inventory, 1 April 2020 1,880,000 Prepaid insurance 160,000 Bank overdraft 294,000 Accounts payable 722,000 5% Mortgage loan (due 31 December 2025) 3,000,000 Purchases 7,978,000 Sales 12,260,000 Auditors' remuneration 135,000 Sundry expenses 132,000 Pay and allowances 1,140,000 Sales returns 650,000 Utility expenses 160,000 Advertising expenses 195,000 Office expenses 100,000 Mortgage loan interest 150,000 Income tax expense 65,000 21,437,000 21,437,000 Adjustments required for the year ended 31 March 2021 are as follows: i. As at 31 March 2021, the value of Inventory was RM1,100,000. ii.…

2020 a. July 1 b. December 31 2021 c. July 1 d. July 1 Loaned $62,000 to employees of the company and received back one-year, 10 percent notes. Accrued interest on the notes. Received interest on the notes. (No interest has been recorded since December 31.) Received principal on the notes. Required: Prepare the journal entries that Smart Solutions Incorporated would record for the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Journal entries a. $30,000 cash was borrowed on a five-year 10% note payable, dated 5/1/2021. b. $13,000 cash was paid for land. c. Earned $118,000 in service revenues for 2020. $53,000 on account and the remainder in cash. d. Purchased Inventory with $15,000 cash. e. Sold $12,000 of inventory for $17,000 cash. f. Issued 4,000 additional shares of $0.50 par value common stock for cash at $1 per share on 1/2/2021. g. Incurred $114,000 in miscellaneous operating expenses for 2021, $20,000 on credit and the rest paid in cash. h. Collected $34,000 owned on account. i. Purchased $17,000 supplies on account. j. Paid $26,000 accounts payable. k. A piece of equipment costing $3,000 was stolen. The insurance company reimbursed the company $1,000. The accumulated depreciation on the equipment amounted to $1,000 l. Bid on a $2,000 one-year service contract. If accepted, work is to begin on 2/1/2022. m. $103,000 was paid for employee wages. This included wages owed from 2021. n. Declared and paid…