28.9 The trial balance for a small business at 31 August 20X8 is as follows: Stock 1 September 20X7 Purchases and Sales 8,200 26,000 4,400 1,600 340 40,900 Rent Business rates Sundry expenses Motor vehicle at cost 9,000 1,160 1,500 Debtors and creditors 2,100 Bank Provision for depreciation on motor vehicle Capital at 1 September 20X7 Drawings 1,200 19,700 11,700 63,900 63,900 At 31 August 20X8 there was: • Stock valued at cost prices £9,100 Accrued rent of £400 Prepaid business rates of £300 The motor vehicle is to be depreciated at 20% of cost Required: The adjustments to the ledger accounts for rent and business rates for the year to 31 August 2 A trading profit and loss account for the year ending 31 August 20X8, together with a balance 20х8. sheet as at that date.

28.9 The trial balance for a small business at 31 August 20X8 is as follows: Stock 1 September 20X7 Purchases and Sales 8,200 26,000 4,400 1,600 340 40,900 Rent Business rates Sundry expenses Motor vehicle at cost 9,000 1,160 1,500 Debtors and creditors 2,100 Bank Provision for depreciation on motor vehicle Capital at 1 September 20X7 Drawings 1,200 19,700 11,700 63,900 63,900 At 31 August 20X8 there was: • Stock valued at cost prices £9,100 Accrued rent of £400 Prepaid business rates of £300 The motor vehicle is to be depreciated at 20% of cost Required: The adjustments to the ledger accounts for rent and business rates for the year to 31 August 2 A trading profit and loss account for the year ending 31 August 20X8, together with a balance 20х8. sheet as at that date.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

question O C. Work in Progress Finished Product 48 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 10000 What will be the average debtors? ut of O a. OMR 15000 uestion O b. OMR 7500 O c. OMR 30000 O d. OMR 10000 pe here to search Pa lenovo
NDkyOTcw/a/MJU1MTU2OT94NZAX/details 4. The trial balance below was extracted from the books of CiciCaca Enterprise as at 31 Mac 2020: Credit RM 950,000 Debit RM 377,000 432,000 102,000 625,000 Particulars Purchases and Sales Plant and machinery Vehicles Land and building Accumulated depreciation: Plant and machinery Vehicles Discount allowed and discount received Returns inwards and returns outwards Carriage inwards Carriage outwards Custom duties Drawings Provision for doubtful debts Salaries and wages Electricity and water Rent and rates Insurance 175,000 39,000 760 1,500 44,000 4,700 5,500 15,400 3,600 12,200 2,000 300,000 65,000 4,000 55,000 450,000 Mortgage on land and building Repairs and maintenance Commission earned 6,300 95,000 Accounts receivables 187,000 166,500 Account payable Inventory-1 April 2019 Cash at bank 51,000 41,100 429,640 Capital TОTAL 2.320.100 2.320.100 The following additional information is to be taken into consideration: Increase in provision for doubtful…
4. The trial balance below was extracted from the books of CiciCaca Enterprise as at 31 Мас 2020: Particulars Debit Credit RM 950,000 RM 377,000 432,000 102,000 625,000 Purchases and Sales Plant and machinery Vehicles Land and building Accumulated depreciation: Plant and machinery Vehicles Discount allowed and discount received Returns inwards and returns outwards 175,000 39,000 760 12,200 Carriage inwards Carriage outwards Custom duties 1,500 44,000 4,700 5,500 15,400 Drawings Provision for doubtful debts Salaries and wages Electricity and water Rent and rates 3,600 2,000 300,000 65,000 4,000 55,000 Insurance Mortgage on land and building Repairs and maintenance Commission earned 450,000 6,300 95,000 Accounts receivables 187,000 Account payable Inventory-1 April 2019 Cash at bank Capital 166,500 51,000 41,100 429,640 2,320,100 2.320,100 ТОTAL The following additional information is to be taken into consideration: i. Increase in provision for doubtful debts to RM3,610 ii. Depreciation…
Calculate net profit from the following? Net sales OMR 100000, Cost of goods sold OMR 40000, Rent received OMR 20000, Salaries OMR 10000, Insurance OMR 6000 and Depreciation OMR 8000. a.OMR 60000 b.OMR 64000 c.OMR 70000 d.OMR 56000
25 The following balances were extracted from the books of AL Masa Cleaning Services at 31st December, 2020: Cash BD13900 - Accounts Receivable - BD2000 Equipment BD6000 Prepaid Rent BD4000 - Accounts Payable BD14000 - Beginning Capital BD16000 Investment during the year BD3200 Withdrawals BD800 Service Revenues BD8300 - Wages Expense BD600 - Utilities Expense BD2500 Supplies Expense BD1100 - Rent Expense BD3300 Fees Income BD2700 - Furniture BD10000 - Use the previous information to question 25 to question 28: Required: Compute the amount and show solution steps of: 1- Total Revenues 2- Total Expenses *
14:22 LTE1.l Vol) ASSIGNMENT I Question Paper.pdf Page 1 of 4 FPBFC02 ASSIGNMENT 1-JULY 2021 Question 5 Mr. Alba (Pty) Ltd has the following list of information for year ended 31 December 2009. R Trade and other receivables Trade and other payables Rent received 5 000 4 000 2 500 8 000 Goodwill Bank overdraft Equipment Depreciation Profit on sales of asset Trading inventory Loan (6 months) 1 000 3 000 8 000 9 000 6 000 2 000 Required: Use the information given above to determine the total Owners' Equity for the period. [5] Assets Liabilities Page 1 of 4 FPBFC02 ASSIGNMENT 1-JULY 2021 Question 6 Quinton Limited is involved in the manufacturing of cleaning material. The following information relates to the company's property plant and equipment. The company has a financial year end of 31 December. II
At 31 October 20X6 Roger's trial balance included the following balances: Machinery at cost Accumulated depreciation Inventory 12,890 8,950 5,754 11,745 7,830 1,675 150 Trade receivables Trade payables Bank overdraft Cash at bank What is the value of Roger's current assets at 31 October 20X6?
What is the net income for the year if the net revenue from by-product is treated as deduction from the cost of goods sold? Group of answer choices d. P118,000 b. P230,000 a. P200,000 c. P218,000
Th/r olqj8ar9 Tutorial 9 Submission date: 18 January 2021 before 12.00pm 1. At 31 January 2020 the following trial balance was extracted from the books of Yusiti. Particulars Debit Credit RM RM Capital 1 February 2019 Vehicles at cost 101,430 Equipment at cost Purchases and sales 35,000 80,000 284,680 503,520 Provision for depreciation at 1 February 2019: Vehicles 21,000 35,000 650 Equipment Return inward and return outwards Finance expenses Stock at 1 February 2019 Vehicles expenses Rent, rates and insurance Office expenses Drawings Petty cash Wages and salaries Bad debts Debtors and creditors Cash at bank 1,340 1,220 25,570 4,930 7,420 21,940 23,550 200 95,370 1,240 83,210 14,880 680.550 680.550 18,950 TOTAL Additional information as at 31 January 2020. No. Particulars i. Stock valued at i. Insurance prepaid iii, Goods taken from stock for own use iv. Wages due v. Provision for doubtful debt required vi. Provision for depreciation is to be provided as follows: RM 29,750 340 420 2,400…
12 - Our company has paid a maintenance cost of 5,900 TL, including 18% VAT, from the bank for the vehicle purchased for use in its commercial activities. Which of the following accounts is correct to use in the relevant accounting record? a) 254 Vehicles Hs. 5,000 TL B) 391 Calculated VAT Hs. 900 TL (Borrower) NS) 191 VAT Deductible 900 TL (Creditor) D) 760 Marketing Distribution and Sales Expenses Hs. 5,000 TL (Borrower) TO) 254 Vehicles Hs. 5.900 TL (Borrower)
28 The following balances were extracted from the books of AL Masa Cleaning Services at 31st December, 2020: Cash BD13900 Accounts - Receivable BD2000 Equipment BD6000 Accounts Prepaid Rent BD4000 - Payable BD14000 - Beginning Capital BD16000 Investment during the year BD3200 Withdrawals BD800 Service Revenues BD8300 - Wages Expense BD600 - Utilities Expense BD2500 Supplies Expense BD1100 - Rent Expense BD3300 Fees Income BD2700- Furniture BD10000. Required: compute the amount and show solution steps of: 1- Total current assets. 2- Total fixed assets. *
.ull Airtel TZ 3G 10:08 @ 12% I 4. The trial balance below was extracted from the books of CiciCaca Enterprise as at 31 Mac 2020: Particulars Debit Credit RM RM 377,000 432,000 102,000 625,000 950,000 Purchases and Sales Plant and machinery Vehicles Land and building Accumulated depreciation: Plant and machinery Vehicles Discount allowed and discount received Returns inwards and returns outwards Carriage inwards Carriage outwards Custom duties Drawings Provision for doubttul debts Salaries and wages Electricity and water Rent and rates Insurance Mortgage on land and building Repairs and maintenance Commission earned Accounts receivables Account payable Inventory-1 April 2019 Cash at bank Capital 175,000 39,000 760 12.200 1,500 44,000 4,700 5,500 15,400 3,600 2,000 300,000 65,000 4,000 55,000 450,000 6,300 95,000 187,000 166,500 51,000 41,100 429,640 2,320,100 2,320,100 TOTAL The following additional information is to be taken into consideration: i. Increase in provision for doubtful…