4. Anderson Bros., Chennai has a branch at Agra. All goods required for sale at Agra are supplied from Chennai at cost-plus 25% and all cash received at the branch is banked daily in the Head Office Account opened in a Bank at Agra. From the following particulars, prepare Branch Account and Branch Debtors Account. Particulars Rs. Particulars Rs. Cash Sales Reserve for Doubtful Debts Return from Debtors 25000 Branch expenses paid by head office: Stock (1.1.20..) 7900 1400 Debtors (1.1.20...) 11300 1500 Petty Cash (1.1.20....) 90 400 Goods invoiced to branch Returned goods to head office 1000 Rent 1400 1C00
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- The Cash Receipts Journal of the Silicon Valley Company shows the following accounts and account balances: • Sales P 125,000 • Accounts receivable 65,000 • Sundry accounts (credit) 1,802,650 • Sales discount ? If sales discount is 4% of sales balance, how much is the cash balance per cash receipts journal? A. P1,737,650 B. P1,987,650 C. P1,992,650 D. P1,857,65016. Ludwig Company showed the following current assets as year-end: Cash 3,200,000 Accounts Receivable 2,500,000 Inventory 2,000.000 Total Current Assets Z000.000 Cash on hand, including customer postdated check P100,000 and 10U P50,000 500,000 Cash in bank per bank statement (outstanding Check at year-end P200,000) 2.000.000 3,200,000 Total cash What total amount should be reported as current assets? a. 7,700,000 b. 7,450,000 c. 7,400,000 d. 7,500,000TS TaeKook Co. provided the following data on December 31, 2020: Cash- P1,800,000 Accounts receivable- P3,000,000 Inventory- P1,900,000 Accounts payable, net of debit balance of P50,000- P2,450,000 The cash of P1,800,000 included cash in bank of P1,650,000, a customer check of P100,000 marked as NSF and an employee IOU of P50,000. The cash in bank of P1,650,000 is the balance per bank statement. On Dec. 31, 2020, the outstanding check amounted to P250,000. The accounts receivable included the following: Customer's debit balances- P1,600,000 Advances to a subsidiary- P400,000 Advances to suppliers- P200,000 Receivable from officers (due currently)- P300,000 Allowance for doubtful accounts (credit)- P 100,000 Selling price of merchandise invoiced at 120% of costs, undelivered and excluded from inventory- P600,000.00 How much is the total cash and receivables, respectively, of BTS TaeKook Co. as of the end of 2020? A. P1,650,000 and P2,400,000 B. P1,400,000 and P2,200,000 C.…
- X opened a branch at Lahore on 1/7/2020. Goods are sent from the Head Office at cost plus 33 ½%. The branch is advices to deposit cash every day in the bank in Head Office.. Petty cash at branch is maintained on impress system. Cash sent to branch for expenses:500, furniture purchased for branch 10000, goods sent to branch at invoice price:100000, Expenses paid by the Head Office 4600, Cash sales by branch 25000. Received debtors.:16000, Discount allowed 300, Bad debts 100, Return by debtors : 800, Petty expenses paid by branch :600, Stock at cost 31/12/2020 18000 (excluding stock received from Debtors). Depreciation on furniture@10% p.a. From the following particulars prepare Branch account in the books of Head Office for the period ending 31/12/2020Suraya Enterprise has a current Bank Kasih Berhad account with Bank Kasih Berhad. Below Bank Statement are the transactions of cash book and Date Details Debit Credit Balance 2021 RM RM RM April bank statement for the month of April Opening balance Cheque - 123123 Deposit Cheque-123125 Cheque-123126 4.550 2021: 850 7,700 2,500 10,200 10 450 9,750 16 500 9,250 Cash Bouk (Bank Column Only) 18 Credit transfer 300 550 Particular Cheque No. Date RM Date Particular Cheque No. RM 9.250 8350 20 Cheque-123127 300 2021 2021 25 Cheque-123128 900 April 1 Balance b/d 3 Hake Trading 8,550 April 2 Prchases 6 Izzat Trading 123123 850 28 Bark charges 80 4.20 2,500 30 Closing balance 123124 500 8,270 12 Joyne 556679 1,660 10 Mamat 123125 450 15 Suhaimi 123126 500 18 Purchases 123127 300 25 Rental 28 Salary 18 Sales 799 123128 960 Additonal Informaton: 123129 2,200 29 Zulaika 1 On 15 April 2021, the accourtant derk wrongly recorded the cheque no. 123126 paid 123130 110 30 Balance c/d 8,639 to Suhaimi for…The Cash Receipts Journal of the Company shows the following accounts and account balances:•Sales P 125,000•Accounts receivable 65,000•Sundry accounts (credit) 1,802,650 •Sales discount ? If sales discount is 4% of sales balance, how much is the cash balance per cash receipts journal?
- Question: X opened a branch at Lahore on 1/7/2020. Goods are sent from the Head Office at cost plus 33 2%. The branch is advices to deposit cash every day in the bank in Head Office. Petty cash at branch is maintained on impress system. Cash sent to branch for expenses:500, furniture purchased for branch 10000, goods sent to branch at invoice price:100000, Expenses paid by the Head Office 4600, Cash sales by branch 25000. Received debtors.:16000, Discount allowed 300, Bad debts 100, Return by debtors : 800, Petty expenses paid by branch :600, Stock at cost 31/12/2020 18000 (excluding stock received from Debtors). Depreciation on furniture@10% p.a. From the following particulars prepare Branch account in the books of Head Office for the period ending 31/12/2020QUESTION NO.16 The following information and particulars relate to Lahore branch for the year 2020-2021: >>>31-3-2020: Stock 50000; Debtors 70000; petty cash 250. >> 31-3-2021: 75000; Debtors 95000; petty cash 120. Goods costing 550000 was sold by branch @25% on cost. Cash sales amounted to 150000 and the rest credit sales. Branch receives all goods from head office. Branch spent30000 for salaries 12000 for rent and 8000 for petty expenses (all expenses remitted by head office). You are required to prepare Lahore branch in the books of head office for the year of 20-21.[The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance $ 48,000 40, 380 67,830 53,930 ৪9,938 ৪৪, 978 88,470 88,520 88,370 Dec. 1 $ 7,620 550 $28,000 13,900 11 17 23 36, 800 26 960 NSF Interest earned 30 19, eee $300 5e 19, 200 31 31 Service charge 150 NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance Deposits Dec. 11 48, e00 28,e00 36, e00 19,e09 13, еев Checks written during December: 7,620 550 13,900 960 23 30 31 150 19, 200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. 5. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? 6. If the company also has $300 of petty cash on hand, which is recorded in a different account called Petty Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the…
- The Cash Receipts Journal of the Marites Co shows the following accounts and account balances Sales P 125,000 Accounts receivable 65.000 Sundry accounts (credit) 1,802.650 Sales discount ??? If sales discount is 4% of sales balance, how much is the cash balance per cash receipts journal?1. A company has P2,320,000 cash balance per bank statement, P456,000 deposit in transit, P320,000 NSF check and P278,000 outstanding check. What is the adjusted cash balance? A. P2,142,000 B. P2,178,000 C. P2,456,000 D. P2,498,000Problem A: Net FloatABC Corporation has daily cash collections of P50,000 and daily cash disbursements of P60,000. A customer check is creditedon the bank statement an average of 5 days from the issue date. Company checks remain outstanding an average of 3 daysfrom the issue date.Required:1. Collection float2. Disbursement float3. Net Float (Place answer in parenthesis if unfavorable.)