5) Insert the following account opening balances:Deblt134,00022,00060,00010,0006,000Account nameCreditAccount no.1-11101-13101-13201-21101-23102-1210ChequeTrade DebtorsInventoryPlant and Equipment at costOffice Equipment at costGST CollectedGST PaldTrade CreditorsBusiness Loan #1Owners Capital2,0003,5002-12202-15102-21003-100033,000100,000100,000

Name: 5) Insert the following account opening balances:Deblt134,00022,00060
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Description: 5) Insert the following account opening balances:Deblt134,00022,00060,00010,0006,000Account nameCreditAccount no.1-11101-13101-13201-21101-23102-1210ChequeTrade DebtorsInventoryPlant and Equipment at costOffice Equipment at costGST CollectedGST Pald

T-accounts are the ledger accounts whereby the transactions recorded in the journal are posted.

Business

Accounting

5) Insert the following account opening balances: Account no. Account name Debit Credit 1-1110 Cheque 134,000 22,000 1-1310 1-1320 1-2110 1-2310 Trade Debtors 60,000 Inventory Plant and Equipment at cost Office Equipment at cost GST Collected 10,000 6,000 2,000 2-1210 3,500 GST Paid Trade Creditors Business Loan #1 Owners Capital 2-1220 2-1510 33,000 100,000 100,000 2-2100 3-1000

5) Insert the following account opening balances: Account no. Account name Debit Credit 1-1110 Cheque 134,000 22,000 1-1310 1-1320 1-2110 1-2310 Trade Debtors 60,000 Inventory Plant and Equipment at cost Office Equipment at cost GST Collected 10,000 6,000 2,000 2-1210 3,500 GST Paid Trade Creditors Business Loan #1 Owners Capital 2-1220 2-1510 33,000 100,000 100,000 2-2100 3-1000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

NOTE: PLEASE ANSWER REQUIREMENT D & E ONLY
After Vaughn Company had completed all posting for the month of December, the sum of the balances in the following accounts payable subsidiary ledger did not agree with the balance of the control account in the general ledger. Name Ryker's Address 286 Buck Avenue Date Item Dec. 2 Name Geordie Company Address 818 Western Avenue Date Item Dec. 1 Balance 10 20 29 Name La Forge Company Address 90210 Baker Boulevard Date Item Dec. 1 Balance 18 29 Name Deanna Troi Address 2720 Sommers Avenue Date Item 27 Ref. Debit Credit Balance 3,400 3,400 P25 Ref. Debit Credit Balance 8,600 CP23 8,600 P32 G15 CP28 10,900 P34 900 Ref. Debit Credit Balance 10,900 P27 4,300 R33 4,300 11,600 5,200 Ref. Debit Credit Balance 7.000 7,000 9.000 700 14000
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Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the credit period. a. $20,700 b. 10,500 7,800 2,500 1,800 C. d. Merchandise e. a. b. $ d. $ 19,700 e. $ Freight Paid by Seller c. $ 3,762 X X X X $400 100 Terms FOB shipping point, n/30 FOB shipping point, n/30 FOB destination, n/30 FOB shipping point, n/eom FOB destination, n/30 Returns and Allowances $1,000 1,300 700 400
part 2 prepare the Allowance for Uncollectible and the Accounts Receivable accounts based on the information presented and balance off each account
Fill in the income summary.
1. Open an accounts payable ledger account for the following vendors: 1. Central Lumber, 220 1. Commercial Tool Warehouse, 230 2. Record a balance on the following account: 1. Interior Plumbing Parts -- $2,320 on August 21.
xamus - cdn.student.uae.examus.net/?rldbqn=1&sessi... ACCT101_FEX_2021_2_Male A company purchased merchandise on credit with terms Ac Payable if the company pays SR485 cash on this account within ten days? e18 3/15, n/3O. How much will be debited to 33 - 34 abe18ce33 b. Accounts Payable should be credited in а. 485 113:22 9 కోల С. 470.45 95abe18ce 33 d. 500 95abe18ce 95abe18ce33 95aber8ce33 95abe18ce33 95abe18ce33 95abe18ce33 MacBook Pro F3 888 F4 FS E 5 F7 67 7 V T. 8 A 9 Y 6. U 11 9.
Make a ledger account with this journal entry.
Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar. a. b. a. S b. $ Merchandise (Invoice Amount) $5,550 2,600 Freight Paid by Seller $700 300 Freight Terms FOB destination, 2/10, n/30 FOB shipping point, 1/10, n/30 Returns and Allowances (Invoice Amount) $1,300 800
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A-7