April UX4, Go a capital of ne pald into a business account. The following is a summary of the cash transactions for the first year: RM Cash sales 34,628 Cash paid to suppliers for purchases 20,700 Salary of assistant 4,000 Purchase of motor van on 31 March 20x5 8,000 Godiva's drawings during the year 4,800 Electricity payments 1,120 Rent for the year 2,200 Postage and stationery 700 The following further information is relevant: (i) At the end of the year, Godiva was owed RM8,512 by his customers and owed RM11,344 to his suppliers. (ii) Godiva promised his assistant a bonus of RM800. This had not been paid at 31 March 20x5. (iii) At 31 March 20x5, there was inventory of RM8,514 and Godiva owed RM340 for electricity for the last quarter of the year. (iv) As the motor van was acquired in the last day of March, Godiva has decided not to charge any depreciation for the year. (v) Rent paid in advance at 31 March 20x5 amounted to RM175.

April UX4, Go a capital of ne pald into a business account. The following is a summary of the cash transactions for the first year: RM Cash sales 34,628 Cash paid to suppliers for purchases 20,700 Salary of assistant 4,000 Purchase of motor van on 31 March 20x5 8,000 Godiva's drawings during the year 4,800 Electricity payments 1,120 Rent for the year 2,200 Postage and stationery 700 The following further information is relevant: (i) At the end of the year, Godiva was owed RM8,512 by his customers and owed RM11,344 to his suppliers. (ii) Godiva promised his assistant a bonus of RM800. This had not been paid at 31 March 20x5. (iii) At 31 March 20x5, there was inventory of RM8,514 and Godiva owed RM340 for electricity for the last quarter of the year. (iv) As the motor van was acquired in the last day of March, Godiva has decided not to charge any depreciation for the year. (v) Rent paid in advance at 31 March 20x5 amounted to RM175.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 13MCQ

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