Exercise: Preparation of Statement of Comprehensive Income (SOCI) and Statement of Financial Position (SOFP), Comprehensive Example Questions: The following is the trial balance extracted from the books of Syarikat Indah Alam as at 31 December 2019 Syarikat Indah Alam Trial Balance as at 31 December 2019 Particular Debit (RM) Credit(RM) 50,000 Capital at 1 January 2019 Drawings 2,400 Freehold premises (cost) 16,000 16,600 Fixture and fitting (cost) Stock at 1 January 2019 Cash 16,000 4,600 Debtors 42,660 Creditors 26,392 Loan from Maybank 5,000 Bad debts 640 Rent 4,970 240 Bank Charges Carriage inwards 380 Carriage outwards 1,092 Discount allowed 250 Electricity 5,720 General Expenses 4,750 Printing and stationary 2,350 Salaries 33,300 3,480 Travelling expenses purchases 173,096 Sales 247,090 Return inwards 500 Return outwards 270 Discount received 276 Total 329,028 329,028 Closing stock as at 31 December 2019 was valued at RM16,100 You are required to prepare: a) The statement of comprehensive income for the year ended 31 December 2019 and b) The statement of financial position as at the date c) Classify the trial balance Items either as the SOCI items or SOFP items e У financial position Statent of

Muffin Co. issues an $800,000, 10%, 10-year mortgage note on December 31, 2019, to obtain financing for a new building. The terms provide for semiannual installment payments of $64,194. Instructions Prepare two entrles to record the mortgage loan on December 31, 2019, and the first installment payment. Essay Toolbar navigation B I U S

Subject: acounting

est Requirements Raider Investments completed the following investment transactions during 2018: 1. Journalize Raider's investment transactions. Explanations are not required. 2. Classify and prepare a partial balance sheet for Raider's Voltexar investment as of December 31, 2018. 3. Prepare a partial income statement for Raider Investments for year ended December 31, 2018. A (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Raider's investment transactions. Explanations are not required. (Record required" on the first line of the Accounts column and leave the remaining cells blank.) Jan. 14: Purchased 600 shares of Voltexar stock, paying $53 per share. The investment represents intends to hold the investment for the indefinite future. Print Done Date Accounts Debit Jan. 14 Purchased 600 shares of Voltexar stock, paying $53 per share. The investment represents 2% ownership in Voltexar's voting stock. Raider does not have significant influence…

Subject: accounting

Sonic Corporation recorded current assets of $345,200 and current liabilities of $318,650 for year 2020. Compute for Sonic's working capital for the year. Select one: a. $663,850 b. $26,550 O C. 92% d. 1.08

Explain clearly

Identifying and Computing Net Operating Assets (NOA) and Net Nonoperating Obligations (NNO)Following are the balance sheets and statement of earnings for Home Depot Inc. for fiscal year ended February 3, 2019, which the company labels fiscal year 2018. THE HOME DEPOT INC. Consolidated Balance Sheets   February 3, January 28, $ millions, except par value 2019 2018 Assets     Current assets     Cash and cash equivalents $1,778 $3,595 Receivables, net 1,936 1,952 Merchandise inventories 13,925 12,748 Other current assets 890 638 Total current assets 18,529 18,933 Net property and equipment 22,375 22,075 Goodwill 2,252 2,275 Other assets 847 1,246 Total assets $44,003 $44,529 THE HOME DEPOT INC. Consolidated Balance Sheets   February 3, January 28, $ millions, except par value 2019 2018 Liabilities and Stockholders’ Equity     Current liabilities     Short-term debt $1,339 $1,559 Accounts payable 7,755 7,244 Accrued salaries and…

In the account below, calculate the balance for September 16, 20-. Then perform the forwarding procedures required to start a new account page. 3. Account: A/R – Manitoba Equipment Co. No. 211 Date(2021) PARTICULARS P.R. DEBIT CREDIT Dr/Cr BALANCE Aug 15 J22 1,600 00 Sep 4 J26 825 00 16 Ј30 176 00 Асcount: No. Date2021) PARTICULARS P.R. DEBIT CREDIT Dr/Cr BALANCE

45. It is a revenue not yet earned but is collected in advance.A. Accrued Expense.B. Accrued RevenueC. Deferred ExpenseD. Deferred Revenue 46. Accrued revenues should be reported as:A. Assets on the balance sheet.B. Expenses on the income statement.C. Liabilities on the balance sheet.D. Revenues on the income statement.C. Received a bill from Campus News for P300 for advertising in the campus newspaper.D. Billed the Tiger Football Team P200 for cleaning and laundry services. 45. It is a revenue not yet earned but is collected in advance.A. Accrued Expense.B. Accrued RevenueC. Deferred ExpenseD. Deferred Revenue 46. Accrued revenues should be reported as:A. Assets on the balance sheet.B. Expenses on the income statement.C. Liabilities on the balance sheet.D. Revenues on the income statement. 47.A deferred revenue should be recorded by a:A. Buyer when a service is received on payment of cash...B. Seller when a customer pays for a service before the service is renderedC. Seller when a…