Juice World Jamaica Limited, a leading juice manufacturing company has recently hired you as an Accounting Officer. As per job description, you are required to assist in the preparation of the financial statements. The Accounts Manager has extracted a list of balances as at December 2021 for you to review. Revenue 7 600 010 Administrative Expenses 2 300 000 Distribution Costs 980 231 Interest paid on loan Purchases 125 000 4 500 330 1 018 900 Inventories at 1 January 2021 Trade receivables 630 340 Provision for doubtful debts at Jan 2021 19 634 Bad debts 70 110 Non- current Investment 300 900 Additional notes i. Provide for Administrative Expenses of $500 000 paid in advance at 31 December 2021 and Distribution Costs of $50 528 owing at 31 December 2021 Provision for Doubtful Debts is to be maintained at 10% of receivables ii. iii. Inventories at 31 December 2021 were valued at $1 000 000 iv. Provide for corporation tax of $80 000 which is payable on October 1, 2022 Loan interest accrued $62 500 V. Required: Prepare for presentation to the shareholders a published Income Statement for the year ended 31 December 2021. A. В. Notes to the Income Statement.

Domestic

Kitchen Equipment Company uses the allowance method to account for uncollectibles. On October 31, It wrote off a $1,200 account of a customer, Gwen Rowe. On December 9, It recelved an $800 payment from Rowe. a. Make the appropriate entry for October 31. View transaction list Journal entry worksheet 1 Record the entry to write off $1,200-due from Gwen Rowe. Note: Enter debits before credits. Date General Journal Debit Credit October 31 Record entry Clear entry View general journal

Journalizing Payroll Transactions 1.  Determine the amount of Social Security and Medicare taxes to be withheld. If required, round your answers to the nearest cent. 2.  Record the journal entry for the payroll, crediting Cash for the net pay. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. On December 31, the payroll register of Hamstreet Associates indicated the following information: Wages and Salaries Expense $7,900 Employee Federal Income Tax Payable 900 United Way Contributions Payable 190 Earnings subject to Social Security tax 7,200   Payroll Withholdings     1.  Determine the amount of Social Security and Medicare taxes to be withheld. If required, round your answers to the nearest cent. Social Security Tax $fill in the blank 6752ad03b03cf89_1 Medicare Tax $fill in the blank 6752ad03b03cf89_2   General Journal     2.  Record the journal entry for the payroll,…

Read through the information below for selected transactions during the month of December, 2021 and prepare the required jounal entry to record the transaction.  Post each of the entries below to the general ledger T-accounts attached .   Sold Merchandise for $5,000 to Lee Corp on account on December 9.  Cost of the merchandise was $3,390 and the terms of the sale were 1/15, n/30.

Vishano

please help me with these

Joanne is part of the accounts payable team at a local furniture store, responsible for recording invoices received by the business and payments made by the business. The furniture store receives an invoice for internet usage for the amount of $450. The invoice states that payment is due in 30 days, therefore Joanne records the transaction accordingly and sets a calendar reminder to pay on the due date. Based on this information, the journal entry in the furniture store's accounting system would include:

nkt.1

The sales journal for Carothers Company is shown below.  SALES JOURNAL   Date Sales Slip No. Customer Name   Post.Ref.   AccountsReceivableDebit Sales taxPayableCredit SalesCredit Dec. 1   824   Jim Danta       3,212   312   2,900     7   825   Tom Tome       645   45   600     22   826   Sue Wasco       666   66   600     31       Totals       4,523   423   4,100     Show how the amounts would be posted to the general ledger accounts.