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- A. Cash Discount1. An invoice for Php 70 250 dated March 25, terms 5/10, 2/30, n/60, is paidin full on April 20. What is the total amount paid to settle the account?2. Ms. Garcia received an invoice dated April 18 amounting to Php 30 123for her orderedplants. The invoice comes with cash discount terms, 5/5, 2/15, n/30, R.O.G.The plants were received on April 25. If she paid on May 12, how much did she pay?a). Write up a two-column cash book for a second hand bookshop from the following during the month of November 2020.1st Balance brought forward from last month: cash ¢2950; bank ¢4,240 2nd Cash sales ¢3,1003rd Took ¢2,000 out of the cash till and paid it into the bank4th F. Bell paid us by cheque ¢1945th Paid for postage stamps in cash ¢806th Bought office equipment by cheque ¢310 7th Paid L. Root by cheque ¢94011th 12th 13th 14th 16th 20th 28th 30thWithdrew ¢1,500 from the bank for business use Paid wages in cash ¢400Cash sales ¢430Paid motor expenses by cheque ¢810J. Bull lent us ¢1,500 in cashK. Brown paid us by cheque ¢174 Paid general expenses in cash ¢350 Paid insurance by cheque ¢32021) Solo traders has the following transactions for the month of February 2019. 9- Goods purchased and paid cash of RO 2,200 14- Paid Salaries of RO 800 19- Paid cash of RO 8,400 to Ali mart for the goods purchased on credit. 24- Paid RO 6,600 to Black traders for the goods purchased on credit. Calculate and show the amount which will be transferred to Account payable column of Cash payments book for the month of February 2019? a. RO 8,400 b. RO 2,200 c. RO 15,000 d. RO 800
- Question 5a). Write up a two-column cash book for a second hand bookshop from the following during the month of November 2020.1st Balance brought forward from last month: cash ¢2950; bank ¢4,2402nd Cash sales ¢3,1003rd Took ¢2,000 out of the cash till and paid it into the bank4th F. Bell paid us by cheque ¢1945th Paid for postage stamps in cash ¢806th Bought office equipment by cheque ¢3107th Paid L. Root by cheque ¢94011th Withdrew ¢1,500 from the bank for business use12th Paid wages in cash ¢40013th Cash sales ¢43014th Paid motor expenses by cheque ¢81016th J. Bull lent us ¢1,500 in cash20th K. Brown paid us by cheque ¢17428th Paid general expenses in cash ¢35030th Paid insurance by cheque ¢320 b). The bank balance in the cash book and that of the bank statement may disgrace because ofinformational and timing differences. Explain.On May 1, Year 1, Benz's Sandwich Shop loaned $10,000 to Mark Henry for one year at 6 percent interest. Required a. What is Benz's interest income for Year 1? b. What is Benz's total amount of receivables at December 31, Year 1? c. How will the loan and interest be reported on Benz's Year 1 statement of cash flows? d. What is Benz's interest income for Year 2? e. What is the total amount of cash that Benz's will collect in Year 2 from Mark Henry? f. How will the loan and interest be reported on Benz's Year 2 statement of cash flows? g. What is the total amount of interest that Benz's earned on the loan to Mark Henry?a). Write up a two-column cash book for a second hand bookshop from the following during the month of November 2020. 1st Balance brought forward from last month: cash ¢2950; bank ¢4,240 2nd Cash sales ¢3,100 3rd Took ¢2,000 out of the cash till and paid it into the bank 4th F. Bell paid us by cheque ¢194 5th Paid for postage stamps in cash ¢80 6th Bought office equipment by cheque ¢310 7th Paid L. Root by cheque ¢940 11th Withdrew ¢1,500 from the bank for business use 12th Paid wages in cash ¢400 13th Cash sales ¢430 14th Paid motor expenses by cheque ¢810 16th J. Bull lent us ¢1,500 in cash 20th K. Brown paid us by cheque ¢174 28th Paid general expenses in cash ¢350 30th Paid insurance by cheque ¢320 b). The bank balance in the cash book and that of the bank statement may disgrace because of informational and timing differences. Explain.
- Question 1: Enter the following in the three-column cash book of an office supply shop. Balance off the cash book at the end of the month and show the discount accounts in the general ledger. 2017 June 1 Balances brought forward: Cash: RM420; Bank RM4,940 (credit). 2 The following paid their accounts by cheque, in each case deducting 5% cash discounts: S Braga RM820; L Pine RM320; G Hodd RM440; M Rae RM1,040. 3 Cash sales paid direct into the bank RM740. 5 Paid rent by cash RM340. 6 We paid the following accounts by cheque, in each case deducting a 2.5% cash discount: M Peters RM360; G Graham RM960; F Bell RM400. 8 Withdrew cash from the bank for business use RM400. 10 Cash sales RM1,260. 12 B Age paid us their account of RM280 by cheque less RM4 cash discount. 14 Paid wages by cash RM540. 16 We paid the following accounts by cheque: R Todd RM310 less cash discount RM15; F Dury RM412 less cash discount RM12.…Directions: Read each senterce carefully and determine whether the statement is TRUE or FALS E. Write your answers on the space provided before each number. 1. At the beginning of the day, you have P200 cash in your pocket. At the end of the day, you have P50 left. If you make a horizontal analysis of your cash, you would conclude that your cash has decreased by 80% during the day. 2. In 2019, Entity A reported sales of P100 and profit of P20. In a vertical analysis, a financial statement user would conclude that Entity A was able to generate 20% profit from every peso of its sales during the period. 3. Entity A reported irventory balances of P100 and P50 in 2019 and 2018, respectively. In a horizontal analysis, a financial statement user would conclude that Entity A's inventory has increased by 50% from2018 to 2019. 4. An analysis of the intenelationships of infomation in a single period, expressed as parcentages of a common denomirator, is called horizortal analysis. 5. A comparison…On May 1, Year 1, Benz's Sandwich Shop loaned $12,000 to Mark Henry for one year at 7 percent interest. Required a. What is Benz's interest income for Year 1? b. What is Benz's total amount of receivables at December 31, Year 1? c. How will the loan and interest be reported on Benz's Year 1 statement of cash flows? d. What is Benz's interest income for Year 2? e. What is the total amount of cash that Benz's will collect in Year 2 from Mark Henry? f. How will the loan and interest be reported on Benz's Year 2 statement of cash flows? g. What is the total amount of interest that Benz's earned on the loan to Mark Henry? (For all requirements, round your answers to the nearest dollar amount.) а. Int est income b. Receivables C. d. Interest income e. Cash f. g. Interest earned
- On May 1, Year 1, Benz’s Sandwich Shop loaned $14,000 to Mark Henry for one year at 8 percent interest. Requireda. What is Benz’s interest income for Year 1?b. What is Benz’s total amount of receivables at December 31, Year 1?c. How will the loan and interest be reported on Benz’s Year 1 statement of cash flows?d. What is Benz’s interest income for Year 2?e. What is the total amount of cash that Benz’s will collect in Year 2 from Mark Henry?f. How will the loan and interest be reported on Benz’s Year 2 statement of cash flows?g. What is the total amount of interest that Benz’s earned on the loan to Mark Henry?The following details relates to a second hand bookshop at Mariakani. 2019 Nov: 1st: Balance brought forward from the previous month: cash sh 105; Bank sh2164. 2nd: Cash sales sh 605. 3rd: Took sh 500 from the cash till and paid it into the bank 4th: J Mathews paid us sh 217 by a cheque 5th: We paid for postage stamps sh 60 cash. 6th: Bought office equipment by cheque sh 189. 7th: We paid J.Lucas by cheque sh 50 9th:We received rates refund by cheque sh 72. 11th: Withdrew sh 250 from the bank for business use. 12th: Paid wages in cash sh 239. 14th: Paid motor expenses by cheque sh 57. 16th: L Levy lent us sh 200 in cash Required: From the above transactions write up a two column cash book.Making of Simple Cash Book (Single Column Cash Book )Mr. M starts business with Rs. 20,000 on 1st April 2012. Of this he pays Rs. 15000 into his bank account. His cash transactions during the week were:April 1 Purchased stationery for cash Rs. 100April 2 Purchased goods for cash Rs. 2500April 2 Cash Sales Rs.1500April 3 Received from J Brown Cash on account Rs. 1000April 4 Paid to J. R Cash Rs. 2200April 5 Paid for Advertisement Rs. 400April 6 Cash Sales Rs. 1800April 6 Purchased old machinery Rs. 800April 6 Purchase from sham on credit Rs. 6000