Q4) Following is the Trial Balance of Ali Trading Company as on 31-12-2021. You are required to prepare Income Statement and Balance Sheet. Name of Account Machinery Account receivable Bank account Building Purchases Opening stock Drawings Carriage in Wages Salaries expenses Sale returns Postal expenses Trade expenses Total SR 12,000 10,690 3,150 7,928 3,700 • • 384 250 600 1,910 1,300 119. 133 700 42,864 End period adjustments are as follow: Name of Account Sales Unearned interest SR 27. Salaries paid in advance SR 120. Account payable Interest received Capital Total The merchandise inventory as on 31-12-2021 was valued at SR 1,500. Trade expense paid in advance SR 200. Depreciation on machinery SR 3000 and Building SR 928. Outstanding wages SR 120. SR 10,000 12,408 627 19,829 42,864

Below are the accounts of King's Landing Trading for the year ended June 30, 2020 Prepare the Statement of Financial Position. (The accounts are not in order) Include the additional information when making the Balance sheet Cash on hand P150,000 20,000 20,000 Trade securities Accounts Receivable Prepaid rent Merchandise Inventory Prepaid Utilities Cash on bank 12,000 38,000 15,000 100,000 42,000 Advance to employees Land 120,000 220,000 65,000 Building Furniture and Fixture Accounts Payable Notes Payable Unearned Revenue 120,000 50,000 30,000 20,000 11,000 Taxes Payable Warranty payable Loan(lyear) Mortgage Bonds Payable Goodwill Trademark 35,000 200,000 150,000 25,000 10,000 The beginning capital of King's Landing Trading is 120,000. During the year the owner made an additional investment of P50,000 and withdrew P30,000 for personal use. Net income during the year amounted to 56,500. The business assessed their Assets and incurred a depreciation on Building for P20,000 and Furniture…

(a) Describe the detail of the transaction being performed in the following screen. (b) Give the journal entry that MYOB made as a result of the transaction in part (a) (Note: account numbers are not required, just use account names.)

23. Prepare closing entries rom the following end-of period spreadsheet. Austin Entergrises Fadof Peried Spreadsheet For the Year Eaded December JI Adnted Trial Balance Credit Income Statement Debt Balance Sheet Deb 26.500 7000 Account Titie Crede Debit Crede 26,500 7,000 1,000 18300 Cash Accounts Receivable Supplies Equipment Accumalated Depr 18.500 5.000 5.000 Accoures Payabie Wages Payable Common Stock Retained arnings Dividends Eees Earmed Wages Eapense Rest Esgeme Depreciation Eapense Toals Net omeLo) 11,000 100 6.000 2.000 1000 1,000 6.000 2.000 2.000 2,000 59.500 59.500 19,000 7.000 3.00 19000 7000 3.300 .500 .500 29,500 20.0 59.500 5.000 25,000 20.000

Can you help prepare the 2 attached journal entries for this example The management of Banciu Corporation provides you with comparative balance sheets at December 31, 20X1, and December 31, 20X0, appearing below.     December 31,    20X1 20X0 Assets             Cash $ 174,000   $ 223,200   Accounts receivable   306,000     327,600   Allowance for uncollectible accounts   (19,200 )   (20,400 ) Inventories   579,600     645,600   Machinery and equipment   1,112,400     776,400   Accumulated depreciation on machinery and equipment   (499,200 )   (446,400 ) Leasehold improvements   104,400     104,400   Accumulated amortization on leasehold improvements   (69,600 )   (58,800 ) Securities held for plant expansion   180,000     0   Patents   33,360     36,000   Totals $ 1,901,760   $ 1,587,600   Liabilities and stockholders’ equity             Accounts payable $ 279,360   $ 126,000   Dividend payable   48,000     0   Current portion of 6% serial bonds…

! Required information [The following information applies to the questions displayed below.] The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Debits $25,400 Credits 16,200 13,600 156,000 $7,500 6,600 151,000 46,100 Totals $211,200 $211,200 The following is a summary of the transactions for the year: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $142,100, and on account, $56,200. Collect on accounts receivable, $52,300. Receive cash in advance from customers, $13,700. Purchase supplies on account, $10,800. Pay property taxes, $9,300. Pay on accounts payable, $12,200. Pay salaries, $131,600. Issue shares of common stock in exchange for $35,000 cash. Pay $3,600 cash dividends to stockholders. 1. 3. 6. & 10. Post the…

The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost $71,260 73,735 77,585 April May June Production 1,120 units 1,570 units 2,270 units a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places. per unit LA b. Using the high-low method, determine the total fixed costs.

Required information [The following information applies to the questions displayed below.] Lawson Consulting had the following accounts and amounts on December 31. Totals Cash Accounts receivable Equipment Accounts payable Common stock Use the above information to prepare a December 31 trial balance. LAWSON CONSULTING Trial Balance December 31 $ Debit $14,500 6,400 8,400 Rent expense 4,710 Wages expense 22,190 Dividends Services revenue 0 $ Credit 0 $ 3,400 17,700 3,900 8,000

Record the following transactions for the Scott Company: Transactions: Nov. 4 Received a $6,500, 90-day, 6% note from Tim’s Co. in payment of the account. Dec. 31 Accrued interest on the Tim’s Co. note. Feb. 2 Received the amount due from Tim’s Co. on the note.   Required:   Journalize the above transactions. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places. Assume a 360-day year when calculating interest. CHART OF ACCOUNTS Scott Company General Ledger   ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Batson Co. 122 Accounts Receivable-Bynum Co. 123 Accounts Receivable-Calahan Inc. 124 Accounts Receivable-Dodger Co. 125 Accounts Receivable-Fronk Co. 126 Accounts Receivable-Miracle Chemical 127 Accounts Receivable-Solo Co. 128 Accounts Receivable-Tim’s Co. 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable-Tim’s Co. 141…

Sagar