The following transactions relating to Ousman Ltd. were occurred during January, 2022 January 1 Ousman started his businexss with $3,00,000 in cash as capital. 2 Deposited cash into Bank $1,50,000. Purchased office furniture for $40,000 & paid cheque. 5 Purchased goods with $60,000 cash & $40,000 on credit. 8 Sold goods for cash and on credit $45,000 and $25,000 respectively. Paid $40,000 for goods purchased on credit. 12 15 Received $15,000 for goods sold on 8 January. 20 Paid office rent $20,000. Required: (a) Journalize the January transactions (Omit explanations). (b) Post to the ledgen accounts. (c) Prepare a trial balance on January 31, 2022,

Headlands has the following assets at December 31, 2017. Cash in bank-savings account 138,800 Certificates of deposit (270-day) 244,000 Cash on hand 1,200 Postdated checks 6,500 Cash refund due from State Taxing Authority 31,500 Checking account balance 10,800 What amount should be reported as cash? Cash to be reported 2$

Question Carlene Johnson is the Accountant in the Finance Department at Fairway Trading Limited who manages the company Accounts Receivables. She was given the following information by the Finance Manager which was extracted from the debtor's ledger as at December 31, 2022. Category of Total value of Customers Sales To Customer $ Keith Green Karen White June Hinds John Wayne 180,0000 240,000 390,000 380,000 Paul Gayle 346,000 Date of Sales December 16, 30 days 2021 December 10, 60 days 2021 November 15, 2022 30 days June 26, 2022 30 days 30 days August 25, 2022 Terms Percentage provision to be created Date of Last Payment on A/C January 15, 2022 February 14, 2022 December 20, 2022 October 24, 2022 September 24, 2022 Total Amount Paid to Date on Account S 90,500 180,000 170,000 295,000 235,000 The Accountant decided that she would age the debt outstanding in the following category and the percentage to be provided for bad debt in the amount stated beside each category accordingly. Aging…

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"Marquis Smith started IT Consulting Services Incorporated on January 1, Year 1. The company experienced the following events during its first year of operation 1 On June 1 Year 1, the company borrowed $21.600 cash from the bank. The note had a one-year term and 6% annual interest rate 2. On December 31. Year 1, the company adjusted the accounting records to recognize accrued interest expense on the bank note Required: Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA) Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Event Number Assets Cash 21 600 2 Total CNet change in cash 01 21.600 Notes Payable 21,600…

The are the auditor of CK Company for the year ended, Dec. 31, 2020. The finance  manager of the company presented the following information relating to cash balances:    Petty Cash (Imprest fund balance) - P20,000   Cash in Bank – LBP (checking account) - 526,000   Cash in Bank – BDO (savings account) - 700,000   Cash in Bank – Metrobank (peso savings acct) - 200,000   Cash in Bank – Metrobank (dollar savings acct) - $2,000   The following information was gathered during the conduct of your audit:   The total bills and coins as per cash count amounts to P3,000   A total of receipts amounting to P16,240 relating to travel expenses were  unreplenished from PCF as of Dec, 31, 2020   The LBP account has the following transactions and details:   Bank Statement Balance as of Dec. 31, 2020 – P700,000   A total of P50,000 Deposits in Transit   Outstanding Checks amounting to P300,000   Total deposits already included in the bank but not yet recorded in the book,  P70,000   A check that…