The following trial balance was extracted from the books of Night shade Ltd. as at 30 September 2020: 24 Land and buildings Motor vehicles at cost 151,000 60,000 Accumulated depreciation on motor vehicle (1 October 2019) 15,000 Purchases and sales 1,204,000 1,574,050 Inventory (1 October 2019) 91,000 Revenue reserves 66,700 General expenses Salaries and wages Electricity 2,325 244,150 5,600 Bank balance 42,200 Interim dividend paid 7,000 Motor vehicles expenses 4,475 Insurance 7,150 Discounts allowed and discounts received 10,900 8,300 Bad debts written off 3,050 Accounts receivable and accounts payable 136,500 100,700 Debenture interest paid 2,400 Ordinary shares ($ 40 par value) Share premium 160,000 36,000 8% debentures 60,000 Cash in hand 9,000 Directors' fees 40,000 2,020,750 2,020,750 Additional information: 1. IGoods costing $710 purchased on credit on 29 September 2020, were in transit and therefore had not been entered in the books by close of business on 30 September 2020. 2. Inventory as at September 2020 was valued at $112, 300 3. A debtor who owed the company $1,500 was declared bankrupt. His debt has not yet been written off. 4. Allowance for doubtful debts is to be set at 2% of the outstanding receivables. 5. Depreciation is to be provided on motor vehicles at a rate of 20% per annum on cost. 6. As at 30 September 2020, outstanding motor vehicles expenses amounted to $125, 000 while pre-paid insurance amounted to $150. 7. Invoices issued amounted to $950 had completely been omitted from the records as at 30 September 2020. 8. Provision is to be made for outstanding debenture interest and corporation tax of $22,975. 9. The directors have proposed a final dividend of $2.50 per share. Required: 1. Income statement for the year ended 30 September 2020. 2. Statement of financial position as at 30 September 2020.

HAURA DESIGN COMPANY TRIAL BALANCE AS AT 30 JUNE 2020 Accounts Debit Credit RM RM Cash 21,050 Accounts Receivable 6,300 5,000 Inventory Accounts Payable 18,000 Vehicles 80,000 Accumulated Depreciation -Vehicles Humaira Capital Humaira Drawings Freight In Freight Out 32,000 51,800 1,150 800 1,600 Purchase Insurance 500 Sales Return and Allowances 2,100 Purchase Return and Allowances 2,000 Sales Discount 500 Purchase Discount 1400 Sales 70,200 Purchases 35,000 Insurance Expense 600 Interest Revenue 1,100 Salaries Expense 6,000 Rental Revenue 800 Depreciation Expense-Vehicle Bad Debt Expense Prepaid Insurance Salaries Payable Unearned Rental Revenue 16,000 400 1,200 500 400 178,200 178,200 Additional Informations : 1. Inventory as at June 30, 2020 is RM6,300. 2. Net income = RM 13,300 Required : 1. Prepare a Statement of Owner's Equity for the year ended June 30, 2020. 2. Prepare a Statement of Financial Position as at June 30, 2020.

What is the income before the income statement? Cheyenne Corp's unadjusted trial balance at December 1, 2022, is presented below.   Cash $20,100   Accounts Receivable 38,600   Notes Receivable 11,000   Interest Receivable 0   Inventory 34,700   Prepaid Insurance 3,600   Land 20,900   Buildings 141,000   Equipment 59,000   Patent 9,900   Allowance for Doubtful Accounts $500 Accumulated Depreciation-Buildings 47,000 Accumulated Depreciation-Equipment 23,600 Accounts Payable 25,300  Salaries and Wages Payable  0 Notes Payable (due April 30, 2023) 10,500  Income Taxes Payable 0 Interest Payable 0 Notes Payable (due in 2028) 32,100  Common Stock 49,000  Retained Earnings 92,700  Dividends 12,000  Sales Revenue 919,000  Interest Revenue 0 Gain on Disposal of Plant Assets 0  Bad Debt Expense 0 Cost of Goods Sold 674,000  Depreciation Expense 0 Income Tax Expense 0  Insurance Expense 0  Interest Expense 0 Other Operating Expenses 65,900  Amortization Expense 0  Salaries and Wages Expense…

During August 2024, Lima Company recorded the following: Requirements • Sales of $133,300 ($122,000 on account; $11,300 for cash). Ignore Cost of 1. Journalize Lima's transactions during August 2024, assuming Lima uses the direct write-off method. Goods Sold. • Collections on account, $106,400. 2. Journalize Lima's transactions during August 2024, assuming Lima uses the allowance method. • Write-offs of uncollectible receivables, $990. • Recovery of receivable previously written off, $800. Requirement 1. Journalize Lima's transactions during August 2024, assuming Lima uses the direct write-off method. Sales of $133,300 ($122,000 on account, $11,300 for cash). Ignore Cost of Goods Sold. (Record debits first, then credits. Select the explanation on the last line of the journal entratable. Prepare a single compound journal entry.) Accounts and Explanation Debit Credit Date Aug