The Kamran Steel Ltd. engaged in the following transactions during the month of December 2018: 01: Issued 2,000 shares of common stockat  200 per share 03: Paid office rent for the month of December Rs 5000. 06: Purchased office supplies Rs 2500. 12: Purchased office equipment on account Rs45,000 16: Purchased business car for Rs 50,000. Paid Rs200,000 cash and issued a note for the balance. 21: Billed clients Rs 24,000 on account. 25: Declared dividends Rs 30,000. The amount of dividends will be distributed in December. 28: Paid utility bills for the month of December Rs1800. 29: Received Rs 20,000 cash from clients billed on December 21. 30: Paid salary for the month of December Rs 8,500 Required: Record the above transactions in a general journal

The following summary transactions occurred during the year for Daisy. Cash received from: Collections from customers $386,000 Interest on notes receivable 9,000 Collection of notes receivable 56, 000 Sale of investments 33,000 Issuance of notes payable 106,000 Cash paid for: Purchase of inventory 166, 000 Interest on notes payable 8,000 Purchase of equipment 91,000 Salaries to employees 96,000 Payment of notes payable 28,000 Dividends to shareholders 1,000 Required: Calculate net cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.)

The Richard’s Red Company maintains a checking account at the Bank of the North. The bank statement for the month of October 2024 indicated the following: balance on October 1, 2024 was $32,690, deposits for October totaled $86,000, checks paid in October totaled $75,200, service charges for October totaled $350; October NSF checks totaled $1,600; a monthly loan payment deducted by the bank directly from the company’s bank account totaled $3,400; and the ending balance on October 31, 2024 totaled $38,140. At the end of October 2024, Richard’s accounting records indicated a balance in its checking account of $42,544. October 31st deposits in transit were $4,224, and outstanding checks totaled $5,620. In addition, a check for $500 to purchase office furniture was incorrectly recorded by the company as a $50 disbursement. The bank correctly processed the check during October. Assuming the company has no other cash, the amount Richard’s Red would report for cash as a current asset on…

Recording Note Transactions The following information is extracted from Tara Corporation’s accounting records: May 1 Received a $6,000, 12%, 90-day note from V. Leigh, a customer. May 6 Received a $9,000, 10%, 120-day note from C. Gable, a customer. May 11 Sold the Leigh and Gable notes with recourse at the bank at 13%. In addition, borrowed $10,000 from the bank for 90 days at 12%. The bank remits the face value less the interest. The estimated recourse liability for Leigh and Gable is $84 and $110, respectively. July 31 The July bank statement indicated that the Leigh note had been paid. Aug. 10 Repaid the $10,000 borrowed on May 11. Sept. 4 Received notice that Gable had defaulted on the May 6 note. The bank charged a fee of $10. Paid the amount due on the Gable note to the bank. Informed Gable to pay Tara the entire amount due plus 11% interest on the total of the face amount of the note, the accrued interest, and the fee from the maturity date until Gable remits the amount owed.…