FAA Module 10 (Week 11) Tutorial Questions V1

SCORE: SECTION: PROFESSOR: Problem #21 Preparation of Financial Statements 2019: Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Allowance for Uncollectible Accounts Cash Calamba, Capital Calamba, Drawing Equipment Transportation In General Expenses (control) Interest Expense Merchandise Inventory, December 31 Notes Payable Prepaid Insurance P 677,820 545,070 462,870 18,790 132,310 612,000 326,400 753,150 224,880 149,390 35,000 1,320,420 299,000 7,350 5,407,160 43,050 259,600 499,600 Purchases Purchases Discounts Purchases Returns and Allowances Santiago, Capital Santiago, Drawing Sales Sales Returns and Allowances 244,800 7,155,000 375,750 385,880 Selling Expenses (control) There were no changes in the partners' Capital accounts during the year. The merchandise inventory at the beginning of the year was P1,440,590. The partnership agreement provides for salary allowances of P330,000 for Calamba and P290,000 for Santiago. It also stipulates an interest allowance…

Question: Journalize the required returns! Include excel formula in your answer

Hespeler services financial accounting information for the year ending October 2019 is presented below , assume all accounts have a normal balance

Window Help A education.wi am 1 WP NWP Assessment Player UI Application Question 28 of 42 View Policies Current Attempt in Progress In a service-type business, revenue is considered recognized when the service is performed. at the end of the year. at the end of the month. when cash is received. Save for Later

i have completed this in excel but would like to compare my answers

Please answer this accounting question correctly

Prepare a trial balance T August 31, 2020

the information in the screenshot we should use to to do the follwoing for year ending sep 30 2020.   Trial balance statment lf profit and loss statement of finincial position workings must show workings used to get the trial balance such as the statment of affairs and control accounts. Please avoid solution in image format thank you

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Complete the accounting cycle using the adjusted trial balance below. JM PHOTOCOPYING CENTER Adjusted Trial Balance December 31, 2019 Account Title Debit Credit Cash P 16.500.00 Accounts Receivable 7.500.00 Allowance for doubtful accounts P 150.00 Note Receivable 5,527.50 3.000.00 Unused Supplies Prepaid rent 5.000.00 Photocopying Equipment 30,000.00 450.00 Accumulated Depreciation - Photocopying Equipment Furniture and Fixtures 5.000.00 Accumulated Depreciation - Furniture & Fixtures 75.00 Accounts payable 2.500.00 Loan payable 50,000.00 Notes payable 5.000.00 Salaries Payable 816.67 Unearned Photocopying Revenues 1,800.00 Mercado, Capital 10,000.00 Mercado, Drawing 500.00 Photocopying Revenues 24,227.50 Taxes and Licenses Expense 2,000.00 Salaries expense 4.800.00 Supplies expense 7,000.00 Utilities expense 2,500.00 Rent expense 5,000.00 525.00 Depreciation Expense Bad debts expense 166.67 P 95,019.17 P 95,019.17 Totals Requirements: 1. Prepare Financial Statements: Profit and loss…

Classified Balance Sheet Exam InstructionsPrepare a classified balance sheet for Sandpiper Corporation as of December 31, 2020 using column 2 for detail and column 3 for nets, sub-totals, & totals on the 4-column accounting paper provided online.Use pencil only, place the units, tens, hundreds, thousands, etc. in the proper mini column, and leave the pennies blank. No commas are necessary when you use the accounting paper properly. Dollar signsare used at the top of the column and after a total line. Double underlining should only be used for totalassets and total liabilities and stockholders’ equity.Each section starts all the way to the far left of the description column with a header row, then theitems following with an indentation, and then a net or total row with an additional indentation. If thesection is a single item like retained earnings, no header or net total / rows are necessary. Skip a row between each section. Use column 1 as an overflow from the description column…

Bulmer Retailers Pty Ltd Trial Balance as at 30 June 2020 Account Name Debit ($) Credit ($) Accounts Receivable 20 450   Accounts Payable                    10 300 Accumulated Depreciation - Office Equipment   7 000 Accumulated Depreciation – Delivery Vehicles    7 200 Accumulated Depreciation-Office Furniture and Fixtures   10 000 Advertising Expense 3 700   Allowance for Doubtful Debts   2 490  Bulmer, Capital (1 July 2019)   142 700 Bulmer, Drawings 25 400   Cash at Bank 64 500   Delivery Vehicles 24 000   Depreciation Expense – Delivery Vehicles 2 400   Depreciation Expense – Office Equipment 3 500   Depreciation Expense – Office Furniture and Fixtures  5 000   Discount Received   3 200  Discount Allowed 1 450   Doubtful Debts Expense  2 490   Freight Inwards 2 345   Inventory (1 July 2019) 18 600   Insurance Expense 1 380   Interest and Finance…

please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)

Please correct Solution with Explanation and do not give image format

Created by HASSAN TUGUME Published 15 APR, 8:18 Updated 15 APR, 8:18 21 APR, 23:59 2 attempts left This test will become unavailable after 21 Apr 2024 23:59 0% If you want to start assessment remove unpublished or deadline date RESUME THE QUIZ CAT 2 APRIL 2024 FOA 121 Principles of Accounting - CAT2 Instructions to Candidates: Attempt all questions (all questions are compulsory) Q.1 The following transactions are for Taka Ltd for October 2023.  1st October, Taka the owner of the business started the business with $20,000 cash and $10,000 in the bank account.  2nd, purchased land for the business at $3,000 cash  4th purchased office furniture from Furniture World on credit valued at $2,000  4th, Taka was hired to provide consultancy to a client and was paid $ 300 cash  5th, obtained a bank loan of $18,000, which was deposited in the business bank account.  15th, made part payment of $1,500 by cheque to Accounts payable created on 4th October  06th, deposited $500 into the…

a. What is the main objective of internal b. Why should recordkeeping for assets be separated from custody c. Do you report your findings? QS 7-2 Reporting cash and other current assets LO2 March 31, 2020, fent asset section based on the following alphabetized post-closing trial balance information for White Eagle Company: Debits Credits Account $ 7,000 Accounts payable... Accounts receivable. $ 4,500 Accumulated depreciation. Cash. 15,000 Isaac Whiteagle, capital. Notes payable, due 2026. Petty cash. 600 3,200 Prepaid rent. 8,000 Property, plant, and equipment. Unearned revenue. 9,900 25,800 14,000 4,600

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

How to make journal entry about this.

Open with Google Docs The following trial balance was extracted from the books of Fasuha Trading as at 31 December 2020. Debit RM Particulars Credit RM 12,250 9,150 3,600 Office equipment Motor vehicles Fumiture Accumulated depreciation as at 1 January 2020: Office equipment Motor vehicles Fumiture 2,450 1,373 1,060 3,632 29,608 6,860 Account receivables and account payables Сapital 6% loan to Rara Purchases and sales Discount Advertising Cash in hand Provision for doubtful debts 2,500 19,110 31,560 215 175 4,250 1,630 300 740 8,000 700 Commission received 6% loan from Afina Bank (taken from 1 May 2020) 1,200 1,900 1,260 4,005 1,000 5,270 210 250 610 915 110 Rent Drawings Maintenance and petrol Staff's wages Insurance Cash at bank Carriage inwards Carriage outwards Telephone and electricity Duties on purchases Returns 112 3.415 Inventory as at 1 January 2020 79.710 79.710 TOTAL Page 718 РОСО SHOT ON POCO F2 PRO

Introduction to Accounting I(1) + Back to '27/12/2020-final exam-accounting Meu zinO Question 8 Which of the following accounts would not be closed at the end of an accounting period? Not yet 10 11 answered Marked out of Select one Finish atter P Flag a. Capital Time left 1 question Ob. Income Summary Oc Expense O d. Revenue Clear my choice Next page Previous page

Required information Skip to question [The following information applies to the questions displayed below.]   Alison and Chuck Renny began operations of their furniture repair shop (Lazy Sofa Furniture, Incorporated) on January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1, 2021, follows (amounts are rounded to thousands of dollars to simplify).   Account Titles Debit Credit Cash $ 6   Accounts Receivable 3   Supplies 2   Equipment 5   Accumulated Depreciation   $ 0 Software 10   Accumulated Amortization   4 Accounts Payable   6 Notes Payable (short-term)   0 Salaries and Wages Payable   0 Interest Payable   0 Income Tax Payable   0 Deferred Revenue   0 Common Stock   14 Retained Earnings   2 Service Revenue   0 Supplies Expense 0   Depreciation Expense 0   Salaries and Wages Expense 0   Amortization Expense 0   Interest Expense 0   Income Tax Expense 0   Totals $ 26 $ 26   Transactions during…

Trial Balance 30 June 2020 Account Name Debit ($) Credit ($) Cash at Bank 6 820   Accounts Receivable 20 000    Prepaid Insurance 6 000   Property, Plant and Equipment (PP&E)  270 000   Accumulated Depreciation – PP&E   50 000 Office Computers  64 000   Accumulated depreciation – Office Computers   10 000 Accounts Payable   11 528 Unearned Sales Revenue   16 000 Bank Loan   48 000 P. Clayton, Capital (1 July 2019)   188 142 P. Clayton, Drawings 10 900   Sales Revenue   319736 Other Revenue     Inventory (1 July 2019) 50 786   Purchases 150 800   Purchases Returns and Discount   26 890 Rent Expense 34 050   Gas and Electricity Expense 10 870   Office Cleaning Expense 6 530   Wages and Salaries Expense 25 900   Telephone Expense 2 700   Insurance Expense 8 440   Advertising Expense 2…