1. Wellco paid $14,500 in cash for a delivery truck. (a) (b) (c) S (d) (e) S (f) (g) (h) S (1) (1) S ********** H g H ge ge Buisness Math: Q7: T-Accounts D (b) (c) (a) (d) (e) (h) (f) (i) (j)
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- Revenue R100 000, Debtors (opening R50 000, closing R110 000), Calculate Cash Receipts from Customers. Select one: a. R60 000 b. R40 000 c. R110 000 d. R100 000On Dec 31, the company has $30.000 on hand; Cash($) account has a balance of 40.000 TL and exchange rate is 1,25 TL/$. Which entry is made on Dec 31? a. 2.500 debit to 100-Cash($) and credit to 646-Forex Gain b. 2.500 debit to 656-Forex Loss and credit to 100-Cash($) C. 2.500 debit to 100-Cash($) and credit to 656-Forex Loss d. 37.500 debit to 100-Cash($) and credit to 646-Forex GainOn Dec 31, the company has $30.000 on hand; Cash($) account has a balance of 45.000 TL and exchange rate is 1,25 TL/$. Which entry is made on Dec 31? a.7.500 debit to 100-Cash($) and credit to 646-Forex Gain b.7.500 debit to 100-Cash($) and credit to 656-Forex Loss c.37.500 debit to 100-Cash($) and credit to 646-Forex Gain d.7.500 debit to 656-Forex Loss and credit to 100-Cash($)
- Liquid Company has the following information available at year end 2018: Cash Notes payable (current) P40,000 Common stock P140,000 P500,000 Gross income Plant and Equipment, net Total assets P60,000 P252,000 P480,000 Additional data: Current ratio 1.9:1.0 Debt-to-equity Inventory turnover based on (Sales divide by ending inventory) Inventory turnover based on (Cost of sales divide by ending inventory) 1.4:1.0 15 times 10 timesinformation to answer question 4. Cash R10 000 Accounts receivable(debtors control) R30 000 Inventory R80 000 Prepaid insurance R 6 000 Fixed assets R200 000 Accounts payable (creditors control) R30 000 Income received in advance R25 000 Wages payables R5 000 Long-term liabilities R70 000 Capital R196 000 Calculate the current ratio. A. 2:1 B. 1.0:1 C. 2.1:1 D. None of the aboveOn Dec 31, the company has $30.000 on hand; Cash($) account has a balance of 40.000 TL and exchange rate is 1,25 TL/$. Which entry is made on Dec 31? O a. 2.500 debit to 100-Cash($) and credit to 646-Forex Gain O b. 2.500 debit to 656-Forex Loss and credit to 100-Cash($) O c. 2.500 debit to 100-Cash($) and credit to 656-Forex Lss d. 37.500 debit to 100-Cash(S) and credit to 646-Forex Gain
- Comparative data from the Statement of Financial Position is given below for ACME Corporation for the years 2022 and 2021. Assets Cash Accounts receivable Supplies Total assets Liabilities Current liabilities 2022 $66,000 54,000 7,500 $127,500 $47,100 2021 $83,000 38,200 6,100 $127,300 $51,400Q4 : ( A ) Assume that The average monthly sales of company ( x ) is $ ( 45000 ) and The average monthly receivable account is $ ( 10000 ) Days , sales outstanding Find the days , sales outstanding#7: Unearned Revenue, beg 15,000; Unearned Revenue, end 75,000; Collection of cash from advance paying customers, 90,000.00. The servce performed for advanced paying customers amounted to _________. (Round your answers to the nearest 2 decimal places)
- A company provides services to customers on account for $2,100. Indicate the amount of increases and decreases in the accounting equation. Assets Liabilities Stockholders' Equity + 4) 44 F10 F7 20 F3 F5 F2 F1 & # 3 4 5 6 7 8 Q W E R T Y K S D F G C V alt alt command option ption command .. .. * co4 Cost of got ld-atatoment. The following data are provided by hé conlroller of Fonsacola Cofporatlon: CAsh. Accounts. rocelyáble.. Inventories: $ 240,000 348,000 ..........il.... ........ .....................p...... ........ Flnished goods. Work In procese. Materlals. Maldrial piurchaopdii.. i. January 1 $64,200, 29,800 88,000 December 31 $88,000 30,800 64,000 ti....... 366,000 8,000 488,400 344,200 Fiatory.overha KOxetuding depreciatiori). Mirkelna, indinobirAlve.xpiņaan(axoludina dgpreciatlon) . biprecia flon (0mandatuhoi, 10% markeling,and, adminia ........... ... . 116,000 1,844,000 523,600 0,800 Salos... Direct labor:e Frelght on materjah purchaed....in....it... 84,000 18,000 .........**** Rantal'Inicome..... Interast on. bondeipayaple ... ........ .....'. (CGAAC adapted) Hoquired: Prepare a cost of goode sold statement:1. Compute the current assets.Cash Php 25,867.00Barney’s drawing 50,485.00Accounts Payable 78,584.00Notes Receivable 45,051.00Building 1,500,125.00Inventory 33,669.002. Compute the Net Income.Service Income Php 356,867.00Prepaid Rent 16,800.00Interest Expense 1,523.00Barney’s drawing 21,786.00Taxes 4,544.00Utilities Expense 3,651.003. The liabilities of Bb Barn are equal to 1/3 of thetotal assets. The owner's equity is P 6,300,500. Whatis the amount of the liabilities?4. Prepare journal entries to the following transactionsfor the year 2020.Sept. 1 V Barney invested Php 150,000 in Barney repair ShopSept 3 Purchased equipment worth Php 80,000 on account.Sept. 12 Paid Php 25, 000 for the equipmentpurchased dated Sept. 3, 2020.Sept. 15 Rendered service amounting toPhp 45,000.Sept. 17 Paid salaries to employees, Php16,000