4/ 2 Purchased a company automobile for $32,000, with a cash down payment of $1,000 and the remaining $31,000 was financed through the bank (Hint: I still need to PAY this).
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- i am doing chart of accounting general journal, 4/ 2 Purchased a company automobile for $32,000, with a cash down payment of $1,000 and the remaining $31,000 was financed through the bank (Hint: I still need to PAY this). how to solve this problem? with puting into general journal as debit and credit sideRefer to the following transactions for the next three questions. (Note: The following information will also be needed to answer questions no. 11 and 12. You may want to take a picture or write it on a рaper.) Inventory of P 300,000 is bought on credit Equipment costing P 3,000,000 was purchased which was financed by a loan from the bank repayable in 5 years. Paid P 100,000 to accounts payable. Issued P 4,000,000 of shares to shareholders. 11. By how much will total assets increased? а. Р3,200,000 b. P7,200,000 с. Р3.000.000 d. P4,200,000 12. What is the increase in shareholders' equity? а. Р4,300.000 b. P7,000.000 С. Р6.300.000 d. P4,000 000I am not exactly sure what this question is asking me to do. The attached image is the information that is given to me. Below are the questions that I need to solve. The answer to question A is 3,650. That was given to me in the problem.Unknown Amounts Requireda. Total cash received $3,650b. Total cash collected from credit customersc. Notes payable repaid during the periodd. Good and services received from suppliers on accounte. Net income, assuming that no dividends were paid
- 1. Jackie received $10 000 and deposits it in CIBC. The Current RRR is 12.5%. What is the expected change in deposits? 2. You place $9 700 into the bank which was able to create credit worth $106 700. What is the credit creation multiplier? 3. You are given the following information: Initial Deposit $2 750 Change in deposits $11 000 Calculate the RRR. 4. A customer deposits money into a bank which was able to create $10 000 000 in credit from it. The RRR is 10%. What was the value of the initial deposit?Account for the following transactions using T accounts: Sell goods for 90,000£ on credit Receive a cash payment of 50,000£ from the credit customer The business grants a discount of 5,000£ to the credit customer for early repayment Buy a car for 25,000 in cash Pay wages for 8,000£ Open a bank loan for 5,000£, receive the proceeds in cash Identify each transaction by its number. For each account, indicate what type of account this is (i.e. Current Assets, Non-current liabilities, etc.).Problem Solving. 1. Assuming the following information for Uno Company: bank balance P65,000; book balance ? ; deposit in transit P11,000; outstanding check P10,000; credit memo P2,000; and debit memo P500. How much is the adjusted bank balance?
- TRANSACTION : He bought a 10k office equipment paying 3k cash only and the balance will be paid after 30days QUESTIONS 1. So if recording in LEDGER (account name : CASH) is the 3k will be recorded on credit or the 10k? 2. In the LEDGER (account name : OFFICE EQUIPMENT) is the 10k must be recorded on the debit or the 3k? Please be on point on the answer, I'm just a little bit confused to this situation, thankyou! Don't answer the pic attached just answer my 2 questions onlyThis is a bank account used to deposit and withdraw money using the bank branch, using an ATM or Internet banking or by writing a cheque. a. Savings Account b. Time Deposit c. Credit Account d. Current / Checking Account It refers to the amount of money paid out an account. a. Opening and closing balance b. Account holder c. Credit transaction d. Debit transaction This is aimed at those who have a lump sum which they want to invest over a set period of time The money is deposited into the account and left there until the agreed upon date. a. Credit Account b. Savings Account c. Debit Account d. Time Deposit It is the amount of money in the account at the beginning and at the end of the period. a. Credit transaction b. Opening and closing balance C. Account holder d. Debit transaction"We have a contract with our partner bank that they pay us a monthly rebate that is calculated as a portion of the total interchange revenue they receive for each transaction that is run through our platform. As part of our contract/application with our customers we offer cash back rewards that is calculated as a percentage of the revenue that we receive from the bank for each of their transactions."Q: How do other credit card companies treat cash back rewards?
- 4/2 Purchased three computers and a printer from Best Buy for $2,000 how to solve this problem? with puting into general journal as debit and credit side?Suppose that a lottery winner deposits $12 million in cash into her transactions account at the Bank of America (B of A). Assume a reserve requirement of 10 percent and no excess reserves in the banking system prior to this deposit. Instructions: Round your responses to two decimal places. a. Use the following T-account to show how her deposit initially affects the balance sheet at B of A. Step 1 - Bank of America Assets (in millions) Liabilities (in millions) Reserves Deposits Required Excess Loans Total assets Total liabilities b. Has the money supply been changed by her deposit? (Click to select) c. Use the following T-account to show the changes at B of A after the bank fully uses its new lending capacity. Step 2 - Bank of America Assets (in millions) Liabilities (in millions)1 How to do these steps in QBO? Record an owner’s contribution on 1/14/20 to Owners (a new vendor) after receiving a check that was immediately deposited in the amount: $40,000 to account: Owner’s Equity. Record the deposit of funds from a new note payable signed on 1/16/20 with Chase Bank (a new vendor) in the amount of $32,000. Record the payment to Rabobank (a new vendor) to retire an existing note payable on 1/17/20 of $23,000 with interest of $300 using check 325 for a total of $23,300. Record the purchase of a building from Leeds, Inc., (a new vendor) on 1/17/20 in exchange for a note payable of $31,800.