ACCOUNTT TITLE DEBIT CREDIT account payable 60,000 Account receivable 65,000 Bank 38,000 Capital 170,000 Cash 3,000 Comission paid 4,300 Comission received 1,500 Discount Allowed 2,300 Discount Received 3,500 Donations 500 Drawings 500 Fixture and Fittings 35,000 Freight inwards 1000 Freight outward 1,400 General Expenses 2300 Insurance premium 3,600 Interest received on investment 5,000 Land and building 80,000 Loan from Mbb 67,500 opening inventory 1 JAN 2019 26,000 Patent 50,000 Printing and stationery 700 Purchases 65,000 Rates and taxes 3,200 Rental paid 4,000 Rental revenue 3,000 Return inwards 1,500 Returns Outwars 1,800 Sales 88,000 Wages and salaries 12,000 Electricity bills 1,566 Accrued Electricity 1,566 Utility bills 500 Depreciation 7,000 Accumulated Depreciation 7,000 unearned Rental Revenue 1,000 Prepaid rental 1,500 Total 409866 409866

ACCOUNTT TITLE DEBIT CREDIT account payable 60,000 Account receivable 65,000 Bank 38,000 Capital 170,000 Cash 3,000 Comission paid 4,300 Comission received 1,500 Discount Allowed 2,300 Discount Received 3,500 Donations 500 Drawings 500 Fixture and Fittings 35,000 Freight inwards 1000 Freight outward 1,400 General Expenses 2300 Insurance premium 3,600 Interest received on investment 5,000 Land and building 80,000 Loan from Mbb 67,500 opening inventory 1 JAN 2019 26,000 Patent 50,000 Printing and stationery 700 Purchases 65,000 Rates and taxes 3,200 Rental paid 4,000 Rental revenue 3,000 Return inwards 1,500 Returns Outwars 1,800 Sales 88,000 Wages and salaries 12,000 Electricity bills 1,566 Accrued Electricity 1,566 Utility bills 500 Depreciation 7,000 Accumulated Depreciation 7,000 unearned Rental Revenue 1,000 Prepaid rental 1,500 Total 409866 409866

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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complete the rest of the empty boxes, i still need help
Net income is to be answered for upvote.
Debit Credit Cash 18,400 Bank 73,800 Purchase 39,520 Adam 1,680 Return Sales 920 Furniture 24,000 Withdrawal 480 Rent 2,000 Salaries 2,800 Capital 118,000 Sales 8,400 Syazwani – Supplier 12,640 Dinesh – Furniture Store 24,000 Return Purchase 560 163,600 163,600 Prepare Income statement
The park's financial records are as follows. Revenues-camping fees$163,000Revenues - general store$40,000Operating expenses155,000Cash on hand17.200Supplies on hand2,500Original cost of equipment117 ,000Fair value of equiprment132,000Notes payable80,000Accounts payable12.200J Cumby, capital, April 1, 202317,000Accounts receivable21,400J. Cumby, drawings8,500Carmping fees collected for April10,000Insurance paid for in advance for April to June, 2024600 create a balance sheet with Liabilities and Owner's Equity.
Trial Balance to be correced Account Titles Debit Credit Cash in Bank 25,000 Accounts Receivable 20,000 Supplies Inventory 10,000 Tools 5,000 Shop Equipment 30,000 Accounts Payable 5,000 Notes Payable E. Dedumo, Capital E. Dedumo, Withdrawals 8,000 48,000 2,000 Repairs Income 40,000 Utilities Expense 3,000 Salaries and Wages 5,000 Taxes and Licenses 1,000 Total 101,000 101,000
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Total 213 500 Monaro Motors Cash and credit sales in the General Ledger Capital contribution of $10 000 stock (agreed value) and $30 000 cash Purchased prem ises worth $150 000 paying a $10 000 cash deposit with the balance funded by a mortgage from QV Bank Cash sale of parts for $400 (cost price $200) Paid $2 500 cash to Wilson Fittings for shelv ing Purchased stock on credit from HolFord Parts for $2 600 Sold parts on credit to Lemon Rentals for $900 (cost price $450) 7. Aug. 1 Paid wages of apprentice $600 8. Kim Swood took home stock worth $1 500 6. Received $500 cash from Lemon Rentals Analysing Chart an A Date Accounts affected Classification Increase/ Debit Credit (A/L/Oe/R/E) Decrease Bank capital 24 2$ Aug 1. Asset awner'sequity Decreave Increase
e/content/347795/viewContent/1854573/View 2. Identify, under the appropriate heading, whether the following changes are an inflow of cash or an outflow of cash. What amounts were used by internal and external sources to finance the purchase of the assets?
A7 please help....
Cash on hand and in bank 5,960 1,200 8,000 1,100 1,000 1,800 4,000 300 600 32,000 4,500 48,630 Utilities expense Accounts receivable Depreciation expense Allowance for doubtful accounts Rent expense Notes receivable Interest income Supplies Service fees Manalo, drawing Manalo, Capital Prepaid rent Building Accounts payable Salaries payable Accumulated depreciation Unearned service fees 820 88,000 6,000 1,450 18,000 8,600 Compute for the following: (Show computations) 1. Profit (Loss) – please indicate if it is "Profit" or "Loss" P.