At the end of the count, it was determined that there was an excess of 1000 TL in the safe. Until the reason is found, which account is 1000 TL difference saved?
Q: SA Company prepared the Nove Balance per bank statemer Add: Deposit in transit Total Less: Outstandi...
A: Bank reconciliation statement is a statement which shows the difference between bank statement and c...
Q: Prepare Journal entry, post the journal to ledger and prepare trial balance.Use attached ttile
A: In the above question we have asked to prepare journal entries, ledger and trial balance with the he...
Q: Dividends Per Share Internal Insights Inc., a developer of radiology equipment, has stock outstandin...
A: Dividend means the amount given to shareholder of the company as profit distribution by company. Fir...
Q: First Question
A: Cash Dividend Paid : It is a financing activities Proceeds from sale of equipment resulted to a gai...
Q: Directions shown in picture attached
A: Statement of Owners' Equity: It is also known as the Statement of Changes in equity or Statement of ...
Q: Iqbal Corporation produces and sells a single product, has provided its contribution format income s...
A: Contribution Margin per unit = Total Contribution Margin / Sales unit = Rs. 680,000 / 17,000 units =...
Q: II.DIRECTION: Compute for the amount of interest for the following; 1. Principal or amount barrowed ...
A: Note: question doesn't specify the nature of interest, hence we will assume that interest is charged...
Q: From Davis Corporation, LLC's statement of cash flows, discuss what may have caused the greatest cha...
A: Cash Flow Statement(CFS) shows sources and application of Cash and its equivalents in a systematic m...
Q: Contribution Margin of Walls Corporation, Consumer division is Rs. 1900,000 and the fixed expenses i...
A: Contribution refers to excess of Total Sales over Variable Cost of an entity. It is computed by dedu...
Q: The following is an excerpt from the chief executive officer’s letter to the stock-holders that was ...
A: Financial information is a written record of an organization and individual monetary transactions. B...
Q: Assume that three identical units of merchandise are purchased during October, as follows: ...
A: We have the following information: October 1: Purchased 1 unit for $5 October 12 Purchased 1 unit f...
Q: ABC Corporation reported the following data for the month of January: Inventories: Beginning...
A: Raw material consumed means the material which is used for making the finished product. It is assume...
Q: Quick Inc. has sales of $36,400,000, and the break-even point in sales dollars is $24,024,000. Deter...
A: Margin of safety = Total sales - Break even sales = $36,400,000 - $24,024,000 = $12,376,000
Q: Munawar Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufact...
A: Given that's Actual manufacturing Overhead = ₹150,000 Underapplied Overhead = ₹30,000 Predetermined ...
Q: Zulfiqar Incorporation produces and sells a single product, has provided its contribution format inc...
A: Break even sales are the sales where business earns no profit no loss.
Q: Accounting fraud is the intentional manipulation of financial statements to create a false appearanc...
A: Meaning of Accounting Fraud: Accounting fraud refers to intentional manipulation of financial statem...
Q: On December 31, 2010 and 2011 Balance Sheet of ABC Ltd. Shows the following ASSETS 2011 2010...
A: Cash flow statement discuss about the flow of cash from different activities like operational, inves...
Q: The delivery equipment account is increased with credit or debit
A: Assets means the resources which the business owned and used in furtherance of business. Assets are ...
Q: In what ways the operating, investing and financing cash flows of a growing firm might be different ...
A: Cash flow statement has three sections operating activities, investing activities, and the financing...
Q: In the Economic Order Quantity (EOQ) Theory, if CO £20, D 24,000, EOQ 400, calculate the annua...
A: EOQ theory state and calculate the ideal order quantity that an organization needs to be purchased t...
Q: The Idol Company makes a water-treatment chemical in a single processing department. Direct material...
A: We will only answer first question as it is not specified which question is to be answered. Kindly s...
Q: Accounting Question
A: The formula that can be used to compute the ratio of liabilities to owners' equity is; Ratio=Total L...
Q: Accounting Question
A: Equity - Stock warrants = No. of bonds x No.of detachable stock warrant x Market value of each warra...
Q: What does the word balance on the balance sheet mean? Why are the two halves balanced?
A: In the above questions we have asked the meaning of balance in the word balance sheet .
Q: Which control activity is the entity implementing when credit and debt memorandums are prenumbered a...
A: Control activities helps in assuring that necessary actions are taken to address risks to the achiev...
Q: Complete the following statements with one of the terms listedbelow. A term may be used once, more t...
A: Manufacturing companies indicate those corporations which engage in purchase the raw material and co...
Q: On December 31, 2016, Wesley Inc. granted 4,000 share appreciation rights (SARs) to its employees. W...
A: In the above question we have asked to pass journal entries in relation to share appreciate right wi...
Q: Zulfiqar Corporation uses the weighted-average method in its process costing system. The work in pro...
A: Cost of units transferred can be found out by multiplying equivalent number of units transferred ou...
Q: Prepare statement of cash flow.
A: A cash flow statement is a financial statement that summarizes the amount of cash and cash equivalen...
Q: 5. Financial information should be neutral and bias free" is the dictation of which one of the follo...
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...
Q: Corporation X, with a current market value of P62, gave a dividend of P9 per share for its common st...
A: The stock yield ratio determines how much cash flow an investor is earning for each rupee invested i...
Q: In USA there are seven federal tax brackets for the 2020 tax year: 10%, 12%, 22%, 24%, 32%, 35% and ...
A: The IRS has provided set of rules and regulations for impose of tax on the tax payer. Based upon on ...
Q: On January 1, 2013, Lindsay Owens opened Picture Perfect, a small retail store that sells picture fr...
A: Income statement is a statement which shows the entities expenditure and revenue generated over a pe...
Q: The following is an excerpt from the chief executive officer’s letter to the stock-holders that was ...
A: The outstanding balance of the loan extended to Best Corp. is $900,000 and there is further request ...
Q: Prepare journal entries for each of the following: a. Issued a check to establish a petty ca...
A: Journal entries refers to the process of systematic documentation of the financial transactions of a...
Q: Q1 Moona Inc. produces Mobile phones. Information of the company's operations last year appear below...
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for yo...
Q: Determine the due date and the amount of interest due at maturity on the following notes: Date ...
A: Required details are given below
Q: Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement...
A: To find Net cash flow from operating activities: NetIncome Increase in Current assets Less...
Q: Explain the purpose of the income statement and thestatement of cash flows.
A: Income statement: Under this Statement showing the company’s performance over a period of time by su...
Q: Explain the differences between Limited Liability vs Joint Stock companies. Tell the advantages and ...
A: Joint-stock companies are the companies that trade publicly. Whereas, the limited liability companie...
Q: Kindly solve! Thanks!
A: Different accounts have different effects with increase or decrease on basis of debit and credit.
Q: Lito obtained a loan of P1,000,000 from Ferdie, payable within one year. To secure payment, Lito exe...
A: A chattel mortgage is a type of loan that is primarily used for the purchases of assets that are mov...
Q: Iqbal Corporation produces and sells a single product, has provided its contribution format income s...
A: Number of units to be sold for target profit = (Fixed Costs + Target Profit)/Contribution margin per...
Q: Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method Smiley Corporation wholesal...
A: Bonds payable: It is a long term liability to the organization issuing it. It is issued to raise deb...
Q: 19. The totality of income and revenues at the disposal of the business entity is penpo s payable. c...
A: Income and Revenues of the business are the financial resources of the business which are generated ...
Q: S.S Corporation had sales of Rs. 4,500,000. The fixed expense was Rs. 1,200,000 and variable expense...
A: Contribution margin = Sales - variable expense = Rs. 4,500,000 - Rs. 1,800,000 = Rs. 2,700,000
Q: Question no 3 The market price of the ordinary shares at 31 December 2020 was Rs1.60. The dividend y...
A: Dividend Yield = 2% Market Price per share = Rs 1.6 Dividend paid per share= Dividend Yield * Market...
Q: What is blank is what i need help with please and thank you. god bless
A: As posted multiple independent questions we are answering only first question kindly repost the unan...
Q: According to the PCAOB, which of the following tax services would impair independence? A. Tax consul...
A: The mission of PCAOB is to oversee the auditors of the public companies, protect the investors inter...
Q: The following information was taken from the books of Hunza Manufacturing Company for the month of J...
A: Inventory valuation is the system under the cost accounting were the value of the inventory is value...
34 - At the end of the count, it was determined that there was an excess of 1000 TL in the safe. Until the reason is found, which account is 1000 TL difference saved?
A) 397 counts will be credited to the delivery surplus account
B) Debt to 102 Banks Account
C) Debt to 197 Census Delivery Surplus Account
D) Credit to 100 Cash Accounts
E) Debt to 770 General Administrative Expenses Account
Step by step
Solved in 2 steps
- 17. Find the ending balance if the original balance was $425.32 and the followingtransactions occurred over the space of a week: wrote a check, $16;paycheck deposit, $235.21; check deposit, $30; ATM, $20; wrote a check,$63.45; deposit, $30; maintenance fee, $11; interest, $0.32.A. $609.76B. $610.40C. $650.08D. $649.76Petty cash fund had opening balance of RO 500. During the month the receipts were RO RO 110 staff welfare, 120 petrol, 135 office stationery, and 75 travelling and there was RO 70 left in the petty cash box. The fund amount was raised to RO 600 from the end of the month. The amount required to refill the fund will be a. RO 500 b. RO 430 c. RO 440 d. RO 5307. Journalize the entries to record the following: established a petty cash fund of $350 The amount of cash in the petty cash fund is now $130. The fund is replenished based on the following receipts: office supplies, 116; Sep 1 Sep 30 postage $100. Record any discrepancy in the cash short and over account. D Focus
- 6) Brotherhood Company had the following information relating to its accounts receivable: Accounts receivable, 12/31/21 1,300,000 Credit sales for 2022 5,400,000 4,750,000 125,000 Collections from customers for 2022, excluding recovery Accounts written off 9/30/22 Collection of accounts written off in prior year (customer credit was not reestablished) Estimated uncollectible receivable per aging of receivable at 12/31/22 25,000 165,000 On December 31, 2022, the amortized cost of accounts receivable is a. 1,825,000 b. 1,800,000 c. 1,635,000 d. 1,660,000On April 2, Granger Sales decides to establish a $280 petty cash fund to relieve the burden on ACcounting. a. Journalize the establishment of the fund. If an amount box does not require an entry, leave it blank. Apr. 2 b. On April 10, the petty cash fund has receipts for mail and postage of $41, contributions and donations of $19, and meals and entertainment of $109, and $107 in cash. Journalize the replenishment of the fund. If an amount box does not require an entry, leave it blank. Apr. 10 c. On April 11, Granger Sales decides to increase petty cash to $380. Journalize this event. If an amount box does not reguire an entry, leave it blank. Apr. 11At what amount will accounts receivable for Anderson Company be reported on the balance sheet if the gross receivable balance is $52,000 and the allowance for doubtful accounts is estimated at 4% of gross receivables? Select one: A. $28,200 B. $49,920 C. $52,960 D. $47,000
- 38. Tier Company established a petty cash fund of P10,000 on July 1, 2021. At the end of the month, the count of cash on hand indicated that P3,557.40 remained in the fund. A review of petty cash vouchers disclosed the following expenses had been incurred during the month: Office supplies – P841.60 Postage – P780.00 Representation – P1,000,00 Transportation – P1,321.40 Miscellaneous – P837.60 Other items found in the petty cash drawer were as follows: A sympathy envelope containing P3,500, representing employees’ contributions for the death of the mother of the company’s messenger. An employee’s check for P1,100 dated August 15, 2021. The given information indicates that there is a a. 538 shortage b. 562 shortage c. 562 overage d. 538 overage 39. During 2021, Tartarus Company signed a noncancellable contract to purchase 500 sacks of rice at P900 per sack with delivery to be made in 2022. On December 31, 2021, the price of rice had fallen to P850 per sack. On…8. Use the following information for the next two questions: Pampi's Co. has the following information. Days Outstanding Receivable Balances % collectible 0-60 480,000 1% 61-120 360,000 2% Over 120 400,000 6% During the year, Pampi wrote off P14,000 receivables and recovered 8,000 that had been written-off in prior years. The allowance for doubtful accounts has a beginning balance of P4,000. How much is the net realizable value of accounts receivable at year-end? How much is the doubtful accounts expense?A company’s accounts receivable balance after posting net collections from customers is $150,000. Management has determined the following: $100,000 of the accounts that are 1 to 30 days past due are 2% uncollectible; and $50,000 of the accounts that are 31 to 60 days past due are 10% uncollectible. What is the net realizable value of the accounts receivable? $150,000 $148,000 $145,000 $143,000
- 36. Starboy Company has the following data relating to accounts receivable for the year ended December 31, 2022: Accounts receivable, January 1, 2022 P 480,000Allowance for doubtful accounts, 1/1/22 28,600Cash sales 300,000Sales on account, terms: 2/10, 1/15, n/30 2,560,000Cash received from customers during the year 2,400,000Accounts written off during the year 17,600Cash refunds given to cash customers for sales returns and allowances 15,000Credit memoranda issued to credit customers for sales returns and allowances 25,000 The P2,400,000 collection is composed of the following: Collection from customers availing the 10-day discount period: Gross selling price P 1,440,000Discount taken (1,440,000 x 2%) ( 28,800) P 1,411,200 Collection from customers availing the 15-day discount period: Gross selling price 800,000 Discount taken (800,000 x 1%) ( 8,000) 792,000 Collection from customers paying beyond the discount period: 192,000 Collection of accounts previously written and subsequent…(a) Established a petty cash fund of $235. (b) The petty cash fund now has a balance of $42.80. Replenished the fund, based on the following disbursements as indicated by a summary of the petty cash receipts: office supplies, $74.50; miscellaneous administrative expense, $92.75; and miscellaneous selling expense, $18.60. (c) Increased the petty cash fund to $300. Required: Present entries to record the above transactions. Refer to the Chart of Accounts for exact wording of account titles.Moving to another question will save this response. Question 9 Moon Co. decides to establish a petty cash fund with a beginning balance of $360. At the end of the first month the accumulated receipts represent $80 for delivery expenses, $200 for merchandise inventory, and $55 for miscellaneous expenses. The fund has a balance of $20. The Journal entry to reimburse the fund will include: O Debit to Cash Short and Over for $5 O Credit to Petty Cash for $340 O Debit to Cash for $335 O Credit t to Cash Short and Over for $25
