AY Mini MarketTrial Balance As At 30 September 2015АссountsDebit (RM)8,000Credit (RM)Motor Vehicles (Cost RM12,000)SalaryInventory as at 1 October 2014WagesPurchases and SalesCapitalRent ReceivedInsuranceMotor vehicle maintenanceAllowance for doubtful debts10,0005,50014,00035,80096,800115,1006004,5003,000400Freehold land35,000Loan from HRB Bank (5 years contract)Accounts receivable and Accounts payableOffice Equipment (Cost RM15,000)Cash at bankInterest on loanDrawingsOffice suppliesMachinery (Cost RM120,000)Duty on purchaseTelephone, water and electricityCarriage outwardsCarriage inwardsDiscount allowed and Discount receivedCommission received30,0003,8009,0007,60019,8001,5002,7001,80088,0001,5006002,0005007003,6001,200251,500251,500Additional information to be taken into consideration:(Maklumat tambahan yang perlu diambil kira:)a) Inventory as at 30 September 2015 was RM8,700.(Stok akhir pada 30 September 2015 adalah sebanyak RM8, 700.] 5 ệ © T Ob) Depreciation rate:[Kadar surut nilai:/Machinery - 10% on cost(Pemesinan - 10% atas kon)Motor vehicles – 10% on carrying amount[Kenderaan - 10% pada harga dibawa]Office Equipment – 5% on cost[Peralatan pejabat - 5% atas kon)e) Telephone bill for the month of September 2015 amounting to RM180 was not yetpaid.(Bil telefon bagi bulan September 2015 sebanyak RMI80 masih belum dibayar.RM500 worth of goods and RM500 cash were taken by Encik Azizi for his own use.No records were made in the accounts.[Barangan bernilai RM500 dan tunai sebanyak RM500 diambil oleh Encik Azizi untuk kegunaansendiri. Tlada rekod dilakukan di dalam akaun)Required:[Dikehendaki:i. Prepare Statement of Comprehensive Income for the year end 30 September 2015.[Sediakan Pernyata Pendapatan Kewangan Lengkap bagi tahun berakhir 30 September 2015.)i. Prepare Statement of Financial Position as at 30 September 2015.[Sediakan Penyata Kedwdukan Kewangan pada 30 September 2015)FiltersAdd a caption.

The financial statement is prepared by the corporation to identifying their performance during the…

AY Mini Market Trial Balance As At 30 September 2015 Debit (RM) Accounts Credit (RM) Motor Vehicles (Cost RM12,000) Salary Inventory as at 1 October 2014 Wages Purchases and Sales Capital 8,000 10,000 5,500 14,000 35,800 96,800 115,100 Rent Received 600 Insurance 4,500 Motor vehicle maintenance Allowance for doubtful debts 3,000 400 Freehold land 35,000 Loan from HRB Bank (5 years contract) Accounts receivable and Accounts payable Office Equipment (Cost RM15,000) 30,000 3,800 9,000 7,600 Cash at bank 19,800 Interest on loan Drawings Office supplies Machinery (Cost RM120,000) Duty on purchase Telephone, water and electricity Carriage outwards Carriage inwards Discount allowed and Discount received Commission received 1,500 2,700 1,800 88,000 1,500 600 2,000 500 700 3,600 1,200 251,500 251,500 Additional information to be taken into consideration: (Maklumat tambahan yang perlu diambil kira:) a) Inventory as at 30 September 2015 was RM8,700. /Stok akhir pada 30 September 2015 adalah sebanyak RM8,700.

AY Mini Market Trial Balance As At 30 September 2015 Debit (RM) Accounts Credit (RM) Motor Vehicles (Cost RM12,000) Salary Inventory as at 1 October 2014 Wages Purchases and Sales Capital 8,000 10,000 5,500 14,000 35,800 96,800 115,100 Rent Received 600 Insurance 4,500 Motor vehicle maintenance Allowance for doubtful debts 3,000 400 Freehold land 35,000 Loan from HRB Bank (5 years contract) Accounts receivable and Accounts payable Office Equipment (Cost RM15,000) 30,000 3,800 9,000 7,600 Cash at bank 19,800 Interest on loan Drawings Office supplies Machinery (Cost RM120,000) Duty on purchase Telephone, water and electricity Carriage outwards Carriage inwards Discount allowed and Discount received Commission received 1,500 2,700 1,800 88,000 1,500 600 2,000 500 700 3,600 1,200 251,500 251,500 Additional information to be taken into consideration: (Maklumat tambahan yang perlu diambil kira:) a) Inventory as at 30 September 2015 was RM8,700. /Stok akhir pada 30 September 2015 adalah sebanyak RM8,700.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Accounts Receivable $67,000 Allowance for Doubtful Accounts 1,300 (credit) During 2016, sales on credit amounted to $582,000, $552,800 was collected on outstanding receivables and $2,600 of receivables were written off as uncollectible. On December 31, 2016, Shelton estimates its bad debts to be 4% of the outstanding gross accounts receivable balance. Required: 1. Prepare the journal entry necessary to record Shelton’s estimate of bad debt expense for 2016. 2. Prepare the Accounts Receivable section of Shelton’s December 31, 2016, balance sheet. 3. Compute Shelton’s receivables turnover. (Round to one decimal place.) 4. If Sheldon uses IFRS, what might be the heading for the accounts receivable section in Requirement 2?
Please help with the following question Q3: Shafer Company has the following accounts in its general ledger atJuly 31: Accounts Receivable $49,000 and Allowance for Doubtful Accounts $3,400. During August, the following transactions occurred. Aug.15Sold $30,000 of accounts receivable to More Factors, Inc. who assesses a 2% finance charge. 25Made sales of $2,500 on Visa credit cards. The credit card service charge is 3%. 28Made sales of $4,000 on Shafer credit cards. Instructions (a)Journalize the transactions. (b)Indicate the statement presentation of service charges. BR,
On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances:Accounts Debit CreditCash $ 25,100Accounts Receivable 46,200Allowance for Uncollectible Accounts $ 4,200Inventory 20,000Land 46,000Equipment 15,000Accumulated Depreciation 1,500Accounts Payable 28,500Notes Payable (6%, due April 1, 2022) 50,000Common Stock 35,000Retained Earnings…
Give answer within 45 min I will give you up vote
Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. (Round dollars to the nearest cent.) Annual Purchases Payments Monthly Periodic Finance New Previous Percentage Rate (APR) (as a %) Charge (in $) and Cash and Balance Balance Rate Advances Credits (in $) $2,450.00 $1,334.98 $400.00 4
I WANT TO FIND NET SALES HOW CAN I FIND
1. Accounts receivable balance as of December 31, 2020 2. Allowance for doubtful accounts as of December 31, 2020 3. Net realizable value, December 31, 2020 4. Doubtful accounts expense for 2020
AMCO Limited sells video recorders for cash and on instalment sales. Details of video recorders sold on instalment sales: Cost price R750 Cash selling price R1 000 Deposit, 20% Balance payable in 36 instalments of R35 each commencing 1 month after sale. The company utilizes an interest suspense account and earns interest on the sum of the digits method. On 1 March 2019, the company sold 5 video recorders on instalment sales. REQUIRED Journal entries (including cash transactions) to record all the transactions relating to those 5 video recorders for the year ended 31 December 2019. (All calculations to the nearest Rand). 中

Please do not give solution in image format thanku
plz help thank u
give correct answer