business: sport ca owner: Carlos panent business start October 1, 2023 monthly sale: 4000 montly rent: 3700 montly electricity: 327 October 01, 2023, purchase machinery on credit 90000 usage period 3 years, estimated residual value 66000, straight line method October 01,2023 purchase truck on credit 44000, usage period 3 years, estimated residual value 17000, declining balance method rate 27% october 01,2023 invested 200000. preparw balance sheet at March 31, 2026.

business: sport ca owner: Carlos panent business start October 1, 2023 monthly sale: 4000 montly rent: 3700 montly electricity: 327 October 01, 2023, purchase machinery on credit 90000 usage period 3 years, estimated residual value 66000, straight line method October 01,2023 purchase truck on credit 44000, usage period 3 years, estimated residual value 17000, declining balance method rate 27% october 01,2023 invested 200000. preparw balance sheet at March 31, 2026.

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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In the first year of operations, Youtube Company Sales were as follows: Sales Basis Mark-up on Cost Sales Cash 25% P250,000 Charge 33.33% 400,000 Installment 50% 600,000 The cost of goods sold for the year was P900,000. If collections on installment sales during the year amounted to P240,000, how much was the total gross profit realized at the end of the year? a. P50,000 b. P60,000 c. P80,000 d. 230,000
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Colleges Software Guides Search Contact A sale of OMR 39 to S. Yusof was entered in the books as OMR 29, correction will be: O a. Debit Cash 10 and Credit Sales 10 O b. Debit Sales 10 and Credit S. Yusof 10 O c. Debit S. Yusof 10 and Credit Sales 10 O d. Debit S. Yusof 10 and Credit Bank 10 is that part of the original cost of a fixed asset that is consumed during its period of a. Debtors
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Shignment 4-1.pdf - Adobe Acrobat Reader DC (32-bit) File Edit View Sign Window Help Home Tools assignment 4-1.pdf x assignment 4-2.pdf ロ2 女円 1/1 180% - Date of Purchase Plant and Equipment Estimated Sales Value at End of Estimated Useful Life Estimated Useful Life Item Cost a. Jan. 1 Machine A $28,000 5 years $ -0- b. Apr. 1 Machine B 4 years 8,000 56,000 c. Nov. 1 Machine C 8,400 2 years 1,200 Required Prepare the annual adjusting entry at December 31, 2011, Leroux's year-end, for each plant and equipment item. 4313216 Analysis component: What is the purpose of recording depreciation? If depreciation is not recorded, how would the income statement be affected? An asterisk (*) identifies assignment material based on Appendix 4A or Appendix 4B. 4323707 g ASUS Anlete 12 IA pri sc
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