DR.VEHICLESB12CR.20.320.6Sept1 BankCPJ 480 000 March 31 Asset Disposal120 000Balancec/d360 000480 000480 00020.620.6AprMayc/d1 Balance1 Bank360 000240 000b/dJune30 BalanceB13CR.DR.ACCUMULATED DEPRECIATION ON VEHICLES20.620.4June 30 DepreciationMarch 31 Assets Disposal30 Balance?Junec/d?20.5June 30 Depreciation20.6March 31 Depreciation30 DepreciationJuneJul1 Balanceb/dASSETS DISPOSALCR.DR.20.620.6March 31?March 3 Debtors Control69 500?ACTIVITY 2.18The following information is 27600-12 75014 850ACTIVITY 2.17The information below was taken from the books of Pat Traders.The business provides for depreciation on vehicles at 20 %% per annum on the diminishedbalance. The accounting period ends on 30 June each year.Sept 20.5.INSTRUCTIONS:ly20Complete the three accounts in full (including folio references) for the period1 September 20.3 to 30 June 20.6. Show your workings.Grade 11 Learners bookNew Generation Accounting Grade 11

Depreciation table Date Beginning Carrying cost Depreciation Ending Carrying cost Jun 20.4…

Answered: Complete the three acco 1 September…

Business

Accounting

Complete the three acco 1 September 20.3 to 30

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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GLOBE § 1AW a all 46% O 8:54 pm SET A - At the beginning of the year, Gilas Company had the total assets of P2,000,000 and a total liabilities of P500,000. Answer the following questions: 1. If the total assets increased by P300,000 during the year and total liabilities decreased by P120,000, what is the amount of owners' equity at the end of the year? 2. During the year, total liabilities increased by P200,000, and owner's equity decreased by P140,000. What is the amount of total assets at the end of the year? 3. If total assets decreased by P160,000 and owner's equity increased by P200,000 during the year, what is the amount of total liabilities at the end of the year? SET B - Use the expanded equation to answer each of the following questions: 4. At the beginning of the year, the owner's capital of Matobato Company is P450,000 while its liabilities at the end of the year are P270,000. During the year, the owner withdrew cash for his personal use amounting to P120,000 and the results…
10:19 x SEASON REQUIRED: 2.1 2.2 Phillip Mosena is the sole owner. The information relates to the VAT period ended 31 July 2022. The standard VAT rate of 15% is applicable to all goods purchased and sold. sü • INFORMATION Calculate the VAT amount that is payable to SARS on the 31 July 2022. During August, the accountant came across a document for furniture bought by Phillip Mosena for his personal home, for R46 000 cash. Phillip said that R6 000 VAT included in this amount must be regarded as input VAT. Further investigation revealed that similar documents were regularly entered in the books over the past year. Advise the Phillip on how to deal with this matter. State TWO points. DETAILS A. Amount due to SARS on 1 July 2022 is R31 470. B. The following transactions appeared in the records for July 2022. Total sales Purchases of stock Discount received from suppliers Goods returned by debtors Stock taken by owner at cost Debtors' accounts written off EXCLUDING VAT R535 000 385 000 11…
K M Question 3-Week Five Home X ework i cation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/a 1 Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completi Lauprechta Incorporated has the following employees on payroll. Assume that all the employees has only one job or that step 2 of Form W-4 is not checked and all dependents are under the age of 17. Also, the employer uses the Percentage Method Tables for Manual Payroll Systems with Forms W-4 from 2020 or Later. Use percentage method tables for a manual payroll systems. & Naila Wilfred Byron Annie 10 A Q Employee Naila Wilfred Byron Annie 2 Semimonthly Payroll $ 6,140 $ 5,440 $4,040 $ 4,430 é Required: Complete the table for taxes to be withheld for each pay period. Note: Round your intermediate computations and final answers to 2 decimal places. F2 * N S $ Federal Withholding Tax 3 Answered:…
CH 19 Q 9 Entry for Issuing Materials Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 103 Plastic 400 $29,190 104 Steel 402 39,720 105 Glue Indirect 2,360 106 Rubber 403 3,930 107 Titanium 404 88,680 Journalize the entry to record the issuance of materials. For a compound transaction, if an amount box does not require an entry, leave it blank. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9
PDF 3 28°C Rain TUTORIAL QUESTION 4.pdf X + C Ⓒ File | C:/Users/acer/Documents/UNIVERSITI%20MALAYSIA%20SABAH/SEMESTER%204%20COURSE/BP22603%20FAR%2011/CHAP... Q Q + (0) CD Page view A Read aloud | Add textDraw Highlight Erase Q QUESTION 6 On 1.1.2017, MEERA Bhd grants to an employee the right to choose either 12,000 shares or cash payment equal to the value of 10,000 shares (phantom shares). The grant conditional upon the employee remaining in the company's employ for three years. If the employee chooses the share alternative, the shares must be held for three years after vesting date. At grant date, the company's share price is RM5.00. At the end of year 2017, 2018 and 2019, the share price is RM5.20, RM5.60 and RM6.20, respectively. After taking into account the post-vesting transfer restrictions, the grant date fair value of the share alternative is RM4.90. MEERA shares have a nominal value of RM1 each. Required: a) Compute the amounts of expense and the related liability and equity…
11:37 AM ... alll 4G 26% Vo) e Assignment 2.docx 6. Submission: The last day for submission of this assignment is October 12th, 2021. Please save the document for future clarification. Exercise 1 1. The Creative Electronics Company shows the following selected adjusted account balances as at December 31, 2020: 11 Accounts Payable 2.0 00 15 Salaries Payable 3,0 00 Accumulated 40, Depreciation, Equipment 00 Estimated Warranty Liability 35, 00 29 Mortgage Payable 2.0 00 Notes Payable, 6 months 38, 00 Required: Prepare the current liability section of Creative's balance sheet. $52,000 in principal is due during 2021 regarding the mortgage payable. 2. On January 2, 2020, the Casual Elite Co. acquired land to build a distribution centre by issuing a 6%, three-year note for $200,000. The note will be paid in three annual payments of $74,822 each December 31. The payment schedule follows: Annual Principal Principal Portion of Interest Ye Paymen Portion of Balance at Year- Payment IS ar Payment…
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Complete the following, using exact interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal $ 1,000 Interest rate 8% Date borrowed March 08 Date repaid June 09 Exact time Interest Maturity value
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On Aug. 15, Sheffield Company discounted at Sunshine Bank a $9,000 (maturity value), 122-day note dated May 10. Sunshine's discount rate was 8%. (Use Days in a year table.) What proceeds did Sheffield Company receive? (Use 360 days a year. Do not round intermediate calculations.) Proceeds received