NO.:DATE:6- ACCOUNT MAMEDATEACCOUNT PAYABLEACCOUNT TITLE ANDEXPLANAHONDEBITCREDITJR-THE BUSINESS ACQUIRED DEFICE FQUIPMTENT ANDFURMITHIRE WORT H P25,000 AND P 45,000 RESPECTIVELYPAID PI5I000 CASA AND ISSUED A MOTE PAYABLE FOR THEBALAMCE-PAGE 2GEMERAL JOURNALACCOUMT TITLE ANDEXPLANATIONCREDITDATE2018DEC12.PR DEBITOFFICE EQUIPMENT lo6P 25i000FURNITURE ANDFIXTURS 107CASHNOTES PAYABLE45,000101202P 15,0055,000ACCOUNT NO.ACCOUNT HAMEACCOUNT ANDEx PLANATIONJ.RI DEBITBATECREDIT

5) Journal Entry : Page : 2 Date Account Title PR Debit Credit Dec 12,2018 Equipment 106…

EXPLANAHON JR DEBIT CREDIT - THE BUSINESS ACQUIRED DEFICE FQUIPMTENT AND FURMITHIRE WORTH P251000 AND P 45, 000 RESPECTIVELY PAID PI5I0D CASH AND ISSUEDANOTE PAYABLE FOR THE BALAMCE- PAGE 2 GEMERAL FOUENAL ACCOUMT TITLE AND EXPLANATION CREDIT DATE 2018 DEC12. PR DEBIT lo6 P 25i o00 245,000 OFFICE EQU|PMFNT FURNITURE AND FIXTURS 107 CASH NOTES PAYABLE 101 202 P 15,00 55,000 ACCOMNT NO ACCOUNT HAME ACCOUNT AND Ex PLANATION J.RI PFBIT DATE CREDIT

EXPLANAHON JR DEBIT CREDIT - THE BUSINESS ACQUIRED DEFICE FQUIPMTENT AND FURMITHIRE WORTH P251000 AND P 45, 000 RESPECTIVELY PAID PI5I0D CASH AND ISSUEDANOTE PAYABLE FOR THE BALAMCE- PAGE 2 GEMERAL FOUENAL ACCOUMT TITLE AND EXPLANATION CREDIT DATE 2018 DEC12. PR DEBIT lo6 P 25i o00 245,000 OFFICE EQU|PMFNT FURNITURE AND FIXTURS 107 CASH NOTES PAYABLE 101 202 P 15,00 55,000 ACCOMNT NO ACCOUNT HAME ACCOUNT AND Ex PLANATION J.RI PFBIT DATE CREDIT

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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Make T accounts using EXCEL for the following journal entries
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Business registered as 15% vat. They use perpetual inventory systems and all goods mark up at 20% above cost, before taking into account any trade discount. Prepare a cashbook payment and cashbook receipts Owner contributed R5 000 cash Cash sales R13 800 including vat Cash purchases R8 000 excluding vat Paid telkom for telephone account R345 Paid R2 000 towards a loan settlement with mzansi bank Cash sales R5 750 including vat Cash purchases R4 600 including vat Paid wages R800
Tess3false Merchandise is sold for cash. The selling price of the merchandise is $2,000 and the sale is subject to a 7% state sales tax. The journal entry to record the sale would include a credit to Oa. Sales for $1,860 Ob. Cash for $2,000 O c. Sales Tax Payable for $140 Od. Sales for $2,140 Previous Submit Test f Email Instructor All work saved. 64°F ^ E I 99+
What is the net income?
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it View History M faith@.. tems 37.66% ··· Bookmarks Window AOL Ma.... B E C eBook U Sales Mail - F... Cost of goods sold Help Operating income Expenses: Selling expenses Administrative expenses The following multiple-step, income statement was prepared for Carlsbad Company contains errors: CARLSBAD COMPANY Income Statement For the Year Ended February 28, 2018 Delivery expense Total expenses Other expense: Interest revenue Gross profit R V Portal h... Check My Work 10 more Check My Work uses remaining. % G Chapter... B v2.cengagenow.com Prepare a corrected income statement for Carlsbad Company for the year ended February 28, 2018. Carlsbad Company Income Statement 6 $ 1,800,000 1,350,000 112,500 H C Cengag.. 9,495,000 (5,962,500) $3,532,500 (3,262,500) 270,000 90,000 $180,000 All work saved. N MacBook Pro ** W Activity... 8 M FA 9 K Save and Exit Submit Assignment for Grading 1
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Practice chpt 5 - Co X A ezto.mheducation.com/ext/map/index.html?_con=con&external browser=D0&launchUrl=https%253A%252F%252Fdcccd.blackboar ce chpt 5 A Saved At the end of 2021, Worthy Co's balance for Accounts Receivable is $24,000, while the company's total assets equal $1,540,000. In addition, the company expects to collect all of its receivables in 2022. In 2022, however, one customer owing $4,000 becomes a bad debt on March 14. Record the write off of this customer's account in 2022 using the direct write-off method. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Rook View transaction list Journal entry worksheet Print erences Record the write off of this customer's account in 2022 using the direct write off method. Note: Enter debits before credits. Date General Journal Debit Credit March 14, 2022 Record entry Clear entry View general journal raw Type here to search Ps DII PrtScn Hom F3 F7 F8 近