Question 2:Premla, a sole trader needs your help to record the following daily transactionsfor the month of September:1 SeptemberAssets: Premises RM300,000, Van RM58,000, FurnituresRM45,000, Inventory RM32,000, Accounts receivable: T TwoRM14,000, KJ Venture RM16,000, Cash at bank RM55,540,Cash in hand RM9,200Liabilities: Accounts payable: Powermed RM21,510, BernardRM3,300Loan taken from RHB Bank Berhad of RM100,000, transferredto the bank account.3 SeptemberPaid rent for the month of September RM12,000 by cheque.Purchased goods on credit from Bernard of RM7,000.Sold goods to KJ Venture RM12,000 and cash sales ofRM5,000.Returned goods to Bernard RM1000.Premla take goods costing RM200 out of the business stockwithout paying for them.Paid RM500 in cash for postage stampsCash drawings RM500.Good bought on credit from: Powermed RM10,200, ManiRM3,000, Bernard RM660.Goods returned by KJ Venture RM200.Sold goods on credit to: Siva RM17,000, Syarikat TZ RM8,800.Return goods to Powermed RM1,500.Paid RM900 cash to Powermed, the balance fully settled bytransferred into bank the same day.KJ Venture settled his account by cheque less 5 percent cashdiscount.6 September7 September10 September11 September12 September14 September16 September17 September19 September21 September22 September25 September26 September27 SeptemberThe following settled by Premla by internet transfer less 5percent cash discount: Bernard.Paid wages in cash RM2,000Sidek is unable to pay his debt. We agree to take somedisplay cabinets from him at that value and cancel the debt.Received commission by cheque RM4,000.Took RM200 of the cash and paid it into the bank.28 September30 September31 September31 SeptemberRequired:Enter the above items in the relevant day books.

Answered: Image /qna-images/answer/f1079adb-c6bb-4363-8e61-a2df465f9e12.jpg

Answered: f September: Assets:Premise RM45,000,…

Business

Accounting

f September: Assets:Premise RM45,000, Inven RM14,000, KJ Ve Cash in hand RM

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

Balance Sheet for Bearcat Hathaway, 2022 2021 2022 Cash Accounts Receivable Inventory Current Assets Accum.Depreciation Net Fixed Assets Gross Fixed Assets $16,251,665 $20,567,330 Less $7,460,897 $10,117,819 Total Assets O 11.58% O 44.90% O 8.37% $5,268,485 $10,268,485 O 4.35% $2,574,230 $2,314,672 O 6.02% $529,062 $696,685 $8,371,777 $13,279,842 Total Liabilities and Equity What is the common size value for 2022 Notes Payable? $8,790,768 $10,449,511 $17,162,545 $23,729,353 Current Liabilities 2021 Accounts Payable Notes Payable $1,033,110 $1,987,233 2022 $1,673,992 $2,438,271 $2,707,102 $4,425,504 Long Term Debt $9,242,830 $11,468,302 Total Liabilities $11,949,932 $15,893,806 Common Stock ($0.50 par) $1,300,000 $1,600,000 Capital Surplus $1,148,120 $1,800,969 Retained $2,764,493 $4,434,578 Earnings $17,162,545 $23,729,353
Instructions: Prepare a statement of cash flows for the year ended December 31, Problem 2 SATT KEXLER COMPANY efhiogitarorT 13,000 Comparative Balance Sheet 18,000 iosgu14,000ot 9,000 ba Dec. 2021 fon ai Dec. 2020 armald Assets etnlog-30 $28,000 Cash Accounts receivable Prepaid expenses Inventory Long-term investments Equipment Accumulated depreciation-equipment Total assets tye 25,000ntne 15,000 rot Inova oreahtnolen0-t 18,000 ol 30,000 (14,000) baimenydr no 7:000 60,000 (18,000) $85,000 50S ynune120,000 Liabilities and Stockholders' Equity $ 25,000 37,000 40,000 18,000 $120,000 1. Net income for the year ending December 31, 2021, was $25.000. 2. Cash dividends of $17,000 were declared and paid during the year. Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 7,000 45,000 23,000 10,000 o lsu $85,000 Additional information: Long-term investments that had a book value of $18,000 were sold for $18.000. 4. There is no sale of…
Loans and borrowings Deferred taxek liability 14,130 10,220- 1,010 960- 15,140 11,180 Current Liabilities Trade payable Current tax 1,260 1,140 1,040 920 payable Interest payable 980- 740k 3,280 40,190 2,800 32,960 Total Equity and Liabilities 2019 £'000 2018 £'000 Sales Cost of sales Distribution costse Administration expenses Gain on disposal of PPE 22,000 (11,800) (3,100) (1,630) 280 16,000 (8,200) (2,600) (1,420) Interest expensee a Тах еexpensee (1,140) (1,820) (760) (1,240) Net profit 2,790 1,780 1. The company disposal of PPE during the year with a book value of £1,000,000. 2. Depreciation of property, plant and equipment for the year was £650,000.4 The intangibles were acquired for cash towards the end of the year and were not sub ject to any amortisation in the current period.e 3. Prepare the statement of cash flows using the indirect method.
Statement of Cash Flow Preparation Activity Consider the following journal entries: Entry (a) cash $4 %$4 81,000.00 common stock 81,000.00 (b) treasury stock 13,000.00 cash 13,000.00 (c) cash 60,000.00 sales revenue 60,000.00 (d) land 87,700.00 cash 87,700.00 (e) depreciation expense 9,000.00 accumulated depreciation 9,000.00 (f) dividends payable 16,500.00 cash 16,500.00 (g) land 18,000.00 cash 18,000.00 (h) cash 7,200.00 7,200.00 equipment (1) bonds payable cash 45,000.00 45,000.00 (1) building 164,000.00 164,000.00 note payable, long-term (k) loss on disposal of equipment | 1,400.00 equipment, net 1,400.00 Indicate whether each transaction would result in an operating activity, an investing activity, or a financing activity for an indirect method statement of cash flow and the accompanying schedule of non-cash investing and financing activities. Click here to enter text. %24
Accounting Suppose that a company's cash flow statement showed the following: o Net Income: $19,917.48 o Depreciation: $3,109.46 o Accounts receivable: $-996.63 o Inventory: $489.61 o Accounts payable: $984.18 What is this company's net cash from operating activities? $22,519.92 $23,014.49 $23,516.55 $20,394.64 $23,504.10
Qq.59. Subject :- Account A coporation reported cash of $15,600 and total assets of 179,900 on its balance sheet. Its commen size percent for cash equals
bs accountancy
Anjelina wants to purchase an annuity that will pay her the $2,000 she needs at the end of every six months to support her shoe collection. If she plans to do this for the next 4 years and if money is currently worth 3.2% compounded semi-annually, what would her initial investment have to be? Refer to the "?"s in the table and considering inflows and outflows of cash, enter the appropriate values in the blanks below. Round dollar answers to 2 decimal places. Mode ? Mode = N = PV = PMT= FV= Previous Page N ? I/Y 3.2 A N A Next Page P CY 2 PV ? PMT ? PY 2 FV ?
if the beginning cash balance is $5,000, the net cash inflow from operating activities is $20,000, net cash outflow from investing activities is $ (15,000) and net inflows from financing activities is $25,000. the cash balance at the end of the year is O a. $65,000 O b. $30,000 O c. $60,000 O d. $ 35,000
Calculate the amount of Cash if Asset is OMR 10000 Liabilities is OMR 6000 and Capital is OMR 9000 Select one: a. OMR 5000 O b. OMR 10000 O c. OMR 9000 O d. OMR 6000
selected intoomation The Following is Foom Meney Company's Cooperative balance Sheets At decombeo 31 2020 Rs.155,000 2019 es 260,000 fuaniture Accumulate d depseceation (74,400) 421y 400) The income state ment Yeports deptecti expense For the yegsnituse costng Jusniture costing seld Fos its the 170om the sale of Rs 36 000 Rs 105,000 book cash of Also was Value, furniture. Yee cuied Conpute
Goods sent on consignment R760 000. Opening consignment stock R48 000. Cash sales R700 000. Consignor’s expenses R20 000. Consignee’s expenses R12 000. Commission R20 000. Closing consignment stock R300 000. The profit on consignment is________. Select one: a. R150 000 b. R140 000 c. R92 000 d. R456 000