mancosaconnect.ac.za/mod/ANCOSAnancial Reporting and Analysis Jan22 Y1 S2Identify the most relevant transaction for this entry:Assets+12 000Previous pageO A. Paid R12 000 cash for rent.O B. Received R12 000 cash for rent.O C. Received R12 000 cash from debtors.O D. Paid R12 000 for insurance.O HIOwners' Equity+12 000** AO XIILiabilities

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Description: mancosaconnect.ac.za/mod/ANCOSAnancial Reporting and Analysis Jan22 Y1 S2Identify the most relevant transaction for this entry:Assets+12 000Previous pageO A. Paid R12 000 cash for rent.O B. Received R12 000 cash for rent.O C. Received R12 000 cash f

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Identify the most relevant transaction for this entry: Assets +12 000 Owners' Equity +12 000 O A. Paid R12 000 cash for rent. O B. Received R12 000 cash for rent. O C. Received R12 000 cash from debtors. O D. Paid R12 000 for insurance. 0 Liabilities

Identify the most relevant transaction for this entry: Assets +12 000 Owners' Equity +12 000 O A. Paid R12 000 cash for rent. O B. Received R12 000 cash for rent. O C. Received R12 000 cash from debtors. O D. Paid R12 000 for insurance. 0 Liabilities

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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4. Classify each of the following as a current asset, a fixed asset, a current liability, or a long-term liability: (a) Accounts Receivable (b) Land (c) Bank Loan (6 months) (d) Office Supplies (e) Delivery Truck (f) Prepaid Rent (8) Automobile (h) Mortgage Payable (i) Taxes Owing (i) Government Bonds (k) Accounts Payable (1
Multiple choice: 1. To be repaid less than 1 year A. Unsecured loans B. Debt capital C. Intermediate loans D. Short term loans 2. Money obtained from income of the business is one basic source of capital A. Secured loans B. Machinery C. Internal funds D. Equity
А. Calculate the value for the missing items below: ASSET EXPENSES LIABILITIES CAPITAL REVENUES RM RM RM RM RM (i) 67,500 85,700 50,500 53,700 (ii) ? 7,000 8,000 21,000 70,000 (iii) 112,000 85,000 |171,000 25,800 (iv) 7,900 ? 3,200 2,750 4,200 (v) 32,500 6,600 7,200 5,700 For each of the following transactions, you are required to: Show the effect of the transactions on assets, owner's equity, liabilities, revenues and expenses. State the journal entries using the format given below. В. a) b)
The following is list of accounts each represented by letter(s). A Accounts Payable U Loss from discontinued operations B Accounts Receivable V Losses due to fire E Accumulated Depreciation-Equip W Merchandise Inventory F Bonds Payable X Notes Payable G Cash Y Premium on Bonds Payable H Cost of Goods Sold Z Rent Expense I Capital Lease Payable AA Rent Revenue J Discount on Bonds Payable BB Retained Earnings K Equipment EE Salaries and Wages Payable L Federal Income Tax Withheld Payable FF Sales Returns M Federal Unemployment Taxes Payable GG Sales Revenues N FICA Taxes Payable HH Sales Taxes Payable O Income Summary II Shipping Expense P Income Taxes Payable JJ State Income Tax Withheld Payable Q Interest Expense KK State Unemployment Taxes Payable R Interest Payable LL Supplies S Land MM Tax Expense T Land Improvement NN Unearned Rent Revenue Example of Answer: G4000D,B2000D,GG5000C,HH1000CWhere G denotes…
Journal: Cash (Asset) + Customer Receivables (Asset) + Sales (Revenue) = $500 Supplies (Asset) + Accounts Payable (Liability) = $200 Wages Expense (Expense) + Wages Payable (Liability) = $1,000 Rent Expense (Expense) + Cash (Asset) = $1,500 Cash (Asset) + Utility Expense (Expense) = $500 Customer Receivables (Asset) + Sales (Revenue) = $800 Cash (Asset) + Customer Receivables (Asset) = $800 Accounts Payable (Liability) + Cash (Asset) = $200 Depreciation Expense (Expense) + Depreciation (Contra Asset) = $500 Cash (Asset) + Gain on Sale of Asset (Income) = $1,500 can anyone help me to prepare the t-account and balance sheet ?
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The following is list of accounts each represented by letter(s). A Accounts Payable U Loss from discontinued operations B Accounts Receivable V Losses due to fire E Accumulated Depreciation-Equip W Merchandise Inventory F Bonds Payable X Notes Payable G Cash Y Premium on Bonds Payable H Cost of Goods Sold Z Rent Expense I Capital Lease Payable AA Rent Revenue J Discount on Bonds Payable BB Retained Earnings K Equipment EE Salaries and Wages Payable L Federal Income Tax Withheld Payable FF Sales Returns M Federal Unemployment Taxes Payable GG Sales Revenues N FICA Taxes Payable HH Sales Taxes Payable O Income Summary II Shipping Expense P Income Taxes Payable JJ State Income Tax Withheld Payable Q Interest Expense KK State Unemployment Taxes Payable R Interest Payable LL Supplies S Land MM Tax Expense T Land Improvement NN Unearned Rent Revenue Example of Answer: G4000D,B2000D,GG5000C,HH1000CWhere G denotes…
K If the owner's equity is $135,000 and total liabilities are $90,000, then total assets would be OA. $90,000 OB. $225,000 OC. $45,000 OD. $135,000
Question 6?
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Q-7
Which is not usually presented as part of current assets? A. Three-month time depositB. Dividend receivableC. Advances to affiliatesD. Prepaid subscription expenses