Is the following account correctly prepared? If not, prepare it correctly: To Interest (Interest received) 700 By Balance b/d (Cash in hand) 2,200 To Walter (For cash purchases) 1,000 By Commission (Commission received) 600 To Sales (For the old furniture) 1,200 By Chadwick Roose (For goods purchased on credit) To Balance 500 600 3,400 3,400 %24

Is the following account correctly prepared? If not, prepare it correctly: To Interest (Interest received) 700 By Balance b/d (Cash in hand) 2,200 To Walter (For cash purchases) 1,000 By Commission (Commission received) 600 To Sales (For the old furniture) 1,200 By Chadwick Roose (For goods purchased on credit) To Balance 500 600 3,400 3,400 %24

Name: Is the following account correctly prepared? If not, prepare it corre
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Description: Is the following account correctly prepared? If not, prepare it correctly:To Interest (Interest received)700By Balance b/d (Cash in hand)2,200To Walter (For cash purchases)1,000By Commission (Commission received) 600To Sales (For the old furniture)1

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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Jan 1: 711 sold Beverage products to a customer for $200 cash. The cost of the bevarage products is $75. What is the correct Journal Entry to record the Revenue? A. Debit Cash 200, Credit Sale Revenue 200 B. Debit Cost of Goods Sold 200, Credit Inventory 200 C. Debit Account Receivable 200, Credit Sale Revenue 200 D. Debit Cost of Goods Sold 75, Credit Inventory 75
Make a ledger account with this journal entry.
I don’t really know how to ask the question I’m really confused by this the subject is financial math
Ashvinbhai
Prepare ram account from the following transaction
1. Using EXCEL => Set up "T – Accounts" for each account listed in the Campln Inc. Post-Closing Trial Balance. "T-Account" example for several accounts. Assets Cash Accounts Receivable Inventory Beg $ 750,000 Beg $ 450,000 Beg $ 1,200,000 The following Post-Closing Trial Balance is available in EXCEL. Campln Inc. Post Closing Trial Balance 12/31/2020 Debit Credit Cash 750,000 Accounts Receivable 450,000 Allowance for Doubtful Accounts $ 10,000 Prepaid Insurance 100,000 Inventory 1,200,000 Equipment 4,500,000 Accumulated Depreciation - Equipment 1,350,000 Building 850,000 Accumulated Depreciation - Building $4 250,000 Land 1,100,000 Accounts Payable Salaries Payable 375,000 50,000 1,400,000 2,250,000 6,000 Mortgage Payable $ Long-Term Debt Common Stock - Par $0.01 APIC $ 2,994,000 Retained Earnings $ 265,000 8,950,000 8,950,000 $4
Mr. Zubair sold Merchandise inventory worth OMR 50,000 for cash. Which books of prime entry will record the transaction? a. Purchase journal b. Cash disbursement journal c. Cash receipt journal d. Sales journal
2. Which of the following on a Balance Sheet would cause concern for you? Use the sample Balance Sheet provided Notes & Comments Current Assets 10350 Bank Chequing $75,992 10857 Visa Credit Card -$226 12000 Accounts Receivable $21,296 13500 Inventory Assets $27,791 14990 Hold Backs -$275 Total Current Assets $124,578 Liabilities & Equity 20000 Accounts Payable $22,063 22100 Unapplied Cash $8,716 29300 Shareholder Loan $24,410 35600 Retained Earnings $52,416 Net Icome (Current Year) $16,873 Total Liabilities & Equity $124,478
B Moore's Trial Balance as at 30 September 2021 Particulars DR £ CR £ Cash at Bank £45000 Cash in Hand £6800 Accounts receivable(Debtors) £8000 Accounts Payable( Creditors) £14500 Inventory 30 September 2020 £18000 Car £25000 Drawings £7500 Fixtures and Fittings £18500 Sales £95000 Purchases £110000 Return Inwards (Sales returns) £3500 Carriage inwards £890 Return Outwards ( Purchase returns) £720 Carriage outwards £500 Motor Expenses £1400 Rent £7000 Telephone charges £830 Wages and Salaries £14000 Insurance £1030 Office Expenses £800 Sundry Expenses £250 Capital £158780 £269 000 £269 000 Inventory as at 30 September 2021 is £13 000 Required: a) Prepare an Income Statement for B Moore for the year ending 30th September 2021 b) The following table shows the profit/loss for B Moore profitable since year 2013 Year 2013 2014 2015 2016 2017 2018 2019 2020 Profit/Loss £55800…
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wner contributed computer costing RO. 9000, inventory worth OR 8000 and in cash OR 32000 . What is his Capital ? Select one: a. OR 49000 b. OR 8000 c. OR 32000 d. OR 39000 Rent revenue received OMR 3500 by cheque . The correct entry--- Select one: a. CASH A/C DR RENT A/C CR b. BANK A/C DR RENT A/C CR c. RENT A/C DR CASH A/C CR d. RENT A/C DR BANK A/C CR If a business has purchased goods for OMR 50000 and 25%was on account . Find out value of account payable? Select one: a. OMR 12500 b. OMR 50000 c. OMR 37500 d. OMR 32500