Activity 2: Reading an account statementJet StoresEdgars Stores-CBS storesMs DT BearsCredit avallable:222 Straight StrR1 550,35Hababa City1313Date:02/06/2011Account number:3472411756StatementInstalmente-mail addressR280.00debt@JetstoresDateRef. no.DetailsAmountBalanceTotal Due R280.0022/05/11Opening balance3 450.15Due Date07/06/2011Cash payment280.003 170.15Credit limit22/05/11Thank you!R5 600.50Enquiries086023145312 months plan55.503 225.6523/05/11Purchase Jet MenlynOffice Hours8:00 -18:00Purchase Jet Menlyn120.153 345.80Purchase Jet Menlyn500.00(a)Closing balance(b)Study the account statement above and answer the following quest.ons.(1)1. What is Daisy's opening balance?2. How much is her credit limit?3. Why is there a due date on the statement?4. Calculate the value of the goods she purchased this month.5. Calculate the values (a) and (b).6. The company charges 33% per annum on late payments. Howmuch will Daisy owe if she does not pay the R280,00 installmentuntil 07/07/2011?7. The closing balance includes VAT. Calculate the original total,excluding VAT.8. Why is the "Credit Available" amount not the same as the"Credit Limit"?(1)(2)(2)(2)(6)(2)(2)[18)1.

Account statement is the statement or the document which shows all the transactions that occurred…

Answered: Jet Stores Edgars Stores CBS stores Is…

Jet Stores Edgars Stores CBS stores Is DT Bears Credit avallable: 22 Stralght Str R1 550,35 lababa City 313 Date: 02/06/2011 Account number: 3472411756 Statement Instalment R280.00

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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What’s the weather form open the following accounts using the picture below.
Make T accounts using EXCEL for the following journal entries
Ihe accourtsfor the statement of fihancial postionandincame statemert a Altredo Escarno, CPAare a tollows: Alteda Ie, CRA Adjunn TrialEe nce Decem ber31, 20X Cad it N1,500 Accnun Debit Accounts hyable Accounts Beoeivable Accu nauilatel Depredsion - Bualing Acu naulated Deprednion -Ofice Eqrip ment Autiing Laenua Bul ding Cath Dereivtion Expas e-Baling Doreciation Ispase-Otice Eqip mat Isano, Capital, Isano, Wahdrawals n1,000 110,00 120,000 1,361,500 750,000 11 S00 55,000 60,000 1,215,500 165,000 75,000 60,000 362,500 96,000 26,000 6,500 52,500 735,000 Ind Mots Becdusble Oftice Equap nent Oftice Supplie Expense Office Supplis Profeiond Deudep mat Ixpense Rent Expense Salades Ixpense Salades Pyable Trud Expense Uhlitis Expense TOTAL 30,500 41,000 18,000 P2 PO1000 RB0 1000 Required: Bepae in goodfom te icome statement andthe statenet f firndalpostion f Altredo Escano, CPAfrte year ended Deombe 31 201X
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tle=pccertified-professional-in-financial-accounting 5e33e716ef363&c=9&p=1 O New Tab 6 Currency Conversion O Silberline Intranet S.. @ https://www.comm... A SAP Health Declara. I Silberline Home ( Previous al Question 1/50 O 117 min 15 secs 2% 89% Done In October 2015 Utland sold some goods on sale or return terms for $2,500. Their cost to Utland was $1,500. The transaction has been treated as a credit sale in Utland's financial statements for the year ended 31 October 2015. In November 2015 the customer accepted half of the goods and returned the other half in good condition. What adjustments, if any, should be made to the financial statements? A. Sales and receivables should be reduced by $2,500, with no adjustment to closing inventory B. ) Sales and receivables should be reduced by $2,500, and closing inventory increased by $1,500. C. Sales and receivables should be reduced by $1,250, and closing inventory increased by $750 D. No adjustment is necessary Next O Mark For Review @…
MUMassD Logor X E Quicklaunch - x K. myCourses Da: X Se Univ of Mass - X Ceng g In | Federa x ducation.com Saved mework View transaction list Journal entry worksheet 1 3 4 8 9 10 Provided $57,971 in service to customers during the year, with $21,658 on account and the rest received in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 0 日 search