1 Larissa runs a consultancy agency. The following trial balance was extracted from the booksof Larissa business on 31 March 2022.Delivery vanOffice equipmentCash at bankCash in handTrade receivablesBank loanTrade payablesFee incomeCommission incomeRental incomePrinting and stationeryInsuranceWages and salariesRepairs expenseUtilitiesDiscountDrawingsCapital, 1 April 20214$127 2005 9505 8002 50019 50061 20025 00053 9003 9003 7801 800200250 730$100 0008 40096 8003 2002 400Additional information at 31 March 20221 Wages and salaries paid was for 14 months up to 31 May 2022.2Repairs expense of $200 was still owing.3 Rental income of $600 was received on 1 January 2022. The sum was for the period1 January to 31 March 2022.Monthly commission income was $350.5An invoice of $500 for consultancy service was issued. This was not recorded in the books.39 930250 730Larissa withdrew $6 000 from the business bank account for personal use. This was notrecorded in the books.REQUIRED(a) Prepare the statement of financial performance for the year ended 31 March 2022(b) Prepare the statement of financial position as at 31 March 2022.

Financial Information - Anything pertaining to a business's financial operations and performance is…

Answered: Larissa runs a consultancy agency. The…

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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Enter the following transactions in the records of TRUST GOD Enterprise, balance the various accounts and extract a trial balance for the month of June 2018. June 1 stated business with GH¢55,000 of the bank June 2 Bought goods on credit from Blessing GH¢1,200 June 3 Bought goods GH¢ 700 from John paying by cheque June 4 Return goods to Blessing GH¢500 June 7 Sold good for cash GH¢3,000 June 8 Bought furniture by cheque GH¢1,750 June 9 Banked cash GH¢1,500 June 12 Sold goods on credit to Deede GH¢480 June 14 Received loan GH¢2,300 from Andra June 15 Deede returned goods GH¢210 June 18 Paid rent GH¢750 by cash June 20 Received discount of GH¢60 by cash June 24 Withdrew GH¢ 800 from the bank for personal use June 30 Received electricity bill GH¢230 from E. C. G but not settle
H
hh. Subject:- Accounting On December 31, the company purchases equipment for $10,000 and pays for the purchase in cash.Complete the necessary journal entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns.
The following transactions occurred during the month of October 2021. Date 1 2 3 4 5 6 7 9 11 12 13 14 16 20 28 30 Transactions Balance brought forward from last month: Cash RM 295; Bank RM 4,240. Cash sales RM310. Took RM 200 out of the cash register and paid it into the bank Farid paid us by cheque RM194. We paid for postage stamps in cash RM80. Bought office equipment by cheque RM310. We paid Roslan by cheque RM94. Received business refund by cheque RM115. Withdrew RM 150 from the bank for business use. Paid wages in cash RM400. Cash sales RM430. Paid motor expenses by cheque RM81. Jamal lent us RM1,500 in cash. Kamarul paid us by cheque RM174. We paid general expenses in cash RM35. Paid insurance by cheque RM320. Required: Prepare a two-columns cash book for the month of October 2021.
9. Ashley Martinez's checkbook balance was $149.21 on October 5. The checkbook register below shows her transactions since then. What is her balance after each transaction? Trans Type Date Description of Transaction or Check # 571 DEP 572 AT 10/6 Pettisvile Flowers 10/9 Deposit 10/10 Donald's Bookstore 10/19 Langley Phone Co. Payment / Debit ✔ Deposit / Credit (+) (-) Balance Brought Forward 45 79 16 94 75 25 213 80 Balance 149 21
Make a ledger account with this journal entry.
(a) Describe the detail of the transaction being performed in the following screen. (b) Give the journal entry that MYOB made as a result of the transaction in part (a) (Note: account numbers are not required, just use account names.)
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Record the following transactions for the month of December, 2021 for Dell’s Enterprise in their relevant Accounts, Balance off same and Extract a Trial Balance. Started business with $100,000 cash Put $90,000 of the cash into a bank account. Bought goods for $55,000 paying by cheque Bought Goods on credit from S. Henry $80,000; T. Brown $9,500; A. Marks 5,100 Bought stationery on credit from Bartley Ltd. $8,900 Sold goods on credit to S. Song $17,000; L. Fatt $24,000; M. Sing 32,600. Paid rent by cheque $22,000 10. Bought Fixtures on credit from Marks Furnishing $61,000 11. Paid salaries by cash $7,200 14. Returned goods to S. Henry $1,200 15. Bought van by cheque $106,500 16. Received loan into bank account from NST $75,000 18. Goods returned to us by S. Song $1,500; L. Fatt $2,500 21. Cash Sales $30,000 24. Owner took Cash of $5,500 for his personal use. 29. Received cheque from S, Song for full settlement of his accounting…

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Larissa runs a consultancy agency. The following trial balance was extracted from of Larissa business on 31 March 2022. Delivery van Office equipment Cash at bank Cash in hand Trade receivables Bank loan Trade payables Fee income 127 200 5 950 5 800 2 500 19 500