Ment Ineme alaries POsted as such The amount went to the comect side, but the wrong account. annery Telepteme raing stock yeincles Wages Activity 3.13 Prepare a Trial lalance Use the information below to prepare a Tial Balance for Lucky's Pruit and Veg stall as at 28 February 20 5. 930 Capital Drawings Equipment Trading stock 25 600 4 000 12 000 6 000 1 290 Cost of sales Consumable stores 1 240 Stationery 640 Activity 3.15 Expla Loss on unsold stock 230 Bank Rent income 500 Tnk at the erron made bela Balance. Stationery puichased we RI 000 was posted twic An entry of R910 was p The Trading stock colu and not R2 165. Equipment bought for of R2 344 Loan from bank 2 000 Interest on loan 200 Float 450 Licence 100 Sales 12 980 Wages 5 000 (18) 58

Ment Ineme alaries POsted as such The amount went to the comect side, but the wrong account. annery Telepteme raing stock yeincles Wages Activity 3.13 Prepare a Trial lalance Use the information below to prepare a Tial Balance for Lucky's Pruit and Veg stall as at 28 February 20 5. 930 Capital Drawings Equipment Trading stock 25 600 4 000 12 000 6 000 1 290 Cost of sales Consumable stores 1 240 Stationery 640 Activity 3.15 Expla Loss on unsold stock 230 Bank Rent income 500 Tnk at the erron made bela Balance. Stationery puichased we RI 000 was posted twic An entry of R910 was p The Trading stock colu and not R2 165. Equipment bought for of R2 344 Loan from bank 2 000 Interest on loan 200 Float 450 Licence 100 Sales 12 980 Wages 5 000 (18) 58

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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June 1 Cash 2,500 Common Shares 2,500 4 Supplies 250 Accounts Payable 250 7 Accounts Receivable 300 Service Revenue 300 18 Cash 200 Accounts Receivable 200 25 No Entry 0 No Entry 0 27 Cash 200 Deferred Revenue 200 28 Accounts Payable 250 Cash 250 29 Income Tax Expense 100 Cash 100 Using T accounts, post the above journal entries recorded for Ing Ltd. to the general ledger, and determine the ending balances in each account. (Post entries in the order presented in the problem.)
J Wright, a sole trader, extracted the following trial balance from his books at the closeof business on 31 March 20X9:Dr Cr£ £Purchases and sales 61,420 127,245Stock 1 April 20X8 7,940Capital 1 April 20X8 25,200Bank overdraft 2,490Cash 140Discounts 2,480 62Returns inwards 3,486Returns outwards 1,356Carriage outwards 3,210Rent and insurance 8,870Provision for doubtful debts 630Fixtures and fittings 1,900Van 5,600Debtors and creditors 12,418 11,400Drawings 21,400Wages and salaries 39,200General office expenses 319168,383 168,383Notes:(a) Stock 31 March 20X9 £6,805.(b) Wages and salaries accrued at 31 March 20X9 £3,500; Office expenses owing £16.(c) Rent prepaid 31 March 20X9 £600.(d) Increase the provision for doubtful debts by £110 to £740.(e) Provide for depreciation as follows: Fixtures and fittings £190; Van £1,400. Required:Prepare the trading and profit and loss accounts for the year ended 31 March 20X9 together with abalance sheet as at that date
Q9 From the following trial balance of Lim Trading, draw up an Income Statement for the year ended 31 December 2018 and a balance sheet as at that date. Inventory (1.1.2018) Carriage outwards Carriage inwards Returns inwards Returns outwards Purchases Sales Salaries and wages Rent Insurance Motor expenses Office expenses Lighting and heating expenses General expenses Premises Motor vehicles Fixture and fittings Trade receivables Trade payables Cash at bank Drawings Capital Inventory Debit (RM) 2,368 200 310 205 11,874 3,862 304 78 664 216 166 314 5,000 1,800 350 3,896 Docombor 2018 was $2 916 482 1,200 33,289 Dredit (RM 322 18,600 1,731 12,636 33,289
Courses =HCS380 Week 1 Terminology Matching Accounts Receivable Terminology Matching Note Payable Bonds Payable Common Stock Income Statement Balance Sheet Retained Earnings Statement Statement of Cash Flow Basic Accounting Equation multimedia.phoenix.edu Annual Report View Assessment HCS/380: Week 1 - Terminology Matching - Academic Resources Owed to a bank for the money borrowed Bill customer/patient for services HCS Debt securities sold to investors that must be repaid at a particular date in the future A AOL PASSV REQUIRED Enter your password for "kaylakı Accounts. Prepared by corporate management to present financial information, management discussion, notes, and auditor's report Used by creditors to determine if they will be paid Assets Liabilities+Stockholder's Equity Used by creditors and investors to analyze the organization's cash position Used by investors to evaluate the organization's history of paying high dividends The total amount paid in by stockholders for the share…
education.wiley.com Ch 1: Ho... WP NWP AS... С Maria Q.. b Search.. The Acc... Cengag... financia... WileyPL... financia... BB Financi.. Accoun... X - Cha... e Ch 1: Homework Question 4 of 5 - / 20 View Policies Current Attempt in Progress Van Occupanther is the bookkeeper for Roscoe Company. Van has been trying to get the balance sheet of Roscoe Company to balance. Roscoe's balance sheet is as follows. ROSCOE COMPANY Balance Sheet December 31, 2022 Assets Liabilities Cash $ 9,400 Accounts payable $25,000 Supplies 7,100 Accounts receivable (19,500) Equipment 45,000 Common stock 40,000 Dividends 9,200 Retained earnings 25,200 Total assets $70,700 Total liabilities and stockholders' equity $70,700 Prepare a correct balance sheet. (List Assets in order of liquidity.) ROSCOE COMPANY Balance Sheet 田 II
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Make into T accounts Date Account A/c Debit Account A/c Credit Comments 1-Jul Cash $60,000 Common stock $60,000 Deposit for shares 3-Jul Rent expense $3,500 Cash $3,500 Rent paid 5-Jul Prepaid insurance $4,200 Cash $4,200 Insurance paid 7-Jul Supplies $1,000 Accounts payable $1,000 Supplies purchased 10-Jul Salaries expense $3,500 Cash $3,500 Salaries paid 14-Jul Equipment $10,000 Cash & A/c payable $10,000 Equipment purchased 15-Jul Cash $8,000 Tax preparation revenue $8,000 Tax preparation income received 19-Jul Accounts payable $500 Cash $500 A/c payable paid 31-Jul Cash $9,000 Tax preparation revenue $9,000 Tax preparation income received 31-Jul Dividends $600 Cash $600 Dividends paid
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Quiz - Complete the following (If more than one discount, assume date of last discount): (Use Table 7.1) Date goods are received Last day of discount period Final day bill is due (end of credit period) @ 2 Invoice S April 10 W X 3 E D C $ 4 Terms 2/10, 1/30, n/60 R F G Search or type URL V do 5 % T 6 B Saved 7 of 9 Y H & 7 U N Next > 8 J 1 - ( 9 M ( K O L B P