Mohan Trading Trial Balance as at 31 Dec Debit Credit RM RM 21,950 20,000 60,000 26,000 18,000 Inventories @ 1 Jan Office equipment Motor vehicles Trade receivables Bank 18,500 Trade payables Drawings 14,000 50,000 475,000 Loan Sales 400,000 5,600 Purchases Carriage outward Discount received 3,800 Discount allowed
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- OkyOTcw/a/MjUwNDEyNDM20TEx/details Particulars Credit (RM) 48,400 Debit (RM) Capital Drawings Trade receivables Trade payables Sales Purchases Sales returns Purchases retums Wages and salaries Discounts allowed Discounts received Provision for doubtful debts Insurance Inventory as at 1 September 2018 Utilities 3,500 9,000 12,500 40,400 31,000 300 250 5,600 120 200 300 700 2,400 950 350 10,000 3,000 20,000 Rates Premises Fixtures and fittings Motor van Cash in hand Cash at bank TOTAL 330 14,800 102.050 102.050 Additional information as at 31 August 2019: i. Inventory as at 31 August 2019 amounted RM3,300 ii. An entity from whom there is accounts receivables of RM200 was unable to settle his debt and this amount is to be written off as bad debts. iii. The provision for doubtful debts is 1% of the outstanding trade receivables. iv. The owner took RM100 worth of goods from the business for his own use Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year…ADBRI Limited (ABC, formerly Adelaide Brighton Limited) is an integrated construction material and lime producing group of companies focused on the construction, engineering, infrastructure and resource sectors in Australia. ABC has three main operating divisions being: Cement, Lime, Concrete and Aggregates and Concrete Masonry Products. Acrow (ACF, formerly NMG Corporation Limited) operates in the Australian construction services industry, hiring formwork, falsework and scaffolding equipment and undertaking sales of formwork and scaffolding related consumables. The Formwork operation involves the supply of the temporary mould that supports concrete structures in their construction. The Scaffolding operation supplies scaffolding equipment and access solutions to builders and building contractors when working at heights. Below are extracts of ACF and ABC Limited's income statements and balance sheets for 2020. Item ACF ABC Limited Income Statement Income Statement Operating Revenue…26.The following data were available for ABC Trading, which uses perpetual system, at Dec 31, 20X2:Accounts Payable, beg P10,000Accounts Payable, end P8,000Inventory, beg P17,000Inventory, end P9,000Payment to creditors 287,000Purchase returns, P15,000How much was the cost of goods sold during the period? 285,000 293,000 300,000 315,000
- Lucky House Ltd Trial Balance As at 30 September 2020 Account Debit(£) Credit(£)Cash at Bank 5,850Capital Account 15,000Machine 8,100Raw Materials 2,655Stationery 250Accounts Payable 6,545Rent 950Business Insurance 38Prepayments 1,362Sales Income 17,550Cost of Goods Sold 11,345Accounts Receivable 4,500Drawings 4,000Telephone 45Depreciation 135Accumulated Depreciation 135 Total 39,230 39,230 Prepare a Statement of Profit & Loss and Statement of…Lucky House Ltd Trial Balance As at 30 September 2020 Account Debit(£) Credit(£)Cash at Bank 5,850Capital Account 15,000Machine 8,100Raw Materials 2,655Stationery 250Accounts Payable 6,545Rent 950Business Insurance 38Prepayments 1,362Sales Income 17,550Cost of Goods Sold 11,345Accounts Receivable 4,500Drawings 4,000Telephone 45Depreciation 135Accumulated Depreciation 135 Total 39,230 39,230 Prepare a statement of cash flow ?ABC TradersTrial Balance at 31 December 20.1 Dr. Cr.Purchases/Sales 843,800 1,394,200 Return in and Out 22,200 33,300Discounts Allowed and Received 4,400 5,500Debtors and Creditors 66,000 77,000Drawing and Capital 136,700 410,000Stock 1 January 20.1 55,500 Carriage on Sales 21,000Carriage on Purchases 34,500Wages and Salaries…
- YE3tcuBfirwShOSzu2prZ7nd44k0L-w/formResponse?pli=1 e following to answer the five questions below: owing accounts are extracted from the worksheet of X Company on ber 31, 2020 Sales Retums and Allowances S 410,000 Sales Discount 140,000 Sales 1,500,000 Salaries Expenses - Sales 52,000 Rent Revenue 22,000 Purchases Retums and Allowances 120,000 Purchases 600,000 Loss from write down of Inventory 17,000 Inventory, January 1, 2020 460,000 Interest Expense A 55,000 Gain from Sale of Building 23,000 Freight-out 14,000 Freight-in 30,000 Depreciation Expense - Sales 22,000 Cost of Goods Sold 600,000 n the data above, the inventory account sho ed a holonBalance off the accounts and extract a trial balance for sole trader Airman Co. as at 30 September2020:DR CR£ £Capital 306,070Drawings 26,500Cash at bank 20,000Cash in hand 8,500Accounts receivable (Debtors) 70,000Accounts payable (Creditors) 16,000Inventory (Stock): 30 September 2019 36,000Van 16,000Fixtures and Fittings 32,000Sales 80,000Purchases 150,000Return inwards (Sales Returns) 2,000Carriage inwards 720Returns outwards (Purchase Returns) 600Carriage outwards 400Motor expenses 1,200Rent 5,000Telephone charges 620Wages and salaries 32,000Insurance 830Office expenses 600Sundry expenses 300402,670 402,670Inventory as at 30 September 2020 was £120,000.Required a. Draft an Income Statement for Airman Co. for the year ending 30th September 2020 b. The records show that the Airman Co. has been profitable during 10 years since 2009. Due to COVID-19 outbreak, explain the possible impact of COVID-19 on company Income statement items.Adjusted Trial Balouce Particulars Cash Accoouts seceivoble Dr $ 6700TB SA Qu. 16-59 (Static) Complete: Complete: Current Assets Cash Accounts receivable Prepaid rent Merchandise inventory Total current assets $ Amount $ $ $ 12,000 9,000 5,000 28,000 Round to Nearest Hundredth Percent % % % % 100 %selected intoomation The Following is Foom Meney Company's Cooperative balance Sheets At decombeo 31 2020 Rs.155,000 2019 es 260,000 fuaniture Accumulate d depseceation (74,400) 421y 400) The income state ment Yeports deptecti expense For the yegsnituse costng Jusniture costing seld Fos its the 170om the sale of Rs 36 000 Rs 105,000 book cash of Also was Value, furniture. Yee cuied Conputethe sales ledger and purchase ledger junta ltd as at 31 may 2020. purchase ledger balances as 1 june 2020 $19,420sales ledger balance as 1 june 2020 $28,227purchase journal $210,416sales journal $305,824returns outwards $1,452returns inwards $3,618cheques paid to suppliers $205,751cash paid to supplier $62cheques ans cash received from customers $287,317discount allowed $4,102discount received $1,721contras against purchase ledger $640 1) Sales ledger control2)Puchase ledger controlSEE MORE QUESTIONS
