Prepare Balance Sheet Noor started her business on June 1, 2020.NoorTrial BalanceAugust 31, 2020SL Particulars1 CashDebitCredit55,6002SuppliesPrepaid Insurance16,300316,0004Land22,0005Cottages5,0006.Furniture26,0007Account Payable16,500Unearned Rent9 Mortgage Payable10 Capital810,40010,00070,00011Drawing5,00012 Rent Revenue13 Repair Expense57,0003,60014Salaries Expense5,00015 Utility Expense9,400ТОTAL163.900163,900

Balance sheet presents assets and liabilities of a business in a systematic way to better present…

Noor started her business on June 1, 2020. Noor Trial Balance August 31, 2020 Debit SL Particulars Credit Cash 55,600 2 Supplies Prepaid Insurance 16,300 3 16,000 4 Land 22,000 5 Cottages 5,000 Furniture 26,000 Account Payable 16,500 8 Uneamed Rent Mortgage Payable Сapital Drawing 10,400 9. 10,000 10 70,000 11 5,000 12 Rent Revenue 57,000 13 Repair Expense Salaries Expense 3,600 14 5,000 15 Utility Expense 9,400 ТОTAL 163.900 163.900 67

Noor started her business on June 1, 2020. Noor Trial Balance August 31, 2020 Debit SL Particulars Credit Cash 55,600 2 Supplies Prepaid Insurance 16,300 3 16,000 4 Land 22,000 5 Cottages 5,000 Furniture 26,000 Account Payable 16,500 8 Uneamed Rent Mortgage Payable Сapital Drawing 10,400 9. 10,000 10 70,000 11 5,000 12 Rent Revenue 57,000 13 Repair Expense Salaries Expense 3,600 14 5,000 15 Utility Expense 9,400 ТОTAL 163.900 163.900 67

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

hi how do we record this in MYOB. Please help me Transactions from early January 2021 2 Obtained a loan of $14,000 from Uncle Oliver (a family relative of Beatrice Reed) at a simple interest rate of 10% per year, Cheque No. 145, ID #CR000001. The principal and interest on the loan are payable in six months time. 3 Received Cheque No. 227 from Pikea for the full amount outstanding on their account, ID #CR000002. 4 Issued Cheque No. 4098 for $10,065 to Mega Tech in payment of Purchase #303 (Supplier Inv#230). 4 Purchased 9 units MePod multimedia players from Pony at $979 each (includes 10% GST), Purchase #306, Supplier Inv#328. Issued Cheque No. 4099 for $3,900 to this supplier for this particular invoice at the time of the purchase. 4 Issued Cheque No. 4100 for $1,320 (includes 10% GST) to Discount Office Supplies for the cash purchase of office supplies. 6 Sold the following items on credit to Jerry Technology, Invoice #3284: 3 units BG90 plasma televisions for…
Modupe owns a retail shop. The following are the list of balances extracted from his books of accounts on 31 December 2019. Description Amount Pula Drawings 5,500.00Net Profit 21,100.00Capital 72,000.00Long term loan 10,000.00Creditors 2,500.00Cash in hand 500.00Cash in Bank 8,000.00Debtors 3,000.00Inventory 12,000.00Land Buildings 40,200.00Vehicles 28,400.00Equipment 8,000.00Required: Prepare a Balance Sheet / Statement of Financial Position for Modupe as at 31 December 2019.
Melody Mouse Trial Balance as at 31 May 2021 Dr. Cr. $ 2$ Purchases 145,870 Returns in 2,350 Returns out 2,175 Sales 374,860 Accounts payables 72,960 Accounts receivables 84,720 Bank 54,780 Capital Carriage in Discounts allowed 110,005 6,540 2,580 Discounts received 3,210 Drawings Rent 45,210 39,540 Insurance 10,270 Furniture and fittings 165,800 Motor Vehicles 254,600 Allowance for depreciation - Furniture and fittings Allowance for depreciation Motor Vehicles Provision for doubtful debts 74,520 125,900 940 Opening Inventory Loan 35,480 110,400 Telephone Water rates 14,870 12,360 874,970 874,970 The following items should be taken into consideration: i) Closing Inventory at 31 May 2021 was $41,050 ii) An amount of $1,950 was prepaid for insurance. This has not yet been accounted for. iii) A water expense accrual of $850 has not yet been accounted for. iv) Depreciation for the year should be applied at the following rates: Furniture and fittings Reducing Balance Straight Line 15% Motor…
Please help me
June 12, 2024 Provide services to customers on account for $33,800. September 17, 2024 Receive $19,000 from customers on account. December 31, 2024 March 4, 2025 May 20, 2025 July 2, 2025 October 19, 2025 December 31, 2025 Estimate that 40% of accounts receivable at the end of the year will not be received. Provide services to customers on account for $48,800. Receive $10,000 from customers for services provided in 2024. Write off the remaining amounts owed from services provided in 2024. Receive $39,000 from customers for services provided in 2025. Estimate that 40% of accounts receivable at the end of the year will not be received. Required: 1. Record transactions for each date. 2. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts. 3. Calculate net accounts receivable reported in the balance sheet at the end of 2024 and 2025. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required…
Prepare the SFP in Report Form
Income statment for Ali Mamat company