Depreciation charges are calculated on an annual basis in which the expense will be recognizedin the year of purchase and no expense in the year of disposal.These are the transactions on fixed assets for the year ended Dis 31, 2018.TransactionsCost (RM)LVehicle purchaseOffice equipment purchaseVehicle purchaseOffice equipment purchaseH.REQUIRED:a. Prepare accumulated depreciation accounts for the year ended 31 Dis 2018 for:VehicleOffice Equipment70,00020,000PODLL00100080,0005,000DateAugust 1, 2018September 15, 2018November 1, 2018January 1, 2018 QUESTION 7On Jan 31. 2018, Statement of Financial Position Majid Sdn Bhd shows the following informationFixed assetsVehicleOffice Equipmentrelating to fixed assets:Depreciation rate are as follow:Fixed assetsVehicleOffice EquipmentCost (RM)200,00064,000Depreciation Rate20%10%Date of Purchases5 Mac 20155 Oct 2016Depreciation MethodStraight LineReducing Balance

It is the amount of reduction in the value of a tangible fixed asset due to tear and wear,…

On Jan 31. 2018, Statement of Financial Position Majid Sdn Bhd shows the following information Fixed assets Vehicle Office Equipment relating to fixed assets: Cost (RM) 200,000 64,000 Date of Purchases 5 Mac 2015 5 Oct 2016

On Jan 31. 2018, Statement of Financial Position Majid Sdn Bhd shows the following information Fixed assets Vehicle Office Equipment relating to fixed assets: Cost (RM) 200,000 64,000 Date of Purchases 5 Mac 2015 5 Oct 2016

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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Allstate Moving Company reported the following amounts on its balance sheet as of December 31, 2019 and December 31, 2018: 2019 2018 Cash and Receivables $ 95 comma 000$95,000 $ 125 comma 000$125,000 Merchandise Inventory 165 comma 000165,000 190 comma 000190,000 Property, Plant and Equipment, net 750 comma 000750,000 770 comma 000770,000 Total Assets $ 1 comma 010 comma 000$1,010,000 $ 1 comma 085 comma 000$1,085,000 Total Liabilities $ 485 comma 000$485,000 $ 445 comma 000$445,000 For the vertical analysis, what is the percentage of current assets as of December 31, 2019? (Round your answer to two decimal places.) A. 40.9140.91% B. 29.0329.03% C. 25.7425.74% D. 34.6734.67%
Question Content Area Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $33,234 Accounts receivable 67,995 Accrued liabilities 6,510 Cash 22,738 Intangible assets 35,347 Inventory 83,390 Long-term investments 101,069 Long-term liabilities 79,156 Notes payable (short-term) 27,161 Property, plant, and equipment 689,074 Prepaid expenses 2,037 Temporary investments 30,842 Based on the data for Harding Company, what is the quick ratio (rounded to one decimal place)? a.3.1 b.0.8 c.1.8 d.15.4
K Winky Flash Photo reported the following figures on its December 31, 2024, income statement and balance sheet: (Click the icon to view the figures.) Compute the asset turnover ratio for 2024. Round to two decimal places. Data table Net sales Net sales 230,500 Cash Accounts Receivable Merchandise Inventory Prepaid Expenses Property, Plant, and Equipment, net Print + + *** Done Average total assets 460,000 - X $ 460,000 Dec. 31, 2024 Dec. 31, 2023 $ 33,000 $ 26,000 60,000 58,000 71,000 78,000 11,000 7,000 101,000 16,000 = = Asset turnover ratio 1.99
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Write & Insert Fields Preview Results Finish The following are extracts from the financial records of COF (Pty) Ltd for the year ended 30 June 2021: Extract from the statement of profit or loss and other comprehensive income for the year ended 30 June 2021 30 June 2021 R Revenue from sale of goods 920 000 Cost of sales Profit on sale of non-current assets Commission income 490 000 31 000 23 000 Audit fees 84 000 Depreciation Interest expense (finance cost) Income tax expense 72 000 20 000 87 000 Profit for the year (after tax) Extract from the statement of financial position as at 30 June 2021 BACHELOR OF COMMERCE YEAR1- ACADEMIC AND ASSESSMENT CALENDAR - DISTANCE + REGENT BUSINESS SCHOOL (RBS) - JANUARY 2021 43 123 000 30 June 2021 30 June 2020 302 000 690 000 292 000 Inventories Trade receivables Trade payables Taxation payable Prepaid expenses Accrued expenses Required: 720 000 400 000 385 000 75 000 60 000 2 000 8 000 84 000 88 000 Prepare only the "Cash generated by operations"…
2. The following Statement of Financial Position was extracted from the books of Gagah Perkasa Sdn Bhd at 31 December 2018 and 2019. Gagah Perkasa Sdn Bhd Statement of Financial Position as at 31 December 2018 2019 RM RM RM RM Non-current Assets Buildings Fixtures less Depreciation Van less Depreciation 50,000 1,800 3,920 55,720 50,000 2,000 7,400 59,400 Current Assets Inventory Trade accounts receivables 5,600 6,400 900 12,400 8,200 Bank Cash 220 200 13,120 68.840 20,800 80.200 TOTAL ASSETS Financed by: Capital account : Balance as at 1 January Add : Net Profit Cash introduced 37,040 35,200 52,540 21,160 10.000 83,700 (21.600) 72,240 (19.700) Less : Drawings 52,540 62,100 Non-current Liabilities Loan (repayable in 10 years' time) 10,000 15,000 Current Liabilities Account payable Bank overdraft TOTAL LIABILITIES TOTAL LIABILITIES AND CAPITAL 6,300 3,006 16.300 68.840 94 18.100 80.200 Additional information at 31 December 2019: • Fixtures bought in 2019 cost RM400. • Van bought in 2019…
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