On June 1 2020 Mr. Tocks started new repair service business. Listed below are the transactions for the month of June 2019. On June 1 Mr. Tocks invested Rs 300,000 cash in new business On June 5 purchased office supplies 1500 On June 12 Purchases building 50,000 paid cash 35,000 signed notes payables for remaining balance June 13 Received cash Rs. 25,000 for services rendered June 15 Rendered services to client ABS worth 22,000 but payment not yet received. June 17 Purchased equipment for Rs32, 000, paying Rs. 20,000 cash and signed a note for the balance hill Rel0000

in Requirements: s not been 1. Journalize every transaction in the General Journal 2. Post every general journal in the General Ledger 3. Prepare a trial balance he "out of f LAYTEY DRAGERN, a tax consultant, began his practice on December 2019. The transactions of the firm are as follows: n-balance December Mr. Dragern invested P150,000 in the firm. Paid rent for December to Marooney Devila's Realty P8,000. 3. Purchased supplies on account, P7,200. 1. 2. 4. Acquired P75,000 of office equipment from BibiKow Co, paying P37,000 down with the balance due in 20days. 5. Paid P7,200 on account for supplies purchased. 6. Paid the salaries for two weeks, P6,000 7. Performed consulting services to Dazzling Blowey for cash, P20,000. 8. Paid the salaries for two weeks, P6,000. CO 9. Performed consulting services to Gremma Repeh on account, P35,000. 10. Received and paid the telephone bills, P1,500. 11. Purchased supplies on account, P8,600. 12. Paid the accounts from BibiKow Co, P25,000. 13. Mr.…

Mr. Sojo opened up a merchandising business on October 1 2019 with a cash investment of 50,000. The following activities were given:

Blue Company, an architectural firm, has a bookkeeper who maintains a cash receipts and disbursements journal. At the end of the year (2019), the company hires you to convert the cash receipts and disbursements into accrual basis revenues and expenses. The total cash receipts are summarized as follows. The accounts receivable from customers at the end of the year are 120,000. You note that the accounts receivable at the beginning of the year were 190,000. The cash sales included 30,000 of prepayments for services to be provided over the period January 1, 2019, through December 31, 2021. a. Compute the companys accrual basis gross income for 2019. b. Would you recommend that Blue use the cash method or the accrual method? Why? c. The company does not maintain an allowance for uncollectible accounts. Would you recommend that such an allowance be established for tax purposes? Explain.

Notes Receivable Metzler Communications designs and programs a website for a local business. Metzler charges $46,000 for the project, and the local business signs an 8% note January 1, 2019. Required: 1. Prepare the journal entry to record the sale on January 1, 2019. 2. Determine how much interest Metzler will receive if the note is repaid on October 1, 2019. 3. Prepare Metzlers journal entry to record the cash received to pay off the note and interest on October 1, 2019.

Natalie opened Natalie Washing co. on July 1, 2022. During July, the following transactions were completed. July 1 Owner invests $12,000 cash to start the business. July 3 Purchased used truck for $8,000, paying $2,000 cash and signing a 1-year, 10% note for the remainder. July 5 Purchased clening supplies for $900 on account. July10 Paid $1800 cash on a 1-year insurnace policy effective July 1 July 12 Billed customers $3700 fore cleaning services performed. July 15 Paid $500 on amount owed on cleaning supplies. July 16 Received $2500 for serviced to be performed evenly from July 16 through September 15. July 22 Paid $2000 for employee salaries. July 29 July 30 July 31 Collected $1600 cash from customers billed on July 12. Paid $290 for maintenance of the truck during month. Owner withdrew $600 from the business for personal expenses. Requirements: 1) Make a tabular analysis of the transactions on accounting equation. Use the following column headings: cash, Supplies, accounts…

Below are the transactions for Alex in Jan 2019: 1 Alex commenced business by depositing cash RM80,000 in the bank as capital 4 A machine was purchased and paid for with company cheque for RM42,000 8 Alex purchased goods for resale amounting to RM17,500 on credit 12 Alex made a cash sales of RM4,800; cost of good sold was RM2,600 16 Alex received a bank loan of RM30,000, the money was credited to the business bank account 20 Alex brought in his personal car for business use, the car was valued at RM65,000 23 Alex purchased goods for resale amounting to RM35,600, he paid the supplier by cheque 27 Alex paid supplier RM17,000 for the goods purchased on 8 Jan 2018, discount received RM500 30 Alex bought a computer for RM5,200 by cheque Required: Prepare the accounting equation for the month of January 2019.

Katie Wright’s banker has asked her to submit a personal balance sheet as of June 30, 2020, in support of an application for a $6,000 home improvement loan. She comes to you for help in preparing it. So far, she has made the following list of her assets and liabilities as of June 30, 2020:

On December 4, 2019 Charie purchased office equipment for 400,000 , terms 2/10,n/15 , inclusive of a 12 % creditable input VAT entry was made on the date of purchase . The same was paid on December 31, 2019 and the former accountant debited Office Equipment and credited Cash for 400, 000 What is the correct initial carrying amount of the PPE?

Prepare the trial balance as of 31st March 2021