Q/ provided you with the following data. You are required to find the missing amount, bearing in mind that the company uses the single entry theory 1/1/2020 Furniture 400,000 / land 1,000,000 / fund 100,000 / bank 600,000 / loan 40,000 / notes receivable 60,000/ debtors 50,000 31/12/2020 Furniture 200,000 / land 1,000,000 / fund 160,000 / loan 40,000 / notes receivable 30,000 / debtors??? The additions during the period are equal to 10% of the capital at the end of the period and the withdrawals were 100,000 It is required to find the debtors at the end of the period if you know that the project achieved a profit of 90000

Q/ provided you with the following data. You are required to find the missing amount, bearing in mind that the company uses the single entry theory 1/1/2020 Furniture 400,000 / land 1,000,000 / fund 100,000 / bank 600,000 / loan 40,000 / notes receivable 60,000/ debtors 50,000 31/12/2020 Furniture 200,000 / land 1,000,000 / fund 160,000 / loan 40,000 / notes receivable 30,000 / debtors??? The additions during the period are equal to 10% of the capital at the end of the period and the withdrawals were 100,000 It is required to find the debtors at the end of the period if you know that the project achieved a profit of 90000

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 1ANFS

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Concept explainers

Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.

Question

Q/ provided you with the following data. You are required to find the missing amount, bearing in mind that the
company uses the single entry theory
1/1/2020
Furniture 400,000 / land 1,000,000 / fund 100,000 / bank 600,000 / loan 40,000 / notes receivable 60,000 /
debtors 50,000
31/12/2020
Furniture 200,000 / land 1,000,000 / fund 160,000/ loan 40,000 / notes receivable 30,000 / debtors???
The additions during the period are equal to 10% of the capital at the end of the period and the withdrawals were
100,000
It is required to find the debtors at the end of the period if you know that the project achieved a profit of 90000

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