Q.2.3 Prepare the debtors list of Towel Talk as at 28 February 2021. (Round off to the nearest rand) (Show all workings)
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Q.2.3 Prepare the debtors list of Towel Talk as at 28 February 2021. (Round off to
the nearest rand) (Show all workings)
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- The following table describes your bank account balance before and after each time point as well as deposit and withdrawal history from April 1, 2020 to April 1, 2021. Date Balance before Deposit Withdrawal Balance after Apr. 1, 2020 300 300 Jul. 1, 2020 350 100 250 Dec. 1, 2020 280 200 480 Apr. 1, 2021 500 500 Calculate the dollar-weighted interest rate during the entire period. O less than 33% at least 33%, but less than 34% at least 34%, but less than 35% at least 35%, but less than 36% at least 36%, but less than 37% at least 37% Question 9 (Continued from the last question.) Calculate the time-weighted interest rate during the entire period. less than 33% at least 33%, but less than 34% at least 34%, but less than 35% at least 35%, but less than 36% at least 36%, but less than 37% at least 37%On 5 November 2019 the FTSE 100 was £7,388.08. You invested £10,000 (net) in a FTSE 100 tracker fund (after charges) on that day. By close of business on 30 June 2020, the FTSE 100 was at £6,169.74. What would the value of your £10,000 would be on 30 June 2020? please show calculations, thank youPrepare the debtors collection period for the four quarters of 2021
- NEED HELP WITH II. III. IV.An invoice dated 15th March 2021 for RM750 was paid on the 31st March 2021. If the trade discount was 15% and the cash discount terms were 8/10, 5/30 and n/30, find:a) The trade discount offered.b) The cash discount offered.c) The amount paid.Upon checking, the book of Meraki on December 31, 2020 is composed of the following:· Cash on Hand- P50,000· Demand Deposit- P200,000· Time Deposit, 30 days- P100,000· DAIF Check of customer- P4,000· Money market placement (due June 30, 2021)- P150000· Savings Deposit in a closed bank- P10000· IOU from employee- P2000· Pension Fund- P300000· Petty Cash Fund- P1000· Customer’s Check dated January 1, 2022- P5000· Customer’s Check outstanding for 18 months- P4000· Unused credit line- P50000 Additional information: a. P20,000 check was recorded as payment in December 31, 2020 but is mailed on January 5, 2021 to the suppliers. b. On December 31, 2020 a check dated January 15, 2021 of P10,000 in payment of accounts payable was recorded and mailed. c. While the Cash Receipt Journal is open until January 15, 2021, an amount of P40,000 was collected and recorded on December 31, 2020. d. The company uses the calendar year.…
- On January 1, 2022, Slack Company finished legal services and accepted in exchange a 5% $400,000 promissory note with a due date of December 31, 2024. Interest is receivable on January 1 of each year. Notes with similar risk have a market rate of interest of 10%. Set financial calculators to zero decimal place. Required: (a) Determine the value of the following: N = Answer 1 Question 3 I/Y = Answer 2 Question 3 PMT = $Answer 3 Question 3 FV = $Answer 4 Question 3 (b) The present value of the note was $Answer 5 Question 3 (c) Prepare a Schedule of Note Discount/Premium Amortization for Slack Company under the effective interest method. Slack Company Schedule of Note Discount/Premium Amortization Effective Interest Method Date Cash Interest Amortized Amount Carrying Value of Note Jan 1, 2022 $Answer 6 Question 3 Dec 31, 2022 $Answer 7 Question 3 $Answer 8 Question 3 $Answer 9 Question 3 Answer 10 Question 3 Dec 31,…see the attached pictureOn January 1, 2021, the general ledger of ACME Fireworks includes the following account balances:Accounts Debit CreditCash $ 25,100Accounts Receivable 46,200Allowance for Uncollectible Accounts $ 4,200Inventory 20,000Land 46,000Equipment 15,000Accumulated Depreciation 1,500Accounts Payable 28,500Notes Payable (6%, due April 1, 2022) 50,000Common Stock 35,000Retained Earnings…
- Entries for Issuing Bonds and Amortizing Discount by Straight-Line Method On the first day of its fiscal year, Chin Company issued $26,500,000 of five-year, 12% bonds to finance its operations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 13%, resulting in Chin receiving cash of $25,547,585. a. Journalize the entries to record the following: 1. Issuance of the bonds. 2. First semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) 3. Second semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) If an amount box does not require an entry, leave it blank. 1. 2. 3. 300 000 000 000 000 b. Determine the amount of the bond interest expense for the first year.hi based on the above question would item h) $250,000 of the notes payable is due for payment on December 31st, 2021, would this be reflected in the jounal entry? if so how do I enter it on the journal entry?Please answer thanks