Required: Journalize the transactions on the books of Thelma’s Amusements.
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Thelma’s Amusements completed the following transactions during November 2012:
Required: Journalize the transactions on the books of Thelma’s Amusements.
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- Prepare the JOURNAL ENTRY to record the transactions of DALISAY Tailoring Shop for the month of January 2017 and POST IT TO THE LEDGER. 1 Mr. Dalisay made the following investment: i. Cash ii. SEWING Machine P80,000 20,000 Purchased furniture for cash , P10,000. Purchased supplies for cash,P3,000. Paid the January 2017 rent, P2,000. Acquired additional equipment (two sewing machine @ P15,000 each). Terms: P10,000 down,the balance 3 5 7 8 On six monthly installment. 15 Paid the semi-monthly payroll,P2,000 with the following deductions; SSS Premium Payable,P66.00, Medicare Payable,P12,00, With holding Taxes Payable,P14.00. 15 Received cash for services rendered,P15,000. 20 Sent a bill to customer for services rendered,P5,000. 22 Received a note for a customer for services rendered,P5,000. 27 Purchased supplies for cash,P500. 31 Paid salaries for two weeks,P2,000. (use same deductions on January 15,2017) 31 Withdrew cash for personal use, P500.00.Please see attached picturesThe statement of financial position for Aminah Kaya Berhad together with relevant notes are given below. Aminah Kaya Berhad produces crockery for sale to shops and through its online platform. Aminah Kaya Berhad Statement of Financial Position as at 30 June 2020 and 30 June 2021 2021 RM'000 2020 RM'000 ASSET Non-Current Assets Trademarks 100 120 10,200 10,300 8,600 8,720 Property Plant & equipment Current Asset 1000 1,100 1,550 Inventories Trade and other receivables 1,800 Cash and Cash Equivalent 200 310 3,000 2.960 TOTAL ASSET 13.300 11.680 LIABILITIES Current Liabilities Trade and other payables Current tax liability 1,200 1,000 250 300 1.500 1.250 Non-Current Liabilities Long Term Borrowings 3,200 2,600 TOTAL LIABILITIES 4,700 3,850 EQUITY Share Capital Retained Earnings Total Equity 3,500 5,100 8.600 2,950 4,880 7.830 TOTAL EQUITY AND 13,300 11.680 LIABILITIES During the year to 30 June 2021: 1. Aminah Kaya Berhad paid RM2,500,000 for a new property, plant and equipment. 2.…
- prepare these entries for Sarah's plant services. prepare general journal entries for the needed balance dy adjustments for the year ending 30/6/21: A stocktake of the inventory on hand was completed on 30/6/21. The value of the stocktake was $17,000. The inventory asset account as at 30/6/21 before adjustments was $18,000 The allowance for Doubtful debts should be 5% of the balance of Accounts Receivable. The accounts receivable balance at 30/6/21 is $76,120 and the balance of the Allowance for Doubtful Debts was $3,450Use the information at the top of this screen (next to Instructions) to complete the general ledger of Foster Incorporated:Vala
- I need BE5-3The following transactions occurred for Luminary Engineering: View the transactions. Journalize the transactions of Luminary Engineering. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; Notes Payable; Luminary, Capital; Luminary, Withdrawals; Service Revenue; and Utilities Expense. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) July 2: Received $15,000 contribution from Bobby Luminary, owner, in exchange for capital. Date Jul. 2 Transactions Jul. 2 Accounts and Explanation Jul. 4 Jul. 5 Jul. 10 Jul. 12 Jul. 19 Jul. 21 Jul. 27 Debit Received $15,000 contribution from Bobby Luminary, owner, in exchange for capital. Paid utilities expense of $440. Purchased equipment on account, $2,600. Performed services for a client on account, $3,500. Borrowed $7,200 cash, signing a notes payable. Luminary withdrew $650 cash from the business. Purchased…don't give answer in im
- CLOSING ENTRIES AND POST-CLOSING TRIAL BALANCE Refer to thework sheet in Problem 6-7A for Megaffin's Repairs. The trial balanceamounts (before adjustments) have been entered in the ledger accountsprovided in the working papers. If you are not using the working papersthat accompany this book, set up ledger accounts and enter thesebalances as of January 31, 20--. A chart of accounts is provided attached. REQUIRED 1. Journalize (page 10) and post the adjusting entries.2. Journalize (page 11) and post the closing entries.3. Prepare a post-closing trial balance.1. Prepare the general journal entry/ies that would have been processed on 1 January 2021 2. Briefly explain the element you have chosen to debit in the journal entry in (1) above. Your answer should include full explanations and concepts outlined in the Conceptual Framework. 3.Prepare the general journal entry to record the purchase of the factory by Peterson’s Clothing. Your general journal entry must clearly show the date that this transaction should be recognised in the books of the business. If no journal entry is required, briefly motivate why.c) Roberts, a sole trader, has the following transactions for the month of June 2019. 2019 GHS June 1 June 5 Purchased goods on credit from Frank Sold goods on credit to Gifty Bought goods on credit from Ohemaa Returned goods to Frank Sold goods to Stephen Goods retuned by Gifty Goods returned by Stephen 42 65 June 9 24 June 12 12 June 15 81 June 21 24 June 25 33 You are required to do the following: Prepare the relevant Day books for Roberts for June.