The director of BTM collects a brochure from the printer and pays with a chequeof € 520.AccountBank A/cBTM receive €4,000 from a debtor.AccountBank A/cBank A/cBTM receive and bank a government grant of € 18,000.AccountBank A/cA customer pays € 840 for repairs in cashDAccountDBank A/cDBTM receive €200 as interest from a personal loan to an employeeAccountDCrDCrCrCrCr

Here are the journal entries for the transactions described:1.Paying for Brochure with Cheque:…

Answered: The director of BTM collects a brochure…

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 46P: Blue Company, an architectural firm, has a bookkeeper who maintains a cash receipts and...

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Similar questions

On 26 February 2021, Africa Traders paid its telephone expenses to the amount of R3 500 (VAT inclusive) with an electronic funds transfer. Africa Traders is a registered VAT vendor. The VAT rate is 15%. What is the VAT amount that will be recorded in the applicable journal of Africa Traders? O a. R446,25 O b. R456,52 O c. RO,00 O d. R525,00
The following transactions by Africa Traders occurred during February 2021: The provisional total of the bank column in the Cash receipts journal was R9 500. The provisional total the bank column in the Cash payments journal was R7 750. The bank balance in the general ledger amounted to R6 500 (favourable) on 1 February 2021. A capital contribution of R1 000 was deposited directly into the bank account of Africa Traders. Made an electronic funds transfer to the amount of R1 427 to settle the monthly telephone bill. Bank charges for the month were R180. SA Dealers deposited R550 directly into Africa Traders bank account. Debit order in favour of SA Computers of R350 for monthly computer services. Interest of R250 received on bank favourable. What will the new total of the bank column in the Cash Payments Journal of Africa Traders at 28 February 2021 be? NB: Instructions 1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72) 2. Use a full stop to…
A man borrows money from a bank which uses a simple discount rate of 14%. He signs a promissory note promising to pay P500.00 per month at the end of 4th, 6th, and 7th month respectively. Determine the amount of money that he received from the bank. a. P1403.68 c. P1102.37 b. P1340.38 d. P1030.28
Raffy Tulfo In Action (RTIA) appointed Shelwyn as its petty cash custodian. As at December 31, 2020, the petty cash amounted to P50,000 and is consisted of the following:Check drawn payable to Shelwyn to replenish the fund P20,000Customer check received for payment of an account 10,000Grab and uber receipts incurred by RTIA staffs 5,000Note pledged by Brill, an employee of RTIA 5,000Currency and coins 5,000Envelope containing contributions for RTIA staff's dinner 5,000As at December 31, 2020, what is the amount to be reported as petty cash in RTIA's statement of financial position?
On 20 December 2021, Africa Traders did an electronic funds transfer payment of R300 000 for the monthly salaries. Africa Traders is not a registered VAT vendor. Which account will be debited, and which account will be credited in the general ledger of Africa Traders? Select one: a. Dr Salaries Cr 2021 R 2021 R Dec Dec 20 Bank 300 000 Dr Bank Cr 2021 2021 R Dec 20 Salaries 300 000 Dec b. Dr Salaries Cr 2021 R 2021 R Dec 20 Bank 300 000 Dec Dr Bank Cr 2021 2021 R Dec Dec 20 Salaries 300 000 c. Dr Salaries Cr 2021 R 2021 R Dec Dec 20 Trade payables 300 000 Dr Trade payables Cr 2021…
On 1 September 2018, Desa Utara established a petty cash fund of RM900. At the end of the month the petty cash fund appeared as follows: Cash RM70.00 Petty cash vouchers Freight-in RM525.00 190.00 Postage Office Supplies 85.00 REQUIRED: (a) Compute the amount of fund to be replenished.
Can you pleace check what answer and solution is correct for the letter c. 1st answer is 552,000 and the other one is 300,000. Note: 1st image is the solution for letter a and b On December 1, 2020, RB Company assigned on a non-notification basis accounts receivable of Php6,000,000 to accounts less a 5% service fee on the accounts assigned. The entity signed a note for the bank loan. On December 31, 2020, the entity collected assigned accounts of Php2,000,000 less discount of Php200,000. The entity remitted the collections to the bank in partial payment for the loan. The bank applied first the collection to the interest and the balance to the principal. The agreed interest is 1% per month on the loan balance. The entity accepted sales returns of Php100,000 on the assigned accounts and wrote off assigned accounts totaling Php300,000. a bank in consideration for a loan of 80% of the What is the balance of accounts receivable assigned on December 31, 2020? b. In the preceding problem,…
On December 1, 2020, RB Company issued accounts receivable of Php6,000,000 to a bank in exchange for a loan of 80% of the accounts minus a 5% service charge on the accounts assigned. The entity signed a bank loan note. On December 31, 2020, the company collected Php2,000,000 in assigned accounts minus a discount of Php200,000. The collections were submitted to the bank as partial payment for the loan. The bank applied the collection first to the interest and then to the principal. On the loan balance, the agreed-upon interest rate is 1% each month. On the allotted accounts, the organisation took sales refunds of Php 100,000 and wrote down assigned accounts totaling Php300,000.
Can you pleace check what answer and solution is correct for the letter c. 1st answer is 552,000 and the other one is 300,000. Note: 1st image is the solution for letter a and b Problem On December 1, 2020, RB Company assigned on a non-notification basis accounts receivable of Php6,000,000 to accounts less a 5% service fee on the accounts assigned. The entity signed a note for the bank loan. On December 31, 2020, the entity collected assigned accounts of Php2,000,000 less discount of Php200,000. The entity remitted the collections to the bank in partial payment for the loan. The bank applied first the collection to the interest and the balance to the principal. The agreed interest is 1% per month on the loan balance. The entity accepted sales returns of Php100,000 on the assigned accounts and wrote off assigned accounts totaling Php300,000. a bank in consideration for a loan of 80% of the What is the balance of accounts receivable assigned on December 31, 2020? b. In the preceding…
Identify the following if it is an example of COMMERCIAL BANK, THRIFT BANK, GOVERNMENT BANK, PRIVATE NON-BANK OR GOVERNMENT NON-BANK. 2. Subsidy granted to the hog raisers in Bgy. Silang Cavite by LGU. 3. Claims amounted to P50,000.00 received by Mrs. Perez after giving birth by the social security.
5- In Turkey savings Deposit Insurance Fund(FDIC) insures each depositor at a commercial bank or participatory bank up to a loss of . . Per account Please select one; a) £50.000 b) £100.000 c) も150.000 d) £200.000 e) £250.000
The Head of the Agency approves the establishment of a P30,000 petty cash fund. Here are the following information for the monthly petty expenses as well as the cash count: Coins and Currencies 7,800 Office Supplies Expense 3,400 Fuel and Oil 10,500 Postage and Courier Expenses 1,900 Maintenance and Operating Expenses 4,000 a. Give the journal entries pertaining to the establishment of the PCF. b. Give the journal entries when the PCF is replenished. c. The journal entries if the PCF is not replenished. d. The journal entries if the PCF is closed. e. How much is the cash shortage(overage)? f. How is the shortage or overage accounted? g. The journal entries for the cash shortage(overage).

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