The folowing tral balance was extracted from the books of a retal trader, who has been in business to Rink Kamet Tral Balance as at 30 Apri 2020 "Dr. Cr. Sales 288, 128 Purchases 143,568 216.000 108,000 20,790 Equpment Motor Vehicie Depreciation expense Provision for depreciation - Equipment Provision for depreciation - Motor Vehide Opening stock Retuns in 81.900 36.000 28,170 1,170 Retums out 432 Accounts payabies Accounts recelvabies Bad debts expense Bank 45,794 51,480 1,890 36,792 13.500 2610 2430 3.294 Cash Camage in Camage out Discounts allowed Discounts recelved Captal Drawings Rent Insurance 2160 212.058 22.500 43.200 6,012 7434 Interest expense Loan Provision for bad dects 52.000 1,548 Telephone Water rates 5,940 5240 720.020 720,020 Stock at 30 Apri 2020 was S25,700 You are required to prepare the financial statements (Income Statement and Balance Sheet) for the year ended 30 April 2020 .... ... ...

THe following trial balance was extracted from the books of ABC investment on 31 May 2021 Trial Balance as at 31 May 2021   dr cr Capital   1000 Motor Expenses 15 200   Return Outward   1350 Carriege Outward 1200   inventory 25800   Purchases 189650   Debtors 56400   Bank    84170 Drawings 34820   sales   265700 Return Ourtwards 760   Creditors   44440 Carriage Inwards 550   Motor Vehicle 120 500   Provision for doubtful debts   880 provision for depreciation   47340 Inventory as at 31 May 2021 was valued N$ 12 900 Required Prepare statemtn of comprehensive income and statement of financial position for the year ended 31 May 2021

The trial balance of Fuzzy Security Services Ltd. as of January 1, Year 9, had the following normal balances:Cash$93,380Petty Cash100Accounts receivable21,390Allowance for doubtful accounts2,485Supplies180Prepaid rent3,000Merchandise inventory (23 @ $280)6,440Equipment9,000Van27,000Accumulated depreciation14,900Salaries payable1,500Common stock50,000Retained earnings91,605During Year 9, Fuzzy Security Services experienced the following transactions:1. Paid the salaries payable from Year 8.2. Paid $9,000 on May 2, Year 9, for one year’s office rent in advance.3. Purchased $425 of supplies on account.4. Purchased 145 alarm systems at a cost of $290 each. Paid cash for the purchase.5. After numerous attempts to collect from customers, wrote off $2,060 of uncollectible accounts receivable.6. Sold 130 alarm systems for $580 each plus sales tax of 5 percent. All sales were on account. (Be sure to compute cost of goods sold using the FIFO cost flow method.)7. Billed $107,000 of monitoring…

Thrilled Incorporated presented you with the following post-adjustment trial balance for the year ended 31 March 2022: Description Debit Credit Ordinary shares   1 200,00 Preference shares   800,00 Retained earnings   6 070,00 Trade creditors   1 590,00 Plant and machinery 5 300,00   Motor vehicles 1 900,00   Office furniture 550,00   Trade debtors 640,00   Accumulated depreciation on plant and machinery   150,00 Accumulated depreciation on motor vehicles   70,00 Accumulated depreciation on office furniture   35,00 Cash and bank 3 100,00   Prepaid expenses 45,00   Sales   4 100,00 Cost of sales 1 500,00   Operating expenses 980,00     14 015,00 14 015,00 Required:Prepare the Statement of Financial Position for Thrilled Incorporated for the financial year ended 31 March 2022

ght © 2020. Pearson Education, Limited. All rights reserved. 3.6 The following is the statement of financial position of TT and Co. (see Self-Assessment Question 3.1 on page 117) at the end of its first year of trading: Statement of financial position as at 31 December 2018 £ ASSETS Non-current assets Property, plant and equipment: Delivery van at cost Depreciation Current assets Inventories Trade receivables Prepaid expenses* Cash Total assets EQUITY AND LIABILITIES Equity Original Retained earnings Current liabilities Trade payables Accrued expensest 12,000 (2,500) 9,500 65,000 19,600 5,300 750 90,650 100,150 50,000 26,900 76,900 22,000 1,250 23,250 100,150 Total equity and liabilities *The prepaid expenses consisted of rates (£300) and rent (£5,000). +The accrued expenses consisted of wages (£630) and electricity (£620).

Displayed here are the draft financial statements which have been prepared for Valerie’s  business for the year ended 30 April 2021. Draft Statement of Financial Position as at 30 April 2021   Assets       Non-current assets see point a. below     Cost   90,000   Provision for depreciation   30,600   Net Book Value     59,400 Current assets       Inventory   To be advised   Trade receivables   43,200   Cash   4,680 47,880 Total assets     107,280         Liabilities       Current liabilities       Trade payables   17,280   Non-current liabilities       Bank loan   16,000   Total liabilities     33,280 Net assets     74,000         Owner’s interest     Capital invested   24,000 Profit and Loss Reserve:     Opening balance 34,720   Draft profit for the year…

The following is a portion of the current asset section of the balance sheets of HiROE Co., at December 31, 2020 and 2019:    12/31/20 12/31/19 Accounts receivable, less allowance for uncollectibleaccounts of $23,000 and $11,000, respectively $457,000 $359,000       e-2. What factors might have caused the change in this ratio?   Check All That Apply Credit was extended to proportionately more slow-paying or high credit-risk customers during 2020. Credit was extended to proportionately more slow-paying or high credit-risk customers during 2020. Credit was extended to proportionately more slow-paying or lower credit-risk customers during 2020. Credit was extended to proportionately more slow-paying or lower credit-risk customers during 2020. Credit was extended to proportionately more slow-paying or high credit-risk customers during 2019. Credit was extended to proportionately more slow-paying or high credit-risk customers during 2019. Credit was extended…

The trial balance of DSY Enterprise as at 31 December 2020 is as follows: Debit RM Cash Account receivable Inventory (1 January 2020) Land Building Accumulated depreciation - building Equipment Accumulated depreciation equipment Bank loan Account payable Capital Drawings Sales Account Purchases Carriage inwards Discount received Salary Utility Repairs and maintenance Petrol Insurance 12,700 18,800 45,000 46,000 98,500 41,750 5,000 354,400 550 3,050 34,900 9,700 2,950 3,600 1,750 678,650 Credit RM 6. Accrued utility expenses as at 31 December is RM 2,700. 7. Five per cent of the debt is assumed uncollectible. Required: a. The Statement of Profit or Loss for the year ended 31st December 2020. b. The Statement of Financial Position as at 31st December 2020. 27,000 21,200 10,000 34,500 133,900 452,050 678,650 Additional information: 1. Depreciation for the building and equipment are RM 5,000 and RM 4,500 respectively. 2. Inventory as at 31 December 2020 is RM 44,450. 3. Interest on bank…

The following three accounts appear in the general ledger of Sheffield Corp, during 2022. Equipment Date Debit Credit Balance Jan. 1 Balance 159,400 July 31 Purchase of equlpment 70,400 229,800 Sept. 2 Purchase of equipment 54,700 284,500 Nov. 10 Cost of equipment sold 48,300 236,200 Accumulated Depreciation-Equipment Date Debit Credit Balance Jan. 1 Balance 70,300 Nov. 10 Accumulated depredation on equipment sold 14,200 56.100 Dec. 31 Depreciation for year 24,600 80,700 Retained Earnings Date Debit Credit Balance Jan. 1 Balance 105,600 Aug 23 Dividends (cash dividends deckared and pald) 17,800 87,800 Dec. 31 Net Income 65,100 152,900 From the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indirect method. The loss on disposal of plant assets was $8,500. (Show amounts that decrease cash flow with either a - sign e.y. -15,000 or in parenthesis eg. (15,000).) SHEFFIELD CORP Partial Statement of Cash Flows For the Year Ended…

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:Dec 31 20Y9 Dec 31 20Y8ASSETSCash $ 70,720 $ 47,940Accounts Receivable 207,230 188,190Inventories 298,520 289,850Investments - 102,000Land 295,800 -Equipment 438,600 358,020Accumulated Depreciation-Equipment (99,110) (84,320)Total Assets $ 1,211,760 $ 901,680LIABILITIES AND STOCKHOLDERS' EQUITYAccounts Payable $ 205,700 $ 194,140Accrued Expenses Payable (operating expenses) 30,600 26,860Dividends Payable 25,500 20,400Common Stock, $1 par 202,000 102,000Paid-in Capital; Excess of issue price over par-common stock 354,000 204,000Retained Earnings 393,960 354,280Total Liabilities and Stockholders Equity: $ 1,211,760 $ 901,680Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:A. Equipment and land were acquired for cashB. There were no disposals of equipment during the year.C. The investments were sold for $91,800 cash.D. The common stock was…