2.Yo have been asked to prepare pinancia l accounrsended31st314 Dec Q019. He hasor Mf.Kamau for the yearbooks Of Prime entryaud ledgers on17 Ars kamauan addi tron hehasholiedaiyfa ward edhastaken ksh-li0.000of burinessto yal allgiven you he followi nginformation;I family on10,000 Df businessbanc accounto take to hislast year piantUp toclepieiar edbeand machinery uvedby thebalance method, mc kamau thinksumg straight line mehodbusiness has beenthat they shaulduing reducingisirigmowdep reciatedwNingkamau is conficlent, given his orderMr.bowk That the business wllform for many yearOffice equipment which will be usedin the blscontinue hokamau has puchesedfor nery couple Of yearsMr. Kama ubusiness foroperatepresent sinitsMrOffice equipm ent which. will be used in aof yearshe has just. foundhas purchasednext Coupleyau Thatwhich wasJun o peneed ei ectricityo december 2019Mi. kamau intormsanforQuater Octobeithefor Kih1200Requred:the main aceountinglo cach case, idenmityIn each case identify and than explain g concepti beingtreamed in ē finalatcounte.hghlighted and ind cate how each should be

Accounting concepts are the rules, policies and guidelines that are used for accounting purpose in…

You have been asked 31st Dec 2. to Prepare pinanciial ended aud ledgers 17 Mr kamau 9ccounrs or Mr.kamgu for the year 2019. He has fa ward od books of Prime entry an addi tron he has qiven you the fol lowi ng informations to yai alL in hasn ta ken ksh.l10.000of buriness bank accouN+ holiday' I family Up to last clepre ciar ed usiag reducing balance method , Ms koman. on to take tv his year plant business has been that they shauld and machineruy uved by the be deprecrated thinks now kamau is confielent, givn his order bouk whsrng straiyht line memod Mr. That the business will Continue ho operate form for many years: in its Present kanau has purchesed oftico equipmeni Mr uhich will be usedin the bls nam Couple Of years for Mr. Kama u business for has purchased Oftice of years Mi. kamau intorms yaı That he has just round an un o peneed el ectricity for equiment which. will be used in a next CouPle Quatei october to december 3015 the for Kih 1200 hich was the main accounting concepti being ecch case, idennity and hghlighted and ind. cate how each shouid be treared in ê fine ! aecounte. than explain

You have been asked 31st Dec 2. to Prepare pinanciial ended aud ledgers 17 Mr kamau 9ccounrs or Mr.kamgu for the year 2019. He has fa ward od books of Prime entry an addi tron he has qiven you the fol lowi ng informations to yai alL in hasn ta ken ksh.l10.000of buriness bank accouN+ holiday' I family Up to last clepre ciar ed usiag reducing balance method , Ms koman. on to take tv his year plant business has been that they shauld and machineruy uved by the be deprecrated thinks now kamau is confielent, givn his order bouk whsrng straiyht line memod Mr. That the business will Continue ho operate form for many years: in its Present kanau has purchesed oftico equipmeni Mr uhich will be usedin the bls nam Couple Of years for Mr. Kama u business for has purchased Oftice of years Mi. kamau intorms yaı That he has just round an un o peneed el ectricity for equiment which. will be used in a next CouPle Quatei october to december 3015 the for Kih 1200 hich was the main accounting concepti being ecch case, idennity and hghlighted and ind. cate how each shouid be treared in ê fine ! aecounte. than explain

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Optional. P Search vout References Mailings Review View Help Aav Aoミ、E、、三E4T AaBbCcDc AaBbCcDc AaBbC AaBbCcl AaB ン、A、三三三加、、田 I Normal 1 No Spac. Heading 1 Heading 2 Title Paragraph Styles 4. Jeff, age 50, is thinking of purchasing a S100,000 permanent life insurance policy to fund a gift to his local hospital. He was recently treated there after an automobile accident. He does not expect the policy to be surrendered for a number of years and is concerned that inflation might erode the value of his gift. Which of the following products would best suit Jeff's needs? (A) A whole life participating policy with dividends used to reduce the annual premium. (B) A term to 100 life insurance policy. (C) A whole life participating policy with a paid-up additions dividend option. (D) A whole life non-participating policy.
hi how do we record this in MYOB. Please help me Transactions from early January 2021 2 Obtained a loan of $14,000 from Uncle Oliver (a family relative of Beatrice Reed) at a simple interest rate of 10% per year, Cheque No. 145, ID #CR000001. The principal and interest on the loan are payable in six months time. 3 Received Cheque No. 227 from Pikea for the full amount outstanding on their account, ID #CR000002. 4 Issued Cheque No. 4098 for $10,065 to Mega Tech in payment of Purchase #303 (Supplier Inv#230). 4 Purchased 9 units MePod multimedia players from Pony at $979 each (includes 10% GST), Purchase #306, Supplier Inv#328. Issued Cheque No. 4099 for $3,900 to this supplier for this particular invoice at the time of the purchase. 4 Issued Cheque No. 4100 for $1,320 (includes 10% GST) to Discount Office Supplies for the cash purchase of office supplies. 6 Sold the following items on credit to Jerry Technology, Invoice #3284: 3 units BG90 plasma televisions for…
Prepare journal entry and ledger for the following transactions in the books of Himanshu
MENT OF EDU ASSIGNMENTOFFICL OF CAM 26 The folowing are the transactons of Clam Rado dectranics repair shop for the month af December 2019. Clara Rado nvested the tollowing in hernewly opened electronic repiair shop Cash Equipment P 50,000 30,000 b. Purchased oftice supplies worth P 4.000 in cash. C. Pad rent for the shop space, P 4.000. d. Purchased equipment, P 20,000 with 50% down payment and the balance on account. e. Rendered service to cient, cash P 70,000. t Paid the salary of shop assistant, P 7,000. 9 Rendered nervices to dinnta worth P 30,000 canh andP S5,000 promissory notes, h Collected P30.000 of the account receivables. i Suted the acounts payable CATTON hase d equpment on transaction letter D. + Paid electric bil f P 2.000: water bill P 500, and kelephone billP 500. Required: 1. Using the yelow pad paper, record the appropriate joumal entries. 2 Post the transactions to general ledger using the T-account 27 3. Prepare the Trial Balance, tor the month of September.…
The following information is provided to you by Wacu Wanderi ; 31st December 2019 31st December 2020 Shs. Shs Wages in arrears 60,000 67,000 Insurance paid in advance 21,000 25,500 Rates in arrears 7,500 NIL Rates in advance NIL 9,000 Payments made during 2020 were; Wages Kshs.715,000 Insurance Kshs.43,500 Rates Kshs.46,000 Calculate the amounts he should transfer to the income statement for wages, insurance and rates for the year 2020.
tle=pccertified-professional-in-financial-accounting 5e33e716ef363&c=9&p=1 O New Tab 6 Currency Conversion O Silberline Intranet S.. @ https://www.comm... A SAP Health Declara. I Silberline Home ( Previous al Question 1/50 O 117 min 15 secs 2% 89% Done In October 2015 Utland sold some goods on sale or return terms for $2,500. Their cost to Utland was $1,500. The transaction has been treated as a credit sale in Utland's financial statements for the year ended 31 October 2015. In November 2015 the customer accepted half of the goods and returned the other half in good condition. What adjustments, if any, should be made to the financial statements? A. Sales and receivables should be reduced by $2,500, with no adjustment to closing inventory B. ) Sales and receivables should be reduced by $2,500, and closing inventory increased by $1,500. C. Sales and receivables should be reduced by $1,250, and closing inventory increased by $750 D. No adjustment is necessary Next O Mark For Review @…
117 For B.A/B.COM apter - 4 Day:. Questions @Nat The prabability that. the Lumy Date: 20 athod: vchicle anledng Cavens has Canadian. ligense plates is 0, 12; the probability that it is Camper is 0,28; and the probability that iš a Camper with . aqual to Canadian license plates is 009. What is the piobability Hat 1 iJe A Campe betta enfering the Lumy Cavens has Canadian license.
imeli Ales age 7 of 12) i moodle.jamessprunt.edu/mod/quiz/attempt.php?attempt=473287&cmid%36056718page=6 JSCC Homepage - Tech Support - Student Toolbox JSCC Bookstore English (United States) (en_us) - Financial Accounting (2021SP-ACC-120-51-Meza) urses / 2021SP-ACC-120-51/ Week of April 29 / Final Exam Journalize the entries to record the following selected transactions: (a) Sold $900 of merchandise on account, subject to 7% sales tax. The cost of the merchandise sold was $510. (b) Paid $436 to the state sales tax department for taxes collected. A- I Date Description Debit Credit page Next page r6 Test Jump to Type here to search
Journal entries
Use the following question to answer a question that follows. Lorato and Loago’s Trial Balance as at 31 December 2001 Dr Cr Capital accounts: Lorato 100000 Loago 50000 Current accounts: Lorato 200 Loago 600 Cash drawings for the year: Lorato 15000 Loago 10000 Freehold premises at cost 50000 Inventory at 1 January 2021 75000 Fixtures and Fittings at cost 15000 Purchases and purchase returns 380000 12000 Bank 31600 Sales and sales Returns 6000 508000 Accounts receivables and accounts payables 52400 33300 Carriage inwards 21500 Carriage outwards 3000 Staff salaries 42000 VAT 8700 Office expenses 7500 Provision for doubtful debts 2000 Advertising 5000 Discounts received 1000 Discounts Allowed 1200 Bad debts 1400 Rent and business rates 2800 Accumulated provision for depreciation offixtures and fittings 3000 720000 720000 At 31 December 2021:a. Inventory on hand was valued at P68, 000b.…
Do a journal entry based on this transections, round interest amounts to the nearest dollar,
23 Mr Hamed having furniture manufacturing business in Ibri. Always he purchases wood (Raw materials) from Al Buraimi wood suppliers.On 1st May 2021 Mr Hamed purchased wood for OMR3000 on credit and paid OMR 1000 immediately. For the remaining amount Mr Hamed gave written promise to the supplier to pay that amount on 31st December 2021. The written promise given by Mr Hamed to the supplier is known as: a. Short-term notes receivables b. Invoice c. Receipt d. Short term notes payables