FINAN. AND MANAGERIAL ACCT. CONNECT+PROC
FINAN. AND MANAGERIAL ACCT. CONNECT+PROC
9th Edition
ISBN: 9781265925239
Author: Wild
Publisher: MCG CUSTOM
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Chapter 7, Problem 13QS

1.

To determine

Concept Introduction:

Maturity date and interest on note: The maturity date of a note is the date at which interest and the principal amount on the note are payable. Interest is the cost of borrowing. Alternatively, it is profit on lending money, and generally, the rate of interest is charged for use of principal for one year.

The maturity date for the note.

2.

To determine

Concept Introduction:

Maturity date and interest on note: The maturity date of a note is the date at which interest and the principal amount on the note are payable. Interest is the cost of borrowing. Alternatively, it is profit on lending money, and generally, the rate of interest is charged for use of principal for one year.

The Journal entry for a note receivable on August 2.

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Refer to the Hartley Ltd statement of cash flows for the year ended 31 December 2022 and answer the following questions: 1.1 Calculate the following: 1.1.1 Depreciation 1.1.2 Interest paid 1.1.3 Net increase (decrease) in cash 1.1.4 Cash balance as at 31 December 2022. 1.2 Comment on the following: 1.2.1 Cash flows from operating activities of (R390 000) 1.2.2 Cash flows from investing activities of R150 000 1.2.3 Increase in inventory of (R700 000) 1.2.4 Increase in receivables of (R500 000).
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