Homework Answers
In the books of Bingo Club
Income and Expenditure account for the year ended 31-December-2002
Expenditure Amount Income Amount Opening Stock: Refreshment Sales 12680 Refreshments 1400 Entrance Fees 380 Purchase(Refreshments) 7860 Donation 1800 Wages 3600 Subscription 8710 Closing Stock: Refreshment 1420 Gross Profit c/d 12130 Total 24990 Total 24990 Gross Profit b/d 12130 Interest on Loan (10000*15/100) 1500 Stationery 250 (420-170) Affiliation fees 200 Honararium 100 Water and elctricity 100 Postage 20 Depreciation (16000-2400)*15% Subscription written off 240 (till 1991) Net Profit 9720 Total 12130 Total 12130| Total Subscription Received for 2002 | 8760 |
| Add: Subscription receivable as on 31-12-2002(Arrears) | 90 |
| Less: Subscription income received in advance during 2002 | (140) |
| Net Subscription | 8710 |
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Required From the following, taken from the books of Bingo Club, prepare: (a) The income and...
The following are the transactions of the Goodrow Athletic Club for the six months ended 30...
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The following list of Balances was extracted from the books of C. Radio, general merchant, at...
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prepare the bank reconciliation at March 31 and any journal entries required from the reconciliation. The...
prepare the bank
reconciliation at March 31 and any journal entries required from
the reconciliation.
The bank portion of last month's bank reconciliation for Ivanhoe Ltd. at February 28 was as follows: IVANHOE LTD. Bank Reconciliation February 28 Cash balance per bank Add: Deposits in transit $17,834 3,129 20,963 Less: Outstanding cheques #3451 #3470 Reconciled cash balance $1,972 2,117 4,089 $16,874 The reconciled cash balance per bank agreed with the reconciled cash balance per books after the bank reconciliation at...
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Prepare: 1. The 10-Column Worksheet 2. A brief analysis of the difference between accrual and cash...
Prepare:
1. The 10-Column Worksheet
2. A brief analysis of the difference between accrual
and cash profit of the business
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Required information Problem 4-2A Prepare the bank reconciliation and record cash adjustments (L04-5) The following information...
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prepare the bank
reconciliation at March 31 and any journal entries required from
the reconciliation.
The bank portion of last month's bank reconciliation for Ivanhoe Ltd. at February 28 was as follows: IVANHOE LTD. Bank Reconciliation February 28 Cash balance per bank Add: Deposits in transit $17,834 3,129 20,963 Less: Outstanding cheques #3451 #3470 Reconciled cash balance $1,972 2,117 4,089 $16,874 The reconciled cash balance per bank agreed with the reconciled cash balance per books after the bank reconciliation at...
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Prepare a cash budget
Triple-F Health Club (Family, Fitness, and Fun) is a not-for-profit, family-oriented health club. The club's board of directors is developing plans to acquire more equipment and expand club facilities. The board plans to purchase about $25,300 of new equipment each year and wants to establish a fund to purchas the adjoining property in four or five years. The adjoining property has a market value of about $300,300. The club manager, Jane Crowe, is concerned that the...
Prepare:
1. The 10-Column Worksheet
2. A brief analysis of the difference between accrual
and cash profit of the business
5,715 The business has the following opening balances: Cash At Bank Account Receivable Motor Vehicle Account Payable Bank Loan (due 2023) Gym Equipment Stationery Supplies Capital $17,199 $19.023 $35.160 $7.783 $22.102 $21,813 $497 Additional Information: Bank loan interest rates % per year) Motor vehicle useful life (years) Motor vehicle scrap value (S) Insurance paid for (months) Rent paid for (months)...
Required information Problem 4-2A Prepare the bank reconciliation and record cash adjustments (L04-5) The following information applies to the questions displayed below Oscar's Red Carpet Store maintains a checking account with Academy Bank Oscar's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2021 Date Amount So. Date Mount Deposits 2/4 $ 2,700 Checks: 321 2/2 $4,700 2/11 2.300 322 2/8 2/18...
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