Top Cake shop was established on 1 April 2019 with an initial investment of $100,000 by the owner (Jack Claff). During the first few weeks of business, the owner employed a part-time book-keeper who recorded the following list of accounts:
Accounts payable $37,100
Buildings 100,000
Cash at bank 31,000
Furniture 12,000
Jack Claff – Capital 150,000
Baking Supplies 5,600
Loan payable 20,700
Accounts receivable 20,000
Land 43,200
Mortgage payable 40,000
Cash drawings by Jack Claff 36,000
Required:
Answer-a:
Rest part to be solved shortly....
Top Cake shop was established on 1 April 2019 with an initial investment of $100,000 by...
need it soon The following list of accounts, in alphabetical order, is for Pharoah Inc. at November 30, 2018: $26,500 Accounts payable 20,000 Accounts receivable Bank loan payable 34,000 Buildings 100,000 Cash 20,700 Common shares 21,700 Equipment 30,000 Income tax payable 4,300 Land 43,200 Inventory 18,000 Mortgage payable 95,000 Retained earnings 51,000 Supplies 600 PHAROAH INC. Statement of Financial Position For the Year Ended November 30, 2018 Assets $ Liabilities and Shareholders' Equity tA Liabilities and Shareholders' Equity $ tA...
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