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Question 3 - Financial Reporting The following information has been provided to you for the year...
Question 3- Financial Reporting The following information has been provided to you for the year ending...
Question 3- Financial Reporting The following information has been provided to you for the year ending 30th June 2019. Credit Account Name Debit 27,650 Cash at Bank 820 Electricity Payable Motor Vehicle Accumulated Depreciation - Computer Interest Payable Furniture Accounts Receivable Building Drawings Computer Loan Payable Accumulated Depreciation - Motor Vehicle Equipment Accounts Payable Accumulated Depreciation - Furniture Prepaid Rent Profit Supplies Capital (30/6/19) Unearned Income 32,500 1,600 540 16,800 38,760 136,000 2,300 6,300 21,300 8,940 52,300 12,560 1,700 1,400...
Question 5: Financial statements (13 marks) Longford Ltd has provided the following information at the end...
Question 5: Financial statements (13 marks) Longford Ltd has provided the following information at the end of May 2020 LONGFORD LTD Trial Balance 31 May 2020 Cr Dr. $ 2.000 3,900 1,500 800 18,000 Cash Accounts Receivable Prepaid Rent Supplies Motor vehicle Accumulated Depreciation-Motor vehicle Accounts Payable Interest Payable Salaries Payable Revenue Received in Advance Loan Payable (payable in 2025) Share capital (31 May 2020) Retained earnings (1 May 2020) Dividends paid Service Revenue Salaries Expense Electricity Expense Rent Expense...
Problem 1-63A (Algorithmic) Income Statement, Retained Earnings Statement, and Balance Sheet The following information relates to...
Problem 1-63A (Algorithmic) Income Statement, Retained Earnings Statement, and Balance Sheet The following information relates to Ashton Appliances for 2019. Accounts payable $16,800 Accounts receivable 70,300 Accumulated depreciation (building) 106,200 Accumulated depreciation (furniture) 27,600 Bonds payable (due in 7 years) 192,000 Building 300,000 Cash 41,450 Common stock 115,620 Cost of goods sold 511,350 Depreciation expense (building) 11,050 Depreciation expense (furniture) 12,000 Furniture 130,000 Income taxes expense 16,650 Income taxes payable 11,400 Insurance expense 36,610 Interest expense 15,500 Inventory 59,850 Other...
Question 2 - Financial Reporting Escape from LA is a business selling electrical goods owned and...
Question 2 - Financial Reporting Escape from LA is a business selling electrical goods owned and operated by Kurt Russell. The following adjusted trial balance has been prepared at year's end. Please see next page for requirements for this question. Credit (5) 17 800 337 800 ESCAPE FROM LA-TRIAL BALANCE AS AT 30 JUNE 2019 Debit (5) Cash 32 600 Accounts Receivable 26 900 Doubtful Debts Expense 1 700 Inventory (1 July 2018) 43 100 Rent Expense 1 800 Interest...
Question#6-Financial Statements-asmarks) Using the following information prepare a Classified Balance Sheet for Baird Services for the...
Question#6-Financial Statements-asmarks) Using the following information prepare a Classified Balance Sheet for Baird Services for the year ending December 31, 2016. The accounts are in random order and have normal balances. lances are after adjustments. Use the next page for your answer. Accumulated amortization- building Salaries payable Service Revenue Accounts payable Land Accounts receivable Amortization expense- building $152 18 244 38 Office expenses Mortgage payable (due 31/12/2019) 112 Accumulated amortization -furniture & fixtures 60 248 24 60 40 8 16...
Question 2 - Financial Reporting Escape from LA is a business selling electrical goods owned and...
Question 2 - Financial Reporting Escape from LA is a business selling electrical goods owned and operated by Kurt Russell. The following adjusted trial balance has been prepared at year's end. Please see next page for requirements for this question. Credit (5 970 17 800 XXXX__117700 337 800 ESCAPE FROM LA - TRIAL BALANCE AS AT 30 JUNE 2019 Debit (5) Cash 32 600 Accounts Receivable 26 900 V Doubtful Debts Expense TE 1 700 V Inventory (1 July 2018)...
Small Musical Production is owned and operated by Richard Small and the company’s financial year end...
Small Musical Production is owned and operated by Richard Small and the company’s financial year end is June 30th each year. Consider the unadjusted trial balance of the company at June 30, 2014, and the related month-end adjustment data. Small Musical Production Company Trial Balance 30-Jun-14 Balance Debit Credit Cash 200,000 Accounts receivable 85,000 Prepaid rent 105,000 Supplies 45,000 Motor Vehicle 345,000 Accumulated depreciation 155,000 Salary Payable Accounts payable 159,000 Unearned service revenue 100,000 R Small, capital 400,000 R Small,...
PRINCIPLES OF FINANCIAL ACCOUNTING BAC1034 QUESTION 3 [15 MARKS] Listed below are the selected account balances...
PRINCIPLES OF FINANCIAL ACCOUNTING BAC1034 QUESTION 3 [15 MARKS] Listed below are the selected account balances (before adjustment) for Pink Star Berhad as at 31 December 2018. Accounts Accounts Receivable RM 350,000 130,000 296,000 Supplies Prepaid Insurance Furniture and Fixtures 100,000 5,000 Accumulated Depreciation – Furniture and Fixtures Motor Vehicles 250,000 25,000 Accumulated Depreciation – Motor Vehicles Accounts Payable Notes Payable 234,900 120,000 213,400 Unearned Service Revenues Motor Vehicles Expenses Water and Electricity Expenses 18,000 27,200 Adjusted transactions to be...
You have been provided with the Unadjusted Trial Balance for Whiteley Ltd. as at June 30,...
You have been provided with the Unadjusted Trial Balance for Whiteley Ltd. as at June 30, 2019. The company uses the periodic system for inventory management. All sales revenue is recorded on credit, no cash sales are made by the company. There are four (4) parts to this question including PART A: General Journal entries, PART B: Classified Income Statement, PART C: Equity ledger account closing balance calculation and PART D: Classified Balance sheet. e WHITELEY LTD Unadjusted Trial Balance...
You have been provided with the Unadjusted Trial Balance for Whiteley Ltd. as at June 30,...
You have been provided with the Unadjusted Trial Balance for Whiteley Ltd. as at June 30, 2019. The company uses the periodic system for inventory management. All sales revenue is recorded on credit, no cash sales are made by the company. There are four (4) parts to this question including PART A: General Journal entries, PART B: Classified Income Statement, PART C: Equity ledger account closing balance calculation and PART D: Classified Balance sheet. e WHITELEY LTD Unadjusted Trial Balance...
Question 3- Financial Reporting The following information has been provided to you for the year ending 30th June 2019. Credit Account Name Debit 27,650 Cash at Bank 820 Electricity Payable Motor Vehicle Accumulated Depreciation - Computer Interest Payable Furniture Accounts Receivable Building Drawings Computer Loan Payable Accumulated Depreciation - Motor Vehicle Equipment Accounts Payable Accumulated Depreciation - Furniture Prepaid Rent Profit Supplies Capital (30/6/19) Unearned Income 32,500 1,600 540 16,800 38,760 136,000 2,300 6,300 21,300 8,940 52,300 12,560 1,700 1,400...
Question 5: Financial statements (13 marks) Longford Ltd has provided the following information at the end of May 2020 LONGFORD LTD Trial Balance 31 May 2020 Cr Dr. $ 2.000 3,900 1,500 800 18,000 Cash Accounts Receivable Prepaid Rent Supplies Motor vehicle Accumulated Depreciation-Motor vehicle Accounts Payable Interest Payable Salaries Payable Revenue Received in Advance Loan Payable (payable in 2025) Share capital (31 May 2020) Retained earnings (1 May 2020) Dividends paid Service Revenue Salaries Expense Electricity Expense Rent Expense...
Question 2 - Financial Reporting Escape from LA is a business selling electrical goods owned and operated by Kurt Russell. The following adjusted trial balance has been prepared at year's end. Please see next page for requirements for this question. Credit (5) 17 800 337 800 ESCAPE FROM LA-TRIAL BALANCE AS AT 30 JUNE 2019 Debit (5) Cash 32 600 Accounts Receivable 26 900 Doubtful Debts Expense 1 700 Inventory (1 July 2018) 43 100 Rent Expense 1 800 Interest...
Question#6-Financial Statements-asmarks) Using the following information prepare a Classified Balance Sheet for Baird Services for the year ending December 31, 2016. The accounts are in random order and have normal balances. lances are after adjustments. Use the next page for your answer. Accumulated amortization- building Salaries payable Service Revenue Accounts payable Land Accounts receivable Amortization expense- building $152 18 244 38 Office expenses Mortgage payable (due 31/12/2019) 112 Accumulated amortization -furniture & fixtures 60 248 24 60 40 8 16...
Question 2 - Financial Reporting Escape from LA is a business selling electrical goods owned and operated by Kurt Russell. The following adjusted trial balance has been prepared at year's end. Please see next page for requirements for this question. Credit (5 970 17 800 XXXX__117700 337 800 ESCAPE FROM LA - TRIAL BALANCE AS AT 30 JUNE 2019 Debit (5) Cash 32 600 Accounts Receivable 26 900 V Doubtful Debts Expense TE 1 700 V Inventory (1 July 2018)...
PRINCIPLES OF FINANCIAL ACCOUNTING BAC1034 QUESTION 3 [15 MARKS] Listed below are the selected account balances (before adjustment) for Pink Star Berhad as at 31 December 2018. Accounts Accounts Receivable RM 350,000 130,000 296,000 Supplies Prepaid Insurance Furniture and Fixtures 100,000 5,000 Accumulated Depreciation – Furniture and Fixtures Motor Vehicles 250,000 25,000 Accumulated Depreciation – Motor Vehicles Accounts Payable Notes Payable 234,900 120,000 213,400 Unearned Service Revenues Motor Vehicles Expenses Water and Electricity Expenses 18,000 27,200 Adjusted transactions to be...
You have been provided with the Unadjusted Trial Balance for Whiteley Ltd. as at June 30, 2019. The company uses the periodic system for inventory management. All sales revenue is recorded on credit, no cash sales are made by the company. There are four (4) parts to this question including PART A: General Journal entries, PART B: Classified Income Statement, PART C: Equity ledger account closing balance calculation and PART D: Classified Balance sheet. e WHITELEY LTD Unadjusted Trial Balance...
You have been provided with the Unadjusted Trial Balance for Whiteley Ltd. as at June 30, 2019. The company uses the periodic system for inventory management. All sales revenue is recorded on credit, no cash sales are made by the company. There are four (4) parts to this question including PART A: General Journal entries, PART B: Classified Income Statement, PART C: Equity ledger account closing balance calculation and PART D: Classified Balance sheet. e WHITELEY LTD Unadjusted Trial Balance...
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