continuation of Questions 7 is below pls
Homework Answers
Answer to question 1:
| Liabilities | $'000 | $'000 | Assets | $'000 | $'000 | |
| Capital | 48000 | Fixed Assets | 40000 | |||
| Add: Capital introduced on 1st Jan 2020 | 10000 | 58000 | Add: Purchase of building | 3000 | ||
| Add: Purchase of mobile phone | 500 | |||||
| Less: Sale of mobile phone | -100 | 43400 | ||||
| Creditors | 12000 | Stock | 7500 | 7500 | ||
| Add: Purchase of mobile phone | 500 | |||||
| Less: Paid to creditors | -200 | 12300 | ||||
| Debtors | 2500 | |||||
| Add: Sale of mobile phone | 100 | 2600 | ||||
| Cash & Bank | 10000 | |||||
| Add: Capital introduced on 1st Jan 2020 | 10000 | |||||
| Less: Purchase of building | -3000 | |||||
| Less: Paid to creditors | -200 | 16800 | ||||
| Total | 70300 | Total | 70300 |
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continuation of Questions 7 is below pls
Ignitia Enterprises is into mobile phone business. The following...
Question 7 After completing your MBA, three friends who knew ds who knew you did a...
Question 7 After completing your MBA, three friends who knew ds who knew you did a course in financial planning came to you with some issues as follows: 2. The first of them, Jones Kugblenu. He told you he had been billed for a jo for the position of a financial planner. He wants you to explain the following to nie d you he had been billed for a job interview him prepare: i. The relevance of financial planning The...
Question 7 After completing your MBA, three friends who knew ds who knew you did a...
Question 7 After completing your MBA, three friends who knew ds who knew you did a course in financial planning came to you with some issues as follows: 2. The first of them, Jones Kugblenu. He told you he had been billed for a jo for the position of a financial planner. He wants you to explain the following to nie d you he had been billed for a job interview him prepare: i. The relevance of financial planning The...
On May 1, 2017 you had the following items in your business: Stock, $14,500,000; Motor vehicles,...
On May 1, 2017 you had the following items in your business: Stock, $14,500,000; Motor vehicles, $15,000,000; Creditors/Accounts payable- J. Downey $1,500,000, P. Wright $2,000,000; Cash in hand, $300,000; Pre-paid insurance, $80,000; Bank loan, $4,000,000; Furniture & fittings, $3,600,000; Accrued rent, $100,000; Cash at Bank, $12,000,000; Debtors/Accounts receivable-A. Howard $3,000,000, S. Simpson $2,800,000; K. Kirk $350,000. During May 2017 the following business were transacted: May 1- Bought goods on credit from B. Burke $4,500,000. 3- Paid rent with cheque $150,000....
Sent Need the answers for that whole question paper True or false questions (25) has any...
Sent
Need the answers for that whole question paper
True or false questions
(25) has any effect SECTION TRUE OR FALSE QUESTION (40 Marks) The following questions indicate if it's True or False. Each question carries 2 Marks 1. Accounting Principle is general law or rule followed in the preparation of financial statements 2. Usefulness, objectivity and feasibility are the three basic norms generally found in accounting principles 3. The Cash book record only the cash payments 4. If a...
1) 2) 3) 4) 5) 3 BBM205/03 Answer ALL questions below. Question 1 Below was the...
1)
2)
3)
4)
5)
3 BBM205/03 Answer ALL questions below. Question 1 Below was the transactions worksheet of Selna Enterprise on April 1, 2020. + ASSETS Cash + + Account Receivables 3,600 Prepaid expenses 1,000 Supplies on hand 350 EQUITY Share capital 7,350 Retained earnings LIABILITY Account payable 4,400 2,000 The following transactions occurred during April: April 1 Collected RM2,000 cash in satisfaction of an amount owed by a customer. April 3 Billed RM3,000 to customers for chairs rented...
Page 1 of 2 SCHOOL OF BUSINESS, ECONOMICS AND MANAGEMENT AFIN 102- FINANCIAL ACCOUNTING ASSIGNMENT 01...
Page 1 of 2 SCHOOL OF BUSINESS, ECONOMICS AND MANAGEMENT AFIN 102- FINANCIAL ACCOUNTING ASSIGNMENT 01 Due Date: 25th September, 2020 Instructions: The worksheets showing all account entries is to be uploaded in PDF format only. Use the solutions on the worksheet to answer the questions in the accompanying quiz-setup. QUESTION Mr J. Walker, a trader in Lusaka’s Kamwala area, has not been keeping books of accounts till now when he has hired you to be his book keeper. The...
Littlechild started a new kitchen and bath design business called Littlechild Enterprises. The following activities occurred...
Littlechild started a new kitchen and bath design business called Littlechild Enterprises. The following activities occurred during its first month of operations, March 2017 a. Littlechild invested $225,000 cash and office equipment valued at $33,000 in the business b. Purchased a small building for $730,000 to be used as an office. Paid $165,000 in cash and signed a note payable promising to pay the balance over several years. c. Purchased $4,300 of office supplies for cash. d. Purchased $85,000 of...
Simone Cooke is a producer of natural juices.on 31 January2018,she provided the following information about her assets and liabilities: Inventory of frozen beverages on hand valued at $50000. Simone C...
Simone Cooke is a producer of natural juices.on 31 January2018,she provided the following information about her assets and liabilities: Inventory of frozen beverages on hand valued at $50000. Simone Cooke owns an industrial blender valued at $200000. A delivery van was bought at a total cost of $140000 on 3 January,using a six-year,20 percent per annum loan of $60000 from optimum beverages financing Ltd. T.Farmer,who promised to supply some apples for the apple nectar blend,was paid $9000 in advance. Simone...
For the following transactions, identify which principle, constraint, or assumption would apply: Assume a partnership’s business...
For the following transactions, identify which principle, constraint, or assumption would apply: Assume a partnership’s business is going to continue indefinitely. Based upon the dollar amount of cash paid or received, transactions are recorded. An accountant may ignore expense accounts with low dollar balances when deciding which expense accounts, they may want to increase spending on. Benefits of a new software system should be greater than the costs to implement the new software system. Business owners should keep their personal...
Please read the questions carefully. Please draw the cash flow diagrams and explain the steps that...
Please read the questions carefully. Please draw the cash flow diagrams and explain the steps that you are going to approach to solve the problems then solve the problem. Show the details in solving the problems. Please write legible hand writing, otherwise there is a deduction from your grade 10 points Missing Cash Flow Diagram is deductible points equal to 10% of the total points for each question. Question - 1 A series of equal semiannual cash flows starts with...
Question 7 After completing your MBA, three friends who knew ds who knew you did a course in financial planning came to you with some issues as follows: 2. The first of them, Jones Kugblenu. He told you he had been billed for a jo for the position of a financial planner. He wants you to explain the following to nie d you he had been billed for a job interview him prepare: i. The relevance of financial planning The...
Question 7 After completing your MBA, three friends who knew ds who knew you did a course in financial planning came to you with some issues as follows: 2. The first of them, Jones Kugblenu. He told you he had been billed for a jo for the position of a financial planner. He wants you to explain the following to nie d you he had been billed for a job interview him prepare: i. The relevance of financial planning The...
Sent
Need the answers for that whole question paper
True or false questions
(25) has any effect SECTION TRUE OR FALSE QUESTION (40 Marks) The following questions indicate if it's True or False. Each question carries 2 Marks 1. Accounting Principle is general law or rule followed in the preparation of financial statements 2. Usefulness, objectivity and feasibility are the three basic norms generally found in accounting principles 3. The Cash book record only the cash payments 4. If a...
1)
2)
3)
4)
5)
3 BBM205/03 Answer ALL questions below. Question 1 Below was the transactions worksheet of Selna Enterprise on April 1, 2020. + ASSETS Cash + + Account Receivables 3,600 Prepaid expenses 1,000 Supplies on hand 350 EQUITY Share capital 7,350 Retained earnings LIABILITY Account payable 4,400 2,000 The following transactions occurred during April: April 1 Collected RM2,000 cash in satisfaction of an amount owed by a customer. April 3 Billed RM3,000 to customers for chairs rented...
Littlechild started a new kitchen and bath design business called Littlechild Enterprises. The following activities occurred during its first month of operations, March 2017 a. Littlechild invested $225,000 cash and office equipment valued at $33,000 in the business b. Purchased a small building for $730,000 to be used as an office. Paid $165,000 in cash and signed a note payable promising to pay the balance over several years. c. Purchased $4,300 of office supplies for cash. d. Purchased $85,000 of...
Please read the questions carefully. Please draw the cash flow diagrams and explain the steps that you are going to approach to solve the problems then solve the problem. Show the details in solving the problems. Please write legible hand writing, otherwise there is a deduction from your grade 10 points Missing Cash Flow Diagram is deductible points equal to 10% of the total points for each question. Question - 1 A series of equal semiannual cash flows starts with...
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