Homework Answers
| Jonno Social Club | |||
| Receipts and Payments for the period ending December 31, 2018 | |||
| Receipts | $ | Payments | $ |
| Opening balance | 621,274 | Purchase of office furniture | 178,000 |
| Membership Fees | 2,354,478 | Rent | 600,000 |
| Sale of barbecue tickets | 623,274 | Stationery | 125,000 |
| Refreshments | 454,079 | Electricity | 1,094,573 |
| Other activities | 1,238,595 | Printing | 228,439 |
| Sale of Journals | 2,899,949 | Purchase of Journals | 1,379,053 |
| Cost of barbecue tickets and prizes | 300,073 | ||
| Refreshments | 229,240 | ||
| Stipend paid for accounting work | 449,100 | ||
| Closing Balance | 3,608,171 | ||
| 8,191,649 | 8,191,649 | ||
| Receipts and Payments for the period ending December 31, 2018 | |||
| Expenditure | $ | Income | $ |
| Purchase of office furniture | 178,000 | Membership Fees | 2,354,478 |
| Rent | 600,000 | Sale of barbecue tickets | 623,274 |
| Stationery | 125,000 | Refreshments | 454,079 |
| Electricity | 1,119,573 | Other activities | 1,238,595 |
| Printing | 228,439 | Sale of Journals | 2,899,949 |
| Purchase of Journals | 1,379,053 | ||
| Cost of barbecue tickets and prizes | 300,073 | ||
| Refreshments | 229,240 | ||
| Stipend paid for accounting work | 449,100 | ||
| Rent | 50,000 | ||
| Excess of income over expenditure | 2,911,897 | ||
| 7,570,375 | 7,570,375 | ||
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Question 3 (CLO 2) The following represents information that was extracted from the books of Jonno...
The following trial balance was extracted from the books of G & E Production Company Ltd...
The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...
The following trial balance was extracted from the books of G & E Production Company Ltd...
The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...
Required From the following, taken from the books of Bingo Club, prepare: (a) The income and...
Required From the following, taken from the books of Bingo Club, prepare: (a) The income and expenditure account for the period ended 31 December 2002; (b) The subscriptions account balanced property); and (c) The refreshments account in order to determine the profit or loss to be transferred to the income and expenditure account. Balances at 1 January 2002: 18 570 10 000 16 000 2400 1 400 Accumulated funds Loan from West Bank (15%) Club equipment (cost) Accumulated depreciation on...
The following trial balance was extracted from the books of G & E Production Company Ltd...
The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...
The following trial balance was extracted from the books of G & E Production Company Ltd...
The following trial balance was extracted from the books of G
& E Production Company Ltd on 31 December 2018 and presented to
you the Financial Accountant:
Trial Balance
Details/Accounts
Dr $
Cr $
Purchases of direct raw materials
24,200,000
Stock of direct raw materials 1 January 2018
5,500,000
Wages paid to manufacture goods
12,000,000
Insurance
2,000,000
Electricity
1,450,000
Cash at bank
28,000,000
Accounts payable
3,500,000
Discounts
450,000
500,000
Return of direct raw materials
200,000
Cash in hand
600,000
Work-in-progress...
QUESTION 3 BANK RECONCILIATION (20 MARKS) The information given below was extracted from the accounting records...
QUESTION 3 BANK RECONCILIATION (20 MARKS) The information given below was extracted from the accounting records of Sunrisers Traders. REQUIRED 3.1 Complete the Cash Receipts Journal and Cash Payments Journal of Sunrisers Traders for March 2016. All entries must indicate the correct contra ledger account in the Details column. Cast the Journals. Use the following format: (10) Cash Receipts Journal Details Bank Total Cash Payments Journal Details Bank Total 3.2 Post to the Bank account in the General ledger. Balance...
QUESTION 3 (20 MARKS) ECONCILIATION BANK RECONCI tracted from the aucune The following information was extracted...
QUESTION 3 (20 MARKS) ECONCILIATION BANK RECONCI tracted from the aucune The following information was extracted REQUIRED accounting records of Swanky Traders. 3.1 Prepare the Bank account in the Ledger information below that would have been each entry. Balance the Bank account. Th le Ledger of Swervy Tradera have been made in the cash account. The Cash Journals "Traders for March 2019 showing the entries from the We Cash Journals. Show clearly the contra account for Journals are not required....
On December 31, 2017 the following Trial Balance was extracted from the books of Rosetta Park....
On December 31, 2017 the following Trial Balance was extracted from the books of Rosetta Park. Details/Accounts Dr Cr Capital - 151,350 Acc. Prov. for Depreciation: Fixtures and Fittings Jan. 2017 - 4,500 Acc. Prov. for Depreciation: Motor Vehicle Jan. 2017 - 4,950 Creditors - 40,500 Commission Received - 5,400 Rent Received - 18,000 Sales - 61,500 Purchases 17,400 - Office Expenses 16,000 - Miscellaneous Expenses 1,110 - Salary and Wages 11,700 - Carriage inwards 150 - Telephone Expense 360...
QI. The following trial balance is extracted from the books of B-Strong Bhd: Trial balance as...
QI. The following trial balance is extracted from the books of B-Strong Bhd: Trial balance as at 31 December 2018 RM RM 96,000 100.000 192.000 480,000 24.000 96,000 480,000 576,000 192,000 10,000 216.000 40.000 8% debentures 8% preference shares of RM1/- each Asset revaluation reserve Building (cost) Deferred tax liability Furniture and fittings (cost) Land (revalued) Ordinary shares of RM1/- each Plant and equipment (cost) Research expenses Retained profits b/d Tax paid Accumulated depreciation at 1.1.2018: Building Plant and equipment...
Question 4 The following balances were extracted from the books of Pat Pet Shop on 31...
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Required From the following, taken from the books of Bingo Club, prepare: (a) The income and expenditure account for the period ended 31 December 2002; (b) The subscriptions account balanced property); and (c) The refreshments account in order to determine the profit or loss to be transferred to the income and expenditure account. Balances at 1 January 2002: 18 570 10 000 16 000 2400 1 400 Accumulated funds Loan from West Bank (15%) Club equipment (cost) Accumulated depreciation on...
The following trial balance was extracted from the books of G
& E Production Company Ltd on 31 December 2018 and presented to
you the Financial Accountant:
Trial Balance
Details/Accounts
Dr $
Cr $
Purchases of direct raw materials
24,200,000
Stock of direct raw materials 1 January 2018
5,500,000
Wages paid to manufacture goods
12,000,000
Insurance
2,000,000
Electricity
1,450,000
Cash at bank
28,000,000
Accounts payable
3,500,000
Discounts
450,000
500,000
Return of direct raw materials
200,000
Cash in hand
600,000
Work-in-progress...
QUESTION 3 (20 MARKS) ECONCILIATION BANK RECONCI tracted from the aucune The following information was extracted REQUIRED accounting records of Swanky Traders. 3.1 Prepare the Bank account in the Ledger information below that would have been each entry. Balance the Bank account. Th le Ledger of Swervy Tradera have been made in the cash account. The Cash Journals "Traders for March 2019 showing the entries from the We Cash Journals. Show clearly the contra account for Journals are not required....
QI. The following trial balance is extracted from the books of B-Strong Bhd: Trial balance as at 31 December 2018 RM RM 96,000 100.000 192.000 480,000 24.000 96,000 480,000 576,000 192,000 10,000 216.000 40.000 8% debentures 8% preference shares of RM1/- each Asset revaluation reserve Building (cost) Deferred tax liability Furniture and fittings (cost) Land (revalued) Ordinary shares of RM1/- each Plant and equipment (cost) Research expenses Retained profits b/d Tax paid Accumulated depreciation at 1.1.2018: Building Plant and equipment...
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