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The 30 April bank reconciliation of M Co was prepared using the information below: Outstanding deposit...
Transactions June 1 The owner opened a bank account for the business with a deposit of...
Transactions
June
1
The owner opened a bank account for the business with a deposit
of $20,000. This is capital provided by him.
1
Purchased display stands, shelving etc. (shop equipment) from
Shop Displays Pty Ltd for $26,100 and computer equipment for the
shop from Computer Wizards for $4,800. These were paid for with a
loan of $26,000 from the bank and cheque for $4,900 from the
business bank account. The bank loan is repayable over 4
years.
1
Paid...
as soon as possible thx so much 0.023 In doing the bank reconciliation your book balance...
as soon as possible
thx so much
0.023 In doing the bank reconciliation your book balance is higher than your bank balance. This could be due to you not having: Select one: a. Recorded a direct debit in your accounts b. A direct credit for interest in your accounts c. Recorded un-presented cheques in the reconciliation d. A cheque being recorded for $552 in the books whereas it was actually written for $525 0.027 A cheque is written to replenish...
QUESTION 5 REQUIRED Use the following information provided by Harvard Enterprises to prepare the: 5.1 Debtors...
QUESTION 5 REQUIRED Use the following information provided by Harvard Enterprises to prepare the: 5.1 Debtors Collection Schedule for March and April 2021. 5.2 Cash Budget for March and April 2021. Note: Where applicable, round off amounts to the nearest Rand. Use separate monetary columns for each month. 1. INFORMATION The following figures are estimated for 2021: January February March April Cash sales Credit sales Purchases Sales commission Wages 255 000 144 000 210 000 1 800 8 400 240...
Belos LLC's May Bank reconciliation and a partial chart of accounts is provided below. Prepare the...
Belos LLC's May Bank reconciliation and a partial chart of accounts is provided below. Prepare the adjusting journal entries in the space provided that Belos LLC's accountant/bookkeeper will need to record in their accounting records to adjust the cash balance after the May bank reconciliation has been prepared. (Do not abbreviate when writing journal entries.) Belos, LLC Bank Reconciliation May 31st Bank Balance Book Balance $ 18,658 $ 18,954 Add: Interest Earned Add: DIT 47 1,785 Deduct: Deduct: Service Charge...
Additional data for the bank reconciliation follow (Click the icon to view the additional information.) The...
Additional data for the bank reconciliation follow (Click the icon to view the additional information.) The December cash records of Devin Insurance follow: (Click the icon to view the checkbook.) Devin's Cash account shows a balance of $17,440 at December 31. On December 31, Devin Insurance received the following bank statement: (Click the icon to view the December bank statement.) Read the requirements. Requirement 1. Prepare the bank reconciliation of Devin Insurance at December 31, 2018. Prepare the bank portion...
The trial balance for Pro Diver is shown below. Question 1 The trial balance for Pro Diver is shown below Pro Diver Trial Balance as at 30 June 20XX Account Number Account Debit Credit 100...
The trial balance for Pro Diver is shown below.
Question 1 The trial balance for Pro Diver is shown below Pro Diver Trial Balance as at 30 June 20XX Account Number Account Debit Credit 100 105 Petty Cash 110Accounts Receivable 120 Prepaid Insurance 130 Prepai Rates and Taxes 140 GST Paid (Outlays) 160 Buildings and Improvements (Cost) Bank Account 7,223.47 200.00 7,552.00 381.25 164.75 2,503.11 350,000.00 Accumulated Depreciation - Bldgs and Improvements 43,750.00 170 Hire Equipment (Cost) 171 Accumulated Depreciation...
6. Following is the trial balance of Pure Gold Enterprise as at 30 June 20x7 Debit...
6. Following is the trial balance of Pure Gold Enterprise as at 30 June 20x7 Debit Credit RM Sales Purchases Sales returns Purchase returns Beginning Inventory Provision for bad debts Wages and salaries Insurance Expense Telephone charges Equipment at cost Van Debtors and creditors Bad debts Capital Bank Drawings 400,000 350,000 5,000 6,200 100,000 800 30,000 6,000 1,000 40,000 30,000 9,800 200 7,000 179,000 3,000 18,000 593,000 593,000 Additional Information: 1. Inventory as at 30 June 20X7 was RM120, 000....
Skate 'n' Surf Statement of profit or loss for the period 1 June to 30 June...
Skate 'n'
Surf
Statement of profit or loss
for the period 1 June to 30 June 20XX
Revenue
Sales revenue
Sales revenue
26,820
Less: Sales returns and allowances
320
Net sales
revenue
26,500
Less: Cost of sales
14,980
Gross
profit
11,520
Other revenue:
Discount received
2,300
13,820
Expenses
Advertising expense
1,170
Depreciation expense
450
Discount allowed
280
Insurance expense
320
Interest expense
160
Postage and stationery expense
150
Superannuation exepnse
95
Wages expense
1,000
Total
expenses
3,625
Net
profit/(loss)...
write in a table 6. Following is the trial balance of Pure Gold Enterprise as at...
write in a table
6. Following is the trial balance of Pure Gold Enterprise as at 30 June 20X7: Debit RM Credit Sales Purchases Sales returns Purchase returns Beginning Inventory Provision for bad debts Wages and salaries Insurance Expense Telephone charges Equipment at cost Van Debtors and creditors Bad debts Capital Bank Drawings 400,000 350,000 5,000 6,200 100,000 800 . 30,000 6,000 1,000 40,000 30,000 9,800 200 7,000 179,000 3,000 18,000 593,000 593,000 Additional Information: 1. Inventory as at 30...
Please answer for the last photo: Prepare an unadjusted trial balance. Remember debits must equal credits....
Please answer for the last photo:
Prepare an unadjusted trial balance. Remember debits
must equal credits.
Case Study Full Accounting Cycle Melissa Days and Kelly Harbor formed the Corporation Sports R Us. They sell sporting goods and give lessons. They have hired you to update their transactions for the business. They have provided you with the opening balances and a list of transactions for the month of June. The company's Chart of Accounts is also included as shown below. The...
Transactions
June
1
The owner opened a bank account for the business with a deposit
of $20,000. This is capital provided by him.
1
Purchased display stands, shelving etc. (shop equipment) from
Shop Displays Pty Ltd for $26,100 and computer equipment for the
shop from Computer Wizards for $4,800. These were paid for with a
loan of $26,000 from the bank and cheque for $4,900 from the
business bank account. The bank loan is repayable over 4
years.
1
Paid...
as soon as possible
thx so much
0.023 In doing the bank reconciliation your book balance is higher than your bank balance. This could be due to you not having: Select one: a. Recorded a direct debit in your accounts b. A direct credit for interest in your accounts c. Recorded un-presented cheques in the reconciliation d. A cheque being recorded for $552 in the books whereas it was actually written for $525 0.027 A cheque is written to replenish...
QUESTION 5 REQUIRED Use the following information provided by Harvard Enterprises to prepare the: 5.1 Debtors Collection Schedule for March and April 2021. 5.2 Cash Budget for March and April 2021. Note: Where applicable, round off amounts to the nearest Rand. Use separate monetary columns for each month. 1. INFORMATION The following figures are estimated for 2021: January February March April Cash sales Credit sales Purchases Sales commission Wages 255 000 144 000 210 000 1 800 8 400 240...
Belos LLC's May Bank reconciliation and a partial chart of accounts is provided below. Prepare the adjusting journal entries in the space provided that Belos LLC's accountant/bookkeeper will need to record in their accounting records to adjust the cash balance after the May bank reconciliation has been prepared. (Do not abbreviate when writing journal entries.) Belos, LLC Bank Reconciliation May 31st Bank Balance Book Balance $ 18,658 $ 18,954 Add: Interest Earned Add: DIT 47 1,785 Deduct: Deduct: Service Charge...
Additional data for the bank reconciliation follow (Click the icon to view the additional information.) The December cash records of Devin Insurance follow: (Click the icon to view the checkbook.) Devin's Cash account shows a balance of $17,440 at December 31. On December 31, Devin Insurance received the following bank statement: (Click the icon to view the December bank statement.) Read the requirements. Requirement 1. Prepare the bank reconciliation of Devin Insurance at December 31, 2018. Prepare the bank portion...
The trial balance for Pro Diver is shown below.
Question 1 The trial balance for Pro Diver is shown below Pro Diver Trial Balance as at 30 June 20XX Account Number Account Debit Credit 100 105 Petty Cash 110Accounts Receivable 120 Prepaid Insurance 130 Prepai Rates and Taxes 140 GST Paid (Outlays) 160 Buildings and Improvements (Cost) Bank Account 7,223.47 200.00 7,552.00 381.25 164.75 2,503.11 350,000.00 Accumulated Depreciation - Bldgs and Improvements 43,750.00 170 Hire Equipment (Cost) 171 Accumulated Depreciation...
6. Following is the trial balance of Pure Gold Enterprise as at 30 June 20x7 Debit Credit RM Sales Purchases Sales returns Purchase returns Beginning Inventory Provision for bad debts Wages and salaries Insurance Expense Telephone charges Equipment at cost Van Debtors and creditors Bad debts Capital Bank Drawings 400,000 350,000 5,000 6,200 100,000 800 30,000 6,000 1,000 40,000 30,000 9,800 200 7,000 179,000 3,000 18,000 593,000 593,000 Additional Information: 1. Inventory as at 30 June 20X7 was RM120, 000....
Skate 'n'
Surf
Statement of profit or loss
for the period 1 June to 30 June 20XX
Revenue
Sales revenue
Sales revenue
26,820
Less: Sales returns and allowances
320
Net sales
revenue
26,500
Less: Cost of sales
14,980
Gross
profit
11,520
Other revenue:
Discount received
2,300
13,820
Expenses
Advertising expense
1,170
Depreciation expense
450
Discount allowed
280
Insurance expense
320
Interest expense
160
Postage and stationery expense
150
Superannuation exepnse
95
Wages expense
1,000
Total
expenses
3,625
Net
profit/(loss)...
write in a table
6. Following is the trial balance of Pure Gold Enterprise as at 30 June 20X7: Debit RM Credit Sales Purchases Sales returns Purchase returns Beginning Inventory Provision for bad debts Wages and salaries Insurance Expense Telephone charges Equipment at cost Van Debtors and creditors Bad debts Capital Bank Drawings 400,000 350,000 5,000 6,200 100,000 800 . 30,000 6,000 1,000 40,000 30,000 9,800 200 7,000 179,000 3,000 18,000 593,000 593,000 Additional Information: 1. Inventory as at 30...
Please answer for the last photo:
Prepare an unadjusted trial balance. Remember debits
must equal credits.
Case Study Full Accounting Cycle Melissa Days and Kelly Harbor formed the Corporation Sports R Us. They sell sporting goods and give lessons. They have hired you to update their transactions for the business. They have provided you with the opening balances and a list of transactions for the month of June. The company's Chart of Accounts is also included as shown below. The...
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