Please note that Question a is ''by adopting the function of expense or “cost of sales” method in accordance with MFRS 101 Presentation of Financial Statements'' :
Homework Answers
As the bonds are 6% bonds it is assumed interest is accrued for the half year
An amount of 2000 is reversed for reducing allowance of bad debts with the following entry
Provision for Bad debts a/c.... Dr. 2000
To Bad debts a/c. 2000
Add Answer to:
Please note that Question a is ''by adopting the
function of expense or “cost of sales”...
Question 4 Below was extract from the books of Piko Sdn Bhd for the year ended...
Question 4 Below was extract from the books of Piko Sdn Bhd for the year ended 31 December 2019. RM Retained profit 31 December 2018 158,000 Inventory 1 January 2019 39,000 Purchases 550,000 Sales 1,292,000 Share capital 120,000 Distribution expenses 116,000 241,000 23,500 400,000 Administration expenses Bad debts 6% bonds (redeemable in Year 2021) Trade receivables Trade payables Allowance for doubtful debts Interest paid on bonds 200,000 73,500 6,000 12,000 Bank 58,000 105,000 Dividends paid Plant and machinery at cost...
Dear Expert, If possible, please do in Excel format. Thanks a lot Question 4 Below was...
Dear Expert, If possible, please do in Excel format. Thanks a
lot
Question 4 Below was extract from the books of Piko Sdn Bhd for the year ended 31 December 2019. RM 158,000 Retained profit 31 December 2018 Inventory 1 January 2019 Purchases 39,000 550,000 1,292,000 Sales Share capital 120,000 116,000 241,000 23,500 400,000 Distribution expenses Administration expenses Bad debts 6% bonds (redeemable in Year 2021) Trade receivables Trade payables Allowance for doubtful debts Interest paid on bonds Bank 200,000...
Question 4 The following balances were extracted from the books of Sawadee Sdn Bhd for the...
Question 4 The following balances were extracted from the books of Sawadee Sdn Bhd for the year ended 31 December 2019. Retained profit 31 December 2018 Inventory 1 January 2019 Purchases Sales Return inwards Return outwards Carriage inwards Discount received for purchases Directors' remuneration Distribution expenses Administrative expenses Rental income (Commercial shop lot) Debenture interest Interest received on fixed deposit Commission receivable Interim ordinary shares dividends Motor vehicles at cost - Distribution Administration Plant and machinery at cost Wages -...
This is BBM206/05 Business Accounting II subject Need 1 full-page answer, please Question 4 The following...
This is BBM206/05 Business Accounting
II subject
Need 1 full-page answer, please
Question 4 The following balances were extracted from the books of Sawadee Sdn Bhd for the year ended 31 December 2019. Retained profit 31 December 2018 Inventory 1 January 2019 Purchases Sales Return inwards Return outwards Carriage inwards Discount received for purchases Directors' remuneration Distribution expenses Administrative expenses Rental income (Commercial shop lot) Debenture interest Interest received on fixed deposit Commission receivable Interim ordinary shares dividends Motor vehicles...
Question 19.2 Warwick Ltd Trial Balance as at 31 December 2013 Dr 2,800,000 1,500,000 620,000 224,000...
Question 19.2 Warwick Ltd Trial Balance as at 31 December 2013 Dr 2,800,000 1,500,000 620,000 224,000 450,000 186,000 6,105,800 3,160,400 280,100 135,000 Buildings - Cost Machinery - Cost Motor Vehicles - Cost Accumulated Depreciation as ar 31 December 2012: Buildings Machinery Motor Vehicles Revenue Purchases Inventory as at 1 January 2013 Purchases returns Sales returns Manufacturing wages Administration costs Administration wages Auditors fee Directors fees Motor Expenses Bad Debts Allowance for bad debts Finance cost Ordinary Share Capital El each...
How do I get the answer to note (b)? This is for question 5: Faraway Retailers...
How
do I get the answer to note (b)?
This is for question 5: Faraway Retailers
Adjustments a Non-current assets are to be depreciated at the rate of 20 per cent per annum on a reducing balance basis. b Closing inventory amounted to £18,900. c Business expenses of £2,735 have been incurred but not yet recorded. d A provision for bad debts amounting to 10 per cent of receivables is to be created. Prepare an income statement and an appropriation...
Based on the information below, calculate the bad debt expense for the year? On 1 July...
Based on the information below, calculate the bad debt expense for the year? On 1 July 2018, Morton Limited had an accounts receivable balance of $155,000 and an allowance for doubtful debts balance of $6,100. During the year ended 30 June 2019, credit sales amounted to $875,500 and cash collected from customers was $817,900. At the end of the financial year, the credit manager decided that accounts totalling $12,200 should be written off as bad debts and the allowance for...
Calculate a trading and loss account PLEASE TURN OVER Hows Question 20 20 Marks The trial...
Calculate a trading and loss account
PLEASE TURN OVER Hows Question 20 20 Marks The trial balance extracted from the books of Tailor Times Ltd at 31 December 2003 was as Follows: Share capital 200,000 27.500 Profit and loss account 31 December 2002 Freehold premises at cost Provision for depreciation on freehold premises at 31 December 2002 $4,000 Machinery at cost (84,000 Provision for depreciation on machinery account as at 31 December 2002 21,000 Purchases 563,700 Sales 925,300 General expenses...
a, a statement of profit or loss and other comprehensive income for the year ended 31...
a, a statement of profit or loss and other comprehensive income
for the year ended 31 October 2019.
b.statement of financial position
Dr. s 1,476,948 4.349,474 66,554 18,600 --- - Purchases . Sales ... Returns inwards Returns outwards Insurance Wages and salaries --- Electricity Telephone charges Rent and rates Carriage Debenture interest paid Advertising expenses Trade receivables Trade pavables Discount received Cash at bank Allowance for doubtful debts, at 1 November 2018 Machinery, at cost Motor vehicles, at cost Accumulated...
Question 1: Trade Receivable RM 690,500 Allowance for doubtful Debt RM 69,050 Bad Debt Expense RM 34,525 Additional Information: a) Sales on account of RM 7,980,000 b) Sales return and allowance RM 15...
Question 1: Trade Receivable RM 690,500 Allowance for doubtful Debt RM 69,050 Bad Debt Expense RM 34,525 Additional Information: a) Sales on account of RM 7,980,000 b) Sales return and allowance RM 150,000 c) Collections of trade receivable of RM 5,520,000 d) The estimated bad debts expense is 5% or trade receivable Record 1. Journalize all transactions for year 2019. Question 2 Computer Software RM 1,170,500 Amortization expense-Computer Software RM 156,060 Additional Information: a) The company uses straight line amortization...
Question 4 Below was extract from the books of Piko Sdn Bhd for the year ended 31 December 2019. RM Retained profit 31 December 2018 158,000 Inventory 1 January 2019 39,000 Purchases 550,000 Sales 1,292,000 Share capital 120,000 Distribution expenses 116,000 241,000 23,500 400,000 Administration expenses Bad debts 6% bonds (redeemable in Year 2021) Trade receivables Trade payables Allowance for doubtful debts Interest paid on bonds 200,000 73,500 6,000 12,000 Bank 58,000 105,000 Dividends paid Plant and machinery at cost...
Dear Expert, If possible, please do in Excel format. Thanks a
lot
Question 4 Below was extract from the books of Piko Sdn Bhd for the year ended 31 December 2019. RM 158,000 Retained profit 31 December 2018 Inventory 1 January 2019 Purchases 39,000 550,000 1,292,000 Sales Share capital 120,000 116,000 241,000 23,500 400,000 Distribution expenses Administration expenses Bad debts 6% bonds (redeemable in Year 2021) Trade receivables Trade payables Allowance for doubtful debts Interest paid on bonds Bank 200,000...
Question 4 The following balances were extracted from the books of Sawadee Sdn Bhd for the year ended 31 December 2019. Retained profit 31 December 2018 Inventory 1 January 2019 Purchases Sales Return inwards Return outwards Carriage inwards Discount received for purchases Directors' remuneration Distribution expenses Administrative expenses Rental income (Commercial shop lot) Debenture interest Interest received on fixed deposit Commission receivable Interim ordinary shares dividends Motor vehicles at cost - Distribution Administration Plant and machinery at cost Wages -...
This is BBM206/05 Business Accounting
II subject
Need 1 full-page answer, please
Question 4 The following balances were extracted from the books of Sawadee Sdn Bhd for the year ended 31 December 2019. Retained profit 31 December 2018 Inventory 1 January 2019 Purchases Sales Return inwards Return outwards Carriage inwards Discount received for purchases Directors' remuneration Distribution expenses Administrative expenses Rental income (Commercial shop lot) Debenture interest Interest received on fixed deposit Commission receivable Interim ordinary shares dividends Motor vehicles...
Question 19.2 Warwick Ltd Trial Balance as at 31 December 2013 Dr 2,800,000 1,500,000 620,000 224,000 450,000 186,000 6,105,800 3,160,400 280,100 135,000 Buildings - Cost Machinery - Cost Motor Vehicles - Cost Accumulated Depreciation as ar 31 December 2012: Buildings Machinery Motor Vehicles Revenue Purchases Inventory as at 1 January 2013 Purchases returns Sales returns Manufacturing wages Administration costs Administration wages Auditors fee Directors fees Motor Expenses Bad Debts Allowance for bad debts Finance cost Ordinary Share Capital El each...
How
do I get the answer to note (b)?
This is for question 5: Faraway Retailers
Adjustments a Non-current assets are to be depreciated at the rate of 20 per cent per annum on a reducing balance basis. b Closing inventory amounted to £18,900. c Business expenses of £2,735 have been incurred but not yet recorded. d A provision for bad debts amounting to 10 per cent of receivables is to be created. Prepare an income statement and an appropriation...
Based on the information below, calculate the bad debt expense for the year? On 1 July 2018, Morton Limited had an accounts receivable balance of $155,000 and an allowance for doubtful debts balance of $6,100. During the year ended 30 June 2019, credit sales amounted to $875,500 and cash collected from customers was $817,900. At the end of the financial year, the credit manager decided that accounts totalling $12,200 should be written off as bad debts and the allowance for...
Calculate a trading and loss account
PLEASE TURN OVER Hows Question 20 20 Marks The trial balance extracted from the books of Tailor Times Ltd at 31 December 2003 was as Follows: Share capital 200,000 27.500 Profit and loss account 31 December 2002 Freehold premises at cost Provision for depreciation on freehold premises at 31 December 2002 $4,000 Machinery at cost (84,000 Provision for depreciation on machinery account as at 31 December 2002 21,000 Purchases 563,700 Sales 925,300 General expenses...
a, a statement of profit or loss and other comprehensive income
for the year ended 31 October 2019.
b.statement of financial position
Dr. s 1,476,948 4.349,474 66,554 18,600 --- - Purchases . Sales ... Returns inwards Returns outwards Insurance Wages and salaries --- Electricity Telephone charges Rent and rates Carriage Debenture interest paid Advertising expenses Trade receivables Trade pavables Discount received Cash at bank Allowance for doubtful debts, at 1 November 2018 Machinery, at cost Motor vehicles, at cost Accumulated...
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