Homework Answers
2. Given the following, what is the amount of Capital? Assets: Premises $20,000; Inventory $8,500; Cash...
2. Given the following, what is the amount of Capital? Assets: Premises $20,000; Inventory $8,500; Cash $100. Liabilities: Accounts payable $3,000; Loan from A.Adams $4,000: $21,100 b. $21,600 c. $32,400 d. $21,400 3. A debit balance of $100 in a cash account shows that: There was $100 cash in hand Cash has been overspent by $100 $100 was the total of cash paid out The total of cash received was less than $100 4. Discounts...
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...
can you give the answer and its explanation 5. Amortizing the discounts on bond payable: Reduces...
can you give the answer and its explanation
5. Amortizing the discounts on bond payable: Reduces the annual cash payment for interest. Is necessary only if the bonds were issued at more than face value. Reduces the carrying value of the bond liability. Increases the recorded amount of the interest expense. B. C. D. Tanjong Company bought a factory machine at a cost of RM 18,000 on July 1, 2017. During its useful life, the machine is expected to be...
please help me with all, I will thumb up! 12. What type of account is interest...
please help me with all, I will thumb up!
12. What type of account is interest income? asset revenue expense d. owner's equity 30. 00 13. True-False (A-B) Cash is never used in preparing adjusting entries. 14. Paid a utilities bill immediately on receipt. What effect does this entry have on liabilities? a. increase decrease nc effect cre information is needed b. 15. Gross profit equals the difference between: net sales and cost of goods sold. net sales and cost...
1)Make ledge from September to November 2)Make trial balance from September to November 3)Make income statement...
1)Make ledge from September to November
2)Make trial balance from September to November
3)Make income statement from September to November
4) Make financial position from September to November
Dale Jurnal Descriplion Debil (RM) Credit (RM) 2019 Sept! Cash Capital Slart a business with cash RM 12 150 1 Bank Capital (Bryan deposited RM 50 into business bank account as capital) 15 Purchas Cash (cash purchase) 19 Stationary Cash (hought receipt book with cast) 21 Bank Loon received loan from Bank...
1) Make ledger 2) Make trial balance Jurnal Description Date Debit (RM) Credit (RM) 12 2019...
1) Make ledger
2) Make trial balance
Jurnal Description Date Debit (RM) Credit (RM) 12 2019 Sept I Cash Capital Start a business with cash RM 12 ank 50 Capital (Bryan deposited RM 50 into business bank account as capital) 15 Purchases Cash (cash purchase) 19 Stationary Cash (bought receipt book with cash) 21 Bank Loan received loan from Bank Islam) 25 Cash Sales (sold goods by cash)
The financial result of a business is evident in the ______________. A Statement of Comprehensive Income...
The financial result of a business is evident in the ______________. A Statement of Comprehensive Income B Statement of Financial Position C Statement of Cash Flows D Assets section of the Statement of Financial Position 1.3 _____________ account is not an example of an expense account. A Trading inventory deficit B Interest on loan C Discount allowed D Motor vehicles 1.4 Which one of the following does not match the correct source document to the kind of transaction? A B...
1) Prepare the statement profit or loss for the year ended 31 December 2018 2)Prepare the...
1) Prepare the statement profit or loss for the year
ended 31 December 2018
2)Prepare the financial position as that date.
The following is the trial balance of DRS Trading as at 31 al balance of DRS Trading as at 31 December 2018. Credit (RM) 16,500 34,000 246,290 DRS Trading Trial Balance as at 31 December 2018 Particulars Debit (RM) Cash at bank 18,750 Account Receivable 12,840 Inventory as at 1 January 2018 26,500 Motor vehicles 45,000 Freehold premises 215,000...
1.Prepare Statement of Profit or Loss 2.Prepare Statement of Financial Position. Clearwater Enterprise is a mer...
1.Prepare Statement of Profit or Loss
2.Prepare Statement of Financial Position.
Clearwater Enterprise is a mer Enterprise is a merchandising company which has business operations in Ipoh, The following balances have been extracted from the books as at 31 December 2016. profic or Debit (RM) po 30,000 Credit (RM) Machinery Accumulated depreciation - machinery Income Balon 10,000 Land9800219 STUOTE 2 Building 3d9b Tab 102 zivo1 20 Simon 250,000 120.000 24,000 40,000 22,500 61,400 Accumulated depreciation - building Loan from Ah...
2 Clearwater Enterprise is a merchan Enterprise is a merchandising company which has business operations in...
2 Clearwater Enterprise is a merchan Enterprise is a merchandising company which has business operations in Ipoh, The following balances have been extracted from the books as at 31 December 2016. Debit (RM) Credit (RM) Profic or Los 30,000 Income searr) 110,000 Balon shar 250,000 120.000 24,000 40,000 22,500 Machinery Accumulated depreciation - machinery Land LandD2TONE Building dsb rob tol no zivot 20 Accumulated depreciation - building Loan from Ah Ling (10 years) Bank overdraft Accounts receivable Inventories Sdn Accounts...
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...
can you give the answer and its explanation
5. Amortizing the discounts on bond payable: Reduces the annual cash payment for interest. Is necessary only if the bonds were issued at more than face value. Reduces the carrying value of the bond liability. Increases the recorded amount of the interest expense. B. C. D. Tanjong Company bought a factory machine at a cost of RM 18,000 on July 1, 2017. During its useful life, the machine is expected to be...
please help me with all, I will thumb up!
12. What type of account is interest income? asset revenue expense d. owner's equity 30. 00 13. True-False (A-B) Cash is never used in preparing adjusting entries. 14. Paid a utilities bill immediately on receipt. What effect does this entry have on liabilities? a. increase decrease nc effect cre information is needed b. 15. Gross profit equals the difference between: net sales and cost of goods sold. net sales and cost...
1)Make ledge from September to November
2)Make trial balance from September to November
3)Make income statement from September to November
4) Make financial position from September to November
Dale Jurnal Descriplion Debil (RM) Credit (RM) 2019 Sept! Cash Capital Slart a business with cash RM 12 150 1 Bank Capital (Bryan deposited RM 50 into business bank account as capital) 15 Purchas Cash (cash purchase) 19 Stationary Cash (hought receipt book with cast) 21 Bank Loon received loan from Bank...
1) Make ledger
2) Make trial balance
Jurnal Description Date Debit (RM) Credit (RM) 12 2019 Sept I Cash Capital Start a business with cash RM 12 ank 50 Capital (Bryan deposited RM 50 into business bank account as capital) 15 Purchases Cash (cash purchase) 19 Stationary Cash (bought receipt book with cash) 21 Bank Loan received loan from Bank Islam) 25 Cash Sales (sold goods by cash)
1) Prepare the statement profit or loss for the year
ended 31 December 2018
2)Prepare the financial position as that date.
The following is the trial balance of DRS Trading as at 31 al balance of DRS Trading as at 31 December 2018. Credit (RM) 16,500 34,000 246,290 DRS Trading Trial Balance as at 31 December 2018 Particulars Debit (RM) Cash at bank 18,750 Account Receivable 12,840 Inventory as at 1 January 2018 26,500 Motor vehicles 45,000 Freehold premises 215,000...
1.Prepare Statement of Profit or Loss
2.Prepare Statement of Financial Position.
Clearwater Enterprise is a mer Enterprise is a merchandising company which has business operations in Ipoh, The following balances have been extracted from the books as at 31 December 2016. profic or Debit (RM) po 30,000 Credit (RM) Machinery Accumulated depreciation - machinery Income Balon 10,000 Land9800219 STUOTE 2 Building 3d9b Tab 102 zivo1 20 Simon 250,000 120.000 24,000 40,000 22,500 61,400 Accumulated depreciation - building Loan from Ah...
2 Clearwater Enterprise is a merchan Enterprise is a merchandising company which has business operations in Ipoh, The following balances have been extracted from the books as at 31 December 2016. Debit (RM) Credit (RM) Profic or Los 30,000 Income searr) 110,000 Balon shar 250,000 120.000 24,000 40,000 22,500 Machinery Accumulated depreciation - machinery Land LandD2TONE Building dsb rob tol no zivot 20 Accumulated depreciation - building Loan from Ah Ling (10 years) Bank overdraft Accounts receivable Inventories Sdn Accounts...
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