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Celestial Enterprise General Ledger April 2020
QUESTION TWO [20] The following information was extracted from the...
QUESTION 2 CREDITORS CONTROL (20 MARKS) The information given below was extracted from the records of...
QUESTION 2 CREDITORS CONTROL (20 MARKS) The information given below was extracted from the records of Sprit Traders for May 2019. REQUIRED 2.1 (11) Prepare the correct Creditors Control account for May 2019. Balance the account. 2.2 (9) Prepare the correct Creditors List as at 31 May 2019. INFORMATION R128 250 Credit balance in the Creditors control account on 01 May 2019 Transactions during May 2019 (excluding the additional information below) Merchandise purchased on credit 330 300 Cheques issued to...
QUESTION QUESTION 2 CREDITORS CONTROL (20 MARKS) The folle REQS Pro 3.1 22 The information given...
QUESTION QUESTION 2 CREDITORS CONTROL (20 MARKS) The folle REQS Pro 3.1 22 The information given below was extracted from the records of Sprit Traders for May 2019. REQUIRED Prepare the correct Creditors Control account for May 2019. Balance the account. (11) Prepare the correct Creditors List as at 31 May 2019. (9) INFORMATION Credit balance in the Creditors control account on 01 May 2019 R128 250 Transactions during May 2019 (excluding the additional information below) Merchandise purchased on credit...
QUESTION FIVE The following information was obtained from the financial records of J Moody. The information...
QUESTION FIVE The following information was obtained from the financial records of J Moody. The information is in respect of month ended 31 May 2020. R The following are totals extracted from the relevant journals for the month ended 31 May 2020: Sales journal (Trade receivables column). 41 000 Cash receipts journal: Trade receivables column 34 720 Settlement discount granted column 2 940 Sales returns journal (Trade receivables column). 3 280 Purchases journal (Trade payables column). 26 840 Purchases returns...
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....
QUESTION 3 BANK RECONCILIATION (20 MARKS) a t was extracted from the accounting records of Swanky...
QUESTION 3 BANK RECONCILIATION (20 MARKS) a t was extracted from the accounting records of Swanky Traders 3.1 Ota ALE The following information was extracted from the ac REQUIRED Prepare the Bank account in the Ledger of Swanky information below that would have been made each entry. Balance the Bank account in te Ledger of Swanky Traders for March 2013 showing the entries from the at would have been made in the Cash Journals. Show clearly the contra account for...
QUESTION 3 The Income Statement of Adom Enterprise for the year ended 31" March, 2020 as...
QUESTION 3 The Income Statement of Adom Enterprise for the year ended 31" March, 2020 as prepared by an Accounts Assistant indicated a net profit of GHS 148,080. Though, the cash book on 31" March, 2020 showed a balance at bank to be GHS 13,460. Your attention is however drawn to the following: Cheques from customers totalling GHS 14,940 which were recorded in the cash book on March 25, 2020 were not credited by the bank until April 2, 2020....
(20) QUESTION 3 The trial balance, adjustments and additional information given below were extracted from the...
(20) QUESTION 3 The trial balance, adjustments and additional information given below were extracted from the accounting records of Mkhize Traders on 28 February 2017, the end of the financial year. FINANCIAL STATEMENTS REQUIRED Prepare the Statement of Financial Position of Mkhize Traders as at 28 February 2017. The notes to the financial statements are not required. Where applicable, show calculations in brackets. INFORMATION CONCHA TRADERS PRE-ADJUSTMENT TRIAL BALANCE ON 28 FEBRUARY 2017 Credit (R) Debit (R) Balance sheet accounts...
Question 4 of 4 < Presented below are the balances from Zoë Developments Ltd's general ledger...
Question 4 of 4 < Presented below are the balances from Zoë Developments Ltd's general ledger as at January 31, 2020: CR DR 60,000 132,000 121,000 3,000 355,000 Cash Accounts receivable Inventory Prepaid expenses Equipment Accumulated depreciation, equipment Accounts payable Unearned revenue Wages payable Common shares Retained earnings Dividends declared Sales revenue Interest revenue Cost of goods sold Depreciation expense Wages expense Utilities expense Insurance expense 160,000 31,000 5,000 13,000 103,000 89,000 16,000 885,500 16,500 540,000 8,000 44,000 12,000 12,000...
Record the following transactions in the appropriate journals from April 23-30. Thanks in advance! 4. Prepare...
Record the following transactions in the appropriate
journals from April 23-30.
Thanks in advance!
4. Prepare an income statement, a statement of owner's equity, and a balance sheet. 5. Journalize the adjusting entries and post to the general ledger. 6. Journalize the closing entries on page 7 of the general journal. Post to the general ledger, indicating closed accounts by inserting a horizontal line in both balance columns. 7. Prepare a post-closing trial balance. GENERAL LEDGER SOFTWARE INSTRUCTIONS Carefully read...
The following trial balance and additional information were extracted from the accounting records of Lancet Traders...
The following trial balance and additional information were extracted from the accounting records of Lancet Traders on 28 February 2018, the end of the financial year. REQUIRED Prepare the Statement of Comprehensive Income of Lancet Traders for the year ended 28 February 2018 from the information provided below. Use the following format: Sales Cost of sales Gross profit Other operating income Gross operating income Operating expenses Operating profit Interest income Interest expense Net profit for the year INFORMATION LANCET TRADERS...
QUESTION 2 CREDITORS CONTROL (20 MARKS) The information given below was extracted from the records of Sprit Traders for May 2019. REQUIRED 2.1 (11) Prepare the correct Creditors Control account for May 2019. Balance the account. 2.2 (9) Prepare the correct Creditors List as at 31 May 2019. INFORMATION R128 250 Credit balance in the Creditors control account on 01 May 2019 Transactions during May 2019 (excluding the additional information below) Merchandise purchased on credit 330 300 Cheques issued to...
QUESTION QUESTION 2 CREDITORS CONTROL (20 MARKS) The folle REQS Pro 3.1 22 The information given below was extracted from the records of Sprit Traders for May 2019. REQUIRED Prepare the correct Creditors Control account for May 2019. Balance the account. (11) Prepare the correct Creditors List as at 31 May 2019. (9) INFORMATION Credit balance in the Creditors control account on 01 May 2019 R128 250 Transactions during May 2019 (excluding the additional information below) Merchandise purchased on credit...
QUESTION FIVE The following information was obtained from the financial records of J Moody. The information is in respect of month ended 31 May 2020. R The following are totals extracted from the relevant journals for the month ended 31 May 2020: Sales journal (Trade receivables column). 41 000 Cash receipts journal: Trade receivables column 34 720 Settlement discount granted column 2 940 Sales returns journal (Trade receivables column). 3 280 Purchases journal (Trade payables column). 26 840 Purchases returns...
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....
QUESTION 3 BANK RECONCILIATION (20 MARKS) a t was extracted from the accounting records of Swanky Traders 3.1 Ota ALE The following information was extracted from the ac REQUIRED Prepare the Bank account in the Ledger of Swanky information below that would have been made each entry. Balance the Bank account in te Ledger of Swanky Traders for March 2013 showing the entries from the at would have been made in the Cash Journals. Show clearly the contra account for...
QUESTION 3 The Income Statement of Adom Enterprise for the year ended 31" March, 2020 as prepared by an Accounts Assistant indicated a net profit of GHS 148,080. Though, the cash book on 31" March, 2020 showed a balance at bank to be GHS 13,460. Your attention is however drawn to the following: Cheques from customers totalling GHS 14,940 which were recorded in the cash book on March 25, 2020 were not credited by the bank until April 2, 2020....
(20) QUESTION 3 The trial balance, adjustments and additional information given below were extracted from the accounting records of Mkhize Traders on 28 February 2017, the end of the financial year. FINANCIAL STATEMENTS REQUIRED Prepare the Statement of Financial Position of Mkhize Traders as at 28 February 2017. The notes to the financial statements are not required. Where applicable, show calculations in brackets. INFORMATION CONCHA TRADERS PRE-ADJUSTMENT TRIAL BALANCE ON 28 FEBRUARY 2017 Credit (R) Debit (R) Balance sheet accounts...
Question 4 of 4 < Presented below are the balances from Zoë Developments Ltd's general ledger as at January 31, 2020: CR DR 60,000 132,000 121,000 3,000 355,000 Cash Accounts receivable Inventory Prepaid expenses Equipment Accumulated depreciation, equipment Accounts payable Unearned revenue Wages payable Common shares Retained earnings Dividends declared Sales revenue Interest revenue Cost of goods sold Depreciation expense Wages expense Utilities expense Insurance expense 160,000 31,000 5,000 13,000 103,000 89,000 16,000 885,500 16,500 540,000 8,000 44,000 12,000 12,000...
Record the following transactions in the appropriate
journals from April 23-30.
Thanks in advance!
4. Prepare an income statement, a statement of owner's equity, and a balance sheet. 5. Journalize the adjusting entries and post to the general ledger. 6. Journalize the closing entries on page 7 of the general journal. Post to the general ledger, indicating closed accounts by inserting a horizontal line in both balance columns. 7. Prepare a post-closing trial balance. GENERAL LEDGER SOFTWARE INSTRUCTIONS Carefully read...
The following trial balance and additional information were extracted from the accounting records of Lancet Traders on 28 February 2018, the end of the financial year. REQUIRED Prepare the Statement of Comprehensive Income of Lancet Traders for the year ended 28 February 2018 from the information provided below. Use the following format: Sales Cost of sales Gross profit Other operating income Gross operating income Operating expenses Operating profit Interest income Interest expense Net profit for the year INFORMATION LANCET TRADERS...
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