Homework Answers
| Computation of capital contribution | |
| Cash | 4500 |
| inventory | 3300 |
| Delivery van | 20000 |
| Land and building | 180000 |
| Less : Loan from agro bank | -120000 |
| Capital contribution | 87800 |
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On 1st July 2018, Ali Baba decided to open up a sole proprietorship with the following...
1. On 1st July 2018, Ali Baba decided to open up a sole proprietorship with the...
1. On 1st July 2018, Ali Baba decided to open up a sole proprietorship with the following items, Cash RM4900; Inventories RM3500: Delivery van RM20,000: Land and Building RM200000 Loan from Agrobank by the business RM110000. What was the amount of capital that Ali was putting into the business? Format: 834600 Format: 75300 Ali's total equity in the business is 2. Mehmeh Sdn Bhd reports the following assets and liabilitie Bank = 65500, Accounts Payable - 23700, Buildings - 15000,...
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this is for an advanced tax accounting course Required information The following information applies to the...
this is for an advanced tax accounting course
Required information The following information applies to the questions displayed below WAR (We Are Richj has been in business since 1985 WAR is an accrual method sole proprietorship that deals in the manufacturing and wholesaling of various types of golf equipment Hack & Hack CPAs has filed accurate tax returns for WAR's owner since WAR opened its doors. The managing partner of Hack & Hack (Jack) has gotten along very well with...
As a recently hired accountant for a small business, SMC, Inc., you are provided with last...
As a recently hired
accountant for a small business, SMC, Inc., you are provided with
last year’s balance sheet, income statement, and post-closing trial
balance to familiarize yourself with the business.
View:
Course Project Financial Reporting I - Spring 2020.pdf
You are also given the
following information that summarizes the business activity for the
current year,2019
a.
Issued 10,000 additional shares of common stock for $25,000
cash on January 1st.
b.
Borrowed $10,000 on March 1,
2019, from Downtown Bank...
*Specifically looking for help with t-accounts and question 4, thank you!!* As a recently hired accountant...
*Specifically looking for help with t-accounts and
question 4, thank you!!*
As a recently hired accountant for a small business, SMC, Inc.,
you are provided with last year’s balance sheet, income statement,
and post-closing trial balance to familiarize yourself with the
business.
You are also given the following information that summarizes the
business activity for the current year,2018
a.
Issued 10,000 additional shares of common stock for $25,000
cash on January 1st.
b.
Borrowed $10,000 on March 1, 2018, from...
Tony and Jeannie Nelson are married and file a joint return. They have four children whose...
Tony and Jeannie Nelson are married and file a joint return. They have four children whose ages are: 12,15,19 & 23. The three youngest live at home with their parents and qualify as their dependents. The oldest Roger got married on 5/5 2019 and lives with his wife, Jane. The 19-year old Tabitha is studying Fine Arts at Savannah College of Art & Design. During the summer she helps her mother put together the art exhibits. They provide you with...
1. On 1st July 2018, Ali Baba decided to open up a sole proprietorship with the following items, Cash RM4900; Inventories RM3500: Delivery van RM20,000: Land and Building RM200000 Loan from Agrobank by the business RM110000. What was the amount of capital that Ali was putting into the business? Format: 834600 Format: 75300 Ali's total equity in the business is 2. Mehmeh Sdn Bhd reports the following assets and liabilitie Bank = 65500, Accounts Payable - 23700, Buildings - 15000,...
Exercise 2: Case study: Ivor Shop (40 points) Ivor Shop is proposing to open a shop on 1 July 2019 to sell me shop on 1 July 2019 to sell micro-computers and associated softwa He has $10,000 in his bank account for opening capital is obtaining the shop premises on a lease and the rent will be $8,000 per annum arterly in advance in July, October.January hi. No premium is being paid for the least funt will have to pay...
this is for an advanced tax accounting course
Required information The following information applies to the questions displayed below WAR (We Are Richj has been in business since 1985 WAR is an accrual method sole proprietorship that deals in the manufacturing and wholesaling of various types of golf equipment Hack & Hack CPAs has filed accurate tax returns for WAR's owner since WAR opened its doors. The managing partner of Hack & Hack (Jack) has gotten along very well with...
As a recently hired
accountant for a small business, SMC, Inc., you are provided with
last year’s balance sheet, income statement, and post-closing trial
balance to familiarize yourself with the business.
View:
Course Project Financial Reporting I - Spring 2020.pdf
You are also given the
following information that summarizes the business activity for the
current year,2019
a.
Issued 10,000 additional shares of common stock for $25,000
cash on January 1st.
b.
Borrowed $10,000 on March 1,
2019, from Downtown Bank...
*Specifically looking for help with t-accounts and
question 4, thank you!!*
As a recently hired accountant for a small business, SMC, Inc.,
you are provided with last year’s balance sheet, income statement,
and post-closing trial balance to familiarize yourself with the
business.
You are also given the following information that summarizes the
business activity for the current year,2018
a.
Issued 10,000 additional shares of common stock for $25,000
cash on January 1st.
b.
Borrowed $10,000 on March 1, 2018, from...
Tony and Jeannie Nelson are married and file a joint return. They have four children whose ages are: 12,15,19 & 23. The three youngest live at home with their parents and qualify as their dependents. The oldest Roger got married on 5/5 2019 and lives with his wife, Jane. The 19-year old Tabitha is studying Fine Arts at Savannah College of Art & Design. During the summer she helps her mother put together the art exhibits. They provide you with...
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