ADMS 2500 All Chapters Sample questions

prado chnical University, / Unit 3: Financial Mathematics / Learn: Cash and Bank Reconciliation nand Bank Reconciliation Questions + Question 5 Which of the following is an example of a book item, an item that is found on the bank statement that you have not recorded in the books yet? Bank service charge Cash deposits made at the bank last month Interest earned last year Taxable income I don't know One attempt You answered 3 out of 4 correctly. Asking up to 8. Submit answer Exit

www.downloadslide.net Brief Exercises 35 (e) Received cash in exchange for ordinary shares. (d) Paid accounts payable in full. 4. What uses of financial accouunting information are made by (a) investors and (b) creditors? 5. "Bookkeeping and accounting are the sarme." Do you 17. Listed below are some items found in the financial agree? Explain. 6. Jackie Remmers Travel Agency purchased land for C85,000 cash on December 10, 2017. A December 31, 2017, the land's value has increased to £93,000. What amount should be reported for land on Jackie Remmers statement of financial position at Decem- ber 31, 2017? Explain. 7. What is the monetary unit assumption? 8. What is the economic entity assumption? 9. What are the three basic forms of profit-oriented business organizations? 10. Teresa Alvarez is the owner of a successful printing shop. Recently, her business has been increasing, and Teresa has been thinking about changing the organization of her business from a proprietorship to a…

Solve both parts.

Use Report Form of SFP

Use the work bank to complete the following

Hi ,can you please explain how the cash and cash equivalents in the beginning were calculated ?   Thanks a lot

weat subject-Accounting

Q.1: Journalize the following Transaction into journal post them into ledger and Prepare Trail balance. In this question value (x) is your UNIVERSITY ROLL NUMBER.                                                               August 01: Introduced cash as capital Rs. 2,50,000 ‘’           04: Purchased Goods from Noor limited Rs.5000 ‘’         11: Paid to Noor Limited 4500 and discount received in full settlement of his account. ‘’         12: Sold Goods to Mobeen for Rs.1500 on credit.   ‘’         15: withdraw cash for personal use by the owner of the business is value  Rs.(157) multiply by 2.  ‘’         16: Paid salaries is Value Rs. 157 multiply by 5

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

Q.1: Journalize the following Transaction into journal post theminto ledger and Prepare Trail balance. In this question value (x) is your UNIVERSITY ROLL NUMBER. August 01: Introduced cash as capital Rs. 2,50,000 04: Purchased Goods from Noor limited Rs.5000 11: Paid to Noor Limited 4500 and discount receivedin full settlement of his account. 12: Sold Goods to Mobeen for Rs.1500 on credit. 15: withdraw cash for personal use by the ownerof the business is value Rs.(X) multiply by 2. (whereas value (X) is your university rolI number) 16: Paid salaries is Value Rs. (x) multiply by 5. (Whereas value (X) is your university roll number)

s

Please answer asap thanks

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

Give true answer this accounting question

Just answer requirement B.

45 )

Question Two Ali and Ranjeet are partners in the Punjabi Deli. The firm has provided the following data as at December 31, 2018 DETAILS Bank Cash Land and Building Provision for Depreciation on Building Machinery and Equipment Provision for Depreciation on Machinery & Equipment Capital Ali Capital Ranjeet Current Account Ali Current Accounts Ranjeet Drawings Ali Drawings Ranjeet Sales Wages and Salaries Telephone Discount Received Loan Interest Creditors Return Inwards Rent Received Purchases Debtors Provision for Bad Debts 10% Loan Commission Received Opening Stock Insurance Office Expenses Additional details available a Stock at the end of the year was values at 95,000 b. Wages is prepaid by $12,000 c. Insurance is owing by $7,000 d. Rent Received is owing by 8,000 Page 4 of 12 Land and building Machinery and equipment DR 89,950 40.300 550.000 132,000 10,000 80,000 30,000 20,000 60,000 8,000 12,000 13,000 352,250 64,000 e. Commission is prepaid by 10,000 f The provision for bad debts…

For problems 2-21, answer numbers 1-4.

Enrichment Activity Since it was already discussed the theory of debit and credit in the use of a T account and the effect on assets, liabilities, capital, income, and expenses, record the following transactions in their corresponding T account by answering the remaining transactions Number 1-3 is already done for you. Use 1 whole sheet of paper. 4. Rendered services to Lao Ay on account P3,000.00. 5. The owner withdraws P4,000.00 for his personal use. 6. Received P20,000.00 cash from the customer for services rendered. 7. Paid electricity bill P10,000.00

lemic Calendar My MCBS Library English (en) - ndamentals of Financial Accounting Summer Session 12021/ACT 140/D2 / Final Examination/ AC In a bank reconciliation statement, explain. A. Non-sufficient-funds (NSF) check B. What is a deposit in transit? A BI - mcbs.proctoring.online is sharing your screen. Stop 11

Subject: Fundamentals of Accounting 2 Topic: Statement of Financial Position(SFP) Lakwandasan General Merchandising Store Lakwandasan General Merchandising Store is managed by Mr. Lakwandasan asked you to determined the balance of his cash account as of December 31, 2018. You determined the following:   He kept some cash in the store a change fund. The cash count revealed 8 pcs of 100 peso bill, 20 pieces of 50 bills, 10 pieces of 20 peso bills 40 pieces of 10 peso coins,, 20 pieces of 5 peso coins, 132 pieces of 1 peso coins and 100 pieces of 25 centavo coins. Three of his regular customer gave Mr. Lakwandasan the following check in payments of debt. Php 9,800 dated November 15,2018. Php 12,500 check dated December 23 2018. Php 7,500- Checked dated Febuary 2019 There are two bank account in the name of the store with the following balances. Balance of the saving account on Dec. 31, 2019 according to the passbook is Php 50,150,. A time deposit certificate for Php 200,000 for 90…

Q/ provided you with the following data. You are required to find the missing amount, bearing in mind that the company uses the single entry theory 1/1/2020 Furniture 400,000 / land 1,000,000 / fund 100,000 / bank 600,000 / loan 40,000 / notes receivable 60,000 / debtors 50,000 31/12/2020 Furniture 200,000 / land 1,000,000 / fund 160,000/ loan 40,000 / notes receivable 30,000 / debtors??? The additions during the period are equal to 10% of the capital at the end of the period and the withdrawals were 100,000 It is required to find the debtors at the end of the period if you know that the project achieved a profit of 90000

please answer 1-3 only and show solutions thank you

Identify what reconciling item of the book or bank the following independent transaction. TRANSACTION RECONCILING ITEM ABC company deposited a check paid by the 1. customer but was returned by the bank due to the issuer's lack of funds. ABC Company received P2, 000 from Romel. The bookkeeper recorded 2. BOOK. P1,800 will be added to the books. the amount as P200. 3. The deposits of ABC Company earned an interest of P200 for the month. 4. The bank charges a fee for its services of P45. 5. ABC Company received cash of P1, 450 on March 31 and was recorded on the company's books. Due to an unforeseen event, the liaison officer was able to deposit the P1, 450 in the bank on April 1. ABC Company issued a check of P30, 000 to a 6. supplier. Supplier not yet deposited to the bank for payment. 7. ABC Company bank statement for the month of March shows that bank charges of P45 have been incorrectly recorded twice by the bank The bank collected P40, 000 from the 8. BANK customer. 9. P10,000…

Accounting Q/ Prepare a Bank Reconciliation Statement for XYZ company that has: Bank statement of SR9,000. Cash account of SR7,500. Additional information for the reconciliation: Deposit in transit. NSF Check. Outstanding check. Collections made by the bank. Required: provide an amount of each information to bring the adjusted balances to be equal.