4 Fom the figures given below, prepare an Income and Expenditure At to 2020 Receipts Rs. Payments To Opening Balance hand Bank To Subsoriptions 2019 220 2021 To Sales of Investments To Sale of oid Furniture (B.V. Rs.400) By Salaries 200 By Rent 1,600 By Stationery & Postage By Bicycle Purchased 500 By National Saving Cert. 8,300 By Help to Needy Students 600 By Balance 2,000 300 In Hand At Bank 300 2.400 13,500 Subeorptions for 2020 still receivable were Rs.700, Interest

4 Fom the figures given below, prepare an Income and Expenditure At to 2020 Receipts Rs. Payments To Opening Balance hand Bank To Subsoriptions 2019 220 2021 To Sales of Investments To Sale of oid Furniture (B.V. Rs.400) By Salaries 200 By Rent 1,600 By Stationery & Postage By Bicycle Purchased 500 By National Saving Cert. 8,300 By Help to Needy Students 600 By Balance 2,000 300 In Hand At Bank 300 2.400 13,500 Subeorptions for 2020 still receivable were Rs.700, Interest

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter2: Basic Accounting Systems: Cash Basis

Section: Chapter Questions

Problem 2.6P: Financial statements Alpine Realty. Inc., organized July 1. 20Y8, is operated by Angela Griffin. How...

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Use the following information (in thousands):a. ¥126,000 d. ¥63,000Answer:1Sales revenue¥300,000 Gain on sale of equipment90,000 Cost of goods sold164,000 Interest expense16,000 Selling & administrative expenses30,000 Income tax rate30%Determine the amount of net income.
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Using this Trial Balance: Cash 5,000 Accts. Rec. 5,000 Prepaid Ins. 1,800 Supplies 1,200 Equip. 26,000 Acc. Deprec.-Equip. 4,000 Accts. Pay. 6,000 Wages Payable Mohammad, Cap. 15,000 Svc. Revenue 25,000 Adv. Exp. 1,000 Deprec. Exp. Insurance Exp. Supplies Exp. Utilities Exp. 2,000 Wages Exp. 8,000 record, in proper journal entry form, adjusting entries for the three month period ending September 30, 2020 : Since the last payday in September, $2,000 of wages were earned by employees in September though they won’t be paid until the following month. An inventory of the Supplies taken at the close of business on September 30th revealed $700 worth of Supplies on hand. Of the amount of Prepaid Insurance on September…
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