25 ) 4/2Purchased a company automobile for $32,000, with a cash down payment of $1,000 and the remaining $31,000was financed through the bank (Hint: I still need to PAY this).how to solve this problem? with puting into general journal as debit and credit side

Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…

Answered: 4/2 Purchased a company automobile for…

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 10DQ

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i am doing chart of accounting general journal, 4/ 2 Purchased a company automobile for $32,000, with a cash down payment of $1,000 and the remaining $31,000 was financed through the bank (Hint: I still need to PAY this). how to solve this problem? with puting into general journal as debit and credit side
7: Purchased a building with a market value of $ 120 comma 000$120,000, and land with a market value of $ 24 comma 000$24,000. The business paid $ 45 comma 000$45,000 cash and signed a note payable to the bank for the remaining amount I'm confused as too which is credit and how to add the answer to the balance sheet etc.
01 On 1 April, the owner decided to start a laundry business. He withdrew R200 000 from personal savings account and deposited it directly into HI-Lo traders bank account 03 HI-Lo Traders obtained a loan of R30 000 with a repayment period of 12 months from invest Bank account 05 Hi-Lo Traders bought equipment from Blue Furnishers for R16 000. Hi-Lo made a payment of 16 000 directly into Hi-Lo bank account 09 A Cash sale amounting to R45 000 was made, the good were originally purchased at a cost of 35 000 13 Hl-Lo traders bought equipment on credit from Risk Furniture for R9000 15 HI-Lo Traders made a direct payment into the bank account of Risk Furnisher to pay their amount of 9000 18 The owner withdrew 1200 from the business to buy his daughter a birthday present 19 Hl-Lo Traders offered a service worth R5000 to Mr Bogus on credit 27 Hl-Lo Traders placed an advertisement in a local newspaper for R350 Payment was only due in…
On 1/1/2020, a young pioneer started his commercial project with a capital of 10,000 dinars, and he deposited this amount in a current account of the project with a bank. - Day 1/2 rent a store in a commercial area and pay in advance 3 months' rent with a check of 600 dinars. - On 1/3, a 1000 dinars were withdrawn from the bank to be deposited in the store fund for petty cash. - On 1/5, he bought a commodity for 3,000 dinars, and paid for it by check. - On January 12, he paid 50 dinars in cash for a funded advertisement on Facebook. On January 17th, he sold goods for cash for 1500 dinars. - On January 22, he sold merchandise on the account with a value of 1800 dinars to Abu Ali stores. - On January 23, he bought an office with a chair and a small wardrobe for the shop, at a total price of 400 dinars, which he paid in cash. - On January 31, pay the electricity and water bill for January, at an amount of 45 dinars. Required : 1) Record the journal entries for the…
Anthony Clement is applying for a car loan. The lending institution requires a personal net worth statement. Anthony currently has $1,085.00 in cash, and his camera is worth $635.00. He also owes Vista Travel $305.00 and Kelley Electronics $83.00. Complete a net worth statement for Anthony Clement. Select Current Date in the appropriate field. Assets should be listed in order of liquidity, so Cash should be listed first. Liabilities should be reported in alphabetic order.
if cash 1350000, Purchased additional printing machine worth 75000, 75% of the amount were recorded as credit while the remaining 25% paid in cash. Find the current balance of cash
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i am doing chart of accounting and for general journal, Purchased a company automobile for $32,000, with a cash down payment of $1,000 and the remaining $31,000 was financed through the bank (Hint: I still need to PAY this). what type of category and debit & credit section?
Complete the columns to show the effect of the following transactions: Transaction Asset Liability Capital (a) Bought a motor Van on credit $500 (b) Repaid by cash a loan owed to P Smith $1,000 (c) Bought goods for $150 paying by cheque (d) The owner puts a further $5,000 cash into the business (e) A debtor returns to us $80 goods. we agree to make an allowance for them (f) Bought goods on credit $220 (g) The owner takes out $100 cash for his personal use.
wner contributed computer costing RO. 9000, inventory worth OR 8000 and in cash OR 32000 . What is his Capital ? Select one: a. OR 49000 b. OR 8000 c. OR 32000 d. OR 39000 Rent revenue received OMR 3500 by cheque . The correct entry--- Select one: a. CASH A/C DR RENT A/C CR b. BANK A/C DR RENT A/C CR c. RENT A/C DR CASH A/C CR d. RENT A/C DR BANK A/C CR If a business has purchased goods for OMR 50000 and 25%was on account . Find out value of account payable? Select one: a. OMR 12500 b. OMR 50000 c. OMR 37500 d. OMR 32500
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V1801 January Kirill introduced $17,000 cash and a vehicle (costing $2,000) as capital01 January Purchased a machine by cash, $1,80001 January Received a bank loan principal $2,10002 January Purchased furniture on credit, $2,00017 January Invoiced a customer for services, $1,90021 January Bought goods for cash, $1,40022 January Sold goods on credit, $2,50031 January Accrued wages, $80031 January Paid interest expense, $10Cost of goods available at 31 January is $110, their market value is $140.RequiredPrepare:(iv) a statement of profit or loss (income statement) for the year to date;(v) a statement of financial position (balance sheet).

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4/2 Purchased a company automobile for $32,000, with a cash down payment of $1,000 and the remaining $31,000 was financed through the bank (Hint: I still need to PAY this). how to solve this problem? with puting into general journal as debit and credit side