Expenses incurred for the month

Q: How much isJuana’s withdrawal?

A: Solution:-Calculation of Juana's withdrawals Sl.no Particulars Amount 1 Juana's invested…

Q: cash P 50,000   14 Paid electricity bill P 60,000   15 Bought new Razors for 15,000 from MANG KANOR…

A: The transactions for the month of January 2020 are given  Required  Pass the Journal Entries.

Q: Journalize the following transactions in the books of AHMED for the month of March. 2020…

A: The transactions and events of the company will be recorded in the journal book. The transactions…

Q: a.  Rex uses the automatic mileage method. Compute his basis adjustments for depreciation for each…

A:

Q: Let  us  assume  that  Mr. Amir starts  a  business  called  Amir Enterprises  on  1st  January,…

A: The accounting equation is written as : Assets = Liabilities + Owner's Equity

Q: . Owner Juana invested P100,000 to start her laundry business. During the first year of operations…

A: Capital of the business means amount invested by the business. It can be in form of cash or non cash…

Q: On July 1, 2017, Brent purchases a new automobile for $49,000. He uses the car 88% for business and…

A: As per our protocol we provide solution to the one question only or the first three sub-parts only…

Q: On 1 August 2020, Jojo decided to start a sole proprietorship business with i point the following…

A: Capital is the amount contributed by the owner for the business needs. It is also called as owner's…

Q: During the year 2020, Mr. Ahmed purchased goods for $ 500, 000 and sold 3/5th of the goods for $…

A: Net profit calculated by Mr. Ahmed is as per Matching concept.    Matching concept: As per matching…

Q: Sam is a small business owner. In the year ended at the 30th of June 2019 the business has the below…

A: Capital account represents the investments made by the owner in the business.

Q: Mr. Ramirez has started operating as a service business in 2019. His company, EN- Company, is…

A: Solution: The above transactions of a service company owned by Mr. Ramirez are being journalized and…

Q: Sam is a small business owner. In the year ended at the 30th of June 2019 the business has the below…

A: Beginning capital: Its a initial capital required for business set up. Owner's Capital is considered…

Q: Selma Shalom had the following income for the year of assessment ending 28 February 2022. Amount N$…

A: Introduction: Gross income is the amount of money you make, often in a paycheck, before payroll…

Q: 1. Beb's Trinity Store's annual income statement for 2019 is shown in the table below. Beb worked…

A: Given : Beb worked full-time in the business and invested Php300,000 Beb just turned down a…

Q: On December 1, 2018, Mario started his business with a borrowed capital amounting to P 40,000 at a…

A: Return on capital refers to the return earned by a business entity on the capital employed by them.…

Q: ASLEY  is in the business of purchasing accounts receivable from businesses at a discount and then…

A: Accounts receivable represents the revenue earned by the company but money for the same has not been…

Q: On July 1, 2016, Rex purchases a new automobile for $43,000. He uses the car 84% for business and…

A: Solution: Since Part A seems to be incomplete because the rate per mile is not given and should be…

Q: Laila Ramos decided to open abicycle and car rental business on October 1, 2021 to augment the…

A: Laila Ramos Trial Balance As on October 31, 2021 Account  Debit   Credit  Cash  2,23,000…

Q: Let  us  assume  that  Mr. Amir starts  a  business  called  Amir Enterprises  on  1st  January,…

A: Accounting equation is; Assets = Liabilities + Capital

Q: Joye started her home business in 2020 and the results of her operations are given below. Gross…

A: Schedule C is used for business taxes. This is generally prepared as part of the personal tax…

Q: Tony Ling was reviewing his business activities at the end of the year (February 28, 2019) and…

A: Statement of owners equity shows changes in equity balances of the business during the particular…

Q: During 2020, Sandeep had the following transactions: Salary $120,000 Interest income on City of San…

A: A tax is a necessary contribution or financial charge that is charged by the government on the…

Q: Prepare a statement of owner’s equity.

A: Computation of statement of equity is shown below :

Q: July 1, 2020 – Deposited the amount of P50,000 from her savings to her business bank account. luly…

A: The ledger accounts will be prepared taking the journal as the source document. The ledger accounts…

Q: The following Journal entries occurred in 2019 SAS invested 100,000 in cash in the…

A: 1. Income Statement 2. Balance Sheet The first statement shows the income earned and loss incurred…

Q: Hugo Garcia is preparing his balance sheet and income and expense statement for the year ending…

A: Assets are value held in terms of money for future benefits  Laibilties money to be paid to later on…

Q: Mr. Ramirez has started operating as a service business in 2019. His company, EN- Company, is…

A: All the transactions will be recorded first in the journal books in a chronological manner. Once all…

Q: On July 1, 2017, Brent purchases a new automobile for $37,000. He uses the car 92% for business and…

A: a). Calculation of basis adjustment for depreciation of each year.  Year Miles   Rate per miles…

Q: Owner juana invested 100,000 to start her laundry business.During the first year of operation the…

A: Capital invested in the business amount of cash and other assets that are invested in business by…

Q: Jean Smith, who retails wooden ornaments, has been so busy since she commenced business on 1 April…

A: Jean Smith Profit and Loss A/c for the Year ended 31-03-206…

Q: A.B. Mahusay decided to put up an aircon cleaning & repair services on January 1, 2020. In order to…

A: Accounting equation is the record prepared to analyze the effect of transactions on the basic…

Q: Kim works for a clothing manufacturer as a dress designer. During 2021, she travels to New York City…

A: a. The total deduction for K presuming for no reimbursement is calculated below: Airfare (full)…

Q: Kelani Brookstone, an accountant, owns her own business named KB Accounting Services. The following…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: During the 2019-2020 financial year, Tim James received a cash payment of $500,000 and goods worth…

A: Any amount of income earned by an assessee will be taxable under any one of the 5 heads of income…

Q: Debra King is the sole owner of Cullumber Vista Park, a public camping ground near the Crater Lake…

A: Net Income - It is an entity's net income minus all the relevant cost with regards to same i.e. cost…

Q: Last January 1, 2020, Mrs. Dimalanta started a laundry shop business by contributing cash of…

A: Total assets = Total liabilities + Equity P3,000,000 = P500,000 + Equity Equity = P3,000,000 -…

Q: Is this treatment appropriate?

A: Given information is: In February 2020, Ola Gott invested an additional $12000 in her business,…

Q: Jill Accardo, M.D., maintains the accounting records of Accardo Clinic on a cash basis. During 2020,…

A: Excess of cash collected over cash disbursed = Total collections - Total expenses = $142,600 -…

Q: On July 01, 2020, Maria initially invested P200,000 cash into Maria Merchandising. On the same date,…

A: Journal entries are the first recording of any transaction in the books of accounts on a…

Q: Ray owns a Chocolate store as a sole proprietor. In 2021, sales revenue equaled $100,000. The…

A: Ray's adjusted gross income for 2021 Particulars   Amount Revenue from Business   $100,000…

Q: Rob operates a small plumbing supplies business as a sole proprietor. In 2018, the plumbing business…

A: Step 1 The taxable income before the QBI deduction is $408,000.It is obtained by subtracting the…

Q: On July 01, 2020, Maria initially invested P200,000 cash into Maria Merchandising. On the same date,…

A: The practice of recording commercial transactions for the first time in the books of accounts is…

Q: Jordan took a business trip from New York to Denver. She spent two days in travel, conducted…

A: SINCE THE TRIP IS PRIMARILY FOR BUSINESS (NO FOR FOREIGN TRAVEL) PURPOSE .100% OF TRAVEL EXPENSES…

Q: What are the supplies and Supply expense at the end of the accounting period?

A: It is pertinent to note that supplies account is a current asset . It includes Printing and…

Q: Francis Mayberry, M.D., maintains the accounting records of Mayberry Clinic on a cash basis. During…

A: Meaning of Accrual basis:Accrual basis refers to the recording of accounting transaction. Under the…

Q: He asked your help to assess the presentation of the

A: An income statement is a statement showing profit earned by a company during the relevant accounting…

Q: Tom owns a shoe retail business, Good Soles, which had the following balances as at 31 December…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: during 2017, Regina, a sole proprietor, had the following income and expenses from herhome jewelry…

A: Schedule C is the form that is filled by sole proprietors. In this form, the amount of gains or…

Q: Let  us  assume  that  Mr. Amir starts  a  business  called  Amir Enterprises  on  1st  January,…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: 1. On December 1, 2018, Grey started his business with a borrowed capital amounting to P 40,000 at a…

A: As per the norms of Bratleby, in case of multiple independent questions been asked, solution to only…