GATES GEMS INVOICE 111 Main Street Anytown, USA 12345 Phone 704-555-1212 DATE: July 14, 20XX INVOICE # 101 Bill To: Bill Smith 1222 Peachtree Street Anytown, USA 12345 DESCRIPTION AMOUNT Jewelry repair 2$ 125.00 TOTAL $ 125.00 THANK YOU FOR YOUR BUSINESS!
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- BUS 038 : Business Computatns 11. You purchase goods on an invoice dated February 5 of a leap year, with terms of 5/10-90X. Calculate the last day of the discount period. The discount period ends 100 days (10 + 90 = 100) after the date of the invoice. February 5 is day 36.BUS 038 : Business Computations 8. An invoice for $75.20 has terms of 3/10, 1/30, n/60. If you make payment 25 days after the invoicedate, what amount should you pay?Question 1. Trial balanceLand and premises 2000000Furniture 120000Inventory (01/04/19) 80000Import on duty 4000Wages of contract workers 46000Salaries 64000Carriage for goods purchased 5200Carriage for goods sold 12400Discounts 24900 25080Purchases and sales 705200 237252200 Rent 11200 13000Commission 15600 17400Bills receivable 1080012% investment (1/10/19) 136000Donation to national fund 1260010% bank loan 112000Factory rent 64000Receivables and payables 920000 240000eBank 728000Bad debts 66000 Provision for doubtful debts 20000Rates and taxes 31200BrokerageCapitalQueen corona 500000Queen covid 500000Current accountQueen corona 20000Queen covid 128000 Additional informationDue to the economic recession at the moment, the partners estimated that more of their receivables may not be able to settle their debts, hence, they wrote off additional debts of GHc 15000 and agreed to maintain provisions for doubtful debts at 5%.They agreed to provide for discount on receivables at 5%.All…
- TO: EAST WEST COLLEGE 3880 29 STREET NE December 5, 20XX CALGARY, Alberta, T1Y6B6 INVOICE 3763 Course Manual SAGE 50 2000 Manuals $15 each $ 30,000.00 GST $ 1,500.00 $ 31,500.00 How To Record In General Journal?PB5. LO 6.3Review the following transactions for April Anglers and record any required journal entries. Oct. 4 April Anglers purchases 82 fishing poles at $33 each with cash. Oct. 5 April Anglers purchases 116 fishing poles at $30 each on credit. Terms of the purchase are 3/15, n/30, invoice date October 5. Oct. 12 April discovers 18 of the fishing poles are damaged from the October 4 purchase and returns them to the supplier for a full refund. April also discovers that 32 of the fishing poles from the October 5 purchase are the wrong length but keeps them since the supplier granted an allowance of $15 per fishing pole. Oct. 24 April pays their account in full from the October 5 purchase, less any returns, allowances, and/or discounts.PA5. Review the following transactions and prepare any necessary journal entries.A. On July 16, Arrow Corp. purchases 200 computers (Equipment) at $500 per computer from a supplier,on credit. The terms of the purchase are 4/10, n/50 from the invoice date of July 16.B. On August 10, Hondo Inc. receives an advance cash payment from a client for legal services in the amountof $9,000. Hondo had yet to provide legal services as of August 10.C. On September 22, Jack Pies sells thirty pies for $25 cash per pie. The sales tax rate is 8%.D. On November 8, More Supplies paid a portion of their noncurrent note in the amount of $3,250 cash.
- Q4 Company A provides a bundled service offering to Customer B. It charges Customer B $35 000 for initial connection to its network and two ongoing services – access to thenetwork for 1 year and ‘on-call troubleshooting’ advice for that year.Customer B pays the $35 000 upfront, on 1 July 2014. Company A determines that, if it were to charge a separate fee for each service if sold separately, the fee would be:Connection fee Access fee Troubleshooting$ 5 000 $12 000 $23 000The end of Company A’s reporting period is 30 June.RequiredPrepare the journal entries to record this transaction in accordance with AASB 118 for the year ended 30 June 2013, assuming Company A applies the relative fair valueapproach. ShowPA2. LO 7.4Evie Inc. has the following transactions during its first month of business. Journalize the transactions that go in the sales journal. Jun. 1 Credit sale (invoice #1) to Green Lantern Inc. (acc #101) for $1,999 Jun. 2 Credit sale (invoice #2) to Wonder Woman Inc. (acc #102) for $2,000 Jun. 3 Credit sale to Flash Inc. (invoice #3) (acc #103) for $3,050 Jun. 4 Received $1,000 on account from Green Lantern Inc. Jun. 5 Credit sale (invoice #4) to Black Panther Inc. (acc #104) for $1,875 Jun. 6 Received the full amount from Flash Inc.Pg 37 T- Accounts Please find the missing amount on the follwoing T-Account. and explain CLEARLY and indepth (showing formula or method) on how you found the amount. Accounts Payable DRs 6/4 Transaction A 1500 6/8 Transaction C 2000 CRs Beginning Balance 3000 6/6 Transaction B UNKOWN 6/29 Transaction D 3,400 Ending Balance 6,700
- BLOCK C/2018/4 Red John AG restores antique furniture and trades in antiques. Create the posting records for t1! Red John AG's account will receive € 11,305 on 05.01.t1. Thus, a customer of Red John AG settles his debt from t0 with a 5% discount. A customer returns a damaged antique to Red John AG in February t1 . The complaint will be processed immediately and the customer will receive a refund in cash. The value of the goods is € 35.70 gross. Due to numerous antique purchases at Krempel AG, Red John AG receives a bonus of € 6,464.08 VAT. This will be transferred to her in February t1. At the end of November t1, Red John AG sells a desk made of operating and office equipment. The desk is scheduled to be delivered to the buyer in January t2. Already on 02.12. t1, Red John AG receives the full purchase price of 530 € plus VAT in bar. In July t0, Red John AG acquired a machine for restoration work for € 30,000 The machine has a useful life of 7 years and is depreciated at a…question General ledger Debit Credit Balance 01.11.20 50,000 31.12.20 Rental Revenue 6000 56,000 31.12.20 Rental Revenue 1800 57,800 01.01.21 Rental Revenue 6,000 51,800 Kindly show me the T Accounts for the above general ledger.BUS 038 : Business Computatns 6. You receive an invoice for $18,300 with terms of 5/15, n/60. If the supplier has a policy of allowing a cash discount for partial payments and you pay $11,500 within the discount period, calculate the amount of credit you will receive for this payment. Amount credited = Amount paid Complement of cash discount rate = $11,500