Answered: Look for the ending balance of cash.

Name: A) Received P11,500 cash advance from RM C. for the design of an exten
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Description: A) Received P11,500 cash advance from RM C. for the design of an extension. B) Received P5,550 cash for services completed for Pogi Q. C) paid P2,300 owed to Shoofy Supplies Ltd. Look for the ending balance of cash.

Business

Accounting

Look for the ending balance of cash.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter16: Accounting Periods And Methods

Section: Chapter Questions

Problem 8DQ

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A) Received P11,500 cash advance from RM C. for the design of an extension. B) Received P5,550 cash for services completed for Pogi Q. C) paid P2,300 owed to Shoofy Supplies Ltd. Look for the ending of cash.
A) Received P11,500 cash advance from RM C. for the design of an extension. B) Received P5,550 cash for services completed for Pogi Q. C) paid P2,300 owed to Shoofy Supplies Ltd. D) Hired an assistant at a salary of P5,000 per month. Look for the ending balance of cash.
Assuming the entity received a cash worth of 80,000, this 80,000 is from the customer who advances payment for the service to be render next month. The proper credit for this transaction is: a. Service Revenue b. Accounts Payable c. Owner’s Equity d. Unearned Revenue
Assuming the entity received a cash worth of 50,000, this 50,000 is from the customer who advances payment for the service to be render next month. The proper credit for this transaction is: a.) Accounts Payable b.) Unearned Revenue c.) Owner’s Equity d.) Service Revenue
Below are the transaction for Sintokish Enterprise as October 2020: Oct 1 Contributed RM30,000 of cash and RM20,000 of equipment to start the business. Oct 3 Borrowed RM80,000 from the bank by signing a notes payable. Oct 15 Purchased a van by paying cash for RM75,000. Oct 17 Paid January rent of RM1,500 for the office space by credit. Oct 22 Performed services for customers and received cash immediately for RM20,000. Oct 23 Purchased RM600 in supplies on account. Oct 25 Performed services for customers and will collect next month of RM123,000 Oct 26 Withdrew of cash RM700 and equipment RM300. Oct 28 Paid RM1000 to the bank for notes payable. Oct 30 Paid half of amount for Oct 23 transaction. REQUIRED: Prepare the relevant journal entries to record the above transactions. Omit the explanations.
Presented below is the trial balance for Pedu Belantik Bhd (PBB) as at 31 December 2020: Accounts Debit (RM) Credit (RM) Land 156,250 Office building 193,750 Equipment 25,000 Motor vehicle 68,750 Accumulated depreciation: - Office building - Equipment - Motor vehicle 65,000 10,000 26,250 Bank 137,500 Trade receivables 172,500 Supplies 18,750 Prepaid insurance 38,250 Long term investment 201,875 Goodwill 50,000 Inventory 56,500 Ordinary share capital 375,000 Reserves 25,000 Retained earnings 206,250 Rent revenue 71,875 Sales 675,000 Gain on revaluation of properties 11,250 Gain on sale of land 12,500 Gain on translation of foreign operations 6,250 Cost of goods sold 280,000 Salary and wages expenses 142,500 Finance cost 25,000 Distribution expenses 25,625 Advertising expenses…
Presented below is the trial balance for Pedu Belantik Bhd (PBB) as at 31 December 2020: Accounts Debit (RM) Credit (RM) Land 156,250 Office building 193,750 Equipment 25,000 Motor vehicle 68,750 Accumulated depreciation:    - Office building    - Equipment    - Motor vehicle 65,000 10,000 26,250 Bank 137,500 Trade receivables 172,500 Supplies 18,750 Prepaid insurance 38,250 Long term investment 201,875 Goodwill 50,000 Inventory 56,500 Ordinary share capital 375,000 Reserves 25,000 Retained earnings 206,250 Rent revenue 71,875 Sales 675,000 Gain on revaluation of properties 11,250 Gain on sale of land 12,500 Gain on translation of foreign operations 6,250 Cost of goods sold 280,000 Salary and wages expenses 142,500 Finance cost 25,000 Distribution expenses 25,625 Advertising expenses…
Presented below is the trial balance for Akshara Bunga Bhd (ABB) as at 31 December 2020: Accounts Debit (RM) Credit (RM) Land 156,250 Office building 193,750 Equipment 25,000 Motor vehicle 68,750 Accumulated depreciation:    - Office building    - Equipment    - Motor vehicle 65,000 10,000 26,250 Bank 137,500 Trade receivables 172,500 Supplies 18,750 Prepaid insurance 38,250 Long term investment 201,875 Goodwill 50,000 Inventory 56,500 Ordinary share capital 375,000 Reserves 25,000 Retained earnings 206,250 Rent revenue 71,875 Sales 675,000 Gain on revaluation of properties 11,250 Gain on sale of land 12,500 Gain on translation of foreign operations 6,250 Cost of goods sold 280,000 Salary and wages expenses 142,500 Finance cost 25,000…
Presented below is the trial balance for Akshara Bunga Bhd (ABB) as at 31 December 2020: Accounts Debit (RM) Credit (RM) Land 156,250 Office building 193,750 Equipment 25,000 Motor vehicle 68,750 Accumulated depreciation:    - Office building    - Equipment    - Motor vehicle 65,000 10,000 26,250 Bank 137,500 Trade receivables 172,500 Supplies 18,750 Prepaid insurance 38,250 Long term investment 201,875 Goodwill 50,000 Inventory 56,500 Ordinary share capital 375,000 Reserves 25,000 Retained earnings 206,250 Rent revenue 71,875 Sales 675,000 Gain on revaluation of properties 11,250 Gain on sale of land 12,500 Gain on translation of foreign operations 6,250 Cost of goods sold 280,000 Salary and wages expenses 142,500 Finance cost 25,000…
Presented below is the trial balance for Akshara Bunga Bhd (ABB) as at 31 December 2020: Accounts Debit (RM) Credit (RM) Land 156,250 Office building 193,750 Equipment 25,000 Motor vehicle 68,750 Accumulated depreciation: - Office building - Equipment - Motor vehicle 65,000 10,000 26,250 Bank 137,500 Trade receivables 172,500 Supplies 18,750 Prepaid insurance 38,250 Long term investment 201,875 Goodwill 50,000 Inventory 56,500 Ordinary share capital 375,000 Reserves 25,000 Retained earnings 206,250 Rent revenue 71,875 Sales 675,000 Gain on revaluation of properties 11,250 Gain on sale of land 12,500 Gain on translation of foreign operations 6,250 Cost of goods sold 280,000 Salary and wages expenses 142,500 Finance cost 25,000…
Presented below is the trial balance for Akshara Bunga Bhd (ABB) as at 31 December 2020: Accounts Debit (RM) Credit (RM) Land 156,250 Office building 193,750 Equipment 25,000 Motor vehicle 68,750 Accumulated depreciation: - Office building - Equipment - Motor vehicle 65,000 10,000 26,250 Bank 137,500 Trade receivables 172,500 Supplies 18,750 Prepaid insurance 38,250 Long term investment 201,875 Goodwill 50,000 Inventory 56,500 Ordinary share capital 375,000 Reserves 25,000 Retained earnings 206,250 Rent revenue 71,875 Sales 675,000 Gain on revaluation of properties 11,250 Gain on sale of land 12,500 Gain on translation of foreign operations 6,250 Cost of goods sold 280,000 Salary and wages expenses 142,500 Finance cost 25,000…
FDN Accounting Services started operations on November 1, 2021. The following were the transactions during the month: Nov 1 The business owner provided P1,000,000 cash as investment to the business. 5 Obtained a P300,000 loan and issued a promissory note with 10% interest per annum. 8 Acquired land costing P1,000,000 on account. 16 Rendered services worth P1,700,000 on account. 30 Paid salaries expense of P210,000. How much is the ending cash balance?