Required InformationPA2-3 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting theBalance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5][The following Information applies to the questions displayed below.]Barnett Allen Interiors Incorporated is a leading manufacturer and retaller of home furnishings in the United States andabroad. The following is adapted from Barnett Allen's June 30, 2019, trial balance. (The amounts shown represent millionsof dollars.)Accounts Payable$ 120Accounts ReceivableCashCommon StockEquipmentInventoryNotes Payable (long-term)Notes Payable (short-term)Prepaid Rent29Retained Earnings333Salaries and Wages Payable26Software65Assume that the following events occurred in the following quarter.a. Paid $45 cash for additional Inventory.b. Issued additional shares of common stock for $35 In cash.c. Purchased equipment for $150; paid $70 In cash and signed a note to pay the remaining $80 In two years.d. Signed a short-term note to borrow $13 cash.e. Conducted negotiations to purchase a sawmill, which is expected to cost $34.PA2-3 (Algo) Part 66. Prepare a classified balance sheet at September 30, 2019. (Enter your answers in millions (l.e., 10,000,000 should be entered as10).)16.112273051481654 Required informationTMZ (Miyu, raitu6. Prepare a classified balance sheet at September 30, 2019. (Enter your answers in millions (l.e., 10,0-10).)BARNETT ALLEN INTERIORS, INCORPORATEDBalance Sheet(in millions of dollars)S000

Working Cash =112-45+35-70+13 Inventory=148+45 Equipment =305+150 Notes Payable (short term)=4+13…

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Business

Accounting

ORPORATED

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter3: The General Journal And The General Ledger

Section: Chapter Questions

Problem 4PB: Leanders Landscaping Service maintains the following chart of accounts: The following transactions...

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please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) ABC Consulting is a company that provides consulting services to clients in various industries. The following are the balances taken from the trial balance: ABC Trial Balance 31/12/2022 Account Debit (SAR) Credit (SAR) Cash 10,000 - Accounts Receivable 15,000 - Supplies 5,000 - Equipment 50,000 - Accumulated Depreciation - Equipment - 10,000 Accounts Payable - 8,000 Unearned Revenue - 12,000 Common Stock - 40,000 Dividends 5,000 - Service Revenue - 60,000 Salaries Expense 25,000 - Rent Expense 10,000 - Depreciation Expense 5,000 - Supplies Expense 3,000 - Interest Expense 2,000 - Total 130,000 130,000 Required: Prepare the income statement for the year ended 31 December 2022. Prepare the statement of retained earnings for the year…
For each transaction, suggest two internal controls you would implement. Justify your response. Here's an example to guide you: · A. Transaction: Big Marker purchased supplies on account, $100. B. Business process: Acquisition/ payment. C. Journal entry: Debit Supplies $100. Credit Accounts Payable $100. D. Elements: Supply is an asset; accounts payable, a liability E. Forms: Purchase requisition and purchase order. F. Additional information: name of the primary contact person at the vendor, specific type and quantity of supplies purchased (e.g., 10 boxes of paper clips) G. Internal controls: Transaction authorizations would ensure that only the purchasing department can issue purchase orders. Sending a blind copy of the purchase e Receiving department would aid in the segregation of duties.
DATA PROVIDEDThe pre-adjustment trial balance of Wing-It (Pty) Ltd as at 31 August 2022 is presented:AccountDebitCreditProfessional fees765 000Goods sold435 000Cost of sales215 000Interest received19 500Interest on loan6 300Bank charges3 200Cleaning1 500Staff welfare650Salaries and wages35 850Municipal services6 850Printing and stationery16 715Telephone18 600Fuel and oil56 000Repairs and maintenance: Building5 200Repairs and maintenance: Vehicles6 850Capital: Blue520 000Capital: Green630 000Drawings: Blue35 000Drawings: Green27 000Current account: Blue2 500Current account: Green6 400Retained income265 000Land500 000Buildings1 500 000Accumulated depreciation on buildings21 000Vehicles380 000Accumulated depreciation on vehicles65 000Equipment and electronics79 500Accumulated depreciation on equipment and electronics1 5008% Long-term loan325 000Bank: FNB168 000Bank: ABSA32 000Debtors control account85 000Allowance for credit losses6 400Creditors control account78 600Petty cash2…
The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers: Instructions Journalize the entries to record the transactions of Amsterdam Supply Co.
Prepare a trial balance for Lavender Company using the journal entries in PB5.
Leanders Landscaping Service maintains the following chart of accounts: The following transactions were completed by Leander: Required 1. Journalize the transactions in the general journal. Prepare a brief explanation for each entry. 2. If you are using working papers, write the name of the owner on the Capital and Drawing accounts. 3. Post the journal entries to the general ledger accounts. (Skip this step if you are using CLGL.) 4. Prepare a trial balance dated April 30, 20. If you are using CLGL, use the year 2020 when recording transactions and preparing reports.
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The Jardine Matheson Group is a major conglomerate within the Asian region. The company uses IFRS in preparing its financial statements ad has done so for a number of years. Access Jardine Matheson’s most recent annual report on the company’s website. Review the company’s consolidated financial statements to evaluate whether the financial statements presented comply with the presentation requirements in IAS 1, Presentation of Financial Statements. Document your evaluation.
Dextr Wake Co Ltd is a technology company providing service network and infrastucture for IT at Shipping Service Solution & Multimedia. Attached the Financial Ration of Dexter Wake Co Ltd for the year of 2020. Please make a financial ratio analysis for Dexter Wake Co Ltd based on the data.