Previous Balance Payments New Late Finanče New Balance Minimum SUMMARY / Credits Purchases Charge Charge Payment $420.50 $0.00 $30.00 Average Daily Balance # Days in Billing Сyce Monthly Periodic Rate $ 3,000.00 APR Total Credit Line Total Available Credit 30 19.8% 1.65% Fill in all of the missing values from above! Payments/Credits = New Purchases = Average Daily Balance = Finance Charge = New Balance = Total Available Credit =
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- 3. The following was the trial balance extract from ABC Trading as at 31 March 2019.Particulars DEBIT (RM) CREDIT (RM)Purchases and Sales 22,800 41,000Inventory on 1 April 2018 5,100Capital 8,170Bank overdraft 4,300Cash 140Discount allowed and received 1,440Returns inwards and outwards 790Carriage outwards 2,180Office expenses 450Fixtures and fittings 1,210Delivery van 2,000Accounts receivables and account payables 11,900 6,720Rent and insurance 1,790Drawings 2,850Wages and salaries 8,980TOTAL 61,690 61,690Additional information as at 31 March 2019:a. Inventory on 31 March 2019 was RM4,250b. Wages and salaries accrued as at 31 march 2019 was RM210; outstanding office expenses was RM30c. Rent and insurance prepaid was RM150Required:i. Prepare the Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 March 2019ii. Prepare Statement of Financial Position as at 31 March 2019question 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.H1. Kitchen Equipment Company uses the allowance method to account for uncollectibles. On Oçlober 31, it wrote off a $1,220 account of a customer, Gwen Rowe. On December 9, it received an $820 payment from Rowe. a. Make the appropriate entry for October 31 . Journal entry worksheet 1 Record the entry to write off $1,220-due from Gwen Rowe. Note: Enter debits before credits. Activate Windows Go to Settings to activate Wint
- Purchased $2,150.03 in resale items on account from Starry Night; terms 1/15, n/30. Purchase order 95687 was issued. What journals and account are these posted? I have an idea, but I want to make sure it's right.5. Record the following transactions for the month of November 2020 in the generaljournal and post to the appropriate ledger account and balance all the accounts theprepare the trial balance as November 2020. Nov 1 Started business with RM6,000 in the bank2 Bought goods on credit from Ab Bhd RM 390 and XY Trading RM7105 Cash sales RM2407 Paid rent by cheque RM309 Paid sundry expenses by cheque RM20011 Sold goods on credit to Mina RM80 and Chee RM1,15016 Paid wages by cash RM4518 Returned goods to AB Bhd RM20 and XY Trading RM3519 Goods returned by Mina RM10 and Chee RM5021 Bought motor van on credit from Tan Ching Motor RM8,00024 Paid AB Bhd RM250 and XY Trading RM400 by cheque27 Received a loan of RM500 cash from Aman29 Received a cheque from Mina RM70 and Chee RM60030 The owner deposited a further RM1,000 into a business bank accountQ4 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. Show
- 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 6,700Date Details of transaction 1 Sold goods on credit to Miss Marigold, R46 000 (including VAT). 5 Realised that an error was made on the previous invoice. The invoice was undercast by R4 000 (excluding VAT). Miss Marigold was contacted in this regard and she accepted the corrected amount. 8 Miss Marigold settled her account balance as at 5 March 2021 and took advantage of the 2% settlement discount Oak General Dealers had offered her for prompt payment. Round to the nearest rand. 9 Sold goods on credit to Mr Mimosa, R9 200 (including VAT). 10 A rebate of R200 (excluding VAT) was granted on the goods purchased by Mr Mimosa. 15 Best Bank informed Oak General Dealers that Miss Marigold’s EFT processed on the 8th March was unsuccessful due to insufficient funds. 18 Miss Zinnia bought goods on credit, R15 000 (excluding VAT). 23 Miss Zinnia returned goods purchased on the 18th for R2 875 (including VAT). 31 Miss Marigold’s lawyer informed Oak General Dealers that Miss Marigold had been…help with journal entries 32 6 Completed work for Gomez Co. and billed them $3,990. Invoice wasdated November 6.33 6 Received and paid bill from Horizon for phone and internet, $26534 11 The company received the balance due from Alex’s Engineering Co. forfees billed on October 11.35 13 The company received $6,100 balance from Wildcat Services.36 14 The company sold merchandise to Dream, Inc., receiving a 90-day notefor $15,400 with interest of 5% due at maturity. The merchandise costComputer Solutions $9,900.37 15 The company paid salaries and wages to Lyn Addie and RamonaSantana. Lyn Addie worked 11 days’ work at $150 per day, andRamona's semi-monthly pay is $2,850.38 23 The company sold merchandise with a $1,995 cost for $3,120 on creditto Delta Co., invoice dated November 23.39 26 KC, Inc. paid balance of $1,200.
- Annexure A You have been provided with the following information for Fred Ltd, Ted Ltd, Pet Ltd and Ketty Ltd who supplies stationary products to Empire Stationary Ltd. The following transactions occurred during the month of September 2022 Date Transaction details 1 September 2022 Opening balance: Fred Ltd R 21 665 : Ted Ltd R 20 260 : Pet Ltd R 14 600 4 September 2022 Made credit purchases from Ketty Ltd R 4 900 and invoice number IV-10 was received. 5 September 2022 Returned goods valued at R500 to Ketty Ltd , and received their credit note CN 10. 7 September 2022 Made credit purchases from Ketty Ltd R 6 000.and invoice number IV 11 8 September 2022 Cheque payment to Ketty Ltd settled in full the outstanding amount. Cheque number R111.. 10 September 2022 Credit purchases from Fred Ltd, R 19 100 and received Invoice number IV-101 was…Annexure A You have been provided with the following information for Fred Ltd, Ted Ltd, Pet Ltd and Ketty Ltd who supplies stationary products to Empire Stationary Ltd. The following transactions occurred during the month of September 2022 Date Transaction details 1 September 2022 Opening balance: Fred Ltd R 21 665 : Ted Ltd R 20 260 : Pet Ltd R 14 600 4 September 2022 Made credit purchases from Ketty Ltd R 4 900 and invoice number IV-10 was received. 5 September 2022 Returned goods valued at R500 to Ketty Ltd , and received their credit note CN 10. 7 September 2022 Made credit purchases from Ketty Ltd R 6 000.and invoice number IV 11 8 September 2022 Cheque payment to Ketty Ltd settled in full the outstanding amount. Cheque number R111.. 10 September 2022 Credit purchases from Fred Ltd, R 19 100 and received Invoice number IV-101 was…9 - CODE AND NAME OF THE ACCOUNT WILL BE DEBT 610 RETURNS ON SALES 1.000 191 DEDUCTIBLE VAT 180 100 CASE 1180 Which process does the registration belong to?A) The customer returns the goods he receivedB) The seller returns the goodsC) Discounting to the customerD) The business returns the goods it has receivedE) Discounting on goods sold