Homework Help - Q& XSIMS - Knox Commun x ACCT1201_S2_KCC_EX XPREDE FINANCIAL ACCOUNT XFLFFile C:/Users/dioni/Downloads/FINANCIAL%20ACCOUNTING%201%20SEC%20B%20FINALS.pdf+ QCD Page view A Read aloudAdd textDrawHighlightQuestion 1The Right Place Enterprise is a liquor store in the Caribbean. It sells on credit and purchasesgoods on credit. The following information was taken from its books at the end of 2021 June:SReceivables balance at 2021 June 01Payables balance at 2021 June 01Cash and cheques - receivablesCash and cheques — payables83 49052 800270 000170 000Discounts allowed6 350Discounts received7 700Provision for bad debts5 000Bad debts written off440Cash sales10 000Credit sales258 350Cash purchases6 000154 000Credit purchasesReturns inwards1 280Returns outwards1 600Balance in receivables ledger transferred to payables ledger 200Credit balance on receivables ledger1 000LEAlarA.Prepare the Sales Ledger ControlAccount.B.Prepare the Purchases Ledger Control Account.C.What are THREE (3) uses of control accounts?Ow10LPOLEERBEFINANCIAL ACCOUNT X +LELB10700海江田#000Erase 8TOULOSARI89999999166%9UBB69TO BOTH

Sales Ledger Control Account Particulars Amount in $ Particulars Amount in $ To Balance b/d…

Answered: S eivables ledge te on receivables led…

S eivables ledge te on receivables led Prepare the Sales Ledger Control Accou Prepare the Purchases Ledger Control Account. THREE (3) uses of control accounts? 10

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter4: Posting To A General Ledger

Section4.3: Posting Column Totals From A Journal To A General Ledger

Problem 1OYO

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5points eBookHintReferences Check my workCheck My Work button is now enabled Item1 Oroblanco Company has prepared consolidated financial statements for the current year and is now gathering information in connection with the following five operating segments it has identified. (Figures are in thousands.) Accounts Company Total Books Computers Maps Travel Finance Sales to outside parties $ 1,735 $ 191 $ 752 $ 447 $ 345 $ 0 Intersegment sales 559 43 290 58 168 0 Interest income—external 130 74 0 0 0 56 Interest income—intersegment loans 166 0 0 0 0 166 Assets 3,715 256 1,473 298 353 1,335 Operating expenses 1,560 134 868 297 209 52 Expenses—intersegment sales 264 89 70 40 65 0 Interest expense—external 126 0 0 0 0 126 Interest expense—intersegment loans 223 40 90 57 36 0 Income tax expense (savings) 140 62 (22) 77 81 (58) General corporate expenses 105 - - - - - Unallocated operating costs 130 - - - - - Required: Determine the reportable…
Journal the following transactions related to the service business Tom’s Tailor Shop, owned by Tom Turnbull. Start Microsoft Excel, and open the BUS113_04_06.xlsx file from C:\ACTT1\Data\Unit_4. Click the File tab, and then click Save As. Save the file to C:\ACTT1\Student\Unit_4. October 1. Received cash from owner, Tom Turnbull, as an investment, $5,000.00. Receipt No. 1. October 9. Paid cash for insurance, $1,200.00. Check No. 1. October 13. Bought supplies on account from Sewing Essentials, $150.00. Memorandum No. 1. October 21. Sold services on account to Main Street Theater, $600.00. Sales Invoice No. 1. October 24. Paid cash for electric bill, $300.00. Check No. 2. October 31. Paid cash to owner, Tom Turnbull, for personal use, $3,000.00. Check No. 3. October 31. Received cash from sales, $2,352.00. Register Tape No. 1. Total the columns and prove and rule page 1 of the journal. Prove cash. The beginning cash balance on October 1 is zero. The balance on the next unused check…
usiness AccountingQ&A LibraryGet live help whenever you need from online tutors!Try bartleby tutor todayarrow_forward Question Asked Sep 11, 2020 1 views Jordan Shi operates a consulting firm called X, which began operations on August1. On August 31 the company's records show the following accounts and the amount of August. Cash =$25,460. Acct Receivable =$22,510; Land = $44,130 Office equipment =20,160 Office Supplies =$5,380; Acct payable =$10,370 Dividends =$ 6130 Consulting fees earned =$27,130 Rent expense =$9690 Salaries expense =$5710 Telephone expense =$1010 Miscellaneous expense =$ 620 Common stock =$103,300 Use the above information to prepare an August statement of retained ernigs for the company.(Net income for August is $10,100) Get live help whenever you need from online tutors!Try bartleby tutor todayarrow_forward Question Asked Sep 11, 2020 1 views Jordan Shi operates a consulting firm called X, which began operations on August1. On August 31 the…
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Nicole’s Getaway Spa (NGS) continues to grow and develop. Nicole is now evaluating a computerized accounting system and needs your help in understanding how source documents informaccounting processes. She also needs some help reconciling NGS’s bank account.Required:1. For each source document shown below, prepare the appropriate journal entry or indicate thatno journal entry is required.a. Purchase order dated October 13 for massage chairs costing $765 and oil suppliescosting $240.
Ma1. Question 11. Which of the following is not a catetory found in the Content Pane of Dynamics GP? Options: A.Cards B.Inquiry C.Print D.Reports Question 12. The typical size of a business that is most likely to use MS Dynamics GP is options: A.Fewer than 50 employees B.250-500 employees C.2500 - 5000 employees D.More than 5000 employees Question 13. Which of the following features allows you to view information about a customer and then begin entering an invoice for that customer? options: A.Lists B.Reports C.Inquiry D.SmartLists Question 14. Which of the following statements is not true regarding the Navigation Pane? options: A.You can choose not to show specific series/functions on the Navigation Pane B.You can change the order in which series/function areas appear on the Navigation Pane C.If you hide a series/function so it doesn’t appear on the Navigation Pane, it is removed from your Dynamics GP system D.It can be hidden in order to make the Content area larger…
Parts wriiten Subparts to be solve are the ones to be solved Question Requirement 1For each of the following transactions make the required entries in the General Journal:(See the General Ledger tab in the workbook Chapter 03 b - Problem 3-1 Forms for the accounts in OPJ’s accounting system.)Feb 01 Take $4,000 cash out of Big Bank to pay for February’s warehouse rent.Feb 04 Sale of inventory to a customer – selling price $62,000 – cost of inventory sold $16,000 – customer paid cash which was deposited in Big Bank.Feb 07 Take $10,000 cash out of Little Bank to pay employees for wages they have earned.Feb 15 Sale of inventory to a customer – selling price $88,000 – cost of inventory sold $22,000 – customer will pay in the future.Feb 18 Sale of inventory to a customer – selling price $110,000 – cost of inventory sold $28,000 – customer pays $40,000 cash which is deposited in Little Bank – customer will pay for the remaining amount of the sale in 30 days.Feb 22 Purchase additional…
eBook Show Me How Video Question Content Area Accounting Equation The total assets and total liabilities for a recent year of Best Buy (BBY) and Gamestop (GME) are shown below. Best Buy (in millions) Gamestop (in millions) Assets $22,022 $7,906 Liabilities 14,535 4,325 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Determine the stockholders' equity of each company. Best Buy $fill in the blank 2 million Gamestop $fill in the blank 3 million
Open the file MASTER from the website for this book at cengagebrain.com. Enter all the formulas where indicated on the worksheet. Check to be sure that your balance sheet balances. Enter your name in cell A1. Save the completed file as MASTER2. Print the worksheet when done. Also print your formulas using fit-to-1 page scaling. Check figures: Borrowing (cell B78), $7,280; forecasted net income (cell D95), $40,200; total assets (cell D105), $507,600.
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 account
I need help filling in my spreadsheet and I have looked up in the library but everyone's answer are coming out wrong. Can you please help me because this is due tomorrow. Company Accounting Workbook Template Spreadsheet https://learn.snhu.edu/content/enforced/1059513-ACC-201-R5781-OL-TRAD-UG.22EW5/Course%20Documents/ACC%20201%20Company%20Accounting%20Workbook%20Template.xlsx?_&d2lSessionVal=z4RVl9IawPfmsxCM81JBkzX5v&ou=1059513 Accounting Data Appendix Word Document. https://learn.snhu.edu/content/enforced/1059513-ACC-201-R5781-OL-TRAD-UG.22EW5/Course%20Documents/ACC%20201%20Accounting%20Data%20Appendix%201.docx?_&d2lSessionVal=z4RVl9IawPfmsxCM81JBkzX5v&ou=1059513
Before you begin this assignment, review the Tying it All Together feature in the chapter. It will also be helpful if you review TravelCenters of America LLC’s 2075 annual report</i> (https://www.sec.gov/Archives/edgar/data/1378453/000137845316000040/a2015123110k.htm). TravelCenters of America LLC is the largest full-service travel center company in the United States, serving both professional drivers and motorists. Since 2011, the company’s growth strategy has been to acquire additional travel center and convenience center locations. In addition to agreements entered into in 2015, the company acquired 3 travel centers and 170 convenience centers for a total purchase price of $320.3 million. Requirements Using the payback method, suppose TravelCenters of America expect to receive an annual net cash inflow of $32.03 million per year. How many years would it take to pay back the initial investment? What are some disadvantages to using the payback method? Why would a company, such…