Solve the new balance given the Statement of Account. Key in your answer without unit, space or punctuation rounded in two decimal place Previous Statement Balance $800.00 Payments $100 New Purchases $7,500.79 Balance Transfer and Access Cheques $1,200.00 Cash Advance $0.00 Interest $12 Fees $216 Subtotal $8,929.57

Solve the new balance given the Statement of Account. Key in your answer without unit, space or punctuation rounded in two decimal place Previous Statement Balance $800.00 Payments $100 New Purchases $7,500.79 Balance Transfer and Access Cheques $1,200.00 Cash Advance $0.00 Interest $12 Fees $216 Subtotal $8,929.57

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter3: Setting Up A New Company

Section: Chapter Questions

Problem 3.6C

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Sold goods for $650, credit terms net 30 days. Which journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal
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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
T-Account Formulas Please provide the formulas (Typed out and not in an Excel Sheet) and answers to the following problems. DEBIT SIDE OF T-ACCOUNTS 1) Find Beginning Balance CASH Debit Side 1/1 Beginning Balance UNKNOWN 1/3 Transaction A 2,500 1/15 Transaction B 4,000 1/28 Transaction E 3,400 Ending Balance 9,800 Credit Side 1/16 Transaction C 4,500 1/20 Transaction D 2,200 1/29 Transaction F 3,500 Problem 2) Find Ending Balance INVENTORY Debit Side 4/1 Beginning Balance 40,000 4/15 Transaction B 5,000 Ending Balance UNKNOWN Credit Side 4/9 Transaction A 8,000 4/28 Transaction C 25,000 SELLING EXPENSE Problem 3) Find Credit Amount Debit Side Beginning Balance 0 1/5 Transaction A 1,500 1/13 Transaction B 6,000 1/28 Transaction C 8,700 Ending Balance 14,700 Credit Side 1/9 Transaction D UNKNOWN INTEREST EXPENSE Problem 4) Find Debit Amount Debit Side 8/1 Beginning Balance 800 8/7 Transaction A UNKNOWN8/14 Transaction B 500 Ending Balance 1,800 Credit Side No…
T. Nix, Capital$ 128,300Cost of goods sold$ 108,900T. Nix, Withdrawals7,000Depreciation expense11,600Sales183,000Salaries expense39,000Sales discounts4,200Miscellaneous expenses5,000Sales returns and allowances5,200 1. Record the entry to close the income statement accounts with credit balances. 2. Record the entry to close the income statement accounts with debit balances. 3. Record the entry to close the Income Summary account. 4. Record the entry to close the Withdrawals account.
Let's select two accounts from an Adjusted Trial Balance: Accounts receivable (Dr. balance $12,000) and Fees earned (Cr. blance $150,000). What will be the balance in each account after closing entries are posted? Accounts receivable $ Fees earned $
Consider the recorded transactions below. Debit Credit 1. Accounts Receivable..................................... 8,400 Service Revenue....................................... 8,4002. Supplies......................................................... 2,300 Accounts Payable .................................... 2,3003. Cash............................................................. 10,200 Accounts Receivable................................ 10,2004. Advertising Expense...................................... 1,000 Cash.............................................................. 1,0005. Accounts Payable........................................... 3,700 Cash.............................................................. 3,7006.…
Reversing Entries Gimbel's Gifts and GadgetsEnd-of-Period SpreadsheetFor Year Ended December 31, 20-1 TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash 16,000.00 16,000.00 Accounts Receivable 11,200.00 11,200.00 Merchandise Inventory 60,000.00 (b) 68,000.00 (a) 60,000.00 68,000.00 Estimated Returns Inventory 2,560.00 (e) 3,440.00 (d) 2,560.00 3,440.00 Supplies 6,400.00 (f) 3,760.00 2,640.00 Prepaid Insurance 4,320.00 (g) 1,280.00 3,040.00 Land 104,000.00 104,000.00 Building 200,000.00 200,000.00 Accum. Depr.—Building 80,000.00 (h) 10,000.00 90,000.00 Store Equipment 80,000.00 80,000.00 Accum. Depr.—Store Equipment 32,000.00 (i) 4,000.00 36,000.00 Accounts Payable 7,680.00 7,680.00 Customer Refunds Payable 2,800.00 (c) 1,760.00 4,560.00 Wages Payable (j) 2,800.00…
Let's select two accounts from an Adjusted Trial Balance: Accounts receivable (Dr. balance $12,000) and Fees earned (Cr. balance $150,000). What will be the balance in each account after closing entries are posted? Accounts receivable and Fees Earned
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 2019
A. Calculate the ending balance for each account. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Assets Liabilities Owner’s Equity Cash Inventory Equipment AccountsPayable WagesPayable CommonStock RetainedEarnings 1 $50,000 $50,000 2 (6,000) $6,000 3 $25,000 $25,000 4 1,250 $1,250 5 (750) (750) 6 600 (600) 7 $3,500 (3,500) 8 3,200 3,200 9 250 (250) 10 (1,000) 1,000 Ending Balance $ $ $ $ $ $ $ $ $ B. Create the income statement. Use minus sign to indicate the loss. Pancake Palace Income Statement For the Month Ended July 31 $ $ C. Create the statement of owner’s equity. If an amount box requires a zero, enter "0". For those boxes in which you must enter subtractive or negative numbers use a minus sign. Pancake Palace Statement of Owner's Equity…
1. Prepare a trial balance based on the balances of these ledger accounts. Dr Cash A/C Cr Date Particulars Amount Date Particulars Amount 01-Sep To Capital Stock $7,050 02-Sep By Prepaid Rent $3,600 04-Sep To Unearned Fees $3,500 03-Sep By Prepaid Insurance $1,500 06-Sep To Accounts Receivables $800 10-Sep By Advertisement expense $120 17-Sep To Accounts Receivables $2,100 12-Sep By Accounts Payable $800 24-Sep To Fees Earned $1,850 13-Sep By Salary Expenses $400 25-Sep To Accounts Receivables $1,300 18-Sep By Supplies $750 30-Sep To Accounts Receivables $1,050 27-Sep By Salary expense $400…

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bartleby, a Learneo, Inc. business

Previous Statement Balance	$800.00
Payments	$100
New Purchases	$7,500.79
Balance Transfer and Access Cheques	$1,200.00
Cash Advance	$0.00
Interest	$12
Fees	$216
Subtotal	$8,929.57