DebitCreditCash44,000Prepaid Insurance8,400A/R7,000Truck85,000Accum, Deprec. Truck25,000Accounts Payable,13,100Unearned Fees3,920Notes Payable Use the information in the table below to answer the questions that follow.Аpril 1Inventory100 units@ $40Sale60 units10Purchase40 units$4215Sale50unitsPurchase60 units$45Assuming the business maintains a perpetual inventory system, calculate the cost of merchandise sold on April 5as well as ending inventory as of April 30th, using FIFO,Enter as whole numbers! Do not use decimals or dollar signs.COMS April 5h $COMS April 15th $Ending Inventory April 30th $20

Name: DebitCreditCash44,000Prepaid Insurance8,400A/R7,000Truck85,000Accum,
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Description: DebitCreditCash44,000Prepaid Insurance8,400A/R7,000Truck85,000Accum, Deprec. Truck25,000Accounts Payable,13,100Unearned Fees3,920Notes Payable Use the information in the table below to answer the questions that follow.Аpril 1Inventory100 units@ $40S

Ending Inventory=Units available-Units Sold×Cost per unit

Business

Accounting

Use the information in the table below to answer the questions that follow. April 1 Inventory 100 units $40 5. Sale 60 units 10 Purchase 40 units $42 15 Sale 50 units 20 Purchase 60 units $45 Assuming the business maintains a perpetual inventory system, calculate the cost of merchandise sold on April 5 as well as ending inventory as of April 30th, using FIFO. Enter as whole numbers! Do not use decimals or dollar signs. COMS April 5th $ COMS April 15th $ Ending Inventory April 30th $

Use the information in the table below to answer the questions that follow. April 1 Inventory 100 units $40 5. Sale 60 units 10 Purchase 40 units $42 15 Sale 50 units 20 Purchase 60 units $45 Assuming the business maintains a perpetual inventory system, calculate the cost of merchandise sold on April 5 as well as ending inventory as of April 30th, using FIFO. Enter as whole numbers! Do not use decimals or dollar signs. COMS April 5th $ COMS April 15th $ Ending Inventory April 30th $

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter2: Basic Accounting Systems: Cash Basis

Section: Chapter Questions

Problem 2.6P: Financial statements Alpine Realty. Inc., organized July 1. 20Y8, is operated by Angela Griffin. How...

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Cajegas Trucking ServicesTrial BalanceJune 30, 2021Debit CreditCash in Bank P 1,020,000Petty Cash Fund 1,000Accounts Receivable 120,000Est. Uncollectible Account P 1,200Unused Supplies 15,000Prepaid Insurance 8,500Prepaid Rent 30,000Delivery Truck 1,500,000Acc. Depreciation – Delivery Truck 250,000Accounts Payable 130,000P. Cagejas, Capital 1,818,500P. Cagejas, Drawings 50,000Trucking Income 935,000Taxes and Licences 10,000Repairs and Maintenance 27,000Retainer Fees 25,000Salaries and Wages 320,000Utilities Expense 8,200Total P 3,134,700 P 3,134,700Additional Information1. Provision for Uncollectible Account should be at 2% of the outstanding receivable account.2. Supplies actually on hand, P5,000.3. Of the Prepaid Insurance, P6,200 has actually expired.4. P18,000 of the Prepaid Rental has expired.5. Depreciation Expense for the period is P105,000.Required:a. An 8-column worksheetb. Balance Sheetc. Income Statementd. Statement of Changes in Owner’s Equity
Life-Positive’s Account Balances 2021 ($) 2022 ($) accounts payable 24,600.00 21,250.00Accounts receivable 15,700.00 12,340.00Cash 23,450.00 28,600.00Cost of goods sold 19,700.00 23,000.00Depreciation 3,090.00 4,590.00Dividends 5,800.00 10,800.00Interest 2,340.00 2,890.00Inventory 7,050.00 8,640.00Long-term debt 28,000.00 30,000.00Net fixed assets 41,500.00 48,000.00Other expenses 2,400.00 2,800.00Sales 58,000.00 62,500.00Short-term Notes Payable 2,890.00 2,340.00Shares outstanding 85,000.00 90,000.00 tax rate is 32% 4. Calculate the cash flow from assets, cash flow to creditors,and cash flow to stockholders…
Answers: a) Present due b) 224 paymenrs weekly c) $199.20 d) 0.142 e) $95000
Paid premium by cheque R300. I answered it the following way: Asset:cash liability: Insurance premium -R300 DR -R300 CR Is my anwser correct? This is an accounting equation question
42.The following data were available for ABC Company, which uses perpetual system, at Dec 31, 20X2:Accounts Payable, beg P15,000Accounts Payable, end P10,000Inventory, beg P17,000Inventory, end P9,000Cash payment to creditors(net of 2% discount) 294,000Purchase returns, P5,000How much were the credit purchases during the period? 285,000 294,000 300,000 315,000
T. Nix, Capital$ 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.
14 - Entity A sold its registered $ 1000 at a rate of 4.60 TL at a rate of 4.65 TL. Which of the following accounts is correct in the journal entry to be made?A) 100 02 DOLLAR CASH ACCOUNT RECEIVABLE 4600 TLB) NoneC) 656 EXCHANGE LOSS ACCOUNT DEBTED 150 TLD) 100 01 TL CASH ACCOUNT RECEIVABLE 4.650 TL E) BORROWED 646 EXCHANGE PROFIT ACCOUNT 50 TL
Bought delivery van P850,000 terms 20% down and the balance payable in oneyear. Required: 1. Record the transaction in the general journal.
Amount financed 18200 number of payments 72 monthly payment 425.08 finace charge 12405.76 whats the apr%
PARRISH 4-12 LEDGER POSTINGSAccounts Payable $500Accounts Receivable $1000Accumulated Depreciation, Equipment $500Cash $600Common Stock $1200Depreciation Expense, Equipment $0Equipment $2300Insurance Expense $0Inventory $2000Prepaid Insurance $600Retained Earnings $2800Service Fee Revenues $3500Supplies $700Supplies Expense $0Wages Expense $1300Wages Payable $0 Please 1) Give the ledger name 2) Include a description 3) and if it is a debit or credit, and what the balance is. I DO NOT NEED TO KNOW WHAT FINANCIAL STATEMENT THE TRANSACTION GO ON. Please refer to the attachment to see what the answser boxes look like. I need the answers in that format. Thank you.
The following information is provided to you by Amos 31st December 2014 31st December 2015 Shs. ShsWages in arrears 60,000 67,000Insurance paid in advance 21,000 25,500Rates in arrears 7,500 NILRates in advance NIL 9,000Payments made during 2015 were; Wages Kshs. 715,000 Insurance Kshs. 43,500 Rates Kshs. 46,000 Calculate the amounts Amos should transfer to the profit and loss account for wages, insurance and rates for the year 2015.Prepare the Balance sheet extract.
information to answer question 5. Cash R10 000 Accounts receivable(debtors control) R30 000 Inventory R80 000 Prepaid insurance R 6 000 Fixed assets R200 000 Accounts payable (creditors control) R30 000 Income received in advance R25 000 Wages payables R5 000 Long-term liabilities R70 000 Capital R196 000 Calculate the acid test ratio. A. 0.83:1 B. 1:1 C. 1.3:1 D. 0.76:1