Adjusted Trial BalouceParticularsCashAccoouts seceivobleDr $6700

Income statement is a statement that helps in determining the income or the profit and loss of a…

yusled Trial Balouce Particlors Cash Accoouts seceivoble Dr $ 6700 6500 Slearing supplies Prepaid Insorauce Truck 280 2000 8000 Accouelatod Debreciation Accounts payable 250 5500 Saloy payable. 1080. Comuton stocK 15000 RTained faruiugs Dividend 900 Seavice Revenue. MainTeuauce 2Repair expenses 350 8100 2peciationixpenses 250. Insurauce se expeise. Supplies xpentes Salaries expenses 400 1720 2830 29930 29930 Instructions: A) Prepare The. income STatemeut 2 a netained statement savinings classi'tied balance sheet at 3I March 3014 March 2 a

yusled Trial Balouce Particlors Cash Accoouts seceivoble Dr $ 6700 6500 Slearing supplies Prepaid Insorauce Truck 280 2000 8000 Accouelatod Debreciation Accounts payable 250 5500 Saloy payable. 1080. Comuton stocK 15000 RTained faruiugs Dividend 900 Seavice Revenue. MainTeuauce 2Repair expenses 350 8100 2peciationixpenses 250. Insurauce se expeise. Supplies xpentes Salaries expenses 400 1720 2830 29930 29930 Instructions: A) Prepare The. income STatemeut 2 a netained statement savinings classi'tied balance sheet at 3I March 3014 March 2 a

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter6: Receivables And Inventories

Section: Chapter Questions

Problem 6.2MBA: Allowance method Using transactions listed in £6-S. indicate the effects of each transaction on the...

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The adjusted trial balance for the year of SNEED Corporatioon attached in ss blow thanks for help apoprecaited rwohwtkhpotw pwtkoj
3. The following is the trial balance of Aroro Enterprise as at 31 August 2019Particulars Debit (RM) Credit (RM)Capital 48,400Drawings 3,500Trade receivables 9,000Trade payables 12,500Sales 40,400Purchases 31,000Sales returns 300Purchases returns 250Wages and salaries 5,600Discounts allowed 120Discounts received 200Provision for doubtful debts 300Insurance 700Inventory as at 1 September 2018 2,400Utilities 950Rates 350Premises 10,000Fixtures and fittings 3,000Motor van 20,000Cash in hand 330Cash at bank 14,800TOTAL 102,050 102,050Additional information as at 31 August 2019:i. Inventory as at 31 August 2019 amounted RM3,300ii. An entity from whom there is accounts receivables of RM200 was unable tosettle his debt and this amount is to be written off as bad debts.iii. The provision for doubtful debts is 1% of the outstanding trade receivables.iv. The owner took RM100 worth of goods from the business for his own useRequired:a) Statement of Profit or Loss and Others Comprehensive Income…
Use the following adjusted trial balance to answer questions 22-25.Cash $ 6,530Accounts Receivable 2,450Prepaid Expenses 880Equipment 18,490Accounts Payable 1,800Loan Payable 10,600Owner’s Equity 12,940Fees Earned 9,750Marketing Expense 1,685Rent Expense 1,960Utilities Expense 345Wages Expense 2,750Totals $35,090 $35,09022. Net income for the period is:A. $9,750B. $6,530C. $3,010D. None of these23. Total assets on the balance sheet will be:A. $35,090B. $28,350C. $9,860D. None of these24. Total liabilities on the balance sheet will be:A. $1,800B. $10,600C. $25,340D. None of these25. Owner’s Equity on the balance sheet will be $12,940.A. TrueB. False
What is the adjusting journal entry on December 31, 2019? Debit Unrealized Holding Gain/Loss (P&L), P200,000; Credit Retained Earnings, P200,000 Debit Financial Asset FVPL, P500,000; Credit Retained Earnings, P500,000 Debit Retained Earnings, P100,000; Credit Financial Asset FVPL, P100,000 Debit Retained Earnings, P300,000; Credit Unrealized Gain (P&L), P300,000 Debit Retained Earnings, P200,000; Credit Unrealized Holding Gain/Loss (P&L), P200,000 None of the choices
Question 1The following information was extracted from the financial statement of Barryfor the year ended 31 December 2020. RMSales 437,500Opening inventories 17,500Closing inventories 26,250Cost of sales 262,500Other income 3,750Expenses 61,250Current liabilities 47,250Trade receivables 39,375Bank 8,750Cash 31,500Required:(a) Show the formulae and compute the value of the following for Barry:(i) Purchases(ii) Gross profit(iii)Net Profit
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Item Prior year Current year Accounts payable 8,191.00 7,813.00 Accounts receivable 6,005.00 6,798.00 Accruals 1,036.00 1,622.00 Cash ??? ??? Common Stock 10,961.00 12,712.00 COGS 12,797.00 18,122.00 Current portion long-term debt 4,914.00 5,086.00 Depreciation expense 2,500 2,842.00 Interest expense 733 417 Inventories 4,175.00 4,807.00 Long-term debt 13,319.00 14,034.00 Net fixed assets 51,854.00 54,984.00 Notes payable 4,372.00 9,863.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,779.00 29,650.00 Sales 35,119 47,875.00 Taxes 2,084 2,775 What is the firm's total change in cash from the prior year to the current year?
Assets = _________, Liabilities + Owner’s equity = P150,000
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