Zuhoor Muscat Company is a manufacturer of miniature security cameras. On 31 March 2021, the following balances are shown in its ledger accounts after adjustments: Cash: RO 3,425; Wages Payable: RO 440; Office Equipment: RO 51,650; Accumulated Depreciation - Office Equipment: RO 14,650; Accounts Receivable: RO 8,000;: Patents: RO 2,000; Unearned Fees: RO 750; Share Capital: RO 47,000: Accounts Payable: RO 925; Supplies: RO 380; Retained Earnings: RO 995; and Prepaid Insurance RO 305; Notes Payable: RO 1,000. The total amount of currents assets appearing in the Statement of Financial Position on 31 March 2021 is: O a. RO 12,652 O b. RO 13,011 Oc. RO 12,110 O d. RO 13,725 O e. None of the options are correct

Zuhoor Muscat Company is a manufacturer of miniature security cameras. On 31 March 2021, the following balances are shown in its ledger accounts after adjustments: Cash: RO 3,425; Wages Payable: RO 440; Office Equipment: RO 51,650; Accumulated Depreciation - Office Equipment: RO 14,650; Accounts Receivable: RO 8,000;: Patents: RO 2,000; Unearned Fees: RO 750; Share Capital: RO 47,000: Accounts Payable: RO 925; Supplies: RO 380; Retained Earnings: RO 995; and Prepaid Insurance RO 305; Notes Payable: RO 1,000. The total amount of currents assets appearing in the Statement of Financial Position on 31 March 2021 is: O a. RO 12,652 O b. RO 13,011 Oc. RO 12,110 O d. RO 13,725 O e. None of the options are correct

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 6AP

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Zuhoor Muscat Company is a manufacturer of miniature security cameras . On 31 March 2021 , the following balances are shown in its ledger accounts after adjustments : Cash : RO 3,425 ; Wages Payable : RO 440 ; Office Equipment : RO 51,650 ; Accumulated Depreciation - Office Equipment : RO 14,650 ; Accounts Receivable : RO 8,000 ; Patents : RO 2,000 Unearned Fees : RO 750 ; Share Capital : RO 47,000 ; Accounts Payable : RO 925 ; Supplies : RO 380; Retained Earnings : RO 995 ; and Prepaid Insurance RO 305 ; Notes Payable : RO 1,000 . The total assets appearing in the Statement of Financial Position on 31 March 2021 is : a . RO 65,760 b RO 63,507 C . RO 51,110 d. RO 49,110 e . None of the options are correct
Zuhoor Muscat Company is a manufacturer of miniature security cameras. On 31 March 2021, the following balances are shown in its ledger accounts after adjustments Cash: RO 3.425: Wages Payable: RO 440; Office Equipment: RO 51,650, Accumulated Depreciation Office Equipment: RO 14,650, Accounts Receivable: RO 8,000, Patents: RO 2,000, Unearned Fees: RO 750: Share Capital RO 47,000; Accounts Payable: RO 925; Supplies: RO 380: Retained Earnings: RO 995; and Prepaid insurance RO 305: Notes Payable: RO 1.000. The total assets appearing in the Statement of Financial Position on 31 March 2021 is
Zuhoor Muscat Company is a manufacturer of thermal imaging cameras . On 31 March 2021, the following balances are shown in its ledger accounts after adjustments : Cash : RO 3,425 ; Wages Payable : RO 440; Office Equipment : RO 51,650 Accumulated Depreciation - Office Equipment : RO 14,650 ; Accounts Receivable : RO 8,000 ; Patents : RO 2,000; Fees Income : RO 60,625 ; Wages Expense : RO 22,855 Depreciation Expense : RO 4,950 ; Rent Expense : RO 4,200; Utilities Expense : RO 2,715 ; Supplies Expense : RO 890; Insurance Expense : RO 315; Miscellaneous Expense : RO 1,505; Unearned Fees: RO 750 ; Share Capital : RO 47,995 ; Accounts Payable : RO 925 ; Supplies : RO 380; Prepaid Insurance RO 305; Notes Payable : RO 1,000 ; Retained Earnings 1 April 2020 : RO ; Dividends : RO 5,490. The ending balance on Retained Earnings on 31 March 2021 is: a RO 18,205 b. RO 16,507 O c of the options are correct d. RO 17,705 RO e. RO 17,995
Zuhoor Muscat Company is a manufacturer of thermal imaging cameras. On 31 March 2021, the following balances are shown in its ledger accounts after adjustments: Cash: RO 3,425; Wages Payable: RO 440, Office Equipment: RO 51,650 Accumulated Depreciation - Office Equipment: RO 14,650; Accounts Receivable: RO 8,000; Patents: RO 2,000; Fees Income: RO 55,987; Wages Expense: RO 22,900: Depreciation Expense: RO 4,950; Rent Expense: RO 4,399; Utilities Expense: RO 2,815; Supplies Expense: RO 800; Insurance Expense: RO 400; Miscellaneous Expense: RO 1,632. Unearned Fees: RO 750; Share Capital: RO 47,995; Accounts Payable: RO 925; Supplies: RO 380; Prepaid Insurance RO 305: Notes Payable: RO 1,000; Retained Earnings 1 April 2020: RO 0. The total equity reported in the Statement of Financial Position on 3i March 2021 is:e
Zuhoor Muscat Company is a manufacturer of thermal imaging camerasOn 31 March 2021, the following balances are shown in its ledger accounts after adjustments: Cash: RO 3,425; Wages Payable: RO 440; Office Equipment: RO 51,650; Accumulated Depreciation - Office Equipment: RO 14,650; Accounts Receivable: RO 8,000; Patents: RO 2,000; Fees Income: RO 60,625 ; Wages Expense: RO 22,855; Depreciation Expense: RO 4,950; Rent Expense: RO 4,200; Utilities Expense: RO 2.715Supplies Expense: RO 890; Insurance Expense: RO 315; Miscellaneous Expense: RO 1,505; Unearned Fees : RO 750; Share Capital: RO 47,995Accounts Payable: RO 925; Supplies: RO 380; Prepaid Insurance RO 305; Notes Payable: RO 1, 000 ; Retained Earnings 1 April 2020: RO Dividends : RO 5,200. The ending balance on Retained Earnings on 31 March 2021 is :
The following is the Trial Balance of docutech Ltd, a dealer in ICT Equipment, as at 31st December, 2021. GHS GHS Capital 240,000 Receivables and Payables 159,000 51,000 Inventory 99,000 Motor vehicles: (cost) 72,500 Accumulated depreciation (31 December 2020) 32,500 Office equipment: (cost) 90,000 Accumulated depreciation (31 December 2020) 30,000 Administrative expenses 26,000 Purchases and sales 243,750 490,500 Employee benefits 33,000 Selling expenses 20,000 Plant: (cost) 125,000 Accumulated depreciation (31 December 2020) 37,500 Discounts 7,500 12,500 Accruals 79,000…
Tran Company acquired an equipment from a manufacturer on June 30, 2018 and signed a $540,000, 18 month interest-bearing note in exchange. The company is obligated to pay a total of $562,500 when the note matures. Determine accrued interest on December 31, 2018? C. $7,500 is the Answer. Please explain how you get to this answer and explain math computation thoroughly.
On March 1, the Applewood Corporation wanted to purchase a $475,000 piece of equipment, but Applewood was only able to furnish $161,500 of its own cash to purchase the equipment. Applewood borrowed the remainder of the $475,000 from the People’s National Bank on a 2-year, 5.5% note. Required: If the company keeps its records on a calendar year, what adjusting entry should Applewood make on December 31? If an amount box does not require an entry, leave it blank. When required, round your answers to the nearest dollar. Dec. 31 fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 (Record accrued interest expense)
On December 1, 2022, Sheridan Distributing Company had the following account balances. Debit Credit Cash $7,500 Accumulated Depreciation—Equipment $2,640 Accounts Receivable 4,900 Accounts Payable 4,500 Inventory 12,200 Salaries and Wages Payable 1,000 Supplies 1,300 Owner’s Capital 44,160 Equipment 26,400 $52,300 $52,300 During December, the company completed the following summary transactions. Dec. 6 Paid $1,800 for salaries and wages due employees, of which $800 is for December and $1,000 is for November salaries and wages payable. 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,500. The cost of the merchandise sold was $3,900. 13 Purchased merchandise on account from Boehm Co. $9,000, terms 2/10, n/30. 15 Purchased supplies for cash $1,600. 18 Sold merchandise on account $12,800, terms 3/10,…
On December 1, 2022, Sheridan Distributing Company had the following account balances. Debit Credit Cash $7,500 Accumulated Depreciation—Equipment $2,640 Accounts Receivable 4,900 Accounts Payable 4,500 Inventory 12,200 Salaries and Wages Payable 1,000 Supplies 1,300 Owner’s Capital 44,160 Equipment 26,400 $52,300 $52,300 During December, the company completed the following summary transactions. Dec. 6 Paid $1,800 for salaries and wages due employees, of which $800 is for December and $1,000 is for November salaries and wages payable. 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,500. The cost of the merchandise sold was $3,900. 13 Purchased merchandise on account from Boehm Co. $9,000, terms 2/10, n/30. 15 Purchased supplies for cash $1,600. 18 Sold merchandise on account $12,800, terms 3/10,…
On December 1, 2022, Sheridan Distributing Company had the following account balances. Debit Credit Cash $7,500 Accumulated Depreciation—Equipment $2,640 Accounts Receivable 4,900 Accounts Payable 4,500 Inventory 12,200 Salaries and Wages Payable 1,000 Supplies 1,300 Owner’s Capital 44,160 Equipment 26,400 $52,300 $52,300 During December, the company completed the following summary transactions. Dec. 6 Paid $1,800 for salaries and wages due employees, of which $800 is for December and $1,000 is for November salaries and wages payable. 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,500. The cost of the merchandise sold was $3,900. 13 Purchased merchandise on account from Boehm Co. $9,000, terms 2/10, n/30. 15 Purchased supplies for cash $1,600. 18 Sold merchandise on account $12,800, terms 3/10,…
On December 1, 2022, Sheridan Distributing Company had the following account balances. Debit Credit Cash $7,500 Accumulated Depreciation—Equipment $2,640 Accounts Receivable 4,900 Accounts Payable 4,500 Inventory 12,200 Salaries and Wages Payable 1,000 Supplies 1,300 Owner’s Capital 44,160 Equipment 26,400 $52,300 $52,300 During December, the company completed the following summary transactions. Dec. 6 Paid $1,800 for salaries and wages due employees, of which $800 is for December and $1,000 is for November salaries and wages payable. 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,500. The cost of the merchandise sold was $3,900. 13 Purchased merchandise on account from Boehm Co. $9,000, terms 2/10, n/30. 15 Purchased supplies for cash $1,600. 18 Sold merchandise on account $12,800, terms 3/10,…