Homework Answers
| Income Statement (Extract) | ||||
| Rent | ||||
| Paid | € 4,000.00 | |||
| Add: | Opening prepaid | € 500.00 | € 4,500.00 | |
| Motor expense | ||||
| Paid | € 4,000.00 | |||
| Add: | Outstanding | € 60.00 | € 4,060.00 | |
| Insurance | ||||
| Paid | € 1,650.00 | |||
| Less: | Ending prepaid | € 150.00 | € 1,500.00 | |
| Balance Sheet (Extract) | |||
| Assets | |||
| Prepaid Insurance | € 150.00 | ||
| Liabilities | |||
| Motor expense outstanding | € 60.00 | ||
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Ex. 4: - (5 marks for each correct answer). You are required to write up the...
Part 3: Financial statements - 40 marks From the following information of the accounting book of...
Part 3: Financial statements - 40 marks From the following information of the accounting book of Hope Dunn, draw up: (1) an Income statement for the year ended 31 December 2017 (in €). (2) Prepare a Balance Sheet as at 31 December 2017 (in €). 400.000 91,000 255,000 35,000 51,000 Premises Purchases Sales Fixtures and Fittings Motor Cars Allowance for Depreciation: - Fixtures and Fittings • Motor Cars Bank Stock of goods at 1st January 2017 Cash Postage expenses 16,000...
please help me to answer: 22.2A 22.3 22.4A thanks 22.24 W. Hope's year ended on 30...
please help me to answer:
22.2A
22.3
22.4A
thanks
22.24 W. Hope's year ended on 30 June 2020. Write up the ledger accounts, showing the transfers to the financial statements and the balances carried down to the next year for the following: You are required to write up the two accounts showing the appropriate amounts transferred to the income statement at 31 December 2018, the end of the financial year of the trader. year ended 31 December 2019 the information...
On December 31, 2017 the following Trial Balance was extracted from the books of Rosetta Park....
On December 31, 2017 the following Trial Balance was extracted from the books of Rosetta Park. Details/Accounts Dr Cr Capital - 151,350 Acc. Prov. for Depreciation: Fixtures and Fittings Jan. 2017 - 4,500 Acc. Prov. for Depreciation: Motor Vehicle Jan. 2017 - 4,950 Creditors - 40,500 Commission Received - 5,400 Rent Received - 18,000 Sales - 61,500 Purchases 17,400 - Office Expenses 16,000 - Miscellaneous Expenses 1,110 - Salary and Wages 11,700 - Carriage inwards 150 - Telephone Expense 360...
Question 3: (5 marks) The balances on December 31, 2017 are available for Denver Company: Accounts...
Question 3: (5 marks) The balances on December 31, 2017 are available for Denver Company: Accounts payable $2,550 Accounts receivable 3,550 Accumulated depreciation 6,250 Retained earnings, December 31, 2017 Cash 2,300 Cost of goods sold 52,300 Depreciation expense 2,500 Dividends declared 8,800 Equipment 29,000 Income tax expense 10,700 Interest expense 1,150 Inventory 6,250 Long-term potes payable 11,500 Paid-in capital 4,450 Prepaid rent 350 Rent expense 4,000 Sales 118.600 Wage expense 31,900 Wages payable 3,000 Required Prepare a classified balance sheet...
Question 3:(5 marks) The balances on December 31, 2017 are available for Denver Company: $2,550 Accounts...
Question 3:(5 marks) The balances on December 31, 2017 are available for Denver Company: $2,550 Accounts payable 3,550 Accounts receivable 6,250 Accumulated depreciation Retained earnings, December 31, 2017 2,300 Cash $2.300 Cost of goods sold 2,500 Depreciation expense 8,800 Dividends declared 29,000 Equipment 10,700 Income tax expense 1,150 Interest expense 6,250 Inventory 11,500 Long-term notes payable Paid-in capital 4,450 Prepaid rent 350 Rent expense 4,000 Sales 118,600 31900 Wage expense Wages payable 3,000 Required Prepare a classified balance sheet at...
cial Statement Preparation - 20 marks (suggested time: 36 minutes) QUESTION #6 - Financial Statement Preparation...
cial Statement Preparation - 20 marks (suggested time: 36 minutes) QUESTION #6 - Financial Statement Preparation - 20 marks (suges The adjusted trial balance of White Enamel Dental Inc. follows: White Enamel Dental Inc. Adjusted Trial Balance December 31, 2018 $14,000 11,000 4,000 171,000 100,000 Cash Accounts receivable Prepaid expenses Equipment Building Accounts payable Note payable Share capital Retained earnings Dividends Service revenue Rent expense Advertising expense Wage expense Supplies expense Total $30,000 120,000 102,000 40,000 22,000 86,000 14,000 3,000...
QUESTION 5: FINANCIAL STATEMENTS (20 marks) Listed below are the accounts and balances for Cisco Painting...
QUESTION 5: FINANCIAL STATEMENTS (20 marks) Listed below are the accounts and balances for Cisco Painting as at December 31, 2018. These are from the December 31, 2018 Adjusted Trial Balance and are listed in alphabetical ceder t e s Required: (a) Prepare an Income Statement for the year ended December 31, 2018 (6 marks) (b) Prepare a Balance Sheet at December 31, 2018 (14 marks) Accounts payable Accounts receivable Cash Cisco, Capital, Dec. 1. 2018 Depreciation expense - equipment...
Sheila is a sole trader. She pays all the sales receipts into the business bank account....
Sheila is a sole trader. She pays all the sales receipts into the business bank account. She provided her accountant with the following information for the year ended 31 December 2018 Bank account summary for the year ended 31 December 2018 DR Rent received 16 600 / Trade receivables 204 200 / Cash sales 19 510 CR Balance b/d 6 520 / Trade payables 123 460 / General expenses 24 000 / Wages 31 560 / Motor vehicles 18 200 / Equipment ...
Question 2 Tumisang Moshe, a sole trader, extracted the following trial balance from his books at...
Question 2 Tumisang Moshe, a sole trader, extracted the following trial balance from his books at the close of business on 31 July 2018 Debat Credit Purchases 65.240 137.425 Sales Capital Bank 45. 20.000 Discount allowed Returns Inwards Returns outwards Carriage inwards Rent Provision for doubtful dichts Office furniture Motor Van 12, 300 10, 500 Accounts Receivables Accounts Payables Drawings Salaries and wages General expenses Total 19,600 42.000 195,670 195,670 Additional Notes 1. Closing inventory 31 March 2017 P6,500 ii....
Consultex, Inc., was founded in 2015 as a small financial consulting business. The company had done...
Consultex, Inc., was founded in 2015 as a small financial consulting business. The company had done reasonably well in 2015–2017 but started noticing its cash dwindle early in 2018. In January 2018, Consultex had paid $12,500 to purchase land and repaid $4,000 principal on an existing promissory note. In March, the company paid $1,300 cash for dividends and $1,200 to repurchase and eliminate Consultex stock that had previously been issued for $1,200. To improve its cash position, Consultex borrowed $4,300...
Part 3: Financial statements - 40 marks From the following information of the accounting book of Hope Dunn, draw up: (1) an Income statement for the year ended 31 December 2017 (in €). (2) Prepare a Balance Sheet as at 31 December 2017 (in €). 400.000 91,000 255,000 35,000 51,000 Premises Purchases Sales Fixtures and Fittings Motor Cars Allowance for Depreciation: - Fixtures and Fittings • Motor Cars Bank Stock of goods at 1st January 2017 Cash Postage expenses 16,000...
please help me to answer:
22.2A
22.3
22.4A
thanks
22.24 W. Hope's year ended on 30 June 2020. Write up the ledger accounts, showing the transfers to the financial statements and the balances carried down to the next year for the following: You are required to write up the two accounts showing the appropriate amounts transferred to the income statement at 31 December 2018, the end of the financial year of the trader. year ended 31 December 2019 the information...
Question 3: (5 marks) The balances on December 31, 2017 are available for Denver Company: Accounts payable $2,550 Accounts receivable 3,550 Accumulated depreciation 6,250 Retained earnings, December 31, 2017 Cash 2,300 Cost of goods sold 52,300 Depreciation expense 2,500 Dividends declared 8,800 Equipment 29,000 Income tax expense 10,700 Interest expense 1,150 Inventory 6,250 Long-term potes payable 11,500 Paid-in capital 4,450 Prepaid rent 350 Rent expense 4,000 Sales 118.600 Wage expense 31,900 Wages payable 3,000 Required Prepare a classified balance sheet...
Question 3:(5 marks) The balances on December 31, 2017 are available for Denver Company: $2,550 Accounts payable 3,550 Accounts receivable 6,250 Accumulated depreciation Retained earnings, December 31, 2017 2,300 Cash $2.300 Cost of goods sold 2,500 Depreciation expense 8,800 Dividends declared 29,000 Equipment 10,700 Income tax expense 1,150 Interest expense 6,250 Inventory 11,500 Long-term notes payable Paid-in capital 4,450 Prepaid rent 350 Rent expense 4,000 Sales 118,600 31900 Wage expense Wages payable 3,000 Required Prepare a classified balance sheet at...
cial Statement Preparation - 20 marks (suggested time: 36 minutes) QUESTION #6 - Financial Statement Preparation - 20 marks (suges The adjusted trial balance of White Enamel Dental Inc. follows: White Enamel Dental Inc. Adjusted Trial Balance December 31, 2018 $14,000 11,000 4,000 171,000 100,000 Cash Accounts receivable Prepaid expenses Equipment Building Accounts payable Note payable Share capital Retained earnings Dividends Service revenue Rent expense Advertising expense Wage expense Supplies expense Total $30,000 120,000 102,000 40,000 22,000 86,000 14,000 3,000...
QUESTION 5: FINANCIAL STATEMENTS (20 marks) Listed below are the accounts and balances for Cisco Painting as at December 31, 2018. These are from the December 31, 2018 Adjusted Trial Balance and are listed in alphabetical ceder t e s Required: (a) Prepare an Income Statement for the year ended December 31, 2018 (6 marks) (b) Prepare a Balance Sheet at December 31, 2018 (14 marks) Accounts payable Accounts receivable Cash Cisco, Capital, Dec. 1. 2018 Depreciation expense - equipment...
Question 2 Tumisang Moshe, a sole trader, extracted the following trial balance from his books at the close of business on 31 July 2018 Debat Credit Purchases 65.240 137.425 Sales Capital Bank 45. 20.000 Discount allowed Returns Inwards Returns outwards Carriage inwards Rent Provision for doubtful dichts Office furniture Motor Van 12, 300 10, 500 Accounts Receivables Accounts Payables Drawings Salaries and wages General expenses Total 19,600 42.000 195,670 195,670 Additional Notes 1. Closing inventory 31 March 2017 P6,500 ii....
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