Homework Answers
| GENERAL LEDGER | |||
| ACCUMULATED DEPRECIATION ACCOUNT-EQUIPMENT | |||
| $ | $ | ||
| 30 June,2019 | 2,160 | ||
| ACCUMULATED DEPRECIATION ACCOUNT-MOTOR VEHICLE | |||
| $ | $ | ||
| 30 June ,2019 | 7,000 | ||
| ALLOWANCE FOR DOUBTFUL DEBTS | |||
| $ | $ | ||
| 30 June,2019 | 100 | ||
| ADVERTISING ACCOUNT | |||
| $ | $ | ||
| 30 June,2019 | 3,000 | ||
| SALES ACCOUNT | |||
| $ | $ | ||
| 30 June,2019 | 1,30,695 | ||
| CAPITAL ACCOUNT | |||
| $ | $ | ||
| 30 June,2019 | 31,600 | ||
| CASH AT BANK ACCOUNT | |||
| $ | $ | ||
| 30 June,2019 | 8,400 | ||
| ACCOUNT PAYABLE ACCOUNT | |||
| $ | $ | ||
| 30 June,2019 | 4,500 | ||
| ACCOUNT RECEIVABLE | |||
| $ | $ | ||
| 30 June,2019 | 9,000 | ||
| DRAWINGS ACCOUNT | |||
| $ | $ | ||
| 30 June,2019 | 5,400 | ||
| EQUIPMENT ACCOUNT | |||
| $ | $ | ||
| 30 June,2019 | 32,200 | ||
| GST COLLECTED | |||
| $ | $ | ||
| 30 June,2019 | 3,560 | ||
| GST PAID | |||
| $ | $ | ||
| 30 June,2019 | 2,165 | ||
| RESIDENTIAL RENT RECEIVED | |||
| $ | $ | ||
| 30 June,2019 | 11,500 | ||
| LOAN TO MARTHA STEWARD | |||
| $ | $ | ||
| 30 June,2019 | 10,000 | ||
| MOTOR VEHICLE -AT COST | |||
| $ | $ | ||
| 30 June,2019 | 22,000 | ||
| PROVISION FOR ANNUAL LEAVE | |||
| $ | $ | ||
| 30 June,2019 | 500 | ||
| PURCHASE OF INVENTORY | |||
| $ | $ | ||
| 30 June,2019 | 54,000 | ||
| INSURANCE | |||
| $ | $ | ||
| 30 June,2019 | 2,600 | ||
| REPAIRS & MAINTENANCE-EQUIPMENT | |||
| $ | $ | ||
| 30 June,2019 | 1,450 | ||
| OFFICE EXPENSE | |||
| $ | $ | ||
| 30 June,2019 | 6,400 | ||
| WAGES | |||
| $ | $ | ||
| 30 June,2019 | 30,000 | ||
| NOTE: | |||
| 1. Opening stock do not have any ledger. | |||
Add Answer to:
task 2.1 prepare the general ledger by entering the opening
balances from trial balance
Micro Systems...
task 2.1. prepare the general ledger by enetring the opening balanc from trial balane Task 1.3...
task 2.1. prepare the general ledger by enetring the opening balanc
from trial balane
Task 1.3 - Prepare a depreciation schedule for 30/6/2019 Using the information that you prepared in your assets registers please compie depreciation schedule for the year ended 30/6/2019, located in the excel file u depreciation Sch tab ted in the excel file under the When you have finished, save the file. Part 2 - Preparation of final accounts For Part 2 of this case study you...
The following is a Trial Balance from the ledger of Celine & Co. for the year...
The following is a Trial Balance from the ledger of Celine & Co. for the year ended 30 June 2018. Also, a stock take was done on the 30th June 2018, showing closing inventory of $128,000. The closing inventory has not yet been entered into the journals. Required: a) Prepare a properly formatted Income Statement. b) Prepare a properly formatted Balance Sheet. Trial Balance Workings Workings Dr Cr 1 920,000 780,000 380,000 248,000 52,000 280,000 4,400,000 152,000 3,560,000 672,000 144,000...
Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the...
Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries. (Post entries in the order of journal entries posted in the previous part of the question.) Cash Date No. 101 Balance Debit Ref. Credit Explanation May 31 Balance Supplies Date No. 126 Balance Explanation Ref. Debit Credit May 31 Balance May 31 Adjusting Prepaid Insurance Date Explanation No. 130 Balance Credit May 31 Balance May 31...
prepare financial reports Task 2.2 - Prepare General Journal entries to record the balance day adjustments...
prepare financial reports
Task 2.2 - Prepare General Journal entries to record the balance day adjustments as at 30th June 2019 and post to the General Ledger, Task 2.3 - Prepare General Journal entries to close the relevant ledgers on 30th June 2019 and post to the General Ledger. ask 2.4 - Prepare a post-closing Trial Balance as at 30th June 2019 Additional Information at 30 June 2019: Balance Day Adjustments 1. John has engaged an advertising firm at a...
prepare financial reports Prepare Financial Reports Revision Wow is a Trial Balance for SC T e...
prepare financial reports
Prepare Financial Reports Revision Wow is a Trial Balance for SC T e ase complete the following a) A Worksheet b) A Classified Income Statement c) A Classified Balance Sheet SCB Trading Trial Balance as at 30th June 2018 DR 8090 16467 5193 980 50200 10000 70740 52624 6000 Account Cash At Bank Accounts Receivable Stock (1 July 2017) GST Paid Land Delivery Vehicle Plant Accumulated Dep - Plant Shares in ABC Pty Ltd Accounts Payable GST...
Required: a) Prepare a properly formatted Income Statement. b) Prepare a properly formatted Balance Sheet. Trial...
Required: a) Prepare a properly formatted Income Statement. b) Prepare a properly formatted Balance Sheet. Trial Balance Workings Dr Cr 460,000 390,000 190,000 124,000 42,000 140,000 2,200,000 72,000 1780,000 336,000 Land and Buildings Shop Fittings Acc Depn-Shop Fittings Bank Overdraft Office Furniture & Equipment Accounts Receivable Sales Inventory (Opening) Purchases ANZ Long-Term Loan Wages Accounts Payable GST Collected GST Paid Capital (opening) Insurance Office Expenses Bad Debts Drawings Customs Duty Depreciation 60,000 80,000 58,000 64,000 200,000 10,000 22,000 4,000 36,000...
Required: a) Prepare a properly formatted Income Statement. b) Prepare a properly formatted Balance Sheet. Trial...
Required: a) Prepare a properly formatted Income Statement. b) Prepare a properly formatted Balance Sheet. Trial Balance Workings Dr Cr 460,000 390,000 190,000 124,000 42,000 140,000 2,200,000 72,000 1780,000 336,000 Land and Buildings Shop Fittings Acc Depn-Shop Fittings Bank Overdraft Office Furniture & Equipment Accounts Receivable Sales Inventory (Opening) Purchases ANZ Long-Term Loan Wages Accounts Payable GST Collected GST Paid Capital (opening) Insurance Office Expenses Bad Debts Drawings Customs Duty Depreciation 60,000 80,000 58,000 64,000 200,000 10,000 22,000 4,000 36,000...
SE2-8. Prepare a Trial Balance The following balances were taken from the general ledger of Howse...
SE2-8. Prepare a Trial Balance The following balances were taken from the general ledger of Howse Corporation as of December 31. All balances are normal. Prepare a trial balance. 6,000 Accounts receivable. Cash. Accounts payable. .. Equipment Utilities expense... Sales revenue. 6,000 Common stock... 30,000 Dividends. 2,000 Administrative expense. 17,200 $10,800 sss. 36,000 2,400 8,000 SE29. Prepare a Corrected Trial Balance The following trial balance for Magill Company has errors that cause it to be out of balance. Prepare a...
Attached, is the Trial Balance for Barry Cooperation, for the year ended 30 June, 2018. Required:...
Attached, is the Trial Balance for Barry Cooperation, for the year ended 30 June, 2018. Required: Prepare Classified Financial Statements (Income Statement and Balance Sheet Trial Balance of Barry Cooperation As at 30 June, 2018 ACCOUNT DEBIT CREDIT Assets Cash at Bank 22 327 Account Receivable Control 11 484 Provision for Doubtful Debts 420 Inventory 6 057 Prepaid Expenses 2 230 Office Machinery 59 000 Accumulated Depreciation on Office Machinery 15 213 Motor Vehicles 22 000 Accumulated Depreciation on Motor...
9. The following adjusted trial balance contains the accounts and balances of Cruz Company as of...
9. The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2016, the end of its fiscal year (25 Points). Acct Account Title Debit Credit 101 Cash 18,000 126 Supplies inventory 8,000 128 Prepaid insurance 2.000 167 Equipment 23.000 168 Accumulated depreciation - Equip 6,500 200 Accounts payable 15,000 307 Common stock 5.000 318 Retained earnings 30,000 319 Didends 11,500 404 Services revenue 65.000 512 Salaries expense 32,500 622 Insurance expense 11,500 640...
task 2.1. prepare the general ledger by enetring the opening balanc
from trial balane
Task 1.3 - Prepare a depreciation schedule for 30/6/2019 Using the information that you prepared in your assets registers please compie depreciation schedule for the year ended 30/6/2019, located in the excel file u depreciation Sch tab ted in the excel file under the When you have finished, save the file. Part 2 - Preparation of final accounts For Part 2 of this case study you...
The following is a Trial Balance from the ledger of Celine & Co. for the year ended 30 June 2018. Also, a stock take was done on the 30th June 2018, showing closing inventory of $128,000. The closing inventory has not yet been entered into the journals. Required: a) Prepare a properly formatted Income Statement. b) Prepare a properly formatted Balance Sheet. Trial Balance Workings Workings Dr Cr 1 920,000 780,000 380,000 248,000 52,000 280,000 4,400,000 152,000 3,560,000 672,000 144,000...
Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries. (Post entries in the order of journal entries posted in the previous part of the question.) Cash Date No. 101 Balance Debit Ref. Credit Explanation May 31 Balance Supplies Date No. 126 Balance Explanation Ref. Debit Credit May 31 Balance May 31 Adjusting Prepaid Insurance Date Explanation No. 130 Balance Credit May 31 Balance May 31...
prepare financial reports
Task 2.2 - Prepare General Journal entries to record the balance day adjustments as at 30th June 2019 and post to the General Ledger, Task 2.3 - Prepare General Journal entries to close the relevant ledgers on 30th June 2019 and post to the General Ledger. ask 2.4 - Prepare a post-closing Trial Balance as at 30th June 2019 Additional Information at 30 June 2019: Balance Day Adjustments 1. John has engaged an advertising firm at a...
prepare financial reports
Prepare Financial Reports Revision Wow is a Trial Balance for SC T e ase complete the following a) A Worksheet b) A Classified Income Statement c) A Classified Balance Sheet SCB Trading Trial Balance as at 30th June 2018 DR 8090 16467 5193 980 50200 10000 70740 52624 6000 Account Cash At Bank Accounts Receivable Stock (1 July 2017) GST Paid Land Delivery Vehicle Plant Accumulated Dep - Plant Shares in ABC Pty Ltd Accounts Payable GST...
Required: a) Prepare a properly formatted Income Statement. b) Prepare a properly formatted Balance Sheet. Trial Balance Workings Dr Cr 460,000 390,000 190,000 124,000 42,000 140,000 2,200,000 72,000 1780,000 336,000 Land and Buildings Shop Fittings Acc Depn-Shop Fittings Bank Overdraft Office Furniture & Equipment Accounts Receivable Sales Inventory (Opening) Purchases ANZ Long-Term Loan Wages Accounts Payable GST Collected GST Paid Capital (opening) Insurance Office Expenses Bad Debts Drawings Customs Duty Depreciation 60,000 80,000 58,000 64,000 200,000 10,000 22,000 4,000 36,000...
Required: a) Prepare a properly formatted Income Statement. b) Prepare a properly formatted Balance Sheet. Trial Balance Workings Dr Cr 460,000 390,000 190,000 124,000 42,000 140,000 2,200,000 72,000 1780,000 336,000 Land and Buildings Shop Fittings Acc Depn-Shop Fittings Bank Overdraft Office Furniture & Equipment Accounts Receivable Sales Inventory (Opening) Purchases ANZ Long-Term Loan Wages Accounts Payable GST Collected GST Paid Capital (opening) Insurance Office Expenses Bad Debts Drawings Customs Duty Depreciation 60,000 80,000 58,000 64,000 200,000 10,000 22,000 4,000 36,000...
SE2-8. Prepare a Trial Balance The following balances were taken from the general ledger of Howse Corporation as of December 31. All balances are normal. Prepare a trial balance. 6,000 Accounts receivable. Cash. Accounts payable. .. Equipment Utilities expense... Sales revenue. 6,000 Common stock... 30,000 Dividends. 2,000 Administrative expense. 17,200 $10,800 sss. 36,000 2,400 8,000 SE29. Prepare a Corrected Trial Balance The following trial balance for Magill Company has errors that cause it to be out of balance. Prepare a...
9. The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2016, the end of its fiscal year (25 Points). Acct Account Title Debit Credit 101 Cash 18,000 126 Supplies inventory 8,000 128 Prepaid insurance 2.000 167 Equipment 23.000 168 Accumulated depreciation - Equip 6,500 200 Accounts payable 15,000 307 Common stock 5.000 318 Retained earnings 30,000 319 Didends 11,500 404 Services revenue 65.000 512 Salaries expense 32,500 622 Insurance expense 11,500 640...
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