Accounts for Minion Ltd are as follows: Cash $8 000 Accounts payable 15 000 Wages payable...
Accounts for Minion Ltd are as follows:
|
Cash |
$8 000 |
|
Accounts payable |
15 000 |
|
Wages payable |
2 000 |
|
Inventory |
8 500 |
|
Accounts receivable |
4 200 |
|
Equipment |
14 500 |
|
Loan payable |
15 000 |
|
Motor vehicles |
22 000 |
The amount for Equity is:
a. 32000
b. 57200
c. 25200
d. 27000
Homework Answers
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Accounts for Minion Ltd are as follows:
Cash
$8 000
Accounts payable
15 000
Wages payable...
Blitz Pty Ltd has the following accounts and balances listed in its trial balance. Assuming all...
Blitz Pty Ltd has the following accounts and balances listed in its trial balance. Assuming all transactions have been entered correctly, the total debits and credits in the trial balance equal: Capital $15 000 Cash 2 000 Accounts payable 7 000 Inventory 5 500 Accounts receivable 9 500 Property, plant and equipment 15 000 Loan payable 24 000 Motor vehicles 14 000 a. 61000 b. 31000 c. 43500 d. 46000
An adjusted trial balance is given below. Debit Credit Cash $ 15 000 Accounts receivable 3000...
An adjusted trial balance is given below. Debit Credit Cash $ 15 000 Accounts receivable 3000 Prepaid rent 900 Inventory 27000 Accounts payable $ 4 200 Salaries payable 1500 Loan payable 900 Smith, capital 13700 Drawings 1500 Sales revenue 96100 Sales returns and allowances 1500 Sales discounts 700 Cost of sales 24000 Salaries expense 20000 Rent expense 14000 Selling expense 8300 Supplies expense 500 minusminusminusminusminusminusminus Total $ 116 400 $ 116 400 What will be the final balance in the...
At 30 September 2018, the balance sheet accounts for Oscar Ltd were as follows: Accounts Payable...
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The following transactions occurred in June 2018 for Borderline Ltd JuneReceved a cheque for S1 200 from Roar Ltd in...
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Make a cash flow statement using the following information below. 2017 Income Statement Sales 989 100...
Make a cash flow statement using the following information
below.
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5. (PSA11.4) These are the financial statements of Metro Meats Ltd: 2014 METRO MEATS LTD Statement...
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Vittoria Ltd requires a Statement of Cash Flows to be prepared for the year ended 31...
Vittoria Ltd requires a Statement of Cash Flows to be prepared for the year ended 31 March 2018, the following information has been collected for this purpose. Vittoria Ltd Balance Sheets as at 31 March 2017 2018 Cash $176 000 $239 000 Accounts receivable 220 000 280 000 Allowance for doubtful debts (30 000) (40 000) Inventory 90 000 100 000 Plant and equipment 900 000 1 074 000 Accumulated depreciation (80 000) (100 000) Total assets $1 276 000...
Accounting for income tax Tulip Ltd commenced business on 1 July 2018, with share capital of...
Accounting for income tax Tulip Ltd commenced business on 1 July 2018, with share capital of $700,000. The following information is available for the year ended 30 June 2019: Calculation of profit for the year ended 30 June 2019 $ $ Income: Revenue 1 430 000 Royalty (exempt from income tax) 10 000 Expenses: Cost of sales 725 000 Advertising expense 204 000 Annual leave expense 24 000 Depreciation – equipment 35 000 Depreciation – motor vehicles 20 000 Doubtful...
Please use the correct accounts List of Accounts : Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated...
Please use the correct accounts
List of Accounts :
Accounts Payable
Accounts Receivable
Accumulated Depreciation-Buildings
Accumulated Depreciation-Equipment
Accumulated Depreciation-Trucks
Accumulated Depreciation-Vehicles
Advertising Expense
Buildings
Cash
Common Shares
Cost of Goods Sold
Depreciation Expense
Dividends Payable
Equipment
Income Tax Payable
Interest Expense
Interest Payable
Inventory
Land
Miscellaneous Expense
Notes Payable
Operating Expense
Other Expenses
Prepaid Insurance
Prepaid Rent
Rent Expense
Rent Revenue
Retained Earnings
Selling and Administrative Expenses
Supplies Expense
Wages Payable
Wages Expense
Advances to Employees
Bank Loan Payable
Deposits...
Vittoria Ltd requires a Statement of Cash Flows to be prepared for the year ended 31...
Vittoria Ltd requires a Statement of Cash Flows to be prepared for the year ended 31 March 2018, the following information has been collected for this purpose. Vittoria Ltd Balance Sheets as at 31 March 2017 2018 Cash $176 000 $239 000 Accounts receivable 220 000 280 000 Allowance for doubtful debts (30 000) (40 000) Inventory 90 000 100 000 Plant and equipment 900 000 1 074 000 Accumulated depreciation (80 000) (100 000) Total assets $1 276 000...
The following transactions occurred in June 2018 for Borderline Ltd JuneReceved a cheque for S1 200 from Roar Ltd in full settlement of its account and deposited it in the bank account Sold inventory for $905(before any discounts have been applied) to Jones Ltd on credit (the company was given a trade discount of $80, then the normal credit terms) COGS was $420 Paid rent for June S1 500, chq no. 561 (Assume the rent is GST free) Purchased inventory...
Make a cash flow statement using the following information
below.
2017 Income Statement Sales 989 100 479 500 Cost of goods sold Selling and administrative 218 300 Depreciation 95 500 EBIT 195 800 Interest 33 760 EBT 162 040 Taxes 84 200 Net Income 77 840 Dividends 16 800 Additions to retained earnings 61 040 Cash $ 9 500 Accounts receivable Eumeralla Ltd Balance Sheet as at 30 June 2016 $ 13 300 Accounts payable 18 900 Notes payable 13...
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Please use the correct accounts
List of Accounts :
Accounts Payable
Accounts Receivable
Accumulated Depreciation-Buildings
Accumulated Depreciation-Equipment
Accumulated Depreciation-Trucks
Accumulated Depreciation-Vehicles
Advertising Expense
Buildings
Cash
Common Shares
Cost of Goods Sold
Depreciation Expense
Dividends Payable
Equipment
Income Tax Payable
Interest Expense
Interest Payable
Inventory
Land
Miscellaneous Expense
Notes Payable
Operating Expense
Other Expenses
Prepaid Insurance
Prepaid Rent
Rent Expense
Rent Revenue
Retained Earnings
Selling and Administrative Expenses
Supplies Expense
Wages Payable
Wages Expense
Advances to Employees
Bank Loan Payable
Deposits...
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