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Accounting
Page 6
Questions (2,356)
Hutton Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursement journal, and a general
3 answers
asked by
charmaine
869 views
QUESTION TWO (30 MARKS)
Petro Ltd acquired 60% of Carlos Ltd’s 500,000 R1 equity shares on 1st January 2019 for a consideration
3 answers
asked anonymously
104 views
The City of Jamestown has agreed to acquire a new city maintenance building under a capital lease agreement. At the inception of
3 answers
asked by
Jill
839 views
A firm has beginning inventory of 300 units at a cost of $11 each. Production during the period was 650 units at $12 each. If
4 answers
asked by
sarah
952 views
Which one of the following transactions does not affect cash?
3 answers
asked by
Sara
699 views
E2-2 Selected transactions for D. Reyes, Inc., an interior decorating firm, in its first month of
business, are as follows. Jan.
11 answers
asked by
Wendy
2,517 views
A company buys computers at a cost of 4 million. They expect to replace the computers at the end of 4 years. What annually rate
5 answers
asked by
T.mam
55 views
Assume an error was discovered: land costing $80,000 (net of tax) was charged to Repsir Expense in 2007. What would the
1 answer
asked by
Beverly
496 views
The balance in the unearned fees account before adjustment at the end of the year is 112,790. Of these fees, 69,735 have been
1 answer
asked by
natalie
912 views
(Question) June 1 2008---Received a $6000, 1-year, 8%, note from Sue Forest as full payment on her account.
(Ans)Merchandise
3 answers
asked by
Thara
794 views
Shelton Engineering completed the following transactions in the month of June.
a. Shania Shelton, the owner, invested $105,000
2 answers
asked by
Lori
815 views
Kam Motor Company manufactures automobiles. During September 2007 the company purchased 5,000 head lamps at a cost of $9 per
2 answers
asked by
Becca
492 views
Python Company leased equipment from Hope Leasing on January 1, 2006. Hope purchased the equipment at a cost of $232,666.
Other
3 answers
asked by
Frank
907 views
2. The ledger accounts of M Ltd. show the following balances: Rs.
14% Preference share Capital 3,00,000 Securities Premium 20,000
4 answers
asked by
manoj
475 views
unexpired insurance at the end of the fiscal period represents; an accrued asset, an accrued liability, an accrued expense, or a
5 answers
asked by
paul
3,943 views
XYZ's receivables turnover is 10x. The accounts receivable at year-end are $600,000. The average collection period is 90 days (3
3 answers
asked by
carrie
2,202 views
Until recently, Augean Cleaning Products sold its products on terms of net 60, with an average collection period of 75 days. In
3 answers
asked by
ronda
650 views
The following adjusting journal entry was found on page 4 of the journal. Select the best explanation for the entry.
Wages
4 answers
asked by
tomika
1,745 views
Andy Wright, D.D.S., opened a dental practice on January 1, 2008. During the first month of operations the following
4 answers
asked by
Ben
1,511 views
B3 Company is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the
3 answers
asked by
matt
626 views
The general manager of a business encounters many different types of business transactions. Provide an example of a transaction
2 answers
asked by
queen
676 views
What is a balance sheet typically used for? What information on the balance sheet is the most valuable? How does it complement
3 answers
asked by
Anonymous
1,215 views
What would the Journal Entry be for this transaction:
Notified by Alex's Engineering Co that Success's bid of $9,000 on a
3 answers
asked by
Anonymous
877 views
why is accounting a service industry.
because is a small business type? because it provides support but no tangible goods because
2 answers
asked anonymously
35 views
why is accounting a service industry
because is is a small busieness type because it provides support but no tangible goods
2 answers
asked anonymously
37 views
Question 1
On 1 January 2014, Diamond ltd acquired 80% of the equity share capital of Gold ltd. The consideration was satisfied
2 answers
asked anonymously
42 views
IAS 17 paragraph 13 states that “Lease classification is made at the inception of the lease…..”
Sishi Ltd entered into a
2 answers
asked anonymously
53 views
IAS 17 paragraph 13 states that “Lease classification is made at the inception of the lease…..”
Sishi Ltd entered into a
2 answers
asked anonymously
46 views
Prepare the trial balance for
Capital k1230 Creditors k2500 Debtors k37530 Assets k5000 Liabilities k4000 Cash k400 Purchases
4 answers
asked anonymously
33 views
Define "opening balance"
2 answers
asked by
Lesedi
45 views
What is another term for “income statement”?
“book value” “operating expenses” “statement of cash flow” “profit
2 answers
asked anonymously
61 views
Which is true about an income statement and a balance sheet?
All of these answers are correct. Unpaid items listed as expanses on
2 answers
asked anonymously
63 views
If the account is interest bearing, how would you account for the interest when you reconcile your account?
Subtract the interest
2 answers
asked anonymously
54 views
Transactions of income account
2 answers
asked by
.
29 views
What are the accounting principles which national economic accounts are built on?
2 answers
asked by
.
41 views
The miller company recognized $99,000 of service revenue earned on account during year 2. there was no beginning balance in the
2 answers
asked anonymously
60 views
On December 31 of the current year, Jones Company purchased a building for $100,000, paying $40,000 in cash and signing a
2 answers
asked anonymously
61 views
How would you check the accuracy of the opening balance of the most recent statement?(1 point)
Responses subtract the ending
2 answers
asked anonymously
100 views
On January 1, 2022, Wheeler Inc purchases a building for $800,000 and places it into service. When Wheeler Inc records
2 answers
asked anonymously
56 views
What is the information for each transaction recorded in a journal?
1 answer
asked anonymously
55 views
On march 3, abc purchased a desk for $450 on account. On march 22, abc purchased another desk for $500 also on account, and then
1 answer
asked anonymously
84 views
March 1. Tom operated a photographic business in his home on a part time basis. He decided to move a rented studio as of March
1 answer
asked by
Ahmednur Redwan
126 views
Show how the closing balance after payment value of R719512.34 for month 10 was calculated
1 answer
asked by
Bongakonke
64 views
Show how the balance before payment value of R733760.42 for month 1 was calculated
1 answer
asked by
Bongakonke
56 views
Question 1
The following is summary of the receipts and issues of materials in a factory during Janu 2022. Calculate the value of
1 answer
asked anonymously
118 views
Exercise 3-48 (Algorithmic) Expense Adjustments Faraday Electronic Service repairs stereos and DVD players. During 2019, Faraday
3 answers
asked anonymously
38 views
You are the accountant for suite dreams a retail furniture store recently an order of sofas and chairs was received from a
1 answer
asked by
Estefany Arjona
97 views
Could anyone explain how to put these adjusted balances into a journal entry?
1. Accrued interest earned but not yet collected on
1 answer
asked by
Keira Storm
91 views
Hello! Could anyone help me understand this question?
For purposes of preparing its December bank reconciliation, the following
1 answer
asked by
Keira Storm
107 views
Although managers who work for large firms must know something about accounting, people who run small businesses only need to
1 answer
asked by
Edgar Harwood
101 views
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