Don't give solution in image format.. 3) Kyle's Gaming Services showed the following adjusted trial balance onSeptember 30, 20XX.(10MARKS)DebitCreditCash32,500Accounts Receivable14000Prepaid Insurance5,500Gaming Equipment10,500Accumulated Depreciation, Equipment7,500Accounts Payable30000K. Bauman, Capital35,500K. Bauman, Withdrawals4,500Gaming Services Revenue45,000Office Expense5,000Gaming Supplies Expense8,000Insurance Expense6,000Wages expense32,000118,000118,000Required:Journalize the closing entries of Kyle's Gaming Services on September 30, 20XX.

The above entries can be explained as under - First entry explains the closure of the revenues. The…

Answered: 3) Kyle's Gaming Services showed the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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(To record cash purchase of premiums) Cash Sales Revenue (To record cash sales) Cash Premium Expense Inventory of Premiums (To record redemption of codes) (To adjust unearned revenue) Save for Later 3840000 000 0 Attempts: 1 of 3 used Submit Answer E
Complete the following: Note: Do not round intermediate calculations. Round your final answers to the nearest cent. Amount of invoice 695 Terms 4/10, n/60 Invoice date 7/24 Actual partial Date of partial payment made payment 7/28 $ 495 Amount of payment to be credited Balance outstanding
Complete the following: (Do not round intermediate calculations. Round your final answers to the nearest cent.). Amount of invoice $ 705 Terms 5/10, n/60 Invoice date 7/25 Actual partial payment made $ 505 Date of partial payment 7/29 Amount of payment to be credited Balance. outstanding
Complete the following: (Do not round intermediate calculations. Round your final answers to the nearest cent.) Amount of Actual partial payment made Date of partial payment Balance outstanding Amount payment to be credited Terms Invoice date of invoice 645 3/10, n/60 7/19 %$4 445 7/28 200.00 %24 %24 %24
Complete the following: Note: Do not round intermediate calculations. Round your final answers to the nearest cent. Amount of invoice Terms Invoice date Actual partial payment made Date of partial payment Amount of payment to be credited Balance outstanding $ 600 4/10, n/60 7/5 $ 400 7/14 $ 400.00 $ 400.00
The following is the trial balance of Aroro Enterprise as at 31 August 2019 (48400+100) Particulars Debit (RM) Credit (RM) 48,400 Capital Drawings Trade receivables Ac-tecaNables Trade payables Sales 3,500 9,000 Ac-payable 3500 12,500 40,400 Purchases Sales returns Purchases returns Wages and salaries E Discounts allowed Discounts received Provision for doubtful debts Insurance 31,000 300 250 (5,600 120 enses zmings ability equity 200 300 700 2,400 (950 (350 10,000 3,000 20,000 Inventory as at 1 September 2018 Utilities revenye Rates Premises Fixtures and fittings Motor van Cash in hand 330 Cash at bank 14,800 102,050 TOTAL 102,050 = 3,300-160 - 3900 Additional information as at 31 August 2019: i. Inventory as at 31 August 2019 amounted RM3,300 ii. An entity from whom there is accounts receivables of RM200 was unable to settle his debt and this amount is to be written off as bad debts. iii. The provision for doubtful debts is 1% of the outstanding trade receivables. iv. The owner took…
Calculate the credit given for the partial payment and the net amount due on the invoice (in $). (Round your answers to the nearest cent.) Amount ofInvoice Terms ofSale PartialPayment Credit forPartial Payment NetAmount Due $8,303.00 2/10, n/30 $2,400 $ $
The business made a sale of OMR 21000 ( | cost was OR 18000), on credit basis. The effect on Account Receivable will be : Select one: O a. Account Receivable will decrease by OMR 21000 O b. Account Receivable will increase by OMR 18000 O c. Account Receivable will increase by OMR 21000 O d. Account Receivable will decrease by OMR 18000
Assume that accounts receivable and the allowance for doubtful accounts (AFDA) ending balances were OMR500,000 debit and OMR5000 credit balances respectively at December 31, and the uncollectible accounts are estimated to be 5% of accounts receivable. Find out the ending balance of ADFA from the above given information . a . None of the given options b . OMR 30000 C. OMR 25000 d . OMR 20000
If Accounts Payable has debit postings of P170,000 credit postings of P140,000 and a normal ending balance of P60,000 which of the following was its beginning balance? Group of answer choices P30,000 Cr. P30,000 Dr. P90,000 Dr. P90,000 Cr.
What should i do? Record the Contracted services of $82,500 as performed. Note: Enter debits before credits. Transaction General Journal Debit Credit 6b
The business made a sale of OMR 21000 ( cost was OR 18000), on credit basis. The effect on Account Receivable will be : Select one: a. Account Receivable will decrease by OMR 18000 b. Account Receivable will increase by OMR 21000 c. Account Receivable will decrease by OMR 21000 d. Account Receivable will increase by OMR 18000

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