2012 Kembara Sdn Bhd. bought two trucks, first truck for Rm8000 and second truck for RM6000 and a machine for RM 8000 on 2nd January. Bought at machine costing RM3000 on 1st October 2013 Bought another truck on 2nd June for RM7600. Bought a machine costing RM2100 on 8th November 2015 Sold the first truck for RM3600 on 30th September for the sum of RM810 Bought another machine for RM2000 on 4th May The business depreciate it's machine of the rate of 15% per annum using reducing balance method and 20% per annum for it's truck with straight line basis. From the following details: The financial year end of the business is 31st October. You are required to; a) Record the above transaction; i)the truck account i)the machine account

2012 Kembara Sdn Bhd. bought two trucks, first truck for Rm8000 and second truck for RM6000 and a machine for RM 8000 on 2nd January. Bought at machine costing RM3000 on 1st October 2013 Bought another truck on 2nd June for RM7600. Bought a machine costing RM2100 on 8th November 2015 Sold the first truck for RM3600 on 30th September for the sum of RM810 Bought another machine for RM2000 on 4th May The business depreciate it's machine of the rate of 15% per annum using reducing balance method and 20% per annum for it's truck with straight line basis. From the following details: The financial year end of the business is 31st October. You are required to; a) Record the above transaction; i)the truck account i)the machine account

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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Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED: How much net cash did the entity receive (give) with regards to the premium transactions for the year 2019 and 2020?
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