Give the last two entries (drawings and profit share). EXERCISESledger postings for 2019:Nina, CapitalBona, Capital300,000Jan. 2500,000Jan. 2Mar. 1 200,000Nina, Drawing30,000 Dec. 31?Bona, Drawing30,000 Dec. 31 ?Oct. 1Nov. 130,000Dec. 1 ?Oct. 1Nov. 1 30,000Dec. 1Loans Payable, NinaIncome SummaryDec. 1550,000Dec 31 ?Dec. 31 200,000

Name: Give the last two entries (drawings and profit share). EXERCISESledger
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Give the last two entries (drawings and profit share). EXERCISESledger postings for 2019:Nina, CapitalBona, Capital300,000Jan. 2500,000Jan. 2Mar. 1 200,000Nina, Drawing30,000 Dec. 31?Bona, Drawing30,000 Dec. 31 ?Oct. 1Nov. 130,000Dec. 1 ?Oct. 1Nov. 1

Partnership is described as that kind of business under which multiple people mutually decide to…

Business

Accounting

EXERCISES 1. Nita and Bona, entrepreneurs, agreed to invest cash to put up a business selling signature bags. They agreed to share profits based on the legal provision. The following are the ledger postings for 2019: Bona, Capital Jan. 2 Nina, Capital Jan. 2 300,000 500,000 Mar. 1 200,000 Nina, Drawing 30,000 Dec. 31? Bona, Drawing 30,000 Dec. 31 ? 30,000 Oct. 1 Oct. 1 Nov. 1 30,000 Nov. 1 Dec. 1 Dec. 1 Loans Payable, Nina Income Summary Dec. 15 50,000 Dec 31 ? Dec. 31 200,000 Direction

EXERCISES 1. Nita and Bona, entrepreneurs, agreed to invest cash to put up a business selling signature bags. They agreed to share profits based on the legal provision. The following are the ledger postings for 2019: Bona, Capital Jan. 2 Nina, Capital Jan. 2 300,000 500,000 Mar. 1 200,000 Nina, Drawing 30,000 Dec. 31? Bona, Drawing 30,000 Dec. 31 ? 30,000 Oct. 1 Oct. 1 Nov. 1 30,000 Nov. 1 Dec. 1 Dec. 1 Loans Payable, Nina Income Summary Dec. 15 50,000 Dec 31 ? Dec. 31 200,000 Direction

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter8: Inventories: Special Valuation Issues

Section: Chapter Questions

Problem 18E: Errors During the course of your examination of the financial statements of Burnett Co., a new...

See similar textbooks

Similar questions

What is the revenue earned from award credits for 2022? *see attached a. P 0b. P 28,000c. P 36,000d. P 116,000
transcribed image text: Luna's savings account had the following balances. Date 04/01/2019 04/17/2019 05/28/2019 06/22/2019 Balance 726,000 782,000 800,000 How much is Luna's ADB for the 2nd quarter of 2019? 535,000 O P752,670.33 O P752,380.43 O P760,648.35 O P761,033.33
In Set’ Dec. 31, 2020 statement of financial position, how much should be the accounts payable? *see attached a. P 1,410,000b. P 1,485,000c. P 1,462,500d. P 1,425,000
akeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress%3false hapter 11 Lab Application 全回 Sign ia еBook You have been depositing money into an account yearly based on the following investment amounts, rates and times, what is the value of that investment account at the end of that period? (Click here to see present value and future value tables) Amounts of Value at the End Investment Rate Times of the Period $7,000 20% 16 years 612,094.91X $11,000 15% 9 years 184,644.26X $15,000 12% 5 years 95,292.71 X $36,000 10% 2 years 75,600.00 Feedback > Check My Work For each scenario, use the rate and time components to use the applicable time value of money table to determine the needed factor. Multiply the investment amount by the future value factor to determine the value of end of the period. 6:38 PM G O 4) ENG 13 68°F Sunny 10/26/2021 O P Type here to search hp %24 %24 %24
AHEAD | Login FA_21BUS101A-END-SEM ASSIGI X https://aheadonline.amrita.edu/courses/34/assignments/2033?module_item_id=9674 Discussions 1. From the following Trial balance , you are require to prepare the final accounts for the year ended 31st December 2020. Grades Particulars Amount (Dr) Amount(Cr) 4,80,000 Сapital Drawings Land & Building People 1,35,000 4,50,000 Pages Account Creditors 3,15,000 Files Plant& Machinery 1,20,000 Purchase returns 7,950 Syllabus Bills receivable 18,000 Dashboard Sales 6,54,000 Quizzes Opening stock 1,20,000 1,53,000 78,000 1,500 3,000 1,14,000 10,200 79,800 1,35,000 3,600 6,000 18,000 11,850 Courses Modules Purchase Wages Carriage outwards Carriage inwards Salaries Calendar Discount Inbox Bank balance Debtors Bad debts Sales returns Furniture Advertisements Total 14,56,950 14,56,950 Adjustments: Stock on 31st December,2020 is Rs. 1,05,000 Machinery & Furniture to be depreciated @ 10%. Wages outstanding is Rs. 4,50O Prepaid Advertisement is Rs.1,500 A…
PDF Practice midterm 1 Spring 2022. X O File | C:/Users/chris/Favorites/Downloads/ACC%203200%20SPRING/Practice%20midterm%201%20Spring%202022.pdf of 12 + D Page view A Read aloud T Add text V Draw E Highlight O Erase 12 с. Salaries & wages paid in cash (70% direct; 20% indirect; 10% selling & admin) 2$ 50 d. Depreciation on PP&E (90% manufacturing; the remainder selling & admin) 2$ 60 Factory utility expenses paid on account $ 34 е. Advertising expenses paid in cash Manufacturing overhead applied to production f. 18 g. 105 h. Cost of goods manufactured 24 204 i. Cash sales to customers $ 375 Cost of goods sold (unadjusted) 2$ j. k. Underapplied or overapplied overhead closed entirely to Cost of Goods Sold 180 To answer the following two questions, enter the numbers relevant for each calculation into the table below using positive numbers to designate increases to an account balance and negative numbers to designate decreases. Cash RM WIP FG МОН PP&E АР R/E Beg $39 $89 $14 $19 $120 $28…
whion for Coofer EuterPrises is gven below! Dee B1, 20 24 Plan assets (at fair valve) Projected bonegil obligation Acemulated other comprehensivedess $ 1,600,000 1,200,000 503,700 The everage remahing benvicekife of euluye is loyeurs. The amortizahion of Accumulofed other CompPorc hesaive lass for tor 2022, usingthe corridor methad, 1B .... ? cs Scanned with GamScanner
Accounts Payable as of December 31, 2020 should amount to: *A. 531,000B. 600,000C. 627,000D. 1,827,000
windaer Lomparry buyan speratiuma un Jeruary 1, 2018. and uaa the everupe-coat muthud of pris ng imentury. Munagement a cortLmpluting a hungs ir iventury me.hada far 2021. The fuloniry infurmation ia evai uble for the peara 2018 202o. Net Income Computed Using FIFO Method S19.030 21.010 24,050 LTFO Method Average-Cost Method $16,130 17,910 25.120 2018 $12,070 10,70 2014 2020 () Prepare the juurnal entry resoury io rucord e dharye from the arrege oal mslhud te the PIFU malhud in 2021. (Creult acrouwl Etles ure uulomalcaly maented when amount is entered. De mot mdent mamally. If no entry s reyurcd, seleet "Ne tntry" for the and enter o for the amounts. ) Account Titla and txplanalion Debst Crudit (b) Deturmine net inceme ta be rup:rted for 2018, 201s, and 2020, aftar giving uffect to the charge in accountirg principle. Net Tarame 2018 2019 (c) Assume Windsor Company used the LIFO method instead of the average cost method during the years 2018-2020. In 2021, Wintsor changed to the FIFO…
CALCULATE THE INTEREST COVERAGE RATIO. For the year ended December 31, Notes 2020 2019 Revenue ₱ 10,775,731.00 ₱ 11,334,976.00 Cost of Sales 7,175,540.00 7,552,700.00 Gross profit 3,600,191.00 3,782,276.00 General and Administrative expenses 3,278,202.00 3,417,740.00 Finance Cost Or Interest Expense 48,000.00 16,000.00 Net Income before Tax 273,989.00 348,536.00 Provision for Income Tax 82,197.00 104,561.00 NET INCOME AFTER TAX ₱ 191,792.00 ₱ 243,975.00 (See Notes to Financial Statement)
Calculate the continuation value of KMS using the following table, and assuming an EBITDA multiple of 8.5. (Click on the following icon in order to copy the contents of the table below into a spreadsheet.) -2019 $16,476 2020 $18,116 The continuation value is $ 2021 $19,875 2022 $21,792 thousand. (Round to the nearest integer.) 2023 $23,882 EBITDA (000) The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career. 2024 $26,162
ाथ सल्गाने मा DeeBl, 2021 feliowing Andormiom for Coder BisterPriss is gren belows: bolow: Plan assets (at fair valve) Projecked bonefil obligalion Accmulated other comfrchensive doss $ 1,600, 000 1,200,000 503,700 The The everoge remabing bevwice dife of emluyee is lo yenrs. The amortizahing of Accuhul fed other ComPre hessive lass for ror 2022, usingthe Corridor methad, 1B.. ? CS Scanned with CamScanner