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- 10:39 ..l 0.37 KB/S 79 4 1481/1705 The table below show the three kinds of assets, from your own understanding of investment, fill out the boxes of the investments you made or you plan to make in each type of assets. 3 Personal/Social Турes Tangible of assets Financial Send Set as Add to Edit Delete 久Shttps://anu.instructure.comytourses/7789/quires/34131/take Question 7 Sps What is the impact on the accounting equatioon when an accunts receivable is collected? both sides increase both sides decrease only the Asset side changes the total of neither side changes Question 8 SptsInstruction: Provide the journal entry to record the transactions or events below. If no journal entry is needed, state the registry or other documents where the transaction or event is recorded. 1. Receipt of notice of appropriation amounting to P400M. 2. Receipt of allotment from the DBM amounting to P380M. 3. Incurrence of obligation amounting to P350M. 4. Receipt of Notice of Cash Allocation amounting to P325M. 5. Accrual of P300M salaries upon approval of payroll. The breakdown is as follows: Salaries and Wages 280M Personal Economic Relief Allowance (PERA) 20M Gross Withholding Compensation Tax 300M (75M) GSIS Withholding (15M) Pag-IBIG (15M) PhilHealth (8M) Total Deductions (113M) Net 187M 6. Granting of cash advance for the payroll. 7. Liquidation of the cash advance for payroll. 8. Remittance of taxes withheld to the BIR. 9. Remittance of other amounts withheld to the other government agencies concerned.
- tests.mettl.com/test-window/f55ac827#/testWindow/0/16/1 EY Accounting Assessment O Total 00:54.47 Finish Test Section 1 of 1 Section #1 v 10 11 12 13 14 15 16 17 18 19 20 17 of 45 All 2 43 Question # 17 G Revisit Choose the best option Which of the following formula best describes the acid test or quick ratio? Current assets: Current liabilities. Debtors: Creditors O (Current assets stock) Current liabilities. O Current assets: (Current liabilities - bank overdraft). Frev Cueston Next Question +91-82878-03040 Zaineh | Support +1-650-924-9221 metil 413 PM 1/16/2021 Type here to searcha. Describe the entries that have been posted to the following accounts after the Change Fund was established. b. How will the balance of Cash Short and Over be reported on the income statement?Harrigan Service Company, Inc., was incorporated by lan Harrigan and five other managers. The following activities occurred during the year: 1. Received $71,400 cash from the managers; each was issued 1,190 shares. 2. Purchased equipment for use in the business at a cost of $50,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). 3. Signed an agreement with a cleaning service to pay it $690 per week for cleaning the corporate offices, beginning next week. 4. Ian Harrigan borrowed $19,500 for personal use from a local bank, signing a one-year note.
- If the difference between current assets and current liabilities is 88.7, bill payable 166.5, creditors 30, prepaid expenses 10, then what is the total current assets? Select one: O a. All the given choices are not correct Ob. 206.50 Oc. 118.70 Od. 285.20 O e. 295.20What is the amount received by partially secured creditor? A. P40,000B. P60,000C. P70,000D. P65,000TB MC Qu. 02-148 (Static) Which of the following... Which of the following is not a step in the process to go from transactions and events to the financial statements? Multiple Choice Analyze each transaction and event using the accounting equation. Identify each transaction and event from source documents. Record relevant transactions and events in a journal. Post journal information to ledger accounts. Ensure the cash account balance is reduced to $0 at the end of each period. 21 of 26 Next.
- Calculate the cash discount and the net amount due the transaction (in $). Amount ofInvoice Terms ofSale CashDiscount NetAmount Due $15,660.00 2/10, n/45 $ $Provide journal entries to record each of the following tranctona. For cach, using the capital letter only, identity whether the transaction represents a sourE of cash S a use of canh (U, ar neither (NI PLEASE NOTE: All whale dollar amounta will be with "$"and commas as needed lie. $12,345). Far the journal entry, you munt enter the account names ectly as written below. Cnh Accounts Payable Dividendh Payable Treaury Stock Dividends Preferred Stock Note Recehable Common Stock Hondh Payable Paid $22.00 cash on ond paya CR Trarnaction - Source of canh (SL Uve of cash (U or Neither (N). Collected $12.400cah for a nate recehvable. CR Trarnaction - Source of cash SL Use of cash (UL or Neither (N). Declared a dividend to shareholders for $16,000, to be paid in the futurE. CR Trarnaction - Source of cash SL Use of cash (UL or Neither (N). Paid $26.500 to suppliers for purchases on account CR Trarnaction - Source of cash SL Uve of cash (UL or Neither (N) Purchaned treanury stock for $18,000…Provide journal entries to record each of the following tranuctiona. For each, using the capital letter only, identity whether the transaction represents a sourcE of cash SL a use of canh (U), ar neither (NL PLEASE NOTE: All whale dollr amounts will be with "$"and commas as needed ie. $12,345). Far the journal entry, you mut enter the account names exactly an written balow and for acounts having similar accounting treatment (DR or CR), you are to record Balance Sheet accounts first, fallowed by Income Statement account. Canh Truck Land Lom on Sale of Land Dividends Gain on Sale of Land Accounts Receivable Common Sock Note Payalale Declared and paid to sharcholders, a dividend of $24,000. DR Trarnaction - Source of cash SL Use of cash (UL or Neither (N). haund comman stock at par value for $12,000 DR Trarnaction - Source of cash SL Use of cash (UL or Neither (N. Sald a tract of land that had coat $10,000, for $16.000. DR DR C Trarnaction - Source of cash (SL Use of cash (U or Neither…
