Written Work. Problem Solving. Show your solutions. At September 28, the balance sheet accounts for Hayao's Restaurant were as follows: Accounts Payable Land Accounts Receivable Hayao, Capital Notes Payable Building Cash Supplies Furniture P3,800 1,600 68,000 10,000 18,700 P33,000 ? 48,000 6,600 he following transactions occurred during the next two days: ayao invested an additional P22,000 cash in the business. The accounts payable were paid in full. (No ayment was made on the notes payable.)
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- If the beginning balance of Accounts Receivable account amounts to P250,000, and during the month have total debit postings of P500,000 and total credit postings of P400,000, what is the ending balance Group of answer choices P350,000 P750,000 P150,000 P250,000B. Begin again. On August 4, the balance on your card is $1000. Now, see what happens when you make a payment of $900 on September 2. Fill in the chart below. Days at Balance a. Effective Date C. What is the ADB? Activity b. Find the interest you will owe for the billing period, assuming her interest rate is 24.99%. Balance What will be the total balance on September 4? II. Now, based on your findings above, is it better to may a payment at the beginning or end of the billing period? Explain, don't just say beginning or end. 4Prepered by: Puen S Mor Junite Mohd Radel 5. Record the following transactions for the month of November 2020 in the general joumal and post to the appropriate ledger account and balance all the accounts the prepare the trial balance as November 202o. Nov 1 Started business with RM6,000 in the bank 2 Bought goods on credit from Ab Bhd RM 390 and XY Trading RM710 5 Cash sales RM240 7 Paid rent by cheque RM30 9 Paid sundry expenses by cheque RM200 11 Sold goods on credit to Mina RM80 and Chee RM1,150 16 Paid wages by cash RM45 18 Returned goods to AB Bhd RM20 and XY Trading RM35 19 Goods returned by Mina RM10 and Chee RM50 21 Bought motor van on credit from Tan Ching Motor RM8,000 24 Paid AB Bhd RM250 and XY Trading RM400 by cheque 27 Received a loan of RM500 cash from Aman 29 Received a cheque from Mina RM70 and Chee RM600 30 The owner deposited a further RM1,000 into a business bank account e m曲
- Instruction: From the following partial worksheet of Atty. Villanueva for six-month period ended December 31, 2019, prepare the financial statement in good form. Income Statement Balance Sheet Trial Balance Debit 40,000 50,000 30,000 10,000 20,000 15,000 Credit Debit Credit Debit Credit Cash on Hand Cash in Bank 40,000 50,000 30,000 10,000 20,000 15,000 Accounts Receivable Note Receivable Prepaid Insurance Office Furniture Accounts Payable Notes Payable M. Capital M. Drawing Service Income Salaries Expense Supplies Expense Taxes and Licenses Rent Expense Interest Expense 20,000 10,000 77,000 20,000 10,000 77,000 5,000 5,000 150,000 150,000 36,000 8,000 5,000 24,000 2,000 3,000 36,000 8,000 5,000 24,000 2,000 3,000 Bad Debts Allowance for Bad Debts 3,000 3,000 Depreciation Expense Accumulated Depreciation - Furniture Insurance Expense Unused Supplies Interest Income 1,500 1,500 1,500 1,500 10,000 3,000 10,000 3,000 1,000 262,500 262,500 89,500 151,000 173,000 111,500 Net Income 61,500…5. Record the following transactions for the month of November 2020 in the generaljournal and post to the appropriate ledger account and balance all the accounts theprepare the trial balance as November 2020. Nov 1 Started business with RM6,000 in the bank2 Bought goods on credit from Ab Bhd RM 390 and XY Trading RM7105 Cash sales RM2407 Paid rent by cheque RM309 Paid sundry expenses by cheque RM20011 Sold goods on credit to Mina RM80 and Chee RM1,15016 Paid wages by cash RM4518 Returned goods to AB Bhd RM20 and XY Trading RM3519 Goods returned by Mina RM10 and Chee RM5021 Bought motor van on credit from Tan Ching Motor RM8,00024 Paid AB Bhd RM250 and XY Trading RM400 by cheque27 Received a loan of RM500 cash from Aman29 Received a cheque from Mina RM70 and Chee RM60030 The owner deposited a further RM1,000 into a business bank accountPost information below to their respective ledger accounts then balance the ledger accounts. Interactive Consulting Ltd General Journal for September 2020 Date Details Acc. No. Debit ($) Credit ($) 1-Sep Cash 11 7,050 Accounts Receivable 12 1,500 Supplies 14 1,250 Office Equipment 18 7,200 Capital Stock 31 17,000 (To record assests received from Angela Smith in exchange for capital) 2-Sep Prepaid Rent 15 3,600 Cash 11 3,600 (To record prepaid rent) 3-Sep Prepaid Insurance 16 1,500 Cash 11 1,500 (To record prepaid insurance) 4-Sep Cash 11 3,500 Unearned Fees 23 3,500 (To record advance payment for services to be provided) 5-Sep Office Equipment 18 1,800 Accounts Payable 21 1,800 (To record purchasing of office equipment on account) 6-Sep Cash 11 800 Accounts Receivable 12 800 (To cash…
- Current Attempt in Progress At December 1, 2022, Tamarisk, Inc. Accounts Receivable balance was $17470. During December, Tamarisk had credit sales of $46800 and collected accounts receivable of $37440. At December 31, 2022, the Accounts Receivable balance is O $64270 debit O $17470 debit O $26830 credit O $26830 debit Save for Later Attempts: 0 of 1 used Submit Answer1. Prepare a Statement of Financial Position as of December 31,2021 the using the followingaccounts titles listed below (one in report form and one in account form):2. You may use any desired business name.3. Use the space provided for your answer.A. Account Form• Cash – 15,000 • Felongco Capital – 45,000• Loans Payable (due in 3 years) – 77,500 • Accounts Payable – 22,400• Accounts Receivable – 6520 • Building – 113,000• Supplies – 2,300 • Allowance for Bad Debts – 1,910• Equipment – 17,000 • Merchandise Inventory, End – 5,610• Unearned Sales Revenue – 3,500 • Acc. Depreciation – Equip & Bldg – 9,120Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $130 and the following activity. (Round your answer to the nearest cent.) Date Activity Amount October 3 Cash advance $50.00 October 7 Payment $75.00 October 10 Purchase $28.59 October 16 Credit $20.00 October 25 Purchase $122.60 average daily balance = $ ___
- A manager at Thocc, a business retailing and servicing custom keyboards, needs help with interpreting some of the accounting transactions that took place during the month of January 2022. The manager has provided you with a list of those transactions below. Required: Underneath each transaction in the space provided, write a brief narration describing the economic event that corresponds to that transaction. Date Account titles (Details) Dr ($) Cr ($) 2/1/2022 Cash 3,000 Accounts Receivable 2,500 GST Collected 500 Service Revenue 5,000 Answer here: 15/1/2022 Inventory 10,000 GST Paid 1,000 Accounts Payable 5,500 Cash 5,500 Answer here: 30/1/2022 Accounts Payable 15,000 Bank Loan 15,000 Answer here: 31/1/2022 Rent Expense 2,000 Prepaid…2. Study the account summary of the following credit card bank statement: Account numbers 3642 0243. Debits Account summary Gredits Balance brought forward R 2 000,80 Payments and credits Purchases and debits R 1 380,50 Interest charged R 22,51 Transaction fees 8,90 Closing balance 2.1 Determine the 'payments and credits' value, if the client paid 25% of the closing balance of the previous month's statement. 2.2 Calculate the closing balance. Refer to the transaction fee structure on p. 96 for Question 3, 4 and 5. 3. 3.1 A client wants to deposit R350 into his account. 3.1.1 How much will it cost the client to deposit the cash at the bank's own ATM if this is his first deposit of the month? 3.1.2 How much will it cost the client to deposit the cash inside the branch if this is his sixth deposit this month? 3.1.3 How much will it cost the client to deposit a cheque of R350 at the bank's own ATM if this is his first deposit of the month? 3.1.4 How much will it cost the client to deposít…Give your brain a boost. Try 5 free Q&As with our subject matter experts now.arrow_forward Question After formation on Aug. 1, 2018, the ledger accounts of the Ilano Corporation have the following balances: Accrued Expenses = P50,000 Accounts Payable = P400,000 Accounts Receivable = P220,000 Allowance for Uncollectible Accounts = P20,000 Building = P1,000,000 Cash = P160,000 Ordinary Shares, P250 par, 50,000 shares authorized = P1,513,000 Subscribed Ordinary Shares = P80,000 Furniture and Fixtures = P250,000 Merchandise Inventory = P1,000,000 Notes Payable-Short Term = P250,000 Organization Expense = P30,000 Share Premium-Ordinary = P60,000 Share Premium-Preference = P30,000 10% Noncumulative and Nonparticipating Preference Shares, 30,000 P500 par, 5,000 shares authorized = P250,000 10% Preference Shares Subscribed, P500 par = P100,000 Subscriptions Receivable-Ordinary = P41,000 Subscriptions Receivable-Preference = P52,000 Required: 1. Determine the…