How much did Zaid charge to income statement

Assignment Help Accounting Basics
Reference no: EM133115989

Questions -

Q1) Wages accrued are shown as:

(a) An asset on the balance sheet

(b) A debit balance in wages account

(c) Income on the income statement

(d) A credit balance in wages account

Q2) Rates prepaid are shown as:

(a) A liability in the balance sheet

(b) An expense on the income statement

(c) Debit balance in rates account

(d) Credit balance in rates account

Q3) Nasir's financial year ends on 31 December. On 1 April 20-9, she paid 1,800 for one year's insurance on new premises. What entry would be made for insurance in the balance sheet on 31 December 20-9?

(a) 450 asset

(b) 450 liability

(c) 1,350 asset

(d) 1,350 liability

Q4) Zaid's financial year ends on 31 October. On 1 November 20-6, he owed advertising costs of 40. During the year ended 31 October 20-7, he paid advertising costs of 530. This included 270 for an advertising campaign for six months to 29 February 20-8. How much did Zaid charge to income statement for the year ended 31 October 20-7 for advertising costs?

(a) 220

(b) 260

(c) 310

(d) 350

Reference no: EM133115989

Questions Cloud

What would be the journal entry on January : On January 15th?, the company paid the salaries payable and an additional? $900 in salaries expense. What would be the journal entry on January 15th?
Employee engagement and high performing teaming : Critical elements to achieving Operational Excellence are employee engagement and high performing teaming.
Develop a plot box for the properties and estate price : Virality Reality provide advertisements for properties and estates located around Kota Samarahan. The price listed for 20 properties and estate are shown as fol
Difference between asset allocation and security selection : How does Sarbanes-Oxley improve the quality of information in the markets?
How much did Zaid charge to income statement : This included 270 for an advertising campaign for six months to 29 February 20-8. How much did Zaid charge to income statement for the year ended
Increase your chances of career or life success : Reflect on how the concepts in this course can be applied to real-world situations and can increase your chances of career or life success.
What is the value of a bond : What is the value of a bond that has a par value of $1,000, a coupon rate of 9.04 percent (paid annually), and that matures in 9 years? Assume a required rate o
Calculate the npv of a initial investment : City University would like to set up a scholarship that pa RM30,000 in tuition fees. Given the cost of capital is 10 expect the scholarship to last forever, how
Prepare financial statements for the month : Interest on bank loan accrued but not paid on January 31 total $100. Prepare financial statements for the month. Journalize and post adjusting entries

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd