User Account

All Pages

Journalize the transactions in activity

Assignment Help Financial Accounting
Reference no: EM132643381

Identify the type of the following transactions. Write SA UA EA EC SA EA EC UA  for Source of Asset, for Use of Asset, for Exchange of Assets and for Exchange of Claims.

1. The owner purchased a car in the name of the business for P900,000.

2. The company sold the used equipment for cash, P200,000.

3. Received electricity bill of P15,000 to be paid after two weeks.

4. The owner withdrew P50,000 cash for personal use.

5. The company bought P10,000 cleaning supplies on account.

6. The company bought o?ce equipment for P32,000 in cash.

EC 7. The company paid its accounts payable, P22,000.

8. The company sold merchandise and received cash, P20,000.

EC 9. The company acquired bank loan for P100,000.

10. The company paid the telephone bill for the month in cash, P1,499

Problem 1: Journalize the transactions in Activity 1. (Establish your own chart of accounts)

Reference no: EM132643381

Questions Cloud

Develop a rough probability distribution for npv : The cost of capital is 10%. Analyse the project and develop a rough probability distribution for NPV.
Explain security measures that each version of snmp uses : Explain the different security measures that each version of SNMP uses. What is the different between SNMPv1, v2c and v3? 300 word.
What is the face value of the cps-freddie ltd : Freddie Ltd has just raised $500m by issuing 5m converting preference shares (CPS) with a base dividend of 6.5% p.a. The CPSs mature in 5 years time.
Ratio analysis or analysis of the financial statements : Comparative and/or Trend Analysis (over 3 years) using Liquidity Ratios, Solvency Ratios, Profitability Ratios, Efficiency Ratios, & Coverage Ratios
Journalize the transactions in activity : Journalize the transactions in Activity 1. (Establish your own chart of accounts). The owner purchased a car in the name of the business for P900,000.
Redesign of business processes : Discuss what went wrong, what went right, and how the company could have done a better job minimizing the risk of failure.
Independent decisions based on all relevant information : The homo economics view of man's behaviour as applied to the bulk of finance theory portrays decision makers and being both self-interested and rational.
Prepare the necessary adjustments assume all errors : Assume all errors and omissions are material. Prepare the necessary adjustments (if any) for all items. On 9 July 2019, the sales manager raised credit notes.
Determining weighted average cost of capital of a company : What is the weighted average cost of capital of a company that has debt of $5 million and equity of $8 million? The average before-tax cost of debt is 8.5 per c

Reviews

Write a Review

Financial Accounting Questions & Answers

  Under the companys job-order costing system

Under the company's job-order costing system, allocation is based on the job's number of direct-labor hours. Job Z required 45 hours of direct labor. Direct materials for the job were $1,000. For the month, total direct labor hours were 9,000 with a ..

  How many shares are held as treasury stock by coca-cola

What percentage of authorized shares was issued by Coca-Cola at December 31, 2010, and by PepsiCo at December 29, 2010? How many shares are held as treasury stock by Coca-Cola at December 31, 2010, and by PepsiCo at December 29, 2010?

  Determine what the balance in the cash account at the end

Andrea Apple opened Apple Photography on January 1, Determine what the balance in the cash account at the end of January would be

  Chart of accounts and the general ledger

Explain the difference between the Chart of Accounts and the General Ledger.

  Calculate the return on assets for each year

Calculate the return on assets (ROA) for each year. How has the ROA trend changed over the last three years? How does your bank compare to the regional banks

  How much is the loss on purchase commitment

How much is the loss on purchase commitment to be recognized on December 31, 20x1? On January 1, 20x1, ABC signed a 3-year

  What the discount rate over a payment interval is

For RRA design, which TVM variable on the financial calculator does $36,000 represent? The discount rate over a payment interval in this analysis is

  Fores construction company

Fores Construction Company reported a pretax operating loss of $240 million for financial reporting purposes in 2013.

  Partnership sold the securities

On January 2, 2015, Henry, Cabot, and Lodge formed a three-person equal partnership with Henry and Cabot each contributing $100,000 and Lodge contributing securities with a basis to him of $60,000 and a fair market value of $100,000. On February 28, ..

  Captins cereal is considering introducing a variation of

captins cereal is considering introducing a variation of its current breakfast cereal crunch stuff. the new cereal will

  Question 1the following transactions as well as events

question 1the following transactions as well as events occurred in lanesburg township in 20x71- the township meeting

  Determine the types of accounting periods

Analyze the start-up company you created. Include in your analysis the type of company you have created, its business objectives.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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