Make all journal entries for maju teras bhd

Assignment Help Accounting Basics
Reference no: EM132589745

On 1 March 2020, Maju Teras Bhd borrowed RM50,000 from MyBank Bhd and signed a 12% one month note payable. MyBank Bhd charged 1% initial fee on the note. Maju Teras Bhd assigned RM73,000 of its accounts receivable to MyBank Bhd as a security. During March 2020, Maju Teras Bhd collected RM70,000 of the assigned accounts receivable and RM3,000 of the sales were returned by the customers. Maju Teras Bhd paid the principal and interest on note payable to MyBank Bhd on 1 April 2020.

REQUIRED:

Question 1: all journal entries for Maju Teras Bhd if the company's reporting date is on 31 March 2020.

Reference no: EM132589745

Questions Cloud

What is the present value of the terminal period : What is the present value of the terminal period FCFF assuming a weighted average cost of capital (WACC) of 7% and terminal growth rate of 2%?
What the unexpensed portion of a depreciable asset is : What The unexpensed portion of a depreciable asset is called? accumulated depreciation./ estimated residual value./ net realizable value.
Investment in the investor portfolio : Consider two investors. One is a 25-year old who works as a plumber and the other is 60-year old nurse. Provide a percentage asset allocation
Relationship between risk and return : There is a relationship between risk and return. Discuss this statement by referring to the four main asset classes.There is a relationship between risk and ret
Make all journal entries for maju teras bhd : Make all journal entries for Maju Teras Bhd if the company's reporting date is on 31 March 2020.On 1 March 2020 Maju Teras Bhd borrowed RM50,000 from MyBank Bhd
What are the determinants of and risk factors for problem : Each paper should be written about a country your choice in a different region of the world. The papers should be written on low- or middle-income countries.
September 2028 commonwealth government security : Please use graphs and/or tables to support your discussion and cite any references.
Find out what is next cash flow from operating activities : Find out what is the next cash flow from operating activities? SEAT manufacturing company ltd reported a net income of Rs, 80,000/-
Expected return of market portfolio : The risk free rate is 3% per annum. The expected return of market portfolio is 9% per annum. There is a security with current price

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the dividend yield for each

Compute the dividend yield for each of these four separate companies. Which company's stock would probably not be classified as an income stock?Explain.

  Comprehensive annual financial report briefing

Prepare an overview of government accounting for a business person, using the State of Georgia as an example. Describe the entity and evaluate the Management Discussion & Analysis (MD&A) section.

  Briefly explain the concept measurement in accounting

"Measurement" is an important concept in accounting. Briefly explain the concept and explain the basis upon which accounting measurement has historically been undertaken. Discuss alternative measurement bases that have been proposed more recently

  Determine the earnings per share on common stock

Income before income tax was $625,000, and income taxes were $175,000 for the current year. Determine the earnings per share on common stock

  Determine entry made to record the sale of the bonds

A company invests $700,000 in corporate bonds in 2019 and classifies them as available-for-sale.Determine entry made to record the sale of the bonds

  Prepare the stockholders equity section of the balance sheet

Prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. 80,000 shares of common stock authorized

  The original purchase price of the truck six years ago was

hale eva pizza has a nissan truck that theyve owned for 6 years and uses it for deliveries on the west side of oahu.

  How does this amount compare with dividends declared

What amount did PepsiCo declare in dividends on common stock in the year endedDecember 29, 2007?

  What are journal entries regarding write-off of bad debts

Assume Raymond Co uses the direct method to record bad debt expense. What are the journal entries regarding write-off of bad debts for the year

  Explore the most important step in the conversion process

Explain the key advantages and disadvantages of automating a manual accounting system. Explore the most important step in the conversion process.

  The chosen company is apple inc

Compute the following ratios in Excel for two years.

  Determine what will the fixed costs be

Stites Corporation will make $100,000 if it sells 8,000 bathtubs for $200 per unit. If the contribution margin is 30%, what will the fixed costs be?

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