Reference no: EM132965876
Lazarda opened a business consultation office specifically on digital marketing, Lazarda Business Consultation (LBC) on 1 January 2019. The business operations include prepare business proposal, consultation documents, proposal on digital marketing plan, provide advertising services and other business consultation related activities.
During the first month of operations, the business completed the following transactions.
January 2019.
1 Lazarda contributed RM62,000 cash into the business. The business gives capital to Lazarda
2 Purchased from Fortune Resources, the office supplies RM500 by cash and furniture RM2,000 on account.
4 Performed consultation services to A.J. Enterprise. LBC charged RM1,600 for the services provided. A.J Enterprise paid RM600 by cash and the remaining balance will be paid on 25 January 2019.
7 Purchased a building with value RM270,000 and land at value RM229,000. The business paid RM49,900 by cash, and signed a notes payable to the bank for the remaining balance. (Notes payable is an agreement to pay to the fund provider/bank at specified time period)
11 Prepared a consultation documents to Khalis Agency on account, RM3,000.
Performed a marketing and advertising consultation to IQ Brilliant and received RM2,150 cash
15 Paid Fortune Resources RM800, by cash
17 Received bill for utilities RM1,200. The bill will be paid next month (on 3 February)
25 Received RM500 from A.J. Enterprise
28 Paid the following expenses.
Staff salaries RM2,500
Advertising RM750
Internet and telecommunication bill RM550
31 Lazarda brought in her personal computer as capital to TBC. The value of the computer, RM2,500.
Requirement:
Assume that you appointed as Junior Accountant at LBC,
Problem a) Journalize the transactions
Problem b) Post the transactions to t-account and balance off (close) the accounts.
|
Prepare adjusting entries that were made by the dunbar zoo
: Prepare the adjusting entries that were made by the Dunbar Zoo on December 31, 2017. If no adjusting entry is required, please type "NO ENTRY"
|
|
How many orders will be made per year
: What would be the advantage and disadvantage if the company decided to carry safety stock? Explain your answer in sentence form.
|
|
Prepare entries for accrual of interest on june
: Bold Accountants Co. sells $6,000,000 of 10-year, Prepare entries for Accrual of interest and related amortization on June 30, 2020.
|
|
Prepare statement of profit or loss for month ended january
: Prepare a Statement of Profit or Loss for the month ended 31 January 2019, Statement of Owner's Equity for the month ended 31 January 2019
|
|
Post the transactions to t-account and balance off accounts
: Post the transactions to t-account and balance off (close) the accounts. Lazarda opened a business consultation office specifically on digital marketing
|
|
What think will happen to the hospitality industry
: Research the Australian economy and explain what you think will happen to the hospitality industry in the next three years. What positive factors can you see
|
|
Make a trial balance as at january
: Assume that you appointed as Junior Accountant at LBC, make a Trial Balance as at 31 January 2019. Lazarda contributed RM62,000 cash into the business.
|
|
What may reduce managements ability to convey
: What two form of signals relevant to accounting can management use to expose this information to the investors. Don't just list, explain.
|
|
What is charles recognized gain
: Charles gives Brian a machine with a basis of $4,000 and a fair market value of $5,000. What is Charles's recognized gain
|