Prepare accounting equations, ledger and trial balance

Assignment Help Accounting Basics
Reference no: EM132608072

Question - Zeenat Bukhari, after completing a Master's degree in computer science, established Computer Care Ltd. to provide maintenance services.

During August, she completed the following transactions:

Aug. 1 She invested cash in the company's share capital, Rs.50,000.

Aug. 2 Appointed two programmers on a monthly salary of Rs.3,000 each.

Aug. 3 Provided services for cash, Rs.4,700.

Aug. 4 Placed order for equipment, Rs.15,000.

Aug. 7 Paid rent for August, Rs.1,500.

Aug. 13 Purchased supplies on credit, Rs.2,200.

Aug. 16 Paid salary advance to the programmers, Rs. 500 each.

Aug. 19 Paid insurance premium for the next year, Rs.4,000.

Aug. 20 Received equipment ordered on August 4 and agreed to pay for it on September 9.

Aug. 28 Billed customers for services provided, Rs.10,250.

Aug. 29 Paid the balance of programmers' salaries for August.

Aug. 30 Received electricity bill, Rs.1,600 and telephone bill, Rs. 650 for August payable on September 3.

Required - Prepare Accounting equations, ledger and trial balance?

Reference no: EM132608072

Questions Cloud

Understanding the opening themes of luke : What particular insights have been helpful in understanding the opening themes of Luke in terms of their place within the story of the Bible?
Define the four categories of employment income : DISCUSSION ACTIVITY, Define the four categories of employment income, providing an example (other than regular pay) for each category
Describe ocbc unique approach to talent management : Describe OCBC's unique approach to talent management and development. Compare OCBC's approach to talent management and development to other organizations you.
Why an employee would request additional tax : Discuss why and how an employee would request additional tax deductions at sourceband apply for a reduction in tax deductions at source
Prepare accounting equations, ledger and trial balance : Aug. 2 Appointed two programmers on a monthly salary of Rs.3,000 each. Prepare Accounting equations, ledger and trial balance
Decisions often involves financial and nonfinancial factors : Making decisions often involves financial and nonfinancial factors. Provide a hypothetical example from your life of a situation
Find what is mackenzie effective annual rate cost : Credit terms are 4/10, net 45 and Mackenzie pays on day 40. Using a 365 day year, what is Mackenzie's Effective Annual Rate (EAR) cost of trade credit?
Incremental analysis is used to help companies : Incremental analysis is used to help companies make decisions involving a choice among alternative courses of action.
Prepare profit statement to show the actual results : If absorption costing is used, the predetermined fixed production, Using marginal costing, prepare profit statement to show the actual results for the period.

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