Reference no: EM132803926
Question - On 1 January 2020, Mrs. Marissa established Faster Enterprise in providing courier services for the Jitra Valley. The following transactions had taken place during the first month of its operation.
January 1 RJ had invested RM100,000 cash and RM35,000 office equipment to the business as a means of capital.
January 6 Purchased office supplies RM10,000 on credit.
January 8 Purchased a second-hand van for RM35,000 in cash.
January 17 Completed services to customers for RM40,000 in cash.
January 20 Paid creditors RM5,000 for the office supplies purchased on 6 January.
January 25 Completed services for customer amounting RM25,000 and billed to the account.
January 29 Paid RM5,000 for employee salaries.
January 29 Paid electric and miscellaneous expenses for the month RM2,000 and RM2,500 respectively.
January 29 RJ withdrew cash RM10,000 for personal use.
January 30 Customer paid his bill in full amount for the services rendered on 25 January.
REQUIRED -
(a) Journalise the transactions for the month of January 2020. (Explanation is not required).
(b) Prepare Cash Account and determine the account balance.
|
What is the new book value per share
: What is the new book value per share? As of December 15, 2020, ABC Corporation reported Ordinary Shares, 100,000 shares issued and outstanding
|
|
Which accounting information systems career path interests
: Discuss why this career interests you. It's a job that focuses on the economic health of the business. have been working as a General Manager for 3 years.
|
|
What ethical or legal issues does the topic present
: What ethical or legal issues does this topic present? Create a plan for implementing a change (or justify the need for no change). Who needs to be involved?
|
|
Prepare the journal entries to record the bond retirement
: Assume the company retires the bonds on June 30, 2017, at 102 plus accrued interest. Prepare the journal entries to record the bond retirement.
|
|
Prepare cash account and determine the account balance
: On 1 January 2020, Mrs. Marissa established Faster Enterprise in providing courier services for Jitra Valley. Prepare Cash Account and determine account balance
|
|
Prepare the journal entry to adjust deferred tax liability
: Accumulated temporary tax liability difference related to future years is P550, 000. Prepare the journal entry to adjust the deferred tax liability at the end
|
|
Has the material in the informatics in healthcare changed
: Has the material in the informatics in healthcare changed your professional practice? How might learning about informatics in healthcare influence your.
|
|
Discuss the role of state-based action coalitions
: Discuss the role of state-based action coalitions. Explain how these coalitions help advance the goals specified in the IOM report.
|
|
Prepare the journal entry to record sale of the new issued
: ABCD Corp. had an outstanding P6, 000,000 of 11% bonds due in 10 years. Prepare the journal entry to record the retirement of the old issued bonds.
|