Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - On 1 August 2021, the owners of the ABC Enterprise, Maurice & brothers, decided that they will boldly go and keep their records on a double entry system. Their assets and liabilities at that date were. Their assets and liabilities at that date were: office fixtures £1200, a van £32,000 and £36,800 in the bank account. They have no liabilities at the 1st of August 2021. Their transactions during August 2021 were as follows: 2021 August 2 Maurice & brothers received a loan of £12,400 from Santander Bank and they deposited in their bank account. 3 The amount of £2800 was transferred from bank Account to Cash in hand account. 4 Bought a second-hand Van paying by cheque £6,200 5 Bought office fixtures £3400 from Sharp Office Ltd. They paid £1000 by issuing a cheque and rest of the fixtures value would remain as credit. 8 Bought a new van on credit from Toyota Co. £8,700 15 Bought office fixtures paying by cash £110 19 Paid Toyota Co. a cheque for whole amount of debt 25 Paid £430 of the cash in hand into the bank account 28 Bought new office fixtures paying via bank account £750.
Required - Recording Business Transactions
a. Record the transactions in the general ledger (T Accounts) of Maurice & brothers.
b. Balance up the accounts and extract a Trial Balance as at 31 August 2021.
Suppose that other leading energy companies charge $12 in depreciation expense for each $100 invested in new equipment. Are Petrobras' depreciation policy.
The year 2018 is the first year in the last 10 years that Gray has not had at least $500,000 per year of net long-term capital gains.What is Gary's 2018 taxable
Can Lucia defer revenues and accrue as many expenses as possible and still be ethical
How are accounting numbers used to monitor this agency contract between owners and managers? Evaluate management's incentives to choose FIFO. Evaluate management's incentives to choose LIFO.
Notes payable interest accrual and payment. Proco had an account payable of $84,000 due to Shirmoo, Inc., one of its suppliers.
starling chemical uses a weighted average process-costing system. the following data relate to maywork in process may
Simon, age 12, has interest income of $4,900 and no earned income. He has no investment expenses. Determine Simon's net unearned income
On August 22, 2021, he filed a claim for a refund of $7,000. How much Federal income tax can Sheridan recover on the amended return
The partnership has no liabilities at the date of the distribution. What is Franks basis in the distributed inventory and land
What is the most that you would be willing to pay for a payment stream of $100 per year for the first fifteen years and $200 per year for the next five years.
Garfield Company purchased, as an available-for-sale securities, $80,000 of the 9%, 5-year bonds of Chester Corporation for $74,086, which provides an 11% return.
What is the main reasons an attorney may refuse to provide auditors with complete information about contingent liabilities? Provide the suitable example.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd