User Account

All Pages

State the journal entry for each of the above statement

Assignment Help Accounting Basics
Reference no: EM132858719

Question - On 28 June 2020, a purchase order was received from a customer, for goods worth RM460,000. The customer paid a deposit of RM100,000. Beccam Bhd promised to deliver the product by 3 July 2020. This value of RM460,000 was recorded as sales during the year.

The 10% Bank Loan (5,000,000) was repaid in full on its due date, 31 March 2020. Interest was payable semi-anually on 31 March and 30 September. The repayment and final interest for the second half year were not yet accounted for.

Required - State the journal entry for each of the above statement.

Reference no: EM132858719

Questions Cloud

What are the characteristics of a public company : What are the characteristics of a public company?
Create heuristic technique for a simple tally : Create your own heuristic technique for a simple tally of all topics that emerge; and in addition to that, select several topics to actually report on
What would the transaction look like in a cash system : Consider small company that wishes to purchase a new vehicle for $30,000 that will be used for 2-1/2 years. What would the transaction look like in cash system
Provide three examples of sources of ignition in workplace : Provide three examples of sources of ignition in the workplace, and discuss how these sources could be controlled or eliminated.
State the journal entry for each of the above statement : The 10% Bank Loan (5,000,000) was repaid in full on its due date, 31 March 2020. State the journal entry for each of the above statement
Describe what happens at the end of the life of high mass : Describe what happens at the end of the life of high mass stars---be sure to describe all of the things that lead up to and what happens in a type Type II
Describe some of the benefits of relaxation : Describe some of the benefits of relaxation. Why is it important to use good judgement when beginning a new relaxation activity?
Discuss the four layers of the atmosphere : Discuss freshwater wetlands. Name three types and describe their function in nature. Discuss the four layers of the atmosphere.
How much will the preferred stockholders receive : Assuming that P105,000 will be distributed as a dividend in the current year, how much will the preferred stockholders receive

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd