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Problem 1: Conclude the undermentioned transactions. You are a registered VAT vendor.
10 Jan 2021 You receive a cheque for R25 000 from Rumi to register a company on his behalf.
14 Jan 2021 You deposit R35 000 of your own funds into the practice as additional working capital.
14 Jan 2021 You pay R11 500 including VAT, to a company secretarial firm who undertake to register the company as requested by Rumi.
17 Jan 2021 You purchase a passenger vehicle for R230 000 inclusive of VAT for office use, which is financed by ABSA Bank Limited and pay the first instalment of R12 566. 19 Jan 21 You pay rental of your office premises totaling R17 250 inclusive of VAT, your landlord is a registered VAT vendor.
Find and analyse the impact of the modern phenomenon of social accounting; does it improve firms' ESG performance or does it mask poor behaviour
Which is not one of the primary responsibilities of the Federal Reserve System (FED)? Raising or lowering the deposit requirement for banks
On January 1, 2020 Garden State issued 10,000 share,What is the total amount of the annual dividends that would be paid, if declared, to preferred stockholders?
Digregory makes all purchases on account, subject to the following payment pattern: If purchases for January, February, and March were $195,000, $175,000, and $225,000, respectively, what were the firm's budgeted payments in March?
On December 1, the company declared and paid a $0.40/share cash dividend. Prepare Statement of Retained Earnings for the year ended December 31, 2020
Cost of goods sold, administrative and selling expenses, and depreciation expenses were $446,000, What is the company net income or loss
The following transactions occurred during May, the first month of operations for XYZ Company: Calculate the balance in the cash account at the end of May.
At January 1, 2020, Van Gogh Corp.'s defined benefit pension plan, What is the fair value of the plan assets at December 31, 2020?
On July 1, a company paid the $3,480 premium on a one-year insurance policy with benefits beginning on that date. What will be the insurance expense on the annual income statement for the current year ended December 31?
Compute the first years depreciation using the following methods:-Straight-line-Double-declining balance - Which method do you think is the most representative of accurate depreciation of the goal posts?
When to measure or when to record liabilities. Our chain of restaurants is unfortunately closing one of its locations. The employees are being laid off
S W Metals Corporation issues 1,000 shares of $100 par common stock for equipment. Prepare the journal entry for this transaction
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