Please show work. Karishma runs her own business. The balances in her books on 1 October 2020
Fantastic news! We've Found the answer you've been seeking!
Question:
Please show work.
Transcribed Image Text:
Karishma runs her own business. The balances in her books on 1 October 2020 included the following. Insurance account Electricity account $ 1700 prepaid 1800 owing During the financial year ended 30 September 2021 Karishma made the following payments by cheque. Insurance payments 7 February 2021 13 August 2021 Electricity payments 14 October 2020 24 January 2021 26 May 2021 $ 3400 3500 $ 1800 1800 1800 A refund of $300 for insurance overpaid was received by bank transfer on 28 February 2021. The insurance paid on 13 August 2021 covered a period of five months to 31 December 2021. At 30 September 2021, an amount of $2000 was owing for electricity. Karishma runs her own business. The balances in her books on 1 October 2020 included the following. Insurance account Electricity account $ 1700 prepaid 1800 owing During the financial year ended 30 September 2021 Karishma made the following payments by cheque. Insurance payments 7 February 2021 13 August 2021 Electricity payments 14 October 2020 24 January 2021 26 May 2021 $ 3400 3500 $ 1800 1800 1800 A refund of $300 for insurance overpaid was received by bank transfer on 28 February 2021. The insurance paid on 13 August 2021 covered a period of five months to 31 December 2021. At 30 September 2021, an amount of $2000 was owing for electricity.
Expert Answer:
Answer rating: 100% (QA)
a Accounts for the year ended 30 September 2021 Insurance Account Note Debit represents expenses and ... View the full answer
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
Posted Date:
Students also viewed these accounting questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
The following information relates to Wellworths Enterprises: 1. Balances on 1 October 2021 Equipment (including computers) at cost price Accumulated depreciation on equipment Bank (debit) Accrued...
-
1. Calculate the budgeted nights booked: Maximum capacity (30 rooms) * Number of days per year (365) * Expected occupancy rate (80%) = 8760 nights. 2. Calculate the tariff revenues: Budgeted nights...
-
Baird County maintains an investment trust fund for the School District and the Town of Bairdville (separate governments). Presented below is the preclosing trial balance for the investment trust...
-
Kinney A. . had the following assets and liabilities on the dates indicated. Kinney began business on January 1, 2019, with an investment of 100,000. Instructions From an analysis of the change in...
-
Write a computer program to find the mean square value of the response of a single-degreeof-freedom system subjected to a random excitation whose power spectral density function is given as...
-
The following is the description of sales and cash receipts for the Lady's Fashion Fair, a retail store dealing in expensive women's clothing. Sales are for cash or credit, using the store's own...
-
You are a manager at Northern Fiber, which is considering expanding its operations in synthetic fiber manufacturing. Your boss comes into your office, drops a consultant's report on your desk, and...
-
On December 31, 2023, RCA Companys Allowance for Doubtful Accounts had an unadjusted debit balance of $7,800. The accountant for RCA has prepared a schedule of the December 31, 2023, accounts...
-
2. Who are the stakeholders who may use the Saudi Arabian Certificate of Conformity?
-
Two springs have spring constants \(k_{1}\) and \(k_{2}>k_{1}\). Connected as shown in Figure P8.53, they act like one spring. Compute the spring constant of the combination. Is the combination...
-
The change in color when acetone is placed on the wing is due to the difference between the indices of refraction of ace- tone and air. Consider light of some particular color. In acetone, A. The...
-
This exercise will help you to explore how organizations use public affairs activities when they address issues. It also introduces some of the steps involved in identifying and analyzing the...
-
Two springs have spring constants \(k_{1}\) and \(k_{2}>k_{1}\). Connected as shown in Figure P8.52, they act like one spring. Compute the spring constant of the combination, and determine whether it...
-
In the modified Atwood machine shown in Figure P8.57, each of the three blocks has the same inertia \(m\). One end of the vertical spring, which has spring constant \(k\), is attached to the single...
-
Use the following information to determine the book value of the stores inventory on the morning of May 6. Closing inventory for April: $11,353.40 Purchases $742.38 $397.49 $619.66 $273.16 $824.93...
-
What are the four types of poultry production systems? Explain each type.
-
The accountant for the firm owned by Horace Brock prepares financial statements at the end of each month. INSTRUCTIONS Use the figures in the T accounts for Problem 3.4A to prepare a trial balance,...
-
What effect does each item in Question 5 have on owner's equity? In Question 5 a. The owner withdrew cash from the business. b. Credit customers paid $1,000 on outstanding balances that were past...
-
On June 30, 2016, the State Unemployment Tax Payableaccount in the general ledger of Alan Office Sup plies showed a balance of $2,148. This represents the SUTA tax owed for the second quarter of the...
-
What critical elements are important to support the planning process?
-
What are impediments to planning, both at the beginning of a project and throughout the project?
-
Since the bar chart is ineffective as a planning and scheduling tool, why is it still widely used in the construction industry?
Study smarter with the SolutionInn App