Use the following transaction to solve the actual accounting question. 

 Company Name-ABC Ltd. with a 10-year history as of December 31, 2018. Starting January 1, 2019, you will see the following sample balance entries.

Entries                                                                   Amount in INR

Accounts Payable                                                      50000

Account receivables                                                   20000

Cash                                                                            450000

Merchandise inventory                                                 6620

Land                                                                              60000

Unearned revenue                                                        10000

Salaries payable                                                            32000

Common stocks                                     15000

Prepaid rent for office                               15000

Supplies                                                       20000

Retained earnings                                          25000

Later other transactions that took place in 2019 are:

1. Paid salaries payable from 2018.
2. As of March 2019, the petty cash expense made was Rs 10,000.
3. Advanced payment made for the company's car which was on lease Rs, 1, 00,000 on May 1, 2019.
4. Paid office rent in advance Rs. 25,000 on May 3, 2019.
5. Supplies purchased for Rs. 10,000 on the account.
6. During the year, purchased 20 CCTV cameras for Rs. 20,000 for cash.
7. Sold 103 CCTV cameras for Rs. 42,000 (calculate the cost of goods sold using FIFO method)
8. Accounts payable was Rs. 30,000
9. Petty cash replenished and the receipts included office supply expenses - Rs. 2,000, miscellaneous Rs. 7,000. Currency left Rs.1000
10. Billed Fixing services for Rs 10,000 for the year.
11. The salaries paid were Rs. 30,000 in cash
12. Accounts receivable were Rs. 60,000
13. Ad and marketing expense Rs. 6,000
14. Utility expense paid Rs. 5,000
15. The dividend paid to the shareholders was Rs. 15,000.

Required: What is the total value of cash in the above transactions? The total amount of accounts receivable from the above transactions? What is the value of total fixed assets?

Answer rating: 100% (QA)

To determine the total value of cash in the above transactions we need to consider all the cashrelat... View the full answer