A sports club was formed on 1 January 204. During the year ended 31 December 204 the
Question:
A sports club was formed on 1 January 20–4. During the year ended 31 December 20–4 the club purchased sports equipment by cheque.
In which of the financial statement would this be included?
Transcribed Image Text:
Receipts and payments Income and expenditure Statement of financial account account position B C.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
The purchase of sports equipment by cheque would be included in the Receipts and Payments account ...View the full answer
Answered By
Churchil Mino
I have been a tutor for 2 years and have experience working with students of all ages and abilities. I am comfortable working with students one-on-one or in small groups, and am able to adapt my teaching style to meet the needs of each individual. I am patient and supportive, and my goal is to help my students succeed.
I have a strong background in math and science, and have tutored students in these subjects at all levels, from elementary school to college. I have also helped students prepare for standardized tests such as the SAT and ACT. In addition to academic tutoring, I have also worked as a swim coach and a camp counselor, and have experience working with children with special needs.
0.00
0 Reviews
10+ Question Solved
Related Book For
Cambridge IGCSE And O Level Accounting Coursebook
ISBN: 9781316502778
2nd Edition
Authors: Catherine Coucom
Question Posted:
Students also viewed these Business questions
-
The summarized statements for the year ended 31 December 2007 for Mat, Rug and P entities are as follows: Statements of comprehensive income for the year ended 31 December 2007 The following...
-
During the year ended 31 December 2018 Pakyi Ltd invested in a convertible bond on its issue date. The bond matures four years after the issue date and at that date the bond can be converted into...
-
2. The accounting profit before tax for the year ended 31 December 2020 for Marmadey Sdn Bhd amounted to RM37,000. The draft statement of financial position at 31 December 2020 contained the...
-
Most websites have images. There are many different features and functionalities that can be used to work with images via the use of JavaScript. These include preloading, rollovers, and cycling...
-
What is relationship quality, and how does a relationship create value?
-
Wilson Owen manages administrative operations for a major medical center in Houston, Texas. In response to the rising cost of health care, he is always looking for ways to save money. In fact, part...
-
A cylindrical volume of space contains a uniform magnetic field of magnitude \(0.12 \mathrm{~T}\) but unknown direction. If the dimensions of the cylindrical volume are length \(\ell=0.060...
-
A new machine costing $100,000 is expected to save the McKaig Brick Company $15,000 per year for 12 years before depreciation and taxes. The machine will be depreciated on a straight-line basis for a...
-
1. A planet is revolving around the sun in an elliptical orbit. The mass of planet is m, angular momentum of planet about sun is L, and length of semi major axis is a and eccentricity is e. Time...
-
Given the following total-revenue and total cost functions of a firm. TR- 22Q-0.5Q TC=1/3 Q2-8.5Q2 +50Q +90 Where, TR Total revenue TC Total cost Q Quantity of output Determine the level of output at...
-
Priti is a trader. Her financial year ends on 31 March. Her trial balance on 31 March 204 was as follows: Additional information: 1. At 31 March 204: Inventory was valued at $41,050. Commission...
-
The treasurer of the YY Club provided the following information: Prepare a receipts and payments account for the year ended 30 April 208 showing the amount paid for running expenses during the year....
-
1. The court seemed to place importance on the fact that Torma gathered the information while at work and working on motors serviced by Northern Electric, and little emphasis on the fact that Torma...
-
You have recently taken out a loan of $338,000 with an Annual Percentage Rate (APR) of 6.3%. The loan term is 10 years, with fixed monthly payments. Calculate the monthly payment amount of loan.
-
Describe one major health policy decision (US or state level) you think was done right and explain why? Describe one major policy decision (US or state level) you think was done wrong and explain how...
-
How do respiratory disorders like chronic obstructive pulmonary disease (COPD) and asthma affect lung function, gas exchange, and overall systemic physiology, particularly in terms of their long-term...
-
Explain Briefly Does globalization make the rich richer and the poor poorer, or does it help everyone become wealthier?
-
Which is not the reason why there has been push towards NGO accountability? Declining worldwide trust in governments, which created a space for civil society. Influence of NGOs got increased in...
-
Why would you expect a C--C bond formed sp2-sp2 by overlap to be stronger than a bond formed by sp3-sp3 overlap?
-
Find the intercepts and then graph the line. (a) 2x - 3y = 6 (b) 10 - 5x = 2y
-
Distinguish between the following pairs of items that appear on operating statements: (a) Gross sales and net sales, (b) Purchases at billed cost and purchases at net cost.
-
How does gross margin differ from gross profit? From net profit?
-
Explain the similarity between markups and gross margin. What connection do markdowns have with the operating statement?
-
You quit your job where you earned a year to start your own widget business. To start your business, you cashed in your investments of which earned you a year in interest. In the first year, you sold...
-
The following information is provided for a company. Accounts payable Buildings Cash $36,000 $192,000 $25,200 Accounts receivable $22,800 Salaries payable $10,800 Retained earnings $114,000 Supplies...
-
Company A has the following information applicable to its products: Total Overheads = 100,000 Total machine Hours = 50,000 Product A B Units of Production 2,500 5,000 Material Cost p/unit Labour Cost...
Study smarter with the SolutionInn App