Question: Question 2 Additional Information a) Interest revenue eamed but not yet collected $900. b) Rental revenue of $1520 for the month of January 2020 was

Question 2 Additional Information a) Interest revenue eamed but not yet

Question 2 Additional Information a) Interest revenue eamed but not yet collected $900. b) Rental revenue of $1520 for the month of January 2020 was paid on 28th December 2019. d) Advertising expenses outstanding at $700. e) Salary owing at 31 December 2019 is $2,600 f) Inventory at 31 December 2019$5600. Required: Prepare the Income statement for the year ended 31 December 2019 and statement of financial position as at that date

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Case 2 The unadjusted trial balance of Al Rustaq Tourism LLC is given below. Case 2 The unadjusted trial balance of Al Rustaq Tourism LLC is given below. Al Rustaq Tourism LLC Unadjusted Trial...

Answer all the cases. 25.000 Case 1 Presented below is the unadjusted trial balance of Al Saf IT Consultancy Ibra for the year ended December 31, 2019: Al Safa IT Consultancy Ibra Unadjusted Trial...

Question (100 marks) The following trial balance extract (i.e. it is not a complete trial balance) relates to Williamsons Co. as at 30 June 2020: $'000 $'000 Revenue (note (i)) 113,500 Cost of sales...

ACC 121 Accounting Cycle Project (ACP) Part II Splashing Around's transactions for January through March follow; Jan 4 The company paid cash to Julie Kruit for five days' work at the rate of $136 per...

2. Reliefs for the Year of Assessment (YA) 2020. RM 9,000 6,000 4,000 3,500 5,000 1.500 per parent 6,000 6,000 2,000 6,000 Personal relief Disabled taxpayer (additional relief) Spouse relief Disabled...

This is a full project that needs the following entries recorded - General Ledger, General Ledger - January, January Trial Balance, General Journal - February, February Trial Balance, General Journal...

Fill out the information provided using the following forms listed : form 1040, schedule A, Schedule b, schedule c shedule d, schedule e, schedule SE, form 2106-EZ, form 4562 (dental practice), form...

Non-Merchandising Transaction Jan. 2 Collected $3,700 on account. Paid the utilities and telephone bills from December. (On December 20, the company received bills for the telephone ($310) and...

i have posted the beginning questions already but havent got an answer yet. this is the other information updated STOP STOP HERE Check Steps 7-9 10. Prepare the March Bank Reconciliation using the...

Hi. Please assist with multiple choice questions 26 - 30 as well as question 1 (written calculation question). This is based in on the South African Tax System. VAT Rate is 15%, Company Tax Rate is...

this will allow your classmates to understand the essence of your swot analysis. do not simply cut-and-paste from your paper. also add you recommendations/action steps. so you are giving your...

A disk of radius R (Fig P25.71) has a non-uniform surface charge density 0 = Cr, where C is a constant and r is measured from the center of the disk. Find (by direct integration) the potential at P. R

Which of the following best describes the main reason for preparing the Statement of Cash Flows? To show the company's profitability over a period To track the company's assets and liabilities To...

Which of the following are problems with identifying users of ABC? Multiple select question. ABC means different things to different organizations. Organizations will announce the discontinuance of...

Describe how outsourcing HRM activities can improve service delivery efficiency and effectiveness. page 679

As a class, list the possible sources when recruiting the following: a labourer in a sawmill; a laboratory technician for a hospital; a manager for a retail shop; and a design engineer for a car-...

List the competencies the HRM executive needs to become a strategic partner in the company. page 689