The following balances are taken from the accounting book of Hillside Hotel Sdn Bhd as at...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following balances are taken from the accounting book of Hillside Hotel Sdn Bhd as at 1 December 2020 Particular Motor Vehicle Building Furnitures and Fitting Bank December 2 5 Account Receivable - Ministry of International Trade Account Payable - Matilda Florist The following are transactions that incurred in December 2020 12 17 21 22 23 28 30 RM 150,000 (a) (b) (c) (d) 800,000 145,000 235,000 29,600 8,500 Hillside Hotel bought goods for its café on credit from Fresh Supply amounting RM3,800. REQUIRED: Hotel's revenue of RM6,500 cash was recorded at end of day. The hotel's café recorded cash sales of for RM600. Income from Agoda was RM4,700 at the end. Hillside policy to record this as credit sales. Hillside Hotel return RM500 to Fresh Supply due to defects. Hillside Hotel received a ballroom booking and events from ZARA Enterprise for their grand opening events worth RM25,000. ZARA Enterprise paid RM5,000 as deposit and the balance are invoiced. Hillside Hotel received RM10,000 from Ministry of International Trade being partial payment. Hillside Hotel pays the following: RM12,000 of staff wages and utilities RM4,200. One of the hotel's partner, Luke withdraw RM2,000 for his personal use. Calculate the capital amount. Prepare the Journal entries to record all transactions. Post all the entries to the ledger and close the account. Prepare Trial Balance as at 31 December 2020. The following balances are taken from the accounting book of Hillside Hotel Sdn Bhd as at 1 December 2020 Particular Motor Vehicle Building Furnitures and Fitting Bank December 2 5 Account Receivable - Ministry of International Trade Account Payable - Matilda Florist The following are transactions that incurred in December 2020 12 17 21 22 23 28 30 RM 150,000 (a) (b) (c) (d) 800,000 145,000 235,000 29,600 8,500 Hillside Hotel bought goods for its café on credit from Fresh Supply amounting RM3,800. REQUIRED: Hotel's revenue of RM6,500 cash was recorded at end of day. The hotel's café recorded cash sales of for RM600. Income from Agoda was RM4,700 at the end. Hillside policy to record this as credit sales. Hillside Hotel return RM500 to Fresh Supply due to defects. Hillside Hotel received a ballroom booking and events from ZARA Enterprise for their grand opening events worth RM25,000. ZARA Enterprise paid RM5,000 as deposit and the balance are invoiced. Hillside Hotel received RM10,000 from Ministry of International Trade being partial payment. Hillside Hotel pays the following: RM12,000 of staff wages and utilities RM4,200. One of the hotel's partner, Luke withdraw RM2,000 for his personal use. Calculate the capital amount. Prepare the Journal entries to record all transactions. Post all the entries to the ledger and close the account. Prepare Trial Balance as at 31 December 2020.
Expert Answer:
Answer rating: 100% (QA)
ANSWER A Capital in RM B Date Dec 2 Dec5 Dec12 pec ... View the full answer
Related Book For
Accounting Introduction To Financial Accounting
ISBN: 9781517089719
1st Edition
Authors: Henry Dauderis, David Annand
Posted Date:
Students also viewed these accounting questions
-
Question: 1 a) Budget an income statement for the months of January, February and March 2018, with the following information i) Actual sales for the month of October November and December 2017 ii)...
-
Jen and Berry's sells ice-creams from its factory-shop in Petone. There is a managing director (Maynard Dibble), a marketing manager (Mary Salman) and a production manager (Peter Pritchard). Maynard...
-
Joy Bhd has been an established public listed company since 2015 that involved in manufacturing and distributing of aromatherapy products such as therapeutic grade essential oils, aromatherapy...
-
Which of the following statements about an acquiescence is correct? a. Acquiescences are published only for certain regular decisions of the U.S. Tax Court. b. The IRS does not issue acquiescences to...
-
Olympic sports has a markup of $280 on a Schwinn Bowflex. If this is a 35% markup on selling price, find a) The selling price b) The cost c) The cost as a percent of selling price
-
A7X Corp. just paid a dividend of $1.55 per share. The dividends are expected to grow at 27 percent for the next eight years and then level off to a growth rate of 3.5 percent indefinitely. If the...
-
When you would use claim and delivery?
-
1. Describe how the work thats done at Google can result in employees feeling both very stressed and also very positive about their work and the company. In what way do these effects depend on Google...
-
What are the implications of cognitive biases and heuristics on managerial decision-making processes, and how can organizations mitigate their effects to promote rational and strategic choices ?
-
The Morton Ward Company is considering the introduction of a new product that is believed to have a 50-50 chance of being successful. One option is to try out the product in a test market, at an...
-
Edge Company produces two models of its product with the same machine. The machine has a capacity of 166 hours per month. The following information is available. Selling price per unit Variable costs...
-
We are given the following information for Pettit Corporation. Sales (credit) Cash Inventory Current liabilities Asset turnover Current ratio Debt-to-assets ratio Receivables turnover $4,344,000...
-
Meet Jackie. She has a phobia of dogs that she has had since she was 3 years old. When Jackie was 3, she was playing in her yard and a neighbors dog came up to her and bit her hand. Jackie had to go...
-
Problem 1 The following information are presented to you in connection with the determination of the fringe benefits tax of the general manager of Orchids merchandising for 2023: Paid by the company...
-
-Convert 357 km into miles -Convert 2.40 mm into inch. -The density of the lightest metal lithium is 5.34 X 10 3 kg/m 3 . Convert the density to g/cm 3
-
Electron Americas can manufacture the new smartphones at 50% of the sales revenue. Fixed costs for the operation are estimated to run $4.3 million per year. The estimated sales volume is 75,000,...
-
In the email below are there any issues of user-centered design, brevity and grammatical errors. How would you rewrite the email? To: Shipping staff Fr: Michael Rogers, Deliveries Manager You know by...
-
7. FALSE DILEMMA 8. GANDWAGON Definition: Fallacy example: How to revise argument: Definition: Fallacy example: How to revise argument:
-
List and explain some bondholder rights.
-
Midlife Corp. is in the process of preparing its financial statements as at May 31, 2016. It has a consistent mark-up of 200% on goods it sells. The following information is available for the five...
-
Refer to CP 12-1. Assume that the proprietorship is instead a corporation named R. Black Ltd., with 1,000 common shares issued on January 1, 2016 for a stated value of $5 per share. Assume there are...
-
The mean free path \(\lambda\) of a molecule of gas is the average distance it travels before collision with another molecule. It is given by \[\lambda=C \frac{m}{ho d^{2}}\] where \(m\) and \(d\)...
-
A rectangular gate (width \(w=2 \mathrm{~m}\) ) is hinged as shown, with a stop on the lower edge. At what depth \(H\) will the gate tip? Water H 0.55 m 0.45 m P3.46 Hinge Stop
-
Gates in the Poe Lock at Sault Ste. Marie, Michigan, close a channel \(W=34 \mathrm{~m}\) wide, \(L=360 \mathrm{~m}\) long, and \(D=10 \mathrm{~m}\) deep. The geometry of one pair of gates is shown;...
Study smarter with the SolutionInn App