Carsten Berkau: Bilanzen Aufgaben zu Kapitel 4

BODORP (Pty) Ltd's STATEMENT of FINANCIAL POSITION as at eoy 20X5

Aufgabe QR-10.10: Direkte Methode mit Vergleich von Ein- und Auszahlungen (Direct Method with Comparison of Cash Inflow and Cash Outflow) BODORP (Pty) Ltd is a marketing consultancy. The company has 10

Carsten Berkau: Bilanzen Aufgaben zu Kapitel 4

Aufgabe QR-4.8: Trial Balance (Trial Balance): WYNBERG Ltd. renders office services and was established on 1.01.20X8. The company is based on shares. On the first day it issued 50,000 shares 1.00 EUR each.

Carsten Berkau: Bilanzen Aufgaben zu Kapitel 10

Aufgabe QR-10.2: Direkte Methode mit Überleitungsrechnung (Direct Method via Reconciliation of Cash Flows) (To do this task you should read pages 254ff.) HEYWHA TAILOR Ltd. produces high priced T-shirts

Exhibit 1: Trial balance. You are the accountant of GUGULETO Ltd. and have to make bookkeeping entries for the adjustments.

Aufgabe 0.13: Trial Balance The pizza restaurant GUGULETO Ltd. was formed on 1.01.20X3 and records during the accounting period of 20X3 all bookkeeping entries. The business is a limited company and comes

Carsten Berkau: Bilanzen Aufgaben zu Kapitel 6

Aufgabe QR-6.4: Set up Financial Statements along IAS 1 (Erstellen eines Jahresabschlusses gemäß IAS 1) You got hold of BELLVILLE Ltd s trial balance. BELLVILLE is a DVD rental shop and buys DVDs from

Carsten Berkau: Bilanzen Aufgaben zu Kapitel 4

Aufgabe QR-4.5: Jahresabschlusserstellung (Financial Statement Preparation) (This task refers to chapter 4.3 and is similar to task 9.6 (internet task). In comparison to the task in chapter 9 this task

Carsten Berkau: Bilanzen Aufgaben zu Kapitel 7

Aufgabe QR-7.19: Wertaufholung und Realization Account (Reversal Impairment Loss and Realization Account) SUNNINGDALE Ltd. is in the food retail business. For the delivery of the goods SUNNINGDALE uses

KUHLHOF Ltd. is a service provider. The company offers accounting service to companies.

Aufgabe 0.1: Exercise on Preparing Financial Statements KUHLHOF Ltd. is a service provider. The company offers accounting service to companies. Activity 1: KUHLHOF Ltd. is established on 1.01.20X5 by a

Solution: (1) Establishment of the business on X5 DR Cash/Bank... 20, EUR CR Owner s Equity... 20, EUR

Aufgabe 0.2: Exercise on Subsidiary Ledgers SITTEN (Pty) Ltd. is a production firm and service provider. The company is birthday cake-on-demand bakery. The company is established as sole trader. The owner

Carsten Berkau: Bilanzen Solution to Chapter 9

Aufgabe 9.23: Inventory valuation and cost rates KRONSBERG Ltd. is a production firm. The company produces paper cups for cafeterias. The cups consist of paper and glue. On top there is a plastic lid.

(1) Issue of 120,000 ordinary shares DR Cash/Bank , EUR CR Issued Capital , EUR

Bookkeeping Entries for SUNNY AG in 20X1 (1) Issue of 120,000 ordinary shares R ash/bank... 600,000.00 EUR R Issued apital... 600,000.00 EUR (2) Taking a bank loan R ash/bank... 300,000.00 EUR R Interest

Task IM-8.10: Consolidated Financial Statements (based on CPUT materials, W. Lotter)

Task IM-8.10: Consolidated Financial Statements (based on CPUT materials, W. Lotter) DEVON Ltd. holds 150 shares of ELISBURG Ltd. and 330 shares of FRANSHOOK Ltd. See the case as depicted in below. The

INVENTORY MOVEMENTS FOR KHAYELITSHA RETAIL Ltd. for 2/20X9

Aufgabe 9.4: Perpetual System und FIFO-Methode (Perpetual System and FIFO Method for Inventory Valuation) (For this task you should be familiar with perpetual system covered on page 220 and cost formulas

Solution to Problem 31 Adjusting entries. Solution to Problem 32 Closing entries.

Solution to Problem 31 Adjusting entries. 1. Utilities expense 27,000 Accounts payable 27,000 2. Rent revenue 4,000 Unearned revenue 4,000 3. Supplies 2,000 Supplies expense 2,000 4. Interest receivable

- A resource - Controlled by the entity - As a result of a past event - From economic benefits are expected to flow to the entity.

Elements and recognition criteria 1. Identify the definition for each of these elements: a. Assets b. Liabilities c. Equity d. Income e. Expenses - A resource - Controlled by the entity - As a result of

CHAPTER 3. Topics in Chapter. Analysis of Financial Statements

CHAPTER 3 Analysis of Financial Statements 1 Topics in Chapter Ratio analysis DuPont equation Effects of improving ratios Limitations of ratio analysis Qualitative factors 2 Determinants of Intrinsic Value:

(Accrual and Prepayment)

Accrual and Prepayment Longman Question 13 The following balances were extracted from the ledgers of Mr Ko at 31 March 2014: $ Telephone 12,355 Dr Rent and rates 55,000 Dr Loan to Bob 450,000 Dr Rental

QUESTION 2 IAS 1 (CAF5 A15) Following is the summarised trial balance of Eagles Limited (EL) as at 30 June 2015: Debit Rs. in 000

QUESTION 2 IAS 1 (CAF5 A15) Following is the summarised trial balance of Eagles Limited (EL) as at 30 June 2015: Debit Credit Plant 2,500 Acc. depreciation at 1 July 2014 Equipment 700 Plant 1,000 Stock

Net Profit Add: interest on drawings: Jane x Allen x 5

ACCOUNTING ORDINARY LEVEL GRADE 12 1 1. Jane and Allen are in partnership. Their partnership agreement provides that 1. Interest on capital is allowed at 10% per annum. 2. Interest on drawings is charged

Week four. Debit (Dr) side. Lectures Page 1. Monday, 22 August 2016

Week four Monday, 22 August 1:22 PM What is a general ledger? General ledger- summary of each account A general ledger contains all the assets, liabilities and equity accounts, Collection of all the individual

FAC1502 Revision material

FAC1502 Revision material PROGRAM Examination issues General problem areas Q & A IMPORTANCE of module This module - foundation of all your studies in accounting Ensure that you understand and know everything

4-1 COMPLETING THE ACCOUNTING CYCLE

4-1 COMPLETING THE ACCOUNTING CYCLE Atanas Atanasov Assist.prof. University of Economics - Varna Steps in Accounting Cycle 4-2 134 Analyze source documents. Journalize transactions in the journal. Post

FINANCIAL ACCOUNTING

FINANCIAL ACCOUNTING FORMATION 2 EXAMINATION - APRIL 2013 NOTES: You are required to answer Question 1. You are also required to answer any three out of Questions 2 to 5. (If you provide answers to all

SIR MICHELANGELO REFALO

SIR MICHELANGELO REFALO SIXTH FORM Half-Yearly Exam 2015 Subject: ACCOUNTING ADV 1 st Time: 3 hrs Section A Answer all the questions in this section 1. Some clubs operate life membership schemes. (a) How

BUS210. Chapter 4 Sessions 4, 5, 6, & 7 Mechanics of Financial Information

BUS210 Chapter 4 Sessions 4, 5, 6, & 7 Mechanics of Financial Information Connecting the Accounting Equation with Transactions: Journal Entries, T Accounts E4-9 Prepare journal entries for each cash transaction

Lesson 4. Lesson 4. Cash. Beg. Balance End. Balance. 30 Liability. Accounting Cycle Part Stephen's Sweet Shop Trial Balance

Lesson 4 Financial Accounting (Information useful to investors and creditors.) The primary tool for investors and creditors are the financial statements to be prepared in accordance with generally accepted

Adjustments, Financial Statements and the Quality of Earnings

Adjustments, Financial Statements and the Quality of Earnings Chapter 4 Accounting Cycle 4-2 1 Unadjusted Trial Balance Listing of all the balance sheet and income statement accounts, usually in financial

FEEDBACK TUTORIAL LETTER ASSIGNMENT 2 FIRST SEMESTER 2017 FINANCIAL ACCOUNTING 3A [FAC311S]

FEEDBACK TUTORIAL LETTER ASSIGNMENT 2 FIRST SEMESTER 2017 FINANCIAL ACCOUNTING 3A [FAC311S] 1 Question 1 28 marks Most students found some difficulties in determining the payment of the lease. They just

Osborne Books Tutor Zone. Advanced Bookkeeping. Practice assessment 1

Osborne Books Tutor Zone Advanced Bookkeeping Practice assessment 1 Osborne Books Limited, 2016 2 a d v a n c e d b o o k k e e p i n g t u t o r z o n e Task 1 This task is about non-current assets. You

Chapter 3: Accrual Accounting Basics

Chapter 3: Accrual Accounting Basics Revenues are recognized when resources are created as part of the organization's operating activities. Expenses are recognized when resources are consumed as part of

CHAPTER 4 EXERCISES: SET B. E4-1B The trial balance columns of the worksheet for Lamar Company at June 30, 2017, are as follows.

CHAPTER 4 EXERCISES: SET B E4-1B The trial balance columns of the worksheet for Lamar Company at June 30, 2017, are as follows. Complete the worksheet. LAMAR COMPANY Worksheet for the Month Ended June

Cash. Laundry Equipment. Hilda Dinero, Capital Oct. 31 Clos. 1,000 Oct. 31 Bal. 18, Clos. 12, Bal. 30,200

1, 3, 6. Oct. 31 Bal. 1,450 Cash Laundry Supplies Oct. 31 Bal. 3,750 Oct. 31 Adj. 2,800 31 Adj. Bal. 950 Prepaid Insurance Oct. 31 Bal. 2,400 Oct. 31 Adj. 2,000 31 Adj. Bal. 400 Oct. 31 Bal. 54,500 Laundry

(50) BASIC ACCOUNTING

All Rights Reserved Time: 03 hours THE ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA Instructions to candidates FOUNDATION EXAMINATION - JANUARY 2015 (50) BASIC ACCOUNTING (1) This paper consists

Chapter 6 Accounting Adjustments and Working papers

Chapter 6 Accounting Adjustments and Working papers Topics 1. Cash basis vs. Accrual Basis 2. Accrued Income 3. Accrued Expenses 4. Prepaid Expenses 5. Unearned Income 6. Depreciation 7. Supply Expenses

Manufacturing Accounts

All questions copyright of Cambridge International Examinations 1 Manufacturing Accounts All questions copyright of Cambridge International Examinations 2 2 1 The following balances were extracted from

CHAPTER 8 REVIEW EXERCISES (continued) Exercise 7, p. 326 A. Year Ended December 31, 20 8 BALANCE SHEET INCOME STATEMENT ADJUSTMENTS TRIAL BALANCE

Exercise 7, p. 326 A. Oakville Journal Worksheet Year Ended December, 28 TRIAL BALANCE ACCOUNTS ADJUSTMENTS INCOME STATEMENT BALANCE SHEET Bank Accounts Receivable Prepaid Insurance Land Buildings Acc.

Please write all your answers in blue or black ink in the answer book provided. There are 3 questions to attempt.

Desk Number. University Card Number FOUNDATION Mid Term Assessment Group November 2016 Accounting 1.5 hours Instructions Please write all your answers in blue or black ink in the answer book provided.

download from https://testbankgo.eu/p/

CHAPTER 3 ADJUSTING THE ACCOUNTS SUMMARY OF QUESTIONS BY OBJECTIVES AND BLOOM S TAXONOMY Item SO BT Item SO BT Item SO BT Item SO BT Item SO BT True-False Statements 1. 1 C 9. 2 C 17. 5 C 25. 5 K 33. 3

FINANCIAL STATEMENTS OF TRADING COMPANIES

FINANCIAL STATEMENTS OF TRADING COMPANIES QUESTION ONE The trial balance of Beta Limited as at 31 st December, 2016 is as follows: Dr Cr GH GH Sales and Purchases 20,000 50,000 Inventory 8,000 Distribution

Chapter 6 Statement of Cash Flows

Chapter 6 Statement of Cash Flows The Statement of Cash Flows describes the cash inflows and outflows for the firm based upon three categories of activities. Operating Activities: Generally include transactions

QUESTIONS NUMBER ONE. Sh. Million. Sh. Million 99

NUMBER ONE QUESTIONS Centum Ltd(CL). is a company quoted on the Nairobi Stock Exchange. It makes up its accounts to 31 March each year. The balance of the company as at 31 March 2003 is as follows: Administrative

XI - ACCOUNTING REGULAR / PRIVATE

The workings under the heading of Additional Working are not required according to the requirement of the examiner. These are only for understanding the solutions. For more help, visit www.a4accounting.net

XI ACCOUNTING REGULAR / PRIVATE

The workings under the heading of Additional Working are not required according to the requirement of the examiner. These are only for understanding the solutions. For more help, visit www.a4accounting.net

XI ACCOUNTING REGULAR / PRIVATE

The workings under the heading of Additional Working are not required according to the requirement of the examiner. These are only for understanding the solutions. For more help, visit www.a4accounting.net

ACC100 Introduction to Accounting

ACC100 Introduction to Accounting Week 4 Recording Transactions Chapter 3 - Recording Transactions Study Group Australia Pty Limited, SGA1286-F2/10/12 2 Learning Outcomes On completion of this week s study,

Student Learning Outcomes

Chapter 2 Topic 1 Consolidated Statements: Date of Acquisition Dr. Chula King Advanced Accounting The University of West Florida 1 Student Learning Outcomes Net asset acquisition versus stock acquisition

B.COM I ACCOUNTING REGULAR. S.Hussain

The workings under the heading of Additional Working are not required according to the requirement of the examiner. These are only for understanding the solutions. For more help, visit www.a4accounting.net

B Swift Dr Trading and Profit and Loss Account for the year ended the X6 Cr Opening Stock 300 Sales 6,700 4,260 Closing Stock 550 4,560 Gross Pr

Recording depreciation Depreciation within the double-entry system Fixed assets accounts are always kept for showing assets at cost price. This adheres to the Historic Cost accounting concept. As a result,

CHAPTER 12. Statement of Cash Flows. Study Objectives

CHAPTER 12 Statement of Cash Flows Study Objectives Indicate the primary purpose of the statement of cash flows. Distinguish among operating, investing, and financing activities. Explain the impact of

PRINT Name: Brief Answer Key.

Financial & Managerial Accounting Fall 2009 Exam 2 General Instructions. Make sure you write answers clearly. Make sure to show your work when appropriate partial credit can be given for work shown. Finally,

SOLUTIONS. Learning Goal 13

S1 Learning Goal 13 Multiple Choice 1. b 2. c 3. c 4. b 5. c 6. a 7. b 8. d Whatever the beginning balance was in the Prepaid Insurance account, plus the insurance that was purchased during the period,

Required: Calculate the current tax payable (for SFP) and relevant current tax expense (for SPL) for the year 2011.

IAS 12 Income Taxes CURRENT TAX DEFINITIONS Accounting profit Taxable profit (tax loss) Tax expense (tax income) Current tax is profit or loss for a period before deducting tax expense. is the profit (loss)

MARK SCHEME for the May/June 2011 question paper for the guidance of teachers 0452 ACCOUNTING. 0452/11 Paper 1, maximum raw mark 120

UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the May/June 2011 question paper for the guidance of teachers 0452 ACCOUNTING

Osborne Books Update. Final Accounts Preparation Tutorial. Amended pages 67 to 71 Case Study: ELECTROPARTS

Osborne Books Update Final Accounts Preparation Tutorial Amended pages 67 to 71 Case Study: ELECTROPARTS October 2018 a m e n d e d pa g e s 6 7 t o 7 1 C a s e s t u d y: e l e C t r o pa r t s The following

NOVEMBER 2016 PROFESSIONAL EXAMINATION FINANCIAL ACCOUNTING (PAPER 1.1) CHIEF EXAMINER S REPORT, QUESTIONS AND MARKING SCHEME

NOVEMBER 2016 PROFESSIONAL EXAMINATION FINANCIAL ACCOUNTING (PAPER 1.1) CHIEF EXAMINER S REPORT, QUESTIONS AND MARKING SCHEME GENERAL COMMENTS The standard of the question paper was good and candidates

CHAPTER 6 FINAL ACCOUNTS WITH ADJUSTMENTS

CHAPTER 6 FINAL ACCOUNTS WITH ADJUSTMENTS Suppose, the firm closes its books on 31st March and rent for the month of March has not been paid, this expense "rent" has been incurred and yet to be paid. Therefore,

MARK SCHEME for the October/November 2011 question paper for the guidance of teachers 9706 ACCOUNTING

UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Advanced Subsidiary Level and GCE Advanced Level MARK SCHEME for the October/November 2011 question paper for the guidance of teachers 9706 ACCOUNTING

Activity 1: Transactions

Activity 1: Transactions Prepare the general journal entries to record the following transactions for the business for the month of May 2016 (ignore GST): May 1 Owner deposited $50,000 of his own money

Do you subscribe to any magazines? Most of us subscribe

C H A P T E R 3 The Adjusting Process AP Photo/Jeff Kravitz M A R V E L E N T E R T A I N M E N T, I N C. Do you subscribe to any magazines? Most of us subscribe to one or more magazines such as Cosmopolitan,

The Accounting Cycle: Accruals and Deferrals

The Accounting Cycle: Accruals and Deferrals Chapter 4 McGraw-Hill/Irwin Copyright 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Adjusting Entries Adjusting entries are needed whenever revenue

Accounting Technicians Ireland First Year Examination: May 2017 Paper: FINANCIAL ACCOUNTING Tuesday 9 May a.m. to p.m.

Accounting Technicians Ireland First Year Examination: May 2017 Paper: FINANCIAL ACCOUNTING Tuesday 9 May 2017 9.30 a.m. to 12.30 p.m. INSTRUCTIONS TO CANDIDATES PLEASE READ CAREFULLY Candidates must indicate

Teacher: Mr. Jones ACCOUNTS WORKBOOK GRADE 11 PRINCE WILLIAMS HIGH SCHOOL TERM 1

Name: Class: Option: 1 Teacher: Mr. Jones ACCOUNTS WORKBOOK GRADE 11 PRINCE WILLIAMS HIGH SCHOOL TERM 1 INSTRUCTIONS TO CANDIDATES REVIEW NOTES AND ANSWER QUESTIONS PROVIDED ALL YOUR ANSWERS MUST BE WRITTEN

Answers to activities, practice exercises and exam practice questions

Answers to activities, practice exercises and exam practice questions This text has not been through the Cambridge endorsement process. 2 [1] The cheque which Noel cashed was for his personal expenses.

SPECIAL REVISION TEST -JANUARY -2018 VELLORE DT XII STD ACCONTANCY -KEY S NO FILL-UPS CHOOSE 1 Liabilities 16 Trading A/c 2 capital 17 sales 3 Capital 18 7500 4 19 Two places 5 Liabilities 20 Debtors A/c

Mid-term Examination Solutions

15.514 Mid-term Examination Solutions Name: About the exam: 1. The exam consists of a. The exam questions b. 5-page supplement with financial statements. 2. There are 87 points in total -- point allocations

FANLING LUTHERAN SECONDARY SCHOOL

FANLING LUTHERAN SECONDARY SCHOOL 2012 2013 2 nd Term Examination S.5 BUSINESS, ACCOUNTING AND FINANCIAL STUDIES Accounting Module Date : 20th June, 2013 Time allowed: 8:30 am - 11:00 am (2 hour 30 minutes)

After studying this chapter, you should be able to: adjusted account balances.

4 Completing the Accounting Cycle 1 After studying this chapter, you should be able to: 1. Describe the flow of accounting information from the unadjusted trial balance into the adjusted trial balance

S.5 BUSINESS, ACCOUNTING AND FINANCIAL STUDIES Accounting Module

FANLING LUTHERAN SECONDARY SCHOOL 2015 2016 FIRST TERM EXAM S.5 BUSINESS, ACCOUNTING AND FINANCIAL STUDIES Accounting Module Date : 19th January, 2016 Time allowed: 8:30 am - 10:45 am (2 hour 15 minutes)

db.wbn.leases.010 Determining lease measures and entries (Busy Beaver Woodwork Company)

Debt» What s Behind the Numbers» Leases» Exercises www.navigatingaccounting.com EXERCISES db.wbn.leases.010 Determining lease measures and entries (Busy Beaver Woodwork Company) Use the templates provided

Chart of Accounts ASSETS

This exam supplement includes a chart of accounts for all exam entries, BSE matrix for a fictitious company, financial statements from Dillards fiscal 2012 annual report, and Analysis Considerations Map

Financial Accounting. Sample Paper 3 Questions & Suggested Solutions. Page 1 of 31

Financial Accounting Sample Paper 3 Questions & Suggested Solutions Page 1 of 31 NOTES TO USERS ABOUT SAMPLE PAPERS Sample papers are published by Accounting Technicians Ireland. They are intended to provide

CHAPTER 6 FINAL ACCOUNTS WITH ADJUSTMENTS

CHAPTER 6 FINAL ACCOUNTS WITH ADJUSTMENTS When a person starts a business he wishes to know the financial performance of his business. A convenient and universally accepted method of knowing this is to

FORENSIC ACCOUNTING VERSION

FORENSIC ACCOUNTING VERSION Fraudulent or incorrect transactions are presented below. Your job as a forensic accountant is to correct the financial statements and determine how income and total assets

Name of business Statement of cash flows for the financial year end 31 December 20X1 (DIRECT METHOD) Inflow /(outflow)

Name of business Statement of cash flows for the financial year end 31 December 201 (DIRECT METHOD) Calc Notes Inflow /(outflow) CASH FLOWS FROM OPERATING ACTIVITIES Cash receipts from customers C1 Cash

UNIVERSITY OF BOLTON INSTITUTE OF MANAGEMENT ACCOUNTANCY SEMESTER ONE EXAMINATIONS 2017/2018 FINANCIAL ACCOUNTING FUNDAMENTALS MODULE NO: ACC4013

[IOM10] UNIVERSITY OF BOLTON INSTITUTE OF MANAGEMENT ACCOUNTANCY SEMESTER ONE EXAMINATIONS 2017/2018 FINANCIAL ACCOUNTING FUNDAMENTALS MODULE NO: ACC4013 Date: Wednesday 17 th January 2018 Time: 10:00

2. SCIATIC CO. Statement of Owner s Equity For the Year Ended July 31, 2006 Gary McNiven, capital, August 1, $376,600 Net income for the

Prob. 6 1B 1. SCIATIC CO. Income Statement For the Year Ended July 31, 2006 Revenue from sales: Sales... $1,028,000 Less: Sales returns and allowances... $ 18,480 Sales discounts... 17,520 36,000 Net sales...

PROBLEM 3-2B. (a) J1 Date Account Titles Ref. Debit Credit May 31 Insurance Expense Prepaid Insurance...

PROBLEM 3-2B (a) J1 Date Account Titles Ref. Debit Credit May 31 Insurance Expense... 722 190 Prepaid Insurance... ($2,280 X 1/12) 130 190 31 Supplies Expense... Supplies ($2,200 $)... 631 126 1,450 1,450

Learning Module 5 Time Value of Money & Hodgepodge of Other Stuff

Learning Module 5 Time Value of Money & Hodgepodge of Other Stuff The Concept of Future Value If you have $100 today and put it in the bank, how much will you have in the future? In order to put this concept

Learning Outcomes. The Basic Accounting Cycle

Chapter 2: Review of the Accounting Process Part 3: Accounting Cycle with Emphasis on Year End Activities Intermediate Accounting 1 Dr. Chula King Learning Outcomes After completing this part, you should

Final accounts for sole traders and partnerships

Osborne Books Tutor Zone Final accounts for sole traders and partnerships Practice assessment 2 Osborne Books Limited, 2013 2 f i n a l a c c o u n t s f o r s o l e t r a d e r s a n d p a r t n e r s

Exam ID 322. Qualifications: Level 3 Certificate in Bookkeeping QCF (Accreditation number: 500/8479/3)

Exam ID 322 Qualifications: Level 3 Certificate in Bookkeeping QCF (Accreditation number: 500/8479/3) Level 3 Certificate in Manual Bookkeeping QCF (Accreditation number: 500/9260/1) Level 3 Certificate

Chapter 2--Analyzing Transactions

Chapter 2--Analyzing Transactions Student: 1. Accounts are records of increases and decreases in individual financial statement items. 2. A chart of accounts is a listing of accounts that make up the journal.

SUGGESTED SOLUTIONS TO SELECTED QUESTIONS

SUGGESTED SOLUTIONS TO SELECTED QUESTIONS Chapter 4 4.7 Journal entries: 1. Funds introduced to business Dr Cash 50,000 Cr Proprietorship 50,000 2. Recording purchase of business Dr Plant 5,000 Dr Inventory

Jensen Wholesalers Corp.

Jensen Wholesalers Corp. A Comprehensive Case to Accompany Introduction to Financial Accounting First US Edition Prepared by David Annand Version 4125 Copyright 2018 David Annand Published by David Annand

The Accounting Cycle Accruals and Deferrals

The Accounting Cycle Accruals and Deferrals Chapter 4 McGraw-Hill/Irwin PowerPoint Authors: Susan Coomer Galbreath, Ph.D., CPA Charles W. Caldwell, D.B.A., CMA Jon A. Booker, Ph.D., CPA, CIA Cynthia J.

CHAPTER 3. Analysis of Financial Statements

CHAPTER 3 Analysis of Financial Statements 1 Topics in Chapter Ratio analysis Du Pont system Effects of improving ratios Limitations of ratio analysis Qualitative factors 2 Determinants of Intrinsic Value:

General Certificate of Education Advanced Level Examination June 2012

General Certificate of Education Advanced Level Examination June 2012 Accounting ACCN3 Unit 3 Further Aspects of Financial Accounting Tuesday 12 June 2012 9.00 am to 11.00 am For this paper you must have:

Chapter 1 Question Review 1

Chapter 1 Question Review 1 Chapter 1 Questions Multiple Choice 1. A business organized as a separate legal entity is a a. corporation. b. proprietor. c. government unit. d. partnership. 2. Which of the

DE ANZA COLLEGE ACCOUNTING 1A EXTRA CREDIT ASSIGNMENT. (Manual Case, and Working Papers) Scott Osborne, CPA

DE ANZA COLLEGE ACCOUNTING 1A EXTRA CREDIT ASSIGNMENT (Manual Case, and Working Papers) by Scott Osborne, CPA 1 EXPLANATION OF EXTRA CREDIT ASSIGNMENT The extra credit assignment consists of a manual accounting

Final a/c s of Sole Trader Solutions

Topic 1 Final a/c s of Sole Trader Solutions 2 Arnold 3 Brennan 4 Cullen 5 Darcy 6 Egan 7 Farrell 8 Grennan 2 Graded Accounting Questions Solutions 2 Arnold Solution (a) Trading Profit and loss a/c for

SUGGESTED SOLUTION IPCC NOVEMBER 2018 EXAM. Test Code -

SUGGESTED SOLUTION IPCC NOVEMBER 2018 EXAM COSTING Test Code - BRANCH - (MUMBAI-2 (DB) (Date : 01.07.2018) Head Office : Shraddha, 3 rd Floor, Near Chinai College, Andheri (E), Mumbai 69. Tel : (022) 26836666

WEEK 7 to 12: FINANCIAL ACCOUNTING FOR BUSINESS Accounting Cycle ACCOUNTING CYCLE STEP 1: RECOGNISE & RECORD TRANSACTIONS

WEEK 7 to 12: FINANCIAL ACCOUNTING FOR BUSINESS Accounting Cycle ACCOUNTING CYCLE STEP 1: RECOGNISE & RECORD TRANSACTIONS EXTERNAL TRANSACTIONS INTERNAL TRANSACTIONS NON-TRANSACTIONAL EVENTS Involves an

Prepare the necessary journal entries to correct the above. Narrations are not required.

Correction of errors HKDSE (2017, 5) (Correction of errors) ABC Limited drafted a trial balance as at 31 December 2016, before the preparation of the closing entries. As the trial balance did not agree,

Financials. Lecture 7

Financials Lecture 7 1 Financial statements Income statement (P/L) Balance sheet Beginning Cash Flow statement Balance sheet Ending Changes in Shareholder Equities 2 Business Financial Flow Collection

SOLUTION. JRE300H1F: Fundamentals of Accounting and Finance. MIDTERM EXAMINATION (30% of Final Grade): Fall Time Allowed: 1 hour and 50 minutes

JRE300H1F: Fundamentals of Accounting and Finance MIDTERM EXAMINATION (30% of Final Grade): Fall 2017 Time Allowed: 1 hour and 50 minutes SOLUTION LAST NAME: FIRST NAME: STUDENT NUMBER: Instructions: Write

SOLUTIONS TO EXERCISES SET B

SOLUTIONS TO EXERCISES SET B EXERCISE 5-1B 1 False. Measuring net income for a merchandiser is conceptually the same as measuring net income for a service company. 2. True. 3. False. For a merchandiser,

FINANCIAL ACCOUNTING PRINCIPLES (BAT4M) FINAL EXAMINATION

Canadian International Matriculation Programme Sunway College FINANCIAL ACCOUNTING PRINCIPLES (BAT4M) FINAL EXAMINATION Date : 5 December 2017 Time Length Lecturer : 8:30 a.m. 10:30 a.m. : 2 hours : Ms

ACCOUNTING AND FINANCE

EXAMINATION FOR ENTRANCE SCHOLARSHIPS AND EXHIBITIONS FEBRUARY 2014 ACCOUNTING AND FINANCE Time Allowed 2 hours YOU SHOULD ANSWER ONLY TWO QUESTIONS from the four questions, all of which carry equal marks.

ICAN MID DIET LIVE CLASS FOR MAY DIET 2015 FINANCIAL ACCOUNTING Introduction to financial accounting Recording non-current assets and depreciation

ICAN MID DIET LIVE CLASS FOR MAY DIET 2015 FINANCIAL ACCOUNTING Introduction to financial accounting Recording non-current assets and depreciation Compiling financial statement Compiling financial statement

ACC100 Introduction to Accounting

ACC100 Introduction to Accounting Week 6 Closing entries and preparing financial statements Chapter 4 (p148-162); and Chapter 5 Completing the accounting cycle closing and reversing entries. Study Group