The financial year end for Florence Ltd is 31 December 20X7. Calculate the amount charged to the
Question:
The financial year end for Florence Ltd is 31 December 20X7. Calculate the amount charged to the income statement and the balance outstanding (for the balance sheet) in respect of the following items:
Transcribed Image Text:
(a) Motor expenses Paid in year 2,232 Owing at 31.12.X7 310 (b) Insurance Paid in year 5,400 Prepaid at 31.12.X6 760 (c) Stationery Paid in year 2,200 Owing at 31.12.X6 150 Owing at 31.12.X7 520 (d) Rent Paid in year 5,760 Prepaid at 31.12.X6 400 Prepaid at 31.12.X7 280
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
Answered By
Tobias sifuna
I am an individual who possesses a unique set of skills and qualities that make me well-suited for content and academic writing. I have a strong writing ability, allowing me to communicate ideas and arguments in a clear, concise, and effective manner. My writing is backed by extensive research skills, enabling me to gather information from credible sources to support my arguments. I also have critical thinking skills, which allow me to analyze information, draw informed conclusions, and present my arguments in a logical and convincing manner. Additionally, I have an eye for detail and the ability to carefully proofread my work, ensuring that it is free of errors and that all sources are properly cited. Time management skills are another key strength that allow me to meet deadlines and prioritize tasks effectively. Communication skills, including the ability to collaborate with others, including editors, peer reviewers, and subject matter experts, are also important qualities that I have. I am also adaptable, capable of writing on a variety of topics and adjusting my writing style and tone to meet the needs of different audiences and projects. Lastly, I am driven by a passion for writing, which continually drives me to improve my skills and produce high-quality work.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Financial Accounting An International Introduction
ISBN: 9781292102993
6th Edition
Authors: David Alexander, Christopher Nobe
Question Posted:
Students also viewed these Business questions
-
Math Practice Problems 1. Below is a sketch of a function, y = f(x). N -24 -21 -18 -15 -12 -96 -3 9 12 15 18 21 24 dy a. For what values of x is = f'(x) < 0? dx dy b. For what values of x is = f'(x)...
-
The income statement and consolidated balance sheets for Front Row Entertainment follow. Front Row Entertainment Inc. Income Statement For the Year Ended December 31, 2012 Additional information:...
-
Required a. Use professional judgment in deciding on the preliminary judgment about materiality for earnings, current assets, current liabilities, and total assets. Your conclusions should be stated...
-
Your company, Printers Inc., is considering investing in a new plant to manufacture a new generation of 3D printers developed by the firms research and development (R&D) department. A consulting...
-
How do general and limited partners treat their share of ordinary business income for self-employment tax purposes?
-
Draw up A Bricks balance sheet as at 30 June 20X6 from the following items: Capital Equipment Creditors Stock of goods Debtors Cash at bank 10,200 3,400 4,100 3,600 4,500 2,800
-
1. Choose a CAFR from a city, county, or other local government. Review the CAFR and answer the following questions: a. How many governmental funds does the government have? List the name of one...
-
MULTIPLE-CHOICE QUESTIONS 1. Which of the following is not a reason that audit firms continue to experience high levels of litigation? a. Joint and several liability statutes. b. Class action...
-
The stockholders equity accounts of Flint Corporation on January 1, 2017, were as follows. Preferred Stock (8%, $100 par noncumulative, 5,000 shares authorized) $300,000 Common Stock ($4 stated...
-
The following income statement and balance sheet have been prepared for Joburg Co. After the accounts were prepared, the following information became available. 1. Interest payable on the long-term...
-
Geneva Ltd has a year end of 30 June for its financial statements. You are provided with the following information relating to rent payable: You are required to: calculate the amount that should be...
-
Poissons ratio for polyethylene is 0.45. What change in volume takes place when a cube of polyethylene of volume 1.0 cm 3 is subjected to a uniaxial stress that produces a strain of 1.0 per cent?
-
A four-lane urban freeway (two lanes in each direction) is located on rolling terrain and has 12-ft lanes, no lateral obstructions within 6 ft of the pavement edges, and an interchange every 2 miles....
-
In January, 1993, there were about 1,313,000 internet hosts. During the next five years, the number of hosts increased by about 100% per year. a. Write a model giving the number h (in millions) of...
-
Allison, Inc., produces two products, X and Y, in a single joint process. Last month the joint costs were P75,000 when 10,000 units of Product X and 15,000 units of Product Y were produced....
-
8+0.5 = 4. Consider a system with a lead compensator Ge(s) = +0.13 followed by a plant G(s) = 10 Determine a value for a gain K on the error signal such that the phase margin s(s+1) of the open-loop...
-
Standard Normal Distribution. In Exercises 17-36, assume that a randomly selected subject is given a bone density test. Those test scores are normally distributed with a mean of 0 and a standard...
-
Gardi Inc. sold a unit of inventory to a buyer for $1,000 payable in one year. Gardi estimates that the interest rate for a similar financing arrangement would be 8%. The unit of inventory normally...
-
San Carlos Bank and Trust Company uses a credit-scoring system to evaluate most consumer loans that amount to more than $2,500. The key factors used in its scoring system are found at the conclusion...
-
Show that the convexity for a zero coupon bond with m payments per year is (m) n(n + -)(1+ m m
-
Abdul Canarte , a Central Bank economist, noticed that the total group purchasing basket of goods (CPI) has gone from $149,740.00 to $344,460.00 in 8 years. With monthly compounding, what is the...
-
ABC Corporation expects sales next year to be $50,000,000. Inventory and accounts receivable (combined) will increase $8,000,000 to accommodate this sales level. The company has a profit margin of 6...
Study smarter with the SolutionInn App