Amy produced the following trial balance for her letting agency on 30 September 20X4. You are required
Question:
Amy produced the following trial balance for her letting agency on 30 September 20X4.
You are required to produce a statement of financial position for Amy as at 30 September 20X4.
Transcribed Image Text:
Freehold shop Capital (01.10.X3) Equipment 68,000 36,000 22,000 Drawings 26,800 Money due from clients 3,700 Motor vehicles (Audi A3) 18,000 Stationery inventory 1,400 Cash at bank 6,500 Bank loan (repayable 20X9) 70,000 Bank loan (repayable 20X4) Accounts payable Capital introduced Profit for the year Income tax owing 4,600 1,100 5,600 27,800 1,300 146,400 146,400
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Deepak Pal
Hi there! Are you looking for a committed, reliable, and enthusiastic tutor? Well, teaching and learning are more of a second nature to me, having been raised by parents who are both teachers. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students. Areas of interest: Business, accounting, Project management, sociology, technology, computers, English, linguistics, media, philosophy, political science, statistics, data science, Excel, psychology, art, history, health education, gender studies, cultural studies, ethics, religion. I am also decent with math(s) & Programming. If you have a project you think I can take on, please feel welcome to invite me, and I'm going to check it out!
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
In this lab, we will look at how the pressure of a fluid varies with depth, density, and gravity. The simulation for this lab can be found at
-
It is October 2013 and you have just been employed as the accounting technician for A to Z Vehicle Hire and will be based at their head office in Northfield. As one of your first tasks, the partners...
-
uestion: 1. IN A STOCK ACQUISITION ACCOUNTED FOR BY THE EQUITY METHOD, A PORTION OF THE PURCHASE PRICE OFTEN IS ATTRIBUTABLE TO GOODWILL OR TO SPECIFIC ASSETS OR LIABILITIES. HOW OR UNDER WHAT BASIS...
-
Jake needed a summer job and was lucky enough to land a position as a ticket collector at a local amusement park. On his first day, he was assigned to work alongside Tim who had worked at the park...
-
Assume that you own a diversified portfolio of 50 stocks and fear a market decline over the next 6 months. a. How could you protect your portfolio during this period using stock-index options? b. How...
-
If you were going to work in a hotel, what type of property would be of most interest to you as a potential employee? Why? LO1
-
Raw materials inventory transactions. Transactions related to raw materials inventory for a particular company over a four-year period appear below:(Appendix) Year 2 Year 3 Year 4 Year 5 Raw...
-
The 2014 data that follow pertain to Ricks Radical Eyewear, a manufacturer of swimming goggles. (Ricks Radical Eyewear had no beginning Finished Goods Inventory in January 2014.) Number of goggles...
-
Thecapital asset pricing model, or CAPM, is used to price an individual security or portfolio. The general idea behind CAPM is that investors should be compensated in two ways, for the time value of...
-
The accountant of Cubert Ltd produced the following trial balance as at 31 October 20X5: You are required to produce a statement of financial position for Cubert Ltd as at 31 October 20X5. Freehold...
-
David prepared the following trial balance from his accounting records for his carpentry business on 31 March 20X1. You are required to prepare a statement of financial position as at that date....
-
Arjun died on April 3, Year 4 with a gross estate of \($11,500,000.\) In his will, he left his personal residence to his grandson. Arjun had originally purchased the home for \($172,000.\) Fair...
-
At year-end 2014, total assets for Ambrose Inc. were $1.6 million and accounts payable were $345,000. Sales, which in 2014 were $2.3 million, are expected to increase by 20% in 2015. Total assets and...
-
During the month, 6,500 kg of raw materials were purchased at shs.3.80 per kilo and all of it was used to produce 2000 units of finished products.Also, 4,500 hours of direct labour time were used at...
-
Suppose that we would like to design a Multi-layer Perceptron MLP network to detect all points in the shaded area shown below, the number of perceptrons needed to achieve 100% accuracy is: (Hint:...
-
How does the price of your medium cup of coffee with other businesses (cafes) in the market? What can you learn through this comparison? My price is much higher My price is slightly higher My price...
-
Suppose there was another Cart (2) that was identical in size and mass to Cart 1. At the same moment shown above, Cart 2 is alongside Cart 1 and is moving at the same speed as Cart 1. . 2 What single...
-
When a particular wire is vibrating with a frequency of 4.00 Hz, a transverse wave of wavelength 60.0 cm is produced. Determine the speed of waves along the wire.
-
In 1995 Miguel purchased a home for $130,000. In 2000 he sold it for $170,000 and immediately purchased another one for $180,000, which he sold in 2007 for $235,000. How much taxable capital gain, if...
-
Find the most general antiderivative of the function. (Check your answer by differentiation. Use C for the constant of the antiderivative.) (x) = 5x" - 3x + 4 X>0 F(X)= x 5. [-/1 Points] DETAILS...
-
The citizens of France, Belgium, and Finland are upset by a recent trade law enacted in the European Union which they feel negatively impacts their respective economies. In order to resolve their...
-
Development Economics What are the four strategic themes of traditional development economics? How does A.K. Sen employ them to argue that "the time to bury traditional DE has not yet arrived
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App