Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ASSETS LIABILITIE OWNERS EQUITY S Bank Inventory A/cs Office Supp A/cs Pay Capital Income Expenses Rec 30,000 30,000 (2,000) (2,000 (500) 500 (25,000 25,000 4,000

image text in transcribed
image text in transcribed
ASSETS LIABILITIE OWNERS EQUITY S Bank Inventory A/cs Office Supp A/cs Pay Capital Income Expenses Rec 30,000 30,000 (2,000) (2,000 (500) 500 (25,000 25,000 4,000 (2,500) 4,000 (2,500) (10,000) 14,000 14,000 (10,000) (580) (580) 2,640 OSE'T) (1,350) 2,640 (2,000) (2,000) 7,800 7,800 TOTALS 6,560 18,950 14,000 500 7,800 28,000 20,640 (16,430) ASSETS 40,010 LIABILITIE 7,800 EQUITY 32,210 C 3. The following information is a list of accounting balances as at 30 June 2014 to calculate questions a - g. Please note the date change for interest payable to 31/7/2014 and loan payable to 30/06/2016 $000 $000 Accounts Payable 9,540 Accounts Receivable 21,250 Accumulated depreciation - Property, plant 45,500 & equipment Cash at bank 31, 170 Cost of goods sold 48,760 Depreciation expense- Property, plant & 14,050 equipment

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Debra C Jeter, Paul K Chaney

5th Edition

1118022297, 978-1118022290

More Books

Students also viewed these Accounting questions

Question

2. What do the others in the network want to achieve?

Answered: 1 week ago

Question

1. What do I want to achieve?

Answered: 1 week ago