Moving to another question will save this response Question 15 Everest Furniture Trading inc. has provided you with the following transactions for one year. You are required to prepare adjusting entries for the year ending 2015 Rent of AED 180,000 was paid for three years on June 1, 2019 Beginning balance of office supplies was AED 12.800. The year end count showed that office supplies worth AED 1 were on hand c. Salaries accrued but not paid to employees as of December 31 amounted to AED 14,000 d The company borrowed money on a note payable on August 1, 2019 for AED 70,000 and interest is charged at a rate of per year interest has not been paid yet The company purchased an equipment for AED 120,000 on July 1, 2019. The equipment will be depreciated 15.000 every year for 4 years. You should copy (Ceri-cand paste (Ctrl-v) the template below into your answer space and complete with the necessary information a b e MacBook Air 80 F3 888 FA F2 & $ 4 # 3 % 5 7 6 2 Moving to another question will save this response Question 14 Tariq Saleh started Arabic Grills Garden, a restaurant in Sharjah in March 2020 by investing OHS 75.000 cash. The following are the way. expenses for the month Name of Account AED Name of Account Accounts payable AED 15.000 Note receivable 7700 Cash 9,500 Equipment 55.200 2 years note payable 20.000 Prepaid salaries 8,000 Office Supplies 16,300 Salary and wage expense 15.000 Rent expense 18,300 Unearned revenue 10,000 Hotel revenue 43,000 Owner withdrawal 3.500 Required: Prepare a trial balance for the company as at that date using the template provided. (copy & paste the template into the answer area and complete it with the necessary information) MacBook Air BO 888 F Moving to another question with Question 13 Ms. Latifa started her own nutron consultancy called Drenthe chart onts for them Latifa, capital Office equipment Cash Note payable Latifa, withdrawal Accounts receivable Consultancy fees earned Prepaid rent Required: Using the template provided below you should copy (Ctrl-c) and paste (Ctrl ) it into your answer area), prepare journal entries to record the transactions en b. Jan. 1 Latifa invested cash AED 250,000 and equipment of AED 10,000 to start the clinic 2 Purchased medical equipment for AED 25,600. Paid cash AED 15,000 and gave note payable for the remaining amount 8 Paid 12 months rent of AED 80.000 for the clinic 10 Provided nutrition advise to ABC Company managers, AED 15,825 on account 18 Received payment in full from ABC Company for the service provided on January 10th 20 Paid the balance due on note payable in transaction (2) 27 Latifa withdrew AED 12,600 cash from the clinic for personal use MacBook Air 80 Moving to another question will save this response Question 12 Acuity Match each of the following items to their correct account type (assets, abilities, or equity prepaid expense Mohammad capital 6 month note payable equipment 5 year bank loan B. liability c.asset A Moving to another question will save this response. MacBook Air 888 BO F3 F2 > % @ # Moving to another question will save this response. Question 11 Identify the following users of accounting information of a company as either External or internal Senior Manager, HR ... Central Bank of UAE A External B internal Budget analyst Sales staff Shareholders Moving to another question will save this response. MacBook Air 888 esc BO F3 F2 # 3 $ 4 % 5 2 Moving to another question will save this response Question 10 Balance sheet of an organization is prepared on a particular date to present A net cash flows B. excess of income over expenses Cassets, liabilities, and equity D. changes in equity over a period of time Moving to another question will save this response. MacBook Air 30 988 OSC F2 F3 $ % ! # 3 5 4. 2 1 Moving to another question will save this response. Question 9 Le Meridian Hotel and Resorts purchased a new building in Al Ain for AED 5 million. Le Meridian must classify the begin to the A. Current Liabilities B. Current Assets C. long term Liabilities D. fixed Assets Moving to another question will save this response. MacBook Air DO 80 F3 FI % # $ 4 5 Moving to another question will save this response Question 8 Salama Home Inc. completed consultancy services for a customer and immediately collected AED 5,000. The revenue EDS should be recen A. owner equity statement B. balance sheet C. income statement D. cash flow statement Moving to another question will save this response. MacBook Air 80 FS 888 F4 FI ! $ 4 # 3 % 5 7. 1 2 Moving to another question will save this response. Question 7 The two account types that apply to matching principle under GAAP are A asset and liability B. revenue and expense C. owner equity and net income D. capital and withdrawal A Moving to another question will save this response, MacBook Air esc BO F3 888 FA F1 F2 # 3 $ 4 % 5 1 2 w F R Question Completion Status Moving to another question with response Question 6 Gems Tutorials provided services to Fatma in January for AED SOO but received the termotromary A monetary unit assumption B. going-concern assumption C. revenue recognition principle D. business entity assumption Moving to another question will save this response. MacBook Air ! $ 4 % 5 3 2 7 T R E w I G F D
