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1-Aug-13 Started business by investing $20,000 from personal savings into a business' bank account and a car and furniture worth $90,000 and $30,000 respectively. 2-Aug-13 Purchased office furniture from Standards for $3,000 paying by cheque. 4-Aug-13 Purchased goods for resale from Cedric on credit for $1,200. 5-Aug-13 Purchased goods for resale on credit from Dream Roar for $750. 7-Aug-13 Took $3,000 from the bank account for cash use. 8-Aug-13 Cash sales $900. 9-Aug-13 Credit sales to Denni and Manni for $800 and $1,000 respectively. 9-Aug-13 Returned goods to Cedric worth $110. 11-Aug-13 Cash sales $2,000. 11-Aug-13 Purchased goods for resale from Juan Ltd paying by cash $900. 12-Aug-13 Paid fuel expenses $200 by cash. 13-Aug-13 Manni returned goods amounting to $100. 14-Aug-13 Denni paid $350 in cash to his account. 15-Aug-13 Sold goods to G. Sandy for $800 on credit. 16-Aug-13 Purchased goods on credit from Cedric for $900. 18-Aug-13 Paid Dream Roar$500 on their account by cheque. 20-Aug-13 Manni paid $600 on her account by cash. 21-Aug-13 Took cash of $1,000 for personal use. 22-Aug-13 Paid Cedric $1,000 on their account by cheque. 25-Aug-13 Paid electricity expenses of $190 by cash. 26-Aug-13 Paid water expenses of $160 by cash. 27-Aug-13 Paid telephone expenses $200 by cash. 28-Aug-13 Received cash of $500 from G. Sandy 29-Aug-13 Cash Sales of $1,200. Required: a)Record the transactions in the relevant journals b)Post to respective ledger and sub-ledger accounts c)Balance off ledger accounts and extract a Trial Balance
define accounting. Explain the accounting concepts which guide the accountant at the recording stage.
current and non current liabilties
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SCENARIO In May of the current year, your employer received a PIER report from the CRA that identified Canada Pension Plan (CPP) contribution deficiencies for employees in the org
Debenture holder are those who gives long term loan at specific interest rate in term of cas. Creditor gives only short term credit in term of cash for purchasing of goods.
Q. First-in first-out inventory? FIFO (first-in first-out): Ending inventory contains of the most recent purchases. FIFO presumes that the costs of the first goods purchased ar
Explain:- 1. Why would users want to see cash flows broken out into three parts (operating, investing, and financing)? What's the purpose of this structure? 2. Companies often use
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Management accountants may or mayn't be CPAs. If a management accountant passes an examination prepared and graded by the Institute of Certified Management Accountants (ICMA) and m
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