Prepare the journal entries
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Q: Prepare the post closing Trial Balance as of April 30, 2021
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Q: Journalize 2021 transactions. Then, prepare ins financial statements.
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A:
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A: Question does not specify which method to follow for solving the question. There are two methods to…
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A: Closing entries are those entries which are passed at the end of the period in order to close all…
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A: Step 1 Journal is the Part of Book Keeping.
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A: Balance sheet: One of the financial statements that records the assets, liabilities and the owner’s…
Q: 1. Prepare the trial balance as of 30 June 2019.
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Q: Prepare the journal entries in the records of Brad Ltd at 1 July 2019
A: Journal entries are those entries which are recorded at the time of transaction take place the same…
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A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…
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A: As per the honor code, we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…
Q: Journal Entry In the attached question, kindly help in clarifying is it is necessary to create…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
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A: Given in the question: Franchise Contract Date March 1, 2019 Non-Refundable…
Q: Required: Prepare a 10-column worksheet for the year ended 30 June 2019.
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A: Journal entry:- Journal entries means writing a business transaction in a better way to understand…
Q: Prepare journal entries to reooed the transactions using the mora Bum method and presen the…
A: Journal entry is entry which is made at the time of transaction, however in order to record the…
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Q: prepare a classified balance sheet for year ended november 30 2020
A: A balance sheet is a statement which shows how much assets and liabilities of a company are having…
Q: Requirement: Give the journal entries for the foregoing transactions.
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Q: Use the information to prepare adjusting entries as of December 31, 2019.
A: The formula:
Q: Please prepare the adjusting entries for December 31,2020. Answer b-d
A: Adjusting entries are those entries which are passed at the end of the period in order to accurately…
Q: Prepare journal entries to record the transactions for the current year.
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Q: The trial balance columns of the worksheet for Marigold at March 31, 2019, are as follows.
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A: The question is based on the concept of Financial Accounting.
Q: Write a brief report about the accruals and deferrals of Amazon’s 2018 annual report.
A: Accrual - The process of recording transactions w.r.t Income or Expenses to the accounting period to…
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A: Cash Date Explanation LR Debit Credit Balance 05-Jul Lea Invested Cash 120000 120000…
Q: Prepare a worksheet as of December 31, 2020
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A: Solution:- Journal entries in the books of Manrow Growers during the year 2019 as follows:-
Q: instruction: Prepare a necessary entry at Dec. 31, 2022, if any.
A: Step 1 Journal is the part of book keeping.
Q: Prepare all the necessary journal entries related to the machine from 30 June 2019 to 30 June 2021.
A: For the Period ending 30th June 2019, Particulars Dr/Cr Amount($) (1) Machinery Account Dr…
Q: Required: For ABC Co: Prepare the necessary journal entry(ies) on September 30, 2016. SHARE
A: No necessary journal entries made on September 30, 2016 Because no transaction were made on the same…
Q: Prepare journal entries for 2019.
A: Journal is the primary book of accounts where transactions are originally recorded. Further, a…
Q: Prepare the Adjusted Trial balance for the period ending June 30, 2020
A: Depreciation - Furniture and Fixtures = 800,000-160,00010…
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Q: Required: Prepare the journal entries on December 31, 2016, May 11, 2017 and June 12, 2017.
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
REQUIRED:
(a) Prepare the
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- The directors of Ribs Co, a listed company, are reviewing the company’s current strategic position. The firm makes high quality garden tools which it sells in its domestic market but not abroad. Over the last few years, the share price has risen significantly as a firm has expanded organically within its domestic market. Unfortunately, in the last 12 months, the influx of cheaper, foreign tools has adversely impacted the firm’s profitability. Consequently, the share price has dropped sharply in recent weeks and the shareholders expressed their displeasure at the recent AGM. The directors are evaluating two alternative investment projects which they hope will arrest the decline in profitability. Project 1: This would involve closing the firm’s domestic factory and switching production to a foreign country where labor rates are a quarter of those in the domestic market. Sales would continue to be targeted exclusively at the domestic market. Project 2: This would involve a new investment…Recently, Gardenia Philippines Reported an increase of 35% in bread sales in Quarter 2 of 2020. How has this possible given the pandemic situation we are experiencing? What do you think makes gardenia's brand successful among its rivals despite the pandemic? What unique characteristics have you observed in their operations? Can a well-planned and well-managed operations and supply chain help build a competitive advantage? Explain your answers comprehensively.Fountain Corporation’s economists estimate that a good business environment and a bad business environment are equally likely for the coming year. The managers of the company must choose between two mutually exclusive projects. Assume that the project the company chooses will be the firm’s only activity and that the firm will close one year from today. The company is obligated to make a $4,100 payment to bondholders at the end of the year. The projects have the same systematic risk but different volatilities. Consider the following information pertaining to the two projects: Economy Probability Low-Volatility Project Payoff High-Volatility Project Payoff Bad .50 $ 4,100 $ 3,500 Good .50 4,600 5,200 a. What is the expected value of the company if the low-volatility project is undertaken? The high-volatility project? (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) b. What is the expected value of the…
- Fountain Corporation’s economists estimate that a good business environment and a bad business environment are equally likely for the coming year. The managers of the company must choose between two mutually exclusive projects. Assume that the project the company chooses will be the firm’s only activity and that the firm will close one year from today. The company is obligated to make a $4,200 payment to bondholders at the end of the year. The projects have the same systematic risk but different volatilities. Consider the following information pertaining to the two projects: Economy Probability Low-Volatility Project Payoff High-Volatility Project Payoff Bad .50 $ 4,200 $ 3,400 Good .50 4,600 4,900 a. What is the expected value of the company if the low-volatility project is undertaken? What if the high-volatility project is undertaken? (Do not round intermediate calculations.) b. What is the expected value of the company’s equity if the low-volatility…Zynex Co manufactures a range of electronic devices, which it sells to online stores and retail outlets. It has a risk-seeking attitude and its objective is to maximise profit. Six months ago it released a new version of its smartphone, the ZV. Zynex Co's main smartphone competitor has announced that it will launch a new version of its smartphone in one month's time and Zynex Co is concerned about the effect of the launch of this rival product on future demand for the ZV. For each of the previous ten smartphones launched by its competitors, Zynex Co's marketing team has analysed the impact on Zynex Co's sales performance. This data was retained specifically for the purpose of forecasting future demand of Zynex Co's smartphones and is stored in the company's financial database. Based on this analysis, the marketing team has identified three possible outcomes for the impact on the demand of the ZV: a small decrease, a medium decrease and a large decrease. Production volumes for the ZV…Khan Ltd is an importer of novelty products. The directors are considering whether to introduce a new product, expected to have a very short economic life. Two alternative methods of promoting the new product are available, details of which are as follows: Alternative 1 would involve heavy initial advertising and the employment of a large number of agents. The directors expect that an immediate cash outflow of £100,000 would be required (the cost of advertising) which would produce a net cash inflow in year one of £70,000 and £63,000 in year two. Alternative 2 would involve a lower outlay on advertising (£50,000, payable immediately), and no use of agents. It would produce net cash inflows of zero after one year and £42,000 at the end of each of the subsequent two years. Mr Court, a director of Khan Ltd, comments, “I generally favour the payback method for choosing between investment alternatives such as these. However, I am worried that the advertising expenditure under the second…
- Athif trading company is a popular distributor in Salala, having operations in the entire Oman. Over these years, the company has gained a very good public opinion and quiet a big number of loyal customers. During the last year, the company has faced some financial struggles due to the pandemic- crisis. The company has decided to plan well for the current year based on the past performance so that the company will be able to regain its status. The management of the company has given with you the Income statement for the last year and asked you to calculate the gross profit and net profit margin Particular OMR Particular OMR Opening Stock Purchases Carriage and Freight Wages Gross Profit b/d 76250 By Sales 3,15 250 2,000 5,000 2,50,000 6,48,500 1,01,000 By Gross Profit b/d 12,000 "Non-operating incomes: 2,000 7,000 "Divde nd on shares 134,000 2,56,000 To 5,50,000 Closing stock 98,500 6,48,500 2,50,000 To Administra tion expenses " Selling and Dist. expenses "Non-operating expenses "…Athif trading company is a popular distributor in Salala, having operations in the entire Oman. Over these years, the company has gained a very good public opinion and quiet a big number of loyal customers. During the last year, the company has faced some financial struggles due to the pandemic – crisis. The company has decided to plan well for the current year based on the past performance so that the company will be able to regain its status. The management of the company has given with you the Income statement for the last year and asked you to calculate the gross profit and net profit margin Opening Stock Purchases Carriage and Freight Wages Gross Profit b/d 76,250 By Sales 3,15 250 2,000 5,000 2,50,000 То 5,50.000 Closing stock 98,500 6,48,500 2,50,000 6,48,500 Administration expenses "Selling and Dist. expenses *Non-operating expenses Financial Expenses Net Profit c/d 101,000 By Gross Profit b/d 12,000 2,000 "Interest on Securities 7,000 134,000 "Profit on sale of shares 2,56,000…Alif trading company is a popular distributor in Salala, having operations in the entire Oman. Over these years, the company has gained a very good public opinion and quiet a big number of loyal customers. During the last year, the company has faced some financial struggles due to the pandemic - crisis. The company has decided to plan well for the current year based on the past performance so that the company will be able to regain its status. The management of the company has given with you the Income statement for the last year and asked you to calculate the gross profit and net profit margin. Partkula OMR OM Particular Sales AI520 Clesitoc 2000 5000 100000 To Ovening Stock Torchases Karnage d Wags JGrom Proft bd 600.000 To LOL00 Gross Profie bd 120o0 " 2000 teret on Securities 70o0Dvdend on shares I4 Do Prot ensae of sares 3,0.0 Tramstrationegeres 300000 Nonoperating incomes Selling and Dist egese Nonoperatingegeses FFirancial Espenes Net Proft c/ 1500 1750 750 Choose the Gross…
- Eastern Auto Supply Limited produces and distributes auto supplies. The company is anxious to enter the rapidly growing market for long-life batteries that is based on lithium technology. Management believes that to be full competitive the new battery that the company is planning can’t be priced at more than Tk. 130. At this price management is confident that the company can sell 100,000 batteries per year. The batteries would require an investment of Tk. 5,000,000 and the desired ROI is 20%. Required: Compute the target cost of one battery.Maximus Steel plans to introduce one of three new products code-named: Wren, Hawk, and Nightingale. The marketing department indicated that the success of any product depends on the market conditions (Favorable, Neutral, or Unfavorable). The profit the company will earn also depends on the market conditions. The table below shows the probability estimated for each market condition and the profits Maximus Steel will realize within those conditions: Product Code Market Conditions Favorable P = 0.2 Neutral P = 0.7 Unfavorable P = 0.1 Wren $120,000 $70,000 ($30,000) Hawk $60,000 $40,000 $20,000 Nightingale $35,000 $30,000 $30,000 Part 1 Instructions: Compute the expected value for each alternative. What is the best option for the company?Ameen trading company is a popular distributor in the Nizwa region having years of experience in the field of logistics and marketing. Over these years, the company has gained a very good public opinion and quiet a big number of loyal customers. During the last year, the company has faced some financial struggles due to the pandemic – crisis. The company has decided to plan well for the current year based on the past performance so that the company will be able to regain its status. The management of the company has given with you the Income statement for the last year and asked you to calculate the gross profit and net profit margin. Particular OMR Particular OMR Opening Stock Purchases Carriage and Freight Wages Gross Profit b/d To 76,250 By Sales 3,15,250 "Closing stock 2,000 5,000 2,00,000 5,98,500 1,01,000 By Gross Profit b/d 12,000 "Non-operating incomes: 2,000 " Interest on Securities 7,000 " Dividend on shares 84,000 " Profit on sale of shares 2,06,000 5,00,000 98,500 5,98,500…