The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2

0 Answers  

---

WHAT IS FORM 'H".AND WE CAN USE THAT FROM 'H'

2 Answers  

---

Capital secure should be shown in which side of the balance sheet?

0 Answers   ICAI,

---

What do you debit and credit if discount allowed is underrated?

0 Answers  

---

what is the difference between shares and debentures

1 Answers   ADP,

---

how to prost entry for purchases with a bill

0 Answers  

---

what is sox?

4 Answers   Accenture,

---

How many type of Invoices?

10 Answers   Deloitte,

---

how much cash transaction to single transport company per day and also per year

0 Answers  

---

Tell one entry that should be personal account,real account,nominal account..

5 Answers   Genpact,

---

what is ledger balance

3 Answers  

---

how to show provident fun in balance sheet

4 Answers   Genpact, WBCS West Bengal Civil Service,

---