Question 2 On 1 st February 2014 Encik Ketupat bin Palas has set up a grocery...

Question 2
On 1 st February 2014 Encik Ketupat bin Palas has set up a grocery shop in Petaling Jaya. Below are the transactions for the stated month.
February
1 Started business with RM30,000 in the bank.
5 Bought-goods on credit from Tan Boon Wah RM11,500.
9 Bought goods with cheque RM500.
10 Collected RM40,000 cheque for sales made.
11 Sold goods on credit to Ranjit Singh RM900.
12 Paid advertising expenses of RM200 with cheque.
13 Purchased goods on credit from Syarikat Huru Hara for RMI *000.
14 Bought a motorcycle RM5,500 on credit from Kedai Motor Razman.
15 Encik Ketupat withdrew RM500 cash from bank for office use.
20 Received invoice from Syarikat Abdul Latiff for goods valued at RM4,000. Less 10% trade discount.
21 Returned some goods to Syarikat Huru Hara for RMI 50.
22 Invoiced Kedai Siti Rahmah for goods valued at RM6,000. Less 20% trade discount.
25 Goods returned by Kedai Siti Rahmah for RM350.
27 Returned defective goods to Syarikat Abdul Latiff worth RMI 00.
From the above information, you are required to:
Record the transactions into appropriate journals.

Expert Solution

ekkarill92 answered 2 years ago

Question 4 On 1 st March 2014, Azizah started a business. Azizah Trading had the following...

Question 4 On 1 st March 2014, Azizah started a business. Azizah Trading had the following balances: Cash at bank RM31500 Fixtures and fittings RM600 Cash in hand RMI ,000 Freehold land and building RM45,000 Inventory RMIO,OOO Loan from North Finance RM30,000 (5-year loan) Machinery RM25,000 Accounts payables RM12,000 From the above information, determine Azizah Trading's capital. Answer question 4 (a) Compare between liabilities and owner's equity. Answer question 4 (b). Complete the table. Liabilities Owner's equity Differentiate between accrued...

3. [12 marks] Suppose a busy grocery store has several sampling booths set up for the...

3. [12 marks] Suppose a busy grocery store has several sampling booths set up for the same product. After a customer samples the product, they are asked if they are less likely, just as likely, or more likely to buy a competitor’s product. The results are provided below. For the purposes of this exam, you may assume that each customer is independent. Less likely Just as likely More likely 50 45 55 You are the data analyst in charge of...

Question 1 Have you set-up any unique EARCONS on your phone? Question 2 Do you think...

Question 1 Have you set-up any unique EARCONS on your phone? Question 2 Do you think mobile phone should have a different sound to the caller if your phone is busy? Question 3 Would you like to set-up your phone some that if persons A, B, or C (your favorite people) call you and you're on your phone would you like them to hear something other than "beep ... beep .... beep" (means your phone is busy)? Question 4 Would...

Monsanto Rounds Up $80 Million in Accounting Violations ST. LOUIS (FEBRUARY 9, 2016) BY MICHAEL COHN,...

Monsanto Rounds Up $80 Million in Accounting Violations ST. LOUIS (FEBRUARY 9, 2016) BY MICHAEL COHN, Accounting today The Securities and Exchange Commission said Tuesday that St. Louis-based agribusiness Monsanto Company has agreed to pay an $80 million penalty ….. to settle charges that it violated accounting rules and misstated company earnings pertaining to its flagship product Roundup. An SEC investigation found Monsanto had insufficient internal accounting controls to properly account for millions of dollars in rebates offered to retailers...

Question 1 Clean-It-Up manufactures industrial dryers and washers. The following information is available for February: Dryers...

Question 1 Clean-It-Up manufactures industrial dryers and washers. The following information is available for February: Dryers Washers Budgeted units sold 10,000 40,000 Actual sales (in units) 8,820 33,180 Actual selling price per unit $700 $900 Budgeted selling price per unit $710 $930 Budgeted market share 20% 25% Actual market share 25% 24% Budget cont. margin /unit $275 $375 REQUIRED: Determine the sales-mix and sales-quantity variances. Determine the market-share and market-size variances. Discuss the potential causes of variance.

QUESTION 2 If you set up your initial review of the literature using the Matrix Method,...

QUESTION 2 If you set up your initial review of the literature using the Matrix Method, you already have a start on the Matrix Indexing System. However, the indexing system differs from the Matrix Method. The Matrix Method is a strategy for acquiring, analyzing, and writing a synthesis of a review of the scientific literature. In contrast, the Matrix Indexing System provides a way of coping with all the information and documents that you use or create as a result...

Question 2 (6 marks) Part a) Calculate the statistic, set up the rejection region, interpret the...

Question 2 Part a) Calculate the statistic, set up the rejection region, interpret the result, and draw the sampling distribution. i) ii) Part b) H0: H1: Given that: σ=10, n=100, H0: H1: Given that: σ=15, n=100, μ=10 μ≠10 X =10, α=0.05. μ=50 μ<50 X =48, α=0.05. A statistics practitioner is in the process of testing to determine whether is enough evidence to infer that the population mean is different from 180. She calculated the mean and standard deviation of a...

Question 2: Partnerships In 2008, Dan Baxter and Philip Jones set up a partnership to trade...

Question 2: Partnerships In 2008, Dan Baxter and Philip Jones set up a partnership to trade as organic greengrocers under the name Baxter and Co. They frequently purchase organic produce from Yvonne Botica, an elderly farmer. Orders are usually made on the firm’s letterhead, which has the words ‘ D Baxter and P Jones, trading as Baxter & Co’ printed in small type at the bottom. On 31 August 2017, Philip retires from the partnership and ceases working in the...

Question 1 A company borrowed $ 74,500. The company plans to set up a sinking fund...

Question 1 A company borrowed $ 74,500. The company plans to set up a sinking fund that will pay back the loan at the end of 6 years. Assuming a rate of 6% compounded semiannually, find the Sinking Fund of the ordinary annuity. An employee decided to invest $ 1,960 quarterly for eight years in an ordinary annuity at 20%. What is the total cash value of the annuity at end of year 8? What must YOU...

Question 1- The sales team How to design, set up and manage a sales team, this...

Question 1- The sales team How to design, set up and manage a sales team, this is one of our greatest missions as a sales manager. Therefore, please explain: 1) How to design a sales team; 2) What type of indicators to use when evaluating their performance? 3) The alignment of the sales team with the organization.

Question