New

Connect on Whatsapp : +97143393999 , Uninterrupted Access, 24x7 Availability, 100% Confidential. Connect Now

Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
loader
Add File

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!

BZ102 Accounting Principles

tag 0 Download 2 Pages / 354 Words tag 03-11-2020

Question:

Information below is provided for a retail business which sells household appliances and electrical goods. 

Required

  1. Prepare General Journal entries for the balance day adjustments as at 30th June, in the current year. 
  1. Separately show your workings or provide an explanation of your reasoning for each of the transactions. 
  1. The business received its electricity bill on 29 June, for $823. This covered usage of electricity from 20 March to 20 June. The bill was filed and will be paid by the due date of 10 July.  
  1. The business paid $1 260 on 1 September last year for twelve months’ car insurance. At the time of the transaction, Insurance Expense was debited and Cash at Bank credited, for $1 260. 
  1. Employees are paid every Monday morning for the previous five day working week. $1,200 of wages was paid on Monday 2nd
  1. A customer paid a deposit of $400 on 29 June, for a three-month service contract commencing 1 July. On 29 June, the accountant recorded a debit to Cash at Bank of $400 and a credit of $400 to Service Fees Revenue account. 
  1. The business met their sales goal of 100 Phillips brand televisions sold for June. They expect to receive commission revenue of $550 from Phillips in the last week of July.
Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Upload
Unique Document

Document
Under Evaluation

Get Money
into Your Wallet

Total 2 pages

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2020). Accounting Principles. Retrieved from https://myassignmenthelp.com/free-samples/bz102-accounting-principles/prepaid-ledger.html.

My Assignment Help (2020) Accounting Principles [Online]. Available from: https://myassignmenthelp.com/free-samples/bz102-accounting-principles/prepaid-ledger.html
[Accessed 17 August 2022].

My Assignment Help. 'Accounting Principles' (My Assignment Help, 2020) <https://myassignmenthelp.com/free-samples/bz102-accounting-principles/prepaid-ledger.html> accessed 17 August 2022.

My Assignment Help. Accounting Principles [Internet]. My Assignment Help. 2020 [cited 17 August 2022]. Available from: https://myassignmenthelp.com/free-samples/bz102-accounting-principles/prepaid-ledger.html.


We Can Help!

Get top notch assistance from our best tutors !
Excel in your academics & career in one easy click!

icon

Other Samples

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the content removal request.

icon

5% Cashback

On APP - grab it while it lasts!

Download app now (or) Scan the QR code

*Offer eligible for first 3 orders ordered through app!

screener
ribbon
callback request mobile
Have any Query?