Based on the information given, calculate the amount of credit purchases for the year ended 30 June 2020.

Based on information given, compute the amount of Non-current liabilities as at 30 September 2020.

Using the information given, compute the net profit/net loss for the year ended 31 December 2020.

Using the information given, compute the amount of credit sales for the year 2020.

Based on the information given, calculate the amount of purchases for the year 2020.

Based on the information given, compute the amount of rental revenue for the year ended 31 December 2020.

Based on the information given, calculate the net profit / net loss for the year ended 31 March 2020.

Jelitasara Sdn Bhd received cash RM15,225 for November sales, these amount was including sales tax 5%. Determine the correct amount that will be credited to sales accounts.

MasWings Airlines Bhd issued RM900,000, 8% 10 year bonds on January 1, 2020 at face value. Interest is payable annually on January 1. Select the suitable journal entry to record interest for the year ended 31 December 2020.

The Coldon Company issued RM300,000 of 10% bonds on January 1, 2019. The bonds are due January 1, 2024, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Coldon's journal entries for issuance of bonds

Janna Nick's Donut Ent. borrowed RM200,000 on January 1, 2019, and signed a two-year note

bearing interest at 12%. Interest is payable in full at maturity on January 1, 2021. In

connection with this note, Janna's should report interest expense at December 31, 2019, in the

amount of:

Assume that the company is using periodic inventory system and Weighted Average method, what is the ending inventory costs?

What is the cost of goods sold if the periodic inventory system and FIFO method is used ?

Assuming the periodic inventory system and FIFO method is used, what is the gross profit?

What is the ending inventory in units as at 31 October 2020?

Assuming that the company will updated the inventory every time there is a movement in their inventory, calculate the ending inventory cost as at 11 October 2020, using FIFO method?

Assuming that the company will updated the inventory every time there is a movement in their inventory, calculate the ending inventory cost as at 26 October 2020, using FIFO method?

The cost of equipment is RM23,000 and is expected to have a residual value of RM3,000 after 10 years. Using the straight line method, what is the depreciation expenses each year?

A machine was purchased at the cost of RM50,000 on 1 September 2019, residual value RM2,000 and was depreciated at 12% per annum using monthly basis. What is the accumulated depreciation for the year ended 31 December 2020, if the company is using reducing balance method.

A new machine costs RM45,000 and has accumulated depreciation of RM44,000. The company disposed these machine and receives nothing. What is the result of the disposal transaction?

A truck costs RM50,000 and has accumulated depreciation of RM35,000. Wilson Trading exchanges the truck for a new truck. The new truck has a market value of RM60,000 and Wilson pays RM40,000 cash. Assume the exchange has commercial substance. What is the result of this exchange?

A company purchased land for RM90,000 cash. Real estate brokers' commission was RM5,000 and RM7,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the historical cost principle, the cost of land would be recorded at..

Equipment was purchased for RM300,000. Freight charges amounted to RM14,000 and there was a cost of RM40,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a RM60,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be..

Manju Company has decided to sell one of its old machines on June 30, 2017. The machine was purchased for RM200,000 on January 1, 2013, and was depreciated on a straight-line basis for 10 years with no salvage value under yearly basis. If the machine was sold for RM65,000, what was the amount of the gain or loss recorded at the time of the sale?

Accounts Receivables :

2019 : RM2800;

2020 : RM3100

Allowance for doubtful debts :

2019 : RM280

2020: RM310

What is Net Realizable value for Accounts Receivables should appear in the Statement of Financial Position for 2020?

Accounts Receivables :

Year 1 : RM10,000

Year 2: RM12,000

Allowance for doubtful debts is 5% of Accounts Receivables.

What is the amount of the bad debts expenses to be charged in the Profit and Loss account for the second year?

A company estimates that $20,000 of its $500,000 of account receivable will be uncollectible. Its Allowance for Doubtful Accounts presently has a credit balance of $8,000. The adjusting entry will include a _____________ to the Allowance for Doubtful Accounts.

Using the percentage-of-receivables basis, the uncollectible accounts is estimated to be $33,000. If the balance for the Allowance for Doubtful Accounts is a $5,000 debit before adjustment, what is the amount of bad debt expense for the period?