Answer:
Capital Expenditure during the year 40,706
Explanation:
opening assets = 218470
less: Depriciation for the year = (42822)
less: Disposal of assets = (6943)
less: Closin Assets = (209411)
Balancing figure additions = 40706
A list of accounts and balances before adjustments are recorded is known as a(n) Unadjusted trial balance.
What is accounts?
The entry of a transaction in a financial statement is referred to as a “accounts.” The account has been updated to reflect the debit and credit transactions. Assets, liabilities, revenue, equity, and expenses are all types of financial activity.
The unadjusted before trial balance as the adjustment of the record in the accounts. The trial balance as the entry in the double-entry account book, as the indicating the errors of the accounting.
As a result, the unadjusted trial balance, list of accounts and balances before adjustments are recorded.
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Answer:
The amount of cash received from this sale on July 24 is $1940.
Explanation:
The sell of merchandise on July 15 will result in an increase in sales revenue of $3800 and accounts receivables of $3800. The entry would be,
July 15 Accounts receivable $3800 Dr
Sales revenue $3800 Cr
The sales return of $1800 will reduce the amount of accounts receivables. The amount of accounts receivables outstanding and eligible to receive payment from will be (3800 - 1800) = $2000
The accounts receivables are offered a 3% discount if they pay within the 10 days of sale. On July 24, the payment is received within discount period and the discount allowed will be,
Discount allowed = 2000 * 0.03 = $60
The cash received will be $2000 - $60 = $1940
Answer:
The corporation's current earnings and profits for 20X3 would be $603,000
Explanation:
The computation of the current earnings and profits are shown below:
= Taxable income - federal income taxes - disallowed penalty + insurance proceeds
= $800,000 - $272,000 - $25,000 + $100,000
= $603,000
The federal income tax refund would not be considered in the computation part. Hence, it is ignored.
