💰 accounting

1. **Problem Statement:** Wright Transport sold buses and received a note payable of 530000 due in 3 years with an 8% effective interest rate. We need to find the sales revenue rec

1. **Stating the problem:** We need to understand how the value of 27,995 appeared on the debit side of the bank account under "Capital a/c A". 2. **Context:** The bank account sho

1. **QUESTION ONE: Prepare Manufacturing, Trading, Profit and Loss Account and Balance Sheet for AZ Limited** **Problem:** Given trial balance and additional information, prepare t

1. **Problem Statement:** Calculate the closing inventory for Masterly Enterprises for March 2024 using the FIFO (First In, First Out) inventory method.

1. **Problem Statement:** Prepare the Manufacturing, Trading, Profit and Loss Account for the year ended 31 October 1999 and the Balance Sheet as at 31 October 1999 for AZ Limited

1. **Problem Statement:** We are given financial records for Muungano Rugby Club for the year ended 31st Dec 2024. We need to prepare:

1. **Problem Statement:** We need to adjust the cash book and prepare the bank reconciliation statement for Omariba Enterprises for September 2025. Additionally, we must write up t

1. **Problem Statement:** Prepare the income statement for the period ended 30.06.2020 and a comprehensive statement of financial position as at 30.06.2020 for CORD Ltd using the g

1. **Problem Statement:** Prepare the income statement for the period ended 30.06.2020 and the statement of financial position as at 30.06.2020 for CORD Ltd using the provided bala

1. **Problem Statement:** Prepare the income statement for the period ended 30.06.2020 and the statement of financial position as at 30.06.2020 for CORD Ltd using the given balance

1. **Problem Statement:** We are given an income statement for Safari Manufacturing Ltd. for the year ended 30 September 2024 and expected changes for the next year. We need to:

1. **State the problem:** We have two ventures, A and B, involved in a joint business. We need to prepare the joint venture account based on the given transactions and sharing rati

1. A joint venture account is created when two or more parties agree to collaborate on a specific business project or venture. 2. Each party contributes assets, resources, or capit

1. **State the problem:** We have two ventures, A and B, involved in a joint business. We need to prepare the Joint Venture Account based on the given transactions and sharing rati

1. **Problem Statement:** Prepare a cash flow statement for Phinix Ltd for the year ended 31st December 2024 using the provided financial information. 2. **Step 1: Calculate Operat

1. **Stating the problem:** Prepare the manufacturing, trading, and profit and loss account for the year ended 30 April 2001 using the provided financial data and additional inform

1. **Stating the problem:** We need to prepare:

1. The problem involves understanding audit reports, their types, issuance conditions, and applying audit opinions to specific client scenarios. 2. Key components of an audit repor

1. The problem asks to calculate the overhead at the end of the year. 2. Overhead typically refers to the total indirect costs associated with running a business or project.

1. The problem states that the total debit is 372000 and the total credit is also 372000. 2. Since the totals for debit and credit are equal, the accounting equation is balanced.

1. The problem asks to explain the debit and credit rules for every account name in accounting. 2. In accounting, accounts are classified into five main types: Assets, Liabilities,