acct 1001 practice set (2 Viewers)

[jpr333]

Yes, I got the same figure as him.

Ok it was a simple error, confirmed *3.

 

[jpr333]

yeh i can, confirm them.. sory if i sounded rude, just trying to help brother... it matters but man.. because we're procesing the same transactions.. and chances are... if urs balances but differs, then u prolli just made a silly mistake somewhere.. thats all i meant (Y)

No worries you just corrected an error for me

 

[aditya]

that was the dream

 

[absolution*]

whens the practise set due, someone?

 

[sarevok]

12pm Wednesday.

 

[jpr333]

Strange that it asks us to enter the adjusting entries into the worksheet first then the general journal. I refuse to comply!

 

[aditya]

hahaha cute

 

[kow_dude]

This is driving me nuts. The only sales discount i got is from

July
2. Southwest edu 305
8. Daydream 574
18. Daydream 441
28. South-west 188

Am i missing somthing?

 

[aditya]

are u 11 dollars of?

if so people have taken a discount from the purchase returns... i dno if u do this.. but i just copied it...

 

[kow_dude]

omg i've had enough of this. I'm just gonna finish it off and study for my other subjects.

 

[sweetgurl]

yep got same results as absolutions* but not sure if my profit figure is correct..... *sighs*

 

[s.m.i.t.h]

what did everyone get for the amt in the profit loss column and the balance sheet column??

thanks

 

[04er]

is sundry expense an administrative expense?

 

[ToO LaZy ^*]

yeah, i put it under admin.
it shouldnt matter that much though

 

[Lainee]

In the Balance Sheet, what accounts should be under the Shareholders' Equity heading? Is it Share Capital + Retained Profits (ie. 141 340 + Profit - Dividends Declared)?

 

[jpr333]

So uh i know this has probably been asked but why is the worksheet missing a depreciation expense row and what should we do to adress it ? (total the two?)

 

[jpr333]

Yes Lainee

 

[kow_dude]

We're suppose to add "Depreciation expense - store fittings" into the worksheet.

 

[04er]

where would we write accumulated depreciation on the balance sheet? :|

 

[jpr333]

Under the asset.