In our examination, the following were disclosed: Accounts receivable

Questions

October 2021 1 21 Report

In our examination, the following were disclosed: Accounts receivable – beginning Php50,000.00 and an Accounts receivable – end Php10,000.00. If collections during the month is Php60,000.00. The billing charges to customers should have been?

Answers & Comments

SmitaMissinnocent

Explanation:

o2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)

o2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C

o2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C

o2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C

o2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C

o2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C

o2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C(6) Furniture A/C

o2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C(6) Furniture A/C(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C