CXC CSEC Principles of Accounts (POA) - Balance sheet calculations

CXC CSEC Principles of Accounts (POA)  - Balance sheet calculations

 

Here is an interactive demo of a company's balance sheet showing how to calculate the various data types in Accounts e.g. cash ratio, debt -ratio etc...

 

 

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guest (not verified)
poa

how would i prepare a journal entry to write off the bad debts receivable which where Nat Lewis $850, Jeb Steven $ 3600 and Anna Tomas $450

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trudy (not verified)
closing stock

how do i calculate closing stock to find a ratio for my sba.

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guest (not verified)
accounts

how do u work out the net working capital?

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guest (not verified)
poa

current asset- current liabilities

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Savanna (not verified)
POA

NEED HELP WITH THIS QUESTION.wHERE AND HOW DO I PUT THIS IN THE CASHBOOK.AUG 6 -Sold goods on credit to B.Sediment for $8000.00 offering a 2% cash discount for payment before the end of the month. On Aug 29 received a cheque from B.Sediment in full settlement of account.How do I put this in the Cashbook.

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Raelene (not verified)
answer to question

Debit cash 7840, 160 discount allowed. This is done since the payment was made before the month was completed.

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guest (not verified)
its debit BANK, not cash

its debit BANK, not cash since the payment was made via cheque

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guest (not verified)
is telephone charges a fixed

is telephone charges a fixed asset?

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Sidhoney (not verified)
Its an expense

Its an expense

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guest (not verified)
accounts

hen doing the accounts sba. wat is done first rite now i'm getting confused

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starberry (not verified)
POA

hi i am new to priciples of accounts i dont really understand it an i need sum help wit double entry an trial balance

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guest (not verified)
poA

I NEED HELP WITH MY PROFIT AND LOSS ACCOUNT I WANT TO KNOW WHAT TO DO

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guest (not verified)
Re: Principles of Accounts - Balance sheet

what is under fixed assets?

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knsrichie (not verified)
poa

machines, furniture, motor vehicle,buildings,lands any thing that has a long life value.

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guest (not verified)
ANSWERING WAT IS FIXED ASSETS

FIXED ASSETS ARE ASSETS THAT ARE IN THE BUSINESS FOR A LONG PERIOD OF TIME EXAMPLE BUILDING PREMISES MACHINERY AND FIXTURES AND FITTING YOU MUST ALSO PLACE THEM IN ORDER FROM THINGS THAT ARE HARD TO SELL OFF

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guest (not verified)
poa

BALANCE SHEET

1.FIXED ASSETS

LISTS THEM

2. CURRENT ASSETS

LISTS THEM

3. LESS CURRENTS LIABILITIES

LISTS THEM

4. FINANCED BY:
LONG TERM LIABILITIES

LOAN MORTGAGE
OWNERNS EQUITY
CAPITAL
ADD: NET PROFIT

LESS DRAWINGS

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guest (not verified)
Re: Principles of Accounts - Balance sheet

i really want to see this it is so useful.

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guest (not verified)
Re: Principles of Accounts - Balance sheet

whats another name for cost of stock sold? is it cost of sales??

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Kemoy campbell (not verified)
Re: Re: Principles of Accounts - Balance sheet

Another name for cost of stock sold is closing stock

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Sansha (not verified)
POA

Hey Admin, thanks for posting the balance sheet and especially those ratios. I've been having a bit of trouble with those and it looks like a lot of help to me. It's straight forward and very easy to understand.

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