Prepare year-end adjustments at 30 June for the following transactions. Unrecorded interest receivable that has accrued on investment bonds is $2,500. Service revenues of $15,000 were collected in advance. By the year end, a third was earned. 2 years’ rent, totalling $24,000, was paid in advance at the beginning of the year. The company has performed services totalling $15,000 but not yet invoiced by the end of the year. Depreciation on equipment, $3,000, has not been recognised for the year. $4,800 was paid for 12-months insurance policy covering from 1 February. Since the payment, the firm hasn’t recognised any insurance expense yet.

The following information was available for the year ended December 31, 2022:Earnings before interest and taxes (operating income) $ 50,000Interest expense 10,000Income tax expense 12,000Net income 28,000Total assets at year-end 200,000Total liabilities at year-end 120,000The debt ratio at December 31, 2022 was:

Ref-2: On 1St October, 2022, a rent payment of $360,000 was made for two years in advance with respect to the company's warehouse premises, and debited in full to 'Prepaid Rent'. The rental tenancy began on 1st October, 2022. What is the required adjusting journal entry for the 2023 financial year end?

On 1 August 2023 RFX Ltd issues a one year (1) $100,000 note to Reg Miles for the purchase of a motor vehicle. Interest on the note payable is 8% per annum and is due at the end of the six-month term of the note. RFX Ltd has a 31 October balance date.What is the correct entry to record interest on the note for the year ended 31 October 2023?Group of answer choicesDr Interest expense $8,000 Cr Interest payable $8,000Dr Interest expense $2,667 Cr Interest payable $2,667Dr Interest expense $2,000 Cr Interest payable $2,000Dr Interest expense $4,000 Cr Interest payable $4,000

Depreciation of R25 000 for equipment for the year ended February 2022 will be recorded as follows:Select one:a.Debit equipment; Credit depreciationb.Debit accumulated depreciation; Credit depreciationc.Debit depreciation; Credit equipmentd.Debit depreciation; Credit accumulated depreciation

Context: Details of accumulated depreciation of property, plant and equipment are as follows.Assets Cost Rs. ‘000’ Accumulateddepreciation Rs. ‘000’Motor vehicleOffice equipmentLand and building(Land cost Rs. 5 000)2 0001 0009 7006006251 80012 700 3 0252. In accordance with inventory records, cost value of stock on 31.12.2021 is Rs. 450 000. However, thegoods taken by Gayathri for her private need have not been recorded.3. Telephone charge not paid up to 31.12.2021 is Rs. 30 000.4. Property, plant and equipment are depreciated on straight line method. The details useful life time andresidual value are given below.Grade - 12 (2023) – 2023 FWC - 7 - Accounting- IAssets Useful life time Residual valueMotor vehicleOffice equipmentBuilding20 years10 years18 years--- Details of accumulated depreciation of property, plant and equipment are as follows. Assets Cost Rs. ‘000’ Accumulated depreciation Rs. ‘000’ Motor vehicle Office equipment Land and building (Land cost Rs. 5 000) 2 000 1 000 9 700 600 625 1 800 12 700 3 025 2. In accordance with inventory records, cost value of stock on 31.12.2021 is Rs. 450 000. However, the goods taken by Gayathri for her private need have not been recorded. 3. Telephone charge not paid up to 31.12.2021 is Rs. 30 000. 4. Property, plant and equipment are depreciated on straight line method. The details useful life time and residual value are given below. Grade - 12 (2023) – 2023 FWC - 7 - Accounting - I Assets Useful life time Residual value Motor vehicle Office equipment Building 20 years 10 years 18 years - - - Profit or loss statement for the year ended 2021.12.31 2. Statement of financial position as at 2021.12.31