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Frank Wood Business Accounting Edition 2 Suggested Answer

Frank Wood Business Accounting Edition 2 Suggested Answer

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Published by: api-3704862 on Oct 15, 2008
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03/18/2014

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1
Business Accounting 2 Solutions Manual
Hong Kong Edition Second Edition © Pearson Education Limited 2003
Question 1-2A
(a)
Kams Books
Bills Payable20X7$20X7$Apr21Bank4,160Jan21C Bellamy & Co4,160 
21T Victor Ltd: Bill dishonoured2,900
21T Victor Ltd2,9007,0607,060Bank20X7$Apr21Bills payable4,160C Bellamy & Co20X7$20X7$Jan21Bills payable4,160Jan21Purchases4,160T Victor Ltd20X7$20X7$Jan21Bills payable2,900Jan21Purchases2,900Apr21Bills payable2,900
28Noting charges10Noting Charges20X7$Apr28T Victor Ltd10(b)
Victor’s Books
Bills Receivable20X7$20X7$Jan21P Kam2,900Jan29Bank2,900Bank20X7$20X7$Jan29Bills receivable2,900Jan29Discounting charges110Apr21P Kam: Dishonoured bill2,900 
28P Kam: Noting charges10
Business accounting 2
 
2
Business Accounting 2 Solutions Manual
Hong Kong Edition Second Edition © Pearson Education Limited 2003
1-2A con’t
P Kam20X7$20X7$Jan21Sales2,900Jan21Bills receivable2,900Apr21Bank: Dishonoured bill2,900
28Bank: Noting charges10Discounting Charges20X7$Jan29Bank110(c)
 Bellamy’s Books
Bills Receivable20X7$20X7$Jan21P Kam4,160Apr21Bank4,160Bank20X7$Apr21Bills receivable4,160P Kam20X7$20X7$Jan21Sales4,160Jan21Bills receivable4,160
Question 1-3A
(a)
 Ng:AccountsDrC
$$Jan1Purchases420Kwok420Kwok420Bills payable420Feb29Goods destroyed3,600Cost of goods sold3,600Apr1Insurance company3,000Goods destroyed3,000Apr4Bills payable420Kwok420Apr4Kwok420Interest charges10Bills payable430Apr9Bank3,000Insurance Co3,000May7Bills payable430Bank430

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