[yngwie]

Can anybody tell me what are purpose of report to the company?:confused:

[yngwie]

Please help calculate this..
I) During the month of June, Syarikat Helena recorded cash sales of $65,000 and credit sales of $72,000. The related expenses amounted to $21,000 of which $4,000 was paid cash. Calculate the revenue, expenses and net income for Helen Company.

ii) The liabilities of BZ Company is equivalent to one fourth of its assets. Its owner's equity is $120,000. Calculate its liability.

[yngwie]

In the module Reen's Cyber Service was used as example in every transactions. My question is why do we use sundry expense for advertisement. It would ease if we properly use advertisement expense word when to record in journal and ledger?

[Curlyben]

Thank you for taking the time to copy your homework to AMHD.
Please refer to this announcement: https://www.askmehelpdesk.com/financ...-b-u-font.html

[morgaine300]

It's easier if you don't post 3 different questions on the same thread so that people don't have to chase posts down that are all related to the same question.

As for the first one, reports can serve all sorts of purposes to a company, but the simple answer is just so that they can see how their company is performing during a time, and also to see where their financial issues stand at any given time. If you were to track everything you made and everything you spent, and then put a report together at the end of the year that listed all that in categories, don't you think that would help you, say, budget your money better?

As for the second, see the link in Ben's post. I will not answer your homework for you. I will check your answers or help you understand it, but not answer it.

As for the third, I have no idea what this module is, so I can't see it nor answer any specific questions about it. However, I can say that a company may use any expense account they like. We do not use the title "sundry" in the US so I'm assuming that means like "miscellaneous." If they want to lump their advertising expenses with other miscellaneous expenses they are allowed to do so. Sometimes when a company spends very little on some specific expense, they just lump them together into one account instead of having numerous accounts for every little different expense they may have. So you cannot say that it's improper to use an account title other than Advertising Expense.

You will find that textbook problems tend to do many things the same way, using common account titles, etc. But in real life the company can call stuff just about anything they like as long as it works and make sense.