FAR210 On 1 August 2022, Tango Bhd bought inventories at RM75,000 (excluding transportation cost of RM2,400) from JP Bhd: Financial Accounting And Reporting Assignment, UiTM, Malaysia

University Universiti Teknologi MARA (UiTM)
Subject FAR210 financial accounting and reporting Assignment

4. On 1 August 2022, Tango Bhd bought inventories at RM75,000 (excluding transportation cost of RM2,400) from JP Bhd. The company paid 10% of the value in cash upon the delivery while the balance will be paid in 30 days. On 25 August, the company paid all the outstanding amount to JP Bhd by cheque. However, these transactions have been recorded in the company’s book.

Required:
i. Discuss whether the above transactions on 1 August 2022 give rise to financial liability in the books of Tango Bhd.
ii. Prepare the journal entry to record the above transactions (Assuming that the company is mistakenly omit the above transactions from the record)

Stuck in Completing this Assignment and feeling stressed ? Take our Private Writing Services.

Get Help By Expert

Ace your academic challenges at Universiti Teknologi MARA (UiTM), Malaysia, with our premium assignment help services and specialized Report Writing Help. UiTM students can now effortlessly navigate FAR210 Financial Accounting and Reporting by paying our experts for tailored assistance.Whether it's deciphering inventory transactions like Tango Bhd's RM75,000 purchase (excluding RM2,400 transportation cost) from JP Bhd on August 1, 2022, or crafting impeccable reports, our experts have you covered. Elevate your UiTM experience with our focused support—your key to academic success.

Answer

Recent Solved Questions

Online Exam & Assignment Writing Services

11770+ Orders Delivered

4.9/5
5 Star Rating

Confidential & Secure Assignment Help For

Group Assignment Help

Online Exam -Test & Quiz

Cheapest Price Quote

Diploma & Certificate Levels

Semester & FYP Papers

Summative & Individual

GBA & Reflective

Last Minute Assistance

Sample Assignment Download

CEG551 Geotechnical Laboratory UITM Assignment Sample Malaysia
CEG551 Geotechnical Laboratory is an essential course offered at Universiti Teknologi MARA (UiTM) for Civil Engineering students. The course focuses on providing students with hands-on experience in the field of…
Engineering
AAR653 Steel Structures And Foundation UITM Assignment Sample Malaysia
AAR653 Steel Structures and Foundation is a foundational course that exposes students to the design of steel structures and the analysis of steel foundations. The topics taught include an introduction…
Assignment Sample

UP TO 15 % DISCOUNT

Instant Paper Writing Services by Native Malaysia Writers

Plagiarism Free Solutions
100% Original Work
24*7 Online Assistance
Native PhD Experts
Hire a Writer Now

Get Assistance for Assignments, online Exam, and Projects Writing