Description
I want to stress some very important instructions to you
First, plagiarism must be zero, any percentage will cause the teacher to cancel my homework
You must focus on the solution and put the requirements correctly and without any error, a correct and complete solution to all questions
References must be placed and placed in style APA.
Put the solution inside the file
There is no possibility of error, you must make sure of the solution well
If you are sure that you will solve it correctly, accept the work
Assignment (2)
Deadline: April 19th 2025 Time 23:59
Course Name: Principle Of Accounting
Course Code: ACCT 101
Student’s Name:
Student’s ID Number:
CRN:
Semester: 2nd
Academic Year: 1446 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade:
/15
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
• The Assignment must be submitted on Blackboard (WORD format only) via allocated
folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented; marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or
other resources without proper referencing will result in ZERO marks. No exceptions.
• All answers must be typed using Times New Roman (size 12, double-spaced) font.
No pictures containing text will be accepted and will be considered plagiarism.
• Submissions without this cover page will NOT be accepted.
College of Administration and Finance Sciences
Assignment Question(s):
(Marks 15)
Q1: A company reports the following financial details for the year:
Revenue: SAR750,000 Cost of Goods Sold (COGS): SAR300,000 Operating Expenses: SAR200,000
Interest Expense: SAR20,000 Tax Expense: SAR30,000 Beginning balance of the company’s retained
earnings $500,000 Dividends SAR50,000
A- Prepare the company’s net income statement
B- Prepare the ending retained earnings statement. (5 Marks)
Q2: A company’s balance sheet provides the following details:
Cash: SAR100,000 Accounts Receivable: SAR150,000 Inventory: SAR250,000 Property, Plant &
Equipment (PPE): SAR500,000 Accounts Payable: SAR180,000 Long-term Debt: SAR320,000
What is the company’s total assets, total liabilities, and shareholders’ equity? (5 Marks)
Q3: A company’s cash book shows a balance of $5,000, but the bank statement shows a balance of $4,200.
After investigation, the following differences were found:
1. A check issued for $1,000 has not yet been presented to the bank.
2. A bank service charge of $50 was not recorded in the cash book.
3. A deposit of $250 was made but is not yet reflected in the bank statement.
What is the adjusted Cash and Bank balance after reconciliation? (5 Marks)
College of Administration and Finance Sciences
IMPORTANT NOTE: Answer in your own words, DO NOT COPY from slides,
fellow student, or internet source without proper citation.
Answers Page.
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