5N POA - Revision Balance Day Adjustments by Ms Livia Lim https://padlet.com/chr/rtg1rq3zqtllfni6 Watch this youtube video and answer the question (https://www.youtube.com/watch?v=Yo4qPDXK7AM) en-us 2020-04-22 03:13:27 UTC 2026-01-26 09:04:21 UTC hello@padlet.com (a)(i) Can Tan Chiak record the $3000 cash deposit that he received from the school as income? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521845728 2020-04-22 03:14:25 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521845728 (b)(i) Should Tan Chiak record in his accounting books the employee salaries that he has not paid out? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521847516 2020-04-22 03:16:11 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521847516 (a)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521848446 2020-04-22 03:16:50 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521848446 (b)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521849360 2020-04-22 03:17:39 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521849360 (a)(i) Can Tan Chiak record the $3000 cash deposit that he received from the school as income? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521849681 2020-04-22 03:17:59 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521849681 (a)(i) Can Tan Chiak record the $3000 cash deposit that he received from the school as income? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851099 No. He did not deliever them yet. Until service is provided, income is earned.]]> 2020-04-22 03:19:28 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851099 (a)(i) Can Tan Chiak record the $3000 cash deposit that he received from the school as income? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851117
no, because it is a prepaid and should be recorded under current asset which will only appear in income statement.]]> 2020-04-22 03:19:29 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851117 (a)(i) Can Tan Chiak record the $3000 cash deposit that he received from the school as income? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851130 no as he received the amount but had not deliver the goods yet]]> 2020-04-22 03:19:30 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851130 (a)(i) Can Tan Chiak record the $3000 cash deposit that he received from the school as income? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851140 No.
Tan Chiak has not deliver the goods to the school yet. Therefore he cannot record $3000 cash deposit that he received.]]> 2020-04-22 03:19:31 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851140 (a)(i) Can Tan Chiak record the $3000 cash deposit that he received from the school as income? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851193 No,he can only received the $3k as income only if the school have receive the shirts.]]> 2020-04-22 03:19:34 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851193 (a)(i) Can Tan Chiak record the $3000 cash deposit that he received from the school as income? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851211 no, because he has not provided the shirt and he has not earned the income of $3000]]> 2020-04-22 03:19:35 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851211 (a)(i) Can Tan Chiak record the $3000 cash deposit that he received from the school as income? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851231 No, as he has not delivered his goods to his customers  ]]> 2020-04-22 03:19:35 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851231 (a)(i) Can Tan Chiak record the $3000 cash deposit that he received from the school as income? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851241 [a][ii] no as tan chiak has not deliver the goods yet]]> 2020-04-22 03:19:36 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851241 (a)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851332 2020-04-22 03:19:42 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851332 (a)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851370 Matching concept.]]> 2020-04-22 03:19:44 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851370 (a)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851373 matching concept]]> 2020-04-22 03:19:44 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851373 (a)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851382 Matching Concept ]]> 2020-04-22 03:19:45 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851382 (a)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851399 matching concept]]> 2020-04-22 03:19:46 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851399 (a)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851404 Matching concept]]> 2020-04-22 03:19:47 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851404 (a)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851419 Matching concept]]> 2020-04-22 03:19:48 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851419 (a)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851483 matching]]> 2020-04-22 03:19:50 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851483 (a)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851501 matching concept]]> 2020-04-22 03:19:51 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851501 (b)(i) Should Tan Chiak record in his accounting books the employee salaries that he has not paid out? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851574 2020-04-22 03:19:56 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851574 (b)(i) Should Tan Chiak record in his accounting books the employee salaries that he has not paid out? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851582 Yes he should.  Expenses should be recorded when incurred. If not it will be understated]]> 2020-04-22 03:19:57 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851582 (b)(i) Should Tan Chiak record in his accounting books the employee salaries that he has not paid out? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851590 yes he should as expense would have been incurred and thus he should record as a accured salaries expenses]]> 2020-04-22 03:19:57 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851590 (b)(i) Should Tan Chiak record in his accounting books the employee salaries that he has not paid out? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851609 yes as the employee had already work for him so it should be recorded under salaries expense to show that they had done their job.]]> 2020-04-22 03:19:58 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851609 (b)(i) Should Tan Chiak record in his accounting books the employee salaries that he has not paid out? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851635 Yes,it does not matter if he pay the salaries as his employees work for him .]]> 2020-04-22 03:20:00 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851635 (b)(i) Should Tan Chiak record in his accounting books the employee salaries that he has not paid out? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851648 yes, because it is an accrued expense as he has to pay the employees the salaries]]> 2020-04-22 03:20:01 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851648 (b)(i) Should Tan Chiak record in his accounting books the employee salaries that he has not paid out? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851663 Yes, as expenses should be recorded when they are incurred ]]> 2020-04-22 03:20:02 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851663 (b)(i) Should Tan Chiak record in his accounting books the employee salaries that he has not paid out? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851683 yes he should as expense must be recorded whether or not they have been paid]]> 2020-04-22 03:20:03 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851683 (b)(i) Should Tan Chiak record in his accounting books the employee salaries that he has not paid out? Why or why not? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851693 Yes. He has to record salaries expense regardless on whether they have been paid or not.]]> 2020-04-22 03:20:03 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851693 (b)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851784 2020-04-22 03:20:10 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851784 (b)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851790 Accrual concept]]> 2020-04-22 03:20:10 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851790 (b)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851806 accural concept]]> 2020-04-22 03:20:11 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851806 (b)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851817 accrual]]> 2020-04-22 03:20:12 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851817 (b)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851881 Accrual concept.]]> 2020-04-22 03:20:15 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851881 (b)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851893 accrual concept]]> 2020-04-22 03:20:16 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851893 (b)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851913 Accrual concept ]]> 2020-04-22 03:20:17 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851913 (b)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851930 accrual concept]]> 2020-04-22 03:20:18 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851930 (b)(ii) Which accounting concept requires this? mslivia https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851948 Accural concept]]> 2020-04-22 03:20:19 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521851948 https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521917288 He cannot. He will only earn when the goods are being delivered to the customers.]]> 2020-04-22 04:19:57 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521917288 https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521918197 Matching concept ]]> 2020-04-22 04:20:38 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521918197 https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521920281 Yes he should. Expenses should be recorded when incurred.]]> 2020-04-22 04:22:28 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521920281 https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521921065 Accrual concept ]]> 2020-04-22 04:23:09 UTC https://padlet.com/chr/rtg1rq3zqtllfni6/wish/521921065