Q4

Hello tutor please provide this question solution general accounting

Hello tutor please provide correct answer general Accounting

Hello tutor please given correct answer general Accounting question

Calculate:  (iv) Average Receivable days/ Debtors collection period(v) Average Payable days/ Creditors collection period

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Journal adjusting entry for Office supplies on hand at 30 Sept is $6,050 incl. GST.

Accounting question: If you are doing a balance sheet with notes payable of 96,600. Assuming 13,600 of the note payable will be paid the following year. Where are how do you enter it.  Long Term Liability?

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Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10   JOURNAL ACCOUNTING EQUATION     DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1                 2                 3                 4                 5                 6                 7                 8                 9                 10                 11                 12                 13                 14                 15                 16                 17                 18                 19                 20                 21…

Return total assets

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engageNOWv2 | Online teachir X * CengageNOWv2| Online teachir x .com/ilrm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre. * A eBook Show Me How Accounts Receivable Analysis A company reports the following: Sales $671,600 Average accounts receivable (net) 67,160 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days Previous Next Check My Work 11:16 AM 67°F Sunny A O E D a ) 12/3/2021 n sc hone backsoce

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Journal entry worksheet 1 23 Note: Enter debits before credits. Transaction d. Annual depreciation on the professional library is $7,993. 4 Record entry 5 6 7 8 General Journal Clear entry Debit Credit View general journal >

Saved Prepare journal entries to record the following merchandising transactions of Lowe's, which uses the perpetual inventory system and the gross method. Hint: It will help to identify each receivable and payable; for example, record the purchase on August 1 in Accounts Payable-Aron. 1 Purchased merchandise from Aron Company for $7,000 under credit terms of l/10, n/30, FOB destination, invoice dated August 1. 5 Sold merchandise to Baird Corp. for $4,900 under credit terms of 2/10, n/60, FOB destination, invoice dated August 5. The merchandise had cost $3,000. 8 Purchased merchandise from Waters Corporation for $6, 000 under credit terms of 1/10, n/45, FOB shipping point, invoice dated August 8. 9 Paid $100 cash for shipping charges related to the August 5 sale to Baird Corp. 10 Baird returned merchandise from the August 5 sale that had cost Lowe's $500 and was sold for $1,000. The merchandise was restored to inventory. 12 After negotiations with Waters Corporation concerning problems…

Return on total assets

Required information [The following information applies to the questions displayed below.] The transactions listed below are typical of those involving Southern Sporting Goods (SSG) and Sports R Us (SRU). SSG is a wholesale merchandiser and SRU is a retail merchandiser. Assume all sales of merchandise from SSG to SRU are made with terms n/30, and the two companies use perpetual inventory systems. Assume the following transactions between the two companies occurred in the order listed during the year ended December 31. a. SSG sold merchandise to SRU at a selling price of $140,000. The merchandise had cost SSG $100,000. b. Two days later, SRU complained to SSG that some of the merchandise differed from what SRU had ordered. SSG agreed to give an allowance of $4,500 to SRU. SRU also returned some sporting goods, which had cost SSG $13,500 and had been sold to SRU for $18,000. No further returns are expected c. Just three days later SRU paid SSG, which settled all amounts owed. . Prepare…

Lincraft Corp. reports a current ratio of 3-to-1 in its 20X2 financial statements. The statement of financial position shows current assets of $3,140,500 and current liabilities of $1,064,100. Lincraft has accounts receivable of $1,299,300. The company transfers $1,002,000 of these accounts receivable to a financial institution. There are $35,200 of bad debts associated with these accounts receivable, an amount that is already in the allowance for doubtful accounts. Proceeds of $898,250 are received from the transfer. The transfer is on a non-notification basis, which means that the customers pay Lincraft and Lincraft then remit the cash to the financial institution. The customers pay $946,000 to Lincraft on schedule, $35,200 is written off to the allowance at the appropriate time, and the cash remittance is forwarded to the financial institution. Required: 1. Record all journal entries for the sequence of events assuming: a. The transfer is recorded as a sale/derecognition. (If no…

Required information Skip to question   [The following information applies to the questions displayed below.] On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances:  Accounts Debit   Credit Cash $ 27,300           Accounts Receivable   15,300           Allowance for Uncollectible Accounts         $ 4,200   Supplies   4,200           Notes Receivable (6%, due in 2 years)   21,000           Land   80,600           Accounts Payable           9,100   Common Stock           101,000   Retained Earnings           34,100   Totals $ 148,400     $ 148,400     During January 2021, the following transactions occur: January   2   Provide services to customers for cash, $52,100. January   6   Provide services to customers on account, $89,400. January   15   Write off accounts receivable as uncollectible, $3,900. January   20   Pay cash for salaries, $33,100. January   22   Receive cash on accounts receivable,…

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Types of accounts answer choices: Asset Equity Expense Liability Revenue Normal balance answer choices: Credit Debt Increase (Dr. or Cr.) Credit Debt

eBook Show Me How Question Content Area Cash Flows from (Used for) Operating Activities The net income reported on the income statement for the current year was $132,100. Depreciation recorded on store equipment for the year amounted to $21,800. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:   Endof Year Beginningof Year Cash $51,250   $46,640   Accounts receivable (net) 36,750   34,470   Merchandise inventory 50,170   52,470   Prepaid expenses 5,640   4,430   Accounts payable (merchandise creditors) 48,020   44,120   Wages payable 26,240   28,820   Question Content Area a.  Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. blankStatement of Cash Flows (partial)blank Cash flows from operating activities:…

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