furniture purhased for cash $1,500 make journal entry
Q: 8:33 LTE יוו. AA v2.cengagenow.com CengageNOWv2 | Online teaching and learning resource from Cengage…
A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…
Q: On January 12th 2021, Muscat Company purchased equipment for OMR 30,000 in cash The Journal Entry…
A:
Q: Rolfes Company purchased merchandise on account from Springhill Company for $6,300, terms 1/10o,…
A: Payment due=Purchase-Purchase return=$6,300-$1,600=$4,700
Q: Can you write the analysis for this paper
A: The objective of the question is to analyze the data presented in the table. The table appears to be…
Q: Muscat company purchased Furniture for R.O 15,000 on account. Which of the following journal entries…
A: Definition: Journal: Journal is the method of recording monetary business transactions in…
Q: Purchased furniture $2,800 on credit. What is correct journal entry: Select one: a. debit Furniture;…
A: Given transaction is: Purchased furniture $2,800 on credit
Q: Proctoring Enabled Exam 2 Version AO 3 Saved Mitchell uses a perpetual Inventory system. Mitchell…
A: In accounting, a journal entry is a record of a transaction by debiting and crediting the accounts…
Q: December Transactions: Dec. Bought store supplies on account from Daniels Supply, $153.00. M85.…
A: Journal Entries Date Particulars Doc no Post Ref Debit Credit 2-Dec Store supplies Dr M85…
Q: Debit Credit
A: Journal entries are the starting point of any financial statement. They streamline the whole process…
Q: 8 0:31:03 Nebraska Furniture Mart is a home furnishing store in North America. Nebraska Furniture…
A: Formula: Acid-test ratio=Total current assets-Inventory+Prepaid expensesTotal current liabilities
Q: Organize the general ledger please thanks!!!
A: General ledger accounts are used to post all the recorded journal entries in the appropriate…
Q: e current year, merchandise is sold for $135,100 cash and $501,500 on account. The cost of the goods…
A: Gross profit is the profit which is arrived at by deducting cost of goods sold from Total net sales.…
Q: C. December 1. Wrote check to establish a petty cash fund, $200 CK NO. 21. d. December 9. Used debit…
A: Journal Entry: Journalizing entails recoding business transactions in the Journal in a chronological…
Q: Record the entry: Paid $774 cash in supplies
A: Journal entries are recording of the transaction in the accounting journal in a chronological order.…
Q: Felicity Flower purchases inventory on credit for her laundry business. She buys 5 washing machines…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: purchased furniture £5400 for sale on credit from home ltd
A: solution transaction given purchased furniture £5400 for sale on credit from home ltd It means that…
Q: 10/ On May 6th, 2018, Almateb traders purchased RO 33,500 of merchandise for cash with shipping…
A: Periodic inventory system is that method of cost accounting which doesn't recognizes…
Q: PARTICULARS FOLIO 123 678 DEBIT 250,000 CREDIT DATE Dec 1, 200 Cash Roa, Capital Initial investment…
A: Journal entry becomes the base for the preparations of the ledgers accounts. All transaction…
Q: Austin Clinic deposits all cash receipts on the day when they are received and it makes all cash…
A: Bank reconciliation is required where the cash book balance and bank statement is not matched due to…
Q: Journal Entry for Asset Purchase Prepare a journal entry for the purchase of office supplies on…
A: Journal entry: Journal entry is a set of economic events that can be measured in monetary terms.…
Q: When journalizing furniture purchased on account for $3,700, what account does furniture go under…
A: When we purchase the furniture then assets will increase and when assets increases it would be…
Q: Use the Excel function XIRR to calculate the dollar-weighted average return between the first and…
A: The dollar-weighted rate of return accounts for the quantity and timing of cash inflows and outflows…
Q: A purchase of an asset on account a. decreases expenses. b. decreases owner's equity. c. increases…
A: Accounting Equation :— It is the relationship between assets, liabilities and owner's equity.…
Q: Question invoice for $15,000 terms FOB destination received entered on January 2 receiving report…
A: The fact of the matter is that on 31 December, goods were received, albeit the invoice of $ 15,000…
Q: January Transactions: Jan. 3 Purchased merchandise from Feng, $7,000. Invoice No. 416, dated January…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: Cost of Goods Sold = [ ? ]
A: COGS includes all the direct expenses that are incurred in production. Indirect expenses to…
Q: 9/2 Purchased $2000 of merchandise from Z Co. 1/10, n/30, FOB shipping point $100. 9/3 Paid $100 for…
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: A $200 e-reader is sold in bulk to your store for $186. Calculate the trade discount rate. A. 8% C.…
A: A trade discount is the difference between the listed price and takeout price. The discount rate can…
Q: Ali first vendor inventory payment is due of $3,000. * O Cash O Inventory O Account payable O…
A: First question: Accounts payable
Q: MC Qu. 4-43 Adjustments help to ensure that all... djustments help to ensure that all are recorded…
A: The adjustment entries are made at the end of the year to adjust the revenues and expenses of the…
Q: admiHII examples of what type of expense? a. selling expense b. miscellaneous expense c.…
A: As posted multiple independent questions we are answering only first question kindly repost the…
Q: Tony and Suzie are ready to expand Great Adventures even further in 2025. Tony believes that many…
A: The foundational elements of the double-entry bookkeeping system in accounting are journal entries.…
Q: Ruler ACC 201 Final Exam Compatibility Mode Saved O Search Shawnda Stampe ert Design Layout Mailings…
A:
Q: Purchase of inventory on credit for $14,350. Please select the correct journal entry for it' O Dr Dr…
A: The journal entries are prepared to record the transactions on regular basis. The assets and…
Q: Business purchased $3000 of inventory from citylight Inc. paid in cash . what is merchandise…
A: Merchandise are the goods purchased for the purpose of resale in the ordinary course of business.…
Q: Cash Notes Receivable Accounts Receivable Interest Receivable Merchandise Inventory stimated Returns…
A: Financial Statements : These are the statements prepare at the end of accounting year to know about…
Q: reate the journal entry for the transactions below
A: Date Particulars Amount (Debit) 1-Mar Cash 60000 Bank Note Payable 60000…
Q: K Posting a $2,500 purchase of office supplies on account appears as follows: O A. O B. O C. O D.…
A: Journal entries are used to record transactions in chronological order under double entry accounting…
Q: The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense…
A: The income statement is one of the important financial statements of the business. It tells about…
Q: journalize these receivable accounts (accounts receivable, notes receivable, or other receiveable on…
A: Particulars Amount. Dr. Amount Cr. 1 Accounts receivable 10,000 To, Cash 10,000…
Q: 0 日･･ FILE 1. Prepare and analyze a merchandiser's multi-step income statement. Al From From from…
A: Income Statement -An income Statement is a financial statement that includes revenue earned from the…
Q: Required information [The following information applies to the questions displayed below.] Laker…
A: The inventory can be valued using various methods as LIFO, FIFO, weighted average method and…
Q: Required information [The following information applies to the questions displayed below.] On…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: On October 15, Cross Eyeglasses had a balance of $4,390 in its Social Security tax payable account…
A: The journal entry can be defined as the first step where the business transaction are entered into…
furniture purhased for cash $1,500 make
Step by step
Solved in 2 steps
- The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $85,500 of manufacturing overhead for an estimated activity level of $45,000 direct labor dollars. At the beginning of the year, the inventory balances were as follows: Raw materials Work in process Finished goods During the year, the following transactions were completed: $ 10,100 $ 4,100 $ 8,700 a. Raw materials purchased on account, $169,000. b. Raw materials used in production, $142,000 (materials costing $122,000 were charged directly to jobs; the remaining materials were indirect). c. Costs for employee services were incurred as follows: Direct labor Indirect labor Sales commissions Administrative salaries $ 178,000 $ 262,200 e. Utility costs incurred in the factory, $12,000. f. Advertising costs incurred, $14,000. $ 25,000 $ 47,000 d. Rent for the year was $19,000 ($13,600 of this amount…Prepare a columns cash book from the following transcation for the year 31 december 2019.cash in hand Rs 18000 Received from ali and co Rs 1509 discount allowed Rs 60 Cash saled Rs 30000 Paid rashid sons Rs 1509 discount received Rs 40 Purchased goods for cahs Rs 900 Received from aslam Rs 7500 and discount allowed Rs 40 Purchased furniture for cash Rs 900Juanita Jolley purchases inventory on credit for her jewellery business. She buys 3 diamond rings at $5,940 each including GST. What journal entries are required? O Debit Inventory $5,400; Debit GST $540; Credit Accounts payable $5,940 Debit Accounts payable $5,940; Credit Inventory $5,400, Credit GST $540 ● Debit Inventory $5,940; Credit Accounts payable $5,400, Credit GST $540 Debit Inventory $5,940; Credit Accounts payable $5,940
- Answer full question please.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…Make an 'Income Statement', information indicated in the photo
- it View History M faith@.. tems 37.66% ··· Bookmarks Window AOL Ma.... B E C eBook U Sales Mail - F... Cost of goods sold Help Operating income Expenses: Selling expenses Administrative expenses The following multiple-step, income statement was prepared for Carlsbad Company contains errors: CARLSBAD COMPANY Income Statement For the Year Ended February 28, 2018 Delivery expense Total expenses Other expense: Interest revenue Gross profit R V Portal h... Check My Work 10 more Check My Work uses remaining. % G Chapter... B v2.cengagenow.com Prepare a corrected income statement for Carlsbad Company for the year ended February 28, 2018. Carlsbad Company Income Statement 6 $ 1,800,000 1,350,000 112,500 H C Cengag.. 9,495,000 (5,962,500) $3,532,500 (3,262,500) 270,000 90,000 $180,000 All work saved. N MacBook Pro ** W Activity... 8 M FA 9 K Save and Exit Submit Assignment for Grading 1Purchased equitment with $6,000 cash. What accounts does this go into in the journal?Cost of good sold over this period ?
- Post the following general journal entries to the general ledger?4 5 6. 7 8 > Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $285. Note: Enter debits before credits. Date General Journal Debit Credit Nov 16 Drov 2 of ? NextTube C CengageNOWV2 | Online teaching and learning resourc... Using the following information for a periodic inventory system, what is the amount of net income (loss)? Purchases Inventory, September 1 Administrative expense Rent revenue Sales 1,146 Selling expense $825 Inventory, September 30 11,074 58,402 $28,452 7,276 697 Interest expense Oa. $32,565 Ob. $807 Oc. $24,654 X Od. $27,288 Dashboard 807
