Harbor View Marina records boat storage fees. Weekly charges: covered slips 12 at $95 each, open slips 18 at $75 each. Specify the total storage revenue.
Q: Solve these general accounting question not use ai
A: Step 1: Define Accrual BasisAs per the accrual basis of accounting, revenue should be recognized…
Q: Janson corporation balance included the following this question solution
A: Step 1: Define Current LiabilitiesCurrent liabilities are short-term obligations that are met using…
Q: Answer in step by step with explanation. Don't use Ai and chatgpt.
A: What are Generally Accepted Accounting Principles (GAAP)?Generally Accepted Accounting Principles…
Q: Need Answer of this Question with General Accounting Method
A: Step 1: Definition of Turnover:The turnover ratio measures the worth of sales or revenues compared…
Q: I want to correct answer general accounting
A: Calculating Operating Cash Flow The Operating Cash Flow (OCF) can be calculated using the following…
Q: Hello tutor please provide this question solution general accounting
A: The debt to equity ratio is given as 0.25, which means that for every dollar of equity, the firm has…
Q: I want to correct answer general accounting
A:
Q: If you give me correct answer I will give you helpful rate on these accounting question
A: Step 1: Define Standard or Budgeted QuantityIn accounting, the standard or budgeted values of…
Q: Question
A: Explanation of Entity Concept: The entity concept is a fundamental accounting principle that treats…
Q: Received bills totaling $1320 for grand opening/fourth of July party. The bill from party rentals…
A: In this transaction, there are three accounts involved. They are:Party Expenses: This account will…
Q: Hi expert please give me answer general accounting
A: The formula for computing the return on asset (ROA) is:ROA = Net Income/Total Assets Thus, for…
Q: I need answer of this question solution general accounting
A: Step 1: Start with the beginning stockholders' equityStep 2: Calculate net incomeStep 3: Subtract…
Q: Lynn Company owns equipment that cost $120,000 when purchased on January 1, 2018. It has been…
A: Journal Entries for Case (a)Account Titles and ExplanationDebitCreditCash58000 Accumulated…
Q: Please provide the Transfer Pricing Schedule/Policy under the Optimum Transfer Pricing Method for…
A: To determine the optimal transfer price using the Optimum Transfer Pricing Method, we consider the…
Q: cost accounting subject
A: Step 1: Calculate Cost of Goods Sold (COGS):COGS = Beginning Inventory + Purchases + Freight-in -…
Q: give answer for this account query
A: Steps to Apply the Lower-of-Cost-or-Market Approach:Compare the cost and market value for each…
Q: strictly NO AI use please answer me in this account query
A: Step 1: NRV/Net realizable value Net realizable value = Estimated selling price - Cost to complete…
Q: A company uses the weighted -average method solve this question
A: Step 1: Define Assigning Cost in Process CostingThe production cost report is prepared in process…
Q: No. 7-12
A: Explanation of Fresh Daily Bakery: This is likely a small business or establishment that produces…
Q: Please provide answer the accounting question
A: Step 1: Define Average Collection PeriodIt refers to a time required for a firm to collect payments…
Q: General Accounting
A: To determine the total equity of the firm, we need to identify and sum the components that belong to…
Q: Business 123 Introduction to Investments May I please have a brief rhetorical analysis of the…
A: Rhetorical analysis shows how the discussion talks to the audience, in all likelihood an…
Q: Please given answer Accounting question
A: Step 1: Define Debt to Equity RatioThe debt to equity ratio is a financial ratio that calculates the…
Q: Answer this
A: Given:Total annual subscription fees = $72,000Subscription period = 12 months (from October 1, 2013,…
Q: Requirea information [The following information applies to the questions displayed below.] Oak…
A:
Q: General Account
A: Step 1: Formula Gross profit = Sales - Cost of goods sold Step 2: Substitution Gross profit = Sales…
Q: ??
A: Explanation of Business success measured through community benefits:This definition aligns with the…
Q: Answer??
A: Explanation of Direct Labor Hours: These represent the time spent by workers directly involved in…
Q: Need help with this question solution general accounting
A: Step 1: Cost of goods sold Cost of goods sold = Sales x Estimated gross profit rateCost of goods…
Q: The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of…
A: o prepare an unadjusted trial balance as of January 31, 2024, let's follow these steps:1. Start with…
Q: Shankar Company uses a perpetual system to account for Inventory transactions. The company purchases…
A:
Q: I need questions answers accounting
A: Step 1: Define Variance AnalysisThe variance analysis is usually used for resources such as direct…
Q: Need answer of this accounting Question
A: Explanation of Beginning Count:The Beginning Count represents the number of plants available in…
Q: Please need answer the general accounting question
A: Step 1: Define Line of CreditLine of credit is a facility provided by the lender to the borrower to…
Q: Select correct answer
A: Depreciation methods are used in practice to spread the cost of an asset over the useful economic…
Q: Hanley carwash
A: Step 1: Define Profit Volume ratioThe profit volume (P/V) ratio shows the amount of profit or…
Q: Department w had 2,609..Accounting questions
A: Step 1: Define Units TransferredThe units transferred by the companies under the process costing…
Q: Need help with this question solution general accounting
A: Step 1: Definition of Standard Cost Per Unit:The standard cost per unit of a product is helpful in…
Q: Om january....accounting question
A: Step 1: Define Stockholders' EquityStockholders equity refers to the value of a company that is…
Q: answer
A: The problem involves calculating estimated direct labor hours used in a predetermined overhead rate.…
Q: General Accounting Question please answer
A: Step 1: Define Straight-line DepreciationIt is a method that depicts the equal amount of expense…
Q: Answer in step by step with explanation. Don't use Ai and chatgpt. Answer in all options. Vvvvvvv
A: Understanding Qualitative Information:Qualitative information refers to information that is not in…
Q: Need help with this question solution general accounting
A:
Q: Which circumstances warrant modifications to standard depreciation method?
A: Explanation:Depreciation is a systematic method of allocating the cost of an asset over its useful…
Q: 2. This is the first accounting period for Fiona Franklin Financial Planning. The Temporary Equity…
A: Closing entries are recorded at the end of the reporting period to eliminate the temporary…
Q: Need help with this question solution general accounting
A: Part A:Computation of the length of the cash conversion cycle by using the following formula:Cash…
Q: General accounting
A: Step 1: Define Return on Equity (ROE)ROE is a profitability ratio that measures a company's ability…
Q: How would brought 125 inner tubes for $1225, paying down $500 with remaining due in 20 days be…
A: In this transaction, there are three accounts involved:Inventory: This is an asset account that will…
Q: Four grams of musk oil are required for each bottle of Mink Caress, a popular perfume made by a…
A: Detailed explanation: 1st2nd3rd4thYear TotalBudgeted Production in Bottles…
Q: Hello tutor please provide this question solution general accounting
A: Step 1: Define Credit SalesCredit sales of a company can be confirmed by looking at the accounts…
3.7 Question financial accounting
Step by step
Solved in 2 steps
- Replace all taxes given in the question with HST of 13%Elm City issued a purchase order for supplies with an estimated cost of $5,000. When the supplies were received, the accompanying invoice indicated an actual price of $4,950. What amount should Elm debit (credit) to the reserve for encumbrances after the supplies and invoice were received?a. ($50)b. $50c. $4,950d. $5,000Assume that a town places an order for a truck with an estimated cost of $39,850. When the truck is delivered, the actual cost is $45,600. Required: Prepare the journal entry to record the issuance of the purchase order and its payment when the truck is delivered.
- A credit sale of $1000 is made on may 1, terms 2/10, net/30. A return of $100 is granted on may 3. The entry to record the collection of the payment on may 8 would include a debit to9. Review the following transactions for April Anglers and record any required journal entries. Oct. 4 April Anglers purchases 82 fishing poles at $33 each with cash. Oct. 5 April Anglers purchases 116 fishing poles at $30 each on credit. Terms of the purchase are 3/15, n/30, invoice date October 5. Oct. 12 April discovers 18 of the fishing poles are damaged from the October 4 purchase and returns them to the supplier for a full refund. April also discovers that 32 of the fishing poles from the October 5 purchase are the wrong length but keeps them since the supplier granted an allowance of $15 per fishing pole. Oct. 24 April pays their account in full from the October 5 purchase, less any returns, allowances, and/or discounts. Solution Debit Credit Date Accounts and ExplanationBen City issued a purchase order on 05/10/19 for supplies with an estimated cost of $8600. An Encumbrance of $8600 was recorded at that time. When the supplies and accompanying invoice were received on 08/13/19, the invoice indicated a $9200 actual price. For what amount should Ben City credit ENCUMBRANCES on 08/13/19? BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000. Your Answer:
- Review the following transactions for April Anglers and record any required journal entries. Oct. 4 April Anglers purchases 82 fishing poles at $33 each with cash. Oct. 5 April Anglers purchases 116 fishing poles at $30 each on credit. Terms of the purchase are 3/15, n/30, invoice date October 5. Oct. 12 April discovers 18 of the fishing poles are damaged from the October 4 purchase and returns them to the supplier for a full refund. April also discovers that 32 of the fishing poles from the October 5 purchase are the wrong length but keeps them since the supplier granted an allowance of $15 per fishing pole. Oct. 24 April pays their account in full from the October 5 purchase, less any returns, allowances, and/or discounts. Solution Date Accounts and Explanation Debit Credit…IV. A new sound system is being installed at Club Falcon. The invoice, dated June 9, shows the total cost of the equipment as $16,480. Shipping charges amount to $516, and insurance is $81.20. Terms of sale are 2/10 prox. If the invoice is paid on July 9, what is the net amount due?A local company received an invoice for $3,647.00 dated March 8 with terms 2/10, n/30. The company paid the bill March 15. What amount should be paid?
- On March 12, Medical Waste Services provides services on account to Grace Hospital for $9,100, terms 2/10, n/30. Grace pays for those services on March 20. Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 20Oswego Clay Pipe Company sold $45,800 of pipe to Southeast Water District 45 on April 12 of the current year with terms 2/15./60. Oswego uses the gross method of accounting for sales discounts. What entry would Oswego make on June 10, assuming the customer made the correct payment on that date?A plumbing supply company has a discount policy which states that, if a customer pays within 15 days of the invoice, the customer can take a 3% discount; otherwise, the full amount is due in 60 days from the date of the invoice. Which of the following notations are used in business to reflect this discount? A. 3/15,n/60 B. 3/60,15/n C. 15/3,60/n D. 3/n,15/60
