Journalise: Furniture purchased for cash $10,000 Goods sold on credit to John $1,600 The commission received in cash was $2,000
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Journalise:
- Furniture purchased for cash $10,000
- Goods sold on credit to John $1,600
- The commission received in cash was $2,000
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- What type of balance is D. Martin's a/c carrying? Dr. Feb 10 Feb. 28. Return Outwards Bank a. Debit balance of $1,020 O b. Credit Balance of $1,020 Oc. Credit balance of $200 Od. Debit balance of $200 195 $ 215 D. Martin Feb. 2 A/c Purchases $ Cr. 610Company A purchases goods for cash on January 15. They purchase 10 items at a cost of $50 per item. 5 of these items are sold on January 29 for $700 cash. What is/(are) the entry/(ies) on January 29 to record the sale of the goods? O Debit Cash $700 Credit Sales Revenue S700 O Debit Accounts Receivable $700 Credit Sales Revenue $700 Debit Cost of Goods Sold $250 Credit Inventory $250 Debit Cash $700 Credit Sales Revenue $700 Debit Cost of Goods Sold S250 Credit Inventory $250 O Debit Cash $700 Credit Sales Revenue $700 Debit Cost of Goods Sold $500 Credit Inventory 5500Raw materials purchased on account, $60,000. Date Debit Credit $
- Record the following purchase transactions of Money Office Supplies. Aug. 3 Purchased 40 chairs on credit, at a cost of $60 per chair. Shipping charges are an extra $3 cash per chair and are not subject to discount. Terms of the purchase are 4/10, n/60, FOB Shipping Point, invoice dated August 3. Aug. 7 Purchased 25 chairs with cash, at a cost of $50 per chair. Shipping charges are an extra $4.00 cash per chair and are not subject to discount. Terms of the purchase are FOB Destination. Aug. 12 Money Office Supplies pays in full for their purchase on August 3. If an amount box does not require an entry, leave it blank. Assume the perpetual inventory system is used. Aug. 3 Purchase Aug. 3 Shipping charges Aug. 7 Purchase with cash Aug. 12 PaymentA buyer purchases $250 worth of goods on credit from a seller. Shipping charges are $50. The terms of the purchase are 2/10, n/30, FOB Destination. What, if any, journal entry or entries will the buyer record for these transactions?Sales :8,500,000 Purchases : 3,800,000 Include three invoices/receipts that you have obtained for purchases of item that attracts GCT Show the calculation of the GCT on the invoices/receipts
- eBook Show Me How Caloulator Print Item Gross Profit During the current year, merchandise is sold for $366,100 cash and $1,420,000 on account. The cost of the merchandise sold is $1,014,300. what is the amount of the gross profit? Check My Work Email Instructor Save and Exit All work saved. ch %23Using the following information about Sophie's business, answer the following question Credit Month Purchases August 70 000 September 75 000 October 85 000 November 90 000 December 70 000 Accounts payable are paid in full during the month of purchase. What is Estimated Total Cash Payments in October? Select one: a. $70,000 b. $85,000 O c. $90,000 O d. $30,000Jab Less Services Chart of Accounts Jab, Capital Service Income Salary Expense Utilities Expense Give the adjusting entries Prepare a 10-column worksheet Cash Accounts Receivable Equipment Accounts Payable Presented below are the transactions of Jab Less Services. 2017 Sept. 1 Jab invested P125,000 in the business 7 Purchased equipment from X. Co., P35,000 on account 9 Rendered services on account to various customers P75,000 Paid salary for the month P15,000 30 30 Paid utilities for the month P2,300 Additional information: E. Depreciation of equipment is P1,000 b. Doubtful accounts at year end are estimated to be P800 Requirements: Journalize the transactions 34-35 21-25 26-33 Post them to the T-accounts 36-40
- 26-Mr. Salman bought Merchandise Inventory worth OMR 25,000 on credit. Which books of prime entry will record the above transaction? a. Purchase journal b. Cash disbursement journal c. Sales journal d. General journalAcollection of home account receivables 15,000 from branch,the branch recorded O A. credit account receivables 15000 O B. credit home office account 15,000 O c. debit home office 15000 OD. credit cash 15,000started business with 100,000 in cash and 50,000 inventory Received bank loan 500,000 Purchase merchandise 100,000, paid 20,000 in cash and remaining amount will be paid next month Return merchandise to suppliers 5,000 Purchase office supplies 10,000 Paid six month advance rent RS 120,000 Paid salary expense 100,000 Received six month advance fees RS.150,000 Sales merchandise RS 250,000 on account Received from customer 100,000 Return merchandise from customer’s RS. 3,000 Purchase furniture on accounts Adjustment data Salary expense at the end of the year 95,000 Prepaid rent at the end of year 20,000 Unearned fees at the end of year 10,000 Inventory at the end of the year 35,000 Required 1. Pass general entries in standard form 2. Prepare T accounts