Perfect Print purchased supplies worth $8,500 on January 1. By December 31, they had $2,300 worth of supplies remaining. Calculate the supplies expense for the year. Accurate Answer
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Perfect Print purchased supplies worth $8,500 on January 1. By December 31, they had $2,300 worth of supplies remaining. Calculate the supplies expense for the year. Accurate Answer
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- ant Sheldon Company began Year 1 with $2,400 in its supplies account. During the year, the company purchased $7,100 of supplies on account. The company paid $3,300 on accounts payable by year end. At the end of Year 1, Sheldon counted $4,300 of supplies on hand. Sheldon's financial statements for Year 1 would show: Multiple Choice $6,200 of supplies; $1,900 of supplies expense $4,300 of supplies; $2,800 of supplies expense $4,300 of supplies; $5,200 of supplies expense $6,200 of supplies; $7,100 of supplies expenseView the data below and then answer the question below: Company Name: WaitRose Sales - $2,100 (20% cash, 80% credit) Inventory - $750 Depreciation - $1,500 Plant & Equipment - $2,000 Accounts Receivable - $225 Notes Payable - $165 Question: What is the average collection period for the year for Waitrose? (show your work and explain)can uou help wit the worksheet in the picture wit the given information The fiscal period is one month. Merchandise Inventory at November 30 is $265 000. Supplies on hand November 30 are valued at $11 400. Equipment depreciation is 25 percent per year, using the declining-balance method. Round off the depreciation to the nearest dollar. $450 interest is owed on the bank loan. $1300 is owed to employees.
- Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the month of purchase with the remaining balance paid the month after purchase. Prepare a cash payment schedule for January using this data: in December through February, it purchased $22,000, $25,000, and $23,000 respectively.Please see the QuestionPolar Company purchased a Truck for the company use. The price was $48,000 plus 7% sales taxes. Company paid $5,000 in cash and signed a 4.75% note that requires 40 equal monthly payment at the end of each month for the rest. Provide answer to the following question on the Tab named Financial Accounting on the Excel file. Requirement: a) Provide the journal entry that must be made on the purchase date of truck. b) Determine the amount of monthly payment that must be made. c) Prepare Amortization Schedule. d) Provide the journal entry that company must make the for 2nd monthly payment. e) Provide the journal entry that company must make on the last monthly payment. Problem 5. Excel Sheet Formatting for Data Entry Elizabet wants to use the Excel Sheet in Tab called “Formatting” for compiling and recording company sales. You have been asked to help her in formatting the sheet in order (a) to reduce the chance of errors in typing, and (b) speedup data entry. Elizabet only will be typing…
- Levchenko Company purchased inventories from a vendor for $16,000 on July 1. The purchase was financed through a $10,000 note with the remainder paid in cash. The vendor charged an additional $400 for shipping, on account. Levchenko paid a moving company $700 cash to move the inventory to a different warehouse. Interest on the note totaled $50, payable in August. a. Determine the cost to be assigned to the inventory. $ b. Record the transactions using the financial statement effects template. Note: Use negative signs with your answers, when appropriate. Select "N/A" as your answer if a part of the accounting equation is not affected. Transaction a. Inventory purchase b. Shipping charge c. Moving cost d. Interest incurred Totals Cash Asset ♦ ◆ ◆ ◆ 0 + Noncash Asset ◆ ◆ ◆ ◆ 0 Balance Sheet Liabilities ◆ ◆ ◆ 0 Contributed + Capital + Earned Capital ♦ ◆ ♦ ♦ 0 Revenues Income Statement Expenses ◆ ◆ ◆ 0 Net = Income 0What was criques cost of goods sold for the year?15. Callarman Company began operations on January 1 and has projected the following selling and administrative expenses: (Click on the icon to view the selling and administrative expenses.) Determine the cash payments for selling and administrative expenses for the first three months of operations. (Complete all answer boxes. Enter a "0" for zero amounts.) Rent Expense Utilities Expense Depreciation Expense Insurance Expense Total cash payments for selling and administrative expenses Data tables January February March Rent Expense Utilities Expense Depreciation Expense Insurance Expense $1,400 per month, paid as incurred 800 per month, paid in month after incurred 1,000 per month 50 per month, 9 months prepaid on January 1 Print Done
