What is the journal entry for Paid 20,000 for business automobile?
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- What's the journal entry for sold services for $41,400 in cash and $4,600 on credit?Answer. What would be the journal entries for the below transactions 7 (m) The company sold goods to customers on credit in the amount of $10,000 d) The company paid towards its utilities bill $5.00.Assume an employee has a meeting with a potential client. The employee spends P2,500 on airfare, P500 on Uber rides, P3,000 on a hotel, and P1,000 on meals - all charged to their own credit card. After the trip, the employee submits an expense report for the trip. The employer the issues a reimbursement check to the employee. How much is the out-of-pocket cost?
- If a vendor's invoice for the purchase of office supplies totaled $51.75, and this total included $3.60 PST and $3.15 GST, what amount would be recorded in the Office Supplies column of the Purchases Journal?Can you explain how you got the $1,170 on July 31st transaction?Paid $940 for monthly office cleaning. What would be the correct General Ledger Entry?
- A seller sells $800 worth of goods on credit to a customer, with a cost to the seller of $300. Shipping charges are $100. The terms of the sale are 2/10, n/30, FOB Destination. What, if any, journal entry or entries will the seller record for these transactions?Suppose you have a business where you house-sit for people while they are away on vacation. Some of your customers pay you immediately after you finish a job. Some customers ask you to send them a bill. It is now 30th June and you have collected $900 from cash-paying customers. Your remaining customers owe you $1,300. How much service revenue would you have under accrual accounting?An invoice for furniture for $1, 210.88 with terms of 2/10, n/60 is dated October 3. A. What is the last day on which cash discount may be taken? B. If paid within discount period, how much is the cash discount? C. If the discount is missed, on what day does the credit period end?
- How does IRC Section 61 define what is included in Gross Income? Explain and give a good example. If you were walking down the street and found a bag of 10 Euro bills totaling 1,000 Euros, is this considered to be Gross Income? (200 words or more, do nor copy from website)1. How should the $25 Referral Credit be recorded in Runway’s incomestatement?2. When would Runway record the $25 Referral Credit? What are the journalentries Runway would record when the $25 Referral Credit is earned bythe Existing Customer? What are the journal entries Runway would recordwhen the $25 Referral Credit is redeemed against a $100 purchase madeby the Existing Customer?3. Runway is planning to adopt IFRSs in the near future. What is the relevantaccounting guidance it would follow under IFRSs?Cracker & Company sold merchandise to a customer on credit. The sale price was $8,000. What would be the effect of this transaction on the accounting equation? Select the correct option form screenshot.