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Exercise#8-PREPAID EXPENSES: University Laundromat purchased $6,500 worth of laundry supplies on June 2, 2018 and recorded...
23. Dreamtime Laundry purchased $7,000 worth of supplies on June 2 and recorded the purchase as...
23. Dreamtime Laundry purchased $7,000 worth of supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the supplies indicated only $1,000 on hand. The adjusting entry that should be made by the company on June 30 is A) Debit Supplies Expense. $6,000; Credit Supplies, $6,000. B) Debit Supplies, $6,000: Credit Supplies Expense, $6,000. C) Debit Supplies Expense, $1,000; Credit Supplies, $1,000, D) Debit Supplies, $1,000; Credit Supplies Expense, $1,000.
1 Durawash Laundry purchased $8,000 worth of supplies on June 2 and recorded the purchase as...
1 Durawash Laundry purchased $8,000 worth of supplies on June 2 and recorded the purchase as an asset on June 30, an inventory of the supplies indicated only $3,000 on hand. The adjusting entry that should be made by the company on June 30 i (LO 2) Seleccione una a Debit Supplies Expense, $3,000, Credit Supplies, 83,000 b. Debit Supplies, $5.000, Credit Supplies Expense, $5,000 c. Debit Supplies Expense,55,000 Credit Supplies, $5.000 d. Debit Supplies, $3.000; Credit Supplies Expense. $3,000
The Tkiban Company purchased 539,000 worth of supplies on June 2 and recorded the purchase as...
The Tkiban Company purchased 539,000 worth of supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the supplies indicated only $6,000 on hand. The adjusting entry that should be made by the company on June 30 is: a. debit Supplies, $6,000; credit Supplies Expense, S6,000. b. debit Supplies, $33,000 credit Supplies Expense, $33,000. debit Supplies Expense, S6,000, credit Supplies, $6,000. d. debit Supplies Expense, $33,000; credit Supplies, $33,000. e. None of the...
The Nash's Trading Post, LLC purchased $6290 worth of laundry supplies on June 2 and recorded...
The Nash's Trading Post, LLC purchased $6290 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $1110 on hand. The adjustment that should be made by the company on June 30 is: increase Supplies, $1110; decrease Supplies Expense, $1110. increase Supplies Expense, $1110; decrease Supplies, $1110. increase Supplies Expense, $5180; decrease Supplies, $5180. increase Supplies, $5180; decrease Supplies Expense, $5180.
Please help! Exercise 10! Exercise#10-PREPAID EXPENSES: Darting Inc. P on January 1, 2018. The user Instructions:...
Please help! Exercise 10!
Exercise#10-PREPAID EXPENSES: Darting Inc. P on January 1, 2018. The user Instructions: A. Record the journal entry for the B. What is the adjusting entry to uary 1, 2018. The useful life of the computer system is 5 years ENSES: Darting Inc. purchased a computer system for $7,200 une journal entry for the purchase of the asset - Equipment - Computer. the adjusting entry to record the January 31 monthly depreciation expense using the straight-line method...
Entity K purchased $7,500 worth of office supplies on June 2 and recorded the purchase as...
Entity K purchased $7,500 worth of office supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of supplies indicated only $1,500 on hand. The adjusting entry that should be made by the company on June 30 is: r. Supplies 6,000 Cr. Supplies Expense 6,000. Dr. Supplies 1,500; Cr. Supplies Expense 1,500. Dr. Supplies Expense 1,500 Cr. Supplies 1,500. Dr. Supplies Expense 6,000; Cr. Supplies 6
Exercise 13-05 During the month of June, Teal Boutique recorded cash sales of $248,850 and credit...
Exercise 13-05
During the month of June, Teal Boutique recorded cash sales of
$248,850 and credit sales of $179,655, both of which include the 5%
sales tax that must be remitted to the state by July 15.
Prepare the adjusting entry that should be recorded to fairly
present the June 30 financial statements. (If no entry
is required, select "No Entry" for the account titles and enter 0
for the amounts. Credit account titles are automatically indented
when amount is...
Record the following transactions for Red Wood Trails in a general journal. June 3 Purchased $3,985...
Record the following transactions for Red Wood Trails in a general journal. June 3 Purchased $3,985 of merchandise on account from JVC Co. Purchased $2,300 of merchandise on account from Prime Target and Co. Credit terms 2/10, n/30. 9 12 Purchased $675 of store supplies on account from Craft Shop. 13 Paid for June 3 purchase of merchandise from JVC Co. Paid for June 9 purchase of merchandise from Prime Target and Co. 19 If an amount box does not...
June 4 Sandhill Company purchased $9,200 worth of merchandise, terms n/30 from Hayes Company. The cost...
June 4 Sandhill Company purchased $9,200 worth of merchandise, terms n/30 from Hayes Company. The cost of the merchandise was $7,000. 12 Sandhill returned $510 worth of goods to Hayes for full credit. The goods had a cost of $350 to Hayes. 12 Sandhill paid the account in full. Assume use of the perpetual inventory system for both companies. Prepare the journal entries to record these transactions in Sandhill’s books. (Credit account titles are automatically indented when the amount is...
The unadjusted trial balance of Epicenter Laundry at June 30, 2019, the end of the fiscal...
The unadjusted trial balance of Epicenter Laundry at June 30, 2019, the end of the fiscal year, follows: Epicenter Laundry UNADJUSTED TRIAL BALANCE June 30, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 11,000.00 2 Laundry Supplies 21,500.00 3 Prepaid Insurance 9,600.00 4 Laundry Equipment 232,600.00 5 Accumulated Depreciation 125,400.00 6 Accounts Payable 11,800.00 7 Sophie Perez, Capital 105,600.00 8 Sophie Perez, Drawing 10,000.00 9 Laundry Revenue 232,200.00 10 Wages Expense 125,200.00 11 Rent Expense 40,000.00 12 Utilities Expense 19,700.00 13...
23. Dreamtime Laundry purchased $7,000 worth of supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the supplies indicated only $1,000 on hand. The adjusting entry that should be made by the company on June 30 is A) Debit Supplies Expense. $6,000; Credit Supplies, $6,000. B) Debit Supplies, $6,000: Credit Supplies Expense, $6,000. C) Debit Supplies Expense, $1,000; Credit Supplies, $1,000, D) Debit Supplies, $1,000; Credit Supplies Expense, $1,000.
1 Durawash Laundry purchased $8,000 worth of supplies on June 2 and recorded the purchase as an asset on June 30, an inventory of the supplies indicated only $3,000 on hand. The adjusting entry that should be made by the company on June 30 i (LO 2) Seleccione una a Debit Supplies Expense, $3,000, Credit Supplies, 83,000 b. Debit Supplies, $5.000, Credit Supplies Expense, $5,000 c. Debit Supplies Expense,55,000 Credit Supplies, $5.000 d. Debit Supplies, $3.000; Credit Supplies Expense. $3,000
The Tkiban Company purchased 539,000 worth of supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the supplies indicated only $6,000 on hand. The adjusting entry that should be made by the company on June 30 is: a. debit Supplies, $6,000; credit Supplies Expense, S6,000. b. debit Supplies, $33,000 credit Supplies Expense, $33,000. debit Supplies Expense, S6,000, credit Supplies, $6,000. d. debit Supplies Expense, $33,000; credit Supplies, $33,000. e. None of the...
The Nash's Trading Post, LLC purchased $6290 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $1110 on hand. The adjustment that should be made by the company on June 30 is: increase Supplies, $1110; decrease Supplies Expense, $1110. increase Supplies Expense, $1110; decrease Supplies, $1110. increase Supplies Expense, $5180; decrease Supplies, $5180. increase Supplies, $5180; decrease Supplies Expense, $5180.
Please help! Exercise 10!
Exercise#10-PREPAID EXPENSES: Darting Inc. P on January 1, 2018. The user Instructions: A. Record the journal entry for the B. What is the adjusting entry to uary 1, 2018. The useful life of the computer system is 5 years ENSES: Darting Inc. purchased a computer system for $7,200 une journal entry for the purchase of the asset - Equipment - Computer. the adjusting entry to record the January 31 monthly depreciation expense using the straight-line method...
Exercise 13-05
During the month of June, Teal Boutique recorded cash sales of
$248,850 and credit sales of $179,655, both of which include the 5%
sales tax that must be remitted to the state by July 15.
Prepare the adjusting entry that should be recorded to fairly
present the June 30 financial statements. (If no entry
is required, select "No Entry" for the account titles and enter 0
for the amounts. Credit account titles are automatically indented
when amount is...
Record the following transactions for Red Wood Trails in a general journal. June 3 Purchased $3,985 of merchandise on account from JVC Co. Purchased $2,300 of merchandise on account from Prime Target and Co. Credit terms 2/10, n/30. 9 12 Purchased $675 of store supplies on account from Craft Shop. 13 Paid for June 3 purchase of merchandise from JVC Co. Paid for June 9 purchase of merchandise from Prime Target and Co. 19 If an amount box does not...
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