Homework Answers
Expenses should be debited and cash paid should be credited. All the debits should be at one place and all the credit should be at one place while recording the journal entry. The total of the debits should be equal to the total of the credits.
3rd option
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Which of the following journal entries is recorded correctly and in the basic format? 640 Salaries...
Which of the following journal entries is recorded correctly and in the basic format? 620 Salaries...
Which of the following journal entries is recorded correctly and in the basic format? 620 Salaries and Wages Expense Advertising Expense Cash 1060 1680 620 Salaries and Wages Expense Advertising Expense Cash 1060 1780 620 Salaries and Wages Expense Cash Advertising Expense 1680 1060 1680 Cash Salaries and Wages Expense Advertising Expense 620 1060
Multiple Choice Question 176 Which of the following journal entries is recorded correctly and in the...
Multiple Choice Question 176 Which of the following journal entries is recorded correctly and in the basic format? Salaries and Wages Expense Advertising Expense Cash 480 840 1320 Cash 1320 Salaries and Wages Expense Advertising Expense 480 840 Salaries and Wages Expense Advertising Expense Cash 480 840 1420 480 Salaries and Wages Expense Cash Advertising Expense 1320 840
which of the following journal entries is recorded correctly and in the standard firmat? Sun, Feb...
which of the following journal entries is recorded correctly and in
the standard firmat?
Sun, Feb 9, 2020, Question 13 View Policies Current Attempt in Progress Which of the following statements is false? oport Revenues have normal credit balances. Revenues are increased by debits. Revenues are a positive factor in the computation of net income. Revenues increase stockholders' equity. Save for Later Synced Sun, Feb 9. 2020, 3:39:43P - Previous to search DELL
Question No. (9) (1 minute): Maso Company recorded journal entries for the following: Issuance of ordinary...
Question No. (9) (1 minute): Maso Company recorded journal entries for the following: Issuance of ordinary shares for $40,000 cash • Payment cash of $13,000 to the accounts payable • Payment of salaries expense cash of $21,000 • Providing services of $8,000 on account · Collection cash of $7,000 from the Accounts Receivable What NET effect do these entries have on Equity? Show your calculations
nstructions Journal The following errors took place in journalizing and posting transactions: Journalize the entries on...
nstructions Journal The following errors took place in journalizing and posting transactions: Journalize the entries on December 31 to correct the errors. Use two entries to correct the error described in A. (That is, record an entry to reverse the incorrect entry and a second entry to record the corre a. Insurance of $18,000 paid for the current year was recorded as a debit to Insurance Expense and a credit wording of account titles. to Prepaid Insurance b. Dividends of...
Which of the following journal entries is correct when a business entity pays cash for advertising...
Which of the following journal entries is correct when a business entity pays cash for advertising to be used next year? Multiple Choice Cash xxx Advertising expense xxx Advertising expense xxx Cash xxx Cash xxx Prepaid advertising expense xxx Prepaid advertising expense xxx Cash xxx
Prepare the adjusting journal entries for the following transactions. (If no entry is required for a...
Prepare the adjusting journal entries for the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1. Supplies for office use were purchased during the year for $640, of which $170 remained on hand (unused) at year-end. 2. Interest of $320 on a note receivable was earned at year-end, although collection of the interest is not due until the following year. 3. At year-end, salaries and wages payable of...
construct T-accounts adjusting entries post adjusting journal entries to the t-accounts, closiing entries, post closung entries...
construct T-accounts
adjusting entries
post adjusting journal entries to the t-accounts, closiing
entries, post closung entries
Presented below is the December 31 trial balance of Sunland Boutique. SUNLAND BOUTIQUE TRIAL BALANCE DECEMBER 31 Debit Credit Cash $20,100 Accounts Receivable 39,800 Allowance for Doubtful Accounts $717 Inventory, December 31 80,410 Prepaid Insurance 5,350 Equipment 91,000 Accumulated Depreciation-Equipment 35,600 Notes Payable 27,530 Common Stock 74,607 Retained Earnings 10,990 Sales Revenue 705,086 Cost of Goods Sold 476,900 Salaries and Wages Expense (sales) 61,200...
Dude Duds, Inc. is a clothing retailer specializing in affordable family apparel. Prepare journal entries and...
Dude Duds, Inc. is a clothing retailer specializing in affordable family apparel. Prepare journal entries and related adjusting entries (if any) for the transaction below for the first quarter ending March 31 of the current year. Employees earned $2,779,283 in salaries and wages during this quarter, of which the company paid $2,084,462. Select one: O a. Dr. Salaries and wages expense $2,779,283; Cr. Cash $2,084,462; Cr. Salaries and wages payable $694,821 O b. Dr. Salaries and wages expense $2,779,283; Cr....
All journal entries have been recorded correctly. However on journal C the credit info is incorrect....
All journal entries have been recorded correctly. However on
journal C the credit info is incorrect. It is either cash nor
accounts payable. what would the credit entry be?
Given this info, is the manufacturing overhead underapplied or
overapplied for the year?
record the above journal entry
prepare an income statement
Problem 3-16 Comprehensive Problem (LO3-1, LO3-2, LO3-4) Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its...
Which of the following journal entries is recorded correctly and in the basic format? 620 Salaries and Wages Expense Advertising Expense Cash 1060 1680 620 Salaries and Wages Expense Advertising Expense Cash 1060 1780 620 Salaries and Wages Expense Cash Advertising Expense 1680 1060 1680 Cash Salaries and Wages Expense Advertising Expense 620 1060
Multiple Choice Question 176 Which of the following journal entries is recorded correctly and in the basic format? Salaries and Wages Expense Advertising Expense Cash 480 840 1320 Cash 1320 Salaries and Wages Expense Advertising Expense 480 840 Salaries and Wages Expense Advertising Expense Cash 480 840 1420 480 Salaries and Wages Expense Cash Advertising Expense 1320 840
which of the following journal entries is recorded correctly and in
the standard firmat?
Sun, Feb 9, 2020, Question 13 View Policies Current Attempt in Progress Which of the following statements is false? oport Revenues have normal credit balances. Revenues are increased by debits. Revenues are a positive factor in the computation of net income. Revenues increase stockholders' equity. Save for Later Synced Sun, Feb 9. 2020, 3:39:43P - Previous to search DELL
Question No. (9) (1 minute): Maso Company recorded journal entries for the following: Issuance of ordinary shares for $40,000 cash • Payment cash of $13,000 to the accounts payable • Payment of salaries expense cash of $21,000 • Providing services of $8,000 on account · Collection cash of $7,000 from the Accounts Receivable What NET effect do these entries have on Equity? Show your calculations
nstructions Journal The following errors took place in journalizing and posting transactions: Journalize the entries on December 31 to correct the errors. Use two entries to correct the error described in A. (That is, record an entry to reverse the incorrect entry and a second entry to record the corre a. Insurance of $18,000 paid for the current year was recorded as a debit to Insurance Expense and a credit wording of account titles. to Prepaid Insurance b. Dividends of...
Prepare the adjusting journal entries for the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1. Supplies for office use were purchased during the year for $640, of which $170 remained on hand (unused) at year-end. 2. Interest of $320 on a note receivable was earned at year-end, although collection of the interest is not due until the following year. 3. At year-end, salaries and wages payable of...
construct T-accounts
adjusting entries
post adjusting journal entries to the t-accounts, closiing
entries, post closung entries
Presented below is the December 31 trial balance of Sunland Boutique. SUNLAND BOUTIQUE TRIAL BALANCE DECEMBER 31 Debit Credit Cash $20,100 Accounts Receivable 39,800 Allowance for Doubtful Accounts $717 Inventory, December 31 80,410 Prepaid Insurance 5,350 Equipment 91,000 Accumulated Depreciation-Equipment 35,600 Notes Payable 27,530 Common Stock 74,607 Retained Earnings 10,990 Sales Revenue 705,086 Cost of Goods Sold 476,900 Salaries and Wages Expense (sales) 61,200...
Dude Duds, Inc. is a clothing retailer specializing in affordable family apparel. Prepare journal entries and related adjusting entries (if any) for the transaction below for the first quarter ending March 31 of the current year. Employees earned $2,779,283 in salaries and wages during this quarter, of which the company paid $2,084,462. Select one: O a. Dr. Salaries and wages expense $2,779,283; Cr. Cash $2,084,462; Cr. Salaries and wages payable $694,821 O b. Dr. Salaries and wages expense $2,779,283; Cr....
All journal entries have been recorded correctly. However on
journal C the credit info is incorrect. It is either cash nor
accounts payable. what would the credit entry be?
Given this info, is the manufacturing overhead underapplied or
overapplied for the year?
record the above journal entry
prepare an income statement
Problem 3-16 Comprehensive Problem (LO3-1, LO3-2, LO3-4) Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its...
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