Homework Answers
| Option C is the answer | ||
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Depreciation on the sales equipment is treated as selling expenses. Depreciation on the office equipment is treated as general overhead. Comment if you face any issues |
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Which of the following is a selling expense? O cost of merchandise sold O depreciation on...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $58,275 on January 1, 2019, and $51,225 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales 451 Sales Returns and Allowances 491 Miscellaneous Income 501 Purchases S02 Freight In 583 Purchases Returns and Allowances 584 Purchases Discounts 611 Salaries Expense-Sales 614 Store...
Selling and administrative expense Depreciation expense Sales Interest expense Cost of goods sold Taxes 312,000 195,000...
Selling and administrative expense Depreciation expense Sales Interest expense Cost of goods sold Taxes 312,000 195,000 1,680,000 121,000 550,000 166,000 Jonas Brothers Cough Drops Income Statement
perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense-Store Equipment, Sales Salaries...
perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense-Store Equipment, Sales Salaries Expense, Rent Expense-Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative. NELSON COMPANY Unadjusted Trial Balance January 31 Credit $ Debit 1,000 12,500 5,800 2,400 42,900 $ 15,250 10,000 5,000 27,000 2,200 111,950 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation-store equipment Accounts payable Common stock Retained earnings Dividends Sales Sales discounts Sales...
Advertising expense $ 28,750 Depreciation expense—Office equipment 8,250 Depreciation expense—Selling equipment 10,300 Depreciation expense—Factory equipment 39,550...
Advertising expense $ 28,750 Depreciation expense—Office equipment 8,250 Depreciation expense—Selling equipment 10,300 Depreciation expense—Factory equipment 39,550 Factory supervision 105,060 Factory supplies used 8,100 Factory utilities 39,300 Direct labor 696,000 Indirect labor 69,800 Miscellaneous production costs 10,225 Office salaries expense 72,900 Raw materials purchases* 937,500 Rent expense—Office space 23,000 Rent expense—Selling space 26,700 Rent expense—Factory building 81,200 Maintenance expense—Factory equipment 44,100 Sales 4,712,500 Sales salaries expense 406,160 *Assume that the raw materials inventory account is used only for direct materials. Indirect...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $59,275 on January 1, 2019, and $52,225 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales $ 246,600 Cr. 451 Sales Returns and Allowances 4,300 Dr. 491 Miscellaneous Income 350 Cr. 501 Purchases 103,100 Dr. 502 Freight In 1,925 Dr. 503 Purchases...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $58,575 on January 1, 2019, and $51,525 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales $ 245,200 Cr. 451 Sales Returns and Allowances 4,230 Dr. 491 Miscellaneous Income 280 Cr. 501 Purchases 102,400 Dr. 502 Freight In 1,855 Dr. 503 Purchases...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise Inventory amounted to $58,375 on January 1, 2019, and $51,325 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales 451 Sales Returns and Allowances 491 Miscellaneous Income 501 Purchases 5e2 Freight In 5e3 Purchases Returns and Allowances 504 Purchases Discounts 611 Salaries Expense-Sales 614 Store...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $58.475 on January 1, 2019, and $51,425 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales $245,000 Cr 4,220 Dr 270 Cr 451 Sales Returns and Allowances 491 Miscellaneous Income s01 Purchases 502 Freight In se3 Purchases Returns and Allowances 584 Purchases...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $59,175 on January 1, 2019, and $52,125 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales 451 Sales Returns and Allowances 491 Miscellaneous Income 501 Purchases 502 Freight In 503 Purchases Returns and Allowances 504 Purchases Discounts 611 Salaries Expense-Sales 614 Store...
Assessment 1: Which of the following is a cost of selling merchandise... Which of the following...
Assessment 1: Which of the following is a cost of selling merchandise... Which of the following is a cost of selling merchandise on account? Multiple Choice o Uncollectible accounts expense ) Determining customers credit worthiness Recording keeping and collection costs All of the answers describe reasons companies accept credit cards from their customers
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $58,275 on January 1, 2019, and $51,225 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales 451 Sales Returns and Allowances 491 Miscellaneous Income 501 Purchases S02 Freight In 583 Purchases Returns and Allowances 584 Purchases Discounts 611 Salaries Expense-Sales 614 Store...
Selling and administrative expense Depreciation expense Sales Interest expense Cost of goods sold Taxes 312,000 195,000 1,680,000 121,000 550,000 166,000 Jonas Brothers Cough Drops Income Statement
perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense-Store Equipment, Sales Salaries Expense, Rent Expense-Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative. NELSON COMPANY Unadjusted Trial Balance January 31 Credit $ Debit 1,000 12,500 5,800 2,400 42,900 $ 15,250 10,000 5,000 27,000 2,200 111,950 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation-store equipment Accounts payable Common stock Retained earnings Dividends Sales Sales discounts Sales...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise Inventory amounted to $58,375 on January 1, 2019, and $51,325 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales 451 Sales Returns and Allowances 491 Miscellaneous Income 501 Purchases 5e2 Freight In 5e3 Purchases Returns and Allowances 504 Purchases Discounts 611 Salaries Expense-Sales 614 Store...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $58.475 on January 1, 2019, and $51,425 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales $245,000 Cr 4,220 Dr 270 Cr 451 Sales Returns and Allowances 491 Miscellaneous Income s01 Purchases 502 Freight In se3 Purchases Returns and Allowances 584 Purchases...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $59,175 on January 1, 2019, and $52,125 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales 451 Sales Returns and Allowances 491 Miscellaneous Income 501 Purchases 502 Freight In 503 Purchases Returns and Allowances 504 Purchases Discounts 611 Salaries Expense-Sales 614 Store...
Assessment 1: Which of the following is a cost of selling merchandise... Which of the following is a cost of selling merchandise on account? Multiple Choice o Uncollectible accounts expense ) Determining customers credit worthiness Recording keeping and collection costs All of the answers describe reasons companies accept credit cards from their customers
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