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Accounts Payable had a balance of $18,360 at the beginning of the month. During the month,...
^answes for question ^multiple choice for that question Which of the following statements regarding debits and...
^answes for question
^multiple choice for that question
Which of the following statements regarding debits and credits is always correct? Multiple Choice The total value of all debits to a particular account must equal the total value of all credits to that account. O The total value of all debits recorded in the ledger must equal the total value of all credits recorded in the ledger. Debits decrease accounts while credits increase them. The normal balance for an account is...
The balance in the Wages Payable account was $25,000 at the beginning of the month. Wages...
The balance in the Wages Payable account was $25,000 at the beginning of the month. Wages accrued during the month totaled $54.000 Wages! paid during the month were $63,000. Multiple Choice The balance of the Wages Payable account at the end of the month was $16,000. The balance of the Wages Payable account at the end of the month was $34.000 O Wages expense for the month totaled $63,000. C) Wages expense for the month totaled $79,000.
A company started the year with a normal balance of $75,000 in the Inventory account. During...
A company started the year with a normal balance of $75,000 in the Inventory account. During the year, debits totaling $48,500 and credits totaling $62,000 were posted to the Inventory account. Which of the following statements about the inventory account is correct? Multiple Choice The debits and credits posted to the inventory account caused it to decrease by $13,500. O The normal balance of the Inventory account is a credit balance O Aher these amounts are posted, the balance in...
The accounts payable account has a beginning balance of $10,800 and the company purchased $50,000 of...
The accounts payable account has a beginning balance of $10,800 and the company purchased $50,000 of supplies on account during the month. The ending balance was $19,900. How much did the company pay to creditors during the month? Multiple Choice Ο $69,900 Ο $60,800 Ο $50,000 Ο $40,900
c. W Co. had a $3,000 beginning balance in accounts payable on January 1, Year 8....
c. W Co. had a $3,000 beginning balance in accounts payable on January 1, Year 8. During Year 8. the company incurred $73,000 of operating expenses on account. The ending balance in accounts payable was $8,500. Based on this information alone, determine the amount of cash paid to settle accounts payable. W Co. Accounts Payable Summary Beginning accounts payable balance Plus: Minus: Ending accounts payable balance d. W Co. had a $6,750 beginning balance in accounts payable on January 1...
Accounts Payable had a normal beginning balance of $1.400 During the period, there were debit postings...
Accounts Payable had a normal beginning balance of $1.400 During the period, there were debit postings of $300 and credit postings of $800. What was the ending balance? O A $900 credit OB 5900 debit OC. $1900 debit D. $1.900 cred
1. Company Yhad a beginning inventory on September 1 of $18,000. During the month they had...
1. Company Yhad a beginning inventory on September 1 of $18,000. During the month they had made purchases of $30,000 but returned $2,000 of goods because they were defective. At the end of the month, the inventory on hand was valued at $9,500. What is the cost of goods available for sale? What are the cost of goods sold for the month? 2. When the totals of the sales journal are posted at the end of the month, there will...
At the beginning of the month, supplies were $ 2,500. During the month, $3,500 of supplies...
At the beginning of the month, supplies were $ 2,500. During the month, $3,500 of supplies were purchased. At month's end, 500 of supplies are still on hand. What is the • adjusting entry? •ending balance in the Supplies account? First, prepare the adjusting journal entry for Supplies. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts and Explanations Debit Credit The ending balance in the Supplies account was $ .
Crane Inc. had a beginning balance in accounts receivable of $19,200. During the year, it had...
Crane Inc. had a beginning balance in accounts receivable of $19,200. During the year, it had credit sales of $240,000. Crane received payments on account of $224,000. At the end of the year, accounts receivable has a: Multiple Choice credit balance of $3,200. O debit balance of $3,200. credit balance of $35,200. debit balance of $35,200.
At October 1, 2020, Oriole Co. had an accounts payable balance of $39800. During the month,...
At October 1, 2020, Oriole Co. had an accounts payable balance of $39800. During the month, the company made purchases on account of $33000 and made payments on account of $48100. At October 31, 2020, the accounts payable balance is $41300. O $120900 O $54900. O $24700
^answes for question
^multiple choice for that question
Which of the following statements regarding debits and credits is always correct? Multiple Choice The total value of all debits to a particular account must equal the total value of all credits to that account. O The total value of all debits recorded in the ledger must equal the total value of all credits recorded in the ledger. Debits decrease accounts while credits increase them. The normal balance for an account is...
The balance in the Wages Payable account was $25,000 at the beginning of the month. Wages accrued during the month totaled $54.000 Wages! paid during the month were $63,000. Multiple Choice The balance of the Wages Payable account at the end of the month was $16,000. The balance of the Wages Payable account at the end of the month was $34.000 O Wages expense for the month totaled $63,000. C) Wages expense for the month totaled $79,000.
A company started the year with a normal balance of $75,000 in the Inventory account. During the year, debits totaling $48,500 and credits totaling $62,000 were posted to the Inventory account. Which of the following statements about the inventory account is correct? Multiple Choice The debits and credits posted to the inventory account caused it to decrease by $13,500. O The normal balance of the Inventory account is a credit balance O Aher these amounts are posted, the balance in...
The accounts payable account has a beginning balance of $10,800 and the company purchased $50,000 of supplies on account during the month. The ending balance was $19,900. How much did the company pay to creditors during the month? Multiple Choice Ο $69,900 Ο $60,800 Ο $50,000 Ο $40,900
c. W Co. had a $3,000 beginning balance in accounts payable on January 1, Year 8. During Year 8. the company incurred $73,000 of operating expenses on account. The ending balance in accounts payable was $8,500. Based on this information alone, determine the amount of cash paid to settle accounts payable. W Co. Accounts Payable Summary Beginning accounts payable balance Plus: Minus: Ending accounts payable balance d. W Co. had a $6,750 beginning balance in accounts payable on January 1...
Accounts Payable had a normal beginning balance of $1.400 During the period, there were debit postings of $300 and credit postings of $800. What was the ending balance? O A $900 credit OB 5900 debit OC. $1900 debit D. $1.900 cred
1. Company Yhad a beginning inventory on September 1 of $18,000. During the month they had made purchases of $30,000 but returned $2,000 of goods because they were defective. At the end of the month, the inventory on hand was valued at $9,500. What is the cost of goods available for sale? What are the cost of goods sold for the month? 2. When the totals of the sales journal are posted at the end of the month, there will...
Crane Inc. had a beginning balance in accounts receivable of $19,200. During the year, it had credit sales of $240,000. Crane received payments on account of $224,000. At the end of the year, accounts receivable has a: Multiple Choice credit balance of $3,200. O debit balance of $3,200. credit balance of $35,200. debit balance of $35,200.
At October 1, 2020, Oriole Co. had an accounts payable balance of $39800. During the month, the company made purchases on account of $33000 and made payments on account of $48100. At October 31, 2020, the accounts payable balance is $41300. O $120900 O $54900. O $24700
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