A... Is used to record the cash payments of small expenses within and entity?
Homework Answers
9. The payment of a creditor will decrease the current liabilities of an entity
10.A CASH REGISTER ROLL is used to prepare a cash receipt journal of an entity
11.A PETTY CASH BOOK is used to record the cash payments of small expenses within an entity.
Add Answer to:
A... Is used to record the cash payments of small
expenses within and entity?
nued) The...
please help me with number 9,10,11 and 12 9. The payment of a creditor will ......
please help me with number 9,10,11 and 12
9. The payment of a creditor will ... (1) increase the current liability of the entity (2) increase the non-current liability of the entity. (3) decrease the current liability of the entity, (4) decrease the non-current liability of the entity (5) have no effect on the liabilities of the entity. A... is used to prepare a cash receipts journal of an entity (1) cheque counterfoil (2) cash register roll (3) credit note...
8. To record a partial payment in the payments journal, you must change - a. the...
8. To record a partial payment in the payments journal, you must change - a. the cheque number b. the date of payment c. the invoice number d. the payment amount 9. Transactions entered in the receipts journal will not allow the following - a. payments greater than the invoice amount b. payments less than the invoice amount c. editing of the discount amount d. reversing a previous payment 10. The payments journal may be used for the following -...
The entry to record the return of goods to a creditor would include a: debit to...
The entry to record the return of goods to a creditor would include a: debit to merchandise inventory. credit to merchandise inventory. debit to sales. d. credit to sales. 10. An example of a current liability would be a. accounts payable b. Jalaries payable c. unearned rent d. all of the above T Co. sold $20,000 worth of merchandise and received cash. The sales entry would take place in the: a. cash payments journal. general jourral. sales journal. cash receipts...
I really need help! Assume it is Monday, May 1, the first business day of the...
I
really need help!
Assume it is Monday, May 1, the first business day of the month, and you have just been hired as the accountant for Colo Con which operates with monthly accounting periods. All of the company's accounting work is completed through the end of Apri ledgers show April 30 balances. During your first month on the job, the company experiences the following transactions and (terms for all its credit sales are 2/10, n/30 unless stated differently): We...
Record the following transactions for the month of April 2019 in the cash payments journal. Total,...
Record the following transactions for the month of April 2019 in the cash payments journal. Total, prove, and rule the cash payments journal as of April 30. the a April 1 Issued Check 102 for $800 to pay the monthly rent. 4 Issued Check 103 for $125 to establish a petty cash fund. 5 Issued Check 104 for $350 to remit sales tax to the state tax commission. 8 Issued Check 105 for $594 to Fortune Company, creditor, in payment...
The Bike and Hike Outlet is a retail store. Transactions involving purchases and cash payments for...
The Bike and Hike Outlet is a retail store. Transactions involving purchases and cash payments for the firm during June 2019 are listed below, as are the general ledger accounts used to record these transactions. GENERAL LEDGER ACCOUNTS 101 Cash $ 21,900 Dr. 131 Equipment 66,000 Dr. 201 Notes Payable 205 Accounts Payable 4,980 Cr. 501 Purchases 503 Purchases Ret. and Allow. 504 Purchases Discounts 611 Rent Expense 614 Salaries Expense 617 Telephone Expense DATE TRANSACTIONS June 1 Issued Check...
Sales Order Processing System The customer sales order is received via phone or through the mail. Gus Grinwich, the sales clerk, receives the sales order and checks the customer’s credit record. Once...
Sales Order Processing System The customer sales order is received via phone or through the mail. Gus Grinwich, the sales clerk, receives the sales order and checks the customer’s credit record. Once Grinwich checks the customer’s credit record, he prepares the sales order. From this sales order, Grinwich prepares a customer copy, stock release, shipping notice, two copies of the invoice, ledger copy, packing slip, and the file copy. One of the invoice copies, the ledger copy, and the file...
a. 4. A cash payments journal is used to record: Sales of inventory on account. b....
a. 4. A cash payments journal is used to record: Sales of inventory on account. b. Purchases of inventory on credit. Correcting and adjusting entries. d. Only cash purchases of inventory. All cash paid out including cash purchases of inventory. C.
Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following items for the year:...
Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following items for the year: Depreciation expense $46,000 26,830 Gain on disposal of equipment 287,600 Net income The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $7,160 (4,080) Inventory Prepaid insurance (1,530) (4,860) Accounts payable Income taxes payable 1,530 Dividends payable 1,070 a. Prepare the "Cash flows from operating activities" section of the statement of cash flows, using the...
Please help... Purchases Journal, Cash Payments Journal, and General Journal Freddy Flint owns a small retail...
Please help... Purchases Journal, Cash Payments Journal, and General Journal Freddy Flint owns a small retail business called Flint's Fantasy. The cash account has a balance of $30,000 on July 1. The following transactions occurred during July: July 1 Issued Check No. 414 in payment of July rent, $1,690. 1 Purchased merchandise on account from Tang's Toys, Invoice No. 311, $2,900, terms 2/10, n/30. 3 Purchased merchandise on account from Sillas & Company, Invoice No. 812, $3,000, terms 1/10, n/30....
please help me with number 9,10,11 and 12
9. The payment of a creditor will ... (1) increase the current liability of the entity (2) increase the non-current liability of the entity. (3) decrease the current liability of the entity, (4) decrease the non-current liability of the entity (5) have no effect on the liabilities of the entity. A... is used to prepare a cash receipts journal of an entity (1) cheque counterfoil (2) cash register roll (3) credit note...
8. To record a partial payment in the payments journal, you must change - a. the cheque number b. the date of payment c. the invoice number d. the payment amount 9. Transactions entered in the receipts journal will not allow the following - a. payments greater than the invoice amount b. payments less than the invoice amount c. editing of the discount amount d. reversing a previous payment 10. The payments journal may be used for the following -...
The entry to record the return of goods to a creditor would include a: debit to merchandise inventory. credit to merchandise inventory. debit to sales. d. credit to sales. 10. An example of a current liability would be a. accounts payable b. Jalaries payable c. unearned rent d. all of the above T Co. sold $20,000 worth of merchandise and received cash. The sales entry would take place in the: a. cash payments journal. general jourral. sales journal. cash receipts...
I
really need help!
Assume it is Monday, May 1, the first business day of the month, and you have just been hired as the accountant for Colo Con which operates with monthly accounting periods. All of the company's accounting work is completed through the end of Apri ledgers show April 30 balances. During your first month on the job, the company experiences the following transactions and (terms for all its credit sales are 2/10, n/30 unless stated differently): We...
Record the following transactions for the month of April 2019 in the cash payments journal. Total, prove, and rule the cash payments journal as of April 30. the a April 1 Issued Check 102 for $800 to pay the monthly rent. 4 Issued Check 103 for $125 to establish a petty cash fund. 5 Issued Check 104 for $350 to remit sales tax to the state tax commission. 8 Issued Check 105 for $594 to Fortune Company, creditor, in payment...
a. 4. A cash payments journal is used to record: Sales of inventory on account. b. Purchases of inventory on credit. Correcting and adjusting entries. d. Only cash purchases of inventory. All cash paid out including cash purchases of inventory. C.
Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following items for the year: Depreciation expense $46,000 26,830 Gain on disposal of equipment 287,600 Net income The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $7,160 (4,080) Inventory Prepaid insurance (1,530) (4,860) Accounts payable Income taxes payable 1,530 Dividends payable 1,070 a. Prepare the "Cash flows from operating activities" section of the statement of cash flows, using the...
Most questions answered within 3 hours.
-
Two concentric current loops lie in the same plane. The smaller
loop has a radius of...
asked 5 minutes ago -
1)Which of the following is an
important difference between qualified and nonqualified retirement
plans?
a. Qualified...
asked 17 minutes ago -
What's the streaming business's problem on the
horizon?
asked 1 hour ago -
I need help with writing the conclusion for this online lab
report
Abstract
By testing the...
asked 1 hour ago -
For the reaction 1N2+3H2-----> 2NH3, would the reaction rate
trend be: delta[NH3]/ delta t = -2...
asked 2 hours ago -
Within your current/past organization, identify a problem/issue
and format a design to address same. You may...
asked 1 hour ago -
A sock stuck to the side of a clothes-dryer barrel has a
centripetal acceleration of 24...
asked 2 hours ago -
A perfect gas undergoes an isentropic process such that its
volume doubles. If the ratio of...
asked 3 hours ago -
list the elements in groups 3A to 6A in the same order as in the
periodic...
asked 3 hours ago -
Estimating effect size. Peng and Chen (2014)
evaluated effect size estimates for various tests. In their...
asked 3 hours ago -
Write a script in MySQL that creates and calls a stored
procedure name test. This procedure...
asked 3 hours ago -
If we test the following: H0: μ = 17
vs. H1: μ ≠ 17 and the...
asked 3 hours ago