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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...
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....
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. Received an order from a customer for $158,727 at the end of the quarter. The company expects to receive the merchandise from a supplier next month. The customer advanced $31,700 toward the contract price. Select one: O a. Dr. Cash $158,727; Dr. Cost of...
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. Sold merchandise with an original cost of $10,077,924 for $17,636,367 during the quarter. Of the total sales, 50% was for cash and the remainder was on account. Select one: O a. Dr. Cash $8,818,184; Dr. Accounts receivable $8,818,184; Cr. Sales revenue $17,636,367 O b....
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. Dude Duds received $500,000 when the company signed a promissory note with First Bank on Jan 1. Principal and interest on the 5.0% note is due at the end of 12 years. Select one: O a. Cr. Cash $500,000; Cr. Interest expense $25,000; Dr....
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. Obtained and paid building and liability insurance coverage from Northwest Insurance Company. The two-year policy began on Feb 1 and has a premium of $54,000. Select one: O a. No journal entry entry or adjusting entry required O b. Dr. Insurance expense $4,500; Cr....
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. Obtained and paid building and liability insurance coverage from Northwest Insurance Company. The two-year policy began on Feb 1 and has a premium of $54,000. Select one: O a. No journal entry entry or adjusting entry required O b. Dr. Insurance expense $4,500; Cr....
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. Issued 360,000 shares of $1 par value common stock for $2,250,000 on Jan 1. Select one: O a. Debit Common Stock $360,000; Debit APIC $1,890,000; Credit Cash $2,250,000 O b. Debit Cash $2,250,000; Credit Common Stock $360,000; Credit APIC $1,890,000 c. Debit Cash $2,250,000;...
Use the provided partial chart of accounts to prepare the general journal entries in the space...
Use the provided partial chart of accounts to prepare the general journal entries in the space provided below for the following transactions. Chart of Accounts • Cash • Accounts Receivable • Allowance for Doubtful Accounts Notes Receivable • Interest Receivable Office Equipment • Machinery • Accumulated Depreciation • Accounts Payable • Interest Payable Common Stock • Retained Earnings Sales • Interest Revenue • Bad Debt Expense • Depreciation Expense • Insurance Expense • Interest Expense • Gain on Sale of...
Your company uses the Perpetual Inventory system. What is the 4-row journal entry to record...
Your company uses the Perpetual Inventory system. What is the 4-row journal entry to record a cash-based sale? (1) dr. (to record the sale) > Choose... (2) cr. (to record the sale) Choose... (3) dr. (to remove inventory) cr. Sales Revenue dr. Cash (4) cr. (to remove inventory) dr. Cost of Goods Sold cr. Merchandise Inventory Your company uses the Periodic Inve dr. Merchandise Inventory What is the journal entry when a cuscr. Cash purchas dr. Accounts Receivable dr....
Use the Journal Entries (Links to an external site.) for Tiger Inc to answer the following:...
Use the Journal Entries (Links to an external site.) for Tiger
Inc to answer the following:
What is the ending balance of Accounts Receivable?
Group of answer choices
a. 80,000
b. 120,000
c. 50,000
d. 40,000
B D E 1 Tiger Inc. Journal Entries N 3 02/01/2020 DR: Cash A 550,000 4. CR: Stock S 550,000 5 6 02/02/2020 DR: Inventory $ 30,000 7 CR: Cash $ 30,000 8 9 $ 80,000 02/03/2020 DR: Accounts Receivable CR: Revenyue 10 $...
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....
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. Received an order from a customer for $158,727 at the end of the quarter. The company expects to receive the merchandise from a supplier next month. The customer advanced $31,700 toward the contract price. Select one: O a. Dr. Cash $158,727; Dr. Cost of...
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. Sold merchandise with an original cost of $10,077,924 for $17,636,367 during the quarter. Of the total sales, 50% was for cash and the remainder was on account. Select one: O a. Dr. Cash $8,818,184; Dr. Accounts receivable $8,818,184; Cr. Sales revenue $17,636,367 O b....
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. Dude Duds received $500,000 when the company signed a promissory note with First Bank on Jan 1. Principal and interest on the 5.0% note is due at the end of 12 years. Select one: O a. Cr. Cash $500,000; Cr. Interest expense $25,000; Dr....
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. Obtained and paid building and liability insurance coverage from Northwest Insurance Company. The two-year policy began on Feb 1 and has a premium of $54,000. Select one: O a. No journal entry entry or adjusting entry required O b. Dr. Insurance expense $4,500; Cr....
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. Obtained and paid building and liability insurance coverage from Northwest Insurance Company. The two-year policy began on Feb 1 and has a premium of $54,000. Select one: O a. No journal entry entry or adjusting entry required O b. Dr. Insurance expense $4,500; Cr....
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. Issued 360,000 shares of $1 par value common stock for $2,250,000 on Jan 1. Select one: O a. Debit Common Stock $360,000; Debit APIC $1,890,000; Credit Cash $2,250,000 O b. Debit Cash $2,250,000; Credit Common Stock $360,000; Credit APIC $1,890,000 c. Debit Cash $2,250,000;...
Use the provided partial chart of accounts to prepare the general journal entries in the space provided below for the following transactions. Chart of Accounts • Cash • Accounts Receivable • Allowance for Doubtful Accounts Notes Receivable • Interest Receivable Office Equipment • Machinery • Accumulated Depreciation • Accounts Payable • Interest Payable Common Stock • Retained Earnings Sales • Interest Revenue • Bad Debt Expense • Depreciation Expense • Insurance Expense • Interest Expense • Gain on Sale of...
Your company uses the Perpetual Inventory system. What is the 4-row journal entry to record a cash-based sale? (1) dr. (to record the sale) > Choose... (2) cr. (to record the sale) Choose... (3) dr. (to remove inventory) cr. Sales Revenue dr. Cash (4) cr. (to remove inventory) dr. Cost of Goods Sold cr. Merchandise Inventory Your company uses the Periodic Inve dr. Merchandise Inventory What is the journal entry when a cuscr. Cash purchas dr. Accounts Receivable dr....
Use the Journal Entries (Links to an external site.) for Tiger
Inc to answer the following:
What is the ending balance of Accounts Receivable?
Group of answer choices
a. 80,000
b. 120,000
c. 50,000
d. 40,000
B D E 1 Tiger Inc. Journal Entries N 3 02/01/2020 DR: Cash A 550,000 4. CR: Stock S 550,000 5 6 02/02/2020 DR: Inventory $ 30,000 7 CR: Cash $ 30,000 8 9 $ 80,000 02/03/2020 DR: Accounts Receivable CR: Revenyue 10 $...
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