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Homework Answers
1. Reduces both assets and liabilities. As payment is made on 4/30/20, so the journal will be
Accounts payable account dr.
To Cash account.
2. ● An income statement is credited for $45000 on 5/15/20
● The journal entry recorded on 8/15/20 cause no change in total asset.
This is because the entry on 8/15/20 will be
Cash account dr.
To Accounts receivable account
● The journal entry recorded on 5/15/20 cause no change in total liabilities.
This is because the entry on 5/15/20 will be
Cash account dr.
Accounts Receivable account dr.
To sales account
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(continued from the previous question) The journal entries...
need 19 answer (continued from the previous question) Which of the following stateme about the journal...
need 19 answer
(continued from the previous question) Which of the following stateme about the journal entries recorded by your company? (select all that apply - i.e. just one or as many as all of them) On 1/1/X1, a contra-asset account is credited As a consequence of the journal entries recorded on 1/1/X1, net assets increase by 82,645 As a consequence of the journal entries recorded on 1/1/X1, net assets increase by 100,000 A contra-asset is credited 12 months after...
please answer and explain jn detail Question 13 (5 points) On 3/1/20, the Larson Company, a...
please answer and explain jn detail
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Another person already answered some of the previous questions on this but I just need help...
Another person already answered some of the previous questions
on this but I just need help with the T- Accounts. If someone can
do that for me, that'd be much appreciated. I put what the
T-Accounts Demo for what it should look like, but it does not have
the right answers for version A. If you need a
guide look at 'Case- Check numbers' and also look at how the other
person answered. Thanks for being helpful!
Accounting 2301 Instructions...
need 19 answer
(continued from the previous question) Which of the following stateme about the journal entries recorded by your company? (select all that apply - i.e. just one or as many as all of them) On 1/1/X1, a contra-asset account is credited As a consequence of the journal entries recorded on 1/1/X1, net assets increase by 82,645 As a consequence of the journal entries recorded on 1/1/X1, net assets increase by 100,000 A contra-asset is credited 12 months after...
please answer and explain jn detail
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12. Under the new method of accounting, service revenues are reported on the income statement in the period in which an agreement is made on cash is received the services are performed 13. A sale is made with credit terms that allow the customer to pay in 30 days. Under the accrual method of accounting the account to be credited at the time of the sale is Accounts Receivable Cash Sales 14. When the company receives the money from its...
Another person already answered some of the previous questions
on this but I just need help with the T- Accounts. If someone can
do that for me, that'd be much appreciated. I put what the
T-Accounts Demo for what it should look like, but it does not have
the right answers for version A. If you need a
guide look at 'Case- Check numbers' and also look at how the other
person answered. Thanks for being helpful!
Accounting 2301 Instructions...
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