Homework Answers
A Sale of merchandise for cash would be recorded in:
a) The Cash Receipts Journal
as cash is received in such a transaction
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MC Qu. 9-26 A sale of merchandise for cash would... 19 A sale of merchandise for cash would be recorded in: 2.5 p...
MC Qu. 9-73 Sepulveda Inc. uses the perpetual... Sepulveda Inc. uses the perpetual inventory system when...
MC Qu. 9-73 Sepulveda Inc. uses the perpetual... Sepulveda Inc. uses the perpetual inventory system when recording its cash payments and cash receipts goods sold and it is received within the discount period, identify the account used to record the discount the company receives a check from a customer for 25 Multiple Choice sales discounts o ) merchandise inventory o o purchases discounts
Multiple Choice Question 66 A company uses a sales journal, cash receipts journal, purchases journal, cash...
Multiple Choice Question 66 A company uses a sales journal, cash receipts journal, purchases journal, cash payments journal, and a general journal. A cash sales return would be recorded in the general journal. O sales journal. O cash receipts journal. O cash payments journal. -
MC Qu. 43 Prohibiting the legal sale of a... Prohibiting the legal sale of a good...
MC Qu. 43 Prohibiting the legal sale of a... Prohibiting the legal sale of a good because of the good's external costs Multiple Choice 3) will never lead to fewer negative consequences of the good's sale and use will always lead to fewer negative consequences of the good's sale and use. O o could lead to more negative consequences of the good's sale and use because of criminal activity. O is never the answer to a good with negative externalities....
TB MC Qu. 12-88 Which one of the following is... Which one of the following is...
TB MC Qu. 12-88 Which one of the following is... Which one of the following is an example of cash flows from operating activities? Multiple Choice Payments to acquire equity securities of other companies. Proceeds from the issuance of bonds and notes payable. 0 Receipts of cash from sales. O Repayment of principals on loans. O Proceeds from collecting the principal amounts of loans. O
Sale journal general journal purchase journal cash payment journal cash receipt journal Wilcox Electronics uses a...
Sale journal
general journal
purchase journal
cash payment journal
cash receipt journal
Wilcox Electronics uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Identify the journal in which each transaction should be recorded. Transaction Journal a. Borrowed cash from the bank b. Purchased shop supplies on credit c. Purchased merchandise for cash d. Sold a building (nonmerchandise) on credit Sold merchandise on credit f. Sold merchandise for cash g. Paid cash for office supplies...
TB MC Qu. 06-137 Clayborn Company deposits... Clayborn Company deposits all cash receipts on the day...
TB MC Qu. 06-137 Clayborn Company deposits... Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on May 31, its Cash account shows a debit balance of $17,025. Clayborn's May bank statement shows $15.800 on deposit in the bank. Determine the adjusted cash balance using the following information: Deposit in transit Outstanding checks Bank service fees, not yet recorded by company A NSF check from...
MC Qu. 9-33 The entry to create a petty cash fund includ... The entry to create...
MC Qu. 9-33 The entry to create a petty cash fund includ... The entry to create a petty cash fund includes: Multiple Choice a debit to Cash and a credit to Petty Cash Fund. a debit to petty cash and a credit to Cash. a debit to Cash and a credit to Miscellaneous Expense. a debit to Petty Cash Fund and a credit to Cash Over and Short.
If there is cash involved in a business transaction, the transaction should be recorded in either...
If there is cash involved in a business transaction, the transaction should be recorded in either the ________. A. sales journal or purchases journal B. cash payments journal or cash receipts journal C. cash payments journal or cash receipts journal and in general journal D. cash payments journal or general journal
MC Qu. 169 Fernwood Company is... Fernwood Company is preparing the company's statement of cash flows...
MC Qu. 169 Fernwood Company is... Fernwood Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 313,000 Cash dividends declared for the year 70,000 Proceeds from the sale of equipment 120,200 Gain on the sale of equipment 6,900 Cash dividends payable at the beginning of the year 30,800 Cash dividends payable at the end of the year 38,000 Net...
Sesion Timeout du/courses/36916/assignments/321836?module_item_id-365246 Below are some typical transactions incurred by Ricketts Company For each transaction, indicate...
Sesion Timeout du/courses/36916/assignments/321836?module_item_id-365246 Below are some typical transactions incurred by Ricketts Company For each transaction, indicate whether it would normally be recorded in a cash receipts Journal, cash payments journal, sales journal, si column purchases journal, or general Journal Journals Transactions 1. Payment of creditors on account. 2. Return of merchandise sold for credit 3. Collection on account from customers 4. Sale of land for cash. 5. Sale of merchandise on account. 6. Sale of merchandise for cash 7. Received...
MC Qu. 9-73 Sepulveda Inc. uses the perpetual... Sepulveda Inc. uses the perpetual inventory system when recording its cash payments and cash receipts goods sold and it is received within the discount period, identify the account used to record the discount the company receives a check from a customer for 25 Multiple Choice sales discounts o ) merchandise inventory o o purchases discounts
Multiple Choice Question 66 A company uses a sales journal, cash receipts journal, purchases journal, cash payments journal, and a general journal. A cash sales return would be recorded in the general journal. O sales journal. O cash receipts journal. O cash payments journal. -
MC Qu. 43 Prohibiting the legal sale of a... Prohibiting the legal sale of a good because of the good's external costs Multiple Choice 3) will never lead to fewer negative consequences of the good's sale and use will always lead to fewer negative consequences of the good's sale and use. O o could lead to more negative consequences of the good's sale and use because of criminal activity. O is never the answer to a good with negative externalities....
TB MC Qu. 12-88 Which one of the following is... Which one of the following is an example of cash flows from operating activities? Multiple Choice Payments to acquire equity securities of other companies. Proceeds from the issuance of bonds and notes payable. 0 Receipts of cash from sales. O Repayment of principals on loans. O Proceeds from collecting the principal amounts of loans. O
Sale journal
general journal
purchase journal
cash payment journal
cash receipt journal
Wilcox Electronics uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Identify the journal in which each transaction should be recorded. Transaction Journal a. Borrowed cash from the bank b. Purchased shop supplies on credit c. Purchased merchandise for cash d. Sold a building (nonmerchandise) on credit Sold merchandise on credit f. Sold merchandise for cash g. Paid cash for office supplies...
TB MC Qu. 06-137 Clayborn Company deposits... Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on May 31, its Cash account shows a debit balance of $17,025. Clayborn's May bank statement shows $15.800 on deposit in the bank. Determine the adjusted cash balance using the following information: Deposit in transit Outstanding checks Bank service fees, not yet recorded by company A NSF check from...
MC Qu. 9-33 The entry to create a petty cash fund includ... The entry to create a petty cash fund includes: Multiple Choice a debit to Cash and a credit to Petty Cash Fund. a debit to petty cash and a credit to Cash. a debit to Cash and a credit to Miscellaneous Expense. a debit to Petty Cash Fund and a credit to Cash Over and Short.
Sesion Timeout du/courses/36916/assignments/321836?module_item_id-365246 Below are some typical transactions incurred by Ricketts Company For each transaction, indicate whether it would normally be recorded in a cash receipts Journal, cash payments journal, sales journal, si column purchases journal, or general Journal Journals Transactions 1. Payment of creditors on account. 2. Return of merchandise sold for credit 3. Collection on account from customers 4. Sale of land for cash. 5. Sale of merchandise on account. 6. Sale of merchandise for cash 7. Received...
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