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Accounting
Page 8
Questions (2,354)
Josh & Jake decide to organize a partnership, J&J Landscaping. Josh contributes cash of $4,000, equipment with a cost of $10,000
3 answers
asked anonymously
50 views
How will the customer's bounced checks be handled on a bank reconciliation?
a. add to the balance from the company records b. add
1 answer
asked by
Bill
662 views
Please help me journalize the following entries.
1. On 1 July 2017 the balance of Vehicles at cost amounted to R180 000 and the
1 answer
asked by
Kagiso Relebogile Letlhatlhe
399 views
Given the following balances, the total debits in the trial balance would equal:
Equipment $ 37,000 Accounts Payable 2,000 Sales
1 answer
asked by
Jade
978 views
Journal Entry Help
GST rate 15% MMT Ltd. completed the following transactions and events in the first month of its operation.
2 answers
asked by
Jade
670 views
Purchased inventory on credit from Horn Trading, R34 275.
Deposited cash sales for the first week, R9 000. Inventory is marked up
2 answers
asked by
Andrea
491 views
Schmaltz, Inc. records its allowance for doubtful accounts based on an analysis of receivables. The current, unadjusted balance
1 answer
asked by
Joseph
460 views
Rutta company records its allowance for doubtful accounts based on 1.5% of annual credit sales. if credit sales for the current
1 answer
asked by
Joseph
697 views
Jack Smith, a baker, has been working at his friend’s bakery a part time basis for the past 3 years. As of January 1, 2018,
2 answers
asked by
Kelia Kelly
1,002 views
The entry to record Red’s purchase of 10,000 shares of its common stock at $75.00 per share includes a
A. debit to treasury
1 answer
asked by
tbell4ever
1,164 views
Q2. ABC Ltd. completed the following transactions during April 2018, it’s first month of operation.
Apr. 1 Received $20,000 and
1 answer
asked by
raftar
699 views
Determine the sections of the income statement and give a brief explanation for each section
1 answer
asked by
Ashley
347 views
Prepare general journal entries to record the following transactions for the Harris
Company. (The company uses the balance sheet
1 answer
asked by
george
779 views
The business incurred an expense and paid it immediately. To record this __________.
Question 39 options: an expense is debited
6 answers
asked by
Angela
574 views
The journal entry to record a withdrawal by the owner would most commonly include _________
options: a debit to Wage Expense and
2 answers
asked by
Angela
601 views
A debit increases the balance in all of the following accounts, except __________.
options: cash withdrawals expenses accounts
1 answer
asked by
Angela
709 views
Benson Company
Trial balance June 30, 20xx. Particulars Debit Credit Cash $1,370 Accounts Payable $770 Office Equipment $900
2 answers
asked by
Angela
560 views
The following transactions occurred during June for Campus Cycle Shop. Record the transactions below in the T accounts. Place
1 answer
asked by
Angela
1,310 views
In which account are post-dated checks receivable classified
1 answer
asked by
Ernest P. Morris
357 views
multiple choice_conceptual
Which if the following is not considered cash for financial reporting?
2 answers
asked by
Ernest P. Morris
799 views
what is a ledger used for
1 answer
asked by
kathy
347 views
Della purchased a warehouse on Feb. 25, 2017 for $350,000. $45,000 of the price was for land. What is her cost recovery
2 answers
asked by
Janet
1,066 views
18. What could an expanded version of the accounting equation be?
A. A + Rev = L + OE – Exp B. A – L = Paid-in Capital –
2 answers
asked by
Anonymous
567 views
The ABC Company has a policy to capitalize an asset with a threshold of $5,000 per item or a project/program. The ABC Company
4 answers
asked by
kim
937 views
Can equipment, wages payable, and accumulated depreciation be used to prepare adjusting entries?
1 answer
asked by
Anonymous
325 views
what is the journal entry of cash received from a customer on account was recorded(both debit and credit) as birr 1400 instead
1 answer
asked by
anteneh
783 views
I have 2 question.
If current assets increased, then current liabilities also increase or decrease? And if current liabilities
1 answer
asked by
John
429 views
Prepare a bank reconciliation
- Ending Cash balance per bank P 18,972.67 - Ending Cash balance per book P 16,697.76 - Deposit in
2 answers
asked by
Minnie
878 views
I need to make a bank reconciliation statement. There's an error made by the bank-the check drawn by the corporation was charge
1 answer
asked by
NCTzen
476 views
Partner A deposit $1000 to the bank for the duty to be paid by his other partner. This was a loan given by the partner A.The
1 answer
asked by
### niya ####
395 views
which of the following is not considered a current asset?
> cash > business equipment > notes receivable > office supplies
2 answers
asked by
luisgmi
901 views
1) What does the accounting profession has to offer (besides salary)
2) What are some facts/enticing details about the accounting
1 answer
asked by
Anonymous
415 views
The following are the transaction of s company will in branch for 2(two) year they follow periodic inventory system.
1. Beginning
1 answer
asked by
medu
506 views
Everett Co. was organized on July 1, 2015. Quarterly financial statements are prepared. The unadjusted and adjusted trial
2 answers
asked by
ashley
1,674 views
The Skyline Motel opened for business on May 1, 2015. Its trial balance before adjustment on May 31 is as follows.
SKYLINE MOTEL
3 answers
asked by
ashley
1,693 views
During 2013, Moore Corporation paid $14,000 of dividends. Moore's assets, liabilities, and common stock at the end of 2012 and
2 answers
asked by
Kimberly
534 views
Bank Reconciliation Prepare a bank reconciliation as of October 31 send the following information:
a. October 31 cash balance in
1 answer
asked by
Carla
974 views
Cost flow assumptions for FIFO and LIFO using a periodic system.
Question 1. Sales during the year were 700 units. Beginning
1 answer
asked by
boonie
681 views
Jim Hurley is an accountant for a local manufacturing company. Jim’s good friend, Mike Kotowski, has been operating a retail
1 answer
asked by
Carla
902 views
X has recorded bad debt expense in the past at a rate of 1.5% of accounts receivable, based on an aging analysis. In 2017, X
2 answers
asked by
Tim
739 views
Cash $10,000 Accounts Payable $7,000
Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-term Debt $36,000
1 answer
asked by
Veronica Salas
663 views
Invested $25000 in cash and office equipment that had a fair value of $6000. What is the journal entry for this?
1 answer
asked by
Adoni
486 views
Cupid Co. has total assets of $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of
3 answers
asked by
Anon
456 views
A firm has net income of $2,610 and a tax rate of 33 percent. The revenue is $20,400, costs are 78 percent of sales, and
1 answer
asked by
Anonymous
362 views
On 2015 January 1, Jackson Company purchased equipment for $440,000. The equipment has an estimated useful life of 10 years and
2 answers
asked by
Jala
811 views
Davis Company was started on January 1, 2012. During the month of January, Davis earned $4,600 of revenue and incurred $3,000 of
2 answers
asked by
sammy
607 views
The accrual accounting system is a standard system used by most businesses and is also the system used in the simulation. In
1 answer
asked by
Patte
504 views
Goods return from debtors come in which account debit or credit
1 answer
asked by
Anonymous
300 views
Revenue is traditionally recognized in the accounting records when
A. cash is received. B. services are rendered. C. it’s
1 answer
asked by
Anonymous
874 views
Assume ABC merchandize company purchase merchandize and 680000 on April 2016. A) Record the journal entry. B) Assume ABC
2 answers
asked by
Lidiya Teshome
528 views
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