Business, 21.02.2020 16:23 sebascarvallo2003

Some entries require no entry.

#5: 12/23/13: Receive goods from a purchase order: Received merchandise from Velocity Sporting Goods as listed on purchase order No. 328 along with invoice #34719. The payment terms on the invoice are 2/10, Net 30. All merchandise listed on the purchase order was delivered in good condition and in the quantities ordered, except that only 100/115 basketball pole pads were received. The total of the invoice is $18,340. The goods were placed immediately in the inventory warehouse.

#6: 12/23/13: Collect an outstanding account receivable and make a bank deposit: Received check No. 28564 for $1,622.88, from Branch College for payment in full of sales invoice No. 730, and deposited the check. The early payment discount taken by Branch College was $33.12.

#7 12/23/13: Write off an uncollectible account receivable: Received legal notification from Benson, Rosenbrook, and Martinson, P. C., attorneys at law, that Stevenson College is unable to pay any of its outstanding debts to its suppliers. The $2,900 balance remaining on invoice #719 should therefore be written off as uncollectible. Recall that Waren uses the allowance method for recording bad debt expense.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 14:40

Jansen company borrowed $12,000 on a 1-year, 5 percent note payable from the local bank on april 1. interest was paid quarterly, and the note was repaid one year from the time the money was borrowed. calculate the amount of cash payments jansen was required to make in each of the two calendar years that were affected by the note payable.

Answers: 2

Answer

Business, 21.06.2019 16:20

Winston uses the high-low method. it had an average cost per unit of $10 at its lowest level of activity when sales equaled 10,000 units and an average cost per unit of $6.50 at its highest level of activity when sales equaled 20,000 units. what would winston estimate its total cost to be if sales equaled 8,000 units?

Answers: 3

Answer

Business, 22.06.2019 10:00

Carrie works at a canned food production factory. the government wanted to give a boost to the salt industry, so it lined up numerous subsidies and tax exemptions for the sector. this lead to a decrease in production costs. this also meant that consumers could access canned foods at a lower price, which lead to an increase in demand for the product. which kind of economic system is carrie’s company dealing with? carrie’s company is dealing with a/an economy.

Answers: 2

Answer

Business, 22.06.2019 19:30

He moto hotel opened for business on may 1, 2017. here is its trial balance before adjustment on may 31. moto hotel trial balance may 31, 2017 debit credit cash $ 2,283 supplies 2,600 prepaid insurance 1,800 land 14,783 buildings 72,400 equipment 16,800 accounts payable $ 4,483 unearned rent revenue 3,300 mortgage payable 38,400 common stock 59,783 rent revenue 9,000 salaries and wages expense 3,000 utilities expense 800 advertising expense 500 $114,966 $114,966 other data: 1. insurance expires at the rate of $360 per month. 2. a count of supplies shows $1,050 of unused supplies on may 31. 3. (a) annual depreciation is $2,760 on the building. (b) annual depreciation is $2,160 on equipment. 4. the mortgage interest rate is 5%. (the mortgage was taken out on may 1.) 5. unearned rent of $2,580 has been earned. 6. salaries of $810 are accrued and unpaid at may 31

Answers: 2

Answer

You know the right answer?

Some entries require no entry.

#5: 12/23/13: Receive goods from a purchase order: Receiv...

Questions