Record the following selected transactions for January in a two‐column journal. Once you have completed that, answer questions 1 – 5 related to your work.
(a) Earned $7,000 fees; customer will pay later.
(b) Purchased equipment for $45,000, paying $20,000 in cash and the remainder on credit
(c) Paid $3,000 for rent for January.
(d) Purchased $2,500 of supplies on account.
(e) A. Allen $1,000 investment in the company.
(f) Received $7,000 in cash for fees earned previously.
(g) Paid $1,200 to creditors on account.
(h) Paid wages of $6,250.
(i) Received $7,150 from customers on account.
(j) A. Allen withdrawal of $1,750.
1. For part (e), which two accounts are affected?
Question 1 options:
Cash and Fees Earned
Cash and Prepaid Insurance
Cash and Allen, Capital
Cash and Accounts Receivable
Answers: 1
Other questions on the subject: Business
Business, 21.06.2019 20:20, AquaNerd5706
Aproduction order quantity problem has a daily demand rate = 10 and a daily production rate = 50. the production order quantity for this problem is approximately 612 units. what is the average inventory for this problem?
Answers: 1
Business, 22.06.2019 06:40, Amber423
As a finance manager at allsports communication, charlie worries about the firm's borrowing requirements for the upcoming year. he knows the benefit of estimating allsports' cash disbursements and short-term investment expectations. facing these concerns, a(n) would provide charlie with valuable information by providing a good estimation of whether the firm will need to do short-term borrowing. capital budget cash budget operating budget line item budget
Answers: 3
Business, 22.06.2019 11:50, CheddaDsk
What is marketing’s contribution to the new product development team? a. technical expertise needed to translate designs into an actual product/service. b. deep customer insight that leads to product ideas. c. ability to assess financial viability d. feedback on design as well as how customers will actually use the product e. technical expertise needed to translate concepts into product/service designs.
Answers: 2
Business, 22.06.2019 14:30, 20guadalupee73248
The face of a company is often that of the lowest paid employees who meet the customers. select one: true false
Answers: 1
Do you know the correct answer?
Record the following selected transactions for January in a two‐column journal. Once you have comple...
Questions in other subjects:
Mathematics, 12.05.2020 23:57
Mathematics, 12.05.2020 23:57
History, 12.05.2020 23:57
Mathematics, 12.05.2020 23:57
