Geo Inc. had the following account balances on January 1, Year 2: Accounts Payable $ 728 Accounts Receivable 2,300 Cash 2,300 Common Stock 20,000 Equipment 3,100 Note Payable 4,400 Retained Earnings 4,536 Salaries and Wages Expense 4,800 Supplies 1,660Required:Prepare journal entries for each of the following January activities, and post results to the relevant T-accounts. Compute the ending balance of each T-account. Beginning balances have been entered. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)A. Paid $728 on account for utilities that were used during December Year 1.B. Purchased $488 of supplies for cash. C. Signed a rental agreement for office space and paid $6,100 in advance for six months of rent beginning February 1, Year 2.D. Purchased $18,000 of new equipment, signing a promissory note. E. Provided $32,500 of services. $16,000 was received in cash and $16,500 was provided on credit. F. Paid workers $7,400 for work done in January.
Answers: 3
Other questions on the subject: Business
Business, 22.06.2019 05:30, tommyaberman
Sally is buying a home and the closing date is set for april 20th. the annual property taxes are $1,234.00 and have not been paid yet. using actual days, how much will the buyer be credited and the seller be debited
Answers: 2
Business, 22.06.2019 07:40, genyjoannerubiera
Xyz corporation has provided the following data concerning manufacturing overhead for july: actual manufacturing overhead incurred $ 69,000 manufacturing overhead applied to work in process $ 79,000 the company's cost of goods sold was $243,000 prior to closing out its manufacturing overhead account. the company closes out its manufacturing overhead account to cost of goods sold. which of the following statements is true? multiple choice manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000
Answers: 1
Business, 22.06.2019 10:10, cuthbertson157
conquest, inc. produces a special kind of light-weight, recreational vehicle that has a unique design. it allows the company to follow a cost-plus pricing strategy. it has $9,000,000 of average assets, and the desired profit is a 10% return on assets. assume all products produced are sold. additional data are as follows: sales volume 1000 units per year; variable costs $1000 per unit; fixed costs $4,000,000 per year; using the cost-plus pricing approach, what should be the sales price per unit?
Answers: 2
Do you know the correct answer?
Geo Inc. had the following account balances on January 1, Year 2: Accounts Payable $ 728 Accounts Re...
Questions in other subjects:
English, 10.03.2020 07:38
History, 10.03.2020 07:38
