Prepare the journal entry to record the sale of 2,000 units that cost $8 per unit and
Question:
Prepare the journal entry to record the sale of 2,000 units that cost $8 per unit and sold for $15 per unit.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (2 reviews)
To record the sale of 2000 units we need to make a journal entry that reflects the revenue from the ...View the full answer
Answered By
Ma Kristhia Mae Fuerte
I have extensive tutoring experience, having worked as a private tutor for over three years. I have tutored students from different academic levels, including high school, undergraduate, and graduate levels. My tutoring experience has taught me to be patient, attentive to student needs, and effective in communicating difficult concepts in simple terms.
I have a strong background in statistics, probability theory, data analysis, and data visualization. I am proficient in using statistical software such as R, Python, and SPSS, which are commonly used in academic research and data analysis. Additionally, I have excellent communication and interpersonal skills, which enable me to establish rapport with students, understand their learning styles, and adapt my teaching approach to meet their needs.
I am passionate about teaching and helping students achieve their academic goals.
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 2 Managerial Accounting
ISBN: 9780357364802
1st Edition
Authors: OpenStax
Question Posted:
Students also viewed these Business questions
-
A capital budgeting project is expected to have the following cash flows. The company requires a 10% required rate of return and payback period less than 5 years. Year Cash Flows Cumulative Cash...
-
The accountants for Polyglaze, Inc., have developed the following information regarding the standard cost and the actual cost of a product manufactured in June: Instructions a. Compute the materials...
-
The accountants for Monoglut, Inc., have developed the following information regarding the standard cost and the actual cost of a product manufactured in March: Instructions a. Compute the materials...
-
The Trial Balance and Adjustments columns of the worksheet of Wells Decorating Centre included these accounts and balances at December 31, 2017: Required Wells Decorating Centre uses the perpetual...
-
The following form represents an account taken from the general ledger of Scary Costumes Co.: Answer the following questions: a. What is the title of the account? b. Is this a departmentalized...
-
Comparative balance sheets for Farinet Company for the past two years are as follows: Required 1. Using the format in Example 13-4, prepare common-size comparative balance sheets for the two years...
-
Plaintiff contracted to install a boiler for defendant. After plaintiff had installed and tested the boiler, but before final payment to plaintiff had been made, defendant took custody of the boiler...
-
Payroll Tax Entries the payroll of Delaney Company for September 2010 is as follows. Total payroll was $480,000, of which $140,000 is exempt from Social Security tax because it represented amounts...
-
(1) Write a MATLAB script to find area using the Simpson's 3/8 rule. The code should perform all checks on the number of data points required for application of the rule assuming equally spaced data....
-
Steeler Towel Company estimates its overhead to be $250,000. It expects to have 100,000 direct labor hours costing $2,500,000 in labor and utilizing 12,500 machine hours. Calculate the predetermined...
-
In a process cost system, factory depreciation expense incurred is debited to ________. A. Finished goods inventory B. Work in process inventory C. Manufacturing overhead D. Cost of goods sold
-
What are the various elements required for good test data?
-
The waitress set down a plate of nachos and two pints of beer in front of Stan and his old college buddy, Ron Ebbers. Ever since theyd run into each other at Stans Subway restaurant, the two had...
-
What is computer crime?
-
What are the guidelines for grouping logical activities for a logical DFD?
-
What is business intelligence (BI)?
-
How can an REA model help an organization improve the level of data integration it achieves across multiple business processes?
-
Yum Yum Treats manufactures its own brand of pet chew bones. At the end of December 2016, the accounting records showed the following: Requirements 1. Prepare a schedule of cost of goods manufactured...
-
Willingness to pay as a measure of a person's value for a particular good measures the maximum a person would be willing to pay requires that payment actually be made depends on the satisfaction that...
-
Correct any obvious errors in the following closing entries by providing the four corrected closing entries. Assume all accounts held normal account balances in the Adjusted Trial Balance. A. B. C....
-
Use the following T-accounts to prepare the four journal entries required to close the books: Debit Bal. 23,300 Revenue Earned Bal. 6,000 Cash Commission Expense Bal. 3,200 Credit Supplies Expense...
-
Correct any obvious errors in the following closing entries by providing the four corrected closing entries. Assume all accounts held normal account balances in the Adjusted Trial Balance. A. B. C....
-
What are the implications of mass incarceration and the criminalization of poverty for social cohesion, economic inequality, and intergenerational cycles of disadvantage?
-
Consider the following. Tis the reflection through the origin in R2: T(x, y) = (-x, y), v = (3, 4). (a) Find the standard matrix A for the linear transformation T. A= (b) Use A to find the image of...
-
Write a function to compare two strings for equality. If they are equal, zero is returned, otherwise the difference in value between the first two non-matching characters.
Study smarter with the SolutionInn App