Please show which ones are the correct answer, No need for an explanation, thanks The company paid
Fantastic news! We've Found the answer you've been seeking!
Question:
Please show which ones are the correct answer, No need for an explanation, thanks
Transcribed Image Text:
The company paid $2,000 Example on its bank loan, which included $150 of interest. 1 2 3 4 5 6 7 8 The company borrowed $250,000 from the bank. The company purchased a building for a total of $150,000 by issuing common shares. The company paid $2,400 for a one-year insurance policy for the building. Purchased $200,000 inventory on account. The cost of the inventory that was sold to customers was $142,000. Customers paid $5,000 in advance for goods that will be delivered later. Paid $75,000 on account due to suppliers [from #4]. The board of directors declared dividends of $2,000 in December, to be paid in January. Bank Loan Payable Interest Expense Cash Cash Prepaid Insurance Inventory Cost of Goods Sold Cash Accounts Payable Dividends Declared Cash Bank Loan Payable Common Shares Cash Accounts Payable Inventory Sales Revenue Cash Dividends Payable The company paid $2,000 Example on its bank loan, which included $150 of interest. 1 2 3 4 5 6 7 8 The company borrowed $250,000 from the bank. The company purchased a building for a total of $150,000 by issuing common shares. The company paid $2,400 for a one-year insurance policy for the building. Purchased $200,000 inventory on account. The cost of the inventory that was sold to customers was $142,000. Customers paid $5,000 in advance for goods that will be delivered later. Paid $75,000 on account due to suppliers [from #4]. The board of directors declared dividends of $2,000 in December, to be paid in January. Bank Loan Payable Interest Expense Cash Cash Prepaid Insurance Inventory Cost of Goods Sold Cash Accounts Payable Dividends Declared Cash Bank Loan Payable Common Shares Cash Accounts Payable Inventory Sales Revenue Cash Dividends Payable
Expert Answer:
Answer rating: 100% (QA)
1 The company borrowed 250000 from the bank not correct 2 ... View the full answer
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Posted Date:
Students also viewed these accounting questions
-
On August 24, Pocras Corporation purchased inventory on account from Wydell Inc. The selling price of the goods is $32,000 and the cost of goods sold is $14,400. Both companies use perpetual...
-
On December 1, 2013, Mayberry Inc. purchased inventory on account from a U.S. supplier for U.S. $40,000 when the exchange rate was U.S. $1 = C$0.97. The inventory was still on hand at Mayberrys year...
-
During the month the company purchased inventory on account for $3,000. Sales (all on account) during the period totaled $10,000. The items sold had a cost of $4,500. Cash collections on account...
-
a) Analysts attempt to value ordinary shares, in order to determine if market values are correct. Identify and describe the more common methods of valuation. Include a detailed explanation of the...
-
Ruth Swazey, divisional controller and certified management accountant, was upset by a recent memo she received from the divisional manager, Paul Chesser. Ruth was scheduled to present the divisions...
-
What factors must be considered in identifying the population to be sampled?
-
Here you will account for Sherman Lawn Services transactions as it is actually done in practice. Sherman Lawn Service completed the following transactions during August: Aug 1 Received \($1,000\) and...
-
Texas Instruments primarily develops and manufactures semiconductors for use in technology-based products for various industries. The manufacturing process is capital-intensive and subject to...
-
Matrix equation to two simultaneous linear equations and working please -1 2 x Write the matrix equation = as a system of two simultaneous linear equations in -2 3 x and y. Equation 1: Equation 2:
-
1)Compute the standard dollar costs for the units of output. 2)Compute AHC factory overhead volume variance. 3)Compute a detailed analysis of AHC Labor using both rate and volume variance. 4)Compute...
-
Sheridan Company's transactions for the year ended December 31, 2021 included the following: Acquired 50% of Carla Vista Co's common stock for $306000 cash which was borrowed from a bank. Issued...
-
Three charges are fixed to an xy coordinate system. A charge of +22 C is on the y axis at y = +3.7 m. A charge of -13 C is at the origin. Lastly, a charge of +49 C is on the x axis at x = +3.7 m....
-
Is online banking safe? How will you protect online banking information?
-
Masses A and B in Figure P14-64 are fastened together by a belt over pulley D. (Assume no slipping of the belt.) The mass moment of inertia of pulley D is 15 kg-m2. How far does mass B drop before...
-
One improvement my financial institution has made in recent years has been to focus on the use of online banking. Together with the marketing department, we have created campaigns to increase the use...
-
Case Machinery showed the following operating budget for the next year. Complete parts (a) through (d) below. Each scenario is independent. Sales $2,100,000 Fixed cost $1,200,000 Total variable cost...
-
what ways does the organization measure and evaluate the effectiveness of its cultural initiatives, and how do these metrics inform ongoing efforts to refine and strengthen the organizational culture?
-
The ultimate goal of Google, Bing, and other consumer search engines is to provide users with search listings that contain useful information on the topic of their search. What recommendations would...
-
From the information in Exercise, journalize the closing entries for Ranell Manufacturing Company. InExercise, MANUFACTURE DEBIT INCOME STATEMENT DEBIT ACCOUNT NAME Net Sales Raw Materials Purchases...
-
Prepare entries in general journal form to record the following: June 4 Received payment from Parker Company of interest on a 45-day, 5.5 percent note for $ 8,700, dated April 20, and renewal of the...
-
A partial work sheet for McKnight Music Store is presented here. The merchandise inventory at the beginning of the fiscal period was $ 48,473. W. J. McKnight, the owner, withdrew $ 40,000 during the...
-
As an SE, why should you be expected to understand the contents of this chapter?
-
Who owns a specification and what is their authority to implement changes?
-
What are the basic types of specifications?
Study smarter with the SolutionInn App