Reconstruct the journal entries (with explanations) that resulted in the postings to the following T-accounts of Four
Question:
Transcribed Image Text:
Cash Equipment Revenue from Fees (a) 70,000 (b) 1,500 (c) 15,000 (c) 5,000 (d) 87,000 Accounts Receivable Note Payable (d) 87,000 (c) 10,000 Supplies Inventory Paid-in Capital Supplies Expense (b) 1,500 400 3-28 Reconstruct Journal Entries (Alternate is 3-27.) Reconstruct the journal entries (omit explanations) that resulted in the post (a) 70,000 (e) 400 ings to the following T-accounts of a small fruit wholesaler: Cash Accounts Payable Paid-in Capital (a)50,000 (e) 18,000 e) 18,000 80,000 (a 50,000 Accounts Receivable (c) 110,000 Inventory Cost of Goods Sold Sales Revenue (b) 80,000 (d) 68,000 (d) 68,000 (c) 110,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (10 reviews)
a Cash 70000 Paidin capital 70000 To record investment of 70000 in the company b Supplies inven...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Introduction to Financial Accounting
ISBN: 978-0133251036
11th edition
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
Question Posted:
Students also viewed these Accounting questions
-
Reconstruct the journal entries (omit explanations) that resulted in the postings to the following T-accounts of a small fruitwholesaler: Cash Accounts Payable Paid-in Capital (a) 50,000 (e 18,000...
-
From the following information, reconstruct the journal entries that were made by Rivers Corporation during 2013. *Includes net income of $40,000 for 2013. There were no dividends. Assume that...
-
From the following information, reconstruct the journal entries that were made by Rivers Corporation during 2011. *Includes net income of $40,000 for 2011. There were no dividends. Assume that...
-
Ronnie owns 600 shares of a stock mutual fund. This year he received dividend distributions of 60 stock mutual fund shares ($ 40 per share) and long term capital gain distributions of 45 stock mutual...
-
Is aggregate demand a specific dollar amount? For example, is it correct to say that aggregate demand is $9 trillion this year?
-
The budget director of Birds and Beyond Inc., with the assistance of the controller, treasurer, production manager, and sales manager, has gathered the following data for use in developing the...
-
Table B. 13 presents data on the thrust of a jet turbine engine and six candidate regressors. Use all possible regressions and the \(C_{p}\) criterion to find an appropriate regression model for...
-
Subsidiary Company S had the following stockholders equity on January 1, 2014, prior to issuing 20,000 additional new shares to non-controlling shareholders: Common stock ($1par), 100,000 shares...
-
1. Consider the following C program: #include #include #include int value = 5; int main() { pid t pid; pid = fork(); if (pid == } 0) child process */ value +15; return 0; else if (pid > 0) { /*...
-
Figure 5.3 illustrates the Bayesian belief network for the data set shown in Table 5.3. (Assume that all the attributes are binary). (a) Draw the probability table for each node in the network. (b)...
-
Prepare journal entries and post to T-accounts the following transactions of Washington Real Estate Company: a. Acquired office supplies of $900 on open account. Use a Supplies Inventory account. b....
-
Gamma Company had total assets (cash and inventories) of $50,000, total liabilities of $30,000, and stockholders equity of $20,000 at the beginning of 20X0. During the year Gamma purchased inventory...
-
The uniform links AB and BC each weigh 2 lb and the cylinder weighs 20 lb. Determine the horizontal force P required to hold the mechanism at ? = 45 o . The spring has an unstretched length of 6 in....
-
Cross regulators in main canals are provided (A) To regulate water supply in the distributaries (B) To increase water head upstream when a main canal is running with low supplies (C) To overflow...
-
Separable PDES Q1.Reduce the following PDE equation to ODES via separable method only(No need to Integrate them) in terms of y=y(x), u=u(x) and u=u(y) (a) (i) , + 4, + 2 0 (ii) 2ur + 5uy5u = 0 (ii)...
-
Q2. Q3. (a) (i) Q4. (a) (i) (i) = (x, y) 8% (a=x0+,y=yo) 0x (x=x0,y=yo) ad = (l,m) ail(l=lo+1,m=mo) ail(l=lo,m=mo) ad * = f(x) 3 d dx2](x=x0+) = {3\x=x0) dx
-
1 Let X ~ Nn(1,), where 1 = and is the variance covariance matrix of X. Let 1 1 0 0 0 1 1 1 1 0 1 0 0 1 1 1 1 = (1 p)I + pJ, with p > -11, I = and J = . Therefore, 0 0 0 1 1 1 1 1 when p = 0 we...
-
Q1.(a) Explain the difference between a signal and a system. Give two areas of application each for a signal and system. (b) Suppose you have been tasked to design an automated system for gas cooker...
-
Why does culture matter?
-
The population of Detroit, Michigan, decreased from 1,027,974 in 1990 to 688,701 in 2013 (Source: U.S. Census Bureau). Find the average rate of change in the population of Detroit, Michigan, over the...
-
Flux used for brazing cast iron is: (a) A mixture of boric acid, borax and a wetting agent (b) A mixture of boric acid, borax of fluoride with a wetting agent (c) Chlorides and fluorides mixed with...
-
Explain the role and objectives of the IFRS Advisory Council.
-
Describe the standard setting process for International Financial Reporting Standards (IFRSs).
-
Describe the accounting treatment for measuring the value of inventories under IAS 2 - Inventories.
-
Accounting for Fair Value Hedge: Interest Rate Swap On January 1 of Year 1, Innovative Lab issued a 4-year $50,000 note to a local bank with fixed interest payments based on 6%, payable annually on...
-
Part 4 Tennis company, a distributor of Tennis Rackets, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement below: Sales Variable...
-
[The following information applies to the questions displayed below.] Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as...
Study smarter with the SolutionInn App