Drawing of goods by D Bonita totalled $385 ($350 + $35 GST). Prepare two general journals showing
Question:
Drawing of goods by D Bonita totalled $385 ($350 + $35 GST). Prepare two general journals showing the entry where perpetual inventory applies and then where periodic inventory applies.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
Journal Entries for D Bonitas Drawing of Goods Perpetual Inventory Date Description Accou...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Accounting An Introduction To Principles And Practice
ISBN: 9780170403832
9th Edition
Authors: Edward A. Clarke, Michael Wilson
Question Posted:
Students also viewed these Business questions
-
On 25 June 2022 F Stool withdrew inventory for private use at a cost of $825 ($750 + $75 GST). On 29 June $1000 was taken by F Stool from the business bank account for private use. Prepare the...
-
Show the following transactions in the journals of R Angara, initially assuming periodic inventory applies and then where perpetual inventory applies. 2 October 2022: R Angara sold goods on tax...
-
Show the following transactions in the two journals of S Alderson. Assume first that periodic inventory applies and then that perpetual inventory applies. 19 June 2022: Goods were sold to R...
-
Look at the following code. Which line will cause a compiler error? Explain why. Line 1 public class ClassA Line 2 { Line 3 public ClassA () {} Line 4 public final int methodl (int a) () Line 5...
-
Prove the formula for the variance, V(T), of the swap rate in equation (33.17).
-
The device pictured in Figure 16.42 entertains infants while keeping them from wandering. The child bounces in a harness suspended from a door frame by a spring constant. (a) If the spring stretches...
-
What is the definition of ignorable treatment assignment? a. Give an example of a study where the treatment assignment is ignorable. b. Give an example of a study where the treatment assignment is...
-
Write the structure of the major organic product formed in the reaction of 1-pentene with each of the following: (a) Hydrogen chloride (b) Hydrogen bromide (c) Hydrogen bromide in the presence of...
-
Suggest one best practice recommendation for backbone design and explain why it's a best practice.
-
Matthews paid $3850 ($3500 + $350 GST) to R Badger for an office desk, cabinet and chair (office furniture). Prepare the journal for S Matthews.
-
On 14 July 2022, P Chaing used the debit card to pay the ABC Concert Department for two tickets to the Sydney Symphony Orchestra. This payment was not related to the business at all. Show the payment...
-
What ions would you expect to find in the crystal structures of MgO and K 2 S?
-
Suppose you were long in a T-bond futures contract at 94-16. At the futures expiration for a delivered T- bond, if the bond's conversion factor was 1.1 and the accrued interests on the deliverable...
-
A business person invests $3,754 at 3% compounded semiannually for two years. What is the future value of the investment, and how much interest will they eam over the two-year period? What is the...
-
First, find the initial proceeds of the following simple discount note. Each note is then discounted at 11% on March 19. Find the discount period, the discount, and the proceeds after discounting....
-
Under Linux / Unix , please write one shell command to search and output all the processes whose USER is tom?
-
For the graph in the picture please answer the following questions: a) This graph has two cycles. Which nodes are not in either of the two cycles? b) If adjacency lists are used to represent this...
-
Review LOrals brand portfolio. What role have target marketing, smart acquisitions, and R&D played in growing those brands?
-
Find the radius of convergence of? 1.2.3 1.3.5 (2n-1) r2n+1 -1
-
The following comparative statements of financial position and income statement are for the business of Bargains Galore Pty Ltd. Additional information 1. All sales and purchases of inventory are on...
-
Comparative statements of financial position as at 31 December 2020 and 2019 and the income statement for 2020 for W. Yu are set out below. No plant and equipment was sold during the year. W. Yu...
-
Karen Broderick commenced business on 1 July 2018. On 30 June 2019, she found that she had written off debts amounting to $1875. In addition, she found it necessary to create an allowance for...
-
4. The publisher of a newspaper estimates its revenue (money earned in thousands of dollars) can be modelled with the equation below where x is the number of subscribers (in thousands). R=32x 0.21x2...
-
Given the following pseudo code: Algorithm Ex (A, n): Input: An array A storing n 1 integers. Output: The sum of elements at even cells in A. SA [0] for i2 ton - 1 by increments of 2 do SsA[i] return...
-
b) By inspecting the pseudo-code, answer the following questions: Algorithm Mystery (n) //Input: A non-negative integer n S
Study smarter with the SolutionInn App