Bianca Company, which is a medium-sized firm, uses a voucher system. Record each of the following entries
Question:
Bianca Company, which is a medium-sized firm, uses a voucher system. Record each of the following entries in general journal form. Assume that Bianca Company records all vouchers at gross.
Transcribed Image Text:
202X May 3 Voucher no. 50 was prepared for the purchase of $7,000 of merchandise on account from Marcus Company; terms 3/10, n/30. 6 Voucher no. 51 was prepared for the purchase of $5,000 of equipment on account; terms 3/10, n/30. 12 17 Check no. 55 was issued in payment of voucher no. 51. Check no. 56 was issued in payment of voucher no. 50.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (4 reviews)
202X May 3 Purchases Vouchers Payable Marcus C...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780137504282
15th Edition
Authors: Jeffrey Slater, Mike Deschamps
Question Posted:
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
Students also viewed these Business questions
-
Record the following entries in general journal form for December 2021: December 1: Purchased Equipment for $200,000, paid $100,000 down, and signed a 4%, 90-day note for the balance. This equipment...
-
Record each of the following transactions in general journal form and then show the effect of the transaction in a horizontal statements model. The first transaction is shown as an example. a....
-
Record each of the following transactions in general journal form and then show the effect of the transaction in a horizontal statements model. The first transaction is shown as an example. a....
-
The compound bow in the previous problem requires 152 J of work to draw the string back to x = 0.540 m, at which point the archer need only exert 250 N of force to hold the string in place. (a)...
-
(a) Does the 95 percent confidence interval for the slope include zero? If so, what does this tell you? If not, what does it mean? (b) Do a two-tailed t test for zero slope at = .05. State the...
-
1. Compare and contrast the nature of the business market structure and demand relative to consumer market structure and demand for a specific P&G product. 2. For the same product, discuss the...
-
In an Otto cycle, air at \(15^{\circ} \mathrm{C}\) and 1 bar is compressed adiabatically until the pressure is 15 bar. Heat is added at constant volume until the pressure rises to 40 bar. Calculate...
-
John conducted a repeated-measures study to measure self-esteem among victims of domestic violence before and after they complete an 8-week program for abuse victims with 10 individuals. He...
-
The altitude of a triangle is increasing at a rate of 2 centimeters/minute while the area of the triangle is increasing at a rate of 2.5 square centimeters/minute. At what rate is the base of the...
-
Shown below are the investment weights for the securities held in four different portfolios: three mutual funds and the benchmark index that each of those funds uses. a. Calculate the active share...
-
Fairwell Company uses a voucher system. Record the following transactions in the voucher register: 202X June 8 Purchased office equipment on account from Taffy Corporation, $700; voucher no. 300 was...
-
Record the following transactions in the general journal, assuming that the company records all vouchers at gross: 202X Jan. 7 Voucher no. 7 was prepared for the purchase of $800 of merchandise on...
-
Discuss the ethical implications of using derivatives to shift risk from one entity to another.
-
Paul disagrees, arguing, "Playing video games develops different skills, which are also important. The arcade will be a great addition for the kids of our town. Paul and Mary are experiencing _ _ _ _...
-
Consider applying the discrete-time epidemic model described in lecture) for infectious diseases to a computer worm. In this scenario, the potential victim population is Windows-installed computing...
-
Cubie Corporation has provided the following data concerning its only product: Selling price Current sales $ 90 per unit 11,500 units Break-even sales What is the margin of safety in dollars? 9,545...
-
After the first I games of the VAMP geagon, the blue Eagles have a winning percent of 0.361 and the Green Archers have a winning percent of 0.491. How many Eames behind the Blue Eagles are the Green...
-
3 3 Player Games {U, D}, Suppose there are 3 players, P1, P2 and P3, with feasible strategies S S2 = {L, R}, S3 = {A, B). The payoffs are summarized in the following payoff matrices: Table 3: Payoff...
-
Calculate R4,4 for the integrals in Exercise 1. In Exercise 1 15 r In x dx xed .0.35 dx r--4 r- xsinx dx e sin 2x dx 2r 3.5 dx 4 (cosx) dx
-
Show that gj concave AHUCQ Abadie For nonnegative variables, we have the following corollary.
-
Why does the interest method of amortizing a discount or premium use the market rate in calculating interest expense to be recorded?
-
Journalize the following transactions: 1. Issued three $35,000, 8% bonds that mature in 12 years at face value on May 1. 2. Paid semiannual interest on October 31. 3. Bonds retired at end of 12 years.
-
On January 1, Borg Co. issued five $2,200, 4%, 20-year bonds at 92. Record the journal entry.
-
U se logarithm to solve 6 e ^ ( 9 x + 8 ) + 2 = 7 4
-
What are struggles over working conditions and also about the surplus product?
-
How willing and agreeable were you to accept responsibility for planning and implementing systems and strategies to achieve organisational goals, as well as negotiating key aspects with others ?
Study smarter with the SolutionInn App