Sanderson Electronics is a new retail store that sells mainly small parts, such as switches, circuit...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Sanderson Electronics is a new retail store that sells mainly small parts, such as switches, circuit boards and wire. Sanderson's ledger accounts are shown below in T-account form, with entries made for the first month of business. Cash Accounts receivable Supplies (a) 30 000 (c) 1 200 (e) 900 (g) 650 (1) 300 () 1 300 (h) 1 000 (f) 1 400 (9) 650 G) 560 Equipment Inventory Accounts payable (c) 3 600 (b) 5 000 (e) 540 (h) 1 000 (b) 5 000 () 1 620 (d) 700 Notes payable Share capital Sales revenue () 500 (c) 2400 (a) 30 000 (e) 900 () 2700 Supplies expense Interest expense COGS (d) 700 ) 300 ) 60 (e) 540 () 1620 For each of the transactions (a) to (j), write the general journal entry that was used to post the accounts, including an explanation of the entry. Sanderson Electronics is a new retail store that sells mainly small parts, such as switches, circuit boards and wire. Sanderson's ledger accounts are shown below in T-account form, with entries made for the first month of business. Cash Accounts receivable Supplies (a) 30 000 (c) 1 200 (e) 900 (g) 650 (1) 300 () 1 300 (h) 1 000 (f) 1 400 (9) 650 G) 560 Equipment Inventory Accounts payable (c) 3 600 (b) 5 000 (e) 540 (h) 1 000 (b) 5 000 () 1 620 (d) 700 Notes payable Share capital Sales revenue () 500 (c) 2400 (a) 30 000 (e) 900 () 2700 Supplies expense Interest expense COGS (d) 700 ) 300 ) 60 (e) 540 () 1620 For each of the transactions (a) to (j), write the general journal entry that was used to post the accounts, including an explanation of the entry.
Expert Answer:
Answer rating: 100% (QA)
Particalars Debit Credit Cash Share capital To record issue of share capital 30000 3000... View the full answer
Related Book For
Marketing Research
ISBN: 978-1118156636
11th edition
Authors: David A. Aaker, V. Kumar, Robert Leone, George S. Day
Posted Date:
Students also viewed these accounting questions
-
The following information is available for the first month of operations of Url Inc., a manufacturer of art and craft items: Sales $1,200,000 Gross profit 320,000 Indirect labor 110,000 Indirect...
-
The following information is available for the first month of operations of Enders Company, a manufacturer of mechanical pencils: Sales ................. $630,000 Gross profit .............. 370,000...
-
The following information is available for the first month of operations of Url Inc., a manufacturer of art and craft items: Sales.................... $1,200,000 Gross profit.....................
-
1. Insurance Act, RSBC 1996 c226 Read Parts 1 and 2 of this statute and describe any changes to the standard commonlaw rules for contracts that you notice. 2. KP Pacific Holdings Ltd. and Churchland...
-
Amalgamated Holdings provided the following information in Note 1 Significant Accounting Policies in its 2013 Annual Report: (ii) Associates Associates are those entities for which the Group has...
-
Describe an algorithm that takes as input a list of n integers in nondecreasing order and produces the list of all values that occur more than once. (Recall that a list of integers is nondecreasing...
-
In each of the following situations, formulate the null and alternative hypotheses. a. A new product will be introduced if it is preferred by more than 70 percent of the consumers in the target...
-
Callaghan Companys annual factory depreciation is $450,000. Callaghan estimated it would operate the factory a total of 3,600 hours this year. The factory operated 300 hours in November and 200 hours...
-
panel = Drawing Panel (160, 160) for i in range (0, 10): panel.draw rectangle (20, 20 + 100 10 * 1, 10 i, 10) Write variations of the above program that draw the figures at the lower right as output....
-
An example in this chapter referred to a survey of 410 human resource professionals. If those subjects are identified with numbers from 1 through 410, does it make sense to calculate the average...
-
Next, let's pretend you are the community manager for Southwest Airlines. Your boss has told you she wants people having (positive) conversations about your brand on Twitter, preferably using the...
-
what ways does the Multilevel Feedback Queue (MLFQ) scheduling algorithm address the complexities of modern computing environments by incorporating multiple priority levels and feedback mechanisms?
-
Select and describe one example of an ad that uses behavioral learning . - SNICKERS Select and describe one example of an ad that uses cognitive learning . - OLD SPICE Analyze each ad, and discuss if...
-
You have 30% of your investment in a stock with a beta of 1.5 and the rest in a stock with a beta of 1.1. The expected market return is 6.5% and the risk-free rate is 1%. What's the expected return...
-
What role do threat intelligence feeds play in informing patch prioritization decisions, enabling organizations to align their patch management efforts with emerging threat landscapes and prioritize...
-
What considerations should be taken into account when developing a comprehensive patch testing methodology, balancing the need for thorough validation with the imperative to minimize service...
-
2m -30 nC 2m 2 m A B C 20 nC -15 nC 20 nC 1. Calculate the magnitude of the electric force between charges A and B in the Figure above. Is it attractive or repulsive? 2. Calculate the DIRECTION of...
-
Some people argue that the internal control requirements of the Sarbanes-Oxley Act (SOX) put U.S. companies at a competitive disadvantage to companies outside the United States. Discuss the...
-
Compare and contrast controlled-distribution scanner markets with sell-in test markets. What are the advantages and disadvantages of each? When would you want to use a sell-in test market?
-
A researcher investigating the general happiness of respondents in a particular age and socioeconomic group is considering using the following two questions in a questionnaire: a. All things...
-
A beer distributor claims that a new display, featuring a life-size picture of a well-known athlete, will increase product sales in supermarkets by an average of 40 cases a week. For a random sample...
-
A \(1.0-\mathrm{cm}\)-tall object is \(60 \mathrm{~cm}\) in front of a diverging lens that has a \(-30 \mathrm{~cm}\) focal length. Calculate the image position and height.
-
A 3.0-cm-tall object is \(15 \mathrm{~cm}\) in front of a convex mirror that has a \(-25 \mathrm{~cm}\) focal length. Calculate the image position and height.
-
A \(3.0-\mathrm{cm}\)-tall object is \(45 \mathrm{~cm}\) in front of a convex mirror that has a \(-25 \mathrm{~cm}\) focal length. Calculate the image position and height.
Study smarter with the SolutionInn App