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2 years ago

Journalize this transaction as if jumpstart paid cash

1 answer:

3 0

The journal entry for the provided transaction is recorded by debiting the office supplies and crediting the cash with equal amounts of $870.

<h3>What is a journal entry?</h3>

A journal entry is an entry passed in the book of the journal to record the financial transactions of a company.

The journal entry is recorded as follows:

Date Particulars Debit Credit

Jan 12 Office supplies 870

Cash 870

(To record the purchase of office supplies in cash)

The complete question should be as follows:

On January 12, JumpStart purchased $870 in office supplies. (a) Journalize the transaction as if JumpStart paid cash.

Therefore, the journal entry is described and recorded as above.

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Rachel Robinson owns a small retail store in Cairo, Georgia. The following summary information regarding expectations for the mo

Andrei [34K]

Answer:

Check the explanation

Explanation:

January

Beginning Cash Balance $1,000

Add: Collection:

December Sale ($5,000*10%) $500

January Cash Sale $6,000

January Credit Sale ($4,000*90%) $3,600

Total Cash Available a $11,100

Cash payment to suppliers b $24,000

Cash deficit before financing a-b $-12,900

Add: Borrowing (Using permutation-comb.) $14,040

Less: Interest Payment $-140

$14,040*12%*1/12

Ending Cash Balance $1,000

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3 years ago

An apprentice involves _____

Iteru [2.4K]

Answer:

the answer is a

Explanation:

An apprentice is someone following the in print 18 around and doing what they're doing just less important things

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4 years ago

Read 2 more answers

A soda manufacturer has two operating departments: mixing and bottling. mixing has 600 employees and bottling has 400 employees.

zhannawk [14.2K]

Cost allocation is a technique of allocating the organization's costs among the various cost centers of the organization. Thus, the office costs allocated to the Bottling department are equal to $128,000.

<h3>What are allocation costs?</h3>

Cost allocation is a technique of supplying relief to shared carrier organization's cost facilities that offer a product or provider. In turn, the related cost is assigned to internal clients' price centers that devour the goods and services.

As per the given information,

Total office costs: $320,000

We have given total number of employees for mixing = 600

And total number of employees for bottling = 400

office costs = $320,000

So total number of employees is equal to 600 plus 400 is 1000 employees.

$\rm\,Allocation \,Base\, For\, Mixing: \frac{600}{1,000} = 0.6 \\\\So allocated amount for mixing is 0.6 \times \$320,000 = \$192,000\\\\Allocation \,Base\, for\, Bottling\, = \dfrac{400}{1,000} = 0.4\\\\So allocated amount for bottling = 0.4 \times \$320,000= \$128,000$

Thus, the office costs allocated to the Bottling department is equal to $128,000.

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3 0

3 years ago

Average Rate of Return, Cash Payback Period, Net Present Value Method for a Service Company

kari74 [83]

Answer:

12.5%

4 years

NPV = $302,387

PV of cash flows = $1,552,387

Amount invested = $1,250,000

Explanation:

Average rate of return = net income / amount invested

Net income = cash flow - depreciation

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

1,250,000 / 8 = 156,250

Net income = $312,500 - 156,250 = $156250

(156250 / $1,250,000) x 100 = 12.50%

Payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative cash flows

Payback period = Amount invested / cash flow

$1,250,000 / $312,500 = 4 years

Net present value is the present value of after-tax cash flows from an investment less the amount invested.

NPV can be calculated using a financial calculator

Cash flow in year 0 = $-1,250,000

Cash flow each year from year 1 to 8 = $312,500

I = 12%

NPV = $302,387

To find the NPV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

7 0

3 years ago

In your words tell us why you would be a great candidate

kap26 [50]

To answer this question, you must first organize your thoughts. Make a list of reasons why you would believe that you would make a good candidate, then put them into a rough draft. lastly, edit and submit.

3 0

3 years ago