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1 year ago

The following merchandise transactions occurred during December for two different companies: Rippen

Business

1 answer:

kondaur [170]1 year ago

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The accounting entries for Rippen Corporation is recorded as follows:

December 3,

DR Accounts Receivable (Burnen Corp.) $480,000

CR Sales $480,000

DR Cost of Goods Sold $320,000
CR Inventory $320,000

December 8,

DR Sales Return $30,000

CR Accounts Receivable $30,000

DR Inventory $20,000

CR Cost of Goods Sold $20,000

December 12,

DR Cash $441,000

DR Credit Discount $9,000

CR Accounts Receivable $450,000

<h3>What is Journal Entry?</h3>

A journal entry is recorded for the transactions of a company in the relevant period, the entry that is recorded is also known as the double entry. These journal entries are then used to prepare T-Accounts, an then trial balance is made and ultimately income statement and balance sheet are made.

The transaction includes a discount of 2% as credit discount for the payment being made within 10 days.

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Buyer and seller prorations are often applied during real estate closing transactions to divide the cost of expenses like property taxes. Thus, the buyer gets a deduction for the prorated amount of property tax due after closing, and the seller gets the same deduction for the taxes.

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What entrepreneurship activities could you engage in that

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Entrepreneurship activities should you interact in that would beautify the mastering reviews you're gaining to your training on campus or online:

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An entrepreneur is a person who creates a new commercial enterprise, bearing maximum dangers and taking part in a maximum of rewards. The method of setting up an enterprise is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a supplier of the latest thoughts, items, services, and enterprises/or methods.

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2 years ago

Sarah owns half of Smith Realty, Inc., and her brother Bill owns the other half. Sarah routinely uses the company car, which is

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Explanation:

Commingling of interests usually occurs when an investment manager or realtor combines client money with their own or their firm's, in violation of a contract. This can occur in legal cases, corporate client accounts and real estate transactions. For example in this case Sarah has violated her rights as a realtor by routinely using their company funds for her own personal uses.

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Pay for knowledge programs:

barxatty [35]

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D. base an employee's salary on the number of task skills he or she possesses.

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<h3>What is the purpose in literature?</h3>

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