Answer:
Date Details Debit Credit
December 31, Employee benefits expense $41,150
Medical insurance payable $31,500
Employee Retirement program $9,650
payable
Working
= 31,500 + 9,650
= $41,150
In accounting, the controlling account is an account in the general ledger for which a corresponding subsidiary ledger has been created. The subsidiary ledger allows for tracking transactions within the controlling account in more detail.
Answer:
Investments
Explanation:
If the note receivable is expected to be received in 12 then it is listed as a Current Asset else as Investments.
For further detail in how you can recognize Financial instrument ,please refer to the accounting rules for this type of accounts in https://www.iasplus.com/en/standards/ias/ias39
You can add a table, rows, columns, or cells (All of the above)
Answer:
total cash collections in June = $101050
so correct option is A. $101,050
Explanation:
given data
month cash sales credit sale
march $19,000 $11,000
April $40,000 $11,000
May $43,000 $35,000
June $59,000 $50,000
to find out
total cash collections in June at Feeney Furniture
solution
we find here total cash collections in June that is express as
total cash collections in June = cash sale in June + ( credit sale in June × 62% ) + ( credit sale in May × 30%) + ( credit sale in April × 5%) .............1
put here value we get
total cash collections in June = $59000 + ( $50000 × 62% ) + ( $35000 × 30%) + ( $11000 × 5%)
total cash collections in June = $101050
so correct option is A. $101,050
