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Alex777 [14]
3 years ago
7

Prepare journal entries for each of the following

Business
1 answer:
vova2212 [387]3 years ago
7 0

Answer:

The Journal entries are as follows:

(a)  On March 1,

Petty cash A/c   Dr.  $1,000

To cash                                   $1,000

(To record petty cash fund)

(b) On April 1,

Repairs Expense A/c     Dr.  $600

Miscellaneous Selling Expense A/c   Dr. $56

To Cash Short and Over                                                 $29

To cash                                                                             $685

(To record cash short and over account.)

Notes:

Cash Short and Over = 1000 - (600 + 56 + 315)

                                   = $29

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Innovative change

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3 years ago
Savings accounts are limited in their transactions. how many transactions and what law
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____ Do they need engage with this work or is it entirely voluntary? Do they have a direct investment in having access to this i
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8 0
3 years ago
The XYZ Chemical Company must ship 9,500 gallons of pesticides from its plant in Cincinnati, Ohio, to a customer in Columbia, Mi
never [62]

Answer:

Henderson  = $1,200

Central States = $1,000

Based on the calculations, Central States Railroad is better at a lower cost than Henderson

Explanation:

The question is to do an evaluation of the costs of use Henderson Bulk Trucking Company or the Central States Railroad

Step 1) Determine the cost of using Henderson

What is the cost per tank  truck = $600

What is the capacity in gallons = 700 galloons

However, since XYZ Chemical needs to ship 9,600 gallons, it means it will make use of 2 trucks from Henderson as follows

The cost of Henderson Bulk Trucking = $600 x 2 = $1,200

Step 2) Determine the cost of using Central Railroad

What is the cost per tank  truck = $1000

What is the capacity in gallons = 23,500 galloons

since XYZ Chemical needs to ship 9,600 gallons, it means it will make use of only one of the trucks

The cost of Central Roilroad= $1000 x 1 = $1,000

Based on the calculations, Central States Railroad is better at a lower cost than Henderson

3 0
3 years ago
When recording depreciation, which of the following statements is true?
professor190 [17]

Answer:

D. None of the above are true.

Explanation:

As while recording depreciation, the total assets is decreased and the stockholder equity is also decreased as depreciation is a contra asset account

In the side of stockholder equity, the net income, the retained earning and the stockholder equity is decreased

whereas, the total asset is decreased as the amount of asset is reduced by deducting the accumulated depreciation amount

The journal entry is shown below for better understanding

Depreciation Expense A/c XXXXX

To Accumulated Depreciation XXXXX

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