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damaskus [11]
3 years ago
13

Fein Company provided the following information relating to cash payments:

Business
1 answer:
BlackZzzverrR [31]3 years ago
6 0

Answer:

Fein Company

Schedule of Cash Payments

For the Month of August 202x

Salaries expenses:

From July salaries                  $3,230

<u>From August salaries            $31,860</u>

Total salaries                        $35,090

Direct materials:

From July purchases             $61,600

<u>From August purchases        $14,600</u>

Total direct materials            $76,200

Overhead expenses:            $64,850

Debt payments:

Principal                                 $15,000

<u>Accrued interests                      $450</u>

Total debt payment              $15,450

Total cash payments           $191,590

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Prior to adjustment at August 31, Salary Expense has a debit balance of $322,200. Salaries owed but not paid as of the same date
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Explanation:

The Journal entry is shown below:-

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A paper company is opening a new facility in Canada to increase its paper production. The company researched Canadian pulp suppl
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In the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance for uncollectible accounts of
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Answer:

The correct option is 2. $50,200

Explanation:

Please see below the required journals for the transactions that occurred:

Debit Allowance for doubtful accounts             $31,800

Credit Accounts receivable                                $31,800

(<em>To record write-off of accounts receivable)</em>

Debit Accounts receivable                           $2,340,000

Credit Sales revenue                                    $2,340,000

<em>(To record credit sales during the year)</em>

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Credit Accounts receivable                           $1,910,000

<em>(To record collection on account)</em>

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2 years ago
Which methods of evaluating a capital investment project use cash flows as a measurement basis?
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Read 2 more answers
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