1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Talja [164]
2 years ago
15

Selected transactions from the journal of Larkspur, Inc., are presented below. Date Account Titles and Explanation Debit Credit

Aug. 1 Cash 33,000 Common Stock 33,000 (Investment of cash for stock) 10 Cash 14,850 Service Revenue 14,850 (Received cash for services performed) 12 Equipment 27,500 Cash 4,400 Notes Payable 23,100 (Purchased office equipment for cash and notes payable) 25 Account Receivable 8,800 Service Revenue 8,800 (Billed clients for services performed) 31 Cash 4,840 Accounts Receivable 4,840 (Receipt of cash on account)
Business
1 answer:
marshall27 [118]2 years ago
4 0

Answer:

The requirement of the question is below:

Post the transactions to T accounts. (Post entries in the order displayed in the problem statement.)

The postings of the transactions to t accounts are found in the attached

Explanation:

In doing the post , I have observed strictly the rule of double that the giving account be credited and the receiving account be debited.

Also,this could be done understanding that assets ,expenses and drawings should be debited when they increase and the reverse when there is reduction.

Besides, liabilities,capital and income should be credited when they increase and the reverse for the opposite.

Check the highlighted balances as well and note that the balances are named after the side with balance brought down.

Download xlsx
You might be interested in
"Worldwide Food Services, InC., (WFS) has a large number of cooks and other food service workers who will be sent to hardship en
vova2212 [387]
<h3>In this case, it would be most wise for WFS to go for external trainers through subcontracting  </h3>

Explanation:

Subcontracting is the process of transferring or outsourcing to another entity known as a subcontractor a portion of the responsibilities and duties under a contract. The person or business subcontracting reports to the primary contractor, who is responsible for overseeing the contract work from inception until completion.

Subcontracting refers to the process of bringing specific parts of a contract or project into an outsourced business or entity. In most cases, an organization subcontracts business to perform a task that cannot be handled internally.

7 0
3 years ago
Determine which of the statement(s) are correct if a petty cash account is not replenished at the end of the accounting period.
Vitek1552 [10]

If Petty Cash is not replenished at the end of the accounting period:

  • the balance sheet would show an overstated cash asset.
  • expenses would not be recorded in the period in which they were incurred.
  • the income statement would reflect a net income amount that was too high.

<h3>What happens when petty cash is not replenished?</h3><h3 />

Because the cash that was meant to go to the petty cash was not taken from the cash account, this account will have more than it should (overstated).

The expenses which were incurred and recorded in the petty cash would not be accounted for which means that the income would be overstated as these expenses were not deducted from it.

Find out more on the petty cash at brainly.com/question/17439772.

#SPJ1

5 0
2 years ago
Riverside Manufacturing designs and manufactures bathtubs for home and commercial applications. Riverside recorded the following
Papessa [141]

Answer:

variable overhead efficiency variance= $9,200 favorable

Explanation:

Giving the following information:

Riverside recorded the following data for its commercial bathtub production line during ​ March:

Standard DL hours per tub= 4

Standard variable overhead rate per DL hour= $ 8.00

Standard variable overhead cost per unit= $ 32.00

Actual variable overhead costs= $ 18,450

Actual DL hours= 2,050

Actual variable overhead cost per machine hour= $ 9.00

Actual tubs produced= 800

We need to use the following formula:

variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard Rate

SQ= 800 tubs* 4 hours=  3,200 hours

AQ= 2,050 hours

SR= $8 per direct labor hour

variable overhead efficiency variance= (3,200 - 2,050)*8= $9,200 favorable

7 0
3 years ago
In the situation shown in exhibit 16-3, how could the fed return the economy to potential output?
crimeas [40]
CKcJFueakgHCYLGhfdLhdoteptaiJfTertzuio
3 0
3 years ago
Herb Kelleher, founder and long-time chief executive officer of Southwest Airlines, was known for inspiring and motivating his e
marin [14]

Answer:

Interpersonal Skills

Explanation:

Interpersonal skill is the skill that connects one person with other due to the employee's behavior which helps him to get along with others. In other words, when we talk about interpersonal skills we are actually talking about the excellent way of interacting with people that results in better relation, respect, better job environment, motivation of employees, etc.

In this case, Herb Kelleher, the CEO has better relations with his company employees as he interact with the people well which is interpersonal skills.

8 0
2 years ago
Other questions:
  • true or false for the best control of both the accelerator and brake pedals rest the heel of your foot on the floor??
    7·2 answers
  • In the video "chinese manufacturing for american products," mike tomberlin manufactures its cars in china. what do his partners
    15·1 answer
  • In cell g5, construct a formula to calculate the percent of total by dividing the annual total for salaries and benefits by the
    13·1 answer
  • If sales are $799,000, variable costs are 75% of sales, and operating income is $222,000, what is the contribution margin ratio?
    7·1 answer
  • A system of rule in which the government recognizes no formal limit but may nevertheless be restrained by the power of other soc
    6·1 answer
  • Under the family and medical leave act, an employee can take up to 12 weeks of paid leave each year for certain personal and fam
    14·1 answer
  • On April 1, 2020, Clare Barry received a 5%, $600,000 note from John Edwards, a customer. The note is due on March 31, 2021. Cla
    11·2 answers
  • Sue works in the finance department of a large multinational corporation. Her manager has asked her to submit a detailed report
    9·1 answer
  • how can good boilerplate tersm and conditions of contract still fail to protect an orgnaization against some risk
    6·1 answer
  • A new form of business ownership (not a corporation) approved in most states since approximately 1994- combines aspects of partn
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!