Answer:
14-Jan
Dr Trade Receivable $1,125
Cr Sales
14-jan
Dr Cost of sales 625
Cr Inventory 625
9-Apr
Dr Inventory 375
Cr Trade Payable 375
2-Sep
Dr Trade Receivable $2,500
Cr Sales $2,500
2 sep
Dr Cost of sales $1,375
Cr Inventory $1,375
Dec 31 No journal entry
Explanation:
Preparation to Records the month-end journal entries noted below, assuming the company uses a periodic inventory system
14-Jan
Dr Trade Receivable $1,125
Cr Sales (45*25)
14-jan
Dr Cost of sales[25*25] 625
Cr Inventory 625
9-Apr
Dr Inventory (25*$15) 375
Cr Trade Payable 375
2-Sep
Dr Trade Receivable $2,500
Cr Sales (50*50) $2,500
2 Sep
Dr Cost of sales $1,375
Cr Inventory $1,375
($2,500-$1,125)
Dec 31 No journal entry
During its first year of operations, puffin incorporated reported sales revenue of $388,200 but only collected $308,000 in cash from customers. at the end of the year, accounts receivable equals:$80200.
Annual revenue is the amount of money your business earns from sales in a year. This does not include costs and expenses. To calculate annual sales, multiply the quantity of each product sold by the selling price, then add the annual sales for each product to arrive at the total annual sales.
A legal entity is an entity that exists legally separate from its owners, managers, operators, employees, and agents. Legal entities have the same powers as individuals, including the right to own and dispose of property, the power to sue and be sued, and the power to contract for a profit. A business example is an agriculture. An example transaction is a home sale.
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Answer:
is personally responsible for all partnership debts
Explanation:
COMPLETE QUESTION
A general partner:
is personally responsible for all partnership debts. has no say over a firm's daily operations. faces double taxation whereas a limited partner does not. has a maximum loss equal to his or her equity investment. receives a salary in lieu of a portion of the profits.
EXPLANATION
A general partner can be regarded as a person that joins with another person or join with more than one other person to form a business. A general partner is responsible for the actions that is been taken in the business, He or she is liable personally for all the debts as well as obligations in the business and can bind the business legally. It should be noted that A general partner is personally responsible for all partnership debts.
Answer:
A
Explanation:
An investment of $40,000 to generate 2,000 conversions and a CPA of $20 will help Molly with her marketing goal to generate more sales than other investment plan
Answer:
Answer is explained in the attachment.
Explanation:
