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
attashe74 [19]
3 years ago
8

From the ledger balances below, prepare a trial balance for Cullumber Company at June 30, 2017. All account balances are normal.

Accounts Payable $8,750, Cash $8,000, Common Stock $22,800, Dividends $2,550, Equipment $18,050, Service Revenue $7,750, Accounts Receivable $4,750, Salaries and Wages Expense $3,200, Rent Expense $2,750.
Business
1 answer:
V125BC [204]3 years ago
7 0

Explanation:

The preparation of the trial balance is presented below:

                                       Cullumber Company

                                           June 30, 2017

                                              Trial Balance  

Particulars                                   Debit                                      Credit  

Service revenue                                                                         $7,750

Cash                                           $8,000

Accounts Payable                                                                       $8,750

Common stock                                                                            $22,800

Dividend                                      $2,550                                                

Equipment                                   $18,050

Rent  expense                             $2,750

Salaries and wages expense      $3,200

Accounts receivable                   $4,750

Total                                             $39,300                                  $39,300

You might be interested in
_____________ tends to discourage firms from making physical capital investments.
Jet001 [13]
A higher interest rate
5 0
3 years ago
If the same patient has an office visit and the charge is 120.00. the patient has met the annual deductible. if medicare allows
ipn [44]

In this case, as long as the patient has met their annual deductable and out of pocket max, they will not have to pay for the visit themselves. Their insurance will take over and pay for the service. Since Medicare allows $95 for the service, they will post $95 as paid to the patients account.

5 0
3 years ago
Read 2 more answers
Assume the following data for Oshkosh Company before its year-end adjustments:
babunello [35]

Answer:

a. Dr Sales $619,200

Cr Customer Refunds Payable $619,200

b. Dr Estimated Returns Inventory $400,000

Cr Cost of Merchandise Sold $400,000

Explanation:

a. Preparation of the journal entry to record Estimated customer refunds and allowances

Dr Sales $619,200

($51,600,000 × 1.2%)

Cr Customer Refunds Payable $619,200

(To record Estimated customer refunds and allowances )

b. Preparation of the journal entry to Estimated customer returns

Dr Estimated Returns Inventory $400,000

Cr Cost of Merchandise Sold $400,000

(To record Estimated customer returns)

4 0
2 years ago
The company that you manage has invested $5 million in developing a new product, but the development is not quite finished. At a
Citrus2011 [14]

Given Information:

The company that you manage has invested $5 million in developing a new product, but the development is not quite finished. At a recent meeting, your salespeople report that the introduction of competing products has reduced the expected sales of your new product to $2 million. If it would cost $1 million to finish development and make the product, should you go ahead and do so? What is the most that you should pay to complete the development?

Answer:

Yes, because the total loss would then be $3 million rather than $5 million. The most you should pay to complete the development would be $2 million.

Explanation:

Every product or service that is marketed or is related against, and competitive with, a product or service created or produced by Fiserv or manufactured or distributed. Competitive Product or Service

In the end demand for the product declines due to the exhaustion of supply and economies and new technologies and shifts in the preferences of the customer.

The projected benefit generated by the new product must be offset by the profits from expenses in the project appraisal.

5 0
3 years ago
Bonds are basically also known as what?
Karo-lina-s [1.5K]

bonds are basically known as

b)contracts

8 0
2 years ago
Other questions:
  • Buying a new leather belt for which of these reasons is most likely a sound financial decision?
    6·2 answers
  • The The person who receives financial protection from a life insurance plan is called a:
    13·1 answer
  • Monique has a balance of $5440 on a credit card with an apr of 17.7%. paying off her balance in which of these lengths of time w
    7·2 answers
  • _____ occurs when investors earn interest in the current time period on interest earned in previous time periods.
    5·1 answer
  • In terms of maintaining credibility, the most important quality to convey when delivering bad news is_______________.
    11·1 answer
  • If a material error is discovered in an accounting period subsequent to the period in which the error is made:
    14·1 answer
  • Mutual funds are the riskiest type of investment.<br> true or false
    10·2 answers
  • Sources of monopoly power A monopolist, unlike a competitive firm, has some market power. It can raise its price, within limits,
    5·1 answer
  • Andrew lives in New York City and runs a business that sells boats. In an average year, he receives $793,000 from selling boats.
    5·1 answer
  • During September, the capital expenditure budget indicates a $520000 purchase of equipment. The ending September cash balance fr
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!