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Pani-rosa [81]
3 years ago
13

Your company had the following transactions during the month of September:Received $500,000 in Cash from investors in exchange f

or stock in the company Paid $300,000 Cash for an Office Building Received $50,000 in cash from customers for services performed Paid $500 in cash to the utility company for the current months utility expense Provided $1,000 in services to a client who agreed to pay you next monthBelow is the T-Account for cash. Enter the appropriate amounts. If no entry is required for either the debit or credit enter 0. Do not enter decimals. Transaction 1 is done for you.
Business
1 answer:
skelet666 [1.2K]3 years ago
8 0

Answer:

T-Account for cash is made and all the required transaction is entered in the MS Excel file attached here, Please find that.

Entered the appropriate amounts.

If no entry is required for either the debit or credit entered 0

Did not entered decimals.

Explanation:

Download xlsx
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Globalization can create more opportunities for marketers but along with that comes more pressure because they must take into account T<u>hey will standardize them whenever possible.</u>

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The contact and integration of people, businesses, and governments around the globe is known as globalization (Commonwealth English; see spelling variations). Since the 18th century, globalization has accelerated due to advancements in communications and transportation technologies. The expansion of international trade and the sharing of ideas, beliefs, and cultures are both results of the increase in global relationships. The main function of globalization is an economic process of connection and integration that has social and cultural components. However, the history of globalization and contemporary globalization both include significant amounts of disagreements and international diplomacy.

Globalization affects the economy in terms of commodities, services, information, technology, and financial resources. The opening up of international marketplaces has a liberating effect on trade in products and money.

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8 0
2 years ago
The following data were selected from the records of Sykes Company for the year ended December 31, Current Year.
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Answer:

Journal Entry

A) Debit Bank 235000, Credit sales 235000

B) Debit Accounts receivable 11500 Credit sales 11500

C) Debit Accounts receivables 26500 credit sales 26500

D) Debit Sales allowance  500, Credit account receivable 500

E) Debit Accounts Receivables 24000, credit Sales 24000

F) Debit Bank 10780, Debit Sales discount 220,Credit Accounts receivable 11000

G) Debit Bank 98000, debit sales discount 2000, credit Accounts receivables 100000

H) Debit Bank 25970  Debit sales discount 530 Credit Accounts receivables 26500

I) Debit Accounts receivables 19000, Credit Sales 19000

J) Debit Sales allowance 3500 , Credit bank 3430, Credit sales discount 70

K) Debit Bank 6000, Credit Accounts receivables 6000

L) Debit Bad debts 3000, Credit Accounts receivables 3000

M) no entry, just estimate

ACCOUNTS RECEIVABLE balance at year end

opening balance                                 120000

B)   SALES                                            11500

C) sales                                                 26500

D) sales allowance                              (500)

E) sales                                                 24000

F) Bank                                              ( 10780)

   discount                                             (  220)

G) Bank                                                 (98000)

    discount                                           ( 2000)

H) bank                                                 (25970)

   discount                                               (530)

I) SALES                                                  19000

K) Bank                                                  (6000)

L) Bad debt                                           (3000)

closing balance                                    <u>54000</u>

allowance for bad debt                         (4733)

net closing balance                              <u>49267</u>                                

Allowance for doubtful debt    

1 jan                                  8000

closing                             4733

adjustment                      3267  recorded in income statement as income    

Explanation:

closing balance for provision of doubtful debts net sales * 1.5%

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Answer:

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Explanation:

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