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3 years ago

Bearcat Construction begins operations in March and has the following transactions.

Business

1 answer:

aleksklad [387]3 years ago

8 0

Answer:

Bearcat Construction

General Journal

March 1

Cash $17,500 (debit)

Common Stock $17,500 (credit)

Cash Received in Exchange of Common Stock

March 5

Cash $8,300 (debit)

Note Payable $8,300 (credit)

Cash received from Bank Loan

March 10

Equipment (debit)

Cash (credit)

Purchase of Equipment by Cash

March 15

Advertising Expenses (debit)

Cash (credit)

Advertising Expense paid in Cash

March 22

Accounts Receivable $17,300 (debit)

Service Revenue $17,300 (credit)

Service Rendered on Credit

March 27

Cash $17,300 (debit)

Accounts Receivable $17,300 (credit)

Cash Received from Accounts Receivables

March 28

Salaries Expense $5,300 (debit)

Cash $5,300 (credit)

Salaries paid in Cash

Explanation:

See the Journal Entries and Narrations that i have prepared above.

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Explanation:

The combinations are below:

A. Receipt of cash refund from over payment of taxes. (Cash Journal)

B. Adjustment to record accrued salaries at the end of the year (General journal)

C. Providing services on account (Revenue Journal)

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E. Receipt of cash on account from customer (Cash Journal)

F. Receipt of cash for rent ( Cash, General Journal) (The transaction will be recorded in both cash and rent account but for the journal we put the rent part in the General journal)

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H. Sale of used office equipment on account, at cost to a neighbor (General Journal)

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J. Providing services for cash (Revenue, Cash Receipts Journal)

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3 years ago

The Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 10,000 units duri

alexandr402 [8]

Answer:

Equivalent units

Materials 10,200

Covnersion Cost 9, 100

Explanation:

$\left[\begin{array}{cccc}&$Physical Units&$Materials&$Conversion\\$Beginning&2,000&0.6&0.4\\$Transferred out&9,000&&\\$Ending&3,000&0.8&0.3\\$Equivalent Units&&10,200&9,100\\\end{array}\right]$

The equivalent units will be calcualte as follow:

transferred out

ending x completion

(beginning x completion)

Equivalent units

Materials

9,000 + 3,000 x 80% - 2,000 x 60% = 10,200

Conversion Cost

9,000 + 3,000 x 30% - 2,000 x 40% = 9,100

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In a commercial bank's t-account, reserves and outstanding loans are recorded as?

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In a commercial bank's t-account, reserves and outstanding loans are recorded as assets.

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