All categories

2 years ago

Halogen Laminated Products Company began business on January 1, 2021. During January, the following transactions occurred:

Business

1 answer:

Diano4ka-milaya [45]2 years ago

5 0

Answer:

1. General journal entries to record each transaction.

Jan. 1 Dr. Cr

Cash $103,000

Common Stock $103,000

Jan. 2 Dr. Cr

Inventory $38,000

Account Payable $38,000

Jan. 4 Dr. Cr

Prepaid Insurance $2,760

Cash $2,760

Jan. 10 Dr. Cr

Account Receivable $12,300

Sale $12,300

Cost of Goods Sold $7,300

Inventory $7,300

Jan. 15 Dr. Cr

Cash $33,000

Note Payable $33,000

Jan. 20 Dr. Cr

Salary Expense $33,000

Cash $33,000

Jan. 22 Dr. Cr

Cash $10,300

Sale $10,300

Cost of Goods Sold $6,300

Inventory $6,300

Jan. 24 Dr. Cr

Account Payable $15,300

Cash $15,300

Jan. 26 Dr. Cr

Cash $6,150

Account Receivable $6,150

Jan. 28 Dr. Cr

Utility Expense $1,000

Cash $1,000

Jan. 30 Dr. Cr

Rent Expense $2,150

Prepaid Rent $2,150

Cash $4,300

MS Excel File is attached for T accounts Posting in Worksheet Named as " T Account". Please Find that.

MS Excel File is attached for unadjusted trial balance in Worksheet Named as " Trial Balance". Please Find that.

Download xlsx

You might be interested in

All of the following are necessary to calculate the total purchase price for a municipal bond traded on a yield basis in the sec

ahrayia [7]

Answer: The response options are wrong, those that correspond according to what I found on the internet are:

All of the following are necessary to calculate the total purchase price for a Municipal bond traded on a yield basis in the secondary market EXCEPT:

A. Coupon rate

B. Yield to Maturity

C. Dated date

D. Trade date

The correct answer is "C. Dated date".

Option "C" is correct because to calculate the price of a bond it is not necessary the day of issuance of the bond, is enough with its YIELD TO MATURITY, RATE CUPON AND YEARS TO MATURITY.

7 0

2 years ago

NerdHerd Electronics sells three different sizes of televisions at three different prices. In this case, the company's pricing s

Pavel [41]

Answer:

A) Product Line

Explanation:

Product line Strategy is a process whereby different set of related products are differentiated based on features and prices thereby setting products at different price levels in order to allow customer pick the product that most likely fit their needs and purchase power.

For example, Apple offers the iPhone XS and the iPhone XR as premium options. The iPhone 8 and iPhone 7 are then included as additional options. They are all the same product that is Apple product but at varying prices and features.

3 0

3 years ago

Which type of insurance covers individuals by giving them a

Gelneren [198K]

Answer:

Disability

Explanation:

Disability insurance offers protection against the loss of income due to disability or sickness. This insurance policy provides income to the insured if they are unable to work as a result of a disability or serious illness. Disability insurance coverage is available from private insurance companies and government-backed programs.

4 0

2 years ago

A property is financed with an 85% LTV at 10% interest over 25 years. What would the estimated BTIRRE be on equity given that th

Fofino [41]

Answer:

c. â€‹15.0%

Explanation:

First we need to calculate the Debt to equity ratio

Debt to equity ratio = Debt / Equity

Debt to equity ratio = 85% / 15% = 5.66667

Now calculate BTIRRE using following formula

BTIRRE = BTIRRP + ( BTIRRP - BTIRRD ) x Debt to equity ratio

Where

BTIRRP = 10.75%

BTIRRD = 10%

Placing values in the formula

BTIRRE = 10.75% + ( 10.75% - 10.00% ) x 5.66667

BTIRRE = 10.75% + 4.25%

BTIRRE = 15.00%

7 0

2 years ago

The ________________ of a vg decides the block size for saving data since it cannot be safely changed later.

AVprozaik [17]

The physical extent(PE)size of a vg decides the block size for saving data since it cannot be safely changed later.
When we do a data saving, it transforms the data into several chunks to be stored on the program, which could be easily deleted and extracted out whenever we needed to.

5 0

3 years ago