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Natalija [7]
3 years ago
9

Skidmore Music Company had the following transactions in March: Sold instruments to customers for $16,300; received $11,200 in c

ash and the rest on account. The cost of the instruments was $8,700. Purchased $4,300 of new instruments inventory; paid $1,600 in cash and owed the rest on account. Paid $610 in wages to employees who worked during the month. Received $4,200 from customers as deposits on orders of new instruments to be sold to the customers in April. Received a $270 bill for March utilities that will be paid in April.
Business
1 answer:
stiks02 [169]3 years ago
5 0

Answer:

1. a) Dr Account receivable  16300

           Cr  Sales revenue            16300

  b) Dr Cash    11200

          Cr   Account receivable  11200

2. Dr Inventory   4300

       Cr Cash                      1600

       Cr Accounts payable   2700

3. Dr Wages expense   610

      Cr  Cash                       610

4. Dr Cash   4200

     Cr  Advance from customer  4200

5. Dr utilities expense   270

      Cr  Utilities payable       270.  

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Answer:

The correct option is 4

Explanation:

Weighted average shares outstanding, is the term which is described as the number of company shares evaluated after the adjustment for the variations in the share capital through the reporting year.

The shares of the company which are outstanding will not be constant and might change or vary through various times through the period.

While computing the weighted average of the shares outstanding, when the stock dividend happen, the extra shares are taken as outstanding at the starting of the earliest period.

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Suppose you have just​ retired, have accumulated many luxury goods over the​ years, still owe a mortgage on your​ home, still ha
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Answer:

review your progress, reevaluate, and revise your plan

Explanation:

Based on the information provided within the question it can be said that in this scenario the step that you have completely neglected is to review your progress, reevaluate, and revise your plan. That is because in this scenario many events have occurred, and it seems that your financial plan after retirement has not been adjusted with each and every one of these life events. Therefore it is outdated and most likely not providing the benefits it once did.

3 0
3 years ago
The credit terms offered by Neutron Enterprise are 2/10, n/30. Neutron sold goods on account to James Company on Jun 14 for $300
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Answer:

Cash A/C            Debit                    $300

  To James company                                  $300

(Amount collected from James Company for credit sale)

Explanation:

Cash A/C            Debit                    $300

  To James company                                  $300

(Amount collected from James Company for credit sale)

Note: The terms here provided that, 2/10, n/30.

Which means that 2% discount if payment made within 10 days, and total 30 days credit allowed.

Here the sales were made on 14 June, and payment received on 27 June that is it took more than 10 days as 10 days complete on 24 June.

Therefore, no discount will be offered.

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3 years ago
When the price of a good increases, the quantity demanded ______. when the price of a good decreases, the quantity demanded?
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When the price of a good increases, the quantity demanded decreases. When the price of a good decreases, the quantity demanded increases.
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1. What's the term for something that seems to be contradictory, but at the same time is perfectly true?
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Answer:

Paradox

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A paradox is a statement that seems to say two opposite things but may be true.

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