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
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.  

You might be interested in
On September 1, Year 1, Great Lakes Equipment receives $24,000 from a customer for work to be performed evenly over the next 2 y
posledela

Answer:

Great Lakes should recognize on the income statement for the year ending December Year 1 $4,000

Explanation:

The income statement only recognize the amount of money that was generated during the period of the income statement.

If the company invoiced by month, it only recognize the total amount for the last four months of the year.  

7 0
3 years ago
Gravity location models in supply chain meaning ?
Andru [333]

Answer:

Gravity models are used to find location that minimizes the cost of transporting raw material from the supplier and finished goods to the markets served. This model also assumes that the transportation cost grows linearly with the quantity shipped.

Explanation:

hope it will helpful

good morning ❤️

4 0
3 years ago
Terrance is very skilled in biological research and the scientific principles guiding his work. He is also punctual, well-organi
Veronika [31]

Answer:

<em>Transferable skills</em>

Explanation:

Transferable skills <em>include all abilities that you may have, that are helpful to companies throughout different employment and sectors. </em>

They may involve abilities that companies pursue in powerful applicants such as versatility, organisation, sportsmanship or other characteristics.

These skills can be used when searching for a new job to place your previous experience, especially if it's in another sector.

5 0
3 years ago
Tamarisk Leasing Company signs a lease agreement on January 1, 2017, to lease electronic equipment to Carla Vista Company. The t
bixtya [17]

Answer:

a. $46,000

see the other answers in the explanation

Explanation:

(a) Fair value of leased asset to lessor $245,000

Less: Present value of unguaranteed residual value $24,335 X .63017

(present value of 1 at 8% for 6 periods) $15,335

Amount to be recovered through lease payments $229,665

Six periodic lease payments $229,665 ÷ 4.99271 $46,000*

*Present value of an annuity due of 1 for 6 periods at 8%.

b.

(c)

1/1/17

Lease Receivable 245,000

Cost of Goods Sold 229,665

Sales Revenue 229,665

Inventory 245,000

1/1/17

Cash 46,000

Lease Receivable 46,000

12/31/17

Lease Receivable 15,920

Interest Revenue 15,920

1/1/18

Cash 46,000

Lease Receivable 46,000

12/31/18

Lease Receivable 13,514

Interest Revenue 13,514

8 0
3 years ago
Employer payroll taxes: Multiple Choice Represent the social security taxes withheld from employees. Are payable for up to a max
AlexFokin [52]

Answer:

Are added expenses beyond that for the wages and salaries earned by employees

Explanation:

The employer payroll taxes are the taxes which are to be computed as a percentage of the wages salaries earned by the employees. It is divided into two types - social security taxes i.e 6.2% and the medicare taxes 1.45%

And the journal entry is

Payroll tax expense A/c Dr XXXXX

To Social security tax A/c  XXXXX

To Medicate tax A/c  XXXXX

To State Unemployment tax payable  XXXXX

To Federal Unemployment tax payable XXXXX

(Being the payroll tax expense is recorded)

Moreover, it is an added expenses

6 0
3 years ago
Other questions:
  • John,a supervisor at the local factory, receives frequent requests from workers on how to fix the machine they use.What should J
    13·2 answers
  • An acceptance is valid if:
    15·1 answer
  • A manager is trying to decide whether to purchase a certain part or to have it produced internally. Internal production could us
    11·1 answer
  • Suppose that Dunkin Donuts reduces the price of its regular coffee from $2 to $1 per cup, and as a result, the quantity sold per
    9·1 answer
  • Help me pls thankyouu​
    11·2 answers
  • Free pointsvguf dhscjbf hcjn
    11·2 answers
  • Foreign exchange ________ earn a profit by a bid-ask spread on currencies they purchase and sell. Foreign exchange ________, on
    15·1 answer
  • Which of the following statements is not true concerning Peter Jackson's use of computer-generated imagery in The Lord of the Ri
    11·1 answer
  • Globalization is the process of
    13·1 answer
  • The adjustment for overapplied overhead ______ net income.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!