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
lesya [120]
3 years ago
11

Using XXs for amounts, give the journal entry for each of the transactions, assuming perpetual inventory. (If no entry is requir

ed, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) The entries are: Transaction Account Titles and Explanation Debit Credit Cash sales— (To record sales) (To record cost of goods sold) Credit sales— (To record sales) (To record cost of goods sold) By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor.
Business
1 answer:
lawyer [7]3 years ago
3 0

Answer:

Journal entries

Explanation:

1. Cash Dr XX

             To Sales revenue XX

(Being the cash sales is recorded)          

Since the cash is received so we debited the cash as it also increases the assets and the sales revenue would be credited as it an income for the company

2. Cost of goods sold XX

                To Merchandise inventory XX

(Being the cost of goods sold is recorded)

While calculating the cost of inventory we debited the cost of goods sold and credited the merchandise inventory

1. Account receivable Dr XX

             To Sales revenue XX

(Being the cash sales is recorded)          

Since the sales is made on account so we debited the account receivable  as it also increases the assets and the sales revenue would be credited as it an income for the company

2. Cost of goods sold XX

                To Merchandise inventory XX

(Being the cost of goods sold is recorded)

While calculating the cost of inventory we debited the cost of goods sold and credited the merchandise inventory

You might be interested in
Using the following to answer Q6-Q8: The results of inspection of DNA samples taken over the past 10 days are given below.
Yuliya22 [10]

Answer:

The average defective rate of the samples is:

6.3 samples per day

Explanation:

To calculate the average or mean defective rate, we will compute the total number of defective samples, and divide the result by the total number of days. It is important to note that day 7 is ignored during this calculation because there was no defective DNA sample on that day, hence it does not contribute to the average defective samples.

Total Defective DNA sample = 7 + 6 + 6 + 9 + 5 + 6 + 8 + 9 + 1 = 57

Total number of days = 9 ( Days 1 to 6, and 8 to 10).

Therefore, average defective rate = Total Defective DNA sample ÷ Total number of days

= 57 ÷ 9 = 6.3 DNA samples

8 0
3 years ago
What is an entitlement?
madam [21]

Hey! Let's do this together.

An entitlement is a provision made in accordance with a legal framework of a society.

That shows us that we can sum up our answer to "A".

Hopefully you understand, if not we can work on it some more :)

Thanks for using Brainly!

6 0
3 years ago
Read 2 more answers
The largest type of municipal bonds outstanding is ________. Group of answer choices revenue bonds industrial development bonds
Ierofanga [76]

Answer:

revenue bonds

Explanation:

A revenue bond is a Municipal bond used to fund projects that yield income and are secured through a particular source of revenue.

Characteristics of revenue bond.

1. It takes long time to maturity.

2. It yields more returns than the general obligation bond.

The purpose of a revenue bond is so that government can finance projects that generates income such as toll roads, airports, seaports, electricity projects, water projects etc.

6 0
3 years ago
Read 2 more answers
IKEA employees are inspired to work hard by an anecdote from their Swedish founder, Ingvar Kamprad, who told how he was berated
MAVERICK [17]

Answer:

Hero

Explanation:

Hero -

It refers to a person can be male as well as a female , who is admired for his or her noble and courageous activity , is referred to as a hero .

Many people makes the hero his or her ideal an tries to follow the lifestyle , character , behavior and nature , and tries to copy him .

Hence , from the given scenario of the question ,

The correct answer is hero .

5 0
3 years ago
The reason a professional such as a lawyer or doctor would incorporate his/her business is
Nesterboy [21]

Answer:

(3) to protect his/her other assets with limited liability.

Explanation:

The reason a professional such as a lawyer or doctor would incorporate his/her business is to protect his/her other assets with limited liability. Limited liability will be very good option for the professionals such as lawyer and doctors because it provides a sense of security. Limited liability secures the owners from any kind of loss if happens in business. Although, it is obviously much costlier but personal assets of the owners are also secured in the case if the business goes bankrupt therefore, it is the very best option for the professionals.

7 0
2 years ago
Other questions:
  • N industry consists of three firms with sales of $360,000, $650,000, and $265,000.
    11·1 answer
  • The current equilibrium price and quantity in the market for walnuts are $5 per pound with 10,000 pounds supplied. Supermarkets
    7·1 answer
  • Bill and Fred bake cookies and pies. Bill's opportunity cost of baking 1 pie is 5 cookies. Fred's opportunity cost of baking 1 p
    9·1 answer
  • An analyst is considering an investment in Treetops Inc. and has gathered the following information. What is the expected return
    12·1 answer
  • You are considering a project in Norway with an initial cost of NKr135,000. The project is expected to return a one-time payment
    7·1 answer
  • Following are account balances (in millions of dollars) from a recent FedEx annual report, followed by several typical transacti
    14·1 answer
  • XYZ Company recorded the following information related to their inventory accounts for 2020: January 1, 2020 December 31, 2020 D
    14·1 answer
  • Martinez Manufacturing applies overhead based on direct labor hours. The company estimates that their overhead for the year will
    6·1 answer
  • Imagine you have $30 to spend. You are thinking of buying new soccer shoes because yours
    10·1 answer
  • The finance and accounting teams in most businesses actually have almost nothing to do
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!