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3 years ago

1. B. Journalize the transactions for May, starting on Page 20 of the journal.*

Business

1 answer:

jeyben [28]3 years ago

8 0

Answer:

Rent Expense (Dr.) $5,000

Cash (Cr.) $5,000

Inventory (Dr.) $35,380

Accounts Payable Martin Co. (Cr.) $35,380

Accounts Receivable Korman Co. (Dr.) $62,000

Sales (Cr.) $62,000

Cost of Goods Sold (Dr.) $48,500

Inventory (Cr.) $48,500

Explanation:

Advertising Expense (Dr.) $21,800

Cash (Cr.) $ 21,800

Cash (Dr.) $62,000

Accounts Receivable Korman Co. (Cr.) $62,000

Customer Refund Payable (Dr.) $31,500

Cash (Cr.) $31,500

Sales Salaries Expense (Dr.) $12,000

Office Salaries Expense (Dr.) $ 38,000

Cash (Cr.) $50,000

Store Supplies Expense (Dr.) $2,200

Cash (Cr.) $2,200

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A(n) _____ allows you to create a wireless connection among your smart devices.

aleksandr82 [10.1K]

The answer that would best complete the given statement above would be option B. HOME NETWORK. A home network allows you to create a wireless connection among your smart devices. This is also known as HAN and this facilitates communication among devices within the close vicinity of a home. Hope this helps.

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4 years ago

Read 2 more answers

You want to have $1,000,000, 25 years from today. Assuming a 7% annual return (which will be compounded monthly), how much do yo

scoundrel [369]

Answer:

Monthly payments = $1,234.54

Explanation:

given data

Future value = $1,000,000

time = 25 year = 25 × 12 = 300 months

rate = 7 % annual = $\frac{0.07}{12}$ = 0.5833% monthly

to find out

Monthly payments

solution

we will apply here future value formula that is express as

Future value = Monthly payments × $\frac{(1+rate)^{time} - 1}{rate}$ ..........1

put here value we get

Future value = Monthly payments × $\frac{(1+rate)^{time} - 1}{rate}$

1,000,000 = Monthly payments × $\frac{(1+0.005833)^{300} - 1}{0.005833}$

solve it we get

Monthly payments = $1,234.54

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3 years ago

At the beginning of the current season on April 1, the ledger of Kokott Pro Shop showed Cash $3,800; Inventory $4,300; and Commo

KIM [24]

Answer:

Explanation:

1. Journal entries for the month of April 2017

Apr.5

Dr Inventory 1300

Cr Accounts Payable 1300

(Purchase of goods on account from Hogan)

Apr.5

Dr Inventory 50

Cr Cash 50

(Freight charges on purchases)

Apr.9

Dr Accounts Payable 100

Cr Inventory 100

(Credit received for returned goods from Hogan)

Apr.10

Dr Accounts Receivable 880

Cr Sales 880

(Sales of goods on account)

Apr.12

Dr Inventory 750

Cr Accounts Payable 750

(Purchase of goods on account from Duffer)

Apr.14

Dr Accounts Payable 1200

Cr Cash 1176

Cr Inventory 24

(Payment made to Hogan in full)

Apr.17

Dr Accounts Payable 50

Cr Inventory 50

(Credit received for returned goods from Duffer)

Apr.20

Dr Accounts Receivable 880

Cr Sales 880

(Sales of goods on account)

Apr.21

Dr Accounts Payable 700

Cr Cash 693

Cr Inventory 7

(Payment made to Duffer in full)

Apr.27

Dr Sales 30

Cr Accounts Receivable 30

(Credit granted to customers for flaws in goods)

Apr.30

Dr Cash 850

Cr Accounts Receivable 850

(Payment received from custmers on account)

2. T accounts calculation is attached with this answer

3. KOKOTT PRO SHOP

Trial balance as at April 30, 2017

Account Debit Credit

Cash 2731

Accounts Receivable 6219

Inventory 880

Common Stock 8100

Sales 1730

T o t a l 9830 9830

4. KOKOTT PRO SHOP

Income statement for the month ending April 30, 2017

Sales Revenue 1730

Cost of goods sold (6,219 - 5,469) 750

Gross profit 980

Download xlsx

3 0

3 years ago

Sean’s mother had to make an emergency purchase of a new tire because her tire went flat while she was traveling to the store. S

andrew-mc [135]

dave ramsey says debit!!!

5 0

3 years ago

The following information pertains to Havana Corporation's defined benefit pension plan: ($ in 000s) 2018 2019 Beginning balance

Hitman42 [59]

$504000 is the actual return

Explanation:

particulars calculation Amount

Service cost 700000

Interest cost $600000 * 8 \%$ 480000

Less: Expected return $10 \% * 5760000$ 576000

Prior service cost 48000

Net loss 30000

Pension expense 682000

Therefore, the pension expense is $682000

The computation is as follows for the calculation of return (in $000’s)

Plan assets

Beginning = $5760

Actual return = ?

Cash contributions = 696

Less: Retireee benefits = (624)

Ending balance = $6336

Thus after solving this, we get the actual return that is equal to = $504,000

5 0

3 years ago