All categories

3 years ago

Information related to Novak Corp. is presented below.

Business

1 answer:

DochEvi [55]3 years ago

6 0

Answer:

April 5

Debit Inventory $28,700

Credit Accounts Payable $28,700

April 6

Debit Inventory $600

Credit Cash $600

April 7

Debit Equipment $29,700

Credit Accounts Payable $30,000

April 8

Debit Accounts Payable $3,400

Credit Inventory $3,400

April 15

Debit Accounts Payable $25,300

Credit Cash $24,541

Credit Inventory $759

Explanation:

Preparation of the journal entries to record these transactions on the books of Harwick Co. under a perpetual inventory system

April 5

Debit Inventory $28,700

Credit Accounts Payable $28,700

April 6

Debit Inventory $600

Credit Cash $600

April 7

Debit Equipment $29,700

Credit Accounts Payable $30,000

April 8

Debit Accounts Payable $3,400

Credit Inventory $3,400

April 15

Debit Accounts Payable $25,300 ($28,700-$3,400)

Credit Cash $24,541

($25,300 x 97%)

Credit Inventory $759

($25,300 x 3%)

You might be interested in

How do you calculate net gdp

Svetlanka [38]

Answer:

you would calculated by total national income + sales taxes + depreciation + net foreign factor income total (just Google it)

5 0

4 years ago

Heating & cooling installs and services commercial heating and cooling systems. elklandelkland uses job costing to calculat

Artyom0805 [142]

Answer:

The predetermined overhead rate is calculated by dividing total estimated overhead costs by total estimated direct labor hours = $61,500 / 4,100 labor hours = $15 per direct labor hours
total overhead rate for job 102 = 72 direct labor hours x $15 per direct labor hours = $1,080
total overhead rate for job 101 = 155 direct labor hours x $15 per direct labor hours = $2,325.

7 0

3 years ago

Dividends to common stockholders are

posledela

Interest paid to the share holder of a specific company that offers a dividend. (note: not all companies pay dividends).

3 0

4 years ago

A financial advisor cold calling lead a prospect mentions that he manages his own portfolio and hasn't used an advisor in the pa

svetoff [14.1K]

The financial advisor who just found out that the prospect manages his own portfolio should Ask if there’s a reason he hasn’t used an advisor in the past.

<h3>What should a financial advisor do?</h3>

The financial advisor should start by finding out if there is a reason why the prospect has never had a financial advisor.

This will help him decide how to proceed in terms of offering the prospect their services.

Find out more on financial advisors at brainly.com/question/22718634.

5 0

2 years ago

Pixel Copies recorded a cash collection on account by debiting Cash and crediting Accounts Payable. What will the trial balance

velikii [3]

Answer:

Overstatement of Assets and liabilities.

Explanation:

Collection of cash results in journal entry of debiting cash with corresponding credit to accounts receivable thus reducing the accounts receivable.

Erroneous credit to accounts payable instead of accounts receivable results in overstatement of assets and liabilities.

4 0

3 years ago