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2 years ago

Record the following transactions for Summer Consulting. Explanations are not required.

Business

1 answer:

Anvisha [2.4K]2 years ago

8 0

Answer:

Apr. 15

Dr Accounts Receivable—Jones $1,500

Cr Service Revenue $1,500

Apr. 18

Dr Accounts Receivable—Cruise $865

Cr Service Revenue $865

Apr. 25

Dr Cash $750

Cr Accounts Receivable—Jones $750

Apr. 28

Dr Accounts Receivable—Taylor $625

Cr Service Revenue $625

Apr. 28

Dr Cash $865

Cr Accounts Receivable—Cruise $865

Apr. 30

Dr Cash $1,375

Cr Accounts Receivable—Jones $750

Cr Accounts Receivable—Taylor $625

Explanation:

Preparation of journal entries

Apr. 15

Dr Accounts Receivable—Jones $1,500

Cr Service Revenue $1,500

Apr. 18

Dr Accounts Receivable—Cruise $865

Cr Service Revenue $865

Apr. 25

Dr Cash $750

Cr Accounts Receivable—Jones $750

Apr. 28

Dr Accounts Receivable—Taylor $625

Cr Service Revenue $625

Apr. 28

Dr Cash $865

Cr Accounts Receivable—Cruise $865

Apr. 30

Dr Cash $1,375

Cr Accounts Receivable—Jones $750

Cr Accounts Receivable—Taylor $625

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Answer:

a documenting and sharing a risk

Explanation:

In the world of risk management, there are four main strategies:

Avoid it.

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3 years ago

Novak Corporation is preparing its 2020 statement of cash flows, using the indirect method. Presented below is a list of items t

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Answer:

Code Transaction

_P-I a. Purchase of land and building.

A. b. Decrease in accounts receivable.

R-F c. Issuance of stock.

A. d. Depreciation expense.

R-I e.Sale of land at book value.

R-I f. Sale of land at a gain.

P-F g. Payment of dividends.

D h. Increase in accounts receivable

P-I i. Purchase of available-for-sale debt investment.

A j. Increase in accounts payable.

D k. Decrease in accounts payable.

R-F l. Loan from bank by signing note.

N m. Purchase of equipment using a note.

D n. Increase in inventory.

R-F o. Issuance of bonds

P-F p. Redemption of bonds payable.

R-I q. Sale of equipment at a loss.

P-I r. Purchase of treasury stock.

Explanation:

Cash flow is categorized into three sections: operating, investing and financing activities.

Operating activities comprise of all cash activities relating to cash received from customers and cash paid to suppliers and other cash used in operation during the period.

Investing activities comprise of all cash activities relating to acquisition and disposal of assets and other investment.

Financing activities comprise of all cash activities relating to suppliers of capital, including both equity owners and debt holders.

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3 years ago

If the value of beach-front property in beach city decreases, initially the people of beach city will likely spend _____, causin

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Learn more about the property at

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2 years ago

As a director it's my responsibility to make my organization in state of compliance at each and every audit of country. Here in

BARSIC [14]

Answer and Explanation:

As a director it's my responsibility to make my organisation in state of compliance at each and every audit of country. Here in one of my center we are keeping records and all document in consistent and manageable manner but other facility we are acquiring is not too much correct in documentations.

Lack point

1. Online documentation is not mentioned as laws

2. Laws are not so strick to make all document in audit trail

3. All the document they are producing is not viewed by the auditor hence system become so loose.

4. As per timeline these laws are not revise due to which soohisticated system is not generated

5. All laws in such away that it can be easily breakup by the authority

6. Due to which one institute is within the set of compliance but other one is not.

7. Traceability is not there which create question on authority.

My steps

1. Training to individual about importance of documentation

2. Meeting with all experts

3. Periodic training to everyone

4. Implementation of audit trail software

5. Privileged group generation

6. Failure identification and analysis

7. Blockage on sharing of documentation without authority

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3 years ago

Why do some companies use travel agent to set up their travel arrangements

Elena-2011 [213]

Some companies use travel agents to set up their travel arrangement because they reduce the time needed to make the arrangements by themselves as well as it reduces the cost that they would have incurred hiring the expertise in the travel departments. Travel agents have a wide expertise in that field since they have personnel who are professionals in those fields.

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