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3 years ago

Current Attempt in Progress

Business

1 answer:

Kamila [148]3 years ago

4 0

Answer:

units

Explanation:

Units Unit Cost Total Cost

April 1 inventory 250 $28 $ 7,000

April 15 purchase 350 34 11,900

April 23 purchase 400 36 14,400

1,000 $33,300

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Pearl Company began operations on January 2, 2016. It employs 12 individuals who work 8-hour days and are paid hourly. Each empl

stiv31 [10]

Answer and Explanation:

Pearl Company Journal entries

Account Titles and Explanation Debit Credit

2016

Dr Salaries and wages expense

(12 x 8 x 13 x $13) 16,224

Cr Salaries and wages payable 16,224

Dr Salaries and wages expense

(12x 8 x 8x $13) 9,984

Cr Salaries and wages payable 9,984

Dr Salaries and wages payable

(12x 8 x 5x $13)6,240

Cr Cash 6,240

2017

Dr Salaries and wages expense

(12 x 8 x 13 x $15) 18,720

Cr Salaries and wages payable 18,720

Dr Salaries and wages expense

(12x 8 x 8x $15) 11,520

Cr Salaries and wages payable 11,520

Dr Salaries and wages expense 2,304

Dr Salaries and wages payable

(12 x 8 x 12 x $13) 14,976

Cr Cash

(12 x 8 x 12 x $15) 17,280

Dr Salaries and wages expense 576

Dr Salaries and wages payable

(12 x 8 x 3x $13)+(12 x 8 x 5x $15) 10,944

Cr Cash (12 x 8 x 8 x $15) 11,520

8 0

2 years ago

State for each account whether it is likely to have (a) debit entries only, (b) credit entries only, or (c) both debit and credi

Leya [2.2K]

Answer:

No. Account Type Likely account entries

1. Fees Earned , normal balance is credit (b) Credit entries only

2. Utilities Expense , normal balance is debit (a) Debit entries only

3. Accounts Payable , normal balance is credit (c) both debit and credit entries

4. Supplies , normal balance is debit (c) both debit and credit entries

5. Cash , normal balance is debit (c) both debit and credit entries

6. Accounts Receivable , normal balance is debit (c) both debit and credit entries

Explanation:

Accounts that normally have debit entries include assets (both long-term and current), expenses, and losses. Accounts that normally have credit entries are liabilities, equity, revenue, income or gains. Most accounts have debit and credit entries before their normal balances are indicated. The accounts with debit entries are mainly expenses and losses, while revenues and income have mainly credit entries.

6 0

2 years ago

Selected transactions for Alvarado Company during its first month in business are presented below. Alvarado's chart of accounts

antiseptic1488 [7]

Answer:

cash 10,000 debit

common stock 10,000 credit

equipemnt 12,000 debit

cash 4,000 credit

account payable 8,000 credit

account payable 2,400 debit

cash 2,400 credit

dividends 500 debit

cash 500 credit

Explanation:

To record the events in the journal entry we must make sure debit = credit on eahc of them

Cash, will increase from debit so when cahs enters the company is being debit

when cash leaves the company/ it is used we credited.

8 0

2 years ago

Sumner sold equipment that it uses in its business for $30,800. Sumner bought the equipment a few years ago for $79,600.00 and h

topjm [15]

Answer: $9025 §1231 loss

Explanation:

From the question, we are informed that Sumner sold equipment that it uses in its business for $30,800 and that the equipment was bought a few years ago for $79,600.00 and has claimed $39,775 of depreciation expense.

Assuming this is Sumner's only disposition for the year, the amount and type or character of Sumner's gain or loss goes thus:

The book value of the equipment will be:

= $79600 - $39775

= $39825

Since the equipment is sold for $30,800, the loss will be:

= $39825 - $30800

= $9025

It should be noted that there will be no depreciation recapture because the asset is sold for a loss.

5 0

3 years ago

Choose the correct formula to determine a trend percentage (A) The total income of the current year minus the total income from

kenny6666 [7]

Answer:

(D) An item from any year divided by the same item from a base year, multiplied by 100

Explanation:

To calculate the trend percentate you take the balance sheet of two or more years. Then you will assing the older as a base.

You will start dividing the balance of the other years for the base year and multiply by 100 so it is convert to %

for example if Account Receivable is Y1 5,000 Y2 8,000 and Y3 7,000

you will do:

8000/5000 x 100 = 160%

and

7000/5000 x 100 = 140%

6 0

2 years ago