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3 years ago

Preparing Adjusting Entries, Financial Statements, and Closing Entries

Business

1 answer:

strojnjashka [21]3 years ago

3 0

Answer:

1. Cash (Dr.) $145,850

Sales (Cr.) $145,850

2. Purchases (Dr.) $76,200

Accounts Payable (Cr.) $76,200

3. Accounts Payable (Dr.) $4,100

Cash (Cr.) $4,100

4. Prepaid Rent (Dr.) $24,000

Cash (Cr.) $24,000

5. Wages Expense (Dr.) $12,500

Cash (Cr.) $12,500

Wages Expense (Dr.) $350

Wages Payable (Cr.) $350

6. Depreciation Expense (Dr.) $1,700

Accumulated Depreciation (Cr.) $1,700

Explanation:

Journal entries are recorded for the business transactions. These transaction incurred in the business are recorded in the books of accounts. These journal entries then create Ledger and Trial balance.

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Every month you need to generate and print a group of reports. You decide to display these reports in a batch. What should you d

Murljashka [212]

Answer:

<em>a. Select Process Multiple Reports from the Reports menu.</em>

Explanation:

Quickbooks enables you to print a batch of reports.

One might want to <em>print a series of monthly reports for your files using this function</em> (e.g. monthly Profit and Loss and Balance Sheet reports).

Because Quickbooks is unable to handle several Report Center files, one must start with the Report menu.

To start - Select Multiple Reports from the Reports menu to show a report group.

4 0

3 years ago

According to Gerzema Where are some of the changes that consumers or making when it comes to spending money or buying an item wh

Lunna [17]

Answer: The answer is given below

Explanation:

According to Gerzema, some of the changes that consumers are making when it comes to spending money or buying an item include the idea of using debit cards at the expense of credit cards. This implies that individuals are now paying for goods and services with the money that is already with them.

He also said individuals now go after the “liquid life”, where he said that individuals define success on liquidity and not on having things. He also said individuals look at organization's values and that they're always looking for ways to have value for things they buy. The cause of these are the fact that consumers are being empowered and also wants to improve their economy.

8 0

3 years ago

Disadvantages of being an ill tempered entrepreneur

SSSSS [86.1K]

Answer:

Pessimists often miss the bigger picture.

Pessimism can devolve all too easily into helplessness or hopelessness.

Pessimism can actually create the very situation you fear and resist.

Pessimism may be bad for your mental and physical health.

Explanation:

Hope this helps you

5 0

3 years ago

Where are the details of skills and qualities required for a post usually found? *

bija089 [108]

Answer:

Personal skills and qualities that employers look for in candidates for ... Overall, employers look for job candidates with strong personal skills because ... They are just as, if not more, important to employers, though you'll need a mix of both. ... two employees utilizing their information technology skills working on fixing a tech ...

Explanation:

8 0

3 years ago

On October 1, 2018, Hill Company borrows $20,000 from a local bank. The note has an interest rate of 6% and is due in one year.

Alex Ar [27]

Answer:

Amount of interest = $ 300

Explanation:

Given:

Total number of month = 3 months (Oct, Nov and Dec)

Amount borrow = $20,000

Interest rate = 6%

Find:

Amount of interest

Computation:

Amount of interest = $20,000 x 6% x 3 months / 12 months

Amount of interest = $ 300

8 0

3 years ago