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2 years ago

Bearcat Construction begins operations in March and has the following transactions.

Business

1 answer:

EleoNora [17]2 years ago

5 0

Answer:

Mar. 1

Dr Cash $16,500

Cr Common stock $16,500

Mar. 5

Dr Cash $8,100

Cr Notes payable $8,100

Mar. 10

Dr Equipment $20,500

Cr Cash $20,500

Mar. 15

Dr Advertising expense .$1,100

Cr Cash $1,100

Mar. 22

Dr Accounts receivable

$17,100

Cr Service revenue $17,100

Mar. 27

Dr Cash $12,100

Cr Accounts receivable $12,100

Mar. 28

Dr Salaries expense $5,100

Cr Cash $5,100

Explanation:

Preparation of the journal entries

Mar. 1

Dr Cash $16,500

Cr Common stock $16,500

Mar. 5

Dr Cash $8,100

Cr Notes payable $8,100

Mar. 10

Dr Equipment $20,500

Cr Cash $20,500

Mar. 15

Dr Advertising expense .$1,100

Cr Cash $1,100

Mar. 22

Dr Accounts receivable

$17,100

Cr Service revenue $17,100

Mar. 27

Dr Cash $12,100

Cr Accounts receivable $12,100

Mar. 28

Dr Salaries expense $5,100

Cr Cash $5,100

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The financial statements of Vaughn Manufacturing Company report net sales of $643100 and accounts receivable of $92000 and $2600

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Answer:

The correct answer is 10.9 times.

Explanation:

According to the scenario, computation of the given data are as follow:-

Average account receivable = (Opening account receivable + Closing accounts receivable) ÷ 2

= ($92,000 + $26,000) ÷ 2

= $118,000 ÷ 2

= $59,000

We can calculate the account receivable turnover by using following formula :-

Accounts receivable turnover = Net sales ÷ Average Account receivable

= $643,100 ÷ $59,000

= 10.9 times

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What aspects of managing your account were probably more difficult before online banking was available?

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Answer:

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3 years ago

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Answer:

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Answer:

Option a

Explanation:

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Answer:

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