1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lesantik [10]
2 years ago
7

On May 7, Jernigan Company purchased on account 510 units of raw materials at $18 per unit. During May, raw materials were requi

sitioned for production as follows: 153 units for Job 200 at $15 per unit and 158 units for Job 305 at $18 per unit.
Required:
Journalize the entry on May 7 to record the purchase.
Business
1 answer:
Paladinen [302]2 years ago
3 0

Answer and Explanation:

The journal entry to record the purchase is shown below;

Materials (510 units × $18) $9,180

          To Accounts payable $9,180

(To record the purchases)

Here the material is debited as it increased the assets and credited the account payable as it also increased the liabilities

Therefore the above journal entry should be passed

You might be interested in
1.2 Explain the concept of the labour market to a Grade 12 school-leaver. Give a
Marianna [84]

Answer:

The labor market is the phrase used to describe the supply of labor by employees and demand of labor by the employers as such there is an interaction between the workers and the employers where wage is paid to the workers by the employers for the labor the workers supplied

Being educated gives an employee the capacity to be more productive and gives an indication of the potential of prospective employees to recruiters and employers. Therefore, qualifications attained are an advantage when seeking employment alongside many several other job seekers

Therefore, a grade 12 school-leaver competing for a job alongside several others with similar or tertiary education is less likely to secure a desired job or vocation

However, with a tertiary education, such job seekers would more readily convince recruiters about their ability to satisfactorily perform their desired job

Explanation:

6 0
2 years ago
Toyota marketed its RAV4 hybrid model to a distinct segment of consumers as an adventurous, sporty hybrid that stands out as bei
pychu [463]

Answer:

the marketing mix variable—place

Explanation: this easy bc u just see what the variablie to the mix is times that

3 0
2 years ago
Each of the following independent events requires a year-end adjusting entry. Show how each event and its related adjusting entr
Tatiana [17]

Answer:

1. Prepaid insurance (Dr.) $6,300

  Cash (Cr.) $6,300

2. Cash (Dr.) $15,300

   Unearned Income (Cr.) $15,300

3. Purchases (Dr.) $1,750

   Accounts payable (Cr.) $1,750

   Cost of Goods Sold (Dr.) $1,620

   Ending Inventory (Dr.) $130

   Purchases (Cr.) $1,750

4. Prepaid office rent (Dr.) $6,300

   Cash (Cr.) $6,300

Explanation:

The adjusting entry is a journal entry recorded at end of accounting period to adjust events or transactions to comply with the accrual concept.

The closing entries are journal entries required to close a transaction or event in the period. The purpose is to follow matching concept of accounting.

7 0
3 years ago
every spring, motorists do more driving than during the winter months. every spring, the price of gasoline increases and the mot
Vladimir [108]
Demand is driving up the price
5 0
2 years ago
The idea that the white race is superior to other races is called
Bad White [126]

Answer:

racism

Explanation:

4 0
2 years ago
Read 2 more answers
Other questions:
  • What would you do as CEO to support the goals of Japan Airlines during the challenging economics that airlines face? a. Call emp
    10·1 answer
  • Acme Corporation (Scenario) Acme Corporation's management feels that employees could be more motivated by their jobs. The jobs w
    14·1 answer
  • Western auto inc. pays a​ $1.77 preferred dividend every quarter and will maintain this policy forever. what price should you pa
    9·1 answer
  • The Company uses a periodic inventory system. For specific identification, ending inventory consists of 215 units, where 190 are
    6·1 answer
  • A(n) _____ is a network based on web technologies that allows selected outsiders, such as business partners and customers, to ac
    10·1 answer
  • A single person making $20,000 would pay ________ per cent on $7,550 and 15% on the remainder..
    13·1 answer
  • When a famous painting becomes available for sale, it is often known which museum or collector will be the likely winner. Yet, t
    10·1 answer
  • Selected information from Jacklyn Hyde Corporation's accounting records and financial statements for 2021 is as follows ($ in mi
    5·1 answer
  • A machine cost $1,200,000, has annual depreciation of $200,000, and has accumulated depreciation of $950,000 on December 31, 202
    9·1 answer
  • Simon bought a computer and made monthly payments. by the end of the month, simon had no money left for groceries. which step in
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!