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- What are the following journal entries of the following? MISCELLANEOUS EXPENSES ( VAT INCLUSIVE ) Promotional expenses 25,145.28 Paid Site Tripping Expenses ( Non-Vatable) 12,419.00 6,892.00 Paid Office Supplies 4,274.47 Paid Travel and Transportation ( Non-Vatable) 2,590.00 3,412.50 1,784.45 Paid Postage and mailing 767.38 447.22 Paid Miscellaneous ( Non-Vatable) 5,619.49 Paid Bank Penalties ( Non-Vatable) 5,000.00 2,000.00 8,000.00 Paid; (Auto Debit) Penalties - Late Payment ( Non-Vatable) 1,000.00 PAIDRaw materials purchased on account, $60,000. Date Debit Credit $An involce for $10,000 dated September 10 with terms 3/10, 12/20, n/30, EOM is recelved in the mail on September 25. A payment of $4000 is sent on October 11. What is the outstanding balance? Multiple Choice $5940.00 $5939.09 $6000.00 $5920.00 $5918.37
- PA3. 12.2 Review the following transactions, and prepare any necessary journal entries for Renovation Goods. A. On May 12, Renovation Goods purchases 750 square feet of flooring (Flooring Inventory) at $3.00 per square foot from a supplier, on credit. Terms of the purchase are 2/10, n/30 from the invoice date of May 12. B. On May 15, Renovation Goods purchases 200 measuring tapes (Tape Inventory) at $5.75 per tape from a supplier, on credit. Terms of the purchase are 4/15, n/60 from the invoice date of May 15. C. On May 22, Renovation Goods pays cash for the amount due to the flooring supplier from the May 12 transaction. D. On June 3, Renovation Goods pays cash for the amount due to the tape supplier from the May 15 transaction.The invoice date for a bill is July 27 with the terms 4/10 EOM. The amount due on the invoice is $323.80. If the bill was paid on September 9, determine the amount due. A.$323.80 B.$291.42 C.$310.85 D.$336.70Prepare journal entries to record the following transactions. A. November 19, purchased merchandise inventory, on account, $12,000 B. November 29, paid creditor for part of November 19 purchase, $10,000
- Journal entry? Feb. 23. Sold merchandise on account to Dr. Judith Salazar, $41,500. The cost of the merchandise sold was $22,300.1. Record journal entries for the following transactions of Furniture Warehouse. A. Aug. 3: Sold 15 couches at $114 each to a customer, credit terms 4/15, n/30, invoice date August 3; the couches cost Furniture Warehouse $14 each. B. Aug. 8: Customer returned 2 couches for a full refund. The merchandise was in sellable condition at the original cost. C. Aug. 18: Customer paid their account in full with cash.Complete the General Journal using the appropriate account names below: (note GST is 10%) Cash (101) Accounts Receivable (102) Inventory (103) Office Supplies (104) GST Paid (111) Prepaid Insurance (141) Prepaid Rent (142) Interest Receivable (143) Computer Equipment (151) Accum. Depreciation - Computer Equipment (152) Office Furniture (155) Accum. Depreciation - Office Furniture (156) Motor vehicle (158) Accum. Depreciation - Motor Vehicle (159) Accounts Payable (201) GST Collected (222) Interest Due (240) Unearned Revenue (241) Wages Payable (242) Utilities Payable (243) Consulting Fees Payable (244) Bank Loan (251) PAYG Withheld (261) Capital (301) Drawings (302) Sales Revenue (401) Service Revenue (402) Interest Revenue (403) Cost of Goods Sold (501) Computer Expense (601) Office Supplies Expense (602) Interest Expense (603) Consulting Expense (604) Insurance Expense (605) Rent Expense (606) Sales Commission Expense (607) Utilities Expense (608) Wage Expense (609) Advertising…
- Jan. 3 Sold merchandise on account to R. Martinez, invoice no. 101, $153.50 plus sales tax of $12.28.Prepare the following journal entries. a. sales on account are $ 8,200. b.customer returns $ 1,200.The cashier prop the accounts receivable clerk h. The bank reconciliation is prepared by the cas of the treasurer. Indicate whether each of the procedures of internal control over cash represents Instructions (1) a strength or (2) a weakness. For each weakness, indicate why it exists. OBJ. 3,6 PR 8-2A Cactus Restoration Company completed the following selected transactions during Transactions for petty cash, cash short and over May 2016: see Oct. 1. Established a petty cash fund of $750. Inmi 12. The cash sales for the day, according to the cash register records, totaled $12,440 The actual cash received from cash sales was $12,465. 31. Petty cash on hand was $157. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: