FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Journalise any 6 transactions of your choice with imaginary names / transactions / omr
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- ome Edit File View History Bookmarks Profiles Tab Window Help MInbox (2 x MACC101 x (4726) X Account X Account X M Question X WiConnect x Content X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fv Chapter 7 Quiz Saved 4 QS 7-5 (Algo) Identifying the special journal of entry LO P1, P2, P3, P4 Wilcox Electronics uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Identify the journal in which each transaction should be recorded. 12.12 points Transaction Ask a. Purchased inventory for cash b. Sold merchandise for cash c. Sold a building (nonmerchandise) on credit d. Purchased merchandise on credit e. Paid cash to a creditor. f. Purchased store supplies on credit Received cash in payment of customer's account h. Paid off a note payable to the bank with cash. Mc Graw esc ← → с 2 18 Journal tv 甲 G Search or type URL % & ☆arrow_forwardrome Edit File View History D Bookmarks Profiles Tab Window Help G bjs - Google Search C The following financial statem× | iConnect - Home X M Question 17 - Chapter 1 Home ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F%252Fbb.mwcc.edu%2 hapter 1 Homework 17 Part 4 of 5 4.84 points Saved Required information Problem 1-2A (Algo) Computing missing information using accounting knowledge LO A1 [The following information applies to the questions displayed below.] The following financial statement information is from five separate companies. Company A Company B Company C Company D Beginning of year eBook Assets Liabilities $ 36,000 29,520 $ 28,080 19,656 $ 23,040 12,441 $ 64,080 Company E $ 98,280 44,215 ? Ask Print End of year Assets 41,000 29,520 ? 74,620 Liabilities ? 20,073 13,460 35,817 113,160 89,396 Changes during the year References Owner investments 6,000 1,400 9,750 ? 6,500 Net income (loss) 9,470 ? 6,000 11,938 8,608 Owner withdrawals…arrow_forwardHow to I summarize the previous journal entries into these T chart ledgers?arrow_forward
- Journalize the following transactions in the accounts of BBH inc.,arrow_forwardI have answered A-I in the pictures I posted below. I need the answers to J-L.arrow_forwardA Desrnos Scientific Caloulator O Dashboard NWP Assessment Player UI Appl x ducation.wiley.com/was/ui/v2/assessment-player/index.html?launchld%-D45890eae-ca08-4075-a619-cdfdc9fe1785#/question/7 ACC201-01 Welcome - Liferay 9 MLA Citation Gener. Goldlink e Google Keep O Dashboard ou Tube Desmos work 8.5/1 Question 8 of 10 > Prepare an income statement for Splish Brothers Inc. for the year ended December 31, 2017. Splish Brothers Inc. Income Statement For the Year Ended December 31, 2017 Net Income / (Loss) Cost of Goods Sold 2$4 24 up %arrow_forward
- 1537_1&content_id= _43546 1 Guest On January 8, ABC Company purchases Raw material of $42,000 on account On January 30, ABC Company incurs $32,000 of factory labor costs. Of that amount, $27,000 relates to wages payable and $5,000 relates to payroll taxes payable in February 30/1/2020 ABC company incurred the following manufacturing overhead for the month of January: $1500 Depreciation of factory machines $3000 Depreciation of factory building $500 Factory water and electricity bill on account $250 Factory building property taxes will be paid at the end of the year 2020 $200 Factory machines repair on account On January, ABC Company uses $24,000 of direct materials and $6,000 of indirect materials in January On January, the $32,000 total factory labor cost consists of $28,000 of direct labor and $4,000 of indirect labor 7:36 PM 20°C Clear A S O la 11/6/2021arrow_forwardExercise 7-37 (Algo) Prorate Over- or Underapplied Overhead (LO 7-3) Marian Manufacturing (2M) applies manufacturing overhead to jobs based on direct labor costs, For Year 2, 2M estimates its manufacturing overhead to be $422,760 and its direct labor costs to be $813,000. 2M worked on three jobs for the year. Job 2M-1, which was sold during Year 2, had actual direct labor costs of $536,250. Job 2M-2, which was completed but not sold at the end of the year, had actual direct labor costs of $360,750. Job 2M-3, which is still in work-in-process inventory, had actual direct labor costs of $78,000. Actual manufacturing overhead for Year 2 was $540,400. Required: Prepare an entry to allocate over- or underapplied overhead to Work in Process, Finished Goods and Cost of Goods Sold. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.arrow_forwardname the account to be debited and the name of the account to be credited for each transaction. *arrow_forward
- View History Bookmarks Window Help A education.wiley Exam 1 WP NWP Assessment Player UI Application Question 20 of 42 View Policies Current Attempt in Progress The usual sequence of steps in the transaction recording process is: journal ledger → analyze. analyze journal ledger. journal analyze ledger. ledger journal → analyze. Save for Laterarrow_forward1. Enter the transactions in a general journal. Enter transactions from April 1-5 on page 1, April 7-18 on page 2, April 21-29 and the first two entries for April 30 on page 3, and the remaining entries for April 30 on page 4. 2. Post the entries to the general ledger.arrow_forwardYour assistant prepared the following bank reconcillation statement. It appears that the statement Is unacceptable and the task of preparing a proper reconcilation falls upon you. Brandon Company Bank Reconciliation May 31, 2020 Balance per books May 31 $ 9,500 Add: Electronic Fund Transfer $ 1,060 Deposit in transit 2,455 3,515 $13,015 Deduct: Bank charges NSF cheque, Rhonda Teal Outstanding cheques Error in cheque #78: correctly issued and processed by the bank for $762, but incorrectly recorded in the books as $726 (Accounts Payable-Delta Co.) 10 500 1, 8ee 36 2,346 $10,669 9,359 Indicated bank balance Balance per bank statement Discrepancy $ 1,310arrow_forward
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