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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Q18

Transcribed Image Text:What is the correct journal entry to record
when transfer the total of the purchase
daybook the double entry is:
а.
Dr Receivables ledger control
асcount
Cr Sales revenue
Ob.
Dr Purchases
Cr Payables ledger control
account
Ос.
Dr Payables ledger control account
С.
Cr Purchases
d.
Dr Sales revenue.
Cr Receivables ledger control
account
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- Hansen Corporation. a C Corporation (mot a manufacturer) reports the following items in income and expenses for 2021 Gross Revenue $900,000 Dividend Received from 30% owned Corp 200,000 LTCG 30,000 STCL 12000 City of Lee's Summit Bond Interest 10000 COGS 375000 Administrative Expenses 325000 Charitable Contribution 60,000 Compute Hansen's C Corp Taxable income?arrow_forwardhrl.3 answer must be in proper format or i will give down votearrow_forwardThat is not a possible solution. The possible anwsers are --> a. 122329.9877 b. 127159.8450 c. 122132.1253 d. 126907.4914 Please explainarrow_forward
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