Reference no: EM132477285
Selected account balances for Crane Company at January 1, 2020, are presented below.
Accounts Payable $13,100
Accounts Receivable 21,900
Cash 17,600
Inventory 13,500
Point 1: Crane's sales journal for January shows a total of $112,000 in the selling-price column, and its one-column purchases journal for January shows a total of $78,000.
Point 2: The column totals in Crane's cash receipts journal are Cash Dr. $61,900; Sales Discounts Dr. $3,000; Accounts Receivable Cr. $44,300; Sales Revenue Cr. $6,000; and Other Accounts Cr. $14,600.
Point 3: The column totals in Crane's cash payments journal for January are Cash Cr. $54,900; Inventory Cr. $2,300; Accounts Payable Dr. $46,900; and Other Accounts Dr. $10,300. Hulse's total cost of goods sold for January is $62,500.
Point 4: Accounts Payable, Accounts Receivable, Cash, Inventory, and Sales Revenue are not involved in the Other Accounts column in either the cash receipts or cash payments journal, and are not involved in any general journal entries.
Quetsion 1: Compute the January 31 balance for Crane in the following accounts.
a. Accounts Payable $
b. Accounts Receivable $
c. Cash $
d. Inventory $
e. Sales Revenue $
|
Who does the target audience seem to be
: Post a brief description of the ad/campaign/commercial/etc. and a description of its message. Please provide an Internet link to the message itself.
|
|
What is the difference in accounts used in product cost
: What is the difference between a service business and a merchandising business? What is the difference in accounts used in product cost
|
|
Production of an appropriate query sheet
: Dimension paper in accordance with NRM2 for the internal finishes/decoration (floor, wall, ceiling and skirting) and masonry
|
|
Calculate the companys breakeven point in sales dollars
: Assuming the existing sales mix, calculate the sales revenue required to earn net income of $1,125,000 assuming a 25% income tax rate.
|
|
Compute the january balance for crane accounts
: Compute the January 31 balance for Crane accounts. Crane's sales journal for January shows a total of $112,000 in the selling-price column
|
|
What do you think is going wrong in each case
: In the following scenarios, try to imagine the brain of a person with the described head injury. What do you think is going wrong in each case?
|
|
Determine which account should be credited
: Truck is being invested in the business, Truck is coming in as an asset, so it will be debited.But, Determine which account should be credited?
|
|
Explain how external factors affect organisations
: Evaluates the impact of a named organisations vision and mission on its strategy and analyses how external influences affect organisational strategy
|
|
Explain what are prepayments and give an example
: Explain what are accruals and give an example.Explain what are prepayments and give an example. Prepare the below accounts (taking also into account the notes)
|