User Account

All Pages

Enter the July transactions as Journal entries

Assignment Help Financial Accounting
Reference no: EM132982255

Question - Enter the following July transactions as Journal entries:

1-Jul Purchased 5,000 Fish Finder units on Credit from Raydar Marine for $42.00 per unit.

1-Jul Issued 10,000 shares of common stock for $20 per share (Refer to the Chart of Accounts for description of common stock - including # of shares outstanding).

1-Jul Signed a one-year 15%, $216,000 note payable with Boat US Bank.

1-Jul Sold 4,000 Propellers on account to Chris Craft for $85 per units, Invoice #5555.

Reference no: EM132982255

Questions Cloud

Describe how complex a query can get by locating an example : Describe how complex a query can get by locating an example of a complex AdventureWorks query online. Post anexample in the Main Forum.
How much total service department expense : The step method is used to allocate service department costs to producing departments. How much total service department expense
Summarize recommendations on the treatment options : Summarize your recommendations on the treatment options you selected for this patient. Be sure to justify your recommendations
Explore ethical and legal implications of the therapies : List 3 classes of drugs, with a corresponding example for each class, that precipitate insomnia. Explore ethical and legal implications of these therapies.
Enter the July transactions as Journal entries : Enter the following July transactions as Journal entries: 1-Jul Purchased 5,000 Fish Finder units on Credit from Raydar Marine for $42.00 per unit
Describe the appropriate drug therapy for a patient : Explain the appropriate drug therapy for a patient who presents with MDD and a history of alcohol abuse. Which drugs are contraindicated
What small changes have taken place in organization : What small and large changes have taken place in your organization over the last 3-5 years? Were the changes easily accepted or did it take quite some time
Planning of an hrms design : Select three areas of the HR function such as talent acquisition/recruitment; compensation management; benefits administration; training and development; and/or
Describe the importance of the budgeting process : Question - Describe the importance of the budgeting process in a company relative to liquidity, solvency and profitability ratios

Reviews

Write a Review

Financial Accounting Questions & Answers

  Compute the theoretical value of share ex-right

Compute the theoretical value of share ex-right. compute the adjustment factor. compute the basic earnings per share for 2019 and 2020.

  Find how much will stockholders equity change

Strauss' only debt is $2,070,000 to a bank. How much will stockholders' equity change when Strauss borrows $300,000 to purchase equipment?

  Define the terms - Property risk and Personal risk

Kevin is an Accounting Technician at a small accounting firm. Define the following terms using examples from the case study: i. Property risk ii. Personal risk

  What the amount of consolidated cost of goods sold at end

Rose still owes half of the amount of its purchases to Haylay, but had sold all of the inventory it had acquired from Hayley by the end of the year. What the amount of consolidated cost of goods sold at end of the year?

  Transactions during the current period

Somer Co. had these transactions during the current period: June 12 Issued 60,000 shares of $1 par value common stock for cash of $300,000

  What does net income mean on the income statement

What does net income mean on the income statement? If I have enough cash at the end of the month then I assume I made money. This concept of net income seems complicated.

  How much is the initial cost of inventory using net method

How much is the initial cost of inventory using net method? On June 1, 2020, COVID Inc. acquired a raw material inventory with a list price of P5,500 subject

  What is the total cost of job number

Direct labour is paid at a rate of RM8 per hour. Production overheads are absorbed at a rate of RM40 per direct labour hour and non-production overheads are absorbed at a rate of 150% of prime cost. What is the total cost of job number 607?

  What is ending inventory on the balance sheet

Crossbow Corp. produces a single product. Data concerning June's operations follow: Under variable costing, ending inventory on the balance sheet would be valued at: $10,000, $7,000, $9,000 and $12,000.

  What is the total depreciation-amortisation expense

What is the total depreciation/amortisation expense for the capitalised costs for the year ending 30 June 20X7?

  How much depreciation expense should be charged each year

Goodfellow's Floral Shop, Assuming Goodfellow's is using straight line depreciation, how much depreciation expense should be charged each year?

  Analyzing and interpreting pension disclosure

Analyzing and Interpreting Pension Disclosure-Expenses and Returns Stanley Black & Decker, INC. discloses the following pension footnote in its 10-K report. Explain, in general, how expected return on plan assets affects reported pension expense. How..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd