How Reha record these transactions in the general journals

Assignment Help Accounting Basics
Reference no: EM132601997

Question - PB&J Cafe has the following transactions that need to be recorded:

On April 7, 2019, $250 for peanuts the cafe purchased from The Peanut Gallery to make its patented peanut butter.

On April 30, 2019 $375 For Rover's Sake paid for catering a corporate event.

How would Reha record these transactions in the general journals for these accounts? Why does she need to keep separate general journals for each account?

Reference no: EM132601997

Questions Cloud

Find the company discount rate is five percent : Buffalo's Steelers Inc. (MSI) is a steel manufacturing company, Find the company's discount rate is 5% and MSI reports under IFRS with a December 31 year-end.
How much income must Dave report for the tax year : In the current year, the DOE LLC received revenues of $300,000, How much income must Dave report for the tax year and what is the character of the income
Determine type of intellectual property protection : Determine the type of intellectual property protection you will need to pursue for that asset
How do calculate the amount of dividends to be paid : How do Calculate the amount of dividends to be paid to each group of shareholders (i.e. preferred and common), assuming the preferred shares are cumulative)
How Reha record these transactions in the general journals : How would Reha record these transactions in the general journals for these accounts? Why does she need to keep separate general journals for each account
Prepare a continuity schedule for the plan assets : Prepare a continuity schedule for the plan assets for 2020. Is the pension plan overfunded or underfunded for the year ended December 31, 2020? By how much?
Evaluate resources and actions required for implementation : Determine factors affecting decision implementation. Evaluate resources and actions required for implementation.
ITECH1102 Networking and Security Assignment : ITECH1102 Networking and Security Assignment Help and Solution, Federation University - Assessment Writing Service - Investigate LinuxLite Graphical User
Compute the amount of gain or loss for hudson pension plan : Question - Net Gain or Loss - Compute the amount of the gain or loss for Hudson's pension plan at the beginning of 2016

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the total book-tax difference

What is the total book-tax difference associated with depreciation and the gain on sale? Is it favorable or unfavorable

  What are some aspects of cost volume profit

Then answer the question "What are some aspects of cost volume profit that may have been at play that led to the closure of this business?"

  Describes the effect of the adjustment on the other account

If the effect of an adjustment is to increase the balance of an asset account, which of the following statements describes the effect of the adjustment?

  Determine the values of stocks and bonds

Financial management is about to explain what managers can do to make their companies more valuable. Managers must understand how investors determine the values of stocks and bonds if they are to identify, evaluate and implement projects that meet..

  What is the sarbanes-oxley act

What is the Sarbanes-Oxley Act? How does act affect the audits for the accounting firm and for the organization

  Journal entry to record item of loxley corporation

Loxley Corporation is authorized to issue 50,000 shares of $10 par value common stock. During 2010, Loxley took part in the following selected transactions.

  What is harry basis in his new business

Harry purchases a business. The purchase agreement stipulates the following: Buyer pays $5,000 cash. What is Harry's basis in his new business

  Discuss the advantages and disadvantages of using machine

hurst mats manufactures custom replacement floor mats for automobiles. the floor mats are made of spun nylon on highly

  In its first month of operations giffin company made three

in its first month of operations giffin company made three purchases of merchandise in the following sequence 1 300

  Would you accept the control as working properly

You perform a nonstatistical test of control. The acceptable risk of assessing control risk. Would you accept the control as working properly? Why or why not?

  Calculate williams maximum depreciation deduction

Calculate William's maximum depreciation deduction for 2019, assuming he uses the automobile 100 percent in his business

  Assume that hitech is currently using a volume-based

assume that hitech is currently using a volume-based costing system with manufacturing overhead applied to products

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!

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