Make the General Journal entry for July

Assignment Help Accounting Basics
Reference no: EM132560826

Question - Alpha Company sold goods to customers who used Under-the-Hill bank credit cards. Credit card sales on July 8, 2016 amounted to $12,000 and were subject to a 2.5% bank fee. Use this information to make the General Journal entry (without explanation) for July 8, 2016. If no entry is required then write "No Entry Required."

Reference no: EM132560826

Questions Cloud

Find what would be the break-even ebit for okr ltd : What would be the break-even EBIT for OKR Ltd? In Plan I an all-equity capital structure, OKR Ltd will have 0.6 million shares outstanding.
What would you discuss with your boss : Management selected you for this expatriate assignment for next three years. Your boss will have a meeting with you next week. What would you discuss with boss
Discuss alex travelling expenses : Discuss whether Alex's travelling expenses between the ABC Engineering workshop and his homebased catering business is an allowable deduction.
Find and discuss casinos prepaid rent is considered : Find and discuss whether casinos prepaid rent is considered a revenue expense or a capital expense, With reference to relevant legislation and case law
Make the General Journal entry for July : Alpha Company sold goods to customers who used Under-the-Hill bank credit cards. Make the General Journal entry (without explanation) for July 8, 2016
What is the break-even level in tires : HASF Tires, Inc. sells tires to service stations for an average of $45 each. What is break-even level in tires, assuming variable costs increase by 30 percent
Comp1447 introduction to oo programming assignment : COMP1447 Introduction to OO Programming Assignment Help and Solution - Create a Piranha class based on the example OrangeFish class in the FishORama project
Compute the amount of cost of goods sold : Compute the amount of cost of goods sold to be reported in the consolidated income statement for 2017 relating to the relevant intra-group sales
What is the interest rate : A tire company advertises a deal of low monthly payments of $45.00 per month, What is the interest rate, assuming simple interest is applied

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the proceeds of learned bonds on january

Calculate the proceeds (issue price) of Learned, Inc.'s, bonds on January 1, 2013, assuming that the bonds were sold to provide a market rate

  Preventative controls

Discuss the nature of preventive controls that may be designed into an AIS. Give an example and explain how it may prevent fraud or abuse of the system.

  Prepare the journal entries to record the sale

The office equipment originally cost $81,640. Prepare the journal entries to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment

  Compute the companywide break-even point in dollar sales

Crossfire Company segments its business into two regions-East and West. Compute the companywide break-even point in dollar sales

  Jon seceda furnace corp purchased machinery for 315000 on

jon seceda furnace corp. purchased machinery for 315000 on may 1 2007. it is estimated that it will have a useful life

  How much will operating income change

Spice inc.'s unit selling price is $51, the unit variable costs are $40, fixed costs are $119,000. How much will operating income change if sales increase

  Fortune brands home and security

Fortune Brands Home & Security, Inc., sells Master Lock padlocks. It reported an increase in net sales from $ 3.3 billion in 2011 to $ 3.6 billion in 2012, and an increase in gross profit from $ 1.0 billion in 2011 to $ 1.2 billion in 2012. Based on ..

  What is the conceptual approach to the quantitative analysis

Conceptual Approach A large automobile-parts plant was constructed 4 years ago in a Pennsylvania city served by two railroads. The PC Railroad purchased 40.

  Calculate the companys unit contribution ratio

Calculate the company's unit contribution margin and calculate the company's unit contribution ratio

  Prepare a statement of cash flows using the direct method

During the year, $100 of common stock was issued in exchange for land. Prepare a statement of cash flows using the direct method

  What are tootsie rolls corporate principles

What are Tootsie Roll's corporate principles?What was the total amount of Tootsie Roll's assets for the most current year available?

  The company records sales to employees net of discounts

The company records sales to employees net of discounts. These discounts totaled $15,000 for the year. Estimate ending inventory and cost of goods sold using the conventional method (average cost and the LCM approximation).

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