User Account

All Pages

Record the transactions in the cash receipts journal

Assignment Help Financial Accounting
Reference no: EM132821552

Riya Cosmetics has provided you with the following information about the transactions that the company incurred during the month of June.

Jun 5 Received $3,000 from a cash sale to Faces Inc. (cost $2,400).
Jun 6 Received $720 from Facial Fresh regarding outstanding accounts receivable.
Jun 10 Received $700 for the cash sale of 5 facial scrubs (cost $630) to Seizers Salon.
Jun 17 Received $115 in interest earned from the Springfield Bank.
Jun 26 Took out a loan of $4,800 from the bank.

Problem 1: Record these transactions in the cash receipts journal.

Reference no: EM132821552

Questions Cloud

How governments can utilize an economic model to prick : How governments can utilize an economic model to prick such stock market bubbles to normalize stock market prices and assist in the development of fiscal policy
Significance of emotion regulation in the workplace : How have you been able to work on regulating your emotions at your place of work? What impact did emotion regulation have on your productivity?
Financial ratios are principal tool of financial analysis : Financial ratios are the principal tool of financial analysis. How are the firms financing their assets?
Significance of emotion regulation at workplace : How have you been able to work upon regulating your emotions at your place of work? What impact did emotion regulation have on your productivity?
Record the transactions in the cash receipts journal : Record these transactions in the cash receipts journal. Received $700 for the cash sale of 5 facial scrubs (cost $630) to Seizers Salon.
Importance of providing exemplary customer service : How does technology and social media increase the importance of providing exemplary customer service?
Hostage crisis : In a hostage crisis, is it ethical for a government to agree to grant a terrorist immunity if he releases the hostages,
What does social responsibility mean to you personally : Do you think business organizations should be socially responsible? What do you think is the best way for managers to ensure their employees act ethically?
Why would a company choose to use weighted average costing : Weighted average costing methods. Why would a company choose to use FIFO costing? Why would a company choose to use weighted average costing?

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the basis of the new machinery

Blue Corporation exchanges machinery with a basis of 200,000 and a FMV of 250,000 for machinery with a FMV of 175,000 and cash of 75,000. What is Blue’s realized gain or loss? What is Blue’s recognized gain or loss? What is the basis of the new machi..

  What would rasta fx equity exposure be

What would Rasta's FX equity exposure be if the company would issue/raise an additional (new) USD 30 million in EUR-denominated debt?

  What the entry to pay the dividend will

Port, Inc. paid a cash dividend on January 2 that had been declared prior to the end of its fiscal year. What The entry to pay the dividend will

  Explain how principles of capital budgeting

Develop a comprehensive analysis using NPV, Payback Method, and IRR to develop a recommendation on replacing the existing equipment with a new computerized version.

  The decision making of a tax preparation firm

Identify each of the following as quantitative or qualitative factors in the decision making of a tax preparation firm:

  What percentage of the total voting rights do hold for anzio

30% of the Class B shares, what percentage of the total voting rights do you hold? The percentage of the total voting rights that you hold is %.

  The fixed charge coverage ratio

The Fixed Charge Coverage Ratio (FCC) can never be greater than Times Interest Earned (TIE). My company uses LIFO to account for its inventory cost flow and it operates in an industry susceptible to typical inflationary pressures. At the end of the y..

  How can write vertical analysis and horizontal analysis

How can write vertical analysis and horizontal analysis for income statement and balance sheet? what is the point that need to concern for financial report?

  What is the discounted pay back period of the project

What is the discounted pay back period of the project? You have been hired as a consultant for Pristine Urban-Tech Zither, Inc. (PUTZ)

  What possible actions can be taken by auditors

After a preliminary assessment has been made of Lakeside's control risk, what possible actions can be taken by the auditors?

  Describe a control procedure that would have pretended

Assume that Corey Jones, account payable clerk for Matthew Davidson Computers, stole $59,456 by paying fictitious invoices for goods that were never received. The clerk set up accounts in the manes of the fictitious companies and cashed the checks at..

  Find what should be the dividend at the end of year seven

Find What should be the dividend at the end of year seven? What is the expected market value of the stock at the end of the sixth year?

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