What would be the amount to debit as a posting to accounts

Assignment Help Accounting Basics
Reference no: EM132779336

During? July, the following transactions? occurred:

July 1 - Purchased? $11,600 of merchandise on account.

July 10 - Purchased? $1,200 of merchandise with cash.

July 15 - Purchased? $1,700 of office supplies on account.

July 20 - Made a payment of? $5,200 on accounts payable.  

July 30 - Purchased? $600 of office supplies with cash.  

Problem 1: Assume a perpetual inventory system is used. What would be the amount to debit as a posting to Accounts Payable from the cash payments journal at the end of the? month?

Reference no: EM132779336

Questions Cloud

What is the net present value of this project : Variable costs are $3,000,000 and fixed costs are $2,500,000 per year. What is the Net Present Value (NPV) of this project
How much is net income for mansfield corp : Torres Corp has total debt of $9m, total assets of $15m and sales of $30m. If the profit margin is 5%, what is ROE? How much is Net Income
Best safety practices for fire safety : Compare and contrast the four priorities for best safety practices for fire safety discussed in the unit.
Reduce the risk of fire during the design phase : Summarize the components in a building that can be used to reduce the risk of fire during the design phase.
What would be the amount to debit as a posting to accounts : Assume a perpetual inventory system is used. What would be the amount to debit as a posting to Accounts Payable from the cash payments journal
Specific cultural aspects will impact negotiation process : Identifying the ways in which country-specific cultural aspects will impact the negotiation process.
What is the gross pay for martin : What is the gross pay for Martin? Thomas Martin receives an hourly wage rate of $15, with time and a half for all hours worked in excess of 40 hours
Creating a service company master budget : Describe the process for creating a service company master budget. How would the budget process for the service company differ from a manufacturing company
International business negotiations : Culture influences the negotiation styles that are used in international business negotiations.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Envision inc purchased 3800 shares of common stock for the

envision inc. purchased 3800 shares of common stock for the treasury at 17 per share. a month later envision sold 2100

  Compute depreciation expense for both years ending december

Compute depreciation expense for both years ending December 2016 and 2017 assuming the company uses the straight-line method

  Describe how managers of that company might use

describe how managers of that company might use managerial accounting information

  A multiple-step income statement

Dickinson Company decided to discontinue its entire wholesale operations and to retain its manufacturing operations. On September 15, Dickinson sold the wholesale operations to Rogers Company. During 2014, there were 493,400 shares of common stock ou..

  Prepare Pito income tax journal entry at the end

Pito Company has been in operation for several years. Prepare Pito's income tax journal entry at the end of 2016

  Shareholders of the conceptual framework

Discuss the importance to shareholders of the conceptual framework for corporate risk disclosure that is made explicit in the Turnbull Report.

  Prepare vaughn journal entries for the january issuance

Prepare Vaughn's journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry

  Calculate Red DPAD for the current year

Last year, Red had an NOL of $800,000, which Red elected to carry forward. Calculate Red's DPAD for the current year

  Compute Wade failure to pay penalty

Wade filed his Federal income tax return on time but did not remit the balance due. Compute Wade's failure to pay penalty in each of the following cases

  What is wrong with the closing entries

Dividends Declared 3,200 Income Summary 3,200. What is wrong with the closing entries above by preparing the correct closing entries

  Prepare a bank reconciliation for the month of october

The Fitzgerald Company maintains a checking account at the Bank of the North. Prepare a Bank reconciliation for the month of October

  Prepare the companys statement of retained earnings

Prepare the company's income statement and prepare the company's statement of retained earnings

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