User Account

All Pages

Which was beginning balance

Assignment Help Accounting Basics
Reference no: EM132803906

problem 1: If accounts receivable has a debit postings of P 580,000, credit postings of P 440,000 and a normal ending balance of P 480,000, which of the following was its beginning balance?

Option 1: P 340,000 Credit

Option 2: P 620,000 Credit

Option 3: P 340,000 Debit

Option 4: P 620,000 Debit

Reference no: EM132803906

Questions Cloud

What might be some items of concern for greg as completes : It is April 30th, What might be some items of concern for Greg as he completes the bank reconciliation (include possible journal entries)?
Implication to the organization competitive advantage : Evaluate the IT Directors proposal to address the operational challenges and suggest which Operating Model (Coordination, Unification, Diversification
What is the amount of borrowing costs : The entity's long-term debt and related interest rates as follows: Bank loan, 5% $60,000,000. What is the amount of borrowing costs
What observable stress did you see in fellow workers : Think of an organization where you have worked. If you have not yet worked in the human services field, any organization will do, even a fast-food.
Which was beginning balance : Which was its beginning balance? If accounts receivable has a debit postings of P 580,000, credit postings of P 440,000 and a normal ending balance
Calculate the minimum taxable capital gain : The original cost of the land was $100,000. Selling costs totaled $15,000. The land qualifies as capital property. Calculate the minimum taxable capital gain
Prepare the necessary adjusting entries at the end of month : Prepare the necessary adjusting entries at the end of the month of July. On 1 July, rent of $3,600 for the 6-month period ending 31 December is paid.
What is the maximum deduction that would be allowed : A taxpayer recognized a $40,000 loss in 2020 from a small farm. What is the maximum deduction that would be allowed from the farm loss for the 2020 tax year
What is it meant by the unity of command : What is it meant by the unity of command? By the scalar principle? Can an organization have one without the other? explain?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss about non-recognition of business activities

Which accounting method, recognition or non-recognition of business activities as accountable events? The response must be typed.

  What is the minimum amount of segment revenue in order

What is the minimum amount of segment revenue in order that a division can be considered a reportable segment? Sales to unaffiliated customers 20,000,000

  What is the estimated NPV of the project

What is the estimated NPV of the project if the after-tax cost of capital (discount rate) is 12%? Use the built-in NPV function in Excel

  Starling co is considering disposing of a machine with a

starling co. is considering disposing of a machine with a book value of 12500 and estimated remaining life of five

  Calculate the break-even in number of cookies per day

You will analyze and classify the costs of your cookie company and evaluate contribution margin - calculate the break-even in number of cookies per day. What is the break-even in sales dollars each day? How many cookies must you sell in o..

  How many units of item x should be ordered each time

How many units of Item X should be ordered each time? How much would be Item X's total annual purchasing cost? When should Item X be ordered?

  What amount should be reported in the balance sheet

What amount should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2017

  What is the amount of Campbell taxable income

This amount included book depreciation of $50,000. The related tax depreciation was $65,000. What is the amount of Campbell taxable income

  Prepare the appropriate journal entry to record compensation

On January 1, 2011, options were granted for 40 million $1 par common shares. Prepare the appropriate journal entry to record compensation expense

  How stock price of two companies are expected to be affected

How stock price of two companies are expected to be affected. COS and MS are two listed competing shipping companies in the US.

  Prepare a multi ste income statement for internal reporting

Prepare a multi step income statement for internal reporting purposes, stopping at the gross profit subtotal. Use a separate column to report each year's results, similar to Exhibit 6.9. Analyze the information to identify two observations that lead ..

  Cost formula relevant for range 15000 to 25000 machine

Flexible Budget 25% Cost Formula to calculate Manufacturing Overhead Emory Company as follow. Cost Formula relevant for range 15,000 to 25,000 machine hours annually. Make flexible budget for increment 5,000 machine hours. Calculate all expenses into..

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