Business, 06.04.2020 22:32 friendsalwaysbae

Leach Inc. experienced the following events for the first two years of its operations:

2016:
1. Issued $18,000 of common stock for cash.
2. Provided $86,800 of services on account.
3. Provided $44,000 of services and received cash.
4. Collected $77,000 cash from accounts receivable.
5. Paid $46,000 of salaries expense for the year.
6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts receivable balance will be uncollectible.

2017:
1. Wrote off an uncollectible account for $750.
2. Provided $96,000 of services on account.
3. Provided $40,000 of services and collected cash.
4. Collected $89,000 cash from accounts receivable.
5. Paid $73,000 of salaries expense for the year.
6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts receivable balance will be uncollectible.

Required:
(a) Record 2016 events in the general journal form and post them to T-accounts.
(b) Repeat part (a) for 2017.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 16:00

Which type of investment offers both capital gains and interest income? a. property b. cds c. stocks d. bonds

Answers: 2

Answer

Business, 21.06.2019 23:30

Acompany is developing a new highperformance wax for cross country ski racing. in order to justify the price marketingwants, the wax needs to be very fast. specifically, the mean time to finish their standard test course should be less thanseconds for a former olympic champion. to test it, the champion will ski the course 8 times. the champion's times(selected at random) are 59.9 61.9 48.8 52.2 46.6 45.3 50.6 and 41.1 seconds to complete the test course. complete parts a and b below.a) should they market the wax? assume the assumptions and conditions for appropriate hypothesis testing are metfor the sample.assume=0.05. what are the null and alternative hypotheses? choose the correct answer below.b) suppose they decide not to market the wax after the test, but it turns out that the wax really does lower the champion'saverage time to less thanseconds. what kind of error have they made? explain the impact to the company of such anerror.

Answers: 2

Answer

Business, 22.06.2019 05:10

1. the political environment in india has proven to be critical to company performance for both pepsico and coca-cola india. what specific aspects of the political environment have played key roles? could these effects have been anticipated prior to market entry? if not, could developments in the political arena have been handled better by each company? 2. timing of entry into the indian market brought different results for pepsico and coca-cola india. what benefits or disadvantages accrued as a result of earlier or later market entry? 3. the indian market is enormous in terms of population and geography. how have the two companies responded to the sheer scale of operations in india in terms of product policies, promotional activities, pricing policies, and distribution arrangements? 4. “global localization” (glocalization) is a policy that both companies have implemented successfully. give examples for each company from the case.

Answers: 1

Answer

Business, 22.06.2019 05:40

According to the philosopher immanuel kant, the right of employees to know the nature of the job they are being hired to do and the obligation of a company not to deceive them in this respect is mainly reflective of the basic right of . privac yb. free consentc. freedom of speechd. freedom of consciencee. first refusal

Answers: 1

Answer

You know the right answer?

Leach Inc. experienced the following events for the first two years of its operations:

...

Questions