The following events apply to Montgomery Company for Year 1, its first year of operation:. 1. Received cash of $36,000 from the issue of common stock.
2. Performed $48,000 of services on account.
3. Incurred $6,500 of other operating expenses on account.
4. Paid $21,000 cash for salaries expense.
5. Collected $34,500 of accounts receivable.
6. Paid a $3,000 dividend to the stockholders.
7. Performed $9,500 of services for cash.
8. Paid $5,500 of the accounts payable.
Required:
a. Record the preceding transactions in general journal form.
b. Post the entries to T-accounts and determine the ending balance in each account
c. & d. Determine the amount of total assets at the end of Year 1, and the amount of net income for Year 1.

On september 12, ryan company sold merchandise in the amount of $5,800 to johnson company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. ryan uses the periodic inventory system and the net method of accounting for sales. on september 14, johnson returns some of the non-defective merchandise, which is restored to inventory. the selling price of the returned merchandise is $500 and the cost of the merchandise returned is $350. the entry or entries that ryan must make on september 14 is (are): multiple choice sales returns and allowances 490 accounts receivable 490 merchandise inventory 350 cost of goods sold 350 sales returns and allowances 490 accounts receivable 490 sales returns and allowances 500 accounts receivable 500 sales returns and allowances 490 accounts receivable 490 merchandise inventory 343 cost of goods sold 343 sales returns and allowances 350 accounts receivable 350

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The different concepts in the architecture operating model are aligned with how the business chooses to integrate and standardize with an enterprise solution. in the the technology solution shares data across the enterprise.