Business, 27.12.2020 15:40 leahpartaka03

ACCOUNTING QUESTION HELP PLEASE Record the following selected transactions for January in a two‐column journal. Once you have completed that, answer questions 1 – 5 related to your work.

(a) Earned $7,000 fees; customer will pay later.

(b) Purchased equipment for $45,000, paying $20,000 in cash and the remainder on credit

(c) Paid $3,000 for rent for January.

(d) Purchased $2,500 of supplies on account.

(e) A. Allen $1,000 investment in the company.

(f) Received $7,000 in cash for fees earned previously.

(g) Paid $1,200 to creditors on account.

(h) Paid wages of $6,250.

(i) Received $7,150 from customers on account.

(j) A. Allen withdrawal of $1,750.

1. For part (e), which two accounts are affected?

Cash and Fees Earned

Cash and Prepaid Insurance

Cash and Allen, Capital

Cash and Accounts Receivable

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 20:30

At a young age, ebony's coaches were confident she had the potential to be a world-class swimmer with a future coaching career. after four years on an athletic scholarship and olympic experience under her belt, she chose a different path. with her savings and personal connections, she rented a corner building in a bustling san francisco neighborhood and pursued her dream: a surf shop business. ebony's dream was rooted in which basic right of free-market capitalism?

Answers: 3

Answer

Business, 22.06.2019 08:40

Which of the following statements is true regarding the reporting of outside interests and the management of conflicts? investigators are responsible for developing their own management plans for significant financial interests. the institution must report identified financial conflicts of interest to the u.s. office of research integrity. investigators must disclose their significant financial interests related to their institutional responsibilities and not just those related to a particular project. investigators must disclose all of their financial interests regardless of whether they are related to a research project.

Answers: 3

Answer

Business, 22.06.2019 20:40

Spartan credit bank is offering 7.5 percent compounded daily on its savings accounts. you deposit $5,900 today. a. how much will you have in the account in 4 years? (use 365 days a year. do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. how much will you have in the account in 12 years? (use 365 days a year. do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. how much will you have in the account in 19 years?

Answers: 2

Answer

Business, 22.06.2019 20:40

Which of the following would indicate an improvement in a company's financial position, holding other things constant? a. the inventory and total assets turnover ratios both decline.b. the debt ratio increases.c. the profit margin declines.d. the times-interest-earned ratio declines.e. the current and quick ratios both increase.

Answers: 3

Answer

You know the right answer?

ACCOUNTING QUESTION HELP PLEASE Record the following selected transactions for January in a two‐col...

Questions