Business, 13.05.2021 22:10 gage1963

S5B-16 Journalizing closing entries—periodic inventory system D & B Printing Supplies’s accounting records include the following accounts at
December 31, 2018.
Purchases $ 193,200 Accumulated Depreciation—Building $ 22,000
Accounts Payable 7,800 Cash 21,700
Rent Expense 8,500 Sales Revenue 296,100
Building 44,100 Depreciation Expense—Building 4,500
Common Stock 58,000 Dividends 29,400
Retained Earnings 4,100 Interest Expense 2,600
Merchandise Inventory, Beginning 120,000 Merchandise Inventory, Ending 103,100
Notes Payable 12,100 Purchase Returns and Allowances 21,200
Purchase Discounts 2,700
Requirements
1. Journalize the required closing entries for D & B Printing Supplies assuming that
D & B uses the periodic inventory system.
2. Determine the ending balance in the Retained Earnings account.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 19:00

Spirula trading inc sublets a part of its offices building to jade inc. for a period of ten years . where will the company disclose this information?

Answers: 3

Answer

Business, 22.06.2019 08:10

Bakery has bought 250 pounds of muffin dough. they want to make waffles or muffins in half-dozen packs out of it. half a dozen of muffins requires 1 lb of dough and a pack of waffles uses 3/4 lb of dough. it take bakers 6 minutes to make a half-dozen of waffles and 3 minutes to make a half-dozen of muffins. their profit will be $1.50 on each pack of waffles and $2.00 on each pack of muffins. how many of each should they make to maximize profit, if they have just 20 hours to do everything?

Answers: 3

Answer

Business, 22.06.2019 14:30

What’s the present value of a perpetuity that pays $250 per year if the appropriate interest rate is 5%? $4,750 $5,000 $5,250 $5,513 $5,788what is the present value of the following cash flow stream at a rate of 8.0%, rounded to the nearest dollar? cash flows: today (t = 0) it is $750, after one year (t = 1) it is $2,450, at t = 2 it is $3,175, and at t=3 it is $4,400. draw a time line. $7,917 $8,333 $8,772 $9,233 $9,695

Answers: 2

Answer

Business, 22.06.2019 20:30

1. what is the lowest balance during this period? 2. lily just received her bank statement below. a. what does the bank think her ending balance is? b. how much more does the bank think lily has? c. what transactions are missing? 3. what is the danger of not balancing your bank account? lily’s bank statement deposits: 2/25 $35 2/26 $20 3/1 $256.32 checks: 2/24 ck #301 $25 2/26 #302 $150 debit card: 2/24 american eagle $75.48 2/25 chick fa la $4.67 2/27 mcdonalds $3.56 2/28 chevron $34.76 withdrawal: 2/27 $40 beginning balance $423.34 deposits $311.32 total debits $333.47 ending balance $401.19

Answers: 1

Answer

You know the right answer?

S5B-16 Journalizing closing entries—periodic inventory system D & B Printing Supplies’s account...

Questions