Entries by Grace Wahito

(TCO 2) Below are the accounts of Super Pool Service, Inc.

February 12, 2020 in /by

(TCO 2) Below are the accounts of Super Pool Service, Inc. The accounts have normal balances on June 30, 2012. The accounts are listed in no particular order.Account                            Balance  Common stock                   $5,100  Accounts payable               $4,400  Service revenue                  $17,100  Land                                  $28,800  Note payable                      $9,500  Cash                                  $5,200  Dividends                           $6,100  Utilities expense                 $2,100  Accounts receivable            $10,600  Delivery expense                $700  Retained earnings               $25,600  Salary expense                   $8,200 Prepare the company’s trial balance as […]

 

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Question 1.1. (TCO 8) Fulbright Corp. uses the periodic inventory system.

February 12, 2020 in /by

Question 1.1. (TCO 8) Fulbright Corp. uses the periodic inventory system. It’s beginning inventory had 10 units @ $100, and they made the following purchases, during the year. (listed in chronological order of acquisition): ·         40 units at $120 ·         70 units at $125     80 units at $130 The sales in units was 120 at $ 180.00 per unit. Determine […]

 

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(TCO 5) Describe what is meant by prepaid expenses

February 12, 2020 in /by

(TCO 5) Describe what is meant by prepaid expenses, and do the following entries: If Sams company, paid rent in advance for 2 years in the amount of $ 10,000, what entries would they record:  1. For the original payment 2. For one month of the expense.   Looking for a Similar Assignment? Order now and Get 10% […]

 

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