Entries by mary WAMBUGU

Alpha Company was preparing its month-end bank reconciliation. The cash balance per the general ledger was $1,645.

August 30, 2019 in /by

Alpha Company was preparing its month-end bank reconciliation. The cash balance per the general ledger was $1,645. Alpha’s accountant discovered that the bank had charged $15 in service charges for the month, that outstanding checks were $60, and that there were no deposits in transit. What is the correct adjusted ending cash balance?   Looking […]

 

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Alpha Company made a lump sum purchase of land, building, and equipment. The following were the appraised values of each element: PP&E Element

August 30, 2019 in /by

Alpha Company made a lump sum purchase of land, building, and equipment. The following were the appraised values of each element: PP&E Element Amount Land $10,000 Building 20,000 Equipment 30,000 Alpha paid $45,000 cash for the lump sum purchase. What value should be allocated to the following? (Enter only whole dollar values.) 1. Land 2. […]

 

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Given below are account balances for Charlie Company: Gross sales, $108,000 Sales returns and allowances, $5,000

August 30, 2019 in /by

1.Given below are account balances for Charlie Company:Gross sales, $108,000 Sales returns and allowances, $5,000 Selling expenses, $12,000 Cost of goods sold, $48,000 Interest expense, $3,000 How much is the gross profit margin? (enter your percentage as a decimal rounded to two decimal places. Example – enter 46% as .46) 2.Merchandise is sold on account on […]

 

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Given below are account balances for Charlie Company: Gross sales, $108,000 Sales returns and allowances, $5,000

August 30, 2019 in /by

1.Given below are account balances for Charlie Company:Gross sales, $108,000 Sales returns and allowances, $5,000 Selling expenses, $12,000 Cost of goods sold, $48,000 Interest expense, $3,000 How much is the gross profit margin? (enter your percentage as a decimal rounded to two decimal places. Example – enter 46% as .46) 2.Merchandise is sold on account on […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"