Entries by mary WAMBUGU

XYZ Company purchased a refrigerated delivery truck for $65,000 on January 1, 2015. The plan is to use the truck for 5 years and then replace it.

August 29, 2019 in /by

XYZ Company purchased a refrigerated delivery truck for $65,000 on January 1, 2015. The plan is to use the truck for 5 years and then replace it. At the end of its useful life, the truck is expected to have a salvage value of $10,000. The fiscal year ends December 31.   Looking for a […]

 

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

Prepare Acme Supply Company’s general journal entries for the following transactions: Jan. 1 Accepted RunTimeCo’s 120-day, 10% note as settlement of an outstanding $15,000 account receivable for goods sold last year.

August 29, 2019 in /by

Question Prepare Acme Supply Company’s general journal entries for the following transactions: Jan. 1 Accepted RunTimeCo’s 120-day, 10% note as settlement of an outstanding $15,000 account receivable for goods sold last year. Jan. 15 Purchased $10,000 Equipment from XYZ, signing a 9-month, 12% note. Jan. 15 Loaned Warner Co. $30,000 cash, accepting a 90-day, 10% […]

 

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

A cash dividend of $500 was declared and paid to stockholders. The correct journal entry to record the declaration is: a DR Capital stock 500 and CR Cash 500

August 29, 2019 in /by

A cash dividend of $500 was declared and paid to stockholders. The correct  journal entry to record the declaration is: a DR Capital stock 500 and CR Cash 500 b. DR Cash 500 and CR Dividends 500 c.  DR Dividends 500 and CR Cash 500 d.  DR Cash 500 and CR Capital stock 500   […]

 

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

One advantage to using a perpetual inventory system is that the company never has to physically count the inventory. Question 1 options: True False

August 29, 2019 in /by

Quiz Indicate whether the following statements are true or false. Question 1 (4 points) One advantage to using a perpetual inventory system is that the company never has to physically count the inventory. Question 1 options:   True   False Question 2 (4 points) The weighted-average inventory method will likely result in neither the highest […]

 

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