Presented below is the ledger for Higgs Co.
Cash
No. 101
10/1 4,300 10/4 320 10...
Presented below is the ledger for Higgs Co.
Cash
No. 101
10/1 4,300 10/4 320 10/10 660 10/12 1,080 10/10 3,900 10/15 300 10/20 580 10/30 260 10/25 1,900 10/31 480
Accounts Receivable
No. 112
10/6 650 10/20 580 10/20 600
Supplies
No. 126
10/4 320
Equipment
No. 157
10/3 2,000
Balance Notes Payable
No. 200
10/10 3,900
Accounts Payable
No. 201
10/12 1,080 10/3 2,000
Common Stock
No. 311
10/1 4,300 10/25 1,900
Dividends
No. 332
10/30 260
Service Revenue
No. 400
10/6 650 10/10 660 10/20 600
Salaries and Wages Expense
No. 726
10/31 480
Rent Expense
No. 729
10/15 300
Required:
1. Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20 and provide explanations for each.2. Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October 31, 2015.
Answers: 2
Business, 22.06.2019 13:30, Mariaisagon9050
Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.
Answers: 1
Business, 22.06.2019 19:00, chloesmolinski0909
Why is accountability important in managing safety
Answers: 2
Business, 22.06.2019 21:10, dooboose15
Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.
Answers: 3
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