Business, 01.09.2020 23:01 alananicoleee
Rock Castle Construction — Accounting transactions resulting from processing
purchasing and cash disbursement transactions
For each of the following transactions, select the proper accounting entry
from the list provided.
a. Inventory was received but not paid for on a purchase order.
Payment terms were 2% 10, Net 30.
1. DR A/C #12100 Inventory Asset
CR A/C #50100 Cost of Goods Sold
2. DR A/C #12100 Inventory Asset
CR A/C #20000 Accounts Payable
3. DR A/C #50100 Cost of Goods Sold
CR A/C #20000 Accounts Payable
4. DR A/C #12100 Inventory Asset
CR A/C #54300 Job Materials
b. A purchase order for the purchase of inventory was prepared and
saved.
1. DR A/C #12100 Inventory Asset
CR A/C #50100 Cost of Goods Sold
2. DR A/C #12100 Inventory Asset
CR A/C #20000 Accounts Payable
3. DR A/C #50100 Cost of Goods Sold
CR A/C #20000 Accounts Payable
4. None of the above (no account ing entry necessary)
Answers: 1
Other questions on the subject: Business
Business, 22.06.2019 14:30, benjaminmccutch
Turtle corporation produces and sells a single product. data concerning that product appear below: per unit percent of sales selling price $ 150 100 % variable expenses 75 50 % contribution margin $ 75 50 % the company is currently selling 5,600 units per month. fixed expenses are $194,000 per month. the marketing manager believes that a $5,300 increase in the monthly advertising budget would result in a 190 unit increase in monthly sales. what should be the overall effect on the company's monthly net operating income of this change?
Answers: 1
Business, 22.06.2019 21:30, jefersonzoruajas
Which of the following best explains why online retail companies have an advantage over regular stores? a. their employees make less money because they mostly perform unskilled tasks. b. they are able to keep distribution costs low by negotiating deals with shipping companies. c. their transactions require expensive state-of-the-art technological devices. d. they have a larger number of potential customers because people anywhere can buy from them.
Answers: 1
Business, 23.06.2019 01:20, celestemaria0727
Erp has all the following advantages except: modules throughout a corporation can communicate with each other while purchasing is difficult, the vendors such as sap make it worthwhile due to easy implementation have predefined software that represents "pretty good practices" or even "best practices" enables standardized procedures in an organization reduces inconsistent data stored in various locations of the organization
Answers: 3
Business, 23.06.2019 05:50, laderickaluckey
Ineed the answer today! explain how inflation can be built into the system
Answers: 1
You know the right answer?
Rock Castle Construction — Accounting transactions resulting from processing
purchasing and cash di...
Questions in other subjects:
