Question

7) Supplied food items to a family party for free of cost. 8) Paid Electricity Charges,...

7) Supplied food items to a family party for free of cost.
8) Paid Electricity Charges, Salaries to Workers and Shop Rent in the end of the month by cash.
(these come under which ledger group?)
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Answer is attached below

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Prepare an adjusted trial balance for the following transactions? transactions: Dec. 1 Family members contributed $50,000...
Prepare an adjusted trial balance for the following transactions? transactions: Dec. 1 Family members contributed $50,000 cash to the business in exchange for capital. Dec. 2 Purchased $10,800 of equipment for the store paying cash. Dec. 3 Paid $4,500 for a 9-month insurance policy starting on December 1. Dec. 4 Paid $18,000 cash to purchase land to be used in operations. Dec. 5 Purchased office supplies on account, $3,000. Dec. 6 Borrowed $28,000 from the bank for business use. You...
4.  Johnson Co. paid $2,400 for eight months' rent on the first day of the month.  At the...
4.  Johnson Co. paid $2,400 for eight months' rent on the first day of the month.  At the end of the month, what adjusting entry must be made relating to this transaction? a.  a debit to Rent Expense and a credit to Prepaid Rent for $300 b.  a debit to Prepaid Rent and a credit to Rent Expense for $300 c.  a debit to Rent Expense and a credit to Prepaid Rent for $2,100 d.  a debit to Prepaid Rent and a credit to Rent Expense...
COMPREHENSIVE PROBLEM Sam started Samuel Technology Service in February, 2015. The following transactions occurred in March,...
COMPREHENSIVE PROBLEM Sam started Samuel Technology Service in February, 2015. The following transactions occurred in March, 2015: Mar 1 Received cash from customers on account, $ 3,500. 2 Paid cash for advertising on a local website, $ 600. 3 Received cash from customers as an advance payment for technical support services to be provided in the future, $ 5,000. 6 Paid technician $ 1,500 in salary, including the amount owed at the end of February. 8 Paid $ 800 on...
Exotic Food Inc., Capital Budgeting Case CASE SUMMARY Exotic Food Inc., a food processing company located...
Exotic Food Inc., Capital Budgeting Case CASE SUMMARY Exotic Food Inc., a food processing company located in Herndon, VA, is considering adding a new division to produce fresh ginger juice. Following the ongoing TV buzz about significant health benefits derived from ginger consumption, the managers believe this drink will be a hit. However, the CEO questions the profitability of the venture given the high costs involved. To address his concerns, you have been asked to evaluate the project using three...
Problem 8-29 Completing a Master Budget [LO8-2, LO8-4, LO8-7, LO8-8, LO8-9, LO8-10] The following data relate...
Problem 8-29 Completing a Master Budget [LO8-2, LO8-4, LO8-7, LO8-8, LO8-9, LO8-10] The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Current assets as of March 31: Cash $ 8,800 Accounts receivable $ 25,200 Inventory $ 47,400 Building and equipment, net $ 114,000 Accounts payable $ 28,425 Common stock $ 150,000 Retained earnings $ 16,975 The gross margin is 25% of sales. Actual and budgeted sales data: March (actual) $ 63,000 April $...
Analyze each transaction and prepare the appropriate journal entry. Use journal paper found in Canvas, Modules,...
Analyze each transaction and prepare the appropriate journal entry. Use journal paper found in Canvas, Modules, Accounting Forms. The following transactions occurred during March, 2020 for the ABC Corporation. The company owns and operated a wholesale warehouse. 1) Issued 32,500 shares of Common Stock in exchange for $325,000 in cash 2) Purchased equipment at a cost of $36,000. $12,100 cash was paid and a long term note payable to the seller was signed for the balance owed 3) Purchased inventory...
On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the...
On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the month: Jan. 1 Sharon Matthews transferred cash from a personal bank account to an account to be used for the business, $31,000. 2 Paid rent on office and equipment for the month, $3,050. 3 Purchased supplies on account, $2,250. 4 Paid creditor on account, $850. 5 Earned fees, receiving cash, $14,660. 6 Paid automobile expenses (including rental charge) for month, $1,540, and miscellaneous expenses,...
Put on X in the box of the element associated with the items below Inv by...
Put on X in the box of the element associated with the items below Inv by Dist to Compr Assets Liabilities Equity Owners Owners Income Revenues Expenses Gains Losses 1 Paid in Capital 2 Service Revenue 3 Interest Receivable 4 Rent 5 Loss on sale of investment 6 Accounts Payable 7 Dividends 8 Preferred Stock Issued 9 Gain on sale of equipment Put on X in the box of the assumption, principle, or constraint associated with the items below Economic...
Financial information for the project: 1. You decide to open a small business in Charleston, WV...
Financial information for the project: 1. You decide to open a small business in Charleston, WV that will cater primarily to busy office workers downtown. You are going to offer a gourmet box lunch to be delivered to any office with a minimum number of 5 orders. This lunch will include a gourmet sandwich, a bag of chips, a cookie, and a bottle of water. Because you are using only the finest ingredients, you will charge $9.15per lunch. 2. The...
Mr. Madden, a master cabinetmaker, owns and operates a custom-made cabinetry shop. He uses a normal...
Mr. Madden, a master cabinetmaker, owns and operates a custom-made cabinetry shop. He uses a normal costing system and applies overhead on the basis of direct labor cost. At the beginning of September, he had no outstanding debt and the following balances were in the general ledger:             Cash                                        $ 16,000             Raw Materials Inventory          $   2,200             Plant Supplies Inventory          $   1,000           Stockholders’ Equity                      Work in Process Inventory      $     ????               Common Stock                   ???             Finished Goods...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT