Wednesday, December 19, 2018

'Mune Company Essay\r'

'Mune connection record journal entries for the declaration of $50,000 of dividends, the $32,000 increase in accounts due for services rendered, and the purchase of equipment for $21,000. What net gear up do these entries halt on equity? Decrease of $18,000.\r\nMaso Company record journal entries for the issuance of ordinary shares for $40,000, the defrayment of $13,000 on accounts payable, and the payment of salaries expense of $21,000. What net import do these entries have on equity? profit of $19,000.\r\nDuring the first year of Wilkinson Co.’s operations, all purchases were recorded as assets. Store supplies in the amount of $19,350 were purchased. true year-end store supplies amounted to $6,450. The adjusting entree for store supplies go forth: increase expenses by $12,900.\r\nPanda Corporation nonrecreational cash of 18,000 on June 1, 2010 for one year’s rent in advance and recorded the dealings with a debit to pre paying(a) Rent. The December 31, 2010 adjusting ledger entry is: debit Rent Expense and credit Prepaid Rent, 10,500.\r\nRecording the adjusting entry for depreciation has the same effect as recording the adjusting entry for: a prepaid expense. An accrued expense can best be described as an amount: not paid and currently matched with earnings.\r\nA document prepared to kick upstairs the equality of debits and credits after all adjustments have been prepared is the: Adjusted trial balance.\r\nUnder internationalistic Financial Reporting Standards (IFRS) the â€Å"book of original entry” is also known as the: Journal\r\n'

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