Answer:
The following are the adjusting entries and the amounts entered are supposed and imaginary.
Explanation:
Date Account Titles and Explanation Debit Credit
Mar. 31 Supplies Expense Dr 10,000
Supplies Account Cr 10,000
When supplies are expensed out. If supplies have a balance of 30000 and 10000 is used up.
Mar. 31 Depreciation Expense Dr 5000
Accumulated Depreciation Cr 5000
Depreciation expense amounts to 5000 for the current year
Mar. 31 Unearned Service Revenue Dr 3000
Service Revenue Cr 3000
Unearned Service Revenue is a liability of the person or company.
Mar 31. Salaries and Wages Expenses Dr 2000
Cash Cr 2000
Slaries and wages paid in full by cash to 2000
Answer:
<u>$26000</u>
Explanation:
from the question;
check per day; 20000
delay: 3 days
checks to pay suppliers; 17000
clearing time 2 days
<u>we first calculate collection flaot:</u>
collection flaot = average amount of check x outstanding days
= 20000 x 3
= 60000
now we have to calculate <u>disbursements float:</u>
average amount of check x days to clear
= 17000 x 2
= 34000
with these two values we can get the net float
= collection flaot - disbursements float
= 60000 - 34000
= <u>$26000</u>
Answer:
See explanation Section
Explanation:
The journal entry to record the purchase of merchandise -
Merchandise Inventory Debit $300
Cash Credit $300
Note: As the perpetual inventory shows the running inventory of cost of goods available for sale. Therefore, every purchase of merchandise will directly debit the merchandise inventory and not the purchase account. Since the company paid immediately, cash decreased.
The answer is strategic decision making. This is also
referred as strategic planning in which a group of people or an individual
engage into making or creating the goals or objectives that the organization
would want to achieve or tackle in a way of providing altering strategies and
to obtain the goal that they aim for.