Step by step video, text & image solution for Pass Journal entry for sale of goods by Rahul, Delhi to Anish, Delhi for Rs. 10,000 less 10% Trade Discount and 2% Cash Discount. Assume payment is received at the time of sale. CGST and SGST is levied @ 6% each. by Accounts experts ...
Prepare a journal entry for the purchase of office supplies on March 13 for $6,500, paying $1,300 cash and the remainder on the account. Prepare a journal entry for the purchase of office supplies on August 7 for $4,000, paying $1,000 cash and the remainder on account. Prep...
The accounting term for the recording of a sale through a journal entry is ___.Sales:Sales is the business activity of selling goods and services to customers in exchange for cash or credit. Sales increase the revenues of the business, which are used by the business for oth...
a城市灾害频发 The city disaster frequency sends[translate] aThe credit side of the journal entry reduces the total of the cost of goods available for sale to the cost of goods actually sold. 分录记录的贷方减少物品的费用的共计可利用为销售到实际上被卖的物品的费用。[translate]...
aThe credit side of the journal entry reduces the total of the cost of goods available for sale to the cost of goods actually sold. The difference is inventory that has not been sold and is physically stil in the warehouse. 分录记录的贷方减少物品的费用的共计可利用为销售到实际上被卖的物品...
114 Return transaction Recalls a previous transaction by its receipt number to return some or all of the products. Yes Yes Yes Yes§ No 115 Show journal Shows the store's journal. You can view transactions, reprint receipts and gift receipts, and recall for return. Yes Yes Yes Yes** No ...
100,000 Bond Premium 1,720 Common Stock 120,000 80,000 Retained Earnings 242,012 49,882 Sales 140,000 125,000 Interest Income 5,202 Income from Subsidiary 22,498 $962,112 $962,112 $471,602 $471,602 Required a. Record the journal entry or entries for 20X4 on M...
Under a perpetual inventory system, when a sale is made, the company:A.makesajournalentrytorecordthesaleonly.B.makesajournalentrytorecordonlythecostofgoodssold.C.makesajournalentrytorecordthesaleandthecostofgoodssold.D.doesnotneedtomakeajournalentry.的答
The journal entries for Company A would be as follows: The journal entries for the end of March, April, and May would be the same as the journal entry above. Related Readings CFI is the official provider of the globalFinancial Modeling & Valuation Analyst (FMVA)®certification program for...
This allows faster transfer of goods to customers and even spread of total inventory.Answer and Explanation: In the perpetual inventory system, all accounting transactions are recorded at the time of sales, purchase, and sales return. The journal en...