/12 In the final settlement, how much would D receive?4 26 a. P651,250 b. P368,000 c. P815,750 d. P601,250 545, 000 X . 186,310 395,000 2/5 221
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- OW21 Onlin teachin x N2 | Online teaching esource from Cengag... w.com eBook Cash Inventory Land Notes Payable tMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false V Xi Lin, Capital Feedback ps Panthère de Cartier... ✓ Show Me How Journalizing Partner's Original Investment assumed a $57,000 note payable owed by Lin that was used originally to purchase the land. Xi Lin contributed land, inventory, and $35,000 cash to a partnership. The land had a book value of $79,000 and a market value of $152,000. The inventory had a book value of $53,100 and a market value of $48,900. The partnership also Required: Provide the journal entry for Lin's contribution to the partnership. If an amount box does not require an entry, leave it blank. 35,000 53,100 X 152,000 48,900 X 79,000 X 57,000 Pink Playful Femini... Check My Work 5 more Check My Work uses remaining. & MX Check My Work Record the assets at their current values, and record the liability at its current value. Lin's Capital…10:35 l ull a 25.0 68) KB/S f p1.png QUESTION 1 A and B formed a partnership. The following are their contributions: B Cash 500,000 Accounts receivable 100,000 700,000 Building Total 600,000 700,000 A, capital B, capital Total 600,000 700.000 600,000 700.000 Additional information: • The accounts receivable includes an 8% of the account that is deemed uncollectible. • The building is under-depreciated by P50,000. The building has an unpaid mortgage P100,000, which is not assumed by the partnership. Reguirement: Provide the journal entry to record the contributions of the partners in the partnership books.Problem 8 April, May and June decided to form a partnership on January 1, 2018 to operate a retail store. April and May both owned a retail store with the following account balances: ENTIA APRIL MAY 10,000,000 5,000,000 Cash Receivables 10,000,000 15,000,000 Inventories 1911 35,000,000 20,000,000 5,000,000 Accounts Payable AGUIO CX 25,000,000 10,000,000 Notes Payable 15,000,000 25,000,000 (10%) (5%) Capital 40,000,000 15,000,000 The following are to be taken up by the partnership: a. April and May will contibute all their assets and liabilities in the newly formed partnership. The parties agree to provide a 10% and 20% allowance for bad debts on the receivables of April and May. b. c. The inventories of April and May have fair values of P30,000,000 and P22,500,000, respectively. d. The PPE of April and May have never been depreciated and should be depreciated by 40% and 30%, respectively. e. The interest payable on both notes payable were unrecorded and unpaid since the date of…
- 11:/13 Problem 2-2U S) William Company operates a customer loyalty program. T entity grants loyalty points for goods purchased. The loyalty points can be used by the customers in exchane for goods of the entity. The pointa have no expiry date. During 2020, the entity issued 100,000 award credits and expects that 80% of these award credits shall be redeemed The total stand-alone selling price of the award credita granted is reliably measured at P2,000,000. In 2020, the entity sold goods to customers for a total consideration of P8,000,000 based on stand-alone selling price. The award credits redeemed and the total award credits expected to be redeemed each year are as follows: Redeemed Expected to be redeemed 2020 2021 30,000 15,000 80% 90% 1. What is the revenue from points for 2020? 1,600,000 b. a. 1.500,000 600,000 d. 480,000 2. What is the revenue from points for 2021? a. 240,000 b. 200,000 120,000 04.29question O C. Work in Progress Finished Product 48 Given the following data; TOTAL SALES OMR 250000 CASH SALES OMR 125000 SALES RETURN OMR 5000 OPENING SUNDRY DEBTORS OMR 20000 CLOSING SUNDRY DEBTORS OMR 10000 What will be the average debtors? ut of O a. OMR 15000 uestion O b. OMR 7500 O c. OMR 30000 O d. OMR 10000 pe here to search Pa lenovoiCloud Q Accounti x NorfolkS x Q CIS Test x b Answerec XO Week 6- x *Paraphra X BLOG 315 X nment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false ☆ 可 Tp * On March 4, Micro Sales makes $3,900 in sales on bank credit cards that charge a 2% service charge and deposits the funds into Micro Sales' bank accounts at the end of the business day. Journalize the sales and recognition of expense as a single journal entry. If an amount box does not require an entry, leave it blank. Mar. 4 Previous Next Submit Test for Grading Email Instructor All work saved. 11:33 PM 65°EA 10/24/2021
- ab User Management,... H https://outlook.offi... FES Protection Plan System 7 - North C... Homework Exercises Saved Lewis Corporation engaged in the following transactions during June. DATE TRANSACTIONS 20X1 4 Purchased merchandise on account from Salinas Company; Invoice 100 for $1,005; terms n/30. 15 Recorded purchases for cash, $1,490. 30 Paid amount due to Salinas Company for the purchase on June 4. June Book Required: Record these transactions in a general journal. erences View transaction list Journal entry worksheet 1. 21 3 Paid amount due to Salinas Company for the purchase on June 4. Note: Enter cebits before credits.» QUESTION: 41 OF 51 Select the single best answer: A. $40,000 OB. $90,000 X Co. began operating on March 1 and its sales in March were $100,000, all purchased on account. Returns and allowances for March were $10,000. Cash collected for sales on account during March was $50,000. Which of the following options presents the ending Accounts Receivable balance for March? C. $140,000 D. $130,000 E. $50,000 Type here to search DVO Instructions W Please report any problems with this B « Previous Question Next Question >>> ? 2 32iCloud x Q Accounti X Norfolk S X Q CIS Test b Answere x x O Week 6 -X * Paraphra x BLOG 31 X + Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false A sales invoice included the following information: merchandise price, $6,700; terms 1/10, n/eom, FOB shipping point with prepaid freight of $1,100 added to the invoice. Assuming that a credit for merchandise returned of $700 is granted prior to payment and the invoice is paid within the discount period, what is the amount of cash that should be received by the seller? Oa. S7,040 Ob. S693 Oc. $8,426 Od. $7,733 Nex Previous
- Class Collaborate-AC-163-44 P x CengageNOWv2| Online teachin X + 2.cengagenow.com/ilmn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignments... A Determine the following measures for 2018. Round ratio values to one decimal place and dollar amounts to the nearest cent. For number of days' sales in receivables and number of days' sales in inventory, round intermediate calculations to the nearest whole dollar and final amounts to one decimal place. Assume there are 365 days in the year. 1. Working capital Г 2,790,000 2. Current ratio 4.1 3. Quick ratio 2.5 4. Accounts receivable turnover 16 5. Days' sales in receivables 22.8 days 6. Inventory turnover 7. Days sales in inventory 8. Debt ratio days % 9. Ratio of liabilities to stockholders' equity 10. Ratio of fixed assets to long-term liabilities 11. Times interest earned times times 12. Times preferred dividends earned Check My Work 8 144 0 P Previous Email Instructor Save and Exr Submit Assignment for Grading pri se…m AA Priva × system er... G governm... cv.blackboard.com G administr... Departm... BUS 241 - Principles Of Accounting | (20953) Mastery Assignment Instructions PA6.) Review the following transactions for Dish Mart and record any required journal entries. Note that all purchase transactions are with the same supplier. Nov. 5 Dish Mart purchases 26 sets of dishes for $460 per set with cash. Nov. 9 Dish Mart purchases 30 sets of dishes for $430 per set on credit. Terms of the purchase are 10/15, n/60, invoice date November 9. Nov. 13 Dish Mart discovers 5 of the dish sets are damaged from the November 9 purchase and returns them to the supplier for a full refund. G reese rd e... Nov. 14 Dish Mart purchases 10 sets of dishes for $450 per set, on credit. Terms of the purchase are 10/10, n/60, invoice date November 14. Û + O Nov. 15 Dish Mart discovers that 2 of the dish sets from the November 14 purchase and 4 of the dish sets from the November 5 purchase are missing a few dishes but keeps…25 - On 12.12.20XX, the entity purchased goods worth $ 50,000 from entity B on credit. Exchange rate on the day of the transaction $ 1 = 2.5 TL (VAT is not taken into account)A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 50000 300 BANK CREDITS 50000 B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 125000 300 BANK CREDITS 125000C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 50000 320 SELLERS 50000 D) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 125000 321 BORROWINGS 125000 E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 125000 320 SELLERS 125000
