what is the gournal jeneral entry for: 1. purchase goods for cash. 2. paid wages
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- Which of these transactions requires a debit entry to Cash? A. paid balance due to suppliers B. sold merchandise on account C. collected balance due from customers D. purchased supplies for cashIdentify whether each of the following transactions, which are related to revenue recognition, are accrual, deferral, or neither. A. sold goods to customers on credit B. collected cash from customer accounts C. sold goods to customers for cash D. collected cash in advance for goods to be delivered laterWhich of the following accounts are used when recording a purchase? A. cash, merchandise inventory B. accounts payable, merchandise inventory C. A or B D. cash, accounts payable
- For the following purchases of merchandise, determine the amount of cash to be paid.Name two situations where cash would be remitted to a customer from a retailer after purchase.Name a source document that provides information about each of the following types of business transactions: a. Cash payment b. Cash receipt c. Sale of goods or services d. Purchase of goods or services
- From the following list, identify which items are considered original sources: A. accounts receivable B. receipt from post office for post office box C. purchase order D. general ledger E. adjusted trial balance F. statement of retained earnings G. electric bill H. packing slip I. company expense account J. statement of cash flowsWhich two accounts are used to recognize shipping charges for a buyer, assuming the buyer purchases with cash and the terms are FOB Shipping Point? A. delivery expense, cash B. merchandise inventory, cash C. merchandise inventory, accounts payable D. The buyer does not record anything for shipping since it is FOB Shipping Point.what is the gournal jeneral entry for: 1. solds goods for cash. 2. paid creditors.
- Which of the following transactions will be recorded in cash payment journal? a. Receipt of income b. Purchase of goods on credit c. Sale of goods for cash d. Payment of monthly expensesWhich of the following accounts will be used in equation, if the goods are sold on credit to Mr. Mahmood? Account Receivable and Owner’s equity Cash and Account Receivable Cash account and Owner’s equity Account Payable and Owner’s EquityWhich of the following is an agent in a purchases and payments structure model? Question 6Answer a. Cash disbursement b. Inventory c. Employee labour d. Supplier e. Receipt of goods