Tell what accounts are affected in order and by how much

Reference no: EM13578687

Sales were $64,000. Cost of merchandise sold was 60% of its sales price. 60% of the sales were on open account. [Note: Record the sales transaction first and the expense transaction second]

Tell what accounts are affected in order, and by how much (values can be positive or negative). The answer choices are Cash, accounts receivable, inventory, prepaid rent, fixtures and equipment, accounts payable, interest payable, wages payable, notes payable, paid-in capital, retained earnings, leave blank. Some choices may show up more than once.

Reference no: EM13578687

Questions Cloud

Required the current years income tax liability from the : the following facts apply to tinypart toy companys pending litigation as of december 31 2013a. tinypart is defending

What would be the effect on the u201cnet increase or : 1. journalize the six adjusting entries required at march 31 based on the data presented.2. what would be the effect on

Colie company had an increase in inventory of 120000 the : colie company had an increase in inventory of 120000. the cost of goods sold was 490000. there was a 30000 decrease in

Assume a company sells a given product for 85 per unit how : 1assume a company sells a given product for 85 per unit how many units must be sold to break even if the variable

Tell what accounts are affected in order and by how much : sales were 64000. cost of merchandise sold was 60 of its sales price. 60 of the sales were on open account. note record

Dividends per sharemichelangelo inc a software development : dividends per sharemichelangelo inc. a software development firm has stock outstanding as follows 30000 shares of

A randomized controlled trial is run to evaluate the : question a randomized controlled trial is run to evaluate the effectiveness of a new drug for asthma in children. a

Altidore inc operates a calendar-year-end business that : scenario altidore inc. operates a calendar-year-end business that suffers from dramatic seasonal variation in taxable

On july 1 2014 linden company purchased the copyright to : on july 1 2014 linden company purchased the copyright to norman computer tutorials for 140000. it is estimated that the

User Account

All Pages