What is journey entry for this transaction

Assignment Help Financial Accounting
Reference no: EM131220366

The firm delivers goods with a sales price of $375,000 to customers during 2014, as contracted. This amount includes the goods ordered on 11/15/2013 ( this transaction was dr cash 45,000 and cr unearned revenue 45,000). the remaining goods were sold on account. the firm collects $257,000 of these sales during 2014 and expects to fully collect the remaining amount.

What is journey entry for this transaction?

Reference no: EM131220366

Questions Cloud

Financial innovation on the demand for money : Graphically illustrate and explain the impact of an increase in real GDP and simultaneous financial innovation on the demand for money. State all assumptions.
What is the fundamental problem in economics : What is the fundamental problem in economics?  How does that problem drive the choices that societies make?  Given this problem, what economic systems have developed?  Explain in an essay.  Be sure to define your economic terms.
The economic order quantity is approximately : Cartwright Graphics uses a special purpose paper on 80% of its jobs. The paper is purchased in 100-sheet packages at a cost of $100 per package. Management estimates that the cost of placing and receiving a typical order is $15, and the annual cost o..
Find the transfer function of the whitening filter : Find the transfer function of the whitening filter for this input process. Be sure that the filter is causal. - Sketch a circuit which will realize this transfer function.
What is journey entry for this transaction : The firm delivers goods with a sales price of $375,000 to customers during 2014, as contracted. This amount includes the goods ordered on 11/15/2013 ( this transaction was dr cash 45,000 and cr unearned revenue 45,000). the remaining goods were sold ..
Construct foam or clay models of primitive solid shapes : How would the pieces have to change if none of the sides of the prism were parallel to the base of the cone? Try intersecting the prism with the cylinder and then the cube, at both normal and skew angles.
Demand for gasoline in the present : Suppose there is news that indicates gasoline supplies might suddenly become disrupted by a truckers union strike. What you expect would happen to the demand for gasoline in the present?
Analyze and discuss the financial performance of starbucks : Analyze and discuss the financial performance of Starbucks using financial ratios. Include your calculations and amounts in a table in the appendix of your paper. Be sure to show your calculation for each ratio.
Compute the profit margin ratio and return on assets : Consider the following financial information for SMJ Corporation for the year ended March 31, 2014:   Compute the current ratio. Compute the profit margin ratio. Compute Return on Assets

Reviews

Write a Review

Financial Accounting Questions & Answers

  The city purchased new computer equipment costing 19000 by

the city purchased new computer equipment costing 19000 by paying 3000 in cash and signing a long-term note payable for

  Calculate the activity rate per purchase order

Calculate the activity rate per purchase order.- Express total activity availability in terms of activity capacity used and unused capacity.

  What amount of interest expense should be recorded

On January 1, 2014, Cron Corporation issued $850,000 in bonds that mature in ten years. The bonds have a stated interest rate of 14 percent and pay interest on June 30 and December 31 each year. When the bonds were sold, the market rate of interest w..

  Prepare in good form the bank reconciliation

Prepare, in good form, the bank reconciliation as of November and prepare, in good form, the required adjusting journal entries.

  Inventory system

a company and tell what type of inventory system they use and why you think this is a correct or an incorrect choice. For example, A supermarket uses a LIFO for its produce.

  Electronics and communications systems

Harold Corporation, a manufacturer of electronics and communications systems, uses a service department charge system to charge profit centers with Computing and Communications Services (CCS) service department costs.

  What was the companys EBITDA

A company had revenue of $1,000, Depreciation and Amoritzation Expense of $100. Interest Expense of $100 and Tax Expense of $50. All other Expenses were $500. What was the company's EBITDA?

  Jensen company forecasts a requirement for 200000 pounds of

jensen company forecasts a requirement for 200000 pounds of cotton in may. on 11th april the company acquires a call

  Explain the difference in unit costs using the two methods

Allocate the joint costs to the two products using the physical measures method. Explain the difference in unit costs using the two methods.

  Find net income and retained earnings

Calculate net income and Retained earnings based on the information below. Be sure to show all work and label each answer clearly.

  Largest crude oil and natural gas reserves

Behind the United States, the world's second largest emitter of energy-related emissions is and which of the following regions has the largest crude oil and natural gas reserves

  Organize the transaction in accounts

Organize the transaction in accounts under an accounting equation and prepare the stockholders equity section of the balance sheet as of December 31, 2012.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd