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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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Category > Management Posted 29 Jan 2018 My Price 10.00

Simpson Co

Requirement 2:

 

"font-

 

PLEASE SHOW WORK FOR THIS PROBLEM AND A,B,C THANKS

During the month of April, Simpson Co. had cash receipts from customers of $110,600. Expenses totaled $72,800, and accrual basis net income was $19,600. There were no gains or losses during the month.

 

Required:

 

Calculate the revenues for Simpson Co. for April.

Part 2
(a)

Accounts Receivable had a balance of $840 at the beginning of the month and $630 at the end of the month. Credit sales totaled $8,400 during the month. Calculate the cash collected from customers during the month, assuming that all sales were made on account. (Omit the "$" sign in your response.)

Cash collected from customers $
(b)

The Supplies account had a balance of $378 at the beginning of the month and $511 at the end of the month. The cost of supplies used during the month was $1,638. Calculate the cost of supplies purchased during the month. (Omit the "$" sign in your response.)

Cost of supplies purchased $
(c)

Wages Payable had a balance of $287 at the beginning of the month. During the month, $2,660 of wages were paid to employees. Wages Expense accrued during the month totaled $2,870. Calculate the balance of Wages Payable at the end of the month. (Omit the "$" sign in your response.)

Wages payable $

Requirement 2:
Prepare the journal entries for the above transactions.

  General Journal Debit Credit
a. (Click to select)Accounts receivable-Unearned revenue-Supplies expense-Sales revenue-Accounts payable-Salaries expense-Merchandise inventory-Wages payable    
  (Click to select)Sales revenue-Supplies expense-Accounts payable-Merchandise inventory-Accounts receivable-Salaries expense-Wages expense-Unearned revenue    
       
  (Click to select)Merchandise inventoryWages expenseAccounts payableWages payableCashSales revenueUnearned revenueSupplies expense    
  (Click to select)Sales revenue-Supplies on hand-Accounts payable-Unearned revenue-Accounts receivable-Supplies expense-Cash-Wages expense    
       
b. (Click to select)Salaries expense-Supplies-Merchandise inventory-Sales revenue-Accounts receivable-Cash or accounts payable-Wages expense-Wages payable    
  (Click to select)Cash or accounts payable-Wages expense-Salaries expense-Merchandise inventory-Wages payable-Sales revenue-Accounts receivable-Supplies    
       
  (Click to select)Supplies expense-Sales revenue-Wages payable-Wages expense-Merchandise inventory-Accounts receivable-Salaries expense-Supplies    
  (Click to select)Merchandise inventory-Supplies-Accounts receivable-Salaries expense-Sales revenue-Wages payable-Wages expense-Supplies expense    
       
c. (Click to select)Supplies expense-Salaries expense-Wages payable-Accounts receivable-Supplies on hand-Wages expense-Accounts payable-Merchandise inventory    
  (Click to select)Accounts payable-Merchandise inventory-Wages expense-Salaries expense-Supplies on hand-Supplies expense-Accounts receivable-Wages payable    
       
  (Click to select)Merchandise- inventory-Wages payable-Accounts receivable-Sales revenue-Accounts-payable-Salaries expense-Supplies expense-Cash    
  (Click to select)Merchandise inventory-Accounts payable-Supplies on hand-Salaries expense-Wages payable-Supplies expense-Accounts receivable-Cash    

Accounting Comment A?» reply with an actual answer no solicitation..i already reported abuse twice for this question and another.

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Jan 2018 12:01 AM My Price 10.00

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