Posts by accounting
Total # Posts: 3
i. On February 27th, the company sold goods on account to CUSTOMER, $1,800. The goods had a cost of $900. Dungy uses a perpetual inventory system. ans--> A/R (debit) $1800 Sales (credit) $1800 Cost of Goods Sold (debit) $900 Merchandise Inventory (credit) $900 ii. On ...
November 4, 2010
Pheasant Corporation ended its first year of operations with taxable income of $225,000. At the time of Pheasant¡¯s formation, it incurred $50,000 of organizational expenses. In calculating its taxable income for the year, Pheasant claimed an $8,000 deduction for ...
September 30, 2009
all records in a file must be uniquely identiied in at least one attribute which is its primary key. identify primary key Record Type: Accounts payable Inventory Customer Sales Orders Purchase Orders to Vendors Cash Receipts (checks) from Customers Cash Disbursements (checks) ...
January 20, 2009