Accounting

posted by .

For each of the journal entries, prepare an explanation of the business event that is being represented

  • Accounting -

    An inventory of supplies found $990 on hand. this is an adjusting entry. what accounts are affectes....please help

  • Accounting -

    Mabel, Loretta and Margaret are equal parters in a local resturant. The resturant reports the following items for the current year.
    Revenue-600,000
    Business expenses-310,000
    Investment expenses-150,000
    short-term capital gains-157,000
    short-term capital losses-213,000
    Each partner receives a schedule K-1 with one third of the preceeding items reported to her. How must each individual report these results on her form 1040?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Accounting question

    How are posting procedures for closing entries and for other general journal entries different?
  2. Anonymous

    For Pose for Pics, prepare journal entries, T-accounts and a trial balance Pose for Pics Preparing journal entries and trial balances Exercise 2-4 Prepare general journal entries for the following transaction of a new business called …
  3. accounting

    To post proof for the day means to A. total the columns on the journal and add and subtract totals as required. B. match the journal entries against the ledger to detect errors. C. prepare a bank reconciliation statement. D. add in …
  4. college

    Problem 2: For each journal entry, prepare an explanation of the business event that is being represented: a. Loan payable $57,000 Cash $11,400 Inventory $45,600 b. Accounts payable $13,450 Cash $13,450 a. The company borrowed $57,000 …
  5. Business Math

    Problem 2: For each journal entry, prepare an explanation of the business event that is being represented: a. Loan payable $57,000 Cash $11,400 Inventory $45,600 b. Accounts payable $13,450 Cash $13,450 a. The company borrowed $57,000 …
  6. advance accounting

    consolidation,prepare the journal entries on books of phillips to recod the acquistion of solina company's net assets
  7. Math

    On July 15,2009, the Nixon Car Company purchased 1,000 tires from the Harwell Company for $50 each. The terms for the sale were 2/10, n/30. Nixon uses a periodic inventory system and the net method of accounting for purchase discounts. …
  8. Math

    Tracy Company, a manufacturer of air conditioners, sold 100 units to Thomas Company on November 26. The units have a list price of $500 each, but Thomas was given a 30% trade discount. The terms of the sale were 2/10, n/30. Thomas …
  9. accounting

    Your review of the general ledger of Home Interior Improvements and Designs Company reveals a beginning capital balance of $25,000. You also review the general journal for the accounting period and find the closing entries shown on …
  10. Accounting

    1. On July 1, 2010, Harris Co. issued 6,000 bonds at $1,000 each. The bonds paid interest semiannually at 5%. The bonds had a term of 20 years. At the time of issuance, the market rate of interest was 7%. Harris uses the effective …

More Similar Questions