Requirement 2:
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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.
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| 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.)
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| 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.)
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| 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.)
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| Requirement 2: |
| Prepare the journal entries for the above transactions. |
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General Journal |
Debit |
Credit |
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(Click to select)Accounts receivable Unearned revenue Supplies expense Sales revenue Accounts payable Salaries expense Merchandise inventory Wages payable |
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(Click to select)Sales revenue Supplies expense Accounts payable Merchandise inventory Accounts receivable Salaries expense Wages expense Unearned revenue |
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(Click to select)Merchandise inventoryWages expenseAccounts payableWages payableCashSales revenueUnearned revenueSupplies expense |
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(Click to select)Sales revenue Supplies on hand Accounts payable Unearned revenue Accounts receivable Supplies expense Cash Wages expense |
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| b. |
(Click to select)Salaries expense Supplies Merchandise inventory Sales revenue Accounts receivable Cash or accounts payable Wages expense Wages payable |
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(Click to select)Cash or accounts payable Wages expense Salaries expense Merchandise inventory Wages payable Sales revenue Accounts receivable Supplies |
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(Click to select)Supplies expense Sales revenue Wages payable Wages expense Merchandise inventory Accounts receivable Salaries expense Supplies |
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(Click to select)Merchandise inventory Supplies Accounts receivable Salaries expense Sales revenue Wages payable Wages expense Supplies expense |
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| c. |
(Click to select)Supplies expense Salaries expense Wages payable Accounts receivable Supplies on hand Wages expense Accounts payable Merchandise inventory |
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(Click to select)Accounts payable Merchandise inventory Wages expense Salaries expense Supplies on hand Supplies expense Accounts receivable Wages payable |
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(Click to select)Merchandise inventory Wages payable Accounts receivable Sales revenue Accounts payable Salaries expense Supplies expense Cash |
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(Click to select)Merchandise inventory Accounts payable Supplies on hand Salaries expense Wages payable Supplies expense Accounts receivable Cash |
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Accounting Comment A?» reply with an actual answer no solicitation..i already reported abuse twice for this question and another.
