Altimo purchased $550 worth of goods from L Barchi on 15 July. The tax invoice from L
Question:
Altimo purchased $550 worth of goods from L Barchi on 15 July. The tax invoice from L Barchi showed a discount of $22 if payment was received by 25 July. On 23 July J Altimo paid the tax invoice less the discount received. Show the payment in the cash payments journal (or general journal) of J Altimo.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 25% (4 reviews)
Answer To record the payment in the cash payments journal or general journal ...View the full answer
Answered By
Arshad Ahmad
Well, I am really new to tutoring but I truly believe a good student can be a better teacher. I have always been a topper at school. I passed my Chartered Accountancy at a very young age of 23, a rare feat for most of the students. I am really dedicated to whatever work I do and I am very strict regarding deadlines. i am always committed and dedicated to whatever work allotted to me and I make sure it is completed well within deadline and also I try to give my best in whatever I do. Hope we will have a good time studying together.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Accounting An Introduction To Principles And Practice
ISBN: 9780170403832
9th Edition
Authors: Edward A. Clarke, Michael Wilson
Question Posted:
Students also viewed these Business questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
L Barchi sold goods to J Altimo for $550 on 15 July. A discount of $22 was to be allowed if the remittance was received by 25 July. L Barchi received the remittance from J Altimo on 25 July and...
-
The Fashion Rack has a monthly accounting period. The firms chart of accounts is shown below and on the next page. The journals used to record transactions are the sales journal, purchases journal,...
-
Yamini and Fatima, two students of Class IX of a school, together contributed Rs. 100 towards the Prime Ministers Relief Fund to help the earthquake victims. Write a linear equation which satisfies...
-
Consider an eight-month European put option on a Treasury bond that currently has 14.25 years to maturity. The current cash bond price is $910, the exercise price is $900, and the volatility for the...
-
List and explain the three basic functions of administrative agencies.
-
Mondao Computing is considering an investment of $2.3 million in new equipment. The predicted cash inflows and outflows are as shown below: Mondao depreciates its equipment over five years and uses a...
-
Big Foot produces sports socks. The company has fixed expenses of $85,000 and variable expenses of $1.20 per package. Each package sells for $2.00. Requirements 1. Compute the contribution margin per...
-
The Oneida Caterings production division processes the data from the companys records. The Oneida Catering costs are used by Meals and Jobs. The following regression output is obtained when costs are...
-
D Anderson received a tax invoice on 10 August from A Barrozo for $1100, which showed the terms of payment as 5% 10 days/net 30 days. D Anderson processed the remittance on 15 August. Show the...
-
A Barrozo sent a tax invoice to D Anderson on 9 August for $1100 with the terms of 5% 10 days/net 30 days. A Barrozo received payment on 17 August and allowed the discount according to the terms on...
-
For spherical coordinates, \[\begin{align*} x & =ho \sin \theta \cos \phi \\ y & =ho \sin \theta \sin \phi \\ z & =ho \cos \theta \tag{9.133} \end{align*}\] find the scale factors and derive the...
-
Can the gut microbiome, which is influenced by diet and environmental factors, be manipulated through personalized probiotic interventions to target neurodegenerative diseases like Alzheimer's,...
-
What are some pros and cons of having a team leader for a particular team? What problems might arise from the addition of a team leader? How might team leaders build trust to make them more effective?
-
In the current environment, would you advise someone to pay down credit card debt or add to an emergency savings account? Please explain the assumptions underlying your advice, such as the interest...
-
How does the interplay between an organism's genetics, the microbiome (the community of microbes living within and on it), and environmental factors influence the evolution of traits across...
-
Distinguish carefully between the following terms: i) relative error and dynamic range. ii) nonlineariy and hysteresis. [30%] (b) Measurement errors can be broadly classified as random, systematic...
-
The equity section of Cyril Corporations balance sheet shows the following: Preferred stock 6% cumulative, $ 25 par value, $ 30 call price, 10,000 shares issued and outstanding . . . . . . . . . . ....
-
Assume that your audit team has established the following parameters for the examination of ELM's sales transactions: LO G-3 Risk of incorrect acceptance...
-
Indicate whether each of the following items should be allocated or apportioned by the taxpayer in computing state corporate taxable income. Assume that the state follows the general rules of UDITPA....
-
Regarding the apportionment formula used to compute state taxable income, does each of the following independent characterizations describe a taxpayer that is based in-state or out-of-state? Explain....
-
Megan is an accountant for KnoxCo. She is a telecommuter and works most days from her home in Tennessee. Twice a month, she travels to Georgia for a staff meeting at the employer's Atlanta...
-
With a 6% annual rate of return, compounded monthly, how much will you need to save every month to have $1,000,000 at age 65 if you begin saving at age 30?
-
= Homework: Chapter 8 Homework Question 1, P8-40 (similar to) Part 3 of 14 HW Score: 57.56%, 11.51 of 20 points Points: 0.59 of 4 Desiree's Fleet Feet, Inc., produces dance shoes for stores all over...
-
HURON GOLF CENTRE- THE ACCOUNTING CYCLE The Huron Golf Centre shows the following accounts in its ledger on August 31, 2021 Cash A/R - Moores Opening Balance: 3000 A/P-Sam 150 D. Barr, Capital...
Study smarter with the SolutionInn App