Indicate the normal balance and category of each of the following accounts: a. Salaries Payable b. Merchandise
Question:
a. Salaries Payable
b. Merchandise Inventory (beginning of period)
c. Freight-In
d. Payroll Tax Expense
e. Purchases Returns and Allowances
f. Sales Returns and Allowance
g. FICA—Social Security
h. Purchases Discounts
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (20 reviews)
A Credit Liability B Debit Asset C Debit ...View the full answer
Answered By
Seema kuldeep
although I don't have an experience of teaching in a particular institute, previously I was an expert on Chegg and I have used to teach my batch mates and also my juniors.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Indicate the normal balance and category of each of the following accounts: a. Sales Returns and Allowances b. Inventory c. Miscellaneous Income d. Payroll Tax Expense e. Sales Discounts f. Cost of...
-
Indicate the normal balance of the five types of accounts. Account Type Normal Balance Assets.................._____________________ Liabilities.............._____________________ Owner's...
-
Indicate the normal balance (debit or credit) for each of the following accounts: 1. Cash 2. Wages Expense 3. Accounts Payable 4. Owners Drawing 5. Supplies 6. Owners Capital 7. Equipment
-
Discuss documents that need to be included in recovery documentation?
-
The random variables X and Y in Exercise 2, with variances found in Section 7.2, Exercise 10. For the following joint distributions, find the probabilities for the random variable X - Y (the...
-
Rachels Designs has 2,000 shares of 7%, $50 par value cumulative preferred stock issued at the beginning of 2019. All remaining shares are common stock. Due to cash flow difficulties, the company was...
-
What is Agile? AppendixLO1
-
The December 31, 2013, year-end inventory balance of the Raymond Corporation is $210,000. You have been asked to review the following transactions to determine if they have been correctly recorded....
-
You've estimated the following cash flows (in $) for a project: A B 1 Year Cash flow 2 0 -3,530 3 1 974 4 2 1,281 5 3 2,111 The required return is 8.5%. . Part 1 What is the IRR for the project? ....
-
The area between z = -0.34 and z = 1.03. Draw a standard normal curve and shade the area indicated. Then nd the area of the shaded region.
-
Prepare a worksheet for Morin Co. from the following information using Figure: a/b. Merchandise Inventory, ending ....... 9 c. Store Supplies on hand ........... 2 d. Depreciation on Store Equipment...
-
From the following, calculate (a) Net sales, (b) Cost of goods sold, (c) Gross profit, (d) Net income: Sales, $22,700; Sales Discount, $400; Sales Returns and Allowances, $370; Beginning Inventory,...
-
Simplify each expression by removing as many factors as possible from under the radical. Assume that all variables represent positive real numbers. 3 2 3 16 + 2 3 54
-
Q10: Region ( experienced compressive stresses and has a than the rest of the bracket. Region ( ) experienced tension stresses and has a of the bracket. Deep Drawing and Stretch Forming width (into...
-
A sample of 1500 computer chips revealed that 32% of the chips do not fail in the first 1000 hours of their use. The company\'s promotional literature claimed that above 29% do not fail in the first...
-
The 75 lb block is released from rest 5 ft above the plate. Determine the compression of each spring when the block momentarily comes to rest after striking the plate. Neglect the mass of the plate....
-
Indiana Soy Products (OSP) buys soybeans and processes them into other soy products. Each ton of soybeans that OSP purchases for $250 can be converted for an additional $180 into 675 lbs of soy meal...
-
The 2025 Annual Report of Splish International contains the following informatio (in millions) June 29, 2025 June 27, 2024 Total assets $1,545 $1,502 Total liabilities 989 1,060 Net sales 2,800 2.971...
-
A term life insurance policy that can be extended for another term without the insured taking a medical exam has: (a) convertibility. (b) decreasing protection. (c) permanent life protection. (d)...
-
Bonus shares can be issued out of revenue reserves. True/False?
-
How can historical simulation be used to calculate a one day 99% VaR for the credit risk of bonds in the trading book? What are the disadvantages?
-
Proko Corporation was just issued a charter by the state of New York. This charter gives Proko the authority to issue 275,000 shares of $7 par value common stock . From the following transactions, 1....
-
The following is the Paid-In Capital section of stockholders equity for the Gracie Corporation on June 1, 201X: Paid-In Capital: Preferred Stock, $98 par, authorized 19,000 shares, 6,000 shares...
-
Dixon Corporation has 23,500 shares outstanding of $14 par value, 10% preferred stock, and 47,000 shares outstanding of $14 par value common stock. In its first five years of operation, the company...
-
En prenant un exemple de votre choix, montrer comment on value un swap de taux de change.
-
How much would you need to invest today in order to receive: a. $10,000 in 5 years at 11%? b. $11,000 in 12 years at 8%? c. $12,000 each year for 10 years at 8%? d. $12,000 at the beginning of each...
-
A company that manufactures pulse Doppler insertion flow meters uses the Straight Line method for book depreciation purposes. Newly acquired equipment has a first cost of $190,000 with a 3-year life...
Study smarter with the SolutionInn App