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: 33% (6 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...
-
Caspian Sea Drinks is considering buying the J-Mix 2000. It will allow them to make and sell more product. The machine cost $1.78 million and create incremental cash flows of $774,379.00 each year...
-
Determine the times-dividend-earned ratio given the following information: 30% corporate income tax rate $10,000 earnings before interest and taxes $2,000 interest owed $2,000 preferred stock...
-
The manager of the OBrian Glass Company is planning the production of automobile windshields for the next four months. The demand for the next four months is projected to be as shown in the following...
-
Samuel will receive an inheritance where he will be paid 1,000 every 28 months forever. The first payment will start immediately. Samuel calculated the present value of this inheritance to be...
-
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...
-
Why might global cartels be harder to identify and eradicate than cartels solely located within the domestic economy? What problems does this raise for competition policy?
-
7. A psychiatrist is testing a new ADHD Medication, which seems to have the potentially harmful side effect of increasing the heart rate. For a sample of 50 clinical study participants whose pulse...
-
Determine the type of engagement that your colleague completed for the client. Justify the selected engagement type for the client. Assess the purpose of each financial statement for the client's...
-
Mills Corporation acquired as a long-term investment $235 million of 8% bonds, dated July 1, on July 1, 2024. Company management has classified the bonds as an available-for-sale investment. The...
-
A force of 28 pounds acts on the pipe wrench shown in the figure below. 18 in. 30 (a) Find the magnitude of the moment about O by evaluating ||OA x F||. (0 0 180) Use a graphing utility to graph the...
-
Module 1 1. There has been a rise in cases of measles in RI. The RI Health Department is wondering if the rate of MMR vaccinations has declined since the start of the COVID-19 pandemic. The...
-
A mortgage of $180 000 is amortized over 20 years by semi-monthly payments of $611.31. What is the nominal annual rate of interest compounded semi-annually?
-
Sundial Technologies produces and sells customized network systems in New Brunswick. The company offers a 60-day, all software and labor-and an extra 90-day, parts-only- warranty on all of its...
-
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...
-
1,600 Balance Sheet The following is a list (in random order) of KIP International Products Company's December 31, 2019, balance sheet accounts: Additional Paid-In Capital on Preferred Stock $2,000...
-
Question 3 4 pts 9 x + 3 x 9 if x 0 Find a) lim f(x), b) lim, f(x), C), lim , f(x) if they exist. 3 Edit View Insert Format Tools Table : 12pt M Paragraph B IV A2 Tv
-
Mr. Geoffrey Guo had a variety of transactions during the 2019 year. Determine the total taxable capital gains included in Mr. Guo's division B income. The transactions included: 1. On January 1,...
Study smarter with the SolutionInn App