The following account appeared in the ledger of Marine Drive Stores: Explain each entry in this account

Question:

The following account appeared in the ledger of Marine Drive Stores:

Explain each entry in this account and also state where the double entry for each entry will be found.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cambridge IGCSE And O Level Accounting Coursebook

ISBN: 9781316502778

2nd Edition

Authors: Catherine Coucom

See More Books

Question Posted: Sep 14, 2021 12:37 AM

See More Questions

The following balance appeared in the ledger of Khathutshelo Ltd at the end of the 20.18 financial year: 31 December 20.18 Current tax payable - SARS R2 000 credit Additional Information: 20.18 Tax...
The following account appeared in Annas ledger: Which statement is correct? A. On 5 January Jodie sold goods, $500, to Anna. B. On 7 January Anna returned goods, $20, to Jodie. C. On 29 January Anna...
The following accounts and balances appeared in the ledger of Chafezz Accountants Ltd on 30 April 2018: Annual Leave Payable Sick Leave Payable Provision for Long-Service Leave Taxation Office...
Ha: Î¼1 > Î¼2 The null hypothesis is H0: Î¼1 = Î¼2 and the alternative hypothesis is as specified. We have provided data from a simple random...
A 3.55 L container has a mixture of 56.7 g of Ar and 33.9 g of Heat 33C. What are the partial pressures of the gases and the total pressure inside the container?
What are the main steps in action research?
P 11-2 Consolidated balance sheet and income statement under entity theory Pus Inc. was recently offered a big government project. However, since it lacked the funds and personnel required to handle...
Stiever Industries manufactures and sells three different models of wet-dry shop vacuum cleaners. Although the shop vacs vary in terms of quality and features, all are good sellers. Stiever is...
_ important items 15. Disclosure statements identify and provide information on a. 10 b. 20 c. 30 d. 40 Indicate whether the statement is true or false. 10. A major advantage of purchasing an...
A thin-walled cylindrical pressure vessel is made of composite materials, and is loaded by internal pressure, p, and an external torque, T, as shown in Figure 1. Diameter of the vessel is D = 100 cm....
The balance of which account may appear on the debit side of a trial balance? A. Carriage inwards B. Purchases returns C. Rent receivable D. Sales
Jaswant purchased goods from Ali and paid in cash. Which entries would Ali make in his ledger? Account to be debited Account to be credited A cash sales B Jaswant sales sales Jaswant D sales cash
Tarp Department Store is located in midtown Platteville. During the past several years, net income has been declining because of suburban shopping centers. At the end of the companys fiscal year on...
Explain in details the reasons for your classifications. Classify the following processes as batch, continuous, or semibatch, and transient or steady- state. 1. A balloon is filled with air at a...
Question 5. A first responder drone of mass m slug is launched with a velocity vo ft/sec and constant engine force F from a level ground and moves vertically upward to discover a sense of life in a...
As part of the investigation of the collapse of the roof of a building. a testing laboratory is given all the available bolts that connected the steel structure at 3 different positions on the roof....
1) Baris Diary Co. has three product and divisions for production process of Milk, Yogurt and Cheese. Company's data show following resulst for 2014: Milk Yogurt Revenue 100.000TL 125.000TL Cheese...
Problem 11-4B (Algo) Prepare a statement of cash flows-indirect method (LO11-2, 11-3, 11-4, 11-5) The income statement, balance sheets, and additional information for Virtual Gaming Systems are...
Shahia Company bought a building for $382,000 cash and the land on which it was located for $107,000 cash. The company paid transfer costs of $9,000 ($3,000 for the building and $6,000 for the land)....
List four items of financial information you consider to be important to a manager of a business that has been operating for a year.
Virginia owns 100% of Goshawk Company. In the current year, Goshawk Company sells a capital asset (held for three years) at a loss of $40,000. In addition, Goshawk has a short-term capital gain of...
In the current year, Plum, Inc., a closely held C corporation, has $410,000 of net active income, $20,000 of portfolio income, and a $75,000 passive activity loss. What is Plums taxable income for...
Joel is the sole shareholder of Manatee Corporation, a C corporation. Because Manatees sales have increased significantly over the last several years, Joel has determined that the corporation needs a...
Ellis Perry is an electronics components manufacturer. Information about the company's two products follows: \ table [ [ , , , ] , [ Units produced,AM - 2 , FM - 9 , ] , [ Direct labor hours required...
Which of the following requirements to claim Earned Income Tax Credit is TRUE? The credit can be claimed under any filing status. The taxpayer must have a valid SSN for employment in the U.S., issued...
Olde Tyme Beverage Companys operating activities for the year are listed below. Cost of Goods Manufactured $131,000 Operating expenses 80,000 Beginning inventory, FG 16,000 Ending inventory, FG...

The following account appeared in the ledger of Marine Drive Stores: Explain each entry in this account

Question:

Central Wholesalers account Date Details Folio $ Date Details Folio $ 20-4 20-4 May 17 Returns 120 May 1 Balance b/d 180 20 Bank 300 10 Purchases 410 31 Balance c/d 170 590 590

Step by Step Answer:

Entry Date Particulars Amount Explanation Double Entry accoun...View the full answer

Cambridge IGCSE And O Level Accounting Coursebook

Related Video

Students also viewed these Business questions