Why is no journal entry needed at the date of record?
Question:
Why is no journal entry needed at the date of record?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 42% (7 reviews)
Date of de...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
Question Posted:
Students also viewed these Business questions
-
Prepare journal entries (debit and credit or no entry) for the following events of a company 05/12/08 Received charter authorizing issuing of 10,000 shares of common stock at a par value of $3 per...
-
During 2008 and 2009,Kopson Co. made the following journal entries to account for transactions involving trading securities: 2008 (a) Nov. 1 Investment in Trading Securities'10% U.S. Treasury Bonds ....
-
Multiple Choice. Choose the best answer. Items 1 through 3 relate to the following information. The county administers a tax agency fund that collects taxes on behalf of the county city, and a...
-
The Transco Company is considering making and supplying computer-controlled traffic- signal switching boxes to be used throughout Arizona. Transco has estimated the market for its boxes by examining...
-
An absorption mode Lorentzian line, centred at frequency Ω is given by We are going to work out the width of the line at half-height. Clearly, this is independent of the position of the...
-
The ice cream store Cool Stuff sells exotic ice cream, including Tropical Cream and Green Mango. Cool Stuff has been varying the prices of these flavors over the past twelve weeks and has recorded...
-
Use the February information from the Work Together above. An income statement for Wightman Lumber is included in the Working Papers. Work independently to complete this problem. 1, Prepare Wightman...
-
Scalias Cleaning Service is investigating the purchase of an ultrasound machine for cleaning window blinds. The machine would cost $136,700, including invoice cost, freight, and training of employees...
-
Ponder on these: 1. There are multiple daily challenges that operations managers face, such as globalization , sustainability , ethical conduct , ineffective communication , and system design . With...
-
1. Efficient Janitor The janitor of a high school is extremely efficient. By the end of each day, all of the school's waste is in plastic bags weighing between 1.01 pounds and 3.00 pounds. All...
-
Rebal Corporation was just issued a charter by the state of New York. This charter gives Rebal the authority to issue 325,000 shares of $7 par-value common stock. Consider the following transactions:...
-
Common Stock Dividend Distributable is a liability. Agree or disagree? Defend your position.
-
Giovando, Lindstrom & Co. obtained a $6000 demand loan at prime plus 1.5% on April 1 to purchase new office furniture. The company agreed to fixed monthly payments of $1000 on the first of each...
-
What technical skills are needed for electronic evidence collection. Give at least four skills and explain.
-
On January 1, 2022, an entity issued 10-year bonds with face amount of P2,500,000 for P2,887,500. The entity paid bond issue cost of P50,000 on same date. The stated interest rate on the bonds is 10%...
-
16. JS Company produce 500 units with a P50 unfavorable labor rate variance. The labor use variance was P180 favorable. Actual labor cost was P8,870. The standard wage rate was P9. Actual hours were...
-
When cost-based transfer pricing is used between subunits of a large organization, describe how to avoid making suboptimal decisions. Your discussion should be supported by research and real world...
-
What competitive advantage could a company obtain from a successful cost management program?
-
Describe the domestic terror attack within the two years that occurred within the United States and write a current event review. Be sure to include the perceived impact of the event on the Homeland...
-
CdF2 (s) Cd+ (aq) + 2 F- (aq) 1. A saturated solution of CdF2 is prepared. The equilibrium in the solution is represented above. In the solution [Cd+] eq = 0.0585 M and [F-] eq = 0.117 M. a....
-
From the income statement (Figure 21.17) and balance sheet (Figure 21.18), along with the additional data for Dean Company, prepare a statement of cash flows using the indirect method. Additional...
-
From the financial statements and additional information provided in Problem 21B-1 for Dean Company, prepare a statement of cash flows using the direct method. From the income statement (Figure...
-
Indicate what effect (#1 4) each situation (#a f) will have on the bank reconciliation process. 1. Add to bank balance. 2. Deduct from bank balance. 3. Add to checkbook balance. 4. Deduct from...
-
A special type of password consists of 3 letters of the alphabet and 3 digits. How many different possible passwords are there? (Letters or digits can be repeated).
-
Find the z-score such that the area under the standard normal curve to the left is 0.66. Question content area bottom Part 1 enter your response here is the z-score such that the area under the curve...
-
Why does a merchandising company using a perpetual inventory system include freight out in its closing entries, and not freight in? Select answer from the options below Because freight out is...
Study smarter with the SolutionInn App