A business enterprise gave away goods costing 10,000; 5,500; 3,400, respectively as free sample, as charity and

Question:

A business enterprise gave away goods costing ₹10,000; 5,500; 3,400, respectively as free sample, as charity and for personal use of owner. Pass journal entry.

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

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting

ISBN: 9780071078023

1st Edition

Authors: Dhanesh K. Khatri

See More Books

Question Posted: Dec 18, 2023 11:14 AM

See More Questions

A business enterprise gave away goods costing 10,000; 5,000; 3,000, respectively as free sample, as charity and for personal use of owner. Pass journal entry.
A bakery with a December 31 st year end purchased new equipment on October 31 st 2000 for $10,000. This was their first equipment purchase. Required: What are the tax consequences if the equipment is...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
Prudence Corporation manufactures two products: X and Y. The company has 4,000 hours of machine time available and can sell no more than 800 units of product X. Other pertinent data follow. Which of...
The separate income statements of Pea Corporation and its 90 percent-owned subsidiary, Sea Corporation, for 2011 are summarized as follows (in thousands): Investigation reveals that the effects of...
Emily Valley is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested $20,000 cash in her business. 1 Hired a...
Suppose the true relationship between E(y) and the quantitative independent variables x1 and x2 is given by the model below. E1y2 = -5 + x1 + 3x2 - 3x1 x2 a. Describe the corresponding...
Healthy & Trim Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on November 30, 2008, the end of the current fiscal year, the balances...
General Mills, Inc. (Use attached Annual Report Excerpts.) A. Perform a trend analysis by computing the percentage change and dollar change between fiscal 2012 and fiscal 2011 for the following...
Sold goods of 40,000 to Mahesh. Subsequently received cash from Mahesh 39,800 in the final settlement of his account. Purchased goods from Deepak of 80,000. Subsequently issued a cheque of 79,500 to...
ABC Ltd sold goods of MRP 39,000 to Nitish at 25% trade discount. The terms of credit sales were 1/14 net 30. Nitish makes the payment within 10 days. Show the journal entry for this transaction, in...
Explain the meaning of doubling time.
Brice Looney owns a small retail ice cream parlor. He is considering expanding the business and has identified two attractive alternatives. One involves purchasing a machine that would enable Mr....
A positively charged particle initially at rest on the ground moves $4.0 \mathrm{~m}$ upward in $2.00 \mathrm{~s}$. If the particle has a chargeto-mass ratio of $10 \mu \mathrm{C} / \mathrm{g}$...
Central States Telecom provides communication services in Iowa, Nebraska, the Dakotas, and Montana. Central States purchased goodwill as part of the acquisition of Sheldon Wireless Company, which had...
Shown below is selected information from the financial records of Merris Corporation as of December 31: Required a. Determine which of the above items will appear on the statement of cash flows and...
Pippa runs a photographic studio specializing in black and white portrait photography. Clients book a one hour studio session and are entitled to receive two large photographs of their choice from...
What is a schedule of accounts payable? Why is it prepared?
The following selected information was taken from Sun Valley Citys general fund statement of revenues, expenditures, and changes in fund balance for the year ended December 31, 2019: Revenues:...
Indicate whether each of the following statements is true or false. ______1. The corporation is an entity separate and distinct from its owners. ______2. The liability of stockholders is normally...
Baja Corporation began operations on April 1 by issuing 55,000 shares of $5 par value common stock for cash at $13 per share. Journalize the issuance.
Davies Corporation purchased 2,000 shares of its $10 par value common stock for $76,000 on August 1. It will hold these in the treasury until resold. Journalize the treasury stock transaction.
Break-Even Sales and Sales to Realize Income from Operations For the current year ending October 31, Yentling Company expects fixed costs of $537,600, a unit variable cost of $50, and a unit selling...
You buy a stock for $35 per share. One year later you receive a dividend of $3.50 per share and sell the stock for $30 per share. What is your total rate of return on this investment? What is your...
Filippucci Company used a budgeted indirect-cost rate for its manufacturing operations, the amount allocated ($200,000) is different from the actual amount incurred ($225,000). Ending balances in the...

A business enterprise gave away goods costing 10,000; 5,500; 3,400, respectively as free sample, as charity and

Question:

Step by Step Answer:

Purcha...View the full answer

Financial Accounting

Students also viewed these Business questions