On 6 January 20*8 Branch sold a machine used in his business for 200 to Tippers Ltd.
Question:
On 6 January 20*8 Branch sold a machine used in his business for £200 to Tippers Ltd. Tippers will settle the debt at the end of January 20*8.
Required
Prepare the journal entries to record this transaction.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
Heres how the journal entries could look 1 To record the sale of the machine to T...View the full answer
Answered By
Abdul Wahab Qaiser
Before working at Mariakani, I volunteered at a local community center, where I tutored students from diverse backgrounds. I helped them improve their academic performance and develop self-esteem and confidence. I used creative teaching methods, such as role-playing and group discussions, to make the learning experience more engaging and enjoyable.
In addition, I have conducted workshops and training sessions for educators and mental health professionals on various topics related to counseling and psychology. I have presented research papers at conferences and published articles in academic journals.
Overall, I am passionate about sharing my knowledge and helping others achieve their goals. I believe that tutoring is an excellent way to make a positive impact on people's lives, and I am committed to providing high-quality, personalized instruction to my students.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Patsy is shopping for a used car She finds a car she likes at Morley Motors Discuss how the UCC views each party and the standard of conduct it imposes on the parties in performing the sales...
-
Brennen sold a machine used in his business for $180,000. The machine was purchased eight years ago for $340,000. Depreciation up to the date of the sale for regular income tax purposes was $210,000...
-
On January 1, 2013, Baldwin Products, as lessee, leases a machine used in its operations. The annual lease payment of $10,000 is due on December 31 of 2013, 2014, and 2015. The machine reverts to the...
-
Label each transition in this flowchart Label each transition in this flowchart as a chemical change or a physical change. 8 chemical physical 00
-
Teresa Ramirez and Lenny Traylor are examining the following statement of cash flows for Pacific Clothing Stores first year of operations. PACIFIC CLOTHING STORE STATEMENT OF CASH FLOWS FOR THE YEAR...
-
Carvers Inc. manufactures wood statues, which yields sawdust as a by-product. Selling costs associated with the sawdust are \(\$ 250\) per ton sold. The company accounts for sawdust sales by...
-
6. Repeat the previous problem, assuming that the dividend yield is 1.5%.
-
In this assignment, you will prepare a document that addresses the requirements specified in the case. Specifically in your document you will need to: 1. Prepare a flowchart, logic diagram, or...
-
Exercise 2 Accounts Receivable The notes and tables below provide information about the Accounts Receivable for C&S, Inc. Accounts Receivable, net consists of the following: Year ended Dec 31 2016...
-
On 29 April 20*8 Briggs, a welder, sold an electric generator he had used in his business for 300 on credit to Cox. Required Prepare the journal entries to record this transaction.
-
On 7 November 20*8 Phillipa purchased a freezer for her shop for 1,200 from Icecold Ltd. She will pay for the freezer at the end of December 20*8. Required Prepare the journal entries to record this...
-
For each of the topologies of Fig. 8-16, what is the diameter of the interconnection network? Count all hops (host-router and router-router) equally for this problem.
-
Coaching for Performance Develop a strategy for how you will approach the coaching session with the employee, including what you plan to discuss and any questions you may have when you debrief....
-
For the following exercises, find the derivatives of the given functions: 1. y=x-secx+1 2. y = 3 cscx+ 5 3. f(x) = x cotx 4. f(x) = secx I 5. y=
-
1. why does Amazon use ERP system? How does ERP system work for Amazon? what are the benefit and drawbacks of using ERP for Amazon? 2. what are 5 industry best practices across Finance,...
-
A rigid vessel contains afuel gasconsisting of a methane (CH4) and ethane (C2H6) mixture. The pressure in the vessel is found to be 0.30 bar.Air is added to the vessel until the total pressure...
-
Do you agree with this discussion post? My article discusses decision-making tools in Project Management (PM). "In research and development (R&D), project management (PM) decision-making tools are...
-
Why can't we see stars in the daytime?
-
(a) With not more than 300 words, examine why Malaysia missed its 2020 targets to divert 40% of waste from landfills and increase recycling rates to 22%. (10 marks) b) Why arent Malaysian recycling?...
-
On which side of a cash book would a cheque payment be entered?
-
On which side of a cash book would you enter a cheque received?
-
Draw out the headings used in a cash book.
-
Minden Company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies suggest that the company can increase sales by 5,000 units for each $2...
-
Prepare the adjusting journal entries and Post the adjusting journal entries to the T-accounts and adjust the trial balance. Dresser paid the interest due on the Bonds Payable on January 1. Dresser...
-
Venneman Company produces a product that requires 7 standard pounds per unit. The standard price is $11.50 per pound. If 3,900 units required 28,400 pounds, which were purchased at $10.92 per pound,...
Study smarter with the SolutionInn App