Which of the following statements is FALSE about a journal entry a All debits are always listed before any credits b It may have more than one debit or credit entry c Credits are always indented d Accounts that are increased are always listed first Nordstrom, Inc describes itself as follows in its first footnote Nordstrom, Inc a leading fashion retailer that offers customers a well edited selection of high quality fashion brands focused on apparel, shoes, cosmetics and accessories for women, men, young adults and children This breadth of merchandise allows us to serve a wide range of customers who appreciate quality fashion and a superior shopping experience We offer an extensive selection of high quality brand name and private label merchandise through multiple retail channels Below you will see SOME (not all ) of Nordstroms transactions in their most recent fiscal year Provide the journal entry or entries (accounts and amounts) needed to record each transaction Purchased $1,920 million worth of inventory on account Account Titles Debit Credit Paid $1,469 million cash for accounts payable due to suppliers Account Titles Debit Credit Purchased new equipment for $935 million by signing a note payable Account Titles Debit Credit Paid $186 million cash for income tax expense for the year Account Titles Debit Credit Issued additional stock for $29 million cash at par Account Titles Debit Credit Collected $16,593 million cash from customers related to prior credit sales Account Titles Debit Credit Paid $11,562 million cash for current period operating expenses Account Titles Debit Credit Declared and paid cash dividends of $229 million Account Titles Debit Credit Paid $3,280 million cash for current period wages and salaries Account Titles Debit Credit Had $15,524 million in sales to customers Assume that all sales were credit sales Account Titles Debit Credit Based on the journal entries youve prepared, calculate Nodrstroms Net Income SHOW YOUR WORK Nordstroms Net Income At the beginning of the period, Nordstrom had a Cash balance of $957 million Use this beginning balance and your journal entries to show what Nordstrom's Cash T account would look like for the most recent period and calculate Nordstrom's ending Cash balance SHOW YOUR WORK Cash Nordstroms Ending Cash Balance

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Which of the following statements is FALSE about a journal entry? a.All debits are always listed before any credits. b.It may have more than one

Which of the following statements is FALSE about a journal entry?

a.All debits are always listed before any credits.

b.It may have more than one debit or credit entry.

c.Credits are always indented.

d.Accounts that are increased are always listed first

Nordstrom, Inc. describes itself as follows in its first footnote: Nordstrom, Inc. a leading fashion retailer that offers customers a well-edited selection of high-quality fashion brands focused on apparel, shoes, cosmetics and accessories for women, men, young adults and children. This breadth of merchandise allows us to serve a wide range of customers who appreciate quality fashion and a superior shopping experience. We offer an extensive selection of high-quality brand-name and private label merchandise through multiple retail channels.

Below you will see SOME (not all!) of Nordstroms transactions in their most recent fiscal year. Provide the journal entry or entries (accounts and amounts) needed to record each transaction.

Purchased $1,920 million worth of inventory on account.

Account Titles	Debit	Credit

Paid $1,469 million cash for accounts payable due to suppliers.

Account Titles	Debit	Credit

Purchased new equipment for $935 million by signing a note payable.

Account Titles	Debit	Credit

Paid $186 million cash for income tax expense for the year.

Account Titles	Debit	Credit

Issued additional stock for $29 million cash at par.

Account Titles	Debit	Credit

Collected $16,593 million cash from customers related to prior credit sales.

Account Titles	Debit	Credit

Paid $11,562 million cash for current-period operating expenses.

Account Titles	Debit	Credit

Declared and paid cash dividends of $229 million.

Account Titles	Debit	Credit

Paid $3,280 million cash for current-period wages and salaries.

Account Titles	Debit	Credit

Had $15,524 million in sales to customers. Assume that all sales were credit sales.

Account Titles	Debit	Credit

Based on the journal entries youve prepared, calculate Nodrstroms Net Income. SHOW YOUR WORK.

Nordstroms Net Income

At the beginning of the period, Nordstrom had a Cash balance of $957 million. Use this beginning balance and your journal entries to show what Nordstrom's Cash T account would look like for the most recent period and calculate Nordstrom's ending Cash balance. SHOW YOUR WORK.