One of the supplier accounts from the accounts payable ledger for Paragon Video is shown below. Explain each of the entries that have been posted to this supplier's subsidiary ledger account. (Omit the description for the beginning balance.)Miami Video SupplyDATEEXPLANATIONP.R.DEBITCREDITBALANCE2019?????Mar. 1 Balance???1,50012 Invoice 301J3?2501,75015 Cash paymentJ31,500?25028 CM 105J450?200
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Mar. 12 - Purchased merchandise in the amount of $250 on credit.
Mar. 15 - Paid $1,500 in cash on account.
Mar. 28 - Purchase return or allowance in the amount of $50 as per CM 105 received from vendor.
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A subscription for 4,000 shares of $10 par value common stock was accepted. Upon receipt of the balance owed on the stock subscription, a stock certificate was issued to the subscriber. The journal entry to issue the stock certificate would include a debit to
a. Common Stock, $40,000. b. Common Stock, $20,000. c. Common Stock Subscribed, $40,000. d. Common Stock Subscribed, $20,000.
A company purchased $8900 of merchandise on June 15 with terms of 3/10, n/45. On June 20, it returned $445 of that merchandise. On June 24, it paid the balance owed for the merchandise taking any discount it was entitled to. The cash paid on June 24 equals:
A. $8633. B. $8201. C. $8246. D. $8900. E. $8455.
What does the debt to equity ratio show, and how is it calculated?
What will be an ideal response?
Which of the following is most likely a result of regulations set up by the Food and Drug Administration and the Consumer Product Safety Commission?
A) The time between new product ideas and their introduction to the market has decreased. B) Annual spending on research and development has decreased. C) Research costs for companies have risen. D) Product innovation has significantly declined. E) Marketers have grown increasingly apathetic toward meeting safety standards.