Review Game Zone
Games
Test
Preview
Back
Match it!
Match it! Select the correct answer from the pull down...Good luck!
The beginning supplies balance is $1,600 and the ending supplies balance is $1,200. The correct adjusting entry will be to debit:
Supplies Expense and credit Supplies $400.
all balance sheet debit items are added and subtract drawings
rent expense divide by sales
Debit Madison Company $700 and credit Macon Company $700
Debit Income Summary, $800; Credit Merchandise Inventory, $800
. Prepare the Owner's Equity section.
Debit Cash, $630; debit Sales Discounts $70; credit Accounts Receivable/ Corner Market, $700.
total sales-total expenses divided by sales
how do you calculate total asset
Supplies Expense and credit Supplies $400.
all balance sheet debit items are added and subtract drawings
rent expense divide by sales
Debit Madison Company $700 and credit Macon Company $700
Debit Income Summary, $800; Credit Merchandise Inventory, $800
. Prepare the Owner's Equity section.
Debit Cash, $630; debit Sales Discounts $70; credit Accounts Receivable/ Corner Market, $700.
total sales-total expenses divided by sales
The merchandise inventory account has a balance of $1,500. At the end of the month, a physical count of the inventory items shows $700 on hand. How is the adjusting entry to inventory recorded on a multi-column trial balance worksheet?
Supplies Expense and credit Supplies $400.
all balance sheet debit items are added and subtract drawings
rent expense divide by sales
Debit Madison Company $700 and credit Macon Company $700
Debit Income Summary, $800; Credit Merchandise Inventory, $800
. Prepare the Owner's Equity section.
Debit Cash, $630; debit Sales Discounts $70; credit Accounts Receivable/ Corner Market, $700.
total sales-total expenses divided by sales
what is the component percentage for Rent Expense?
Supplies Expense and credit Supplies $400.
all balance sheet debit items are added and subtract drawings
rent expense divide by sales
Debit Madison Company $700 and credit Macon Company $700
Debit Income Summary, $800; Credit Merchandise Inventory, $800
. Prepare the Owner's Equity section.
Debit Cash, $630; debit Sales Discounts $70; credit Accounts Receivable/ Corner Market, $700.
total sales-total expenses divided by sales
How can you calculate net income component percent
Supplies Expense and credit Supplies $400.
all balance sheet debit items are added and subtract drawings
rent expense divide by sales
Debit Madison Company $700 and credit Macon Company $700
Debit Income Summary, $800; Credit Merchandise Inventory, $800
. Prepare the Owner's Equity section.
Debit Cash, $630; debit Sales Discounts $70; credit Accounts Receivable/ Corner Market, $700.
total sales-total expenses divided by sales
Grocers received $630 cash from Corner Market for payment on account. Corner Market took a $70 discount for paying early. What is the journal entry for Wholesale Grocers to record this transaction?
Supplies Expense and credit Supplies $400.
all balance sheet debit items are added and subtract drawings
rent expense divide by sales
Debit Madison Company $700 and credit Macon Company $700
Debit Income Summary, $800; Credit Merchandise Inventory, $800
. Prepare the Owner's Equity section.
Debit Cash, $630; debit Sales Discounts $70; credit Accounts Receivable/ Corner Market, $700.
total sales-total expenses divided by sales
John discovered that a sale on account to Madison Company on April 8 for $700 was incorrectly charged to Macon Company. What is the journal entry to correct this error?
Supplies Expense and credit Supplies $400.
all balance sheet debit items are added and subtract drawings
rent expense divide by sales
Debit Madison Company $700 and credit Macon Company $700
Debit Income Summary, $800; Credit Merchandise Inventory, $800
. Prepare the Owner's Equity section.
Debit Cash, $630; debit Sales Discounts $70; credit Accounts Receivable/ Corner Market, $700.
total sales-total expenses divided by sales
Mary is preparing a Balance Sheet. She has calculated and recorded the total liabilities. What should Mary do NEXT?
Supplies Expense and credit Supplies $400.
all balance sheet debit items are added and subtract drawings
rent expense divide by sales
Debit Madison Company $700 and credit Macon Company $700
Debit Income Summary, $800; Credit Merchandise Inventory, $800
. Prepare the Owner's Equity section.
Debit Cash, $630; debit Sales Discounts $70; credit Accounts Receivable/ Corner Market, $700.
total sales-total expenses divided by sales
Check it!
Match it!
Match it!