This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: On June 30, 2011, Team Shirt purchased 500 of supplies for cash. Record this transaction. No ... (Read 28 times)

jjjetplane

  • Hero Member
  • *****
  • Posts: 556
on: Jul 5, 2018
On June 30, 2011, Team Shirt purchased 500 of supplies for cash. Record this transaction. No references are needed.
 
  Date Transaction Debit Credit

Question 2

Gross profit minus selling expenses equals net income.
 a. True
  b. False
 
   Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

asdfasdf

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jul 5, 2018
Answer to Question 1

Date Transaction Debit Credit
6/30/11 Supplies 500
Cash 500
To record the purchase of supplies

Answer to Question 2

False


jjjetplane

  • Hero Member
  • *****
  • Posts: 556
Reply #2 on: Jul 5, 2018
Thank you :)


asdfasdf

  • Sr. Member
  • ****
  • Posts: 339
Reply #3 on: Jul 5, 2018
Happy to help you


« previous next »
 

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Vinyl record Vinyl record
A medical assistant performs a spirometry test using electronic health record software. A medical assistant performs a spirometry test using electronic health record software.
A typical module-controlled high-side driver (HSD) where the module itself supplies the electrical ... A typical module-controlled high-side driver (HSD) where the module itself supplies the electrical ...
The isotope record The isotope record
An antique painting is purchased in 1980 for $995. The value increases by 3.1% e An antique painting is purchased in 1980 for $995. The value increases by 3.1% e
14 June 2023 14 June 2023
Video: Optic Nerve and Optic Disk Animation (Part 2 of 2)

For a complete list of videos, visit our video library