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 73 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?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

This is a still image from an animation of ocean surface currents from June 2005 to December 2007 This is a still image from an animation of ocean surface currents from June 2005 to December 2007
Eqiupment and supplies for physical assessment Eqiupment and supplies for physical assessment
Electron microscope video of a needle on a vinyl record Electron microscope video of a needle on a vinyl record
Expendable Supplies Expendable Supplies
Every medical office should keep emergency supplies in a waterproof container. Every medical office should keep emergency supplies in a waterproof container.
June 27 2023 June 27 2023
Video: Mechanisms for chromosome movement Animation

For a complete list of videos, visit our video library