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 87 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?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

An electrocardiogram (EKG) wave, a record of the electrical signal as it moves through the conductio An electrocardiogram (EKG) wave, a record of the electrical signal as it moves through the conductio
Vinyl record Vinyl record
Monkeys and apes such as this chimpanzee can be recognized in the fossil record by the anatomy of th Monkeys and apes such as this chimpanzee can be recognized in the fossil record by the anatomy of th
Equipment Inventory Record Equipment Inventory Record
Record the first puff and this final reading for each cylinder. The final readings should all be ... Record the first puff and this final reading for each cylinder. The final readings should all be ...
An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ... An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ...
Video: Bone processes - resorption and deposition, remodeling and response to stress in adult bones

For a complete list of videos, visit our video library