Feb. 01 Team Shirts purchases 200 T-shirts at $4 each. They are purchased on...
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Accounting
Feb. Team Shirts purchases Tshirts at $ each. They are purchased on credit. Feb. Sara hires a company to advertise his business. The total cost is $ Sara pays $ cash at the time of the service and will pay the remaining $ later. Feb. Team Shirts pays $ for months of insurance, with coverage beginning on the date of payment. Feb. Team Shirts sells Tshirts for $ each. of these were sold for cash and the remaining were sold on credit. Feb. Team Shirts declares and pays a dividend of $ End of Month Adjustments Part of the insurance cost, from the th through the th has been used apparently to generate revenue. Therefore, we should expense $ of the total insurance cost; that is $ $ x th where th days days
Feb. Team Shirts purchases Tshirts at $ each. They are
purchased on credit.
Feb. Sara hires a company to advertise his business. The total cost is
$ Sara pays $ cash at the time of the service and will pay
the remaining $ later.
Feb. Team Shirts pays $ for months of insurance, with coverage
beginning on the date of payment.
Feb. Team Shirts sells Tshirts for $ each. of these were
sold for cash and the remaining were sold on credit.
Feb. Team Shirts declares and pays a dividend of $
End of Month Adjustments
Part of the insurance cost, from the th through the th has been used
apparently to generate revenue. Therefore, we should expense $ of the total
insurance cost; that is $ $ x th where th days days
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