“Rationing is a vital part of your country’s war effort. Any…
“Rationing is a vital part of your country’s war effort. Any attempt to violate the rules is an effort to deny someone his share and will create hardship and help the enemy. This book is our government’s assurance of your right to buy your fair share of certain goods made scare by war. Price ceilings have also been established for your protections. Dealers must post these prices conspicuously. Don’t pay more. Give your whole support to rationing and thereby conserve our vital goods. Be guided by the rule: “If you don’t need it, DON’T BUY IT.” “IMPORTANT: When you use your ration, salvage the TIN CANS and WASTE FATS. They are needed to make munitions for fighting men. Cooperate with your local Salvage Committee.” -War Ration Books 3 & 4, Office of Price Administration, 1943Which of the following was the main economic purpose for the rationing program found in the above document?
Read DetailsOctober 1 Planet Express Inc. sold to Moe’s Tavern LLC….
October 1 Planet Express Inc. sold to Moe’s Tavern LLC. merchandise that cost $14,440 for $78,880, 1/15, n EOM, FOB Shipping October 2 Shipping cost of $2,009 is paid. October 9 Planet Express accepted a return of merchandise of $3,880 that cost $890. October 15 Moe’s Tavern pays the invoice. Create a table and prepare journal entries for Planet Express and Moe’s Tavern. ***Do all entries for Planet Express and then all entries for Moe’s Tavern.***
Read DetailsUse the adjusted trial balance and prepare a properly format…
Use the adjusted trial balance and prepare a properly formatted classified Balance Sheet Holiday’s Music Corp. Adjusted Trial Balance 30-Apr Dr. Cr. Cash $68,000 Accounts Receivable 12,000 Prepaid Insurance 850 Prepaid Advertising 13,250 Office Supplies 1,475 Merchandise Inventory 27,850 Estimated Returns Inventory 4,370 Equipment 250,000 Accumulated Depreciation-Equipment $100,000 Music Copyrights 60,000 Accounts Payable 10,300 Salaries Payable 63,018 Customer Refunds Payable 3,800 Notes Payable (short term) 7,500 Long-term Notes Payable 92,500 Common Stock 25,000 Retained Earnings 170,062 Dividends 30,000 Sales $265,065 Sales Discount 25,702 Cost of Goods Sold 124,209 Insurance Expense (on office) 3,000 Advertising Expense 1,900 Office Salaries Expense 23,000 Office Supplies Expense 13,319 Office Rent 24,000 Depreciation Expense- Office Building 5,000 Royalties (an expense) 26,000 Travel Expenses (sales related) 13,200 Utilities Expense 7,230 Interest Expense 2,890 Totals $737,245 $737,245
Read DetailsUse the adjusted trial balance and prepare a properly format…
Use the adjusted trial balance and prepare a properly formatted Statement of Retained Earning Holiday’s Music Corp. Adjusted Trial Balance 30-Apr Dr. Cr. Cash $68,000 Accounts Receivable 12,000 Prepaid Insurance 850 Prepaid Advertising 13,250 Office Supplies 1,475 Merchandise Inventory 27,850 Estimated Returns Inventory 4,370 Equipment 250,000 Accumulated Depreciation-Equipment $100,000 Music Copyrights 60,000 Accounts Payable 10,300 Salaries Payable 63,018 Customer Refunds Payable 3,800 Notes Payable (short term) 7,500 Long-term Notes Payable 92,500 Common Stock 25,000 Retained Earnings 170,062 Dividends 30,000 Sales $265,065 Sales Discount 25,702 Cost of Goods Sold 124,209 Insurance Expense (on office) 3,000 Advertising Expense 1,900 Office Salaries Expense 23,000 Office Supplies Expense 13,319 Office Rent 24,000 Depreciation Expense- Office Building 5,000 Royalties (an expense) 26,000 Travel Expenses (sales related) 13,200 Utilities Expense 7,230 Interest Expense 2,890 Totals $737,245 $737,245
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