Business, 18.06.2020 16:57 razerocfu4523
Ransactions related to purchases and cash payments completed by Wisk Away Cleaning Services Inc. during the month of May 20Y5 are as follows:
May 1. Issued Check No. 57 to Bio Safe Supplies Inc. in payment of account, $345.
May 3. Purchased cleaning supplies on account from Brite N’ Shine Products Inc., $200.
May 8. Issued Check No. 58 to purchase equipment from Carson Equipment Sales, $2,860.
May 12. Purchased cleaning supplies on account from Porter Products Inc., $360.
May 15. Issued Check No. 59 to Bowman Electrical Service in payment of account, $145.
May 18. Purchased supplies on account from Bio Safe Supplies Inc., $240.
May 20. Purchased electrical repair services from Bowman Electrical Service on account, $110.
May 26. Issued Check No. 60 to Brite N’ Shine Products Inc. in payment of May 3 invoice.
May 31. Issued Check No. 61 in payment of salaries, $5,600.
Prepare a purchases journal and a cash payments journal to record the above transactions in chronological order. Wisk Away Cleaning Services Inc. uses the following accounts:
Cash 11
Cleaning Supplies 14
Equipment 18
Accounts Payable 21
Salary Expense 51
Electrical Service
Expense 53
Answers: 2
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Afirm wants to strengthen its financial position. which of the following actions would increase its current ratio? a. reduce the company's days' sales outstanding to the industry average and use the resulting cash savings to purchase plant and equipment.b. use cash to repurchase some of the company's own stock.c. borrow using short-term debt and use the proceeds to repay debt that has a maturity of more than one year.d. issue new stock, then use some of the proceeds to purchase additional inventory and hold the remainder as cash.e. use cash to increase inventory holdings.
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Ransactions related to purchases and cash payments completed by Wisk Away Cleaning Services Inc. dur...
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