Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on December 31.
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Vigeland Company completed the following transactions during Year
1. Vigeland's fiscal year ends on December 31.
| Jan. | 15 | Purchased and paid for merchandise. The invoice amount was $26,500; assume a perpetual inventory system. | |
| Apr. | 1 | Borrowed $700,000 from Summit Bank for general use; signed a 10-month, 6% annual interest-bearing note for the money. | |
| June | 14 | Received a $15,000 customer deposit for services to be performed in the future. | |
| July | 15 | Performed $3,750 of the services paid for on June 14. | |
| Dec. | 12 | Received electric bill for $27,860. Vigeland plans to pay the bill in early January. | |
| 31 | Determined wages of $15,000 were earned but not yet paid on December 31 (disregard payroll taxes). |
1. Prepare journal entries for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
2. Prepare the adjusting entries required on December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on December 31.
Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on December 31...
Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on December 31 Jan. 15 Purchased and paid for merchandise. The invoice amount was $14,500; assume a perpetual inventory system. Apr. 1 Borrowed $666,000 from Summit Bank for general use; signed a 10-month, 13% annual interest-bearing note for the money. June 14 Received a $17,000 customer deposit for services to be performed in the future. July 15 Performed $4,250 of the services paid for on June 14....
Vigeland Company completed the following transactions during Year 1. Vigeland’s fiscal year ends on December 31....
Vigeland Company completed the following transactions during Year 1. Vigeland’s fiscal year ends on December 31. Jan. 15 Purchased and paid for merchandise. The invoice amount was $14,900; assume a perpetual inventory system. Apr. 1 Borrowed $896,000 from Summit Bank for general use; signed a 10-month, 6% annual interest-bearing note for the money. June 14 Received a $22,000 customer deposit for services to be performed in the future. July 15 Performed $4,350 of the services paid for on June 14....
The lolowing informetion applies to the questions displayed below Vigeland Company completed ne t...
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ACCT 2301 1. Your goal is to be able to withdraw $10,000 for each of the next nine years beginning one year from today and also to withdraw $50,000 ten years from today. The return on the investment is expected to be 696. What's the amount that needs to be invested today? (2 points) 2. Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on December 31. Apr. 1 Borrowed $700,000 from Summit Bank for general...
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Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on December 31 Jan. 15 Purchased and paid for merchandise. The invoice amount was $14,500; assume a perpetual inventory system. Apr. 1 Borrowed $666,000 from Summit Bank for general use; signed a 10-month, 13% annual interest-bearing note for the money. June 14 Received a $17,000 customer deposit for services to be performed in the future. July 15 Performed $4,250 of the services paid for on June 14....
The lolowing informetion applies to the questions displayed below Vigeland Company completed ne tollowing transacions during Year 1. Vigeland's tscal year ends on December 3t Jan 15 Purchased and paid for merchandise. The involice amount was $15100, assume a perpetual inventory system Apr 1 Borrowed $868,000 from Summit Bank for general use; signed a 10-month, 14% annual interest-bearing note for the money. June14 Recelved a $19.000 customer deposit for services to be performed in the future July15 Pertormed 33150 or...
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