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Yuri Co. operates a chain of gift shops. The company maintains a defined contribution pension plan...
8 Need this done asap. Thanks in advance! Pension Plan Entries Yuri Co. operates a chain of gift shops. The company mai...
8
Need this done asap. Thanks in advance!
Pension Plan Entries Yuri Co. operates a chain of gift shops. The company maintains a defined contribution pension plan for its employees. The plan requires quarterly installments to be paid to the funding agent, Whims Funds, by the fifteenth of the month following the end of each quarter. Assume that the pension cost is $117,300 for the quarter ended December 31. a. Journalize the entry to record the accrued pension liability on...
Martin Services Company provides its employees vacation benefits and a defined contribution pension plan. Employees earned...
Martin Services Company provides its employees vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $42,000 for the period. The pension plan requires a contribution to the plan administrator equal to 10% of employee salaries. Salaries were $500,000 during the period. Provide the journal entries for (a) the vacation pay and (b) the pension benefit. Provide journal entry for the vacation pay on December 31. JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 2 Provide journal...
Fukushima Company provides its employees with vacation benefits and a defined contribution pension plan. Employees earned...
Fukushima Company provides its employees with vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $23,000 for the period. The pension plan requires a contribution to the plan administrator equal to 6% of employee salaries. Salaries were $262,000 during the period, and the full amount due was contributed to the pension plan administrator. On December 31, provide the journal entry for the (a) vacation pay on page 11 of the journal and (b) pension benefit on...
Only need help with part B. Thank you. Fosters Manufacturing Co. warrants its products for one...
Only need help with part B. Thank you.
Fosters Manufacturing Co. warrants its products for one year. The estimated product warranty is 2% of sales. Assume that sales were $1,500,000 for January. On February 7, a customer received warranty repairs requiring $325 of parts and $120 of labor. Required: a. Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty. Refer to the Chart of...
A company records inventory purchases at standard cost and also records purchase price variances. Required: Prepare...
A company records inventory purchases at standard cost and also records purchase price variances. Required: Prepare the journal entry for a purchase of 6,000 widgets that were bought at $8.00 and have a standard cost of $8.15. Refer to the Chart of Accounts for exact wording of account titles Prepare the journal entry on December 31. Refer to the Chart of Accounts for exact wording of account titles PAGE 1 JOURNAL DESCRIPTION POST. REF. DEBIT CREDIT
Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and...
Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $360,000, $147,000, and $96,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $32,000, and work in process at the end of the period totaled $28,200. Required: a. (1) On September 30, journalize the entry to record...
On June 30 (the end of the period), Brown Company has a credit balance of $2,100 in Allowance for...
On June 30 (the end of the period), Brown Company has a credit balance of $2,100 in Allowance for Doubtful Accounts. An evaluation of accounts receivable indicates that the proper balance should be $31,265. Required: Journalize the appropriate adjusting entry. Refer to the Chart of Accounts for exact wording of account titles. Journalize the appropriate adjusting entry on June 30. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST....
Calculator Instruction Chart Of Accounts General Journal Instruction On April 2 a corporation purchased for cash...
Calculator Instruction Chart Of Accounts General Journal Instruction On April 2 a corporation purchased for cash 7,000 shares of its own $11 par common stock at $27 a share. It sold 4,000 of the treasury shares at $30 a share on June 10. The remaining 3,000 shares were sold on November 10 for $23 a share. Required: (a) Journalize the entries to record the purchase (treasury stock is recorded at cost). (b) Joumalize the entries to record the sale of...
The payroll register of Seaside Architecture Company indicates $920 of social security and $256 of Medicare...
The payroll register of Seaside Architecture Company indicates $920 of social security and $256 of Medicare tax withheld on total salaries of $15,000 for the period. Federal withholding for the period totaled $3,260. Required: Prepare the journal entry for the period’s payroll. Refer to the Chart of Accounts for exact wording of account titles. Prepare the journal entry for the period’s payroll on December 31. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL...
Chart of Accounts General Journal Instructions Prepare the December 31 hdjusting entries for the following transactions...
Chart of Accounts General Journal Instructions Prepare the December 31 hdjusting entries for the following transactions 1. Fees accrued but not billed, $6,300. 2. The Supplies account balance on December 31, $4,750, Supplies on hand, $960. 3. Wages accrued but not paid, $2,700. 4. Depreciation of office equipment, $1,650. 5. Rent expired during year, $10,800. General Journal Prepare the December 31 adjusting entries for each transactions. Refer to the Chart of Accounts for exact wording of account titles PAGE 1...
8
Need this done asap. Thanks in advance!
Pension Plan Entries Yuri Co. operates a chain of gift shops. The company maintains a defined contribution pension plan for its employees. The plan requires quarterly installments to be paid to the funding agent, Whims Funds, by the fifteenth of the month following the end of each quarter. Assume that the pension cost is $117,300 for the quarter ended December 31. a. Journalize the entry to record the accrued pension liability on...
Only need help with part B. Thank you.
Fosters Manufacturing Co. warrants its products for one year. The estimated product warranty is 2% of sales. Assume that sales were $1,500,000 for January. On February 7, a customer received warranty repairs requiring $325 of parts and $120 of labor. Required: a. Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty. Refer to the Chart of...
A company records inventory purchases at standard cost and also records purchase price variances. Required: Prepare the journal entry for a purchase of 6,000 widgets that were bought at $8.00 and have a standard cost of $8.15. Refer to the Chart of Accounts for exact wording of account titles Prepare the journal entry on December 31. Refer to the Chart of Accounts for exact wording of account titles PAGE 1 JOURNAL DESCRIPTION POST. REF. DEBIT CREDIT
Calculator Instruction Chart Of Accounts General Journal Instruction On April 2 a corporation purchased for cash 7,000 shares of its own $11 par common stock at $27 a share. It sold 4,000 of the treasury shares at $30 a share on June 10. The remaining 3,000 shares were sold on November 10 for $23 a share. Required: (a) Journalize the entries to record the purchase (treasury stock is recorded at cost). (b) Joumalize the entries to record the sale of...
Chart of Accounts General Journal Instructions Prepare the December 31 hdjusting entries for the following transactions 1. Fees accrued but not billed, $6,300. 2. The Supplies account balance on December 31, $4,750, Supplies on hand, $960. 3. Wages accrued but not paid, $2,700. 4. Depreciation of office equipment, $1,650. 5. Rent expired during year, $10,800. General Journal Prepare the December 31 adjusting entries for each transactions. Refer to the Chart of Accounts for exact wording of account titles PAGE 1...
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