Print eBook Question 3 P Flag question Marked out of 6.00 Not complete Accrual Adjusting Entries...
Accrual Adjusting Entries Prepare adjusting journal entries for Sparky Electronics for the following items: a. Salaries for employees in the amount of $9,500 have not been paid. b. Interest expense of $4,560 for an outstanding note. c. Work performed but not yet billed for $13,300. General Journal Description Debit Ref. a. o o o o o
eBook Print Question 2 Not complete Marked out of 3.00 P Flag question Adjusting Entry for Prepaid Insurance Cooper Inc. recorded the purchase of a three-year insurance policy on July 1 in the amount of $5,400 by debiting Prepaid Insurance and crediting Cash. Prepare the necessary December 31 year-end adjusting entry. General Journal Description Debit Credit Check Previous Save Answers Next →
eBook Print Question 1 Not complete Marked out of 3.00 P Flag question Adjusting Entry for Depreciation Cowley Company just completed its first year of operations. The December 31 equipment account has a balance of $10,000. There is no balance in the Accumulated Depreciation Equipment account or in the Depreciation Expense account. The accountant estimates the yearly equipment depreciation to be $2,000. Prepare the required adjusting entry to record the yearly depreciation for equipment. Debit Credit General Journal Description Accumulated...
Finish attempt ... eBook Print Question 2 Not complete Marked out of 8.00 P Flag question Journal Entries for Sale, Return, and Remittance-Perpetual System On September 13, Tomas Company sold merchandise with an invoice price of $1,200 ($600 cost), with terms of 2/10, n/30, to Dalton Company. On September 17, $250 of the merchandise ($80 cost) was returned because it was the wrong model. On September 23, Tomas Company received a check for the amount due from Dalton Company. Required...
Question 1 Net complete Marked out of 1.00 P Flag question Adjusting Entries for interest At December 31, 2011, Hoffman Corporation had two notes payable outstanding (notes 1 and 2). At December 31, 2012, Hoffman also had two notes payable outstanding (notes 3 and 4). These notes are described below. Date of note Principal Amount interest Rate Number of Days December 31, 2011 Note 1 Novemer 16, 2011 $14,000 Note 2 December 04, 2011 18.000 December 31, 2012 December 07,...
Question 1 Not complete Marked out of 18.00 P Flag question Adjusting Entries for Interest The following note transactions occurred during the year for Towne Company: Nov. 25 Towne issued a 90-day, nine percent note payable for $8,000 to Hyatt Company for merchandise Dec 7 Towne signed a 120-day, $30,000 note at the bank at ten percent. Dec. 22 Towne gave Barr, Inc., a $12,000, four percent, 60-day note in payment of account. Prepare the general journal entries necessary to...
Question 2 Not yet answered Marked out of 40.00 P Flag question Journal Entries for Merchandise Transactions on Seller's and Buyer's Records-Periodic System The following are selected transactions for Jefferson, Inc., during the month of April: April 20 Sold and shipped on account to Lind Stores merchandise for $3,000, with terms of 1/10, n/30. April 27 Lind Stores returned defective merchandise billed at $300 on April 20. April 29 Received from Lind Stores a check for full settlement of the...
Question 6 incomplete answer Marked out of 1.00 P Flag question Adjusting Entries for each of the following unrelated situations, prepare the necessary adjusting entry in general journal form a. Unrecorded depreciation on equipment is $1,850 b. The Supplies account has a balance of 54,000. Supplies on hand at the end of the period totaled $2,500. c. On the date for preparing financial statements, an estimated utilities expense of $610 has been incurred, but no utility bill has been received...
Question 3 Not complete Marked out of 5.00 P Flag question The Account The following transactions occurred during December, the first month of operations for Farly Company. Prepare journal entries and create a T-account for accounts payable that includes the following five transactions 1 Purchased 1900 of vwentory on account 2 Purchased 5200 of inventory on account. 3 Parduers 5550 4 Purchased 500 of w ory on account 5 Paid suppliers 5300 General Journal 2/SO e A F S O...
Finish attempt ... eBook AP Question 3 Not complete Marked out of 13.00 P Flag question Journal Entries for Purchase, Return, and Remittance-Perpetual System On April 13, the Albert Company purchased $26,000 of merchandise from the Krausman Company, with terms of 1/10, n/30. On April 15, Albert paid $400 to Ace Trucking Company for freight on the shipment. On April 18, Albert Company returned $900 of merchandise for credit. Final payment was made to Krausman on April 22. Albert Company...