1.
Date | Account Titles | Debit | Credit |
Dec 31, 2018 | $ | $ | |
a. | Interest Expense ( $ 600,000 x 10 % x 5/12 ) | 25,000 | |
Interest Payable | 25,000 | ||
b. | No adjusting entry required | 0 | 0 |
c. | Accounts Receivable | 18,000 | |
Unearned Revenue | 18,000 | ||
d. | Rent Revenue ( $ 30,000 / 12 * 10) | 25,000 | |
Unearned Rent Revenue | 25,000 |
2.
Balance Sheet (
Partial ) December 31, 2018 |
||
Current Liabilities | ||
Accounts Payable | $ 35,000 | |
Interest Payable | 25,000 | |
Unearned Sales Revenue | 18,000 | |
Unearned Rent Revenue | 25,000 | |
Bank Notes Payable | 600,000 | |
Mortgage Notes Payable: Current | 250,000 | |
Total Current Liabilities | $ 953,000 | |
Long Term Liabilities | ||
Mortgage Notes Payable | 950,000 |
P 13-4 Various liabilities .LO13-1 through LO13-4 The unadjusted trial balance of the Manufacturing Equitable at...
P 13–4 Various liabilities LO13–1 through @L013-4 Q The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its fiscal year, included the following account balances. Manufacturing's 2021 financial statements were issued on April 1, 2022. Accounts receivable Accounts payable 10% notes, payable to bank Mortgage note payable $ 92,500 35,000 600,000 1,200,000 Other information: a. The bank notes, issued August 1, 2021, are due on July 31, 2022, and pay interest at a rate...
Problem 13-4 Various liabilities (LO13-1, 13-2, 13-3, 13-4) The unadjusted trial balance of the Manufacturing Equitable at December 31, 2018, the end of its fiscal year, included the following account balances. Manufacturing's 2018 financial statements were issued on Apr 1, 2019 Accounts receivable Accounts payable Mortege note payable PRE Other information a. The banknotes, issued August 1, 2018, are due on July 31 2019, and pay interest at a rate of 2. payable at maturity b The mortgage note is...
Problem 13-4 Various liabilities [LO13-1, 13-2, 13-3, 13-4] The unadjusted trial balance of the Manufacturing Equitable at December 31, 2018, the end of its fiscal year, included the following account balances. Manufacturing’s 2018 financial statements were issued on April 1, 2019. Accounts receivable $ 97,250 Accounts payable 52,600 Bank notes payable 618,000 Mortgage note payable 1,334,000 Other information: The bank notes, issued August 1, 2018, are due on July 31, 2019, and pay interest at a rate of 15%, payable...
4 The unadjusted trial balance of the Manufacturing Equitable at December 31, 2018, the end of its fiscal year, included the following account balances. Manufacturing's 2018 financial statements were issued on April 1, 2019 Accounts receivable Accounts payable Bank notes payable Mortgage note payable $ 103,000 41,000 658,000 1,345,000 Other information: a. The bank notes, issued August 1, 2018, are due on July 31, 2019, and pay interest at a rate of 12%, payable at maturity. b. The mortgage note...
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2018, the end of its fiscal year, included the following account balances. Manufacturing’s 2018 financial statements were issued on April 1, 2019. Accounts receivable $ 98,000 Accounts payable 38,800 Bank notes payable 638,000 Mortgage note payable 1,290,000 Other information: The bank notes, issued August 1, 2018, are due on July 31, 2019, and pay interest at a rate of 9%, payable at maturity. The mortgage note is due on...
tio ter 13 HW Problems 10 Problem 13-4 Various liabilities [Lo13-1, 13-2, 13-3,13-4 The unadjusted trial balance of the Manufacturing Equitable account balances. Manufacturing's 2018 financial statements were issued on April 1, 2019 at December 31, 2018, the end of its fiscal year, included the following $ 95,750 37.600 667,000 1,442,000 payable Mortgage note payable Other information: a. The bank notes, issued August 1, 2018, are due on Juya 2019, and pay interest at a rate of 12%, payable at...
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its fiscal year, included the following account balances. Manufacturing’s 2021 financial statements were issued on April 1, 2022. Accounts receivable $ 98,000 Accounts payable 38,800 9% notes, payable to bank 638,000 Mortgage note payable 1,290,000 Other information: The bank notes, issued August 1, 2021, are due on July 31, 2022, and pay interest at a rate of 9%, payable at maturity. The mortgage note is...
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its fiscal year, included the following account balances Manufacturing's 2021 financial statements were issued on April 1, 2022 $ Accounts receivable Accounts payable 10% notes, payable to bank Mortgage note payable 116,500 44,200 642,000 1,360,000 Other information: a. The bank notes, issued August 1, 2021, are due on July 31, 2022, and pay interest at a rate of 10%, payable at maturity b. The mortgage...
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its fiscal year, included the following account balances. Manufacturing's 2021 financial statements were issued on April 1, 2022. $ Accounts receivable Accounts payable 12% notes, payable to bank Mortgage note payable 99,000 35,400 698,000 1,315,000 Other information: a. The bank notes, issued August 1, 2021, are due on July 31, 2022, and pay interest at a rate of 12%, payable at maturity. b. The mortgage...
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its fiscal year, included the following account balances. Manufacturing’s 2021 financial statements were issued on April 1, 2022. Accounts receivable $ 107,000 Accounts payable 36,800 15% notes, payable to bank 630,000 Mortgage note payable 1,460,000 Other information: The bank notes, issued August 1, 2021, are due on July 31, 2022, and pay interest at a rate of 15%, payable at maturity. The mortgage note is...