I have figured that the A/R journal entry should be cash. But I cannot find out the values for the two journal entries for No. 2. I have attempted $444,000/2= $222,000.00 but that answer is incorrect.
Homework Answers
| No | Event | General Journal | Debit | Credit |
| 1 | 1 | Cash | $444000 | |
| Deferred Revenue-extended warranties | $444000 | |||
| 2 | 2 | Deferred Revenue-extended warranties | $20813 | |
| Revenue-extended warranties | $20813 |
Extended warranty starts after the 90 days of the original
warranty
Hence = $444000*3/12 = $111000
Warranty = 111000*(4.5/24) = 20813
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I have figured that the A/R journal entry should be cash. But I
cannot find out...
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Building
Cash
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Copyrights
Cost of Goods Sold
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Can someone please answer this question? I have re-posted this
question 3 times and I really need some help with this one. Also,
please give an explanation for the correct answer. Thank
you.
Complete this question by
entering your answers in the tabs below.
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General journal entry options:
No Journal Entry Required
Accounts Payable
Accounts Receivable
Accumulated Amortization
Accumulated Depreciation—Buildings
Accumulated Depreciation—Equipment
Accumulated Depreciation—Vehicles
Accumulated Other Comprehensive Income
Additional Paid-In Capital, Common Stock
Additional Paid-In Capital, Preferred Stock
Additional Paid-In Capital, Treasury Stock
Advertising Expense
Allowance for Doubtful Accounts
Amortization Expense
Bad Debt Expense
Bonds Payable
Building
Cash
Cash Equivalents
Cash Overage
Cash Shortage
Charitable Contributions Payable
Common Stock
Copyrights
Cost of Goods Sold
Deferred Revenue
Delivery Expense
Depreciation Expense
Discount on Bonds Payable...
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Can someone please answer this question? I have re-posted this
question 3 times and I really need some help with this one. Also,
please give an explanation for the correct answer. Thank
you.
Complete this question by
entering your answers in the tabs below.
In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related to the contract is as follows: 2023 $2,371,600 Cost...
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