Homework Answers
Answer: Debit Cash $ 4,775 Debit Credit Card Expense $ 225 Credit Sales $ 5,000
Credit card expense = $ 5,000 x 4.5 % = $ 225
Net cash received = $ 5,000 - $ 225 = $ 4,775.
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m4 Chapters 7-8 X Metp://newcornectunhedacation.com cam 4 Chapters 78 /comedel Help Seve Exit Brinker accepts all...
Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 3% charge...
Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 3% charge on sales for using its card. On May 26, Brinker had $5,300 In First Savings Bank Card credit sales. What entry should Brinker make on May 26 to record the deposit? Multiple Choice O Debit Cash $5,141; debit Credit Card Expense $159. credit Sales $5.300. O Debit Cash $5,300; credit Sales $5,300. 0 Debit Accounts Receivable $5,300: credit Sales $5.300. 0 Debit Accounts Receivable...
Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 3% charg...
Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 3% charge on sales for using its card. On June 28, Jervis had $3,500 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit? Multiple Choice Debit Cash $3,500; credit Sales $3,500 Debit Accounts Receivable $3,500; credit Sales $3,500 O Debit Cash $3,605; credit Credit Card Expense $105; credit Sales $3,500 O Debit Cash $3,395; debit...
4 Review - Chapters 8,9 & 11 6 Help Save & Exit Check my At the...
4 Review - Chapters 8,9 & 11 6 Help Save & Exit Check my At the end of the day, the cash register tape shows $1,200 in cash sales, but the count of cash in the register is $1.260. The proper entry to account for this excess is: Muluple Choice O Debit Cash $1,200, credit Sales $1,200 Debit Cash $1250, credit Soles $1.260. 0 O Debit Cash $1,260, credit Sales S1200, credit Cash Over and Short $60 0 noch C...
onsel statemsent f The following sa Chapters 18, 7 and 8 th tice test to help...
onsel statemsent f The following sa Chapters 18, 7 and 8 th tice test to help you idA t above, The sample es III. Accounts Receivable (15 points) Platinum Pools Company has the following information reported on its 2003 comparative Balance Sheet 2002 2003 $1,027,000 $958,000 Accounts Receivable (less allowances for doubtful accounts of S14,000 in 2003 and $17,500 in 2002) Additional information: During 2003, Platinum wrote-off $20,000 of accounts that had been identified as uncollectible. Platinum makes all sales...
Please help me with part #8. I provided parts 1-7. (Part 5 is optional) Comprehensive Problem...
Please help me with part #8. I provided parts 1-7. (Part 5 is
optional)
Comprehensive Problem 2 Part 1 and Part 2 Palisade Creek Co, is a merchandising business that uses the perpetual inventory system. The account balances for Palsade Creek Co. as of May 1, 2019 (unless otherwise indicated), are as follows: 110 Cash $83,600 112 Accounts Receivable 233,900 115 Merchandise Inventory 116 Estimated Returns Inventory 624,400 28,000 117 Prepaid Insurance 16,800 118 Store Supplies 11,400 569,500 123 Store...
Please help me with part 7! I provided parts 1-6. (Part 5 is optional I did...
Please help me with part 7! I provided parts 1-6. (Part 5 is
optional I did not add it)
Comprehensive Problem 2 Part 1 and Part 2 Palisade Creek Co. is a merchandising business that uses the perpetual inventory system balances for Palisade Creek Co as of May 1, 2019 (unless otherwise indicated), are as follows 110 Cash $63.600 112 Accounts Receivable 233.900 115 Merchandise Inventory 62.400 116 Estimated Returns Inventory 117 Prepaid Insurance 16,800 118 Store Supplies 11.400 123...
i need requirement 4-7 please . just submitted the parts i already did . thank you...
i need requirement 4-7 please . just submitted the parts i
already did . thank you !
k Dividends Fuel Expense 0 Requirements Х reciation- O Bal he trial balance.) are an unadju s you prepare Miller Deliv Unadjusted Decembe 1. Record each transaction in the journal using the following chart of accounts. Explanations are not required. Cash Retained Earnings Accounts Receivable Dividends Office Supplies Income Summary Prepaid Insurance Service Revenue Truck Salaries Expense Accumulated Depreciation-Truck Depreciation Expense—Truck Accounts Payable...
Problem 4-21 (Static) Record transactions and adjustments LO 2, 6, 7 Use the horizontal model, or...
Problem 4-21 (Static) Record transactions and adjustments LO 2, 6, 7 Use the horizontal model, or write the journal entry, for each of the following transactions and adjustments that occurred during the first year of operations at Kissick Co. a. Issued 100,000 shares of $5-par-value common stock for $500,000 in cash. b. Borrowed $250,000 from Oglesby National Bank and signed a 12% note due in three years. C. Incurred and paid $190,000 in salaries for the year. d. Purchased $320,000...
i just need help on #4. preparing income statement, retained earnings statement, and the balance sheet....
i
just need help on #4. preparing income statement, retained earnings
statement, and the balance sheet.
Accounting Cycle Project (Group) ACCT3303 Spring 2020 Assignments Required: 1) Making journal entries for each transaction in chronological order. 2) Posting to the general ledger and prepare trial balance before adjustment 3) Making adjusting entries and prepare adjusted trial balance. 4) Prepare Income Statement, Retained Earnings Statement, and Balance Sheet 5) Making closing entries 6) Put all your work on excel spreadsheet. Each group...
i need help with number 4, preparing the income statement, retained earnings statement, and the balance...
i need help with number 4, preparing the income statement,
retained earnings statement, and the balance sheet. this is the
information that i have.
Accounting Cycle Project (Group) ACCT3303 Spring 2020 Assignments Required: 1) Making journal entries for each transaction in chronological order. 2) Posting to the general ledger and prepare trial balance before adjustment. 3) Making adjusting entries and prepare adjusted trial balance. 4) Prepare Income Statement, Retained Earnings Statement, and Balance Sheet 5) Making closing entries. 6) Put...
Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 3% charge on sales for using its card. On May 26, Brinker had $5,300 In First Savings Bank Card credit sales. What entry should Brinker make on May 26 to record the deposit? Multiple Choice O Debit Cash $5,141; debit Credit Card Expense $159. credit Sales $5.300. O Debit Cash $5,300; credit Sales $5,300. 0 Debit Accounts Receivable $5,300: credit Sales $5.300. 0 Debit Accounts Receivable...
Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 3% charge on sales for using its card. On June 28, Jervis had $3,500 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit? Multiple Choice Debit Cash $3,500; credit Sales $3,500 Debit Accounts Receivable $3,500; credit Sales $3,500 O Debit Cash $3,605; credit Credit Card Expense $105; credit Sales $3,500 O Debit Cash $3,395; debit...
4 Review - Chapters 8,9 & 11 6 Help Save & Exit Check my At the end of the day, the cash register tape shows $1,200 in cash sales, but the count of cash in the register is $1.260. The proper entry to account for this excess is: Muluple Choice O Debit Cash $1,200, credit Sales $1,200 Debit Cash $1250, credit Soles $1.260. 0 O Debit Cash $1,260, credit Sales S1200, credit Cash Over and Short $60 0 noch C...
onsel statemsent f The following sa Chapters 18, 7 and 8 th tice test to help you idA t above, The sample es III. Accounts Receivable (15 points) Platinum Pools Company has the following information reported on its 2003 comparative Balance Sheet 2002 2003 $1,027,000 $958,000 Accounts Receivable (less allowances for doubtful accounts of S14,000 in 2003 and $17,500 in 2002) Additional information: During 2003, Platinum wrote-off $20,000 of accounts that had been identified as uncollectible. Platinum makes all sales...
Please help me with part #8. I provided parts 1-7. (Part 5 is
optional)
Comprehensive Problem 2 Part 1 and Part 2 Palisade Creek Co, is a merchandising business that uses the perpetual inventory system. The account balances for Palsade Creek Co. as of May 1, 2019 (unless otherwise indicated), are as follows: 110 Cash $83,600 112 Accounts Receivable 233,900 115 Merchandise Inventory 116 Estimated Returns Inventory 624,400 28,000 117 Prepaid Insurance 16,800 118 Store Supplies 11,400 569,500 123 Store...
Please help me with part 7! I provided parts 1-6. (Part 5 is
optional I did not add it)
Comprehensive Problem 2 Part 1 and Part 2 Palisade Creek Co. is a merchandising business that uses the perpetual inventory system balances for Palisade Creek Co as of May 1, 2019 (unless otherwise indicated), are as follows 110 Cash $63.600 112 Accounts Receivable 233.900 115 Merchandise Inventory 62.400 116 Estimated Returns Inventory 117 Prepaid Insurance 16,800 118 Store Supplies 11.400 123...
i need requirement 4-7 please . just submitted the parts i
already did . thank you !
k Dividends Fuel Expense 0 Requirements Х reciation- O Bal he trial balance.) are an unadju s you prepare Miller Deliv Unadjusted Decembe 1. Record each transaction in the journal using the following chart of accounts. Explanations are not required. Cash Retained Earnings Accounts Receivable Dividends Office Supplies Income Summary Prepaid Insurance Service Revenue Truck Salaries Expense Accumulated Depreciation-Truck Depreciation Expense—Truck Accounts Payable...
Problem 4-21 (Static) Record transactions and adjustments LO 2, 6, 7 Use the horizontal model, or write the journal entry, for each of the following transactions and adjustments that occurred during the first year of operations at Kissick Co. a. Issued 100,000 shares of $5-par-value common stock for $500,000 in cash. b. Borrowed $250,000 from Oglesby National Bank and signed a 12% note due in three years. C. Incurred and paid $190,000 in salaries for the year. d. Purchased $320,000...
i
just need help on #4. preparing income statement, retained earnings
statement, and the balance sheet.
Accounting Cycle Project (Group) ACCT3303 Spring 2020 Assignments Required: 1) Making journal entries for each transaction in chronological order. 2) Posting to the general ledger and prepare trial balance before adjustment 3) Making adjusting entries and prepare adjusted trial balance. 4) Prepare Income Statement, Retained Earnings Statement, and Balance Sheet 5) Making closing entries 6) Put all your work on excel spreadsheet. Each group...
i need help with number 4, preparing the income statement,
retained earnings statement, and the balance sheet. this is the
information that i have.
Accounting Cycle Project (Group) ACCT3303 Spring 2020 Assignments Required: 1) Making journal entries for each transaction in chronological order. 2) Posting to the general ledger and prepare trial balance before adjustment. 3) Making adjusting entries and prepare adjusted trial balance. 4) Prepare Income Statement, Retained Earnings Statement, and Balance Sheet 5) Making closing entries. 6) Put...
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