Homework Answers
| May 1,2020 | Notes Receivable | 27450 | ||
| Accounts Receivable | 27450 | |||
| Dec 31,2017 | Interest Receivable | 1464 | =27450*8%*8/12 | |
| Interest Revenue | 1464 | |||
| Dec 31,2017 | Interest Revenue | 1464 | ||
| Income Summary | 1464 | |||
| May 1,2018 | Cash | 29646 | ||
| Interest Receivable | 1464 | |||
| Interest Revenue | 732 | =27450*8%*4/12 | ||
| Notes Receivable | 27450 |
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ment> Open Assignment: CALC MENT RESOURCES Exercise 8-13 Record the following transactions for Sheridan Company in...
Assignment Exercise 8-11 Record the following transactions for Redeker Co. in the amount is entered. Do...
Assignment Exercise 8-11 Record the following transactions for Redeker Co. in the amount is entered. Do not indent manually.) entries in the order presented in the problem credit accounts are for Mark Chamber's outstanding accounts receivable 2017 May Dec Dec 2013 May 1 31 31 Received a 540, 50, 12 months, 12 note in exch Accrued interest on the Chamber note Closed the best revenge account. 1 Received principal plus interest on the Chamber note (No interest has been credin...
Exercise 8-13 Partially correct answer. Your answer is partially correct. Try again. Record the following transactions...
Exercise 8-13 Partially correct
answer. Your answer is partially correct. Try again. Record the
following transactions for Cullumber Company in the general
journal. (Credit account titles are automatically indented when
amount is entered. Do not indent manually. Record journal entries
in the order presented in the problem.)
Record the following transactions for Cullumber Company in the general journal. (Credit account titles are automatically indented w problem.) 2019 1 Received a $6,000, 12-months, 8% note in exchange for Mark Chamber's outstanding...
Exercise 8-11 Sheridan Co. has the following transactions related to notes receivable during the last 2...
Exercise 8-11 Sheridan Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned $63,000 cash to C. Bohr on a 12-month, 8% note. Dec. 11 Sold goods to K. R. Pine, Inc., receiving a $3,600, 90-day, 5% note. 16 Received a $12,000, 180-day, 7% note to settle an open account from A. Murdock. 31 Accrued interest revenue...
ASSIGNMENT RESOURCES Exercise 13-2 The following are selected 2017 transactions of Larkspur Corporation. Copy of CPT...
ASSIGNMENT RESOURCES Exercise 13-2 The following are selected 2017 transactions of Larkspur Corporation. Copy of CPT 13 HW Sept. 1 Purchased inventory from t Company on account for $58,600. Larkspur records purchases gross and uses a penedic nventory system. Oct. 1 Issued a $58,600, 12-month, 89% note to Encino in payment of account. Oct. 1 Borrowed $58,600 from the Shore Bank by signing a 12-manth, zero-interest-bearing $63,720 note. Exercise 13-8 Exercise 13-19 Problem 13-14 Prepare journal entries for the selected...
Exercise 16-02 Sheridan Corporation had the following transactions pertaining to debt investments. 1. Purchased 80 8%,...
Exercise 16-02 Sheridan Corporation had the following transactions pertaining to debt investments. 1. Purchased 80 8%, $1,050 Leeds Co. bonds for $84,000 cash. Interest is payable annually on January 1, 2020. 2. Accrued interest on Leeds Co. bonds on December 31, 2020. 3. Received interest on Leeds Co. bonds on January 1, 2021. 4. Sold 30 Leeds Co. bonds for $69,300 on January 1, 2021. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not...
leyPLUS Kimmel, Financial Accounting, 9e MENT RESOURCES Exercise 10-13 On January 1, Sandhill Co. Issued $363,000,...
leyPLUS Kimmel, Financial Accounting, 9e MENT RESOURCES Exercise 10-13 On January 1, Sandhill Co. Issued $363,000, 9%, 10-year bonds at face value. Interest is payable annually on January 1. ise 10-03 OE 10E Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not in toise 1025 rost 10.25 Date Account Titles and Explanation Debit Credit Jan. 1 w Score w Results by Study tive LINK TO VIDEO...
Exercise 1 Prepare journal entries to record the following transactions entered into by ABC Company: 2020...
Exercise 1 Prepare journal entries to record the following transactions entered into by ABC Company: 2020 Aug. 1 Received a $30,000, 12%, 1-year note from Davis Cortez as full payment on his account. Sept. 10 Sold merchandise on account to Melendez, Inc. for $20,000, terms 2/10, n/30. Oct. 9 Received payment in full from Melendez, Inc. Dec. 31 Accrued interest on Cortez's note. 2021 Aug. 1 Davis Cortez honored his promissory note by sending the face amount plus interest. No interest has been accrued in 2021.
Exercise 9-14 Pharoah Company had the following select transactions. Apr. 1, 2020 Accepted Goodwin Company's 12-month,...
Exercise 9-14 Pharoah Company had the following select transactions. Apr. 1, 2020 Accepted Goodwin Company's 12-month, 10% note in settlement of a $30,400 account receivable. July 1, 2020 Loaned $32,400 cash to Thomas Slocombe on a 9-month, 8% note. Dec. 31, 2020 Accrued interest on all notes receivable. Apr. 1, 2021 Received principal plus interest on the Goodwin note. Apr. 1, 2021 Thomas Slocombe dishonored its note; Pharoah expects it will eventually collect. Prepare journal entries to record the transactions....
Brief Exercise 8-02 Record the following transactions on the books of Sheridan Co. (Omit cost of goods sold entries.) (C...
Brief Exercise 8-02 Record the following transactions on the books of Sheridan Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) On July 1, Sheridan Co. sold merchandise on account to Stacey Inc. for $21,540, terms 4/10, n/30. (b) On July 8, Stacey Inc. returned merchandise worth $2,540 to Sheridan Co. (c) On July 11, Stacey Inc....
Please try to keep the same format! Exercise 9-12 a-b Sheridan Supply Co. has the following...
Please try to keep the same format!
Exercise 9-12 a-b Sheridan Supply Co. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at December 31. Nov. 1 Dec. 11 16 31 Loaned $21,600 cash to Manny Lopez on a 12-month, 10% note. Sold goods to Ralph Kremer, Inc., receiving a $54,000, 90-day, 8% note. Received a $53,280, 180 day, 10% note in exchange for...
Assignment Exercise 8-11 Record the following transactions for Redeker Co. in the amount is entered. Do not indent manually.) entries in the order presented in the problem credit accounts are for Mark Chamber's outstanding accounts receivable 2017 May Dec Dec 2013 May 1 31 31 Received a 540, 50, 12 months, 12 note in exch Accrued interest on the Chamber note Closed the best revenge account. 1 Received principal plus interest on the Chamber note (No interest has been credin...
Exercise 8-13 Partially correct
answer. Your answer is partially correct. Try again. Record the
following transactions for Cullumber Company in the general
journal. (Credit account titles are automatically indented when
amount is entered. Do not indent manually. Record journal entries
in the order presented in the problem.)
Record the following transactions for Cullumber Company in the general journal. (Credit account titles are automatically indented w problem.) 2019 1 Received a $6,000, 12-months, 8% note in exchange for Mark Chamber's outstanding...
Exercise 8-11 Sheridan Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned $63,000 cash to C. Bohr on a 12-month, 8% note. Dec. 11 Sold goods to K. R. Pine, Inc., receiving a $3,600, 90-day, 5% note. 16 Received a $12,000, 180-day, 7% note to settle an open account from A. Murdock. 31 Accrued interest revenue...
ASSIGNMENT RESOURCES Exercise 13-2 The following are selected 2017 transactions of Larkspur Corporation. Copy of CPT 13 HW Sept. 1 Purchased inventory from t Company on account for $58,600. Larkspur records purchases gross and uses a penedic nventory system. Oct. 1 Issued a $58,600, 12-month, 89% note to Encino in payment of account. Oct. 1 Borrowed $58,600 from the Shore Bank by signing a 12-manth, zero-interest-bearing $63,720 note. Exercise 13-8 Exercise 13-19 Problem 13-14 Prepare journal entries for the selected...
Exercise 16-02 Sheridan Corporation had the following transactions pertaining to debt investments. 1. Purchased 80 8%, $1,050 Leeds Co. bonds for $84,000 cash. Interest is payable annually on January 1, 2020. 2. Accrued interest on Leeds Co. bonds on December 31, 2020. 3. Received interest on Leeds Co. bonds on January 1, 2021. 4. Sold 30 Leeds Co. bonds for $69,300 on January 1, 2021. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not...
leyPLUS Kimmel, Financial Accounting, 9e MENT RESOURCES Exercise 10-13 On January 1, Sandhill Co. Issued $363,000, 9%, 10-year bonds at face value. Interest is payable annually on January 1. ise 10-03 OE 10E Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not in toise 1025 rost 10.25 Date Account Titles and Explanation Debit Credit Jan. 1 w Score w Results by Study tive LINK TO VIDEO...
Exercise 9-14 Pharoah Company had the following select transactions. Apr. 1, 2020 Accepted Goodwin Company's 12-month, 10% note in settlement of a $30,400 account receivable. July 1, 2020 Loaned $32,400 cash to Thomas Slocombe on a 9-month, 8% note. Dec. 31, 2020 Accrued interest on all notes receivable. Apr. 1, 2021 Received principal plus interest on the Goodwin note. Apr. 1, 2021 Thomas Slocombe dishonored its note; Pharoah expects it will eventually collect. Prepare journal entries to record the transactions....
Please try to keep the same format!
Exercise 9-12 a-b Sheridan Supply Co. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at December 31. Nov. 1 Dec. 11 16 31 Loaned $21,600 cash to Manny Lopez on a 12-month, 10% note. Sold goods to Ralph Kremer, Inc., receiving a $54,000, 90-day, 8% note. Received a $53,280, 180 day, 10% note in exchange for...
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