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recognition of an expense. .L03-3, L03-4. LO3-7, L03-8, In June, current year, Wendy Winger organized a...
I need answer for A through E... Thank you c. Three of September's transactions involve cash...
I need answer for A through E...
Thank you
c. Three of September's transactions involve cash payments, yet only one of these transactions is recorded as an expense. Describe three situations in which a cash payment would nor involve recognition of an expense. In June, current year. Wendy Winger organized a corporation to provide aerial photography ser- vices. The company, called Aerial Views, began operations immediately. Transactions during the month of June were as follows. LO3-1. LO3-2. LO3-3, L03-4 LO3-5,...
Problem 3-3B Record adjusting entries (LO3-3) The information necessary for preparing the 2021 year-end adjusting entries...
Problem 3-3B Record adjusting entries (LO3-3) The information necessary for preparing the 2021 year-end adjusting entries for Bearcat Personal Training Academy appears below. Bearcat's fiscal year-end is December 31. 1. Depreciation on the equipment for the year is $5,300. 2. Salaries earned (but not paid) from December 16 through December 31, 2021, are $2,300. 3. On March 1, 2021, Bearcat lends an employee $11,500. The employee signs a note requiring principal and interest at 12% to be paid on February...
1-9 Exercise 3-5 Journal Entries and T-accounts (L03-1, LO3-2] The Polaris Company uses a job-order costing...
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Exercise 3-5 Journal Entries and T-accounts (L03-1, LO3-2] The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $189,000 ($151,200 direct materials and $37,800 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $20,000. d. Depreciation recorded on factory equipment, $104,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost...
1 2 3 4 5 The Mazzanti Wholesale Food Company's fiscal year-end is June 30. The...
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The Mazzanti Wholesale Food Company's fiscal year-end is June 30. The company issues quarterly financial statements requiring the company to prepare adjusting entries at the end of each quarter. Assume all quarterly adjusting entries were properly recorded. 1. On December 1, 2017, the company paid its annual fire insurance premium of $3,200 for the year beginning December 1 and debited prepaid insurance, 2. On August 31, 2017, the company borrowed $50,000 from a local bank....
4 Problem 7-10 Miscellaneous receivable transactions [LO7-3,7-4, 7-7, 7-8] Evergreen Company sells lawn and garden products...
4 Problem 7-10 Miscellaneous receivable transactions [LO7-3,7-4, 7-7, 7-8] Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end is December 31. During 2018, the following transactions related to recelvables occurred Feb. 28 Sold merchandise to Lennox, Inc. for $30,000 and accepted a 8%, 7-month note Mar 31 Sold merchandise to Maddox Co. and accepted a noninterest-bearing note with a Apr. 3 Sold merchandise to Carr Co. for $20,000 with terms 2/10, n/30. Evergreen uses 4 points...
I need answer for A through E...
Thank you
c. Three of September's transactions involve cash payments, yet only one of these transactions is recorded as an expense. Describe three situations in which a cash payment would nor involve recognition of an expense. In June, current year. Wendy Winger organized a corporation to provide aerial photography ser- vices. The company, called Aerial Views, began operations immediately. Transactions during the month of June were as follows. LO3-1. LO3-2. LO3-3, L03-4 LO3-5,...
Problem 3-3B Record adjusting entries (LO3-3) The information necessary for preparing the 2021 year-end adjusting entries for Bearcat Personal Training Academy appears below. Bearcat's fiscal year-end is December 31. 1. Depreciation on the equipment for the year is $5,300. 2. Salaries earned (but not paid) from December 16 through December 31, 2021, are $2,300. 3. On March 1, 2021, Bearcat lends an employee $11,500. The employee signs a note requiring principal and interest at 12% to be paid on February...
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Exercise 3-5 Journal Entries and T-accounts (L03-1, LO3-2] The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $189,000 ($151,200 direct materials and $37,800 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $20,000. d. Depreciation recorded on factory equipment, $104,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost...
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The Mazzanti Wholesale Food Company's fiscal year-end is June 30. The company issues quarterly financial statements requiring the company to prepare adjusting entries at the end of each quarter. Assume all quarterly adjusting entries were properly recorded. 1. On December 1, 2017, the company paid its annual fire insurance premium of $3,200 for the year beginning December 1 and debited prepaid insurance, 2. On August 31, 2017, the company borrowed $50,000 from a local bank....
4 Problem 7-10 Miscellaneous receivable transactions [LO7-3,7-4, 7-7, 7-8] Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end is December 31. During 2018, the following transactions related to recelvables occurred Feb. 28 Sold merchandise to Lennox, Inc. for $30,000 and accepted a 8%, 7-month note Mar 31 Sold merchandise to Maddox Co. and accepted a noninterest-bearing note with a Apr. 3 Sold merchandise to Carr Co. for $20,000 with terms 2/10, n/30. Evergreen uses 4 points...
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