Homework Answers
Answer-
| Date | Description | Debit | Credit |
| Dec 1, 2015 | Warranty expense (20000*6%) | $ 1,200 | |
| Warranty liability | $ 1,200 | ||
| (to record warranty expenses) | |||
| Jan 9, 2016 | Warranty liability | $ 200 | |
| Spare parts Inventory | $ 200 | ||
| (to record costs of warranty repairs) |
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any covering parts OTAWA Ex On Dec 1, 2015 a s a car for $20.000 with...
Exercise 18-39 On January 1, 2020, Lesley Benjamin signed an agreement, covering 5 years, to operate...
Exercise 18-39
On January 1, 2020, Lesley Benjamin signed an agreement,
covering 5 years, to operate as a franchisee of Bonita Inc. for an
initial franchise fee of $51,000. The amount of $11,000 was paid
when the agreement was signed, and the balance is payable in five
annual payments of $8,000 each, beginning January 1, 2021. The
agreement provides that the down payment is nonrefundable and that
no future services are required of the franchisor once the
franchise commences operations...
On January 1, 2020, Lesley Benjamin signed an agreement, covering 5 years, to operate as a...
On January 1, 2020, Lesley Benjamin signed an agreement, covering 5 years, to operate as a franchisee of Pearl Inc. for an initial franchise fee of $36,000. The amount of $11,000 was paid when the agreement was signed, and the balance is payable in five annual payments of $5,000 each, beginning January 1, 2021. The agreement provides that the down payment is nonrefundable and that no future services are required of the franchisor once the franchise commences operations on April...
On January 1, 2017, Lesley Benjamin signed an agreement, covering 5 years, to operate as a...
On January 1, 2017, Lesley Benjamin signed an agreement,
covering 5 years, to operate as a franchisee of Coronado Inc. for
an initial franchise fee of $64,000. The amount of $13,000 was paid
when the agreement was signed, and the balance is payable in five
annual payments of $10,200 each, beginning January 1, 2018. The
agreement provides that the down payment is nonrefundable and that
no future services are required of the franchisor once the
franchise commences operations on April...
Required: Adjusting Entries on Dec. 31, 2015 and aging schedule with the following column headings. A....
Required:
Adjusting Entries on Dec. 31, 2015 and aging schedule with the
following column headings.
A. B. REYES of As part of the program of verification, you reviewed the count with A Reset manager. The credit manager opined that all the accounts are collectible except the act S.T. Manzano which is out of collection. It was decided to make the wo r d accounts 10% of the outstanding receivables on December 31, 2015. The company discount on collections following the...
l Presented below are selected transactions at Ridge Company for 2015. Jan. 1 Retired a piece...
l Presented below are selected transactions at Ridge Company for 2015. Jan. 1 Retired a piece of machinery that was purchased on January 1. 2005. The machine cost $62.490 on that date. it had a useful life of 10 years with no savage value. June 30 Sold a computer that was purchasad on January 1, 2012. The computer cost $35,010. It had a usaful life of 3 years with no salvage value. The computer was sold for $14,000 Dec. 31...
Chapter 11 eBook Car Payroll Accounts and Year-End Entries 1. EX 11.11 BLANKSHEETALGO 2. EX 11.01....
Chapter 11 eBook Car Payroll Accounts and Year-End Entries 1. EX 11.11 BLANKSHEETALGO 2. EX 11.01. ALGO 3. PR 11.05 ALGO 4. PE 11.04. BLANKSHEETALGO. 5. PR.1104. ALGO 6. EX 11 21 The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December of the current year: Salaries Payable 212 Social Security Tax Payable $18,012 213 Medicare Tex Payable 4,740 214 Employees Federal Income Tax Payable 20,230 215 Employees State Income Tax Payable 20.00 216...
Rhoades Tax Services began business on December 1, 2015. Its December transactions are as follows. Dec....
Rhoades Tax Services began business on December 1, 2015. Its December transactions are as follows. Dec. Rhoades invested $20,000 in the business in exchange for common stock. 2 Paid $1,200 cash for December rent to Bomba Realty. 2 Purchased $1,080 of supplies on account. 3 Purchased $9,500 of office equipment; paying $4,700 cash with the balance due in 30 days. 8 Paid $1,080 cash on account for supplies purchased December 2 14 Paid $900 cash for assistant's wages for 2...
Exercise 18-39
On January 1, 2020, Lesley Benjamin signed an agreement,
covering 5 years, to operate as a franchisee of Bonita Inc. for an
initial franchise fee of $51,000. The amount of $11,000 was paid
when the agreement was signed, and the balance is payable in five
annual payments of $8,000 each, beginning January 1, 2021. The
agreement provides that the down payment is nonrefundable and that
no future services are required of the franchisor once the
franchise commences operations...
On January 1, 2020, Lesley Benjamin signed an agreement, covering 5 years, to operate as a franchisee of Pearl Inc. for an initial franchise fee of $36,000. The amount of $11,000 was paid when the agreement was signed, and the balance is payable in five annual payments of $5,000 each, beginning January 1, 2021. The agreement provides that the down payment is nonrefundable and that no future services are required of the franchisor once the franchise commences operations on April...
On January 1, 2017, Lesley Benjamin signed an agreement,
covering 5 years, to operate as a franchisee of Coronado Inc. for
an initial franchise fee of $64,000. The amount of $13,000 was paid
when the agreement was signed, and the balance is payable in five
annual payments of $10,200 each, beginning January 1, 2018. The
agreement provides that the down payment is nonrefundable and that
no future services are required of the franchisor once the
franchise commences operations on April...
Required:
Adjusting Entries on Dec. 31, 2015 and aging schedule with the
following column headings.
A. B. REYES of As part of the program of verification, you reviewed the count with A Reset manager. The credit manager opined that all the accounts are collectible except the act S.T. Manzano which is out of collection. It was decided to make the wo r d accounts 10% of the outstanding receivables on December 31, 2015. The company discount on collections following the...
l Presented below are selected transactions at Ridge Company for 2015. Jan. 1 Retired a piece of machinery that was purchased on January 1. 2005. The machine cost $62.490 on that date. it had a useful life of 10 years with no savage value. June 30 Sold a computer that was purchasad on January 1, 2012. The computer cost $35,010. It had a usaful life of 3 years with no salvage value. The computer was sold for $14,000 Dec. 31...
Chapter 11 eBook Car Payroll Accounts and Year-End Entries 1. EX 11.11 BLANKSHEETALGO 2. EX 11.01. ALGO 3. PR 11.05 ALGO 4. PE 11.04. BLANKSHEETALGO. 5. PR.1104. ALGO 6. EX 11 21 The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December of the current year: Salaries Payable 212 Social Security Tax Payable $18,012 213 Medicare Tex Payable 4,740 214 Employees Federal Income Tax Payable 20,230 215 Employees State Income Tax Payable 20.00 216...
Rhoades Tax Services began business on December 1, 2015. Its December transactions are as follows. Dec. Rhoades invested $20,000 in the business in exchange for common stock. 2 Paid $1,200 cash for December rent to Bomba Realty. 2 Purchased $1,080 of supplies on account. 3 Purchased $9,500 of office equipment; paying $4,700 cash with the balance due in 30 days. 8 Paid $1,080 cash on account for supplies purchased December 2 14 Paid $900 cash for assistant's wages for 2...
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