Homework Answers
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As per the HomeworkLib policy, only the first question should be answered. Kindly take note of it.
|
Account |
Type of account |
Increase side |
|
|
1 |
Supplies |
A |
Dr. |
|
2 |
Notes receivable |
A |
Dr. |
|
3 |
Fees earned |
R |
Cr. |
|
4 |
Dividends |
C |
Dr. |
|
5 |
Accounts payable |
L |
Cr. |
|
6 |
Salaries expense |
E |
Dr. |
|
7 |
Capital stock |
C |
Cr. |
|
8 |
Accounts receivable |
A |
Dr. |
|
9 |
Equipment |
A |
Dr. |
|
10 |
Notes payable |
L |
Cr. |
Assets, expenses and dividends have debit balance
Capital stock, liabilities and revenues have credit balance
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please answer both questions
Problem 1. Selected accounts from the ledger of Hughes Company appear below....
please answer question 2 Problem Selected accounts from the ledger of Hughes Company appear below. For...
please answer question 2
Problem Selected accounts from the ledger of Hughes Company appear below. For each account, indicate the following: 1. In the first column at the right, indicate the nature of each account, using the following abbreviations: (a) Revenue R Asset A Liability - L Capital/Equity- C Expense - E In the second column, indicate the increase side of each account by inserting Dr. or (b) Cг. Туре оf Account Increase Side Account Supplies Notes Receivable Fees Earned...
Payroll Accounts and Year-End Entries The following accounts, with the balances indicated, appear in the ledger...
Payroll Accounts and Year-End Entries The following accounts, with the balances indicated, appear in the ledger of Codigo Co. on December 1 of the current year: 101 Salaries Payable 102 Social Security Tax Payable $2,913 103 Medicare Tax Payable 728 104 Employees Federal Income Tax Payable 4,490 105 Employees State Income Tax Payable 4,078 106 State Unemployment Tax Payable 1,260 107 Federal Unemployment Tax Payable 360 108 U.S. Saving Bond Deductions Payable 2,300 109 Medical Insurance Payable 2,520 201 Sales...
This is due in a week. Please help! Chapter Review 10-7i Comprehensive Problem 3 Selected transactions...
This is due in a week. Please help!
Chapter Review 10-7i Comprehensive Problem 3 Selected transactions completed by Komett Company during its first fiscal year ended December 31, 20Y5, were as follows GENERAL LEDEER Jan ssued a check to establish a petty cash fund of $4,500 3. Feb. 26. Replenished the petty cash fund, based on the tollowing summary of petty cash receipts: ofice supplies, 31,680: miscellaneous selling expense,$570; miscelaneouS administrative expense, $880. Apr. Purchased $31,300 of merchandise on accounıt,...
prehensive Problem 3 Comprehensi 5. Total assets, $3,569,300 GENERAL LEDGER Selected transactions completed by December 31,...
prehensive Problem 3 Comprehensi 5. Total assets, $3,569,300 GENERAL LEDGER Selected transactions completed by December 31, 2014, were as follows: ns completed by Kornett Company during its first fiscal year ended December 31, 2014 Jan. 3. Issued a check to establish a petty cash fund of $4,500. Feb. 26. Replenished the petty cash fund, based on the following summary of petty cash receipts: office supplies, $1,680; miscellaneous selling expense, $570; misc neous administrative expense, $880. Apr. 14. Purchased $31,300 of...
The following information about the payroll for the week ended December 30 was obtained from the...
The following information about the payroll for the week ended December 30 was obtained from the records of Pharrell Co.: Salaries: Sales salaries $325,000 Warehouse salaries 200,000 Office salaries 142,000 Total $667,000 Deductions: Income tax withheld $116,600 Social security tax withheld 40,020 Medicare tax withheld 10,005 Retirement savings 14,674 Group insurance 12,006 total $193,305 Tax rates assumed: Social security 6% Medicare 1.5% State unemployment (employer only) 5.4% Federal unemployment (employer only) 0.6% Required: 1. Assuming that the payroll for the...
The following information about the payroll for the week ended December 30 was obtained from the...
The following information about the payroll for the week ended December 30 was obtained from the records of Pharrell Co.: Salaries: Sales salaries $335,000 Warehouse salaries 186,000 Office salaries 144,000 $665,000 Deductions: Income tax withheld $116,800 Social security tax withheld 39,900 Medicare tax withheld 9,975 Retirement savings 14,630 Group insurance 11,970 $193,275 Tax rates assumed: Social security 6% Medicare 1.5% State unemployment (employer only) 5.4% Federal unemployment (employer only) 0.6% Required: 1. Assuming that the payroll for the last week...
Here is the whole question, someone please help im stuck Entries for Payroll and Payroll Taxes...
Here is the whole question, someone please help im stuck
Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Deductions Salsslaries Warehouse salaries Office salaries $249,000 137,000 127,000 Income tax withheld Social security tax withheld Medicare tax withheld $90,288 30,780 7,695 11,286 9,234 $149,283 $513,000 Retirement savings Group insurance Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4%...
Payroll entries Instructions Chart of Accounts Journal Instructions The payroll register for Gamble Company for the...
Payroll entries Instructions Chart of Accounts Journal Instructions The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries $1,560,000 Social security tax withheld 93,600 Medicare tax withheld 23,400 312,000 Federal income tax withheld In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.6%, respectively, on $254,000 of salaries. Required: A. Journalize the entry to record the payroll for the week of April 29.* B. Journalize the entry to...
Need help....Please read the information very carefully!!!!! The following information about the payroll for the week...
Need help....Please read the information very
carefully!!!!!
The following information about the payroll for the week anded December 20 was obtained from the records Co: ember 30 was obtained from the records of Boltz Salaries: Deductions: Sales salaries S335,000 Income tax withheld $116,800 Warehouse salaries 186,000 U.S. savings bonds 14,630 Office salaries 144,000 Group insurance 11,970 $665,000 Tax rates assumed: Social security 6% State unemployment (employer only) 5.4% Medicare 1.5% Federal unemployment employer only) 0.8% Required: 1. Assuming that the...
Problem 10-1A On January 1, 2017, the ledger of Ivanhoe Company contained these liability accounts. Accounts...
Problem 10-1A On January 1, 2017, the ledger of Ivanhoe Company contained these liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $42,900 6,800 19,400 During January, the following selected transactions occurred. Jan. 1 5 12 14 20 Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note. Sold merchandise for cash totaling $7,420, which includes 6% sales taxes. Performed services for customers who had made advance payments of $10,200. (Credit Service Revenue.) Paid state treasurer's...
please answer question 2
Problem Selected accounts from the ledger of Hughes Company appear below. For each account, indicate the following: 1. In the first column at the right, indicate the nature of each account, using the following abbreviations: (a) Revenue R Asset A Liability - L Capital/Equity- C Expense - E In the second column, indicate the increase side of each account by inserting Dr. or (b) Cг. Туре оf Account Increase Side Account Supplies Notes Receivable Fees Earned...
Payroll Accounts and Year-End Entries The following accounts, with the balances indicated, appear in the ledger of Codigo Co. on December 1 of the current year: 101 Salaries Payable 102 Social Security Tax Payable $2,913 103 Medicare Tax Payable 728 104 Employees Federal Income Tax Payable 4,490 105 Employees State Income Tax Payable 4,078 106 State Unemployment Tax Payable 1,260 107 Federal Unemployment Tax Payable 360 108 U.S. Saving Bond Deductions Payable 2,300 109 Medical Insurance Payable 2,520 201 Sales...
This is due in a week. Please help!
Chapter Review 10-7i Comprehensive Problem 3 Selected transactions completed by Komett Company during its first fiscal year ended December 31, 20Y5, were as follows GENERAL LEDEER Jan ssued a check to establish a petty cash fund of $4,500 3. Feb. 26. Replenished the petty cash fund, based on the tollowing summary of petty cash receipts: ofice supplies, 31,680: miscellaneous selling expense,$570; miscelaneouS administrative expense, $880. Apr. Purchased $31,300 of merchandise on accounıt,...
prehensive Problem 3 Comprehensi 5. Total assets, $3,569,300 GENERAL LEDGER Selected transactions completed by December 31, 2014, were as follows: ns completed by Kornett Company during its first fiscal year ended December 31, 2014 Jan. 3. Issued a check to establish a petty cash fund of $4,500. Feb. 26. Replenished the petty cash fund, based on the following summary of petty cash receipts: office supplies, $1,680; miscellaneous selling expense, $570; misc neous administrative expense, $880. Apr. 14. Purchased $31,300 of...
Here is the whole question, someone please help im stuck
Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Deductions Salsslaries Warehouse salaries Office salaries $249,000 137,000 127,000 Income tax withheld Social security tax withheld Medicare tax withheld $90,288 30,780 7,695 11,286 9,234 $149,283 $513,000 Retirement savings Group insurance Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4%...
Payroll entries Instructions Chart of Accounts Journal Instructions The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries $1,560,000 Social security tax withheld 93,600 Medicare tax withheld 23,400 312,000 Federal income tax withheld In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.6%, respectively, on $254,000 of salaries. Required: A. Journalize the entry to record the payroll for the week of April 29.* B. Journalize the entry to...
Need help....Please read the information very
carefully!!!!!
The following information about the payroll for the week anded December 20 was obtained from the records Co: ember 30 was obtained from the records of Boltz Salaries: Deductions: Sales salaries S335,000 Income tax withheld $116,800 Warehouse salaries 186,000 U.S. savings bonds 14,630 Office salaries 144,000 Group insurance 11,970 $665,000 Tax rates assumed: Social security 6% State unemployment (employer only) 5.4% Medicare 1.5% Federal unemployment employer only) 0.8% Required: 1. Assuming that the...
Problem 10-1A On January 1, 2017, the ledger of Ivanhoe Company contained these liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $42,900 6,800 19,400 During January, the following selected transactions occurred. Jan. 1 5 12 14 20 Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note. Sold merchandise for cash totaling $7,420, which includes 6% sales taxes. Performed services for customers who had made advance payments of $10,200. (Credit Service Revenue.) Paid state treasurer's...
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