April 1 Invested $18,000 cash in her business etheerder n »:9e preblem If no entry mand,...
Question 2 On April 16, Cullumber Company made sales of $18,000 to customers using credit cards for payment. The credit card company charges Cullumber a service fee of 2.9% for credit card transactions. Prepare the entry to record the credit card sales. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal...
1 On April 5,purchased merchandlse from Sunland Company for $26,400, terms 4/10, n/30 2 On April 6, pald freight costs of $590 on merchandlse purchased from Sunland. 3 On April 7,purchased equipment on account for $33,900 On April 8,returned $5,200 of April 5 merchandise to Sunland Company. 4. On April 15, paid the amount due to Sunland Company in fll 5. (a) Prepare the joumal entries to record the transactions listed above on Splish Brothers Co.'s books. Splish Brothers Co.uses...
1. 2. 3. Beginning of the year Accounts Receivable balance was $18,000 Net sales (all on account) for the year were $101,600. Teal does not offer cash discounts Collections on accounts receivable during the year were $81,100 (a) Prepare (summary) journal entries to record the items noted above. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually)...
Halladay Enterprises had the following selected
transactions.
1.
Bo Halladay invested $4,560 cash in the business.
2.
Paid office rent of $1,083.
3.
Performed consulting services and billed a client $5,928.
4.
Bo Halladay withdrew $855 cash for personal use.
Indicate the effect each transaction has on the accounting
equation, using plus and minus signs.
Journalize each transaction. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No Entry"...
Question 4
Shamrock Industries Limited purchased a strip mine for cash on
April 1, 2020 at a cost of $5,306,000. Shamrock expects to operate
the mine for 10 years, at which it is legally required to restore
the surrounding area to its original state. It is estimated that it
will cost $461,000 to do this at the end of the mine’s useful life.
The company’s year-end is December 31, and Shamrock follows
ASPE.
Prepare the journal entry to record the...
Brief Exercise 116 On April 1, 2018, West Company purchased $397,000 of 6.75% bonds for $412,630 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2023. Your answer is partially correct. Try again. Prepare the journal entry on April 1, 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account...
Journalize the transactions
Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested $18,000 cash in her business. 1 Hired a secretary-receptionist at a salary of $600 per week payable monthly. 2 Paid office rent for the month $1,200. 3 Purchased dental supplies on account from Dazzle Company $3,300. 10 Performed dental services and billed insurance companies $5,200. 11 Received $1,400 cash advance from Leah...
This information relates to Splish Brothers Co. 1. On April 5, purchased merchandise from Sunland Company for $28,200, terms 4/10, n/30. 2. On April 6, paid freight costs of $710 on merchandise purchased from Sunland. 3. On April 7, purchased equipment on account for $32,100. 4. On April 8, returned $4,800 of April 5 merchandise to Sunland Company. 5. On April 15, paid the amount due to Sunland Company in full. (a) Prepare the journal entries to record the transactions...
This information relates to Metlock Co. 1. 2. 3. 4. 5. On April 5, purchased merchandise from Ivanhoe Company for $26,200, terms 3/10, n/30. On April 6, paid freight costs of $540 on merchandise purchased from Ivanhoe. On April 7, purchased equipment on account for $30,500. On April 8, returned $3,900 of April 5 merchandise to Ivanhoe Company. On April 15, paid the amount due to Ivanhoe Company in full. (a) Prepare the journal entries to record the transactions listed...
Question 1 Ayayai Corporation obtained a franchise from Kingbird Inc. for a cash payment of $144,000 on April 1, 2020. The franchise grants Ayayai the right to sell certain products and services for a period of 12 years. Prepare Ayayai's April 1 journal entry and December 31 adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No...