Notes payable |
|||||
Date |
Particulars |
Amount (in $) |
Date |
Particulars |
Amount (in $) |
Apr-01 |
Cash |
26,400 |
Feb-01 |
Accounts payable |
26,400 |
Oct-01 |
Cash |
60,000 |
Jul-01 |
Equipment |
60,000 |
Dec-31 |
Balance c/d |
31,200 |
Dec-01 |
Cash |
31,200 |
Total |
117,600 |
Total |
117,600 |
Interest payable |
|||||
Date |
Particulars |
Amount (in $) |
Date |
Particulars |
Amount (in $) |
Apr-01 |
Cash |
4,752 |
Mar-31 |
Interest expense |
4,752 |
Oct-01 |
Cash |
18,000 |
Sep-30 |
Interest expense |
18,000 |
Dec-31 |
Balance c/d |
2,496 |
Dec-31 |
Interest expense |
2,496 |
Total |
25,248 |
Total |
25,248 |
Interest expense |
|||||
Date |
Particulars |
Amount (in $) |
Date |
Particulars |
Amount (in $) |
Mar-31 |
Interest payable |
4,752 |
Dec-31 |
Income summary |
25,248 |
Sep-30 |
Interest payable |
18,000 |
|||
Dec-31 |
Interest payable |
2,496 |
|||
Total |
25,248 |
Total |
25,248 |
I dont know how to write in the dates where I drew the arrows for the...
Problem 10-2A The following are selected transactions of Monty Corp.. Monty prepares financial statements quarterly. Jan. 2 Purchased merchandise on account from Nunez Company, $18,000, terms 2/10, n/30. (Monty uses the perpetual inventory system.) Feb. 1 Issued a 9%, 2-month, $18,000 note to Nunez in payment of account. Mar. 31 Accrued interest for 2 months on Nunez note. Apr. 1 Paid face value and interest on Nunez note. July 1 Purchased equipment from Marson Equipment paying $11,000 in cash and...
Problem 11-02A a-d The following are selected transactions of Swifty Company, Swilly prepares financial statements quarterly Jan. 2 Purchased merchandise on account from Nunez Company, $32,000, terms 3/10, n/30. (Swifty uses the perpetual inventory system.) Feb. 1 Issued a 9%, 2-month, $32,000 note to Nunez in payment of account. Mar 31 Accrued interest for 2 months on Nunez note Apr. 1 Puld face value and interest on Nunez note. Purchased equipment from Marson Equipment paying $12,000 in cash and signing...
mote balance P11-24 The following are selected transactions of Blanco Company. Blanco prepares financial statements quarterly. Jan. 2 Purchased merchandise on account from Nunez Company, $30,000, terms 2/10, n/30. (Blanco uses the perpetual inventory system.) Feb. 1 Issued a 9%, 2-month, $30,000 note to Nunez in payment of account. Mar 31 Accrued interest for 2 months on Nunez note. Apr 1 Paid face value and interest on Nunez note. July 1 Purchased equipment from Marson Equipment paying $11,000 in cash...
CALCULATOR FULL SCREEN Problem 10-2A The following are selected transactions of Pina Colada Corp.. Pina Colada prepares financial statements quarterly Jan. 2 Purchased merchandise on account from Nunez Company, $34,800, terms 3/10, n/30. (Pina Colada uses the perpetual inventory system.) Feb. 1 Issued a 9%, 2-month, $34,800 note to Nunez in payment of account. Mar. 31 Accrued interest for 2 months on Nunez note. Apr. 1 Paid face value and interest on Nunez note. July 1 Purchased equipment from Marson...
On August 1, 2018, the beginning of its current fiscal year, the
following opening account balances, listed in alphabetical order,
were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were
completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
i
dont know how to get the opening balance for april 1st i tried
using the capital but its not working
We were unable to transcribe this imagePrepare a statement of changes in equity for the year ended March 31,1 Answer is not complete. $ 34,700 ADVENTURE ELEMENTS Statement of Changes in Equity For Year Ended March 31, 2020 Becky Brenner, capital, April 1 Add: Profit $ 14,270 Add: Investments by owner 15,000 Total Less: Withdrawals Becky Brenner, capital, March...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
At January 1, 2022, Carla Vista Co. reported the following
property, plant, and equipment accounts:
Accumulated depreciation—buildings
$62,000,000
Accumulated depreciation—equipment
52,400,000
Buildings
97,300,000
Equipment
150,400,000
Land
21,850,000
The company uses straight-line depreciation for buildings and
equipment, its year-end is December 31, and it makes adjusting
entries annually. The buildings are estimated to have a 40-year
useful life and no salvage value; the equipment is estimated to
have a 10-year useful life and no salvage value.
During 2022, the following selected...
Exercise 13-02
The following are selected 2020 transactions of Pina
Corporation.
Sept. 1
Purchased inventory from Encino Company on account for $56,000.
Pina records purchases gross and uses a periodic inventory
system.
Oct. 1
Issued a $56,000, 12-month, 8% note to Encino in payment of
account.
Oct. 1
Borrowed $56,000 from the Shore Bank by signing a 12-month,
zero-interest-bearing $61,040 note.
Prepare journal entries for the selected transactions above.
Prepare adjusting entries at December 31
Compute the total net liability...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....