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 |
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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....