Homework Answers
Solution:
| Accounts | Debit | Credit | |
| a. | K. Kolmer, Capital ($33800*50%) | 16,900 | |
| Don Jernigan, Capital | 16,900 | ||
| b. | C. Eidman, Capital ($21000*50%) | 10,500 | |
| Don Jernigan, Capital | 10,500 | ||
| c. | C. Ryno, Capital ($16200*33 1/3%) | 5400 | |
| Don Jernigan, Capital | 5400 |
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CALCULATOR PRINTER VERSION BACK K. Kolmer, C. Eidman, and C. Ryno share income on a 5:3:2...
K. Kolmer, C. Eidman, and C. Ryno share income on a 5:3:2 basis. They have capital...
K. Kolmer, C. Eidman, and C. Ryno share income on a 5:3:2 basis. They have capital balances of $28,200, $24,200, and $19,500, respectively, when Don Jernigan is admitted to the partnership. Prepare the journal entry to record the admission of Don Jernigan under each of the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) a. Purchase of 50% of Kolmer’s equity for $19,500. b. Purchase of 50% of Eidman’s equity for $6,600....
Need the transactions journalized gnment CALCULATOR PRINTER VERSION BACK NEXT Exercise 2-03 Selected transactions for M....
Need the transactions journalized
gnment CALCULATOR PRINTER VERSION BACK NEXT Exercise 2-03 Selected transactions for M. Acosta, an Interior decorator, in her first month of business, are as follows. Jan. 2 Invested $10,000 cash in business. 3 Purchased used car for $3,000 cash for use in business. 9 Purchased supplies on account for $600. 11 Billed customers $2,400 for services performed 16 Paid $350 cash for advertising 20 Received $900 cash from customers billed on January 11. 23 Paid creditor...
Exercise 12-12 a-b (Part Level Submission) S. Pagan and T. Tabor share income on a 6:4...
Exercise 12-12 a-b (Part Level Submission) S. Pagan and T. Tabor share income on a 6:4 basis. They have capital balances of $100,000 and $50,000, respectively, when W. Wolford is admitted to the partnership. Prepare the journal entry to record the admission of W. Wolford under each of the following assumptions. v (a) Investment of $85,000 cash for a 30% ownership interest with bonuses to the existing partners. (Credit account titles are automatically indented when amount is entered. Do not...
PRINTER VERSION 4 BACK Exercise 12-10 (Part Level Submission) Prior to the distribution of cash to...
PRINTER VERSION 4 BACK Exercise 12-10 (Part Level Submission) Prior to the distribution of cash to the partners, the accounts in the VUP Company are: Cash $31,600; Vogel, Capital (CE) $18.400; Utech, Capital (C:) $16,400; and Pena, Capital (Dr.) $3,200. The income ratios are 5:3:2, respectively. VUP Company decides to liquidate the company, (a) Prepare the entry to record (1) Pena's payment of $3,200 in cash to the partnership and (2) the distribution of cash to the partners with credit...
CALCULATOR PRINTER VERSION BACK NEXT This information relates to Teal Mountain Co. 1. 2. 3. 4....
CALCULATOR PRINTER VERSION BACK NEXT This information relates to Teal Mountain Co. 1. 2. 3. 4. 5. On April 5, purchased merchandise from Sandhill Company for $25,100, terms 2/10, 1/30. On April 6, paid freight costs of $640 on merchandise purchased from Sandhill. On April 7, purchased equipment on account for $32,900. On April 8, returned $4,800 of April 5 merchandise to Sandhill Company. On April 15, paid the amount due to Sandhill Company in full. (a) Prepare the journal...
ssignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEX CES it 2. 3....
ssignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEX CES it 2. 3. Exercise 4-10 Wildhorse Co., opened an incorporated dental practice on January 1, 2017. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $740 of such services was completed but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $850. Purchased dental...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 10-15 a-b (Part Level Submission) Sunland Company issued...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 10-15 a-b (Part Level Submission) Sunland Company issued $470,000, 15-year, 8% bonds at 96. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Click if you would like to Show Work for this question: Open Show Work
CALCULATOR STANDARD VIEW PRINTER VERSION BACK NEXT Exercise 8-13 (Part Level Submission) On May 2, McLain...
CALCULATOR STANDARD VIEW PRINTER VERSION BACK NEXT Exercise 8-13 (Part Level Submission) On May 2, McLain Company lends $29,200 to Chang, Inc., issuing a 6-month, 6% note. At the maturity date, November 2, Chang indicates that it cannot pay. (a) Your answer is correct. Prepare the entry to record the issuance of the note. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit May 2 Notes Receivable |...
Study Practice Assignment Gradebook ORION Downloadable eTextbook en Assignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT...
Study Practice Assignment Gradebook ORION Downloadable eTextbook en Assignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 10-10 Wildhorse Co. issued 4,000, 8%, 5-year, $1,000 bonds dated January 1, 2019, at 100. Interest is paid each January 1. 10-6 Prepare the journal entry to record the sale of these bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. De not inden manually.) Date Account this and tuplanation Debit Credit 10-14 its by SHOW...
Exercise 12-12 S. Pagan and T. Tabor share income on a 7: 3 basis. They have...
Exercise 12-12 S. Pagan and T. Tabor share income on a 7: 3 basis. They have capital balances of $120,000 and $70,000, respectively, when W. Wolford is admitted to the partnership. Prepare the journal entry to record the admission of W. Wolford under each of the following assumptions. Investment of $99,000 cash for a 30% ownership interest with bonuses to the existing partners. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and...
Need the transactions journalized
gnment CALCULATOR PRINTER VERSION BACK NEXT Exercise 2-03 Selected transactions for M. Acosta, an Interior decorator, in her first month of business, are as follows. Jan. 2 Invested $10,000 cash in business. 3 Purchased used car for $3,000 cash for use in business. 9 Purchased supplies on account for $600. 11 Billed customers $2,400 for services performed 16 Paid $350 cash for advertising 20 Received $900 cash from customers billed on January 11. 23 Paid creditor...
Exercise 12-12 a-b (Part Level Submission) S. Pagan and T. Tabor share income on a 6:4 basis. They have capital balances of $100,000 and $50,000, respectively, when W. Wolford is admitted to the partnership. Prepare the journal entry to record the admission of W. Wolford under each of the following assumptions. v (a) Investment of $85,000 cash for a 30% ownership interest with bonuses to the existing partners. (Credit account titles are automatically indented when amount is entered. Do not...
PRINTER VERSION 4 BACK Exercise 12-10 (Part Level Submission) Prior to the distribution of cash to the partners, the accounts in the VUP Company are: Cash $31,600; Vogel, Capital (CE) $18.400; Utech, Capital (C:) $16,400; and Pena, Capital (Dr.) $3,200. The income ratios are 5:3:2, respectively. VUP Company decides to liquidate the company, (a) Prepare the entry to record (1) Pena's payment of $3,200 in cash to the partnership and (2) the distribution of cash to the partners with credit...
CALCULATOR PRINTER VERSION BACK NEXT This information relates to Teal Mountain Co. 1. 2. 3. 4. 5. On April 5, purchased merchandise from Sandhill Company for $25,100, terms 2/10, 1/30. On April 6, paid freight costs of $640 on merchandise purchased from Sandhill. On April 7, purchased equipment on account for $32,900. On April 8, returned $4,800 of April 5 merchandise to Sandhill Company. On April 15, paid the amount due to Sandhill Company in full. (a) Prepare the journal...
ssignment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEX CES it 2. 3. Exercise 4-10 Wildhorse Co., opened an incorporated dental practice on January 1, 2017. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $740 of such services was completed but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $850. Purchased dental...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 10-15 a-b (Part Level Submission) Sunland Company issued $470,000, 15-year, 8% bonds at 96. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Click if you would like to Show Work for this question: Open Show Work
CALCULATOR STANDARD VIEW PRINTER VERSION BACK NEXT Exercise 8-13 (Part Level Submission) On May 2, McLain Company lends $29,200 to Chang, Inc., issuing a 6-month, 6% note. At the maturity date, November 2, Chang indicates that it cannot pay. (a) Your answer is correct. Prepare the entry to record the issuance of the note. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit May 2 Notes Receivable |...
Study Practice Assignment Gradebook ORION Downloadable eTextbook en Assignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 10-10 Wildhorse Co. issued 4,000, 8%, 5-year, $1,000 bonds dated January 1, 2019, at 100. Interest is paid each January 1. 10-6 Prepare the journal entry to record the sale of these bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. De not inden manually.) Date Account this and tuplanation Debit Credit 10-14 its by SHOW...
Exercise 12-12 S. Pagan and T. Tabor share income on a 7: 3 basis. They have capital balances of $120,000 and $70,000, respectively, when W. Wolford is admitted to the partnership. Prepare the journal entry to record the admission of W. Wolford under each of the following assumptions. Investment of $99,000 cash for a 30% ownership interest with bonuses to the existing partners. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and...
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