Homework Answers
| No | Account | Debit | Credit | |
| 1 | Accounts receivable -Audrey | 3080 | ||
| Trade discount (3500*12%) | 420 | |||
| Service Revenue | 3500 | |||
| 2 | Accounts Receivable - Michael | 700 | ||
| Service Revenue | 700 |
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BE5-1 The Giles Agency offers a 12% trade discount when providing advertising services of $1,000 or...
The Giles Agency offers a 8% trade discount when providing advertising services of $1,000 or more...
The Giles Agency offers a 8% trade discount when providing advertising services of $1,000 or more to its customers, Audrey's Antiques decides to purchase advertising services of $2,400 (not including the trade discount), while Michael's Motors purchases only $590 of advertising. Both services are provided on account. Record both transactions for The Giles Agency, accounting for any trade discounts. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction...
For the next few weeks CJM Ad Agency is offering a 20% trade discount when providing...
For the next few weeks CJM Ad Agency is offering a 20% trade discount when providing advertising services of $50,000 or more to its customers to encourage customers to buy more advertising. The Agency also offers 2/15, n30 on all credit sales. All credit sales are invoiced at the end of the month. The Agency provided the following services this month; amounts are shown before trade discounts have been deducted: • • Designs a $30,000 ad campaign for Customer A-...
A company offers a 25% trade discount when providing services of $5,000 or more to its...
A company offers a 25% trade discount when providing services of $5,000 or more to its customers. 16 Record the transaction when the company provides services of $8,600 (not including the trade discount) on account. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 5 points View transaction ist 80200 Journal entry worksheet 1 Record the service revenue on account Note: Enter debits before credits Event General Journal Debit Credit...
Use the following to answer questions 1-5 For the next few weeks CUM Ad Agency is...
Use the following to answer questions 1-5 For the next few weeks CUM Ad Agency is offering a 20% trade discount when providing advertising services of $50,000 or more to its customers to encourage customers to buy more advertising. The Agency also offers 2/15, n30 on all credit sales. All credit sales are invoiced at the end of the month. The Agency provided the following services this month; amounts are shown before trade discounts have been deducted: • • Designs...
Excercise 3-11 and 3-13 Problem 3-12 Atkins Advertising Agency began busll during its first month of...
Excercise 3-11 and 3-13
Problem 3-12
Atkins Advertising Agency began busll during its first month of operations are as a. Acquired its articles of in a. Acquired is arickes of incorporation from the state and issued 100,000 sh 3 56Probleri 3 shares of capital in exchange for $200,000 in cash. b. an office building for $150,000 in cash. The building is valued at S e at the bank for $125,000. Purchased reeing to pay the remainde c. Signed a three-year...
The trial balance of Pacilio Security Services, Inc. as of January 1, Year 4, had the...
The trial balance of Pacilio Security Services, Inc. as of January 1, Year 4, had the following normal balances:Cash$12,500Accounts Receivable3,500Supplies120Prepaid Rent1,000Land4,000Unearned Revenue900Salaries Payable1,000Common Stock8,000Retained Earnings11,220In Year 4, Pacilio Security Services decided to expand its business to sell security systems and offer 24-hour alarm monitoring services. It plans to phase out its current service of providing security personnel at various events. The following summary transactions occurred during Year 4 :1. Paid the salaries payable from Year 3.2. Acquired an additional $...
The trial balance of Pacilio Security Services, Inc. as of January 1, Year 4, had the...
The trial balance of Pacilio Security Services, Inc. as of January 1, Year 4, had the following normal balances: Cash Accounts Receivable Supplies Prepaid Rent Land Unearned Revenue Salaries Payable Common Stock Retained Earnings $12,500 3,500 120 1,000 4,000 900 1,000 8,000 11,220 In Year 4, Pacilio Security Services decided to expand its business to sell security systems and offer 24-hour alarm monitoring services It plans to phase out its current service of providing security personnel at various events. The...
The trial balance of Pacilio Security Services, Inc. as of January 1, Year 4, had the...
The trial balance of Pacilio Security Services, Inc. as of January 1, Year 4, had the following normal balances: Cash Accounts Receivable Supplies Prepaid Rent Land Unearned Revenue Salaries Payable Common Stock Retained Earnings $12,500 3,500 120 1,000 4,000 900 1,000 8,000 11,220 In Year 4, Pacilio Security Services decided to expand its business to sell security systems and offer 24-hour alarm monitoring services It plans to phase out its current service of providing security personnel at various events. The...
1) Why study AIS? a) Simply doing accounting work i) A survey conducted by the Institute...
1) Why study AIS? a) Simply doing accounting work i) A survey conducted by the Institute of Management Accountants (IMA) indicates that work relating to accounting systems was the single most important activity performed by corporate accountants. b) Auditors must understand numbers before they audit and have confidence in the processes that produce the numbers c) Tax professionals must know that the processes produced numbers that are correct for tax planning and compliance. d) Consulting services are offered to implement...
I am having a hard time solving this problem from Chapter 5 in the Book of...
I
am having a hard time solving this problem from Chapter 5 in the
Book of Fundamental Accounting Principles edition 15 volume 1.
thank you
Required 1. Record and post the appropriate closing entries. 2. Prepare a post-closing trial balance. Chapter 5 Cumulative Comprehension Problem: Echo Systems Echo Systems-perpetual or periodic Note: Solutions are available for both perpetual and periodic. (The first three segments of this comprehensive problem were presented in Chapters 2, 3, and 4. If those segments have...
The Giles Agency offers a 8% trade discount when providing advertising services of $1,000 or more to its customers, Audrey's Antiques decides to purchase advertising services of $2,400 (not including the trade discount), while Michael's Motors purchases only $590 of advertising. Both services are provided on account. Record both transactions for The Giles Agency, accounting for any trade discounts. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction...
For the next few weeks CJM Ad Agency is offering a 20% trade discount when providing advertising services of $50,000 or more to its customers to encourage customers to buy more advertising. The Agency also offers 2/15, n30 on all credit sales. All credit sales are invoiced at the end of the month. The Agency provided the following services this month; amounts are shown before trade discounts have been deducted: • • Designs a $30,000 ad campaign for Customer A-...
A company offers a 25% trade discount when providing services of $5,000 or more to its customers. 16 Record the transaction when the company provides services of $8,600 (not including the trade discount) on account. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 5 points View transaction ist 80200 Journal entry worksheet 1 Record the service revenue on account Note: Enter debits before credits Event General Journal Debit Credit...
Use the following to answer questions 1-5 For the next few weeks CUM Ad Agency is offering a 20% trade discount when providing advertising services of $50,000 or more to its customers to encourage customers to buy more advertising. The Agency also offers 2/15, n30 on all credit sales. All credit sales are invoiced at the end of the month. The Agency provided the following services this month; amounts are shown before trade discounts have been deducted: • • Designs...
Excercise 3-11 and 3-13
Problem 3-12
Atkins Advertising Agency began busll during its first month of operations are as a. Acquired its articles of in a. Acquired is arickes of incorporation from the state and issued 100,000 sh 3 56Probleri 3 shares of capital in exchange for $200,000 in cash. b. an office building for $150,000 in cash. The building is valued at S e at the bank for $125,000. Purchased reeing to pay the remainde c. Signed a three-year...
The trial balance of Pacilio Security Services, Inc. as of January 1, Year 4, had the following normal balances:Cash$12,500Accounts Receivable3,500Supplies120Prepaid Rent1,000Land4,000Unearned Revenue900Salaries Payable1,000Common Stock8,000Retained Earnings11,220In Year 4, Pacilio Security Services decided to expand its business to sell security systems and offer 24-hour alarm monitoring services. It plans to phase out its current service of providing security personnel at various events. The following summary transactions occurred during Year 4 :1. Paid the salaries payable from Year 3.2. Acquired an additional $...
The trial balance of Pacilio Security Services, Inc. as of January 1, Year 4, had the following normal balances: Cash Accounts Receivable Supplies Prepaid Rent Land Unearned Revenue Salaries Payable Common Stock Retained Earnings $12,500 3,500 120 1,000 4,000 900 1,000 8,000 11,220 In Year 4, Pacilio Security Services decided to expand its business to sell security systems and offer 24-hour alarm monitoring services It plans to phase out its current service of providing security personnel at various events. The...
The trial balance of Pacilio Security Services, Inc. as of January 1, Year 4, had the following normal balances: Cash Accounts Receivable Supplies Prepaid Rent Land Unearned Revenue Salaries Payable Common Stock Retained Earnings $12,500 3,500 120 1,000 4,000 900 1,000 8,000 11,220 In Year 4, Pacilio Security Services decided to expand its business to sell security systems and offer 24-hour alarm monitoring services It plans to phase out its current service of providing security personnel at various events. The...
I
am having a hard time solving this problem from Chapter 5 in the
Book of Fundamental Accounting Principles edition 15 volume 1.
thank you
Required 1. Record and post the appropriate closing entries. 2. Prepare a post-closing trial balance. Chapter 5 Cumulative Comprehension Problem: Echo Systems Echo Systems-perpetual or periodic Note: Solutions are available for both perpetual and periodic. (The first three segments of this comprehensive problem were presented in Chapters 2, 3, and 4. If those segments have...
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