Please confirm the journal entry for above. The interest expense is
$3600. Please answer with explanation and working.
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Please confirm the journal entry for above. The interest expense is
$3600. Please answer with explanation...
need to finish journal entries and balance sheet account how much interest expense relating to notes...
need to finish journal entries and balance sheet account
how much interest expense relating to notes payable did monty
incur during the year. interest expense incurred during the
year
CALCULATOR PRINTER VERSION 4BACK NEXT Problem 10-2A Monty Corporation sells rock-climbing products and also aperates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Monty had the following transactions related to notes payable. Sept. Issued a $14,400 note to Pippen to purchase inventory. The 3-month note payable...
extra explanation on point two please Give an example journal entry for each of the following...
extra explanation on point two please
Give an example journal entry for each of the following transactions recorded in proper general journal form, including the AT, AI,Lt,LT, OEJOEf arrows. Cash purchase of a long-term asset that includes an asset retirement obligation, One self-constructed asset that will not be completed by the end of the year which includes at least 2 expenditures during the fiscal year, One impairment of existing goodwill or another long-term asset that is held and used, Depreciation...
General Journal entry options: No Journal Entry Required Accounts Payable Accounts Receivable Ac...
General Journal entry options:
No Journal Entry Required
Accounts Payable
Accounts Receivable
Accumulated Amortization
Accumulated Depreciation
Advertising Expense
Amortization Expense
Bad Debt Expense
Buildings
Cash
Common Stock
Copyrights
Cost of Goods Sold
Deferred Revenue
Delivery Expense
Depreciation Expense
Dividends
Dividends Payable
Donation Revenue
Equipment
Franchise Rights
Goodwill
Income Tax Expense
Income Tax Payable
Insurance Expense
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Inventory
Land
Legal Expense
Licensing Rights
Logo and Trademarks
Notes Payable (long-term)
Notes Payable (short-term)
Notes Receivable...
- For each of the following transactions below, prepare the journal entry (if one is required)...
- For each of the following transactions below, prepare the journal entry (if one is required) to record the initial transaction and then prepare the adjusting entry, if any, required on September 30, the end of the fiscal year. (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 O for the amounts.) (a) On September 1, paid rent on the...
Problem 4-2A Preparing a work sheet, adjusting and closing entries, and financial statements LO C3, P1,...
Problem 4-2A Preparing a work sheet, adjusting and closing entries, and financial statements LO C3, P1, P2 The following unadjusted trial balance is for ACE CONSTRUCTION CO. as of the end of its 2017 fiscal year. The June 30, 2016, credit balance of the owner’s capital account was $53,800, and the owner invested $25,000 cash in the company during the 2017 fiscal year. ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2017 No. Account Title Debit Credit 101 Cash $...
Solve Journal entry please! Required information Kn On October 1, Willette Company borrowed $120 000 cash...
Solve Journal entry please!
Required information Kn On October 1, Willette Company borrowed $120 000 cash and issued a six-month, 10% promissory note. Interest is payable at maturity. Willette has a calendar year-end and has not yet accrued any interest on the note ge Check 01 Prepare the appropriate adjusting entry dated December 31. (f no entry is required for a transaction/ event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the interest accrued...
PLease answer the last three journal enteries The following transactions of My Tunes Music Company occurred...
PLease answer the last three
journal enteries
The following transactions of My Tunes Music Company occurred during 2018 and 2019 1 (Click the icon to view the transactions.) 1. Record the transactions in My Tunes' journal. Explanations are not required. Date Accounts Debit Credit 2018 Dec 31 6850 d Warranty Payable 6860 Transactions Dec 31: Accrued interest on the outstanding note payable. 2018 Mar Journal Ent 3 Purchased a piano (inventory) for $55,000, signing a six-month, 896 note payable. Borrowed...
a. Salaries Payable. At year-end, salaries expense of $20.500 has been incurred by the company, but...
a. Salaries Payable. At year-end, salaries expense of $20.500 has been incurred by the company, but is not yet paid to employees. b. Interest Payable. At its December 31 year-end, the company owes $500 of interest on a line of credit loan. That interest will not be paid until sometime in January of the next year. c. Interest Payable. At its December 31 year end, the company holds a mortgage payable that has incurred $1,125 in annual interest that is...
The following table includes five separate short-term note payable scenarios. Exercise 15-59 Calculating Accrued Interest Expense...
The following table includes five separate short-term note payable scenarios. Exercise 15-59 Calculating Accrued Interest Expense L04 Stated Rate Fiscal Year-End Accrued Interest at Fiscal Year-End Note Payable Issuance Date Term 1 2 3 4 5 $5,000 note payable September 1, 2020 $5,000 note payable September 30, 2020 $2,000 note payable November 1, 2020 $2,000 note payable November 30, 2020 $10,000 note payable May 31, 2020 6-month 6-month 3-month 3-month 12-month 6% 6% 8% 8% 10% December 31 December 31...
I un d els al answer to the rest 3) The journal entry for accrued interest...
I un d els al answer to the rest 3) The journal entry for accrued interest on a note payable includes A) a debit to Interest Expense and credit to Cash B) a debit to Interest Expense and credit to Interest Payable C) a debit to Interest Payable and credit to Cash D) a credit to Interest Expense and debit to Notes Payable 4) Brad's gross pay for the month is $15,400. His deduction for deductions are for payroll taxon
need to finish journal entries and balance sheet account
how much interest expense relating to notes payable did monty
incur during the year. interest expense incurred during the
year
CALCULATOR PRINTER VERSION 4BACK NEXT Problem 10-2A Monty Corporation sells rock-climbing products and also aperates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Monty had the following transactions related to notes payable. Sept. Issued a $14,400 note to Pippen to purchase inventory. The 3-month note payable...
extra explanation on point two please
Give an example journal entry for each of the following transactions recorded in proper general journal form, including the AT, AI,Lt,LT, OEJOEf arrows. Cash purchase of a long-term asset that includes an asset retirement obligation, One self-constructed asset that will not be completed by the end of the year which includes at least 2 expenditures during the fiscal year, One impairment of existing goodwill or another long-term asset that is held and used, Depreciation...
General Journal entry options:
No Journal Entry Required
Accounts Payable
Accounts Receivable
Accumulated Amortization
Accumulated Depreciation
Advertising Expense
Amortization Expense
Bad Debt Expense
Buildings
Cash
Common Stock
Copyrights
Cost of Goods Sold
Deferred Revenue
Delivery Expense
Depreciation Expense
Dividends
Dividends Payable
Donation Revenue
Equipment
Franchise Rights
Goodwill
Income Tax Expense
Income Tax Payable
Insurance Expense
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Inventory
Land
Legal Expense
Licensing Rights
Logo and Trademarks
Notes Payable (long-term)
Notes Payable (short-term)
Notes Receivable...
- For each of the following transactions below, prepare the journal entry (if one is required) to record the initial transaction and then prepare the adjusting entry, if any, required on September 30, the end of the fiscal year. (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 O for the amounts.) (a) On September 1, paid rent on the...
Solve Journal entry please!
Required information Kn On October 1, Willette Company borrowed $120 000 cash and issued a six-month, 10% promissory note. Interest is payable at maturity. Willette has a calendar year-end and has not yet accrued any interest on the note ge Check 01 Prepare the appropriate adjusting entry dated December 31. (f no entry is required for a transaction/ event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the interest accrued...
PLease answer the last three
journal enteries
The following transactions of My Tunes Music Company occurred during 2018 and 2019 1 (Click the icon to view the transactions.) 1. Record the transactions in My Tunes' journal. Explanations are not required. Date Accounts Debit Credit 2018 Dec 31 6850 d Warranty Payable 6860 Transactions Dec 31: Accrued interest on the outstanding note payable. 2018 Mar Journal Ent 3 Purchased a piano (inventory) for $55,000, signing a six-month, 896 note payable. Borrowed...
a. Salaries Payable. At year-end, salaries expense of $20.500 has been incurred by the company, but is not yet paid to employees. b. Interest Payable. At its December 31 year-end, the company owes $500 of interest on a line of credit loan. That interest will not be paid until sometime in January of the next year. c. Interest Payable. At its December 31 year end, the company holds a mortgage payable that has incurred $1,125 in annual interest that is...
The following table includes five separate short-term note payable scenarios. Exercise 15-59 Calculating Accrued Interest Expense L04 Stated Rate Fiscal Year-End Accrued Interest at Fiscal Year-End Note Payable Issuance Date Term 1 2 3 4 5 $5,000 note payable September 1, 2020 $5,000 note payable September 30, 2020 $2,000 note payable November 1, 2020 $2,000 note payable November 30, 2020 $10,000 note payable May 31, 2020 6-month 6-month 3-month 3-month 12-month 6% 6% 8% 8% 10% December 31 December 31...
I un d els al answer to the rest 3) The journal entry for accrued interest on a note payable includes A) a debit to Interest Expense and credit to Cash B) a debit to Interest Expense and credit to Interest Payable C) a debit to Interest Payable and credit to Cash D) a credit to Interest Expense and debit to Notes Payable 4) Brad's gross pay for the month is $15,400. His deduction for deductions are for payroll taxon
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