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number 2 and 3
2) On January 2nd 2016, Naldo Party Supplies in of that, the...
number 2 please pries Inc had a debit balance of 110,850 in its Accounts Receivable account....
number 2 please
pries Inc had a debit balance of 110,850 in its Accounts Receivable account. Of Loc, de manager estimates that 11% will be uncollectible. Make the journal entry that re done with this analysis under the Allowance Method. CR Date Make the journal entry that reflects what should be Accounts DR 2) On January 21 2016, Naldo Party Supplies Inc had a debit balance of 112,600 in its Accounts Receivable account. Of that, the manager estimates that 11%...
3) On April 15 Naldo Party Supplies Inc granted a current customer, which is unable to...
3) On April 15 Naldo Party Supplies Inc granted a current customer, which is unable to pay at the current time, a 120 day, 13.5%, note loan. The principal balance is 4,200. Prepare the journal entries that reflect the Issuance AND Redemption of the note loan. (2 entries) Date Accounts CR
apter 8 Exercise 1) On January 2 Naldo Party Supplies Inc had a debit balance of 110.850 in its Accounts Receivable...
apter 8 Exercise 1) On January 2 Naldo Party Supplies Inc had a debit balance of 110.850 in its Accounts Receivable ac that, the manager estimates that 11% will be uncollectible. Make the journal entry that reflects whats 10,850 in its Accounts Receivable account. Of done with this analysis under the Allowance Method. urnal entry that reflects what should be Date Accounts DR
Zavier Company must make three adjusting entries on December 31, 2016. a. Supplies used, $9,100; (supplies...
Zavier Company must make three adjusting entries on December 31, 2016. a. Supplies used, $9,100; (supplies totaling $14,200 were purchased on December 1, 2016, and debited to the Supplies account). b. Expired insurance, 56,300 on December 1, 2016, the firm paid $37,800 for six months insurance coverage in advance and debited Prepaid Insurance for this amount. c. Depreciation expense for equipment, $3,900.TLES Prepare the journal entries for the above adjustments View transaction list Journal entry worksheet Prepare the adjusting entry...
Chapter 8 Practice Problems Problem #1: Direct Write Off Method Mar 3, sold merchandise on account...
Chapter 8 Practice Problems Problem #1: Direct Write Off Method Mar 3, sold merchandise on account to Johnson, Inc., $25,800. The merchandise had a cost of $12,650 Date Accounts Dr Cr April 10 received $20,000 cash from Johnson, Inc. and wrote off the balance as uncollectible. Date Accounts Dr Cr Aug 25, reinstated the Johnson, Inc, account that was previously written off. Received the full amount due on the account. Date Accounts Dr Cr Date Accounts Dr Cr Chapter 8...
Desoto Company must make three adjusting entries on December 31, 2019. a. Supplies used, $10,100 (supplies...
Desoto Company must make three adjusting entries on December 31, 2019. a. Supplies used, $10,100 (supplies totaling $16,200 were purchased on December 1, 2019, and debited to the Supplies account). b. Expired insurance, $7,300; on December 1, 2019, the firm paid $43,800 for six months' insurance coverage in advance and debited Prepaid Insurance for this amount. c. Depreciation expense for equipment, $4,900 Required: Prepare the journal entries for these adjustments and post the entries to the general ledger accounts Complete...
Requirement 1, 3, and 4 1. Journalize the transactions given for July in the general journal....
Requirement 1, 3, and 4 1. Journalize the transactions given for July in the general journal. 3. Prepare a trial balance as of July 31. 4. Prepare the financial statements for July using the trial balance Previous PROBLEM 3-C Ledger Cards Account: Accounts Payable Date Explanation 8-Jul Debit 600,000 Debit Credit 28,800 CR Balance 28,800 Account: Cash Date Explanation 1-Jul 5-Jul 15-Jul 18-Jul 23-Jul 27-Jul 30-Jul 31-Jul 31-Jul 31-Jul DR Credit Balance 600,000 5,000 595,000 120,000 475,000 2,880 472,120 489,400...
The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July 31,...
The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July 31, 2016: Total Accounts Receivable $128,000 $90,700 $55,100 $33,300 Number of Days Unpaid Historical % Uncollectible Not yet due 1-30 days past due 31-60 days past due Over 60 days past due 5% 10% 16% 35% Required: a. The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies, Inc. is a credit balance in the amount of $29,397 on July 31, 2016. Prepare...
On April 30, Special Party Planners had a $37,000 balance in Accounts Receivable and a $2,422...
On April 30, Special Party Planners had a $37,000 balance in Accounts Receivable and a $2,422 credit balance in Allowance for Uncollectible Accounts. During May, Special made credit sales of $194,000. May collections on account were $171,000, and write-offs of uncollectible receivables totaled $2,830. Uncollectible-accounts expense is estimated as 3% of credit sales. No sales returns are expected. Ignore cost of goods sold. Read the requirements. Requirement 1. Journalize sales, collections, write-offs of uncollectibles, and uncollectible-account expense by the allowance...
On November 30, Purple Party Planners had a $35,000 balance in Accounts Receivable and a $3,477...
On November 30, Purple Party Planners had a $35,000 balance in Accounts Receivable and a $3,477 credit balance in Allowance for Uncollectible Accounts. During December, Purple made credit sales of $192,000. December collections on account were $170,000, and write-offs of uncollectible receivables totaled $2,910. Uncollectible-accounts expense is estimated as 4% of credit sales. No sales returns are expected. Ignore cost of goods sold. Read the requirements. Requirement 1. Journalize sales, collections, write-offs of uncollectibles, and uncollectible-account expense by the allowance...
number 2 please
pries Inc had a debit balance of 110,850 in its Accounts Receivable account. Of Loc, de manager estimates that 11% will be uncollectible. Make the journal entry that re done with this analysis under the Allowance Method. CR Date Make the journal entry that reflects what should be Accounts DR 2) On January 21 2016, Naldo Party Supplies Inc had a debit balance of 112,600 in its Accounts Receivable account. Of that, the manager estimates that 11%...
3) On April 15 Naldo Party Supplies Inc granted a current customer, which is unable to pay at the current time, a 120 day, 13.5%, note loan. The principal balance is 4,200. Prepare the journal entries that reflect the Issuance AND Redemption of the note loan. (2 entries) Date Accounts CR
apter 8 Exercise 1) On January 2 Naldo Party Supplies Inc had a debit balance of 110.850 in its Accounts Receivable ac that, the manager estimates that 11% will be uncollectible. Make the journal entry that reflects whats 10,850 in its Accounts Receivable account. Of done with this analysis under the Allowance Method. urnal entry that reflects what should be Date Accounts DR
Zavier Company must make three adjusting entries on December 31, 2016. a. Supplies used, $9,100; (supplies totaling $14,200 were purchased on December 1, 2016, and debited to the Supplies account). b. Expired insurance, 56,300 on December 1, 2016, the firm paid $37,800 for six months insurance coverage in advance and debited Prepaid Insurance for this amount. c. Depreciation expense for equipment, $3,900.TLES Prepare the journal entries for the above adjustments View transaction list Journal entry worksheet Prepare the adjusting entry...
Chapter 8 Practice Problems Problem #1: Direct Write Off Method Mar 3, sold merchandise on account to Johnson, Inc., $25,800. The merchandise had a cost of $12,650 Date Accounts Dr Cr April 10 received $20,000 cash from Johnson, Inc. and wrote off the balance as uncollectible. Date Accounts Dr Cr Aug 25, reinstated the Johnson, Inc, account that was previously written off. Received the full amount due on the account. Date Accounts Dr Cr Date Accounts Dr Cr Chapter 8...
Desoto Company must make three adjusting entries on December 31, 2019. a. Supplies used, $10,100 (supplies totaling $16,200 were purchased on December 1, 2019, and debited to the Supplies account). b. Expired insurance, $7,300; on December 1, 2019, the firm paid $43,800 for six months' insurance coverage in advance and debited Prepaid Insurance for this amount. c. Depreciation expense for equipment, $4,900 Required: Prepare the journal entries for these adjustments and post the entries to the general ledger accounts Complete...
Requirement 1, 3, and 4 1. Journalize the transactions given for July in the general journal. 3. Prepare a trial balance as of July 31. 4. Prepare the financial statements for July using the trial balance Previous PROBLEM 3-C Ledger Cards Account: Accounts Payable Date Explanation 8-Jul Debit 600,000 Debit Credit 28,800 CR Balance 28,800 Account: Cash Date Explanation 1-Jul 5-Jul 15-Jul 18-Jul 23-Jul 27-Jul 30-Jul 31-Jul 31-Jul 31-Jul DR Credit Balance 600,000 5,000 595,000 120,000 475,000 2,880 472,120 489,400...
The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July 31, 2016: Total Accounts Receivable $128,000 $90,700 $55,100 $33,300 Number of Days Unpaid Historical % Uncollectible Not yet due 1-30 days past due 31-60 days past due Over 60 days past due 5% 10% 16% 35% Required: a. The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies, Inc. is a credit balance in the amount of $29,397 on July 31, 2016. Prepare...
On April 30, Special Party Planners had a $37,000 balance in Accounts Receivable and a $2,422 credit balance in Allowance for Uncollectible Accounts. During May, Special made credit sales of $194,000. May collections on account were $171,000, and write-offs of uncollectible receivables totaled $2,830. Uncollectible-accounts expense is estimated as 3% of credit sales. No sales returns are expected. Ignore cost of goods sold. Read the requirements. Requirement 1. Journalize sales, collections, write-offs of uncollectibles, and uncollectible-account expense by the allowance...
On November 30, Purple Party Planners had a $35,000 balance in Accounts Receivable and a $3,477 credit balance in Allowance for Uncollectible Accounts. During December, Purple made credit sales of $192,000. December collections on account were $170,000, and write-offs of uncollectible receivables totaled $2,910. Uncollectible-accounts expense is estimated as 4% of credit sales. No sales returns are expected. Ignore cost of goods sold. Read the requirements. Requirement 1. Journalize sales, collections, write-offs of uncollectibles, and uncollectible-account expense by the allowance...
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