Homework Answers
| During the fiscal year, the sevices was performed for 2 months ( November and December) | |||
| Therefore revenue to be recorded for 2 month | |||
| =$3400 *2 months | |||
| =$64800 | |||
| Correct Option: THIRD | |||
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why is 6800 the coreect answer?
Question 16 0/1 pts Dalton Delivery Service is hired on...
why is 947000 right? Question 20 0/1 pts Anthony Delivery Service has a weekly payroll of...
why is 947000 right?
Question 20 0/1 pts Anthony Delivery Service has a weekly payroll of $30,000. December 31 falls on Tuesday and Anthony will pay its employees the following Monday (January 6) for the previous full week. Assume that Anthony has a five-day workweek and has an unadjusted balance in Salaries Expense of $935,000. What is the Decemwer 31 balance of Salaries Expense after adjusting entries are recorded and posted? $935,000 You Answered $965,000 $953.000 Correct Answer $947,000 Question...
D Question 33 2 pts Allen Company is hired on December 15, 2016 to perform services,...
D Question 33 2 pts Allen Company is hired on December 15, 2016 to perform services, beginning on December 16, 2016. Under this agreement, Allen will eam 54,500 monthly and receive payment on January 15, 2017 What amount of service revenue should be recorded for the year ending December 31, 2016? A) B) $2,250 C) 4,500 D) There is not enough information to answer this >
can you please mark the explanations while answering this practice problem? 1. 2. 3. etc Magness Delivery Service has completed closing entries and the accounting cycle for 2016. The busine...
can you please mark the explanations while answering this
practice problem?
1.
2.
3.
etc
Magness Delivery Service has completed closing entries and the accounting cycle for 2016. The business is now ready to record January 2017 transactions. Collected $1,000 cash from customer on account. 5 Purchased office supplies on account, $600. 12 Performed delivery services for a customer and received $2,000 cash. 15 Paid employee salary including the amount owed on December 31, $2,500. 18 Performed delivery services on...
Manning Delivery Service completed the following transactions duringDecember 2018: 1. Record each transaction in the journal...
Manning Delivery Service completed the following transactions duringDecember 2018: 1. Record each transaction in the journal using the following chart of accounts. Explanations are not required. Dec. 1 Manning Delivery Service began operations by receiving $15,000 cash and a truck with a fair value of $18,000 from Radley Manning. The business issued Manning capital in exchange for this contribution. Dec. 1 Paid $900 cash for a six-month insurance policy. The policy begins December 1. Dec. 4 Paid $800 cash for...
Solve for Req 5. M er Delivery Service completed the following transactions during December 2016 (Click the icon to...
Solve for Req 5.
M er Delivery Service completed the following transactions during December 2016 (Click the icon to view the transactions.) 1. Record each transaction in the journaling the following chart of accounts Explanations are not required Cash Read the requirements Accounts Recovable Office Supplies Prepaid Insurance Retained Emings Dividends Income Summary Dec Salaries Expense Depreciation Expense --Truck Insurance Expense Truck Accumulated Depreciation ---Truck Accounts Payable Salaries Payable Unced Revenue Common shock Rent Expense Suse 1 Miller Delivery Service...
why is 3938 the right answer? Question 18 0/1 pts Russin Tax Planning Service bought computer...
why is 3938 the right answer?
Question 18 0/1 pts Russin Tax Planning Service bought computer equipment for $21,000 on January 1, 2016. It has an estimated useful life of four years and zero residual value. Russin uses the straight-line method to calculate depreciation and records depreciation expense in the books at the end of every month. Calculate the amount of Depreciation Expense for the period, January 1, 2016 through September 30, 2016, for this equipment. (Round any intermediate calculations...
Partial Question 4 1.75/3 pts You've been hired by Pitchfork, Inc. to review several transactions that...
Partial Question 4 1.75/3 pts You've been hired by Pitchfork, Inc. to review several transactions that were omitted as adjusting journal entries at December 31, 20x1, which is Pitchfork's year-end. For each of the transactions listed below, record the appropriate AJE that should have been recorded at December 31st. Transactions: 1. On November 1, 20x1, Pitchfork received a $25,000 advance payment from a customer for services to be performed evenly over the next 5 months. The original entry was credited...
please answer question 2 Problem Selected accounts from the ledger of Hughes Company appear below. For...
please answer question 2
Problem Selected accounts from the ledger of Hughes Company appear below. For each account, indicate the following: 1. In the first column at the right, indicate the nature of each account, using the following abbreviations: (a) Revenue R Asset A Liability - L Capital/Equity- C Expense - E In the second column, indicate the increase side of each account by inserting Dr. or (b) Cг. Туре оf Account Increase Side Account Supplies Notes Receivable Fees Earned...
P4-2 LO4-1 Recording Adjusting Entries (AP4-2) All of the current year's entries for Zimmerman Company have...
P4-2 LO4-1 Recording Adjusting Entries (AP4-2) All of the current year's entries for Zimmerman Company have been made, except the following adjusting entries. The company's annual accounting year ends on December 31. a. On September 1 of the current year, Zimmerman collected six months' rent of $9,600 on storage space. Al that date, Zimmerman debited Cash and credited Unearned Rent Revenue for $9,600. b. On October 1 of the current year, the company borrowed $18,000 from a local bank and...
For a the original journal entry was for a Cash 5500 Service revenue 5500 c. the...
For a the original journal entry was for a
Cash 5500
Service revenue 5500
c. the second note is for 40,000, 9 month note at 6%
D. Equipment 1. purchased 1/1/19 was bought for 60,000
Equipment 2 purchased for 45,000 on 12/1/19
J. 12/1 last pay day for this employee was on 12/27
Hired Tailer Sift as a staff accountant who will be paid $400
per day for a 5-day (M-F) work week. Payday is every other Friday
for the...
why is 947000 right?
Question 20 0/1 pts Anthony Delivery Service has a weekly payroll of $30,000. December 31 falls on Tuesday and Anthony will pay its employees the following Monday (January 6) for the previous full week. Assume that Anthony has a five-day workweek and has an unadjusted balance in Salaries Expense of $935,000. What is the Decemwer 31 balance of Salaries Expense after adjusting entries are recorded and posted? $935,000 You Answered $965,000 $953.000 Correct Answer $947,000 Question...
D Question 33 2 pts Allen Company is hired on December 15, 2016 to perform services, beginning on December 16, 2016. Under this agreement, Allen will eam 54,500 monthly and receive payment on January 15, 2017 What amount of service revenue should be recorded for the year ending December 31, 2016? A) B) $2,250 C) 4,500 D) There is not enough information to answer this >
can you please mark the explanations while answering this
practice problem?
1.
2.
3.
etc
Magness Delivery Service has completed closing entries and the accounting cycle for 2016. The business is now ready to record January 2017 transactions. Collected $1,000 cash from customer on account. 5 Purchased office supplies on account, $600. 12 Performed delivery services for a customer and received $2,000 cash. 15 Paid employee salary including the amount owed on December 31, $2,500. 18 Performed delivery services on...
Solve for Req 5.
M er Delivery Service completed the following transactions during December 2016 (Click the icon to view the transactions.) 1. Record each transaction in the journaling the following chart of accounts Explanations are not required Cash Read the requirements Accounts Recovable Office Supplies Prepaid Insurance Retained Emings Dividends Income Summary Dec Salaries Expense Depreciation Expense --Truck Insurance Expense Truck Accumulated Depreciation ---Truck Accounts Payable Salaries Payable Unced Revenue Common shock Rent Expense Suse 1 Miller Delivery Service...
why is 3938 the right answer?
Question 18 0/1 pts Russin Tax Planning Service bought computer equipment for $21,000 on January 1, 2016. It has an estimated useful life of four years and zero residual value. Russin uses the straight-line method to calculate depreciation and records depreciation expense in the books at the end of every month. Calculate the amount of Depreciation Expense for the period, January 1, 2016 through September 30, 2016, for this equipment. (Round any intermediate calculations...
Partial Question 4 1.75/3 pts You've been hired by Pitchfork, Inc. to review several transactions that were omitted as adjusting journal entries at December 31, 20x1, which is Pitchfork's year-end. For each of the transactions listed below, record the appropriate AJE that should have been recorded at December 31st. Transactions: 1. On November 1, 20x1, Pitchfork received a $25,000 advance payment from a customer for services to be performed evenly over the next 5 months. The original entry was credited...
please answer question 2
Problem Selected accounts from the ledger of Hughes Company appear below. For each account, indicate the following: 1. In the first column at the right, indicate the nature of each account, using the following abbreviations: (a) Revenue R Asset A Liability - L Capital/Equity- C Expense - E In the second column, indicate the increase side of each account by inserting Dr. or (b) Cг. Туре оf Account Increase Side Account Supplies Notes Receivable Fees Earned...
P4-2 LO4-1 Recording Adjusting Entries (AP4-2) All of the current year's entries for Zimmerman Company have been made, except the following adjusting entries. The company's annual accounting year ends on December 31. a. On September 1 of the current year, Zimmerman collected six months' rent of $9,600 on storage space. Al that date, Zimmerman debited Cash and credited Unearned Rent Revenue for $9,600. b. On October 1 of the current year, the company borrowed $18,000 from a local bank and...
For a the original journal entry was for a
Cash 5500
Service revenue 5500
c. the second note is for 40,000, 9 month note at 6%
D. Equipment 1. purchased 1/1/19 was bought for 60,000
Equipment 2 purchased for 45,000 on 12/1/19
J. 12/1 last pay day for this employee was on 12/27
Hired Tailer Sift as a staff accountant who will be paid $400
per day for a 5-day (M-F) work week. Payday is every other Friday
for the...
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