Homework Answers
| Date | Account | Debit | Credit |
|---|---|---|---|
| Dec 31 | Employee bonus expense | 48,113 | |
| Bonus payable | 48,113 | ||
| Dec 31 | Bonus payable | 48,113 | |
| Cash | 48,113 | ||
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Chapter 09 Homework i Saved For the year ended December 31, Lopez Company implements an employee...
For the year ended December 31, Lopez Company implements an employee bonus program based on company...
For
the year ended December 31, Lopez Company implements an employee
bonus program based on company net income, which the employees
share equally. Lopez’s bonus expense is computed as $47,619.
1$2. Prepare the journal entry at December 31 to record the
bonus due and later January 19 to record payment of the bonus to
employees.
For the year ended December 31, Lopez Company implements an employee bonus program based on company net income, which the employees share equally. Lopez's bonus...
Callyds m yr omework i Saved On December 31, 2019, the ledger of Lopez Company contained...
Callyds m yr omework i Saved On December 31, 2019, the ledger of Lopez Company contained the following account balances: Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Maria Lopez, Capital $31,800 Maria Lopez, Drawing 2,300 Fees Income 1,500 Depreciation Expense 24,800 Salaries Expense 1.900 Supplies Expense 2,400 Telephone Expense 47,050 Utilities Expense $12,300 47,750 2,150 5,800 2,400 2,000 4,050 Prepare the closing entries for the above transactions. View transaction list Journal entry worksheet K12 3 4 Prepare the...
Chapter 10 Homework Saved Dobbs Company issues 6%, two-year bonds, on December 31, 2018, with a...
Chapter 10 Homework Saved Dobbs Company issues 6%, two-year bonds, on December 31, 2018, with a par value of $94,000 and semiannual interest payments. Semiannual Period - End (0) 12/31/2018 (1) 6/30/2019 (2) 12/31/2019 6/30/2020 12/31/2020 Unamortized Discount $5,880 4,410 2,940 1,470 points Carrying Value $88,120 89,590 91,060 92,530 94,000 (3) eBook Use the above straight-line bond amortization table and prepare journal entries for the following. e Hint Required: (a) The issuance of bonds on December 31, 2018. (b) The...
Chapter 09 Homework i Saved Listed below are a few transactions and events of Piper Company....
Chapter 09 Homework i Saved Listed below are a few transactions and events of Piper Company. 1. Piper Company records a year-end entry for $10,000 of previously unrecorded cash sales (costing $5,000) and its sales taxes at a rate of 4%. 2. The company earned $50,000 of $125,000 previously received in advance and originally recorded as unearned services revenue. points Prepare any necessary adjusting entries at December 31 for Piper Company's year-end financial statements for each of the above separate...
On December 31, 2019, the ledger of Lopez Company contained the following account balances Cash Accounts...
On December 31, 2019, the ledger of Lopez Company contained the following account balances Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Maria Lopez, Capital $32,999 Maria Lopez, Drawing 2,850 Fees Income 2,050 Depreciation Expense 25,900 Salaries Expense 2,450 Supplies Expense 2,950 Telephone Expense 48,150 Utilities Expense $13,400 53,250 2,700 16,999 2,950 2,550 4,600 Prepare the closing entries for the above transactions, View transaction list Journal entry worksheet < 1 2 3 Prepare the closing entry for the drawing...
on December 31 2019 the ledger of Lopez company contained the following Knowledge Check 6 Soved...
on December 31 2019 the ledger of Lopez company contained the
following
Knowledge Check 6 Soved On December 31, 2019, the ledger of Lopez Company contained the following account balances: Cash $ 66,000 Maria Lopez, Drawing Accounts Receivable 5,800 Fees Income Supplies 4.29 Depreciation Expense Equipment 52,000 Salaries Expense Accumulated Depreciation 5,000 Supplies Expense Accounts Payable 6,000 Telephone Expense Maria Lopez, Capital 121,500 Utilities Expense $ 52,000 107,500 5,500 34,000 6,000 5,200 9,300 Prepare the closing entries for the above...
Chapter 08 Homework i Saved 12 On April 2. 2018, Montana Mining Co. pays $4,788,910 for...
Chapter 08 Homework i Saved 12 On April 2. 2018, Montana Mining Co. pays $4,788,910 for an ore deposit containing 1,469,000 tons. The company installs machinery in the mine costing $218,700, with an estimated seven-year life and no salvage value. The machinery will be abandoned when the ore is completely mined. Montana begins mining on May 1, 2018, and mines and sells 141,700 tons of ore during the remaining eight months of 2018. points Prepare the December 31, 2018, entries...
REQUIRED: Homework Chapter 3 0 Help Save & Exit Submit November 30 December Supplies Prepaid Insurance...
REQUIRED: Homework Chapter 3 0 Help Save & Exit Submit November 30 December Supplies Prepaid Insurance Salaries Payable Deferred Revenue Debit Credit Debit Credit 1,000 2,500 4,000 3,000 9,000 14,000 1,000 500 Doints eBook The following information also is known: Referencesa. Purchases of supplies in December total $2,500. b. No insurance payments are made in December c. $9,000 is paid to employees during December for November salaries. d. On November 1, a tenant pays Golden Eagle $1,500 in advance rent...
Chapter 08 Homework i Saved 13 Milano Gallery purchases the copyright on an oil painting for...
Chapter 08 Homework i Saved 13 Milano Gallery purchases the copyright on an oil painting for $390,000 on January 1, 2018. The copyright legally protects its owner for 10 more years. The company plans to market and sell prints of the original for 19 years. Prepare entries to record the purchase of the copyright on January 1, 2018, and its annual amortization on December 31, 2018. points View transaction list eBook Journal entry worksheet Hint Record the purchase of the...
Saved The ledger of Mal Company includes the following accounts with normal balances as of December...
Saved The ledger of Mal Company includes the following accounts with normal balances as of December 31: Common Stock $10,300; Dividends $1.450, Services Revenue $26,000: Wages Expense $14.900; and Rent Expense $4,200. Prepare its December 31 closing entries. View transaction list Journal entry worksheet 1 2 3 4 Record the entry to close revenue accounts. Note: Enter debit before credits General Journal Debit Credit Date Dec 31 Prepare its Dec closing entries. 0:57:58 View transaction is Journal entry worksheet A...
For
the year ended December 31, Lopez Company implements an employee
bonus program based on company net income, which the employees
share equally. Lopez’s bonus expense is computed as $47,619.
1$2. Prepare the journal entry at December 31 to record the
bonus due and later January 19 to record payment of the bonus to
employees.
For the year ended December 31, Lopez Company implements an employee bonus program based on company net income, which the employees share equally. Lopez's bonus...
Callyds m yr omework i Saved On December 31, 2019, the ledger of Lopez Company contained the following account balances: Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Maria Lopez, Capital $31,800 Maria Lopez, Drawing 2,300 Fees Income 1,500 Depreciation Expense 24,800 Salaries Expense 1.900 Supplies Expense 2,400 Telephone Expense 47,050 Utilities Expense $12,300 47,750 2,150 5,800 2,400 2,000 4,050 Prepare the closing entries for the above transactions. View transaction list Journal entry worksheet K12 3 4 Prepare the...
Chapter 10 Homework Saved Dobbs Company issues 6%, two-year bonds, on December 31, 2018, with a par value of $94,000 and semiannual interest payments. Semiannual Period - End (0) 12/31/2018 (1) 6/30/2019 (2) 12/31/2019 6/30/2020 12/31/2020 Unamortized Discount $5,880 4,410 2,940 1,470 points Carrying Value $88,120 89,590 91,060 92,530 94,000 (3) eBook Use the above straight-line bond amortization table and prepare journal entries for the following. e Hint Required: (a) The issuance of bonds on December 31, 2018. (b) The...
Chapter 09 Homework i Saved Listed below are a few transactions and events of Piper Company. 1. Piper Company records a year-end entry for $10,000 of previously unrecorded cash sales (costing $5,000) and its sales taxes at a rate of 4%. 2. The company earned $50,000 of $125,000 previously received in advance and originally recorded as unearned services revenue. points Prepare any necessary adjusting entries at December 31 for Piper Company's year-end financial statements for each of the above separate...
On December 31, 2019, the ledger of Lopez Company contained the following account balances Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Maria Lopez, Capital $32,999 Maria Lopez, Drawing 2,850 Fees Income 2,050 Depreciation Expense 25,900 Salaries Expense 2,450 Supplies Expense 2,950 Telephone Expense 48,150 Utilities Expense $13,400 53,250 2,700 16,999 2,950 2,550 4,600 Prepare the closing entries for the above transactions, View transaction list Journal entry worksheet < 1 2 3 Prepare the closing entry for the drawing...
on December 31 2019 the ledger of Lopez company contained the
following
Knowledge Check 6 Soved On December 31, 2019, the ledger of Lopez Company contained the following account balances: Cash $ 66,000 Maria Lopez, Drawing Accounts Receivable 5,800 Fees Income Supplies 4.29 Depreciation Expense Equipment 52,000 Salaries Expense Accumulated Depreciation 5,000 Supplies Expense Accounts Payable 6,000 Telephone Expense Maria Lopez, Capital 121,500 Utilities Expense $ 52,000 107,500 5,500 34,000 6,000 5,200 9,300 Prepare the closing entries for the above...
Chapter 08 Homework i Saved 12 On April 2. 2018, Montana Mining Co. pays $4,788,910 for an ore deposit containing 1,469,000 tons. The company installs machinery in the mine costing $218,700, with an estimated seven-year life and no salvage value. The machinery will be abandoned when the ore is completely mined. Montana begins mining on May 1, 2018, and mines and sells 141,700 tons of ore during the remaining eight months of 2018. points Prepare the December 31, 2018, entries...
REQUIRED: Homework Chapter 3 0 Help Save & Exit Submit November 30 December Supplies Prepaid Insurance Salaries Payable Deferred Revenue Debit Credit Debit Credit 1,000 2,500 4,000 3,000 9,000 14,000 1,000 500 Doints eBook The following information also is known: Referencesa. Purchases of supplies in December total $2,500. b. No insurance payments are made in December c. $9,000 is paid to employees during December for November salaries. d. On November 1, a tenant pays Golden Eagle $1,500 in advance rent...
Chapter 08 Homework i Saved 13 Milano Gallery purchases the copyright on an oil painting for $390,000 on January 1, 2018. The copyright legally protects its owner for 10 more years. The company plans to market and sell prints of the original for 19 years. Prepare entries to record the purchase of the copyright on January 1, 2018, and its annual amortization on December 31, 2018. points View transaction list eBook Journal entry worksheet Hint Record the purchase of the...
Saved The ledger of Mal Company includes the following accounts with normal balances as of December 31: Common Stock $10,300; Dividends $1.450, Services Revenue $26,000: Wages Expense $14.900; and Rent Expense $4,200. Prepare its December 31 closing entries. View transaction list Journal entry worksheet 1 2 3 4 Record the entry to close revenue accounts. Note: Enter debit before credits General Journal Debit Credit Date Dec 31 Prepare its Dec closing entries. 0:57:58 View transaction is Journal entry worksheet A...
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