Homework Answers
|
Account Titles & Explanations |
Debit |
Credit |
|
Raw materials Inventory |
$12000 |
|
|
Accounts payable |
$12000 |
|
|
Factory Labor |
$6000 |
|
|
Factory Wages Payables |
$6000 |
|
|
Manufacturing Overhead |
$4000 |
|
|
Accounts Payable |
$4000 |
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Question 2 ew Policies arrent Attempt in Progress During the first year of operations, Shapiro Tool...
Question 2 View Policies Current Attempt in Progress At the end of its first year, the...
Question 2 View Policies Current Attempt in Progress At the end of its first year, the trial balance of Crane Company shows Equipment $22.400 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $3,400. Prepare the adjusting entry for depreciation at December 31. Of no entry is required, select 'No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do...
Question 1 of 2 ./15 E View Policies Current Attempt in Progress On January 6, Bramble...
Question 1 of 2 ./15 E View Policies Current Attempt in Progress On January 6, Bramble Corp. sells merchandise on account to Harley Inc. for 58,100, terms 3/10,130. On January 16, Harley pays the amount due Prepare the entries on Bramble Corp's books to record the sale and related collection (Omit cost of goods sold entries) (Credit account titles are automatically Indented when amount is entered. Do not indent vonually. Record journal entries in the order presented in the problem)...
Question 3 of 12 -/1 View Policies Current Attempt in Progress On July 1, 2022, Carla...
Question 3 of 12 -/1 View Policies Current Attempt in Progress On July 1, 2022, Carla Vista Co. pays $14,632 to Sandhill Co.for a 2-year insurance contract. Both companies have fiscal years ending December 31 Journalize the entry on July 1 and the adjusting entry on December 31 for Sandhill Co. Sandhill uses the accounts Unearned Service Revenue and Service Revenue. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount...
Question 1 View Policies Show Attempt History Current Attempt in Progress Ivanhoe Company acquired 30% of...
Question 1 View Policies Show Attempt History Current Attempt in Progress Ivanhoe Company acquired 30% of the outstanding common stock of Grinwold Inc. on January 1, 2022, by paying $2,250,000 for 75,000 shares. Grinwold declared and pald a $1 per share cash dividend on June 30 and again on December 31, 2022. Grinwold reported net income of $1,000,000 for the year. Your answer is correct. Prepare the Journal entries for Ivanhoe Company for 2022, assuming Ivanhoe cannot exercise significant influence...
Question 4 of 7 View Policies Current Attempt in Progress Ayayai Corp. has the following transactions...
Question 4 of 7 View Policies Current Attempt in Progress Ayayai Corp. has the following transactions during August of the current year. Aug. 1 Issues shares of common stock to investors in exchange for $10,000. Pays insurance in advance for 3 months, $1,000 16 Receives $700 from clients for services rendered. 27 Pays the secretary $450 salary. 4 Journalize the transactions. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account...
Weekly View Policies Current Attempt in Progress Prepare the journal entries to record the following purchase...
Weekly View Policies Current Attempt in Progress Prepare the journal entries to record the following purchase transactions in Ivanhoe Company's books. Ivanhoe uses a perpetual inventory system ces tions Jan. 2 Ivanhoe purchased $20,800 of merchandise from Feng Company, terms 1/30. FOB shipping point. 4 The correct company paid freight costs of $265 6 Ivanhoe returned $2.200 of the merchandise purchased on January 2 because it was not needed. Feb. 1 Ivanhoe paid the balance owing to Feng JS Support...
Question 1 0.72/2 View Policies Show Attempt History Current Attempt in Progress These are two independent...
Question 1 0.72/2 View Policies Show Attempt History Current Attempt in Progress These are two independent situations: 1. Sunland Cosmetics acquired 12% of the 287,500 shares of common stock of Elite Fashion at a total cost of $14 per share on March 18, 2020. On June 30, Elite declared and paid a $80,200 dividend. On December 31, Elite reported net income of $228,100 for the year. At December 31, the market price of Elite Fashion was $16 per share. 2....
Question 7 of 7 7 0.5/ 13 View Policies Show Attempt History Current Attempt in Progress...
Question 7 of 7 7 0.5/ 13 View Policies Show Attempt History Current Attempt in Progress Visage Cosmetics, a public company, acquires 40% of Marin Inc's 26,600 common shares for $17 per share on January 2, 2021. On June 15, Marin pays a cash dividend of $26,600. On December 31, Marin reports profit of $382,800 for the year. At December 31, Marin shares are trading at $22 per share. Your answer is correct. Prepare the required journal entries to record...
uestion 1 of 3 < 0.64/1 ew Policies how Attempt History urrent Attempt in Progress Transactions...
uestion 1 of 3 < 0.64/1 ew Policies how Attempt History urrent Attempt in Progress Transactions for Blossom Ltd. for the month of June, its first month of operations, are presented below. June 1 4 7 18 Issued common shares to shareholders in exchange for $2.000 cash. Purchased supplies on account for $200. Billed J. Kronsnoble $300 for welding work done. Received partial payment of $200 from J. Kronsnoble for work billed on June 7. Hired a new employee to...
how can I solve these two questions? RCSLIUI 1 View Policies ice and mual Current Attempt...
how can I solve these two questions?
RCSLIUI 1 View Policies ice and mual Current Attempt in Progress el cess Splish Co. uses the gross method to record sales made on credit. On June 1, 2020, it made sales of $43,000 with terms 2/15,6/45. On June 12, 2020, Splish received full payment for the June 1 sale. pport Prepare the required journal entries for Splish Co. (If no entry is required, select "No Entry for the account titles and enter...
Question 2 View Policies Current Attempt in Progress At the end of its first year, the trial balance of Crane Company shows Equipment $22.400 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $3,400. Prepare the adjusting entry for depreciation at December 31. Of no entry is required, select 'No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do...
Question 1 of 2 ./15 E View Policies Current Attempt in Progress On January 6, Bramble Corp. sells merchandise on account to Harley Inc. for 58,100, terms 3/10,130. On January 16, Harley pays the amount due Prepare the entries on Bramble Corp's books to record the sale and related collection (Omit cost of goods sold entries) (Credit account titles are automatically Indented when amount is entered. Do not indent vonually. Record journal entries in the order presented in the problem)...
Question 3 of 12 -/1 View Policies Current Attempt in Progress On July 1, 2022, Carla Vista Co. pays $14,632 to Sandhill Co.for a 2-year insurance contract. Both companies have fiscal years ending December 31 Journalize the entry on July 1 and the adjusting entry on December 31 for Sandhill Co. Sandhill uses the accounts Unearned Service Revenue and Service Revenue. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount...
Question 1 View Policies Show Attempt History Current Attempt in Progress Ivanhoe Company acquired 30% of the outstanding common stock of Grinwold Inc. on January 1, 2022, by paying $2,250,000 for 75,000 shares. Grinwold declared and pald a $1 per share cash dividend on June 30 and again on December 31, 2022. Grinwold reported net income of $1,000,000 for the year. Your answer is correct. Prepare the Journal entries for Ivanhoe Company for 2022, assuming Ivanhoe cannot exercise significant influence...
Question 4 of 7 View Policies Current Attempt in Progress Ayayai Corp. has the following transactions during August of the current year. Aug. 1 Issues shares of common stock to investors in exchange for $10,000. Pays insurance in advance for 3 months, $1,000 16 Receives $700 from clients for services rendered. 27 Pays the secretary $450 salary. 4 Journalize the transactions. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account...
Weekly View Policies Current Attempt in Progress Prepare the journal entries to record the following purchase transactions in Ivanhoe Company's books. Ivanhoe uses a perpetual inventory system ces tions Jan. 2 Ivanhoe purchased $20,800 of merchandise from Feng Company, terms 1/30. FOB shipping point. 4 The correct company paid freight costs of $265 6 Ivanhoe returned $2.200 of the merchandise purchased on January 2 because it was not needed. Feb. 1 Ivanhoe paid the balance owing to Feng JS Support...
Question 1 0.72/2 View Policies Show Attempt History Current Attempt in Progress These are two independent situations: 1. Sunland Cosmetics acquired 12% of the 287,500 shares of common stock of Elite Fashion at a total cost of $14 per share on March 18, 2020. On June 30, Elite declared and paid a $80,200 dividend. On December 31, Elite reported net income of $228,100 for the year. At December 31, the market price of Elite Fashion was $16 per share. 2....
Question 7 of 7 7 0.5/ 13 View Policies Show Attempt History Current Attempt in Progress Visage Cosmetics, a public company, acquires 40% of Marin Inc's 26,600 common shares for $17 per share on January 2, 2021. On June 15, Marin pays a cash dividend of $26,600. On December 31, Marin reports profit of $382,800 for the year. At December 31, Marin shares are trading at $22 per share. Your answer is correct. Prepare the required journal entries to record...
uestion 1 of 3 < 0.64/1 ew Policies how Attempt History urrent Attempt in Progress Transactions for Blossom Ltd. for the month of June, its first month of operations, are presented below. June 1 4 7 18 Issued common shares to shareholders in exchange for $2.000 cash. Purchased supplies on account for $200. Billed J. Kronsnoble $300 for welding work done. Received partial payment of $200 from J. Kronsnoble for work billed on June 7. Hired a new employee to...
how can I solve these two questions?
RCSLIUI 1 View Policies ice and mual Current Attempt in Progress el cess Splish Co. uses the gross method to record sales made on credit. On June 1, 2020, it made sales of $43,000 with terms 2/15,6/45. On June 12, 2020, Splish received full payment for the June 1 sale. pport Prepare the required journal entries for Splish Co. (If no entry is required, select "No Entry for the account titles and enter...
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