On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Credit...
On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Credit Debit $ 25,100 46,200 $ 4,200 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) Common Stock Retained Earnings 20,000 46,000 15,000 1,500 28,500 50,000 35,000 33,100 $152,300 Totals $152,300 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $8,000. The cards are redeemable for merchandise within...
Clooney Corp
Required information On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Credit Debit $ 25,100 46,200 $ 4,200 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) Common Stock Retained Earnings Totals 20,000 46,000 15,000 1,500 28,500 50,000 35,000 33, 100 $152,300 $152,300 During January 2021, the following transactions occur January 2 Sold gift cards totaling $8,000. The cards...
On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Credit Debit $ 25, 100 46,200 $ 4,200 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) Common Stock Retained Earnings 20,000 46,000 15,000 че 1,500 28,500 50,000 35,000 33,100 $152,300 Totals $152,300 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $8,000. The cards are redeemable for...
On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Accounts Debit Credit Cash $ 25,300 Accounts Receivable 46,600 Allowance for Uncollectible Accounts $ 4,400 Inventory 20,200 Land 48,000 Equipment 16,500 Accumulated Depreciation 1,700 Accounts Payable 28,700 Notes Payable (6%, due April 1, 2022) 52,000 Common Stock 37,000 Retained Earnings 32,800 Totals $ 156,600 $ 156,600 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $8,400. The cards are redeemable for...
On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Debit Credit Accounts $ 25,100 46,200 $ 20,000 46,000 15,000 Cash Accounts Receivable Allowance for Uncollectible Accounts 4,200 Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) 1,500 28,500 50,000 35,000 Common Stock Retained Earnings 33,100 $152,300 $152,300 Totals During January 2021, the following transactions occur: 2 Sold gift cards totaling $8,000. The cards are redeemable for merchandise within one...
On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Credit Debit $ 25,100 46,200 $ 4,200 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) Common Stock Retained Earnings 20,000 46,000 15,000 1,500 28,500 50,000 35,000 33,100 $152,300 Totals $152,300 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $8,000. The cards are redeemable for merchandise within...
On January 1, 2021, the general ledger of ACME Fireworks
includes the following account balances:
Accounts
Debit
Credit
Cash
$
25,100
Accounts Receivable
46,200
Allowance for Uncollectible Accounts
$
4,200
Inventory
20,000
Land
46,000
Equipment
15,000
Accumulated Depreciation
1,500
Accounts Payable
28,500
Notes Payable (6%, due April 1, 2022)
50,000
Common Stock
35,000
Retained Earnings
33,100
Totals
$
152,300
$
152,300
During January 2021, the following transactions occur:
January
2
Sold gift cards totaling $8,000. The cards are redeemable for...
On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Debit Credit Accounts $25,100 46,200 $ 20,000 46,000 15,000 Cash Accounts Receivable Allowance for Uncollectible Accounts 4,200 Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) 1,500 28,500 50,000 35,000 Common Stock Retained Earnings 33,100 $152,300 $152,300 Totals During January 2021, the following transactions occur: 2 Sold gift cards totaling $8,000. The cards are redeemable for merchandise within one year...
On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Debit Credit Accounts $ 25,100 46,200 $ Cash Accounts Receivable Allowance for Uncollectible Accounts 4,200 20,000 46,000 15,000 Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) 1,500 28,500 50,000 35,000 33,100 Common Stock Retained Earnings $152,300 $152,300 Totals During January 2021, the following transactions occur: 2 Sold gift cards totaling $8,000. The cards are redeemable for merchandise within one...
Required information[The following information applies to the questions displayed below.]On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: AccountsDebitCreditCash$26,600Accounts Receivable49,200Allowance for Uncollectible Accounts$5,700Inventory21,500Land61,000Equipment22,500Accumulated Depreciation3,000Accounts Payable30,000Notes Payable (6%, due April 1, 2022)65,000Common Stock50,000Retained Earnings27,100Totals$180,800$180,800 During January 2021, the following transactions occur: January2Sold gift cards totaling $11,000. The cards are redeemable for merchandise within one year of the purchase date.January6Purchase additional inventory on account, $162,000.January15Firework sales for the first half of the month total $150,000. All of these sales...