Homework Answers
| Date | Account Titles & Explanation | Debit | Credit |
| 1-Apr | Notes receivable | $ 20,000.00 | |
| Cash | $ 20,000.00 | ||
| To Lend cash to Varner Agencies | |||
| 1-Oct | Cash | $ 21,000.00 | |
| Notes receivable | $ 20,000.00 | ||
| Interest Revenue (20000 x 10% x 6/12 months) | $ 1,000.00 | ||
| (To collect note plus interest) | |||
| 30-Nov | Notes receivable | $ 15,000.00 | |
| Cash | $ 15,000.00 | ||
| To Lend cash to Fame Industries | |||
| 31-Dec | Interest Receivables (15000 x 12% x 1/12 months) | $ 150.00 | |
| Interest Revenue | $ 150.00 | ||
| (To record accrued interest income from fame industries) | |||
| 28-Feb | Cash | $ 15,450.00 | |
| Notes receivable | $ 15,000.00 | ||
| Interest Receivables(15000 x 12% x 1/12 months) | $ 150.00 | ||
| Interest Revenue (15000 x 12% x 2/12 months) | $ 300.00 | ||
| (To collect note plus interest) | |||
Add Answer to:
Please help me with following accounting question. Will give
good rating! thank you in advance
Question...
if you could help me with #3 please. thank you The following transactions occurred during December...
if you could help me with #3 please. thank you
The following transactions occurred during December 31, 2021, for the Microchip Company. 1. On October 1, 2021, Microchip lent $87,000 to another company. A note was signed with principal and 8% interest to be paid on September 30, 2022. 2. On November 1, 2021, the company paid its landlord $8,400 representing rent for the months of November through January. Prepaid rent was debited. 3. On August 1, 2021, collected $14,400...
Pleaee help me with the above accounting question, both a & b will give good rating...
Pleaee help me with the above accounting question, both a & b
will give good rating ! thank you in advance :)
Question 2: Macaroon Corporation's capital structure consists of 20,000 common shares. At December 31, 2017 an analysis of the accounts and discussions with company officials revealed the following information: $1,200,000 18,000 Sales Sales discounts Cost of sales 747,000 Selling expenses 60,000 Accounts receivable 128,000 Cash 90,000 Common shares 200,000 Accumulated depreciation 180,000 Dividend revenue 18,000 Inventory, December 31,...
Hi, please help with the question below. Make sure you follow the three requirements: 1. Answer...
Hi, please help with the question below. Make sure you follow
the three requirements:
1. Answer the question only in the case that you can make sure
you would answer them all
2. Choose the title for each column from my picture (I have
posted the options for you, so just choose it, don't make it up by
yourself)
3. Strictly follow the format of the chart below to answer the
question.
The following transactions of Penny and Dime Marine...
Hi, please help with the below question. I have posted the option that you can choose...
Hi, please help with the below question. I have posted the
option that you can choose for the column, and make sure you follow
the format as been listed in the chart below! Only answer the
question in the case that you can make sure you would answer them
all! Thank you!
The following transactions of Penny and Dime Marine Supply occurred during 2018 and 2019: (Click the icon to view the transactions.) Requirement 1. Record the transactions in the...
Glencoe Inc. operates with a June 30 year-end. During 2017, the following transactions occurred: January 1:...
Glencoe Inc. operates with a June 30 year-end. During 2017, the following transactions occurred: January 1: Signed a one-year, 10% loan for $25,000. Interest and principal are to be paid at maturity. January 10: Signed a line of credit with Little Local Bank to establish a $400,000 line of credit. Interest of 9% will be charged on all borrowed funds. February 1: Issued a $20,000 non-interest-bearing, six-month note to pay for a new machine. Interest on the note, at 12%,...
Question 5 An example of an adjusting entry is the payment of rent in advance. the...
Question 5 An example of an adjusting entry is the payment of rent in advance. the return of defective inventory. the payment of wages that have been accrued. the accruing of interest expense. collection of an accounts receivable. 1 points Question 6 Table 4-2 Urban Corporation had the following transactions during April: 1. The company paid $1,800 for 3 months' rent in advance on April 1. 2. The company received $800 in advance on April 1 from Wente Company for...
Score: 0 of 2 pts 3 of 4 (1 complete) P9-38A (similar to) The following transactions...
Score: 0 of 2 pts 3 of 4 (1 complete) P9-38A (similar to) The following transactions of Denver Marine Supply occurred during 2018 and 2019: i (Click the icon to view the transactions.) Requirement 1. Record the transactions in the company's journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries. Round amounts to the nearest whole dollar.) Begin by journalizing the 2018 transactions, starting with the purchase of equipment on February 3, Feb...
Please help me solve all the Requirements problems 1,2,3,4,5,6, and 8. Please give clear details and...
Please help me solve all the Requirements problems
1,2,3,4,5,6, and 8.
Please give clear details and explanations. Please label each
requirement with the solution.
Thank you, have a wonderful day!
The Tusquittee Company is a retail company that began operations on October 1, 2018, when it incorporated in the state of North Carolina. The Tusquittee Company is authorized to issue 100,000 shares of $1 par value common stock and 50,000 shares of 5%, $50 par value preferred stock. The company...
Hello could you help me solve this accounting 1 question asap ? The last photo is...
Hello could you help me solve this accounting 1 question asap
?
The last photo is the requirements
Bennington, Inc., collects cash from customers in advance and from other customers after the sale. Read the requirement a. Journalize Bennington earning service revenue of $15,000 on account and then collecting $14,000 on account. (Record debits first, then credits Exclude explanations from any journal entries.) Start by recording Bennington earning $15,000 of service revenue on account. Journi Entry Date Accounts Debit Credit...
Advance Accounting- Please assist me with these journal entries. Thank you so much AMGC is a...
Advance Accounting- Please assist me with these journal entries. Thank you so much AMGC is a consulting firm that also offers financial services through its credit division From time to time the company buys and sells securities inending to earn profits on short term differences in price . The following selected to AMGC...
if you could help me with #3 please. thank you
The following transactions occurred during December 31, 2021, for the Microchip Company. 1. On October 1, 2021, Microchip lent $87,000 to another company. A note was signed with principal and 8% interest to be paid on September 30, 2022. 2. On November 1, 2021, the company paid its landlord $8,400 representing rent for the months of November through January. Prepaid rent was debited. 3. On August 1, 2021, collected $14,400...
Pleaee help me with the above accounting question, both a & b
will give good rating ! thank you in advance :)
Question 2: Macaroon Corporation's capital structure consists of 20,000 common shares. At December 31, 2017 an analysis of the accounts and discussions with company officials revealed the following information: $1,200,000 18,000 Sales Sales discounts Cost of sales 747,000 Selling expenses 60,000 Accounts receivable 128,000 Cash 90,000 Common shares 200,000 Accumulated depreciation 180,000 Dividend revenue 18,000 Inventory, December 31,...
Hi, please help with the question below. Make sure you follow
the three requirements:
1. Answer the question only in the case that you can make sure
you would answer them all
2. Choose the title for each column from my picture (I have
posted the options for you, so just choose it, don't make it up by
yourself)
3. Strictly follow the format of the chart below to answer the
question.
The following transactions of Penny and Dime Marine...
Hi, please help with the below question. I have posted the
option that you can choose for the column, and make sure you follow
the format as been listed in the chart below! Only answer the
question in the case that you can make sure you would answer them
all! Thank you!
The following transactions of Penny and Dime Marine Supply occurred during 2018 and 2019: (Click the icon to view the transactions.) Requirement 1. Record the transactions in the...
Score: 0 of 2 pts 3 of 4 (1 complete) P9-38A (similar to) The following transactions of Denver Marine Supply occurred during 2018 and 2019: i (Click the icon to view the transactions.) Requirement 1. Record the transactions in the company's journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries. Round amounts to the nearest whole dollar.) Begin by journalizing the 2018 transactions, starting with the purchase of equipment on February 3, Feb...
Please help me solve all the Requirements problems
1,2,3,4,5,6, and 8.
Please give clear details and explanations. Please label each
requirement with the solution.
Thank you, have a wonderful day!
The Tusquittee Company is a retail company that began operations on October 1, 2018, when it incorporated in the state of North Carolina. The Tusquittee Company is authorized to issue 100,000 shares of $1 par value common stock and 50,000 shares of 5%, $50 par value preferred stock. The company...
Hello could you help me solve this accounting 1 question asap
?
The last photo is the requirements
Bennington, Inc., collects cash from customers in advance and from other customers after the sale. Read the requirement a. Journalize Bennington earning service revenue of $15,000 on account and then collecting $14,000 on account. (Record debits first, then credits Exclude explanations from any journal entries.) Start by recording Bennington earning $15,000 of service revenue on account. Journi Entry Date Accounts Debit Credit...
Most questions answered within 3 hours.
-
1. What is the present value of $400, three years in the future
if the interest...
asked 22 seconds ago -
The labor force minus the number of employed equals the number
of unemployed.
a. True
b....
asked 2 hours ago -
Determine the mass in units of grams [g] of 0.49 moles [mol]
of a new fictitious...
asked 2 hours ago -
A horizontal mass of M=5kg is on a spring and stretched to
x=0.5m when released from...
asked 3 hours ago -
26 of 50
"I have worked at the Arizona Humane Society for ten years, and
have...
asked 4 hours ago -
Compare and contrast zero based budgeting and incremental (or
base year) budgeting.
asked 4 hours ago -
4 pts 10. Which of the following hypothesis would be MOST
difficult to test experimentally? Group...
asked 4 hours ago -
A business owner makes 1,000 items a day. Each day he or she
contributes eight hours...
asked 4 hours ago -
A
circular loop in the plane of a paper lies inca0.65 T magnetic
field pointing into...
asked 4 hours ago -
A business owner is trying to decide whether to buy, rent, or
lease office space and...
asked 4 hours ago -
Thermal Storage Solar heating of a house is much more efficient
if there is a way...
asked 4 hours ago -
Considering the “fits” for group and job design dimensions,
suppose you had 12 employees with different...
asked 4 hours ago