Rent payment of $1,250 for January 2021, which was paid on December 1, 2020, expires Record...
Rent payment of $1,250 for January 2021, which was paid on
December 1,
2020, expires
Record the journal entry.
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Rent payment of $1,250 for January 2021, which was paid on
December 1,
2020, expires
Record...
2- Record the payment of the first installment payment of interest and principal on December 31, 2018. 3- Record the pa...
2- Record the payment of the first installment payment of
interest and principal on December 31, 2018.
3- Record the payment of the second installment payment of
interest and principal on December 31, 2019.
4- Record the payment of the third installment payment of
interest and principal on December 31, 2020.
5- Record the payment of the fourth installment payment of
interest and principal on December 31, 2021.
On January 1, 2018, Eagle borrows $35,000 cash by signing a four-year,...
On November 1, 2021, the company paid its landlord $9,600 representing rent for the months of...
On November 1, 2021, the company paid its landlord $9,600 representing rent for the months of November through January. Prepaid rent was debited. < 1 2 3 4 5 6 On November 1, 2021, the company paid its landlord $9,600 representing rent for the months of November through January. Prepaid rent was debited. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general jour Journal entry worksheet < 2 3 5 6 >...
need help with this: During 2021, the following transactions occurred: Jan. 1 Issued common stock in...
need help with this: During 2021, the following transactions occurred: Jan. 1 Issued common stock in exchange for $20,000 cash. Jan. 31 Rent payment of $1,250 for January 2021, which was paid on December 1, 2020, expires Feb. 15 Purchased inventory on account for $80,000 (the perpetual inventory system is used). Mar. 1 Lent a supplier $24,000 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022. Apr. 1 Paid an insurance...
Below are transactions for Wolverine Company during 2021. 1. On December 1, 2021, Wolverine receives $4,000...
Below are transactions for Wolverine Company during 2021. 1. On December 1, 2021, Wolverine receives $4,000 cash from a company that is renting office space from Wolverine. The payment, representing rent for December and January, is credited to Deferred Revenue. 2. Wolverine purchases a one-year property insurance policy on July 1, 2021, for $13,200. The payment is debited to Prepaid Insurance for the entire amount 3. Employee salaries of $3,000 for the month of December will be paid in early...
Required: Record the necessary adjusting entries at December 31, 2021, for Hurricane Company for each of...
Required: Record the necessary adjusting entries at December 31, 2021, for Hurricane Company for each of the situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Journal entry worksheet 1. On October 1, 2021, Hurricane lends $7,700 to another company. The other company signs a note indicating principal...
Prepare general journal entries to record each transaction. Omit explanations. Pastina Company manufactures and sells various...
Prepare general journal entries to record each transaction. Omit
explanations.
Pastina Company manufactures and sells various types of pasta to grocery chains as private label brands. The company's fiscal year-end is December 31. The December 31, 2020 trial balance is as follows: Credits PASTINA COMPANY Trial Balance December 31, 2020 Account Title Debits Cash $ 24,550 Accounts receivable 22,000 Supplies 1,400 Inventory 68,000 Prepaid rent 1,250 Office equipment 92,000 Accumulated depr.-office equipment Accounts payable Salaries payable Common stock Retained earnings...
The following transactions occurred during December 31, 2021, for the Falwell Company. 1. A three-year fire...
The following transactions occurred during December 31, 2021, for the Falwell Company. 1. A three-year fire insurance policy was purchased on July 1, 2021, for $11,520. The company debited insurance expense for the entire amount 2. Depreciation on equipment totaled $11,750 for the year, 3. Employee salaries of $15,500 for the month of December will be paid in early January 2022. 4. On November 1, 2021, the company borrowed $170,000 from a bank. The note requires principal and interest at...
On January 1, 2021, JUNE Enterprises issued 10% bonds dated January 1, 2021, with a face...
On January 1, 2021, JUNE Enterprises issued 10% bonds dated January 1, 2021, with a face amount of $19.0 million. The bonds mature in 2030 (10 years). For bonds of similar risk and maturity, the market yield is 8%. Interest is paid semiannually on June 30 and December 31. Required: 1. Determine the price of the bonds at January 1, 2021. 2. Prepare the journal entry to record the bond issuance by Mania on January 1, 2021. 3. Prepare the...
Exercise 3-12A Record year-end adjusting entries (LO3-3) Below are transactions for Wolverine Company during 2021. 1....
Exercise 3-12A Record year-end adjusting entries (LO3-3) Below are transactions for Wolverine Company during 2021. 1. On December 1, 2021, Wolverine receives $3,600 cash from a company that is renting office space from Wolverine. The payment, representing rent for December and January, is credited to Deferred Revenue. 2. Wolverine purchases a one-year property insurance policy on July 1, 2021, for $12,720. The payment is debited to Prepaid Insurance for the entire amount 3. Employee salaries of $2,600 for the month...
Help Save & El Check 1. On December 10, 2021, Jamesway received a $5,800 payment from...
Help Save & El Check 1. On December 10, 2021, Jamesway received a $5,800 payment from a customer for services begun on that date and which were completed by December 31, 2021. Deferred service revenue was credited. 2. On December 1, 2021, the company paid a local radio station $5,600 for 40 radio ads that were to be aired, 20 per month, throughout December and January. Prepaid advertising was debited. 3. Employee salaries for the month of December totaling $34,000...
2- Record the payment of the first installment payment of
interest and principal on December 31, 2018.
3- Record the payment of the second installment payment of
interest and principal on December 31, 2019.
4- Record the payment of the third installment payment of
interest and principal on December 31, 2020.
5- Record the payment of the fourth installment payment of
interest and principal on December 31, 2021.
On January 1, 2018, Eagle borrows $35,000 cash by signing a four-year,...
On November 1, 2021, the company paid its landlord $9,600 representing rent for the months of November through January. Prepaid rent was debited. < 1 2 3 4 5 6 On November 1, 2021, the company paid its landlord $9,600 representing rent for the months of November through January. Prepaid rent was debited. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general jour Journal entry worksheet < 2 3 5 6 >...
Below are transactions for Wolverine Company during 2021. 1. On December 1, 2021, Wolverine receives $4,000 cash from a company that is renting office space from Wolverine. The payment, representing rent for December and January, is credited to Deferred Revenue. 2. Wolverine purchases a one-year property insurance policy on July 1, 2021, for $13,200. The payment is debited to Prepaid Insurance for the entire amount 3. Employee salaries of $3,000 for the month of December will be paid in early...
Required: Record the necessary adjusting entries at December 31, 2021, for Hurricane Company for each of the situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Journal entry worksheet 1. On October 1, 2021, Hurricane lends $7,700 to another company. The other company signs a note indicating principal...
Prepare general journal entries to record each transaction. Omit
explanations.
Pastina Company manufactures and sells various types of pasta to grocery chains as private label brands. The company's fiscal year-end is December 31. The December 31, 2020 trial balance is as follows: Credits PASTINA COMPANY Trial Balance December 31, 2020 Account Title Debits Cash $ 24,550 Accounts receivable 22,000 Supplies 1,400 Inventory 68,000 Prepaid rent 1,250 Office equipment 92,000 Accumulated depr.-office equipment Accounts payable Salaries payable Common stock Retained earnings...
The following transactions occurred during December 31, 2021, for the Falwell Company. 1. A three-year fire insurance policy was purchased on July 1, 2021, for $11,520. The company debited insurance expense for the entire amount 2. Depreciation on equipment totaled $11,750 for the year, 3. Employee salaries of $15,500 for the month of December will be paid in early January 2022. 4. On November 1, 2021, the company borrowed $170,000 from a bank. The note requires principal and interest at...
Exercise 3-12A Record year-end adjusting entries (LO3-3) Below are transactions for Wolverine Company during 2021. 1. On December 1, 2021, Wolverine receives $3,600 cash from a company that is renting office space from Wolverine. The payment, representing rent for December and January, is credited to Deferred Revenue. 2. Wolverine purchases a one-year property insurance policy on July 1, 2021, for $12,720. The payment is debited to Prepaid Insurance for the entire amount 3. Employee salaries of $2,600 for the month...
Help Save & El Check 1. On December 10, 2021, Jamesway received a $5,800 payment from a customer for services begun on that date and which were completed by December 31, 2021. Deferred service revenue was credited. 2. On December 1, 2021, the company paid a local radio station $5,600 for 40 radio ads that were to be aired, 20 per month, throughout December and January. Prepaid advertising was debited. 3. Employee salaries for the month of December totaling $34,000...
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