In the books of Suppose Ron's Ltd
Journal entry for interest earned but not received at the end of the year : nov 30
Interest receivable a/c DR $250
TO Interest income a/c CR $250
(Being interest earned but not received)
If any clarification please comment.
Suppose Ron's Ltd. holds a loan receivable from a client. At the end of November, $250...
Suppose Freddy's Ltd. holds a loan receivable from a client. At the end of September, $75 of interest revenue has been earned but not received. Prepare the adjusting entry at September 30. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit Sep. 30
Bob's Repairs Shop's。ice supplies balance is S 1 900 on November 1 and the balance in Office suples expense is so on No ember 3 post the adjusting entry on November 30 for the supplies used Compute the balances of the two accounts involved on November 30 SSO of urple ae on hand Ja 1 e and Journalize the adjusting entry (Record debits first, then credits Exclude explanations from any journal entries.) Journal Entry Debit Credit Date Accounts Nov Choose...
Designer Architects had the following additional information at its November 30, 2017 year-end: a. The Unearned Revenue account showed a balance of $64,000, which represented four months of services paid in advance by a client for services beginning on October 15, 2017. b. The payroll register showed the following unpaid amounts as at November 30: Premium 100.41" Income Taxes 1.310.00 CPP 203.98 Total Deductions 1,614.39 Net Payable ,085.61 Office Salaries 2,700.00 Sales S alaries 2.000.00 3 *These values are based...
Designer Architects had the following additional information at its November 30, 2017 year-end: a. The Uneamed Revenue acount showed a balance of $74,000, which represented four months of services paid in advance by a client for services beginning on October 15, 2017 b. The payroll register showed the following unpaid amounts as at November 30 Premium Taxes 1.410.00 CPP 303.98 Total Deductions .914,39 Net Payable 4,785.61 Olice Salaries ,700.00 1 3 Sales 3.000.00 These values are based on assumed pool...
a. On December 31, 2019, the Notes Receivable account at P. Davis Materials Corporation had a balance of $15,500, which represented a six-month, 12 percent note received from a customer on October 1 b. During the week'ended June 7, 2019, McCormick Media received $39,000 from customers for subscriptions to its magazine Modern Business On December 31, 2019, an analysis of the Unearned Subscription Revenue account showed that half of the subscriptions were earned in 2019. c. On November 1, 2019,...
United Publishing completed the following transactions during 2018 (Click the icon to view the transactions) Joumalize the transactions (explanations are not required) Round to the nearest dolar. (Record debits first, then credits Exclude explanations from journal entries) Oct. 1: Sold a six-month subscription (starting on November 1).collecting cash of $390, plus sales tax of 7%. Prepare a single compound only for this transaction) Date Accounts and Explanation Debit Credit Oct 1 Cash Subsorption Revenue 417 Ilar. (Record debits first, then...
Homework: Homework - Chapter 03 Save 2 of 5 (0 complete) Score: 0 of 2 pts E3-18A (similar to) HW Score: 0%, 0 of 10 pts Question Help Joumalize the adjusting entry needed at May 31, the fiscal year-end, for each of the following independent situations. No other adjusting entries have been made for the year. (Record debits first, then credits. Exclude explanations from anyjournal entries.) Click the icon to view the transactions.) a. On March 1, $4,500 rent was...
Journalize the adjusting entry needed at October 31, the fiscal year-end, for each of the following independent situations. No other adjusting entries have been made for the year. (Record debits first, then credits. Exclude explanations from any journal entries.) (Click the icon to view the transactions.) a. On August 1, $3,600 rent was collected in advance. Cash was debited and Uneamed rent revenue was credited. The tenant was paying six months' rent in advance. Journal Entry Date Accounts Debit Credit...
Suppose a customer rents a vehicle for three months from Commodores Rental on November 1, paying $5,700 ($1,900/month). Required: 1.&2. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the year-end adjusted balances of the Deferred Revenue and Service Revenue accounts (assuming the balance of Deferred Revenue at the beginning of the year is $0). Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal...
On November 30, Petrov Co. has $136,700 of accounts receivable and uses the perpetual inventory system. Dec. 4 Sold $9,850 of merchandise (that had cost $6,384) to customers on credit, terus n/30. 9 Sold $19, 138 of accounts receivable to Main Bank. Main charges a 4% factoring fee. 17 Received $5,418 cash from customers in payment on their accounts. 27 Borrowed $10,936 cash from Main Bank, pledging $14,217 of accounts receivable as security for the loan. (1) Prepare journal entries...