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On March 1, Krauss Corporation accepted a 60-day, 3%. $29,200 note receivable from J. Silverthorn in...
On March 1, Kis Company accepted a 6-day 9%, $21.900 note receivable from J. Peterman in...
On March 1, Kis Company accepted a 6-day 9%, $21.900 note receivable from J. Peterman in exchange for his account receivable. Read the recents Requirement 1. Journalze the transaction on March 1. Record debits first the credits Select the explanation on the last line of the journal entry table. Check your spelling carefully and do not abbreviate except with respect the debtor's name. When entering the debtor's name, enter the name exactly as it is presented in the problem data....
On JuneJune 6, SouthsideSouthside Bank & Trust lent $ 90 comma 000$90,000 to Steve StoneSteve Stone...
On JuneJune 6, SouthsideSouthside Bank & Trust lent $ 90 comma 000$90,000 to Steve StoneSteve Stone on a 6060-day, 66% note. Requirements 1. Journalize for SouthsideSouthside the lending of the money on JuneJune 6. 2. Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. Requirement 1. Journalize for SouthsideSouthside the lending of the money on JuneJune 6. (Record debits first, then credits. Select the explanation on the last line of the...
On October 1, 2024, Kitchen Design paid $15,000 for store rent covering the six-month period ending...
On October 1, 2024, Kitchen Design paid $15,000 for store rent covering the six-month period ending March 31, 2025. Requirements 1. Journalize the entry on October 1 by using the alternative treatment of deferred expenses. 2. Record the December 31, 2024 adjusting entry. Requirement 1. Journalize the entry on October 1 by using the alternative treatment of deferred expenses. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation...
Minnesota Corporation has two classes of stock: common, $2 par value; and preferred, $10 par value....
Minnesota Corporation has two classes of stock: common, $2 par value; and preferred, $10 par value. Requirements 1. Joumalize Minnesota's issuance of 3,000 shares of common stock for $15 per share. 2. Joumalize Minnesota's issuance of 3,000 shares of preferred stock for a total of $30,000 Requirement 1. Journalize Minnesota's issuance of 3,000 shares of common stock for $15 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts...
The Accounts Receivable balance for Pilgrim, Inc. at December 31, 2017, was $24,000. During 2018, Pilgrim...
The Accounts Receivable balance for Pilgrim, Inc. at December 31, 2017, was $24,000. During 2018, Pilgrim earned revenue of $460,000 on account and collected $329,000 on account. Pilgrim wrote off $6,000 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 6% of accounts receivable. Read the requirements Requirement 1. Assume Pilgrim had an unadjusted $2,800 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Pilgrim's December 31, 2018, adjustment to record bad debts expense...
Florida Corporation has two classes of stock common, S4 par value, and preferred, 525 par value....
Florida Corporation has two classes of stock common, S4 par value, and preferred, 525 par value. Requirements 1. Journalize Florida's issuance of 4,500 shares of common stock for $15 per share. 2. Journalize Florida's issuance of 4,500 shares of preferred stock for a total of $112,500. Requirement 1. Journalize Florida's issuance of 4,500 shares of common stock for $15 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts...
Silbert Sullivan Optical Dispensary completed the following transactions during the latter part of March: Mar. 15...
Silbert Sullivan Optical Dispensary completed the following transactions during the latter part of March: Mar. 15 Purchased office supplies on account, $3,800 28 Paid $1,200 on account Read the requirements. Requirement 1. Journalize the transactions of Gilbert Sullivan Optical Dispensary. Include an explanation with each journal entry. (Record debits first, then credits. Select the explanation on the last line of the Journal entry table.) Mar. 15. Purchased office supplies on account, $3,800 Date Accounts and Explanation Debit Credit Mar. 15...
Requirement 3. Joumalize the collection of the principal and interest at maturity. Specify the date. Round...
Requirement 3. Joumalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. (Record debits first, then credits Select the explanation on the last line of the journal entry table Check your spelling carefully and do not abbreviate except with respect to the debtor's name. When entering the debtor's name, enter the name exactly as is presented in the problem data For example: Notes Receivables Johnson. For notes stated in days, use a...
The Accounts Receivable balance for Southside Company at December 31, 2017, was $26,000. During 2018, Southside...
The Accounts Receivable balance for Southside Company at December 31, 2017, was $26,000. During 2018, Southside earned revenue of $459,000 on account and collected $323,000 on account. Southside wrote off $5,800 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 2% of accounts receivable. Read the requirements Requirement 1. Assume Southside had an unadjusted $2,500 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Southside's December 31, 2018, adjustment to record bad debts expense...
Self- Defense Schools, Inc. is authorized to issue 200,000 shares of $4 par common stock. The...
Self- Defense Schools, Inc. is authorized to issue 200,000 shares of $4 par common stock. The company issued 73,000 shares at $6 per share. When the market price of common stock was $8 per share. Self-Defense declared and distributed a 10% stock dividend. Later. Self-Defense declared and paid a $0.60 per share cash dividend Read the requirements Requirement 1. Journalize the declaration and the distribution of the stock dividend. (Record debits first, then credits. Select the explanation on the last...
On March 1, Kis Company accepted a 6-day 9%, $21.900 note receivable from J. Peterman in exchange for his account receivable. Read the recents Requirement 1. Journalze the transaction on March 1. Record debits first the credits Select the explanation on the last line of the journal entry table. Check your spelling carefully and do not abbreviate except with respect the debtor's name. When entering the debtor's name, enter the name exactly as it is presented in the problem data....
On October 1, 2024, Kitchen Design paid $15,000 for store rent covering the six-month period ending March 31, 2025. Requirements 1. Journalize the entry on October 1 by using the alternative treatment of deferred expenses. 2. Record the December 31, 2024 adjusting entry. Requirement 1. Journalize the entry on October 1 by using the alternative treatment of deferred expenses. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation...
Minnesota Corporation has two classes of stock: common, $2 par value; and preferred, $10 par value. Requirements 1. Joumalize Minnesota's issuance of 3,000 shares of common stock for $15 per share. 2. Joumalize Minnesota's issuance of 3,000 shares of preferred stock for a total of $30,000 Requirement 1. Journalize Minnesota's issuance of 3,000 shares of common stock for $15 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts...
The Accounts Receivable balance for Pilgrim, Inc. at December 31, 2017, was $24,000. During 2018, Pilgrim earned revenue of $460,000 on account and collected $329,000 on account. Pilgrim wrote off $6,000 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 6% of accounts receivable. Read the requirements Requirement 1. Assume Pilgrim had an unadjusted $2,800 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Pilgrim's December 31, 2018, adjustment to record bad debts expense...
Florida Corporation has two classes of stock common, S4 par value, and preferred, 525 par value. Requirements 1. Journalize Florida's issuance of 4,500 shares of common stock for $15 per share. 2. Journalize Florida's issuance of 4,500 shares of preferred stock for a total of $112,500. Requirement 1. Journalize Florida's issuance of 4,500 shares of common stock for $15 per share. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts...
Silbert Sullivan Optical Dispensary completed the following transactions during the latter part of March: Mar. 15 Purchased office supplies on account, $3,800 28 Paid $1,200 on account Read the requirements. Requirement 1. Journalize the transactions of Gilbert Sullivan Optical Dispensary. Include an explanation with each journal entry. (Record debits first, then credits. Select the explanation on the last line of the Journal entry table.) Mar. 15. Purchased office supplies on account, $3,800 Date Accounts and Explanation Debit Credit Mar. 15...
Requirement 3. Joumalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. (Record debits first, then credits Select the explanation on the last line of the journal entry table Check your spelling carefully and do not abbreviate except with respect to the debtor's name. When entering the debtor's name, enter the name exactly as is presented in the problem data For example: Notes Receivables Johnson. For notes stated in days, use a...
The Accounts Receivable balance for Southside Company at December 31, 2017, was $26,000. During 2018, Southside earned revenue of $459,000 on account and collected $323,000 on account. Southside wrote off $5,800 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 2% of accounts receivable. Read the requirements Requirement 1. Assume Southside had an unadjusted $2,500 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Southside's December 31, 2018, adjustment to record bad debts expense...
Self- Defense Schools, Inc. is authorized to issue 200,000 shares of $4 par common stock. The company issued 73,000 shares at $6 per share. When the market price of common stock was $8 per share. Self-Defense declared and distributed a 10% stock dividend. Later. Self-Defense declared and paid a $0.60 per share cash dividend Read the requirements Requirement 1. Journalize the declaration and the distribution of the stock dividend. (Record debits first, then credits. Select the explanation on the last...
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