Homework Answers
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| Jan 1 | Prepaid rent | 20200 | |
| Cash | 20200 |
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On January 1, Power House Co. prepaid the annual rent of $20,200. Prepare the journal entry...
On January 1, Power House Co. prepaid the annual rent of $18,200. Prepare the journal entry...
On January 1, Power House Co. prepaid the annual rent of $18,200. Prepare the journal entry to record this transaction. If an amount box does not require an entry, leave it blank. Jan. 1 Accounts Payable Cash Prepaid Rent Rent Expense Rent Revenue
On September 1, Erika Company purchased land for $47,500 cash. Provide the journal entry for this...
On September 1, Erika Company purchased land for $47,500 cash. Provide the journal entry for this transaction. If an amount box does not require an entry, leave it blank. Sept. 1 Accounts Payable Accounts Receivable Cash Land Rent Expense
On January 7, stockholders invest $45,000 in JumpStart in exchange for common stock. Provide the journal...
On January 7, stockholders invest $45,000 in JumpStart in exchange for common stock. Provide the journal entry for this transaction. If an amount box does not require an entry, leave it blank. Jan. 7 Accounts Payable Accounts Receivable Cash Common Stock Retained Earnings
Prepare a journal entry for the purchase of a truck on April 4 for $63,330, paying...
Prepare a journal entry for the purchase of a truck on April 4 for $63,330, paying $4,300 cash and the remainder on account. If an amount box does not require an entry, leave it blank. April 4 Accounts Payable Accounts Receivable Equipment Equipment Expense Retained earnings
Petty Cash Fund Prepare journal entries for each of the following. For a compound transaction, if...
Petty Cash Fund Prepare journal entries for each of the following. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Issued a check to establish a petty cash fund of $450. b. The amount of cash in the petty cash fund is $140. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $182 and miscellaneous selling expense, $115. Record any missing funds in...
Estimated Warranty Liability Cook-Rite Co. sold $687,000 of equipment during January under a six-month warranty. The...
Estimated Warranty Liability Cook-Rite Co. sold $687,000 of equipment during January under a six-month warranty. The cost to repair defects under the warranty is estimated at 7.5% of the sales price. On August 15, a customer required a $213 part replacement, plus $186 of labor under the warranty Required: (a) Provide the journal entry for the estimated warranty expense on January 31 for January sales Jan. 31 L U C (b) Provide the journal entry for the August 15 warranty...
Adjustment fot Accrued Expense Joos Realty Co. pays weekly salaries of $20,250 on Monday for a...
Adjustment fot Accrued Expense
Joos Realty Co. pays weekly salaries of $20,250 on Monday for
a six-day workwook ending the preceding Saturday.
Journalize the necessary adjusting entry at the end of the
accounting period, assuminh that the period ends on Friday. Round
your answers to nearest whole dollar. of an amount box does not
require an entry, leave it blank.
Adjustment for Accrued Expense Joos Realty Co. pays weekly salaries of $20,250 on Monday for a six-day workweek ending the...
Record journal entries for the following transactions. a. On December 1, $11,450 was received for a...
Record journal entries for the following transactions. a. On December 1, $11,450 was received for a service contract to be performed from December 1 through April 30. If an amount box does not require an entry, leave it blank. Dec. 1 b. Assuming the work is performed evenly throughout the contract period, prepare the adjusting journal entry on December 31. If an amount box does not require an entry, leave it blank. Dec. 31 Accounts Payable Accounts Receivable Cash Fees...
Record journal entries for the following transactions. a. On December 1, $11,550 was received for a...
Record journal entries for the following transactions. a. On December 1, $11,550 was received for a service contract to be performed from December 1 through April 30. If an amount box does not require an entry, leave it blank. Dec. 1 b. Assuming the work is performed evenly throughout the contract period, prepare the adjusting journal entry on December 31. If an amount box does not require an entry, leave it blank. Dec. 31 Accounts Payable Accounts Receivable Cash Fees...
On January 1, the Newman Company estimated its property tax to be $4,440 for the year....
On January 1, the Newman Company estimated its property tax to be $4,440 for the year. a. How much should the company accrue each month for property taxes? S b. Calculate the balance in Property Tax Payable as of August 31. C. Prepare the adjusting journal entry for September. If an amount box does not require an entry, leave it blank. Accounts Receivable Cash Prepaid Property Tax Property Tax Expense Property Tax Payable
On January 1, Power House Co. prepaid the annual rent of $18,200. Prepare the journal entry to record this transaction. If an amount box does not require an entry, leave it blank. Jan. 1 Accounts Payable Cash Prepaid Rent Rent Expense Rent Revenue
On September 1, Erika Company purchased land for $47,500 cash. Provide the journal entry for this transaction. If an amount box does not require an entry, leave it blank. Sept. 1 Accounts Payable Accounts Receivable Cash Land Rent Expense
On January 7, stockholders invest $45,000 in JumpStart in exchange for common stock. Provide the journal entry for this transaction. If an amount box does not require an entry, leave it blank. Jan. 7 Accounts Payable Accounts Receivable Cash Common Stock Retained Earnings
Prepare a journal entry for the purchase of a truck on April 4 for $63,330, paying $4,300 cash and the remainder on account. If an amount box does not require an entry, leave it blank. April 4 Accounts Payable Accounts Receivable Equipment Equipment Expense Retained earnings
Estimated Warranty Liability Cook-Rite Co. sold $687,000 of equipment during January under a six-month warranty. The cost to repair defects under the warranty is estimated at 7.5% of the sales price. On August 15, a customer required a $213 part replacement, plus $186 of labor under the warranty Required: (a) Provide the journal entry for the estimated warranty expense on January 31 for January sales Jan. 31 L U C (b) Provide the journal entry for the August 15 warranty...
Adjustment fot Accrued Expense
Joos Realty Co. pays weekly salaries of $20,250 on Monday for
a six-day workwook ending the preceding Saturday.
Journalize the necessary adjusting entry at the end of the
accounting period, assuminh that the period ends on Friday. Round
your answers to nearest whole dollar. of an amount box does not
require an entry, leave it blank.
Adjustment for Accrued Expense Joos Realty Co. pays weekly salaries of $20,250 on Monday for a six-day workweek ending the...
Record journal entries for the following transactions. a. On December 1, $11,450 was received for a service contract to be performed from December 1 through April 30. If an amount box does not require an entry, leave it blank. Dec. 1 b. Assuming the work is performed evenly throughout the contract period, prepare the adjusting journal entry on December 31. If an amount box does not require an entry, leave it blank. Dec. 31 Accounts Payable Accounts Receivable Cash Fees...
Record journal entries for the following transactions. a. On December 1, $11,550 was received for a service contract to be performed from December 1 through April 30. If an amount box does not require an entry, leave it blank. Dec. 1 b. Assuming the work is performed evenly throughout the contract period, prepare the adjusting journal entry on December 31. If an amount box does not require an entry, leave it blank. Dec. 31 Accounts Payable Accounts Receivable Cash Fees...
On January 1, the Newman Company estimated its property tax to be $4,440 for the year. a. How much should the company accrue each month for property taxes? S b. Calculate the balance in Property Tax Payable as of August 31. C. Prepare the adjusting journal entry for September. If an amount box does not require an entry, leave it blank. Accounts Receivable Cash Prepaid Property Tax Property Tax Expense Property Tax Payable
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