Homework Answers
Adjusting entry
| Date | Accounts and explanation | Debit | Credit |
|
2024 Dec 31 (adj) |
Bad debt expense (460000*3%) | 13800 | |
| Allowance for doubtful accounts | 13800 | ||
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Beta Watches completed the following selected transactions during 2024 and 2025 Click the icon to view...
Dialex Watches completed the flowing selected transactions during 2004 and 2025 (Click the icon to view...
Dialex Watches completed the flowing selected transactions during 2004 and 2025 (Click the icon to view the transactions) Read the requirements Requirement 1. The Taccounts for Allowance for Bad Debts and Bad Debts Expense have been spened for you, assuming the accounts begin with a zero balance. Record the transactions in the general journal (amit explanations), and post to the two Taccounts. Record debits first, the credits. Exclude explorations from ſound entries Abbreviations used Ad Adjusting entry, Clos. Closing entry,...
Gitter Watches completed the following selected transactions during 2018 and 2019 1 (Click the ic...
Gitter Watches completed the following selected transactions during 2018 and 2019 1 (Click the icon to view the transactions.) Read the requirements Dec. 31: Made the closing entry for bad debts expense. Date 2019 Dec. 31 (Clos.) Accounts and Explanation DebitCredit Now post the transactions to the two T-accounts (Enter OT on the normal side of the account for any zero balances ) Review the journal entries Allowance for Bad Debts Bad Debts Expense Choose from any lst or enter...
Vermont Auto Parts, Inc., completed the following selected transactions during 2018: i (Click the icon to...
Vermont Auto Parts, Inc., completed the following selected transactions during 2018: i (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record the transactions in the journal and post to the Allowance for uncollectible accounts and Bad debt expense ledger accounts that have been opened for you. These accounts have beginning balances of $1,700 (cr.) and $0, respectively. Remember to update account balances but ignore posting references Begin by recording the transactions in the journal. (Record debits...
Requirements 1. The T-accounts for Allowance for Bad Debts and Bad Debts Expense have been opened...
Requirements 1. The T-accounts for Allowance for Bad Debts and Bad Debts Expense have been opened for you, assuming the accounts begin with a zero balance. Record the transactions in the general journal (omit explanations), and post to the two T-accounts. 2. Assume the December 31, 2019, balance of Accounts Receivable is $135,000. Show how net accounts receivable would be reported on the balance sheet at that date. More Info - X 2018 Dec. 31 Estimated that bad debts expense...
Jungle Publishing completed the following transactions for one subscriber during 2018: (Click the icon to view...
Jungle Publishing completed the following transactions for one subscriber during 2018: (Click the icon to view the transactions.) Requirement 1. Journalize these transactions (explanations not required). Then report any liability on the company's balance sheet at December 31, 2018. (Record debits first, then credits. Exclude explanations from journal entries.) Start by journalizing the October 1st transaction. Recall Jungle Publishing sold a one-year subscription, collecting cash of $2,000, plus sales tax of 12%. Journal Entry Accounts Date Debit Credit Oct Next,...
McNight Industries completed the following transactions during 2018: (Click the icon to view the transactions.) Journalize...
McNight Industries completed the following transactions during 2018: (Click the icon to view the transactions.) Journalize the transactions. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Nov. 1: Made sales of $52,000. McNight estimates that warranty expense is 6% of sales. (Record only the warranty expense.) Date Accounts Debit Credit Nov. 1 Nov. 1 Made sales of $52,000. McNight estimates that warranty expense is 6% of sales. (Record only...
United Publishing completed the following transactions during 2018 (Click the icon to view the transactions) Joumalize...
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...
Mass Delivery Service completed the following transactions during December 2018: (Click the icon to view the...
Mass Delivery Service completed the following transactions during December 2018: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record each transaction in the journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Dec. 1: Mass Delivery Service began operations by receiving $15,000 cash and a truck with a fair value of $17,000 from Ripley Mass. The business gave Mass capital in exchange for this contribution. Credit Date Accounts Debit Cash...
Cabbage White Map Company's balance sheet at December 31, 2017, reported the following (Click the icon...
Cabbage White Map Company's balance sheet at December 31, 2017, reported the following (Click the icon to view the data) Read the requirements Requirement 1. How much of the receivables did Cabbage White expect to collect Stated differently, what was the net realizabie value of these receivable? The net realizable value of these receivables is SL Requirement 2. Joumalize, without explanations, 2018 entries for Cabbage White and post to the Accounts Receivable and Allowance for Bad Debts T-accounts Begin with...
Question Help The following transactions of Sandy Crus occurred during 2018 Click the icon to view...
Question Help The following transactions of Sandy Crus occurred during 2018 Click the icon to view the transachons) Requirements 1. Journalize required transactions, any, in Cur's general journal. Explanations are not required 2. What is the balance in Estimated Warranty Payable assuming a beginning balance of 507 Requirement 1. Journal required transactions, if any, in Cur's general joumal Explanations are not required. Record debitis fint, then credits. Exclude not require an entry, make sure to select "No entry required in...
Dialex Watches completed the flowing selected transactions during 2004 and 2025 (Click the icon to view the transactions) Read the requirements Requirement 1. The Taccounts for Allowance for Bad Debts and Bad Debts Expense have been spened for you, assuming the accounts begin with a zero balance. Record the transactions in the general journal (amit explanations), and post to the two Taccounts. Record debits first, the credits. Exclude explorations from ſound entries Abbreviations used Ad Adjusting entry, Clos. Closing entry,...
Gitter Watches completed the following selected transactions during 2018 and 2019 1 (Click the icon to view the transactions.) Read the requirements Dec. 31: Made the closing entry for bad debts expense. Date 2019 Dec. 31 (Clos.) Accounts and Explanation DebitCredit Now post the transactions to the two T-accounts (Enter OT on the normal side of the account for any zero balances ) Review the journal entries Allowance for Bad Debts Bad Debts Expense Choose from any lst or enter...
Vermont Auto Parts, Inc., completed the following selected transactions during 2018: i (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record the transactions in the journal and post to the Allowance for uncollectible accounts and Bad debt expense ledger accounts that have been opened for you. These accounts have beginning balances of $1,700 (cr.) and $0, respectively. Remember to update account balances but ignore posting references Begin by recording the transactions in the journal. (Record debits...
Requirements 1. The T-accounts for Allowance for Bad Debts and Bad Debts Expense have been opened for you, assuming the accounts begin with a zero balance. Record the transactions in the general journal (omit explanations), and post to the two T-accounts. 2. Assume the December 31, 2019, balance of Accounts Receivable is $135,000. Show how net accounts receivable would be reported on the balance sheet at that date. More Info - X 2018 Dec. 31 Estimated that bad debts expense...
Jungle Publishing completed the following transactions for one subscriber during 2018: (Click the icon to view the transactions.) Requirement 1. Journalize these transactions (explanations not required). Then report any liability on the company's balance sheet at December 31, 2018. (Record debits first, then credits. Exclude explanations from journal entries.) Start by journalizing the October 1st transaction. Recall Jungle Publishing sold a one-year subscription, collecting cash of $2,000, plus sales tax of 12%. Journal Entry Accounts Date Debit Credit Oct Next,...
McNight Industries completed the following transactions during 2018: (Click the icon to view the transactions.) Journalize the transactions. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Nov. 1: Made sales of $52,000. McNight estimates that warranty expense is 6% of sales. (Record only the warranty expense.) Date Accounts Debit Credit Nov. 1 Nov. 1 Made sales of $52,000. McNight estimates that warranty expense is 6% of sales. (Record only...
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...
Mass Delivery Service completed the following transactions during December 2018: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record each transaction in the journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Dec. 1: Mass Delivery Service began operations by receiving $15,000 cash and a truck with a fair value of $17,000 from Ripley Mass. The business gave Mass capital in exchange for this contribution. Credit Date Accounts Debit Cash...
Cabbage White Map Company's balance sheet at December 31, 2017, reported the following (Click the icon to view the data) Read the requirements Requirement 1. How much of the receivables did Cabbage White expect to collect Stated differently, what was the net realizabie value of these receivable? The net realizable value of these receivables is SL Requirement 2. Joumalize, without explanations, 2018 entries for Cabbage White and post to the Accounts Receivable and Allowance for Bad Debts T-accounts Begin with...
Question Help The following transactions of Sandy Crus occurred during 2018 Click the icon to view the transachons) Requirements 1. Journalize required transactions, any, in Cur's general journal. Explanations are not required 2. What is the balance in Estimated Warranty Payable assuming a beginning balance of 507 Requirement 1. Journal required transactions, if any, in Cur's general joumal Explanations are not required. Record debitis fint, then credits. Exclude not require an entry, make sure to select "No entry required in...
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