Homework Answers
| No. | Account Titles & Explanations | Debit | Credit |
| $ | $ | ||
| 1. | Sales Revenue | 240,000 | |
| Income Summary | 240,000 | ||
| To close revenue account | |||
| 2. | Income Summary | 174,000 | |
| Cost of Goods Sold | 174,000 | ||
| To close cost of goods sold |
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WileyPLUS Wavganat, Accounting princkeles, 13. CALCULATOR BACK NEX SSIGNMENT RESOURCES Question 13 Prepare the closing entries...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 192 Prepare the necessary closing entries based on...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 192 Prepare the necessary closing entries based on the following selected accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) $10,000 6,000 Accumulated Depreciation Depreciation Expense Owner's Capital Owner's Drawings Salaries and Wages Expense Service Revenue 20,000 9,000 19,000 40,000 Account Titles and Explanation Debit Credit (To close revenue account) (To close revenue account) (To close expense accont) (To close net income/loss) (To close owner's...
WileyPLUS wavendt, Accounting Princetoles, 13 CALCULATOR FRUNTER VERSION ACE ASSIGNMENT RESOURCES Unit Lab Learning Activities 114...
WileyPLUS wavendt, Accounting Princetoles, 13 CALCULATOR FRUNTER VERSION ACE ASSIGNMENT RESOURCES Unit Lab Learning Activities 114 EXERCISE SOBE Exercise 5-07a-b (Part Level Submission) Cheyenne Company had the following account balances at year-end: Cost of Goods Sold $62,020; Inventory $17,320; Operating Expenses $29,150, Sales Revenue $121.470; Seres Discounts $1,380, and Swes Returns and Allowances $1,190. A physical count of inventory determines that merchandise inventory on hand is $12,230 Review Score Review Results frv. Study Objective (a) Your answer is correct Prepare...
Hele System Announcements ssignment assignment > Open Assignment CALCULATOR SSIGNMENT RESOURCES Beg. Bal. 444 Review Score...
Hele System Announcements ssignment assignment > Open Assignment CALCULATOR SSIGNMENT RESOURCES Beg. Bal. 444 Review Score Review Results by Study Obiective 648 Exercise 3-09 Selected accounts of Crane Company are shown below. Supplies 769 10/31 Salaries and Wages Expense 10/15 751 10/31 542 Unearned Service Revenue 10/31 383 10/20 Service Revenue 10/17 10/31 10/31 Accounts Receivable 10/17 2.305 10/31 1.611 Salaries and Wages Payable 10/30 Supplies Expense 10/31 444 2,305 1,511 383 542 From an analysis of the accounts reconstruct...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Question 14 Sergel Company issued $400,000 of bonds on...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Question 14 Sergel Company issued $400,000 of bonds on January 1, 2020 Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (Credit account titles are automatically indente when the amount is entered. Do not indent manually.) Account Tities and Explanation Debit Credit Prepare the journal entry to record the redemption of the bonds before maturity at 97. Assume the balance in Premium...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Brief Exercise 14-03 Crane Corporation has 51,500 shares of...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Brief Exercise 14-03 Crane Corporation has 51,500 shares of $11 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $17. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account s are automatically indented when amount is entered. Do...
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ment 52:35 PM / Remaining! 162 min. CALCULATOR FULL SCREEN PRINTER VERSION 4 BACK NEXT Question...
ment 52:35 PM / Remaining! 162 min. CALCULATOR FULL SCREEN PRINTER VERSION 4 BACK NEXT Question 12 On May 1, Southern Oil Corporation purchased 2,000 shares of its $10 par value common stock at a cash price of $13/share. On July 15, 900 shares of the treasury stock were sold for cash at $17/share. Journalize the two transactions. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. Record journal entries in the order presented...
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LUS Keten Sintermediate conting, 16th Edition, Custom WileyPLUS Blackboard Course Card for Bronx Community College BACK NET JRCES Brief Exercise 13-14 (Part Level Submission) Monty Corporation sells DVD players. The corporation also offers its customers a 4-year warranty contract. During 2017, Monty sold 20,000 warranty contracts at $120 each. The corporation spent $179,000 servicing warranties during 2017, and it estimates that an additional $895,000 will be spent in the future to service the warranties. Prepare Morty's journal entry for the...
CALCULATOR FULL SCREEN PRINTER VERSION BACK Question 13 Sheridan Company issues $300,000, 20-year, 8% bonds at...
CALCULATOR FULL SCREEN PRINTER VERSION BACK Question 13 Sheridan Company issues $300,000, 20-year, 8% bonds at 102. Prepare the journal entry to record the sale of these bonds on June 1, 2020. (Credit account ttles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit June 1 Click if you would like to Show Work for this question: Open Show Work By accessing this Question Assistance, you will leam while you earn points...
please answer the question below, thanks CALCULATOR PRINTER VERSION BACK NEXT (a) On April 2, Jennifer Elston uses...
please answer the question below, thanks
CALCULATOR PRINTER VERSION BACK NEXT (a) On April 2, Jennifer Elston uses her JCPenney Company credit card to purchase merchandise from a JCPenney store for $1,400. On May 1, Elston is billed for the $1,400 amount due. Elston pays $700 on the balance due on May 3. Elston receives a bill dated June 1 for the amount due, including interest at 3.0 % per month on the unpaid balance as of May 3. Prepare...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 192 Prepare the necessary closing entries based on the following selected accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) $10,000 6,000 Accumulated Depreciation Depreciation Expense Owner's Capital Owner's Drawings Salaries and Wages Expense Service Revenue 20,000 9,000 19,000 40,000 Account Titles and Explanation Debit Credit (To close revenue account) (To close revenue account) (To close expense accont) (To close net income/loss) (To close owner's...
WileyPLUS wavendt, Accounting Princetoles, 13 CALCULATOR FRUNTER VERSION ACE ASSIGNMENT RESOURCES Unit Lab Learning Activities 114 EXERCISE SOBE Exercise 5-07a-b (Part Level Submission) Cheyenne Company had the following account balances at year-end: Cost of Goods Sold $62,020; Inventory $17,320; Operating Expenses $29,150, Sales Revenue $121.470; Seres Discounts $1,380, and Swes Returns and Allowances $1,190. A physical count of inventory determines that merchandise inventory on hand is $12,230 Review Score Review Results frv. Study Objective (a) Your answer is correct Prepare...
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CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Question 14 Sergel Company issued $400,000 of bonds on January 1, 2020 Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (Credit account titles are automatically indente when the amount is entered. Do not indent manually.) Account Tities and Explanation Debit Credit Prepare the journal entry to record the redemption of the bonds before maturity at 97. Assume the balance in Premium...
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Weygandt, Accounting Principles, 13e Assignment Gradebook ORION Downloadable eTextbook WileyPLUS: My Wiley:PLUS I HelR I Contact us IL PRINCIPLES OF ACCT IALI (ACC 114/ Etice CALCULATOR FULL SCREEN PRINTER VERSION BACK Brief Exercise 5-05 ac Prepare the journal entries to record the following transactions on Pronghorn Company's books under a perpetual inventory system. NE On March 2, Crane Company sold $891,000 of merchandise on account to Pronghorn Company, terms 4/10, n/30. The cost of the merchandise sold was $593,000. (Credit...
ment 52:35 PM / Remaining! 162 min. CALCULATOR FULL SCREEN PRINTER VERSION 4 BACK NEXT Question 12 On May 1, Southern Oil Corporation purchased 2,000 shares of its $10 par value common stock at a cash price of $13/share. On July 15, 900 shares of the treasury stock were sold for cash at $17/share. Journalize the two transactions. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. Record journal entries in the order presented...
LUS Keten Sintermediate conting, 16th Edition, Custom WileyPLUS Blackboard Course Card for Bronx Community College BACK NET JRCES Brief Exercise 13-14 (Part Level Submission) Monty Corporation sells DVD players. The corporation also offers its customers a 4-year warranty contract. During 2017, Monty sold 20,000 warranty contracts at $120 each. The corporation spent $179,000 servicing warranties during 2017, and it estimates that an additional $895,000 will be spent in the future to service the warranties. Prepare Morty's journal entry for the...
CALCULATOR FULL SCREEN PRINTER VERSION BACK Question 13 Sheridan Company issues $300,000, 20-year, 8% bonds at 102. Prepare the journal entry to record the sale of these bonds on June 1, 2020. (Credit account ttles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit June 1 Click if you would like to Show Work for this question: Open Show Work By accessing this Question Assistance, you will leam while you earn points...
please answer the question below, thanks
CALCULATOR PRINTER VERSION BACK NEXT (a) On April 2, Jennifer Elston uses her JCPenney Company credit card to purchase merchandise from a JCPenney store for $1,400. On May 1, Elston is billed for the $1,400 amount due. Elston pays $700 on the balance due on May 3. Elston receives a bill dated June 1 for the amount due, including interest at 3.0 % per month on the unpaid balance as of May 3. Prepare...
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