Homework Answers
For Record the notes Receivebles
| Event | General journal | Debit | Credit |
| 1 | Notes Receivebles | 16,000 | |
| Cash | 16,000 |
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On April 14, a company lends $16,000 cash to one of its employees and accepts a...
On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty...
On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting Shoemaker's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. Shoemaker agrees to lend $500,000 to its supplier using a 12-month, 12% note. Required: 1. The loan of $500,000 and acceptance of the note receivable on April 1, 2021 2 The adjustment for accrued interest on December 31, 2021...
21 On April 1, a company provides services to one of its customers for $13,000. As...
21 On April 1, a company provides services to one of its customers for $13,000. As payment for the services, the company accepts a six- month9% note from the customer Record the acceptance of the note receivable on April 1 and the cash collection on October 1 (if no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Do not round intermediate calculations.) 7 points View transaction lit 02/11:45 Journal entry worksheet...
2-Week 1 Saved A company lends $30,000 with 10% interest on May 1, 2021. This amount...
2-Week 1 Saved A company lends $30,000 with 10% interest on May 1, 2021. This amount plus interest is due on April 30, 2022. Record the adjusting entry on December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry rec in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet < 1 Record the adjusting entry on December 31, 2021. Note: Enter debits before credits Date General Journal Debit...
Revise your calculations based the new Information provided below and then answer the questions that follow....
Revise your calculations based the new Information provided below and then answer the questions that follow. A company lends $378,000 to an owner and accepts a three year, 7% note in return. The note was issued on June 1st of the current year, and will be due on June 1st of the final year of the note. Required: (a) Prepare the journal entry to be made when the company makes the loan and accepts the note in return. (If no...
help me figure out the amounts for the journal entiries 2 and 3 On April 1,...
help me figure out the amounts for the journal entiries 2 and
3
On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting Shoemaker's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. Shoemaker agrees to lend $500,000 to its supplier using a 12-month, 12% note. Required: 1. The loan of $500,000 and acceptance of the note receivable on...
Revise your calculations based the new information provided below and then answer the questions that follow....
Revise your calculations based the new information provided below and then answer the questions that follow. A company lends $336,000 to an owner and accepts a three year, 7% note in return. The note was issued on June 1st of the current year, and will be due on June 1st of the final year of the note. Required: (a) Prepare the journal entry to be made when the company makes the loan and accepts the note in return. (If no...
A company establishes a petty cash fund for $500. By the end of the month. employees...
A company establishes a petty cash fund for $500. By the end of the month. employees had made the following expenditures from the fund: supplies, $131; fuel for deliveries, $125: postage, $74: miscellaneous, $33. Record the entry to recognize expenditures from the petty cash fund. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the entry to recognize expenditures from the petty...
On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $19.5 million cash to expand...
On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $19.5 million cash to expand operations. The loan is made by FirstBanc Corp. under a short-term line of credit arrangement. Trico signs a six-month, 8% promissory note. Interest is payable at maturity. FirstBanc Corp.'s year-end is December 31 Required: 1-3. Record the necessary entries in the Journal Entry Worksheet below for FirstBanc Corp. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the...
On March 15, American Eagle declares a quarterly cash dividend of $0.035 per share payable on April 13 to all stockhold...
On March 15, American Eagle declares a quarterly cash dividend of $0.035 per share payable on April 13 to all stockholders of record on March 30. Required: Record American Eagle's declaration and payment of cash dividends for its 228 million shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answer in dollars, not in millions (i.e. $5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet...
Saved work On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is...
Saved work On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting Shoemaker's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. Shoemaker agrees to lend $600,000 to its supplier using a 12-month, 11% note, Required: 1. The loan of $600,000 and acceptance of the note receivable on April 1, 2021. 2. The adjustment for accrued interest on December...
On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting Shoemaker's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. Shoemaker agrees to lend $500,000 to its supplier using a 12-month, 12% note. Required: 1. The loan of $500,000 and acceptance of the note receivable on April 1, 2021 2 The adjustment for accrued interest on December 31, 2021...
21 On April 1, a company provides services to one of its customers for $13,000. As payment for the services, the company accepts a six- month9% note from the customer Record the acceptance of the note receivable on April 1 and the cash collection on October 1 (if no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Do not round intermediate calculations.) 7 points View transaction lit 02/11:45 Journal entry worksheet...
2-Week 1 Saved A company lends $30,000 with 10% interest on May 1, 2021. This amount plus interest is due on April 30, 2022. Record the adjusting entry on December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry rec in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet < 1 Record the adjusting entry on December 31, 2021. Note: Enter debits before credits Date General Journal Debit...
Revise your calculations based the new Information provided below and then answer the questions that follow. A company lends $378,000 to an owner and accepts a three year, 7% note in return. The note was issued on June 1st of the current year, and will be due on June 1st of the final year of the note. Required: (a) Prepare the journal entry to be made when the company makes the loan and accepts the note in return. (If no...
help me figure out the amounts for the journal entiries 2 and
3
On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting Shoemaker's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. Shoemaker agrees to lend $500,000 to its supplier using a 12-month, 12% note. Required: 1. The loan of $500,000 and acceptance of the note receivable on...
Revise your calculations based the new information provided below and then answer the questions that follow. A company lends $336,000 to an owner and accepts a three year, 7% note in return. The note was issued on June 1st of the current year, and will be due on June 1st of the final year of the note. Required: (a) Prepare the journal entry to be made when the company makes the loan and accepts the note in return. (If no...
A company establishes a petty cash fund for $500. By the end of the month. employees had made the following expenditures from the fund: supplies, $131; fuel for deliveries, $125: postage, $74: miscellaneous, $33. Record the entry to recognize expenditures from the petty cash fund. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the entry to recognize expenditures from the petty...
On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $19.5 million cash to expand operations. The loan is made by FirstBanc Corp. under a short-term line of credit arrangement. Trico signs a six-month, 8% promissory note. Interest is payable at maturity. FirstBanc Corp.'s year-end is December 31 Required: 1-3. Record the necessary entries in the Journal Entry Worksheet below for FirstBanc Corp. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the...
On March 15, American Eagle declares a quarterly cash dividend of $0.035 per share payable on April 13 to all stockholders of record on March 30. Required: Record American Eagle's declaration and payment of cash dividends for its 228 million shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answer in dollars, not in millions (i.e. $5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet...
Saved work On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting Shoemaker's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. Shoemaker agrees to lend $600,000 to its supplier using a 12-month, 11% note, Required: 1. The loan of $600,000 and acceptance of the note receivable on April 1, 2021. 2. The adjustment for accrued interest on December...
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