Homework Answers
| Record journal entry for personal use | |||||||
| Date | General Journal | Debit | Credit | ||||
| 30-Oct | Damien Lawson, drawings | $3,330 | |||||
| Cash | $3,330 | ||||||
| Drawings is debited for $3,330 as capital amount balance would reduce the capital amount | |||||||
| Cash is credited for cash outflow as cash is paid for withdrawal which would decrease cash balance | |||||||
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Calculator On October 30, Damien Lawson withdraws $3,330 from JumpStart for personal use. Journalize this event....
on October 30, Damien Lawson withdraws $3330 from jumpstart for personal use Instructions On October 30, Damien Law...
on October 30, Damien Lawson withdraws $3330 from jumpstart
for personal use
Instructions On October 30, Damien Lawson withdraws 83,330 from JumpStart for personal use Required: Journalize this event. Refer to the Chart of Accounts for exact wording of account titles
On October 30, JumpStart pays $3,330 in dividends to its stockholders. Provide the journal entry for...
On October 30, JumpStart pays $3,330 in dividends to its stockholders. Provide the journal entry for this transaction. If an amount box does not require an entry, leave it blank. Oct. 30 Accounts Payable Accounts Receivable Cash Common Stock Retained Earnings
1) On October 10, Nickle Company purchased supplies for $1,800 on account. On October 25, Nickle...
1) On October 10, Nickle Company purchased supplies for $1,800 on account. On October 25, Nickle Company paid the invoice. Journalize the entries required for these transactions 2) On October 17, Nickle Company purchased a building and a plot of land for $750,000. The building was valued at $500,000, while the land carried a value of $250,000. Nickle paid $300,000 down in cash and signed a note payable for the balance. Journalize the entry required for this transaction. 3) On...
cash 25,000 shares of $18 par preferred stock at $61. a. Journalize the entries for October...
cash 25,000 shares of $18 par preferred stock at $61. a. Journalize the entries for October 31 and November 19. For a compound transaction, if an amount box does not require an entry, leave it blank. Oct. 31 Cash Common Stock Nov. 19 Cash Preferred Stock b. What is the total amount invested (total paid-in 929 AM
Calculator Journalize the entries to correct the following errors: a. A purchase of supplies for $178...
Calculator Journalize the entries to correct the following errors: a. A purchase of supplies for $178 on account was recorded and posted as a debit to Supplies for $502 and as a credit to Accounts Receivable for $502.(Record the entry to reverse the error first.) If an amount box does not require an entry leave it bank b. A receipt of $5,496 from Fees Earned was recorded and posted as a debit to Fees Earned for $5.496 and a credit...
On October 10, Nikle Company purchased supplies for $1,800 on account. On October 25, Nikle Company...
On October 10, Nikle Company purchased supplies for $1,800 on account. On October 25, Nikle Company paid the invoice. a. Provide the journal entry for the purchase on account. If an amount box does not require an entry, leave it blank. Oct. 10 b. Provide the journal entry for the payment of the invoice. If an amount box does not require an entry, leave it blank. Oct. 25 Accounts Payable Accounts Receivable Cash Supplies Supplies Expense
In October, the cost of materials transferred into the Rolling Department from the Casting Department of...
In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $509,600. The conversion cost for the period in the Rolling Department is $106,800 ($63,400 factory overhead applied and $43,400 direct labor). The total cost transferred to Finished Goods for the period was $530,000. The Rolling Department had a beginning inventory of $21,000. a1. Journalize the cost of transferred-in materials. If an amount box does not require an entry, leave it...
Process Cost Journal Entries: In October, the cost of materials transferred into the Rolling Department from...
Process Cost Journal Entries: In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $522,200. The conversion cost for the period in the Rolling Department is $117,600 ($69,100 factory overhead applied and $48,500 direct labor). The total cost transferred to Finished Goods for the period was $550,000. The Rolling Department had a beginning inventory of $26,700. 1A) Journalize the cost of transferred-in materials. If an amount box does not require...
Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from...
Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $3,000,000. The conversion cost for the period in the Rolling Department is $462,600 ($275,000 factory overhead applied and $187,600 direct labor). The total cost transferred to Finished Goods for the period was $3,392,400. The Rolling Department had a beginning inventory of $163,800. a1. Journalize the cost of transferred-in materials. If an amount box does not require...
Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from...
Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $582,600. The conversion cost for the period in the Rolling Department is $103,800 ($63,000 factory overhead applied and $40,800 direct labor). The total cost transferred to Finished Goods for the period was $560,000. The Rolling Department had a beginning inventory of $24,900. al. Journalize the cost of transferred-in materials. If an amount box does not require...
on October 30, Damien Lawson withdraws $3330 from jumpstart
for personal use
Instructions On October 30, Damien Lawson withdraws 83,330 from JumpStart for personal use Required: Journalize this event. Refer to the Chart of Accounts for exact wording of account titles
On October 30, JumpStart pays $3,330 in dividends to its stockholders. Provide the journal entry for this transaction. If an amount box does not require an entry, leave it blank. Oct. 30 Accounts Payable Accounts Receivable Cash Common Stock Retained Earnings
cash 25,000 shares of $18 par preferred stock at $61. a. Journalize the entries for October 31 and November 19. For a compound transaction, if an amount box does not require an entry, leave it blank. Oct. 31 Cash Common Stock Nov. 19 Cash Preferred Stock b. What is the total amount invested (total paid-in 929 AM
Calculator Journalize the entries to correct the following errors: a. A purchase of supplies for $178 on account was recorded and posted as a debit to Supplies for $502 and as a credit to Accounts Receivable for $502.(Record the entry to reverse the error first.) If an amount box does not require an entry leave it bank b. A receipt of $5,496 from Fees Earned was recorded and posted as a debit to Fees Earned for $5.496 and a credit...
On October 10, Nikle Company purchased supplies for $1,800 on account. On October 25, Nikle Company paid the invoice. a. Provide the journal entry for the purchase on account. If an amount box does not require an entry, leave it blank. Oct. 10 b. Provide the journal entry for the payment of the invoice. If an amount box does not require an entry, leave it blank. Oct. 25 Accounts Payable Accounts Receivable Cash Supplies Supplies Expense
Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $582,600. The conversion cost for the period in the Rolling Department is $103,800 ($63,000 factory overhead applied and $40,800 direct labor). The total cost transferred to Finished Goods for the period was $560,000. The Rolling Department had a beginning inventory of $24,900. al. Journalize the cost of transferred-in materials. If an amount box does not require...
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