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EE 2-3 p. 73 OBJ. 3 PE 2-3B Journal entry for fees earned Prepare a journal...
EE 2-4 2.75 PE 2-4B Journal entry for owner's withdrawal OBJ. Prepare a journal entry on...
EE 2-4 2.75 PE 2-4B Journal entry for owner's withdrawal OBJ. Prepare a journal entry on June 30 for the withdrawal of $11,500 by Dawn Pierce fe personal use. EE 2-4 75 PE 2-4B Journal entry for owner's withdrawal OB). 3 Prepare a journal entry on June 30 for the withdrawal of $11,500 by Dawn Pierce for personal use.
me now Calculator Journal entry for fees earned Instructions Chart of Accounts Journal Instructions X Prepare...
me now Calculator Journal entry for fees earned Instructions Chart of Accounts Journal Instructions X Prepare a journal entry on April 30 for fees earned on account, $8,200. Refer to the Chart of Accounts for exact wording of account titles instructions Chart of Accounts Journal Instructions Chart of Accounts x Pr! ou of CHART OF ACCOUNTS General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 42 Sales Commission 13 Supplies 14 Prepaid Rent 15 Land 16 Equipment...
Obj. 2 BE 2-1 Rules of debit and credit and normal balances State for each account...
Obj. 2 BE 2-1 Rules of debit and credit and normal balances State for each account whether it is likely to have (a) debit entries only, (b) credit entries only or (c) both debit and credit entries. Also, indicate its normal balance. 1. Accounts Payable 2. Cash 3. Dividends 4. Miscellaneous Expense 5. Insurance Expense 6. Fees Earned BE 2-2 Journal entry for asset purchase Prepare a journal entry for the purchase of office supplies on November 2 for $1,600,...
Chapter 3 The Adjusting Process Obj. 2 WE HUW EX 3-3 Adjusting entry for accrued fees...
Chapter 3 The Adjusting Process Obj. 2 WE HUW EX 3-3 Adjusting entry for accrued fees At the end of the current year, $59,500 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? Explain. b. EX 3-6 Determining wages paid Obj. 2 The wages payable and wages expense...
PE 3-5A Adjustment for accrued revenues OBJ. 2. At the end of the current year, $23,570...
PE 3-5A Adjustment for accrued revenues OBJ. 2. At the end of the current year, $23,570 of fees have been earned but have not been billed to clients. Journalize the adjusting entry to record the accrued fees. PE 3-7B Adjustment for depreciation OBJ. 2 The estimated amount of depreciation on equipment for the current year is $7,700. Journalize the adjusting entry to record the depreciation.
Journal entry worksheet The company received $3,150 cash in photography fees earned. Note: Enter debits before...
Journal entry worksheet The company received $3,150 cash in photography fees earned. Note: Enter debits before credits. General Journal Debit Credit Date Aug 20 Record entry Clear entry View general journal Journal entry worksheet The company purchased office supplies for $2,043 cash. Note: Enter debits before credits. General Journal | Debit Credit Date Aug 05 Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 The company paid $2,700 cash for an insurance policy...
Prepare 9 journal entries based on T accounts. T accounts: EX 2-14. Journal entries Obj. 1,...
Prepare 9 journal entries based on T accounts.
T accounts:
EX 2-14. Journal entries Obj. 1, 2 Based upon the T accounts in Exercise 2-13, prepare the nine journal entries from which the postings were made. Journal entry ex planations may be omit- ted. SHOW ME HOW Equipment 15,000 Cash Dividends 1,000 3,400 (3) 5,000 4,850 2,500 1,000 50,000 (2) 8,700 (3) Accounts Receivable Accounts Payable Service Revenue 18,200 (7) 8,700 (6) 2,500 (3) 10,000 18,200 ating Expenses ,850 1,100...
OBJ. 4 Cost of goods sold budget PE 6-5A EE 6-5 p. 243 Prepare a cost...
OBJ. 4 Cost of goods sold budget PE 6-5A EE 6-5 p. 243 Prepare a cost of goods sold budget for MyLife Chronicles Inc. using the information in Practice Exercises 6-3A and 6-4A. Assume the estimated inventories on Januanu 2016, for finished goods and work in process were $25,000 and $19,000, respectively Also assume the desired inventories on December 31, 2016, for finished goods and work in process were $31,500 and $16,700, respectively. Factory overhead was budgeted at $197,100. Direct...
EE 4-1 p. 165 PE 4-1A Flow of accounts into financial statements OBJ. 1 The balances...
EE 4-1 p. 165 PE 4-1A Flow of accounts into financial statements OBJ. 1 The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner's equity, or balance sheet. 1. Accounts Payable 5. Rent Revenue 2. Depreciation Expense 6. Supplies Expense 3. Nat Hager, Capital (beginning of period) 7. Unearned Rent 1. Office Equipment 8. Wages Payable PE 4-2A Statement...
EE 6-1 p. 235 PE 6-1A Flexible budgeting OBJ. 2 At the beginning of the period,...
EE 6-1 p. 235 PE 6-1A Flexible budgeting OBJ. 2 At the beginning of the period, the Assembly Department budgeted direct labor of $112,000 and property tax of $12,000 for 7,000 hours of production. The department actually com- pleted 7,500 hours of production. Determine the budget for the department, assuming that it uses flexible budgeting.
EE 2-4 2.75 PE 2-4B Journal entry for owner's withdrawal OBJ. Prepare a journal entry on June 30 for the withdrawal of $11,500 by Dawn Pierce fe personal use. EE 2-4 75 PE 2-4B Journal entry for owner's withdrawal OB). 3 Prepare a journal entry on June 30 for the withdrawal of $11,500 by Dawn Pierce for personal use.
me now Calculator Journal entry for fees earned Instructions Chart of Accounts Journal Instructions X Prepare a journal entry on April 30 for fees earned on account, $8,200. Refer to the Chart of Accounts for exact wording of account titles instructions Chart of Accounts Journal Instructions Chart of Accounts x Pr! ou of CHART OF ACCOUNTS General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 42 Sales Commission 13 Supplies 14 Prepaid Rent 15 Land 16 Equipment...
Obj. 2 BE 2-1 Rules of debit and credit and normal balances State for each account whether it is likely to have (a) debit entries only, (b) credit entries only or (c) both debit and credit entries. Also, indicate its normal balance. 1. Accounts Payable 2. Cash 3. Dividends 4. Miscellaneous Expense 5. Insurance Expense 6. Fees Earned BE 2-2 Journal entry for asset purchase Prepare a journal entry for the purchase of office supplies on November 2 for $1,600,...
Chapter 3 The Adjusting Process Obj. 2 WE HUW EX 3-3 Adjusting entry for accrued fees At the end of the current year, $59,500 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary? Explain. b. EX 3-6 Determining wages paid Obj. 2 The wages payable and wages expense...
PE 3-5A Adjustment for accrued revenues OBJ. 2. At the end of the current year, $23,570 of fees have been earned but have not been billed to clients. Journalize the adjusting entry to record the accrued fees. PE 3-7B Adjustment for depreciation OBJ. 2 The estimated amount of depreciation on equipment for the current year is $7,700. Journalize the adjusting entry to record the depreciation.
Journal entry worksheet The company received $3,150 cash in photography fees earned. Note: Enter debits before credits. General Journal Debit Credit Date Aug 20 Record entry Clear entry View general journal Journal entry worksheet The company purchased office supplies for $2,043 cash. Note: Enter debits before credits. General Journal | Debit Credit Date Aug 05 Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 The company paid $2,700 cash for an insurance policy...
Prepare 9 journal entries based on T accounts.
T accounts:
EX 2-14. Journal entries Obj. 1, 2 Based upon the T accounts in Exercise 2-13, prepare the nine journal entries from which the postings were made. Journal entry ex planations may be omit- ted. SHOW ME HOW Equipment 15,000 Cash Dividends 1,000 3,400 (3) 5,000 4,850 2,500 1,000 50,000 (2) 8,700 (3) Accounts Receivable Accounts Payable Service Revenue 18,200 (7) 8,700 (6) 2,500 (3) 10,000 18,200 ating Expenses ,850 1,100...
OBJ. 4 Cost of goods sold budget PE 6-5A EE 6-5 p. 243 Prepare a cost of goods sold budget for MyLife Chronicles Inc. using the information in Practice Exercises 6-3A and 6-4A. Assume the estimated inventories on Januanu 2016, for finished goods and work in process were $25,000 and $19,000, respectively Also assume the desired inventories on December 31, 2016, for finished goods and work in process were $31,500 and $16,700, respectively. Factory overhead was budgeted at $197,100. Direct...
EE 4-1 p. 165 PE 4-1A Flow of accounts into financial statements OBJ. 1 The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner's equity, or balance sheet. 1. Accounts Payable 5. Rent Revenue 2. Depreciation Expense 6. Supplies Expense 3. Nat Hager, Capital (beginning of period) 7. Unearned Rent 1. Office Equipment 8. Wages Payable PE 4-2A Statement...
EE 6-1 p. 235 PE 6-1A Flexible budgeting OBJ. 2 At the beginning of the period, the Assembly Department budgeted direct labor of $112,000 and property tax of $12,000 for 7,000 hours of production. The department actually com- pleted 7,500 hours of production. Determine the budget for the department, assuming that it uses flexible budgeting.
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