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Fitness Schools, Inc. is wuthorized to sue 200.000 shares of common stock. The company issued 74,000 shares per share. When the market price of common stock was a persham, Fress declared and did 10 dividend. Later, Fitness declared and paid a $0.50 per share cash dividend. Read the requirements Requirement 1. Joumalize the declaration and the debution of the dock vitend. (ecord debts fast, then credia. Select the explanation on the last fine of the joumal entry table) First, journaline...
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Summer has a capital balance of $20,000; Stern's balance is $16,000. Hall pays $100,000 to purchase Stem's interest in the Summer & Stern partnership. Stor receives the full $100,000 Read the requirements Requirement 1. Journalize the partnership's transaction to admit Hall to the partnership (Record debits first, then credits: Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation
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he stockholders' equity section of KMG ple's balance sheet at December 31, 2018, was as follows: (Click the icon to view the balance sheet.) Read the resuirements Requirement a. Prepare the journal entry required on January 9, 2019, fon that date KMG repurchased 75,000 shares of treasury stock for $1,200,000. (Record debits first, then credits Exclude explanation Account i Requirements Requirement b. On March 23, 2019, KMG sold 8,000 of the treasury shares for $48 per share. Prepare the jour...
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The beginning balance sheet of
TextText
Source Co. included
aa
$ 500 comma 000$500,000
investment in
AndyAndy
stock
(4040%
ownership,
TextText
has significant influence over
AndyAndy).
During the year,
TextText
Source completed the following investment transactions:
- X More Info Mar. 3 15 May Dec. 15 Purchased 2,000 shares at $10 per share of Ron Software common stock as a long-term equity investment, representing 4% ownership, no significant influence. Received a cash dividend of $0.94 per share on the Ron...
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I have answered majority of the questions (please correct me if
I am wrong) but I just need help on requirement 5 please!
Lenny Worthington is general manager of United Salons. During 2018, Worthington worked for the company all year at a $13,200 monthly salary. He also earned a year-end bonus equal to 5% of his annual salary. Worthington's federal income tax withheld during 2018 was $1.980 per month, plus United incurred payroll tax expense on Worthington for FICA tax....
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i Data Table Stone Sign Company Adjusted Trial Balance January 31, 2018 Balance Account Title Debit Credit Cash 15,400 Office Supplies 1,500 Prepaid Rent 1,400 Equipment 60,000 Accumulated Depreciation Equipment $ 7,000 Accounts Payable 3,800 Salaries Payable 100 Unearned Revenue 4,200 Notes Payable (long-term) 4,300 Common Stock 48,800 Dividends 800 $ Print Done X Х Data Table - 1,400 60,000 $ 7,000 3,800 100 Prepaid Rent Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common...
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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...
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The unadjusted trial balance of the Contracts Plus Company as of December 31 is found on the trial balance tab. The following Information is required to prepare the necessary adjusting entries for the Contracts Plus Company 1) The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1, Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any. 2) Based on a physical count, supplies on hand total $3,150. Review...
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The unadjusted trial balance of the Contracts Plus Company as of December 31 is found on the trial balance tab. The following information is required to prepare the necessary adjusting entries for the Contracts Plus Company. 1) The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any. 2) Based on a physical count, supplies on hand total $3,150. Review...
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The unadjusted trial balance of the Contracts Plus Company as of December 31 is found on the trial balance tab. The following information is required to prepare the necessary adjusting entries for the Contracts Plus Company 1) The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any. 2) Based on a physical count supplies on hand total $3,150. Review...
Fitness Schools, Inc. is wuthorized to sue 200.000 shares of common stock. The company issued 74,000 shares per share. When the market price of common stock was a persham, Fress declared and did 10 dividend. Later, Fitness declared and paid a $0.50 per share cash dividend. Read the requirements Requirement 1. Joumalize the declaration and the debution of the dock vitend. (ecord debts fast, then credia. Select the explanation on the last fine of the joumal entry table) First, journaline...
Summer has a capital balance of $20,000; Stern's balance is $16,000. Hall pays $100,000 to purchase Stem's interest in the Summer & Stern partnership. Stor receives the full $100,000 Read the requirements Requirement 1. Journalize the partnership's transaction to admit Hall to the partnership (Record debits first, then credits: Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation
he stockholders' equity section of KMG ple's balance sheet at December 31, 2018, was as follows: (Click the icon to view the balance sheet.) Read the resuirements Requirement a. Prepare the journal entry required on January 9, 2019, fon that date KMG repurchased 75,000 shares of treasury stock for $1,200,000. (Record debits first, then credits Exclude explanation Account i Requirements Requirement b. On March 23, 2019, KMG sold 8,000 of the treasury shares for $48 per share. Prepare the jour...
The beginning balance sheet of
TextText
Source Co. included
aa
$ 500 comma 000$500,000
investment in
AndyAndy
stock
(4040%
ownership,
TextText
has significant influence over
AndyAndy).
During the year,
TextText
Source completed the following investment transactions:
- X More Info Mar. 3 15 May Dec. 15 Purchased 2,000 shares at $10 per share of Ron Software common stock as a long-term equity investment, representing 4% ownership, no significant influence. Received a cash dividend of $0.94 per share on the Ron...
I have answered majority of the questions (please correct me if
I am wrong) but I just need help on requirement 5 please!
Lenny Worthington is general manager of United Salons. During 2018, Worthington worked for the company all year at a $13,200 monthly salary. He also earned a year-end bonus equal to 5% of his annual salary. Worthington's federal income tax withheld during 2018 was $1.980 per month, plus United incurred payroll tax expense on Worthington for FICA tax....
i Data Table Stone Sign Company Adjusted Trial Balance January 31, 2018 Balance Account Title Debit Credit Cash 15,400 Office Supplies 1,500 Prepaid Rent 1,400 Equipment 60,000 Accumulated Depreciation Equipment $ 7,000 Accounts Payable 3,800 Salaries Payable 100 Unearned Revenue 4,200 Notes Payable (long-term) 4,300 Common Stock 48,800 Dividends 800 $ Print Done X Х Data Table - 1,400 60,000 $ 7,000 3,800 100 Prepaid Rent Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common...
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...
The unadjusted trial balance of the Contracts Plus Company as of December 31 is found on the trial balance tab. The following Information is required to prepare the necessary adjusting entries for the Contracts Plus Company 1) The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1, Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any. 2) Based on a physical count, supplies on hand total $3,150. Review...
The unadjusted trial balance of the Contracts Plus Company as of December 31 is found on the trial balance tab. The following information is required to prepare the necessary adjusting entries for the Contracts Plus Company. 1) The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any. 2) Based on a physical count, supplies on hand total $3,150. Review...
The unadjusted trial balance of the Contracts Plus Company as of December 31 is found on the trial balance tab. The following information is required to prepare the necessary adjusting entries for the Contracts Plus Company 1) The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any. 2) Based on a physical count supplies on hand total $3,150. Review...