Homework Answers
Add Answer to:
Cheyenne Corp.receives a $16000, 9-month, 8% promissory note from Novak Corp. in settlement of an open...
Marigold Corp. receives a 59300, 3-month promissory note from Blossom Company in settement of an open...
Marigold Corp. receives a 59300, 3-month promissory note from Blossom Company in settement of an open accounts receivable what entry wil Marigold Corp make upon receiving the note? Not Receivable 9486 Accounts Receivable-Blossom Company Not Receivable Accounts Receivables Company Interest Revenue Notes Recevable Accounts Receivable Boom Company Not Receive resta ble Accounts Receivable-Blossom Interest
Novak Corp. lends Sunland Company $63600 on August 1, 2017, accepting a 9-month, 15% interest note. If Novak Corp. prepa...
Novak Corp. lends Sunland Company $63600 on August 1, 2017, accepting a 9-month, 15% interest note. If Novak Corp. prepares its financial statements as of December 31, 2017, what adjusting entry must it make? a. Interest Receivable 3975 Interest Revenue 3975 b. Notes Receivable 3975 Interest Revenue 3975 c. Cash 3975 Interest Revenue 3975 d. Accounts Receivable 3975 Interest Receivable 3975
16. Rosen Company receives a $3,000, 3-month, 6% promissory note from Bay Company in settlement of...
16. Rosen Company receives a $3,000, 3-month, 6% promissory note from Bay Company in settlement of an open accounts receivable. What entry will Rosen Company make A) Neceiving the neen accounts remonth, 6% 3,000 3,000 A) Notes Receivable Accounts Receivable Bay Company 3,000 B) Notes Receivable 3,045 Accounts Receivable-Bay Company Interest Revenue C) Notes Receivable 3,000 Interest Receivable 45 Accounts Receivable Bay Company Interest Revenue D) Notes Receivable 3,045 Accounts Receivable Bay Company 3,000 45 3,045 17. The sale of...
8.) On January 15, 2010, Raymond Company received a two-month, 9%, $5,000 note Pentel for the...
8.) On January 15, 2010, Raymond Company received a two-month, 9%, $5,000 note Pentel for the settlement of his open account. The entry by Raymond Company on March ved a two-month, 9%, $5,000 note from William Pentel dishonors the note and collection is expected is: C 5,075 Accounts Receivable-W. Pentel Notes Receivable Interest Revenue 5,000 75 5,075 Bad Debts Expense Notes Receivable 5,075 4,925 75 Accounts Receivable-W. Pentel Interest Lost Notes Receivable 5,000 5,000 Accounts Receivable-W. Pentel Notes Receivable 5,000
please help with these accounting problems! all questions please and thank you! 19. Rosen Company receives...
please help with these accounting problems! all questions please
and thank you!
19. Rosen Company receives a $9,000, 3-month, 6% promissory note from Bay Company in settlement of an open accounts receivable. What entry will Rosen Company make upon receiving the note? A) Notes Receivable 9,135 Accounts Receivable-Bay Company 9,135 B) Notes Receivable 9,135 Accounts Receivable-Bay Company 9,000 Interest Revenue 135 C) Notes Receivable 9,000 Interest Receivable 135 Accounts Receivable Bay Company 9,000 Interest Revenue 135 D) Notes Receivable 9,000...
Information on Novak Corp., which reports under ASPE, follows: July 1 Novak Corp. sold to Wildhorse...
Information on Novak Corp., which reports under ASPE, follows: July 1 Novak Corp. sold to Wildhorse Co. merchandise having a sales price of $8,700, terms 3/10, n/60. Novak records its sales and receivables net. 3 Wildhorse Co. returned defective merchandise having a sales price of $600. 5 Accounts receivable of $19,000 (gross) are factored with Pina Corp. without recourse at a financing charge of 9%. Cash is received for the proceeds and collections are handled by the finance company. (These...
Novak Corp. was experiencing cash flow problems and was unable to pay its $115,000 account payable...
Novak Corp. was experiencing cash flow problems and was unable to pay its $115,000 account payable to Pina Corp. when it fell due on September 30, 2020. Pina agreed to substitute a one-year note for the open account. The following two options were presented to Novak by Pina Corp.: Option 1: A one-year note for $115,000 due September 30, 2021. Interest at a rate of 10% would be payable at maturity. Option 2: A one-year non-interest-bearing note for $126,500. The...
The unadjusted trial balance for Novak Corp. is shown below. Credit NOVAK CORP Trial Balance October...
The unadjusted trial balance for Novak Corp. is shown below. Credit NOVAK CORP Trial Balance October 31, 2022 Debit Cash $16,050 Supplies 2,940 Prepaid Insurance 720 Equipment 5,500 Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends 670 Service Revenue Salaries and Wages Expense 4,000 Rent Expense 1.030 $30,910 $5,500 2,190 2,180 11,840 0 9,200 $30,910 1. Assume the following adjustment data. Supplies on hand at October 31 total $600. 2. Expired insurance for the month is...
Crane Company accepts from Gates Stores a $7,900,4-month, 9% note dated May 31 in settlement of...
Crane Company accepts from Gates Stores a $7,900,4-month, 9% note dated May 31 in settlement of Gates' overdue account. The maturity date of the note is September 30. (a1) Your answer is correct. Calculate the interest payable at maturity. Interest payable at maturity $ 237 e Textbook and Media List of Accounts Attempts: 1 of 2 used (a2) What entry does Crane Company make at the maturity date, assuming Gates pays the note and interest in full at that time?...
Brief Exercise 8-9 1. On January 10, 2017, Martinez Corp. sold merchandise on account to Tompkins...
Brief Exercise 8-9 1. On January 10, 2017, Martinez Corp. sold merchandise on account to Tompkins for $8,550, terms n/30. 2. On February 9, Tompkins gave Martinez Corp. a 7% promissory note in settlement of this account. Prepare the journal entry to record the sale and the settlement of the accounts receivable. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation 1. Debit...
Marigold Corp. receives a 59300, 3-month promissory note from Blossom Company in settement of an open accounts receivable what entry wil Marigold Corp make upon receiving the note? Not Receivable 9486 Accounts Receivable-Blossom Company Not Receivable Accounts Receivables Company Interest Revenue Notes Recevable Accounts Receivable Boom Company Not Receive resta ble Accounts Receivable-Blossom Interest
16. Rosen Company receives a $3,000, 3-month, 6% promissory note from Bay Company in settlement of an open accounts receivable. What entry will Rosen Company make A) Neceiving the neen accounts remonth, 6% 3,000 3,000 A) Notes Receivable Accounts Receivable Bay Company 3,000 B) Notes Receivable 3,045 Accounts Receivable-Bay Company Interest Revenue C) Notes Receivable 3,000 Interest Receivable 45 Accounts Receivable Bay Company Interest Revenue D) Notes Receivable 3,045 Accounts Receivable Bay Company 3,000 45 3,045 17. The sale of...
8.) On January 15, 2010, Raymond Company received a two-month, 9%, $5,000 note Pentel for the settlement of his open account. The entry by Raymond Company on March ved a two-month, 9%, $5,000 note from William Pentel dishonors the note and collection is expected is: C 5,075 Accounts Receivable-W. Pentel Notes Receivable Interest Revenue 5,000 75 5,075 Bad Debts Expense Notes Receivable 5,075 4,925 75 Accounts Receivable-W. Pentel Interest Lost Notes Receivable 5,000 5,000 Accounts Receivable-W. Pentel Notes Receivable 5,000
please help with these accounting problems! all questions please
and thank you!
19. Rosen Company receives a $9,000, 3-month, 6% promissory note from Bay Company in settlement of an open accounts receivable. What entry will Rosen Company make upon receiving the note? A) Notes Receivable 9,135 Accounts Receivable-Bay Company 9,135 B) Notes Receivable 9,135 Accounts Receivable-Bay Company 9,000 Interest Revenue 135 C) Notes Receivable 9,000 Interest Receivable 135 Accounts Receivable Bay Company 9,000 Interest Revenue 135 D) Notes Receivable 9,000...
Novak Corp. was experiencing cash flow problems and was unable to pay its $115,000 account payable to Pina Corp. when it fell due on September 30, 2020. Pina agreed to substitute a one-year note for the open account. The following two options were presented to Novak by Pina Corp.: Option 1: A one-year note for $115,000 due September 30, 2021. Interest at a rate of 10% would be payable at maturity. Option 2: A one-year non-interest-bearing note for $126,500. The...
The unadjusted trial balance for Novak Corp. is shown below. Credit NOVAK CORP Trial Balance October 31, 2022 Debit Cash $16,050 Supplies 2,940 Prepaid Insurance 720 Equipment 5,500 Notes Payable Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends 670 Service Revenue Salaries and Wages Expense 4,000 Rent Expense 1.030 $30,910 $5,500 2,190 2,180 11,840 0 9,200 $30,910 1. Assume the following adjustment data. Supplies on hand at October 31 total $600. 2. Expired insurance for the month is...
Crane Company accepts from Gates Stores a $7,900,4-month, 9% note dated May 31 in settlement of Gates' overdue account. The maturity date of the note is September 30. (a1) Your answer is correct. Calculate the interest payable at maturity. Interest payable at maturity $ 237 e Textbook and Media List of Accounts Attempts: 1 of 2 used (a2) What entry does Crane Company make at the maturity date, assuming Gates pays the note and interest in full at that time?...
Brief Exercise 8-9 1. On January 10, 2017, Martinez Corp. sold merchandise on account to Tompkins for $8,550, terms n/30. 2. On February 9, Tompkins gave Martinez Corp. a 7% promissory note in settlement of this account. Prepare the journal entry to record the sale and the settlement of the accounts receivable. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation 1. Debit...
Most questions answered within 3 hours.
-
Why did the observed chemistry of thallium mislead Mendelev to
place the group 13 element (Tl)...
asked 1 hour ago -
A sine wave signal is displayed on the screen of an
oscilloscope. 6 peak-to-peak divisions are...
asked 3 hours ago -
a
1500 kg car accelerates from 0 to 25 m / s in 21.0s. How much...
asked 4 hours ago -
Calculate the molarity of each of the following solutions:
(a) 30.5 g of ethanol (C2H5OH) in...
asked 4 hours ago -
1 Refer to the build-borrow-or-buy framework as a decision tree
for the Adidas company. Identify a...
asked 4 hours ago -
Problem 2: The Problem of Social Cost. A Rancher and Farmer live
side-by-side to each other....
asked 6 hours ago -
a uniform bar of weight 40N is 4 meter long. weights
on 60N and 100N are...
asked 5 hours ago -
Define Diet counceling? What are the
responsibilities of a counselor?
asked 7 hours ago -
Hey im just confused about how to put the ' A angle n' and ' S...
asked 7 hours ago -
A short essay about the WSJ article on Oreo versus Hydrox.
asked 7 hours ago -
##8. A program contains the following function definition:
##def cube(num):
##return num * num * num...
asked 7 hours ago -
find the value z of a standard Normal variable that satisfies
each of the given conditions....
asked 8 hours ago