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Question Help On August 1, 2018, Salem Landscaping collected $18,000 in advance from customers for landscaping...
On April 1, 2018, Ash Company invests $18,000 in Firs, Inc. stock. Firs pays Ash a...
On April 1, 2018, Ash Company invests $18,000 in Firs, Inc. stock. Firs pays Ash a $350 dividend on August 1, 2018. Ash sells the Firs's stock on August 31, 2018, for $18,300. Assume the investment is categorized as a short-term equity investment and Ash Company does not have significant influence over Firs, Inc. Read the requirements. Requirement 1. Journalize the transactions for Ash's investment in Firs' stock. (Record debits first, then credits. Select the explanation on the last line...
Chapter 11 1). On August 1, Cooking Fun Magazine collected cash of $72,000 on future annual...
Chapter 11
1).
On August 1, Cooking Fun Magazine collected cash of $72,000 on future annual subscriptions starting on September 1. Requirements 1. Journalize the transaction to record the collection of cash on August 1. 2. Journalize the transaction required at December 31, the magazine's year-end, assuming no revenue earned has been recorded. (Round adjustment to the nearest whole dollar.) Requirement 1. Journalize the transaction to record the collection of cash on August 1. (Record debits first, then credits. Select...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two charges for NSF checks from cust...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two charges for NSF checks from customers. One is for $440 (#1), and the other is for $140 (#2). c. The following Wollaston Healthcare checks are outstanding at August 31: Check No. 237 Amount $ 90 288 140 291 550 294 630 295 50 296 50 d. Wollaston collects from a few customers by EFT. The August bank statement lists a $1,600 EFT deposit for...
P3-33A (similar to) Question Help o Lindsey Landscaping has collected the following data for the December...
P3-33A (similar to) Question Help o Lindsey Landscaping has collected the following data for the December 31 adjusting entries: (Click the icon to view the independent cases.) Read the requirements. Requirement 1. Journalize the adjusting entry needed on December 31 for each of the items affecting Lindsey Landscaping. Assume Lindsey records adjusting entries only at the end of the year. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Each Friday,...
Q1 Ch9 E9-21 (similar to) IE Question Help During August 2019, Hclo Company recorded the following:...
Q1 Ch9
E9-21 (similar to) IE Question Help During August 2019, Hclo Company recorded the following: Sales of $60,200 (344,000 on account: $16.200 for cash). Ignore Cost of Goods Sold • Callections on account, $29,800 • Write-ots of uncollectible raceivablas, $1.480. • Recovery of receivable previously written oft, $500. Requirements Journalize Hello's Transactions during August 2018, assuming Helio uses the direct write-off method. 2. Journalize Helia's transactions during August 2018, assuming Helio uses the alowance method. Requirement 1. Jourralize Helia's...
On January 1, 2018, Daryl Unimted ssues 7%, 20-year bonds payable with a lece value of...
On January 1, 2018, Daryl Unimted ssues 7%, 20-year bonds payable with a lece value of $220,000 The bonds ae ssued at 133 and pay interest on June 30 and December 31 Assume bonds payatle ae anorticed uning the straght ne amortaions method) Read the seurements Requirement 1. Journalze the issuance of the bonds on January 1, 2018 (Record debits first then credes Select explanations on the last ine of the pural entry Credt Date Accounts and Explanation Debit 201...
Question 9 (5 points) On August 1, 2018, Dorchester Company entered into a capital lease, and...
Question 9 (5 points) On August 1, 2018, Dorchester Company entered into a capital lease, and correctly recorded the leased asset, and related obligation at $100,000. The annual interest rate implicit in the lease was 9%, and the first lease payment of $1,600 is due at the end of each month of the lease. Use this information to prepare the General Journal entry (without explanation) for the August 31, 2018 monthly lease payment. If no entry is required then write...
On August 1, 2018, the beginning of its current fiscal year, the following opening account balances,...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
On August 1, 2018, the beginning of its current fiscal year, the following opening account balances,...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were
completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
Accounting Cycle Review 4-1 (Part Level Submission) On August 1, 2018, the beginning of its current...
Accounting Cycle Review 4-1 (Part Level Submission) On August 1, 2018, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Tobique Ltd. Accounts payable Accounts receivable Accumulated depreciation equipment Cash Common shares Equipment $2,490 Interest receivable 4,590 Note receivable, due October 31, 2018 1,850 Retained earnings 5,650 Salaries payable 11,400 Supplies 9,100 Unearned revenue 20 4,000 5,950 1,510 1,060 1,220 During August, the following summary transactions were completed. Paid $360...
On April 1, 2018, Ash Company invests $18,000 in Firs, Inc. stock. Firs pays Ash a $350 dividend on August 1, 2018. Ash sells the Firs's stock on August 31, 2018, for $18,300. Assume the investment is categorized as a short-term equity investment and Ash Company does not have significant influence over Firs, Inc. Read the requirements. Requirement 1. Journalize the transactions for Ash's investment in Firs' stock. (Record debits first, then credits. Select the explanation on the last line...
Chapter 11
1).
On August 1, Cooking Fun Magazine collected cash of $72,000 on future annual subscriptions starting on September 1. Requirements 1. Journalize the transaction to record the collection of cash on August 1. 2. Journalize the transaction required at December 31, the magazine's year-end, assuming no revenue earned has been recorded. (Round adjustment to the nearest whole dollar.) Requirement 1. Journalize the transaction to record the collection of cash on August 1. (Record debits first, then credits. Select...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two charges for NSF checks from customers. One is for $440 (#1), and the other is for $140 (#2). c. The following Wollaston Healthcare checks are outstanding at August 31: Check No. 237 Amount $ 90 288 140 291 550 294 630 295 50 296 50 d. Wollaston collects from a few customers by EFT. The August bank statement lists a $1,600 EFT deposit for...
P3-33A (similar to) Question Help o Lindsey Landscaping has collected the following data for the December 31 adjusting entries: (Click the icon to view the independent cases.) Read the requirements. Requirement 1. Journalize the adjusting entry needed on December 31 for each of the items affecting Lindsey Landscaping. Assume Lindsey records adjusting entries only at the end of the year. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Each Friday,...
Q1 Ch9
E9-21 (similar to) IE Question Help During August 2019, Hclo Company recorded the following: Sales of $60,200 (344,000 on account: $16.200 for cash). Ignore Cost of Goods Sold • Callections on account, $29,800 • Write-ots of uncollectible raceivablas, $1.480. • Recovery of receivable previously written oft, $500. Requirements Journalize Hello's Transactions during August 2018, assuming Helio uses the direct write-off method. 2. Journalize Helia's transactions during August 2018, assuming Helio uses the alowance method. Requirement 1. Jourralize Helia's...
On January 1, 2018, Daryl Unimted ssues 7%, 20-year bonds payable with a lece value of $220,000 The bonds ae ssued at 133 and pay interest on June 30 and December 31 Assume bonds payatle ae anorticed uning the straght ne amortaions method) Read the seurements Requirement 1. Journalze the issuance of the bonds on January 1, 2018 (Record debits first then credes Select explanations on the last ine of the pural entry Credt Date Accounts and Explanation Debit 201...
Question 9 (5 points) On August 1, 2018, Dorchester Company entered into a capital lease, and correctly recorded the leased asset, and related obligation at $100,000. The annual interest rate implicit in the lease was 9%, and the first lease payment of $1,600 is due at the end of each month of the lease. Use this information to prepare the General Journal entry (without explanation) for the August 31, 2018 monthly lease payment. If no entry is required then write...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were
completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
Accounting Cycle Review 4-1 (Part Level Submission) On August 1, 2018, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Tobique Ltd. Accounts payable Accounts receivable Accumulated depreciation equipment Cash Common shares Equipment $2,490 Interest receivable 4,590 Note receivable, due October 31, 2018 1,850 Retained earnings 5,650 Salaries payable 11,400 Supplies 9,100 Unearned revenue 20 4,000 5,950 1,510 1,060 1,220 During August, the following summary transactions were completed. Paid $360...
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