Bridgeport Corp. had the following transactions.
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Bridgeport Corp. had the following transactions.
1. 2. Question 4 Bridgeport Corp. had the following transactions....
Question 4 Pharoah Company had the following transactions. 1. Borrowed pyg72,690 from the bank by signing...
Question 4 Pharoah Company had the following transactions. 1. Borrowed pyg72,690 from the bank by signing a note. 2. Paid pyg36,345 cash for a computer. 3. Purchased pyg6,542 of supplies on account. (a) Indicate what accounts are increased and decreased by each transaction. (b) Journalize each transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)
CALCULATOS STANDARD VIEW PRINTER VERSION BACK NEX Exercise 2-06a-b Sunland Industries had the following transactions. 1....
CALCULATOS STANDARD VIEW PRINTER VERSION BACK NEX Exercise 2-06a-b Sunland Industries had the following transactions. 1. Borrowed $5,900 from the bank by signing a note 2. Pald $3,658 cash for a computer. 3. Purchased $1,003 of supplies on account. Indicate what accounts are increased and decreased by each transaction Debit Analysis 1. Increase the ability Credit Analysis Notes Payable 2 3. Journalize each transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...
Exercise 2-6 Your answer is partially correct. Try again. Concord Corporation had the following transactions. 1....
Exercise 2-6 Your answer is partially correct. Try again. Concord Corporation had the following transactions. 1. Borrowed $6,535 from the bank by signing a note. 2. Paid $3,268 cash for a computer 3. Purchased $588 of supplies on account. (a) Indicate what accounts are increased and decreased by each transaction. Debit Analysis Credit Analysis 1. Increase the Asset Increase Increase the Liability Increase 2. no effect no effect 3. Increase the Asset Increase increase the Liability Increase (b) Journalize each...
The following information is for a copyright owned by Bridgeport Corp., a private entity, at December...
The following information is for a copyright owned by Bridgeport Corp., a private entity, at December 31, 2020. Bridgeport Corp. applies ASPE. Cost Carrying amount Expected future net cash flows (undiscounted) Fair value $4,322,000 2,141,000 2,028,000 1,628,000 Assume that Bridgeport Corp. will continue to use this copyright in the future. As at December 31, 2020, the copyright is estimated to have a remaining useful life of 10 years. Prepare the journal entry, if any, to record the asset's impairment at...
Bridgeport Ltd. had beginning inventory of 52 units that cost $104 each. During September, the company...
Bridgeport Ltd. had beginning inventory of 52 units that cost $104 each. During September, the company purchased 206 units on account at $104 each, returned 8 units for credit, and sold 158 units at $202 each on account. Journalize the September transactions, assuming that Bridgeport Ltd. uses a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter...
Blue Spruce Corp. has the following transactions during August of the current year. Aug. 1 Issues...
Blue Spruce Corp. has the following transactions during August
of the current year.
Aug. 1
Issues shares of common stock to investors in exchange for
$10,170.
4
Pays insurance in advance for 3 months, $1,720.
16
Receives $710 from clients for services rendered.
27
Pays the secretary $740 salary.
Journalize the transactions. (If no entry is required,
select "No Entry" for the account titles and enter 0 for the
amounts. Credit account titles are automatically indented when
amount is entered....
Halladay Enterprises had the following selected transactions. 1. Bo Halladay invested $4,560 cash in the business....
Halladay Enterprises had the following selected
transactions.
1.
Bo Halladay invested $4,560 cash in the business.
2.
Paid office rent of $1,083.
3.
Performed consulting services and billed a client $5,928.
4.
Bo Halladay withdrew $855 cash for personal use.
Indicate the effect each transaction has on the accounting
equation, using plus and minus signs.
Journalize each transaction. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No Entry"...
Bridgeport Inc. operates in a province, where it is subject to GST of 5%. In August,...
Bridgeport Inc. operates in a province, where it is subject to GST of 5%. In August, Bridgeport purchased $26,900 of merchandise inventory, and had sales of $53,100 on account. Bridgeport uses a periodic inventory system. 1. Prepare the summary entry to record the purchases for August. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 2....
Question 4 of 7 View Policies Current Attempt in Progress Ayayai Corp. has the following transactions...
Question 4 of 7 View Policies Current Attempt in Progress Ayayai Corp. has the following transactions during August of the current year. Aug. 1 Issues shares of common stock to investors in exchange for $10,000. Pays insurance in advance for 3 months, $1,000 16 Receives $700 from clients for services rendered. 27 Pays the secretary $450 salary. 4 Journalize the transactions. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account...
Exercise 11-3 During its first year of operations, Concord Corporation had the following transactions pertaining to...
Exercise 11-3 During its first year of operations, Concord Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 66,500 shares for cash at $6 per share. July 1 Issued 39,500 shares for cash at $8 per share. Journalize the transactions, assuming that the common stock has a par value of $6 per share. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent...
CALCULATOS STANDARD VIEW PRINTER VERSION BACK NEX Exercise 2-06a-b Sunland Industries had the following transactions. 1. Borrowed $5,900 from the bank by signing a note 2. Pald $3,658 cash for a computer. 3. Purchased $1,003 of supplies on account. Indicate what accounts are increased and decreased by each transaction Debit Analysis 1. Increase the ability Credit Analysis Notes Payable 2 3. Journalize each transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...
Exercise 2-6 Your answer is partially correct. Try again. Concord Corporation had the following transactions. 1. Borrowed $6,535 from the bank by signing a note. 2. Paid $3,268 cash for a computer 3. Purchased $588 of supplies on account. (a) Indicate what accounts are increased and decreased by each transaction. Debit Analysis Credit Analysis 1. Increase the Asset Increase Increase the Liability Increase 2. no effect no effect 3. Increase the Asset Increase increase the Liability Increase (b) Journalize each...
The following information is for a copyright owned by Bridgeport Corp., a private entity, at December 31, 2020. Bridgeport Corp. applies ASPE. Cost Carrying amount Expected future net cash flows (undiscounted) Fair value $4,322,000 2,141,000 2,028,000 1,628,000 Assume that Bridgeport Corp. will continue to use this copyright in the future. As at December 31, 2020, the copyright is estimated to have a remaining useful life of 10 years. Prepare the journal entry, if any, to record the asset's impairment at...
Blue Spruce Corp. has the following transactions during August
of the current year.
Aug. 1
Issues shares of common stock to investors in exchange for
$10,170.
4
Pays insurance in advance for 3 months, $1,720.
16
Receives $710 from clients for services rendered.
27
Pays the secretary $740 salary.
Journalize the transactions. (If no entry is required,
select "No Entry" for the account titles and enter 0 for the
amounts. Credit account titles are automatically indented when
amount is entered....
Halladay Enterprises had the following selected
transactions.
1.
Bo Halladay invested $4,560 cash in the business.
2.
Paid office rent of $1,083.
3.
Performed consulting services and billed a client $5,928.
4.
Bo Halladay withdrew $855 cash for personal use.
Indicate the effect each transaction has on the accounting
equation, using plus and minus signs.
Journalize each transaction. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No Entry"...
Question 4 of 7 View Policies Current Attempt in Progress Ayayai Corp. has the following transactions during August of the current year. Aug. 1 Issues shares of common stock to investors in exchange for $10,000. Pays insurance in advance for 3 months, $1,000 16 Receives $700 from clients for services rendered. 27 Pays the secretary $450 salary. 4 Journalize the transactions. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account...
Exercise 11-3 During its first year of operations, Concord Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 66,500 shares for cash at $6 per share. July 1 Issued 39,500 shares for cash at $8 per share. Journalize the transactions, assuming that the common stock has a par value of $6 per share. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent...
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