ZuoTi.Pro
Question

Metropolitan Tailors finished tailoring clothes for a client on December 31, 2018. The client picked up...

Metropolitan Tailors finished tailoring clothes for a client on December 31, 2018. The client picked up the clothes and paid the invoice of $180 on January 3, 2019. Record any necessary adjusting entries for Metropolitan Tailors in 2018 and the cash receipt transaction in 2019. Metropolitan Tailors has a December 31 year end.

Date Article Title and Explanation PR Debit Credit
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1
                                                            GENERAL JORNAL
DATE Article Title and Explanation PR DEBIT CREDIT
31-12-2018 ACCRUED INCOME A/C 180
               TO CLINT     A/C 180
03-01-2019 Cash A/C 180
               TO ACCRUED INCOME A/C 180
0 0
Add a comment
Know the answer?
Add Answer to:
Metropolitan Tailors finished tailoring clothes for a client on December 31, 2018. The client picked up...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • On December 15, 2018, Peaceful Living Inc. received $200 cash from a customer in advance for...

    On December 15, 2018, Peaceful Living Inc. received $200 cash from a customer in advance for two rounds of bug spraying services, which took place on December 31, 2018 and January 31, 2019. a) Record the cash receipt transaction on December 15, 2018. Date Account Title and Explanation PR Debit Credit b) Record any necessary adjusting entries on December 31, 2018. Date Account Title and Explanation PR Debit Credit

  • Silicon Chip Company's fiscal year-end is December 31. At the end of 2018, it owed employees...

    Silicon Chip Company's fiscal year-end is December 31. At the end of 2018, it owed employees $24,000 in salaries and wages that will be paid on January 7, 2019. Required: 1. Prepare an adjusting entry to record accrued salaries and wages, a reversing entry on January 1, 2019, and an entry to record the payment of salaries and wages on January 7, 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account...

  • The following information is taken from Martinez Corp.’s balance sheet at December 31, 2016. Current liabilities...

    The following information is taken from Martinez Corp.’s balance sheet at December 31, 2016. Current liabilities     Interest payable $ 90,000 Long-term liabilities     Bonds payable (7%, due January 1, 2027) $3,600,000     Less: Discount on bonds payable 36,000 3,564,000 Interest is payable annually on January 1. The bonds are callable on any annual interest date. Martinez uses straight-line amortization for any bond premium or discount. From December 31, 2016, the bonds will be outstanding for an additional 10 years (120 months). (a)...

  • The following adjusting entries were journalized on December 31, 2017. If a reversing entry is needed,...

    The following adjusting entries were journalized on December 31, 2017. If a reversing entry is needed, journalize the reversing entry on January 1, 2018. Make sure to enter the day for each separate transaction. Date Account Title Debit Credit Dec. 31 Deferred Advertising 880 Advertising Revenue 880 31 Taxes Expense 1,750 Taxes Payable 1,750 31 Insurance Expense 890 Prepaid Insurance 890

  • On December 31, 2018 the adjusted trial balance of the Yellin Personnel Agency shows the following...

    On December 31, 2018 the adjusted trial balance of the Yellin Personnel Agency shows the following selected data: Accounts Receivable, $8,000 Service Revenue, $60,000 Interest Expense, $10,500 Interest Payable, $3,500 Utilities Expense, $4,800 Accounts Payable, $2,700 Analysis indicates that adjusting entries were made for (a) $8,000 of employment commission revenue earned but not billed, (b) $3,500 of accrued but unpaid interest, and (c) $2,700 of utilities expense accrued but not paid. Prepare the closing entries at December 31, 2018. (Credit...

  • Presented below is information related to equipment owned by Suarez Company at December 31, 2017. Cost...

    Presented below is information related to equipment owned by Suarez Company at December 31, 2017. Cost $ 9,000,000 Accumulated depreciation to date 1,000,000 Expected future net cash flows 7,000,000 Fair value 4,800,000 Assume that Suarez will continue to use this asset in the future. As of December 31, 2017, the equipment has a remaining useful life of 4 years. New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is partially correct. Prepare...

  • Question 27 A partial trial balance of Skysong Corporation is as follows on December 31, 2018,...

    Question 27 A partial trial balance of Skysong Corporation is as follows on December 31, 2018, Dr. Cr. $2.500 $1,500 Supplies Salaries and wages payable Interest Receivable Prepaid Insurance Unearned Rent Interest Payable 5,400 90,500 13,900 Additional adjusting data: 1. A physical count of supplies on hand on December 31, 2018, totaled $1,000. 2. Through oversight, the Salaries and Wages Payable account was not changed during 2018. Accrued salaries and wages on December 31, 2018, amounted to $4,000. 3. The...

  • The following transactions occurred during December 31, 2018, for the Falwell Company. A three-year fire insurance...

    The following transactions occurred during December 31, 2018, for the Falwell Company. A three-year fire insurance policy was purchased on July 1, 2018, for $11,880. The company debited insurance expense for the entire amount. Depreciation on equipment totaled $12,000 for the year. Employee salaries of $16,000 for the month of December will be paid in early January 2019. On November 1, 2018, the company borrowed $180,000 from a bank. The note requires principal and interest at 12% to be paid...

  • Hazelnut Company earned net income of $75,000 during the year ended December 31, 2018. On December...

    Hazelnut Company earned net income of $75,000 during the year ended December 31, 2018. On December 15, Hazelnut declared the annual cash dividend on its 5% preferred stock (par value, $110,000) and a $0.25 per share cash dividend on its common stock (58,000 shares). Hazelnut then paid the dividends on January 4, 2019 Read the requirements. Requirement 1. Journalize for Hazelnut the entry declaring the cash dividends on December 15, 2018 (Record debits first, then credits. Select the explanation on...

  • Problem 14-8 On December 31, 2017, Slkyseng Company quired a computer from Pato Cerperation o5,r interst at 12%....

    Problem 14-8 On December 31, 2017, Slkyseng Company quired a computer from Pato Cerperation o5,r interst at 12%. The computer is a cted to have a smar Ine and a #26,000 salvage vah. Prepare the journal entry for the purchase on December 31, 2017, (hound present value facter caloulation to deciomal places tiMles and enter o for the are au e. 1.25128 amounts, Cit accoovnt titles are autometically indenend when amount is enteredl. Do nee inentaly Account itles and Explanation...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT