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Warranty Liabilities A dealer sells a car for $82,000, on December 1, 2007, with a warranty for parts and labor for 12 months, or 15,000 miles. The dealership experiences an average warranty cost...
Suppose a customer rents a vehicle for four months from Rent-A-Car on October 1, paying $4,300...
Suppose a customer rents a vehicle for four months from Rent-A-Car on October 1, paying $4,300 ($1,075/month). Record Rent-A-Car's adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record Rent-A-Car's adjusting entry on December 31. Note: Enter debits before credits Date General Journal Debit Credit December 31 Record entry Clear entry View general journal
Suppose a customer rents a vehicle for four months from Rent-A-Car on October 1, paying $4,300...
Suppose a customer rents a vehicle for four months from Rent-A-Car on October 1, paying $4,300 ($1,075/month). Record Rent-A-Car's adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet No General Journal Credit Date December 31 Debit 3,225 Rent expense Prepaid rent 3.225
Brandlin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2017, with...
Brandlin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2017, with payment of 31,000 korunas to be received on March 1, 2018. Brandlin enters into a forward contract on December 1, 2017, to sell 31,000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as follows: Date December 1, 2017 December 31, 2017 March 1, 2018 Forward Rate Spot Rate (to March 1, 2018) $ 4.90 $4.975 5.00 5.100...
3- (Valor 10 puntos) On January 1, 2017, Papo's Company signed an 12-year lease agreement for...
3- (Valor 10 puntos) On January 1, 2017, Papo's Company signed an 12-year lease agreement for equipment. Annual payments are $58,500, to be made at the beginning of each year. At the end of the lease, the equipment will revert to the lessor. The equipment has a useful life of 8 years and has no residual value. At the time of the lease agreement, the equipment has a fair value of $186,000. An interest rate of 14.5% ($18,332) and straight-line...
Brandiin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2017, with...
Brandiin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2017, with payment of 23,000 korunas to be received on March 1, 2018. Brandlin enters into a forward contract on December 1, 2017, to sell 23,000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as follows: Date December 1, 2017 December 31, 2017 March 1, 2018 Spot Rate $ 4.10 4.20 4.35 Forward Rate (to March 1, 2018) $4.175...
1 In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 50...
1 In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 50 persons working an average of 2,500 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 333,200 128,000 154,000 102,000 82,000 494,000 74,000...
ORIGINAL ENTRIES 1. Galle Inc. entered into the following transactions during January. a. January 1: Borrowed...
ORIGINAL ENTRIES 1. Galle Inc. entered into the following transactions during January. a. January 1: Borrowed $50,000 from First Street Bank by signing a note payable. b. January 4: Purchased $25,000 of equipment for cash. C. January 6: Paid $500 to landlord for rent for January. d. January 15: Performed services for customers on account, $10,000. e. January 25: Collected $3,000 from customers for services performed in Transaction d. 1. January 30: Paid salaries of $2,500 for the current month....
MERCHANDISING ACOUNTING Joe Blink opened Blink Corporation. It has link Corporation. It has issued 20,000 shares...
MERCHANDISING ACOUNTING Joe Blink opened Blink Corporation. It has link Corporation. It has issued 20,000 shares of $4 par value common stock. It authorized 900,000 S od 900,000 share. The corporation is a merchandising business. Blink ventory system. Also Blink provides a 2-year warranty with one of its products which was first sold in October. Blink Corporation Trial Balance periodic inventory system September 30 Cr. Cash Dr. $ 54,000 14,000 Inventory Land 45,000 Plant Building 500,000 Accumulated Depreciation-plant Equipment 200,000...
Suppose a customer rents a vehicle for four months from Rent-A-Car on October 1, paying $4,300 ($1,075/month). Record Rent-A-Car's adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record Rent-A-Car's adjusting entry on December 31. Note: Enter debits before credits Date General Journal Debit Credit December 31 Record entry Clear entry View general journal
Suppose a customer rents a vehicle for four months from Rent-A-Car on October 1, paying $4,300 ($1,075/month). Record Rent-A-Car's adjusting entry on December 31. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet No General Journal Credit Date December 31 Debit 3,225 Rent expense Prepaid rent 3.225
Brandlin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2017, with payment of 31,000 korunas to be received on March 1, 2018. Brandlin enters into a forward contract on December 1, 2017, to sell 31,000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as follows: Date December 1, 2017 December 31, 2017 March 1, 2018 Forward Rate Spot Rate (to March 1, 2018) $ 4.90 $4.975 5.00 5.100...
3- (Valor 10 puntos) On January 1, 2017, Papo's Company signed an 12-year lease agreement for equipment. Annual payments are $58,500, to be made at the beginning of each year. At the end of the lease, the equipment will revert to the lessor. The equipment has a useful life of 8 years and has no residual value. At the time of the lease agreement, the equipment has a fair value of $186,000. An interest rate of 14.5% ($18,332) and straight-line...
Brandiin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2017, with payment of 23,000 korunas to be received on March 1, 2018. Brandlin enters into a forward contract on December 1, 2017, to sell 23,000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as follows: Date December 1, 2017 December 31, 2017 March 1, 2018 Spot Rate $ 4.10 4.20 4.35 Forward Rate (to March 1, 2018) $4.175...
1 In December 2016, Learer Company's manager estimated next year's total direct labor cost assuming 50 persons working an average of 2,500 hours each at an average wage rate of $20 per hour. The manager also estimated the following manufacturing overhead costs for 2017 Indirect labor Factory supervision Rent on factory building Factory utilities Factory insurance expired Depreciation-Factory equipment Repairs expense-Factory equipment Factory supplies used Miscellaneous production costs Total estimated overhead costs $ 333,200 128,000 154,000 102,000 82,000 494,000 74,000...
ORIGINAL ENTRIES 1. Galle Inc. entered into the following transactions during January. a. January 1: Borrowed $50,000 from First Street Bank by signing a note payable. b. January 4: Purchased $25,000 of equipment for cash. C. January 6: Paid $500 to landlord for rent for January. d. January 15: Performed services for customers on account, $10,000. e. January 25: Collected $3,000 from customers for services performed in Transaction d. 1. January 30: Paid salaries of $2,500 for the current month....
MERCHANDISING ACOUNTING Joe Blink opened Blink Corporation. It has link Corporation. It has issued 20,000 shares of $4 par value common stock. It authorized 900,000 S od 900,000 share. The corporation is a merchandising business. Blink ventory system. Also Blink provides a 2-year warranty with one of its products which was first sold in October. Blink Corporation Trial Balance periodic inventory system September 30 Cr. Cash Dr. $ 54,000 14,000 Inventory Land 45,000 Plant Building 500,000 Accumulated Depreciation-plant Equipment 200,000...
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