Assume that credit sales "to be received in 90 days" are received in exactly 90 days and that EFT wage payments are made in exactly 7 days. What would be the income tax? And its journal en...
| Assume that credit sales "to be received in 90 days" are received in exactly 90 days and that EFT wage payments are made in exactly 7 days. What would be the income tax? And its journal entries CR and DR |
|
01-January-2016 |
Open business bank account with transfer of personal funds |
$210,000 |
|
02-January-2016 |
EFT for rental of office space. Immediate occupancy. 60 months at $3500 per month. |
$210,000 |
|
11-January-2016 |
Office equipment purchased for cash to get discount from the retail price of $56,000. |
$50,000 |
|
11-January-2016 |
The office equipment will be replaced in 5 years at an expected cost of $67,000. |
$67,000 |
|
13-January-2016 |
Bank loan approved and credited to account. Payable in 2021 |
$310,000 |
|
28-June-2016 |
Credit sales. EFT payment to be received in 90 days. |
$65,500 |
|
04-July-2016 |
Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. |
$5,200 |
|
29-July-2016 |
Cash sales. |
$33,500 |
|
12-December-2016 |
Credit sales. EFT payment to be received in 90 days. |
$42,500 |
|
28-December-2016 |
Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. |
$5,720 |
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Assume that credit sales "to be received in 90 days" are received in exactly 90 days and that EFT wage payments are made in exactly 7 days. What would be the income tax? And its journal en...
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please help with the journal entries. I am confused on what numbers to put and how...
please help with the journal entries. I am confused on what
numbers to put and how to get them.
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I Dont know what journal entry I did wrong? Can someone please check over my work...
I
Dont know what journal entry I did wrong? Can someone please check
over my work so I can balance out the trial balance and post
closing trial balance. Thanks!
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unsure what exactly I am being asked to do on this but i believe its debited...
unsure what exactly I am being asked to do on this but i believe
its debited amount in left column and credited in right column.
could someone help with this? transactions are in picture
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I just completed the Journal Entries and according to the comment the next step is the...
I just completed the Journal Entries and according to the
comment the next step is the trial balance. Can you please help me
with this. journal Entries are attached. If there are any mistakes
in the General Journal please let me know.
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i need help with number 4, preparing the income statement,
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please help with the journal entries. I am confused on what
numbers to put and how to get them.
Lenny's Lawn Service, Inc. - Transactions - Additional Information July 2021 Transactions Date Description of the Transaction July 1 Borrow $35,000.00 from 1st Bank by signing a 24 month note. (As an example of how to journalize and post a transaction -- this transaction has already been entered into the General Journal and posted to the General Ledger.) July 1 Receive...
I
Dont know what journal entry I did wrong? Can someone please check
over my work so I can balance out the trial balance and post
closing trial balance. Thanks!
Weige Richard ACA Formulas Draw View Data Review Home Ensert Page Layout Tell me Α Α΄ = = = 25 Wrap Text Paste Merge & Center $ % 9 TU a. Av B Xfx Tonny's Lawn Service, Inc. - Transactions - Agarionarinformation July 2021 Transactions Date Description of the Transaction...
unsure what exactly I am being asked to do on this but i believe
its debited amount in left column and credited in right column.
could someone help with this? transactions are in picture
Cash A/R Inventory Prepaid Insurance Land Building АР Salaries Payable Utilities Payable Notes Payable Common Stock Additional Paid-in Sales Revenue COGS Salaries expense Utilities expense Cash dividend Total Yol c e 50.000 of you . You to c reato peto , but these two wart up...
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I just completed the Journal Entries and according to the
comment the next step is the trial balance. Can you please help me
with this. journal Entries are attached. If there are any mistakes
in the General Journal please let me know.
Victoria Co. Balance Sheet As of December 31, 2019 Cash Notes Receivable Accounts Receivable Less: Allowance for Doubtful A/Cs Inventories Office Supplies Prepaid Insurance Prepaid Rent Total Current Assets Long-term Investments Investments in securities Land for future development...
i need help with number 4, preparing the income statement,
retained earnings statement, and the balance sheet. this is the
information that i have.
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from a problem by Stephen A. Zeff.) Portobello Co., a retailer, is
in its 10th year of operation. On December 28, 2008, three days
before the close of its fiscal year, a flash flood devastated the
company’s administrative office and destroyed almost all of its
accounting records. The company saved the balance sheet on December
31, 2007 (see Exhibit 2.15), the checkbook, the bank statements,
and some soggy remains of the specific...
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