Can you prepare journal entries for each transaction?
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Can you prepare journal entries for each transaction? Transaction No. Transaction N December 10: Pane collects a portio...
Can you do the year-end adjusting entries for the following: 1) Recognize rent revenue for the year. 2) Depreciation exp...
Can you do the year-end adjusting entries for the following:
1) Recognize rent revenue for the year.
2) Depreciation expense for the year is 2,556,000.
3) Recognize the expiration of the prepaid insurance policy.
4) Recognize the interest earned on the note receivable
issued.
5) Record bad debt expense for the year, assuming uses 2% of
accounts receivable to estimate their uncollectible accounts.
6) Amortization Expense for the year is 3,000.
Using this information:
Transaction No. Transaction A January 1:...
Make appropriate journal entries for the following: 10 January 5: Pane performs renovations to convert a...
Make appropriate journal entries for the following:
10 January 5: Pane performs renovations to convert a previously empty wing of their warehouse into additional production facilities. During the renovation, they also perform annual maintenance on their existing machines. They pay for both the renovation and maintenance in cash. $275,000 New production wing Useful life of addition Maintenance on existing machines 20 $55,000 January 12: Pane purchased inventory on account. Inventory Purchased $37,000,000 January 15: The company pays off the previous...
Prepare general journal entries to record each transaction. Omit explanations. Pastina Company manufactures and sells various...
Prepare general journal entries to record each transaction. Omit
explanations.
Pastina Company manufactures and sells various types of pasta to grocery chains as private label brands. The company's fiscal year-end is December 31. The December 31, 2020 trial balance is as follows: Credits PASTINA COMPANY Trial Balance December 31, 2020 Account Title Debits Cash $ 24,550 Accounts receivable 22,000 Supplies 1,400 Inventory 68,000 Prepaid rent 1,250 Office equipment 92,000 Accumulated depr.-office equipment Accounts payable Salaries payable Common stock Retained earnings...
Prepare the adjusted journal entries At the end of December (the fiscal year end), Cassel Accounting...
Prepare the adjusted journal entries
At the end of December (the fiscal year end), Cassel Accounting had the following adjustments. (NOTE: Depreciation expense is only recorded at year-end; all other adjustments are recorded monthly.) a. The insurance policy was renewed on 11/1/20 for 6 months at a cost of $3,900. $6,400 of the amounts received in advance from clients are still unearned. b. Received a utility bill for December for $680. | Interest has accrued on both of the notes....
Prepare journal entries for each transaction and identify the financial statement impact of each entry. The...
Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements are automatically generated based on the journal entries recorded. Jan. 1 Kacy Spade, owner, invested $100,750 cash in the company. Jan. 2 The company purchased office supplies for $1,250 cash. Jan. 3 The company purchased $10,050 of office equipment on credit. Jan. 4 The company received $15,500 cash as fees for services provided to a customer. Jan. 5 The company paid $10,050...
Prepare journal entries to record each of the December transactions Accounting 2140 - Comprehensive Problem On...
Prepare journal entries to record each of the December
transactions
Accounting 2140 - Comprehensive Problem On October 1, 2019, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2019. After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The...
Prepare the closing journal entry. (If no entry is required for a transaction/event, select "No Journal...
Prepare the closing journal entry. (If no entry is required
for a transaction/event, select "No Journal Entry Required" in the
first account field. Enter your answers in thousands of
dollars.)
Post the closing entry and prepare a post-closing trial
balance. (Enter your answers in thousands of dollars.)
Required information The following information applies to the questions displayed below Intemational celebrity Jay and Goku began operations of their machine shop (J& G Tool, Inc.) on January 1, 2016. The annual reporting...
Prepare the adjusting entries required at December 31, 2014, in each of the following cases. These...
Prepare the adjusting entries required at December 31, 2014, in
each of the following cases. These adjustments are for the year
ended December 31, 2014.
a. ABC Company was assessed property taxes of $350 for 2014. The
taxes were due April 15, 2015.
b. ABC Company’s payroll was $6,000 per five day work week.
Payroll is paid every Friday. The company closes its books on
December 31st which falls on a Thursday.
c. ABC Company has $3,000 of savings bonds....
Prepare journal entries for each transaction and identify the financial statement impact of each entry. The...
Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements are automatically generated based on the journal entries recorded. Jan. 1 Kacy Spade, owner, invested $129,750 cash in the company. Jan. 2 The company purchased office supplies for $1,250 cash. Jan. 3 The company purchased $10,850 of office equipment on credit. Jan. 4 The company received $15,500 cash as fees for services provided to a customer. Jan. 5 The company paid $10,050...
Record the adjusting journal entries (k) through (p). (If no entry is required for a transaction/event,...
Record the adjusting journal entries (k) through (p). (If no
entry is required for a transaction/event, select "No Journal Entry
Required" in the first account field. Enter your answers in
thousands of dollars.)
Post the adjusting entries and prepare an adjusted trial
balance. (Enter your answers in thousands of dollars.)
Required information The following information applies to the questions displayed below) Intemational celebrity Jay and Goku began operations of their machine shop (J&G Tool, Inc.) on January 1, 2016. The...
Can you do the year-end adjusting entries for the following:
1) Recognize rent revenue for the year.
2) Depreciation expense for the year is 2,556,000.
3) Recognize the expiration of the prepaid insurance policy.
4) Recognize the interest earned on the note receivable
issued.
5) Record bad debt expense for the year, assuming uses 2% of
accounts receivable to estimate their uncollectible accounts.
6) Amortization Expense for the year is 3,000.
Using this information:
Transaction No. Transaction A January 1:...
Make appropriate journal entries for the following:
10 January 5: Pane performs renovations to convert a previously empty wing of their warehouse into additional production facilities. During the renovation, they also perform annual maintenance on their existing machines. They pay for both the renovation and maintenance in cash. $275,000 New production wing Useful life of addition Maintenance on existing machines 20 $55,000 January 12: Pane purchased inventory on account. Inventory Purchased $37,000,000 January 15: The company pays off the previous...
Prepare general journal entries to record each transaction. Omit
explanations.
Pastina Company manufactures and sells various types of pasta to grocery chains as private label brands. The company's fiscal year-end is December 31. The December 31, 2020 trial balance is as follows: Credits PASTINA COMPANY Trial Balance December 31, 2020 Account Title Debits Cash $ 24,550 Accounts receivable 22,000 Supplies 1,400 Inventory 68,000 Prepaid rent 1,250 Office equipment 92,000 Accumulated depr.-office equipment Accounts payable Salaries payable Common stock Retained earnings...
Prepare the adjusted journal entries
At the end of December (the fiscal year end), Cassel Accounting had the following adjustments. (NOTE: Depreciation expense is only recorded at year-end; all other adjustments are recorded monthly.) a. The insurance policy was renewed on 11/1/20 for 6 months at a cost of $3,900. $6,400 of the amounts received in advance from clients are still unearned. b. Received a utility bill for December for $680. | Interest has accrued on both of the notes....
Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements are automatically generated based on the journal entries recorded. Jan. 1 Kacy Spade, owner, invested $100,750 cash in the company. Jan. 2 The company purchased office supplies for $1,250 cash. Jan. 3 The company purchased $10,050 of office equipment on credit. Jan. 4 The company received $15,500 cash as fees for services provided to a customer. Jan. 5 The company paid $10,050...
Prepare journal entries to record each of the December
transactions
Accounting 2140 - Comprehensive Problem On October 1, 2019, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2019. After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The...
Prepare the closing journal entry. (If no entry is required
for a transaction/event, select "No Journal Entry Required" in the
first account field. Enter your answers in thousands of
dollars.)
Post the closing entry and prepare a post-closing trial
balance. (Enter your answers in thousands of dollars.)
Required information The following information applies to the questions displayed below Intemational celebrity Jay and Goku began operations of their machine shop (J& G Tool, Inc.) on January 1, 2016. The annual reporting...
Prepare the adjusting entries required at December 31, 2014, in
each of the following cases. These adjustments are for the year
ended December 31, 2014.
a. ABC Company was assessed property taxes of $350 for 2014. The
taxes were due April 15, 2015.
b. ABC Company’s payroll was $6,000 per five day work week.
Payroll is paid every Friday. The company closes its books on
December 31st which falls on a Thursday.
c. ABC Company has $3,000 of savings bonds....
Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements are automatically generated based on the journal entries recorded. Jan. 1 Kacy Spade, owner, invested $129,750 cash in the company. Jan. 2 The company purchased office supplies for $1,250 cash. Jan. 3 The company purchased $10,850 of office equipment on credit. Jan. 4 The company received $15,500 cash as fees for services provided to a customer. Jan. 5 The company paid $10,050...
Record the adjusting journal entries (k) through (p). (If no
entry is required for a transaction/event, select "No Journal Entry
Required" in the first account field. Enter your answers in
thousands of dollars.)
Post the adjusting entries and prepare an adjusted trial
balance. (Enter your answers in thousands of dollars.)
Required information The following information applies to the questions displayed below) Intemational celebrity Jay and Goku began operations of their machine shop (J&G Tool, Inc.) on January 1, 2016. The...
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