Homework Answers
Please Note that I had posted the JE Entries & not a ledger entries
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05 y 1, 2016. Company A borrows $5,000 from Bank of America at 8 for 60 days Record for Company A on 1 2016 Due Account...
On June 1, Huntley Company borrows $50,000 from the bank by signing a 60-day, 6%, interest-bearing...
On June 1, Huntley Company borrows $50,000 from the bank by signing a 60-day, 6%, interest-bearing note. Prepare the necessary entries below associated with the note payable on the books of Huntley Company. Prepare the entry on June 1 when the note was issued. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 1 enter an account title enter a debit amount enter a credit amount...
Journal entry worksheet On March 1, Glenn Corporation borrows $25,000 from the bank. Note: Enter debits...
Journal entry worksheet On March 1, Glenn Corporation borrows $25,000 from the bank. Note: Enter debits before credits. Date Account Title Debit Credit March 01 Journal entry worksheet On April 7, Carlton Company purchases supplies for $600 cash. Note: Enter debits before credits. Date Account Title Debit Credit April 07 Journal entry worksheet On January 5, Fairbanks Corporation provides services on account to customers totaling $10,000. Note: Enter debits before credits. Account Title Debit Credit Date January 05 Journal entry...
On November 30, ABC corporation borrows $79,000 from the bank by signing a 60 day, 8%...
On November 30, ABC corporation borrows $79,000 from the bank by signing a 60 day, 8% note agreement. Round values to 2 decimal places. a) Calculate the maturity date of the note. January 29 b) Calculate the interest that should be accured on this note at December 31st and write the journal entry to record the accrual. Date Description Debit Credit 12/31 Interest Expense Interest Payable to accrue interest on note to bank ToH
On April 1, Carla Vista Company borrows $110,000 from West Bank by signing a 6-month, 8%,...
On April 1, Carla Vista Company borrows $110,000 from West Bank
by signing a 6-month, 8%, interest-bearing note.
Prepare the necessary entries below associated with the note
payable on the books of Carla Vista Company.
Prepare the entry on April 1 when the note was issued.
(Credit account titles are automatically indented when
the amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
April 1
enter an account title
enter a debit amount
enter a...
On June 1, Swifty Company borrows $120,000 from First Bank on a 6-month, $120,000, 8% note....
On June 1, Swifty Company borrows $120,000 from First Bank on a 6-month, $120,000, 8% note. Prepare the entry on June 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 1 Prepare the adjusting entry on June 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 30 Prepare the entry at maturity...
On June 1, Merando Company borrows $90,000 from First Bank on a 6-month, $90,000, 8% note....
On June 1, Merando Company borrows $90,000 from First Bank on a
6-month, $90,000, 8% note.
Prepare the entry on June 1. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually.)
Date
Account Titles and Explanation
Debit
Credit
June 1
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare the adjusting entry on June 30. (Credit
account titles are automatically indented when amount is entered.
Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit...
Cullumber Company borrows $87.600 on July 1 from the bank by signing a $87,600, 10%, 1-year...
Cullumber Company borrows $87.600 on July 1 from the bank by signing a $87,600, 10%, 1-year note payable. Prepare the journal entry to record the proceeds of the note. (Credit account titles are automatically indented when amount is ent Debit Credit Date Account Titles and Explanation July 1 Prepare the journal entry to record the accrued interest at December 31, assuming adjusting entries are made only at the end of the manually.) Date Account Titles and Explanation Debit Credit Dec...
Pearl Company began operations on January 2, 2019. It employs 11 individuals who work 8-hour days...
Pearl Company began operations on January 2, 2019. It employs
11 individuals who work 8-hour days and are paid hourly. Each
employee earns 9 paid vacation days and 6 paid sick days annually.
Vacation days may be taken after January 15 of the year following
the year in which they are earned. Sick days may be taken as soon
as they are earned; unused sick days accumulate. Additional
information is as follows.
Actual Hourly
Wage Rate
Vacation Days Used
by...
Sunland Company began operations on January 2, 2019. It employs 12 individuals who work 8-hour days...
Sunland Company began operations on January 2, 2019. It employs 12 individuals who work 8-hour days and are paid hourly. Each employee earns 11 paid vacation days and 8 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Actual Hourly Wage Rate Vacation Days Used by...
Metlock Company began operations on January 2, 2019. It employs 9 individuals who work 8-hour days...
Metlock Company began operations on January 2, 2019. It employs 9 individuals who work 8-hour days and are paid hourly. Each employee earns 11 paid vacation days and 8 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Actual Hourly Wage Rate Vacation Days Used by...
Journal entry worksheet On March 1, Glenn Corporation borrows $25,000 from the bank. Note: Enter debits before credits. Date Account Title Debit Credit March 01 Journal entry worksheet On April 7, Carlton Company purchases supplies for $600 cash. Note: Enter debits before credits. Date Account Title Debit Credit April 07 Journal entry worksheet On January 5, Fairbanks Corporation provides services on account to customers totaling $10,000. Note: Enter debits before credits. Account Title Debit Credit Date January 05 Journal entry...
On November 30, ABC corporation borrows $79,000 from the bank by signing a 60 day, 8% note agreement. Round values to 2 decimal places. a) Calculate the maturity date of the note. January 29 b) Calculate the interest that should be accured on this note at December 31st and write the journal entry to record the accrual. Date Description Debit Credit 12/31 Interest Expense Interest Payable to accrue interest on note to bank ToH
On April 1, Carla Vista Company borrows $110,000 from West Bank
by signing a 6-month, 8%, interest-bearing note.
Prepare the necessary entries below associated with the note
payable on the books of Carla Vista Company.
Prepare the entry on April 1 when the note was issued.
(Credit account titles are automatically indented when
the amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
April 1
enter an account title
enter a debit amount
enter a...
On June 1, Swifty Company borrows $120,000 from First Bank on a 6-month, $120,000, 8% note. Prepare the entry on June 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 1 Prepare the adjusting entry on June 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 30 Prepare the entry at maturity...
On June 1, Merando Company borrows $90,000 from First Bank on a
6-month, $90,000, 8% note.
Prepare the entry on June 1. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually.)
Date
Account Titles and Explanation
Debit
Credit
June 1
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare the adjusting entry on June 30. (Credit
account titles are automatically indented when amount is entered.
Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit...
Cullumber Company borrows $87.600 on July 1 from the bank by signing a $87,600, 10%, 1-year note payable. Prepare the journal entry to record the proceeds of the note. (Credit account titles are automatically indented when amount is ent Debit Credit Date Account Titles and Explanation July 1 Prepare the journal entry to record the accrued interest at December 31, assuming adjusting entries are made only at the end of the manually.) Date Account Titles and Explanation Debit Credit Dec...
Pearl Company began operations on January 2, 2019. It employs
11 individuals who work 8-hour days and are paid hourly. Each
employee earns 9 paid vacation days and 6 paid sick days annually.
Vacation days may be taken after January 15 of the year following
the year in which they are earned. Sick days may be taken as soon
as they are earned; unused sick days accumulate. Additional
information is as follows.
Actual Hourly
Wage Rate
Vacation Days Used
by...
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