Homework Answers
s
|
Date |
Account title and Explanation |
Debit |
Credit |
|
May, 10 |
Cash ( $ 6,500 - $ 247 ) |
$ 6,253 |
|
|
Service charge Expenses ( $ 6,500 * 3.80 % ) |
$ 247 |
||
|
Sales revenue |
$ 6,500 |
||
|
( Record for sales revenue and cash received after 3.80% service charge ) |
Service charge as debited to loss...
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Current Attempt in Progress On May 10, Metlock, Inc. sold merchandise for $6,500 and accepted the...
Current Attempt in Progress On May 10, Tamarisk, Inc. sold merchandise for $6,000 and accepted the...
Current Attempt in Progress On May 10, Tamarisk, Inc. sold merchandise for $6,000 and accepted the customer's Best Business Bank MasterCard. At the end of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charges a 4.10% service charge for credit card sales. Prepare the entry on Tamarisk, Inc.'s books to record the sale of merchandise. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date...
USLIUM IU "iew Policies how Attempt History Current Attempt in Progress - Your answer is partially...
USLIUM IU "iew Policies how Attempt History Current Attempt in Progress - Your answer is partially correct. On May 10, Bonita Industries sold merchandise for $12,000 and accepted the customer's Best Business Bank MasterCard. At the end of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charges a 3.7% service charge for credit card sales. Prepare the entry on Bonita Industries's books to record the sale of merchandise. (Credit account...
Kimmel, Financial Accounting, be Help System Announcements CALCULATOR PRINTER VERSION BACK Exercise 8-8 On May 10,...
Kimmel, Financial Accounting, be Help System Announcements CALCULATOR PRINTER VERSION BACK Exercise 8-8 On May 10, Coronado Industries sold merchandise for $31,000 and accepted the customer's Best Business Bank MasterCard. At the end of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account, Best Business Bank charges a 3.3% service charge for credit card sales. Prepare the entry on Coronado Industries's books to record the sale of merchandise. (Credit account titles are automatically indented...
pharaoh company accepted a Visa card payment Question 2 View Policies Current Attempt in Progress Consider...
pharaoh company accepted a Visa card payment
Question 2 View Policies Current Attempt in Progress Consider these transactions: Creatit account tities are automatically indented when amount is entered. Do not indent manually (a) Pharoah Company accepted a Visa card in payment of a $400 lunch bill. The bank charges a 4% fee. What entry should Pharoah make? (b) Shamrock, Inc. sold its accounts receivable of $61,600. What entry should Shamrock make, given a service charge of 4% on the amount...
Weygandt, Financial Accounting, 10e FINANCIAL ACCOUNTING (ACCT 100/ BU Grace Period: 2 days left Regist Assignment...
Weygandt, Financial Accounting, 10e FINANCIAL ACCOUNTING (ACCT 100/ BU Grace Period: 2 days left Regist Assignment Gradebook ORION Downloadable eTextbook int CALCULATOR FULL SCREEN PRINTER VERSION «Аск On March 3, Kitselman Appliances sells $774,300 of its receivables to Monty Inc. Monty assesses a finance charge of 3% of the amount of receivables sold. Prepare the entry on Kitselman Appliances' books to record the sale of the receivables. (Credit account titles are automatically indented when amount is entered. Do not indent...
Exercise 8-7 Presented below are two independent situations. On March 3, Kitselman Appliances sells $763,800 of its rece...
Exercise 8-7 Presented below are two independent situations. On March 3, Kitselman Appliances sells $763,800 of its receivables to Ervay Factors Inc. Ervay Factors assesses a finance charge of 3% of the amount of receivables sold. Prepare the entry on Kitselman Appliances’ books to record the sale of the receivables. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) On May 10, Fillmore Company sold merchandise for $14,800 and accepted the customer’s America Bank MasterCard....
The following transactions are for Metlock Company 1. On December 3, Metlock Company sold $536,100 of merchandise to Iv...
The following transactions are for Metlock Company 1. On December 3, Metlock Company sold $536,100 of merchandise to Ivanhoe Co., on account, terms 3/10,n/30. The cost of the merchandise sold was $317.400. 2. On December 8, Ivanhoe Co. was granted an allowance of $24,800 for merchandise purchased on December 3. 3. On December 13, Metlack Company received the balance due from Ivanhoe Co. Prepare the journal entries to record these transactions on the books of Metlock. Metlock uses a perpetual...
Question 5 of 9 -/1 View Policies Current Attempt in Progress Metlock Inc, has outstanding 11,100...
Question 5 of 9 -/1 View Policies Current Attempt in Progress Metlock Inc, has outstanding 11,100 shares of $10 par value common stock. On July 1, 2017, Metlock reacquired 101 shares at $88 per share. On September 1, Metlock reissued 61 shares at $91 per share. On November 1, Metlock reissued 40 shares at $86 per share. Prepare Metlock's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do...
please help with this accounting question! Question 11 View Policies Current Attempt in Progress On March...
please help with this accounting question!
Question 11 View Policies Current Attempt in Progress On March 3, Oriole Company sells $736,600 of its receivables to Western Factors Inc. Western Factors Inc. assesses a service charge of 4% of the amount of receivables sold Prepare the entry on Oriole Company books to record the sale of the receivables. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 3...
On July 1, 2020, Metlock Inc. made two sales. 1. It sold land having a...
On July 1, 2020, Metlock Inc. made two sales.
1. It sold land having a fair
value of $919,890 in exchange for a 4-year zero-interest-bearing
promissory note in the face amount of $1,447,460. The land is
carried on Metlock's books at a cost of $599,700.
2. It rendered services in exchange
for a 3%, 8-year promissory note having a face value of $404,320
(interest payable annually).
Metlock Inc. recently had to pay 8% interest for money that it...
Current Attempt in Progress On May 10, Tamarisk, Inc. sold merchandise for $6,000 and accepted the customer's Best Business Bank MasterCard. At the end of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charges a 4.10% service charge for credit card sales. Prepare the entry on Tamarisk, Inc.'s books to record the sale of merchandise. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date...
USLIUM IU "iew Policies how Attempt History Current Attempt in Progress - Your answer is partially correct. On May 10, Bonita Industries sold merchandise for $12,000 and accepted the customer's Best Business Bank MasterCard. At the end of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charges a 3.7% service charge for credit card sales. Prepare the entry on Bonita Industries's books to record the sale of merchandise. (Credit account...
Kimmel, Financial Accounting, be Help System Announcements CALCULATOR PRINTER VERSION BACK Exercise 8-8 On May 10, Coronado Industries sold merchandise for $31,000 and accepted the customer's Best Business Bank MasterCard. At the end of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account, Best Business Bank charges a 3.3% service charge for credit card sales. Prepare the entry on Coronado Industries's books to record the sale of merchandise. (Credit account titles are automatically indented...
pharaoh company accepted a Visa card payment
Question 2 View Policies Current Attempt in Progress Consider these transactions: Creatit account tities are automatically indented when amount is entered. Do not indent manually (a) Pharoah Company accepted a Visa card in payment of a $400 lunch bill. The bank charges a 4% fee. What entry should Pharoah make? (b) Shamrock, Inc. sold its accounts receivable of $61,600. What entry should Shamrock make, given a service charge of 4% on the amount...
Weygandt, Financial Accounting, 10e FINANCIAL ACCOUNTING (ACCT 100/ BU Grace Period: 2 days left Regist Assignment Gradebook ORION Downloadable eTextbook int CALCULATOR FULL SCREEN PRINTER VERSION «Аск On March 3, Kitselman Appliances sells $774,300 of its receivables to Monty Inc. Monty assesses a finance charge of 3% of the amount of receivables sold. Prepare the entry on Kitselman Appliances' books to record the sale of the receivables. (Credit account titles are automatically indented when amount is entered. Do not indent...
The following transactions are for Metlock Company 1. On December 3, Metlock Company sold $536,100 of merchandise to Ivanhoe Co., on account, terms 3/10,n/30. The cost of the merchandise sold was $317.400. 2. On December 8, Ivanhoe Co. was granted an allowance of $24,800 for merchandise purchased on December 3. 3. On December 13, Metlack Company received the balance due from Ivanhoe Co. Prepare the journal entries to record these transactions on the books of Metlock. Metlock uses a perpetual...
Question 5 of 9 -/1 View Policies Current Attempt in Progress Metlock Inc, has outstanding 11,100 shares of $10 par value common stock. On July 1, 2017, Metlock reacquired 101 shares at $88 per share. On September 1, Metlock reissued 61 shares at $91 per share. On November 1, Metlock reissued 40 shares at $86 per share. Prepare Metlock's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do...
please help with this accounting question!
Question 11 View Policies Current Attempt in Progress On March 3, Oriole Company sells $736,600 of its receivables to Western Factors Inc. Western Factors Inc. assesses a service charge of 4% of the amount of receivables sold Prepare the entry on Oriole Company books to record the sale of the receivables. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 3...
On July 1, 2020, Metlock Inc. made two sales.
1. It sold land having a fair
value of $919,890 in exchange for a 4-year zero-interest-bearing
promissory note in the face amount of $1,447,460. The land is
carried on Metlock's books at a cost of $599,700.
2. It rendered services in exchange
for a 3%, 8-year promissory note having a face value of $404,320
(interest payable annually).
Metlock Inc. recently had to pay 8% interest for money that it...
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