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A business issued a 45-day, 4% note for $250,000 to a creditor on account Joumate theme...
A business issued a 60-day note for $96,000 to a bank. The note was discounted at 9%. Journalize the entries to record (...
A business issued a 60-day note for $96,000 to a bank. The note was discounted at 9%. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity. Assume a 360-day year. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to nearest whole dollar. CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 111 Accounts Receivable 112 Interest Receivable 113 Notes Receivable 115 Inventory 116...
Entries for notes payable Instructions Chart of Accounts Journal Instructions A business issued a 45-day, 4%...
Entries for notes payable Instructions Chart of Accounts Journal Instructions A business issued a 45-day, 4% note for $275,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note on January 1 and (b) the payment of the note at maturity, including interest. Assume a 360-day year. Refer to the Chart of Accounts for exact wording of account titles. Journal a. Journalize the entries to record the issuance of the note on January 1....
Entries for notes payable Instructions Chart of Accounts Journal Instructions A business issued a 45-day, 4%...
Entries for notes payable Instructions Chart of Accounts Journal Instructions A business issued a 45-day, 4% note for $260,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note on January 1 and (b) the payment of the note at maturity, including interest. Assume a 300-day your Refer to the Chart of Accounts for exact wording of account titles. Show Me How OUI eBook Entries for notes payable Instructions Chart of Accounts Journal REVENUE...
Entries for discounted note payable Instructions | Chart of Accounts Journal Instructions A business issued a...
Entries for discounted note payable Instructions | Chart of Accounts Journal Instructions A business issued a 45-day note for $96.000 to a creditor on account. The note was discounted at 9%. Journalize the entnes to record (a) the issuance of the note on March 1 and (b) the payment of the note at maturity Assume a 360-day veer Refer to the Chart of Accounts for exact wording of account titles. Round your answers to nearest whole dollar CHART OF ACCOUNTS...
Instructions The payroll register of Heritage Co. indicates $14,200 of social security withheld and $3,570 of...
Instructions The payroll register of Heritage Co. indicates $14,200 of social security withheld and $3,570 of Medicare tax withheld on total salaries of $230,000 for the period. Earnings of $30.000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.80% and the state rate of 6.40% Joumalize the entry to record the payroll tax expense for the period. Refer to the Chart of Accounts for exact wording of accounts Chart of Accounts ASSETS 110 Cash...
1. Quick Ratio Nabors Company reported the following current assets and liabilities for December 31 for...
1. Quick Ratio Nabors Company reported the following current assets and liabilities for December 31 for two recent years: Dec. 31, Current Year Dec. 31, Previous Year Cash $1,100 $820 Temporary investments 2,400 1,830 Accounts receivable 2,000 1,250 Inventory 1,800 1,760 Accounts payable 5,000 3,900 Required: a. Compute the quick ratio on December 31 of both years. If required, round your answers to one decimal place. Quick Ratio December 31, current year December 31, previous year b. Is the quick...
Instructions an Employees earned vacation pay of 21,500 for the period. The pension formula calculated a...
Instructions an Employees earned vacation pay of 21,500 for the period. The pension formula calculated a Reging Company provides its employees vacation benefits and a defined benefitpension pension cost of $18,720. Only $14,040 was contributed to the pension plan administrator vacation Payon page 11 of the journal and personnel on page 120 m etere a contra On December 31, provide the journal entry for wording of accountitles. REVENUE 410 Sales 610 Interest Revenue ASSETS 110 Cash 111 Accounts Receivable 112...
Need help. Please read the information carefully! That is the whole informatin & I need help...
Need help. Please read the information carefully!
That is the whole informatin & I need help on it
On June 30, Collins Management Company purchased land for $420,000 and a building for S580,000, paying $340,000 cash and issuing a 4% note for the balance, secured by a mortgage on the property. The terms of the note provide for 20 semiannual payments of $33,000 on the principal plus the interest accrued from the date of the preceding payment. Journalize the entry...
The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries...
The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries $1,440,000 86,400 Social security tax withheld Medicare tax withheld Federal income tax withheld 21,600 288,000 In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.6%, respectively, on $244,000 of salaries. Required: A. Joumalize the entry to record the payroll for the week of April 29." B. Journalize the entry to record the payroll tax expense incurred for the...
Instructions Quantas industries sold $280,000 of consumer electronics during January under a one year warranty. The...
Instructions Quantas industries sold $280,000 of consumer electronics during January under a one year warranty. The cost to repair defects under the warranty is estimated at 5 June 20, a customer was given $143 cash under terms of the warranty of the sales price Journalize the entry to record (a) the estimated warranty expense on January 31 for January sales on page 10 of the journal and (b) the June 20 warranty work on page 14 of the journal Refer...
Entries for notes payable Instructions Chart of Accounts Journal Instructions A business issued a 45-day, 4% note for $275,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note on January 1 and (b) the payment of the note at maturity, including interest. Assume a 360-day year. Refer to the Chart of Accounts for exact wording of account titles. Journal a. Journalize the entries to record the issuance of the note on January 1....
Entries for notes payable Instructions Chart of Accounts Journal Instructions A business issued a 45-day, 4% note for $260,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note on January 1 and (b) the payment of the note at maturity, including interest. Assume a 300-day your Refer to the Chart of Accounts for exact wording of account titles. Show Me How OUI eBook Entries for notes payable Instructions Chart of Accounts Journal REVENUE...
Entries for discounted note payable Instructions | Chart of Accounts Journal Instructions A business issued a 45-day note for $96.000 to a creditor on account. The note was discounted at 9%. Journalize the entnes to record (a) the issuance of the note on March 1 and (b) the payment of the note at maturity Assume a 360-day veer Refer to the Chart of Accounts for exact wording of account titles. Round your answers to nearest whole dollar CHART OF ACCOUNTS...
Instructions The payroll register of Heritage Co. indicates $14,200 of social security withheld and $3,570 of Medicare tax withheld on total salaries of $230,000 for the period. Earnings of $30.000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.80% and the state rate of 6.40% Joumalize the entry to record the payroll tax expense for the period. Refer to the Chart of Accounts for exact wording of accounts Chart of Accounts ASSETS 110 Cash...
Instructions an Employees earned vacation pay of 21,500 for the period. The pension formula calculated a Reging Company provides its employees vacation benefits and a defined benefitpension pension cost of $18,720. Only $14,040 was contributed to the pension plan administrator vacation Payon page 11 of the journal and personnel on page 120 m etere a contra On December 31, provide the journal entry for wording of accountitles. REVENUE 410 Sales 610 Interest Revenue ASSETS 110 Cash 111 Accounts Receivable 112...
Need help. Please read the information carefully!
That is the whole informatin & I need help on it
On June 30, Collins Management Company purchased land for $420,000 and a building for S580,000, paying $340,000 cash and issuing a 4% note for the balance, secured by a mortgage on the property. The terms of the note provide for 20 semiannual payments of $33,000 on the principal plus the interest accrued from the date of the preceding payment. Journalize the entry...
The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries $1,440,000 86,400 Social security tax withheld Medicare tax withheld Federal income tax withheld 21,600 288,000 In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.6%, respectively, on $244,000 of salaries. Required: A. Joumalize the entry to record the payroll for the week of April 29." B. Journalize the entry to record the payroll tax expense incurred for the...
Instructions Quantas industries sold $280,000 of consumer electronics during January under a one year warranty. The cost to repair defects under the warranty is estimated at 5 June 20, a customer was given $143 cash under terms of the warranty of the sales price Journalize the entry to record (a) the estimated warranty expense on January 31 for January sales on page 10 of the journal and (b) the June 20 warranty work on page 14 of the journal Refer...
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