Homework Answers
| Journal general - Riverside Company | |||
| Date | Accounts title and explanation | Debit | Credit |
| 31-Dec | Salaries and wages expenses | $130,000.00 | |
| Income tax payable | $13,000.00 | ||
| FICA Tax Payable | $10,000.00 | ||
| United Way | $2,000.00 | ||
| Cash (BF) | $105,000.00 | ||
| 31-Dec | Payroll Tax expense | $11,300.00 | |
| FICA tax payable | $10,000.00 | ||
| Federal and State Unemployment tax payable | $1,300.00 | ||
| 10-Dec | Cash | $3,600.00 | |
| Unearned rent revenue | $3,600.00 | ||
| 31-Dec | Unearned rent revenue (3600/30*20) | $2,400.00 | |
| Rent revenue | $2,400.00 | ||
| Let me know if any doubt Kindly mark with positive rating it would help me lot. Thanks in advance. |
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journal entrirsn1-4 Check my world une Tonowing informanon appwes to the questions displayed below Riverside Company...
Lakeview Company completed the following two transactions. The annual accounting period ends December 31 a. On...
Lakeview Company completed the following two transactions. The annual accounting period ends December 31 a. On December 31, calculated the payroll, which indicates gross earnings for wages ($68,000), payroll deductions for income tax ($6.800), payroll deductions for FICA ($5,100), payroll deductions for American Cancer Society ($2,550). employer contributions for FICA (matching, and state and federal unemployment taxes ($595). Employees were paid in cash, but payments for the corresponding payroll deductions have not yet been made and employer taxes have not...
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Sandler Company completed the following two transactions. The annual accounting period ends December 31. On December...
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PA10-3 Recording and Reporting Current Liabilities (LO 10-2] Lakeview Company completed the following two transactions. The...
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[The following information applies to the questions displayed below) On January 1, 2021, Red Flash Photography...
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[The following information applies to the questions displayed below. Onslow Co. purchases a used machine for...
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Required information [The following information applies to the questions displayed below.) The following information is available...
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Required information [The following information applies to the questions displayed below.) James Company began the month...
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[The following information applies to the questions displayed below.] North Star prepared the following unadjusted trial...
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lake view company completed the following two transactions CH 10 5. value 2.00 points Lakeview Company compleled dh...
lake view company completed the following two
transactions
CH 10 5. value 2.00 points Lakeview Company compleled dhe following two transactions. The annual accounting period ends December 31 a On December 31, calculated the payroll which indicates gross eamings for wages ($72,000), payroll deductions for income tax (57,200), payroll deductions for FICA ($5,400), payroll deductions for American Cancer Society ($2.700) employer contributions for FICA (matching), and state and federal unemployment taxes (5540) Employees were paid in cash. but payments for...
Lakeview Company completed the following two transactions. The annual accounting period ends December 31 a. On December 31, calculated the payroll, which indicates gross earnings for wages ($68,000), payroll deductions for income tax ($6.800), payroll deductions for FICA ($5,100), payroll deductions for American Cancer Society ($2,550). employer contributions for FICA (matching, and state and federal unemployment taxes ($595). Employees were paid in cash, but payments for the corresponding payroll deductions have not yet been made and employer taxes have not...
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[The following information applies to the questions displayed below) On January 1, 2021, Red Flash Photography had the following balances: Cash $17.000; Supplies, $8,500; Land, $65,000 Deferred Revenue, $5,500: Common Stock $55,000; and Retained Earnings, $30,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $25,eee. 2. May 20 Provide services to customers for cash, $40,000, and on account, $35,000. 3. August 31 Pay salaries to employees for work in 2021, $28,eee....
[The following information applies to the questions displayed below. Onslow Co. purchases a used machine for $240,000 cash on January 2 and readies it for use the next day at a $8,000 cost. On January 3, it is installed on a required operating platform costing $1,600, and it is further readied for operations, The company predicts the machine will be used for six years and have a $28,800 salvage value. Depreciation is to be charged on a straight-line basis. On...
Required information [The following information applies to the questions displayed below.) The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,486 debit balance, but its July bank statement shows a $28,221 cash balance. b. Check No. 3031 for $1,660, Check No. 3065 for $606, and Check No. 3069 for $2,428 are outstanding checks as of July...
Required information [The following information applies to the questions displayed below.) James Company began the month of October with inventory of $23,000. The following inventory transactions occurred during the month: a. The company purchased merchandise on account for $34,000 on October 12. Terms of the purchase were 3/10, n/30. James uses the net method to record purchases. The merchandise was shipped f.o.b. shipping point and freight charges of $580 were paid in cash. b. On October 31, James paid for...
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lake view company completed the following two
transactions
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