Screenshot 2023-12-16 122603

PA5. 7.4 Brown Inc. records purchases in a purchases journal and purchase returns in the general journal. Record the following transactions using a purchases journal, a general journal, and an accounts payable subsidiary ledger. The company uses the periodic method of accounting for inventory. Oct.1 Purchased inventory on account from Price Inc. for $2,000 Oct.1 Purchased inventory on account from Cabrera Inc. for $3,000 Oct.8 Returned half of the inventory to Price Inc. Oct.9 Purchased inventory on account from Price Inc. for $4,200

Print Item From the data below for Wong Company, prepare the closing entries for the year ended December 31. Cash dividends $47,000 Sales 982,600 Sales returns and allowances 3,960 Interest revenue 10,521 Factory overhead (debit) 210,620 Factory overhead (credit) 210,620 Cost of goods sold 726,820 Wages expense 130,745 Supplies expense 9,900 Depreciation expense-office equipment 6,900 Utilities expense 5,840 Bad debt expense 1,680 Advertising expense 11,120 Interest expense 9,860 Income tax expense 32,050 If an amount box does not require an entry, leave it blank. Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT

question General ledger                Debit                    Credit                   Balance 01.11.20                                                                                    50,000 31.12.20  Rental Revenue                               6000                  56,000 31.12.20 Rental Revenue                                1800                  57,800 01.01.21 Rental  Revenue         6,000                                       51,800   Kindly show me the T Accounts for the above general ledger.

Adjusted Trial BalanceJune 30, 2012 Account | DebitCreditCashS21.200 Accounts receivable38.900Supplies 14.300Prepaid insurance 1, 800Equipment32.600 Acc. deprequipment26, 800Building42.800Acc dep:building10.800Land 28.300Accounts pavable22.700Notes pavable22, 400Interest payable100Wages payable200Unearned service revenue5.600Capital stock79.100 Retained earningsDividends4, 200Service revenue26.100Dep. expense: equipment600Dep. expense: building300Wages expense3, 400Insurance expense500Interest expense100Utilities expense1.100Advertising expense400Supplies expense3.300 Total 193.800193, 800Required:a. Prepare the income statement, the statement of retained earnings, and the balance sheet.b. Journalize the closing entries.c. Prepare the after - closing trial balance.

ACCOUNTS RECEIVABLE LEDGER Account Brandon Connors Post Date Item Ref. Debit Credit Balance Mar. J1 23,652.00 23,652.00 10 J2 23,652.00 0.00 14 J2 12,317.00 12,317.00 Account Collin Deluca Post Date Item Ref. Debit Credit Balance Mar. 10 J2 1,401.00 1,401.00 15 J2 2,263.00 3,664.00 Account Meghan Deutsch Post Date Item Ref. Debit Credit Balance Mar. J1 89.00 89.00 19 J2 2,568.00 2,657.00 Account Carmen Perez Post

E. Accounts receivable P 60,000 Allowance for doubtuful accounts 350 (credit balance) Doubtul of collection % 2% 1. Provide Adjusting Entries by the year end Dec. 31, 2021

PA9 GENERAL JOURNAL PAGE X POST. DATE DESCRIPTION REF. DEBIT CREDIT 1 20хx 2 А. 2. 3 13 4 4 5 В. 15 16 7 7

On November 1, 2022, the account balances of Blue Spruce Corp. were as follows. No. Debits No. Credits 101 Cash $2,880 154 Accumulated Depreciation-Equipment $2,400 112 Accounts Receivable 5,100 201 Accounts Payable 3,120 126 Supplies 2,160 209 Unearned Service Revenue 1,440 153 Equipment 14,400 212 Salaries and Wages Payable 840 311 Common Stock 12,000 320 Retained Earnings 4,740 $24,540 $24,540 During November, the following summary transactions were completed. Nov. 8 Paid $2,040 for salaries due employees, of which $840 is for October salarles. 10 Received $4.096 cash from customers on account. 12 Received $3,720 cash for services performed in November. 15 Purchased equipment on account $2,400. 17 Purchased supplies on account $840. 20 Paid creditors on account $3,240. 22 Paid November rent $480. 25 Paid salaries $2,040. 27 Performed services on account and billed customers $2,280 for these services. 29 Recelved $720 from customers for future service.

lal Acc CO ng-20201 am ACCT301 Fall 2020/2021 (Sections 1, 2, and 81) 19 Revenue has a credit balance of OMR 15,000 in Muscat Co. if the dosing entry will made at the year end, ved The entry to close Revenue is: it of Select one: O a debit Income Summary OMR20,000, credit Revenue OMR20,000 Ob. debit Revenue OMR15,000, credit Ahmad Capital OMR15,000 Oc debit Revenue OMR15,000, credit Income Summary OMR15,000. d. debit Income Summary OMR15,000, credit Revenue OMR15,000 Clear my choice s page

be Preview File Edit View V Go mgt120h-a17.pdf Page 3 of 10 DOLAY Tools Window Help risinin D .. .. .. ... ... O V C. For an amount that the company estimates it will not collect. d. Several times during the accounting period. ܐ. . .. . . Search (Cª 5. Under the allowance method for uncollectible accounts, Bad Debts Expense is recorded a. When an individual account is written off. b. When the loss amount is known. Sat Apr 15 3:04 PM 6. A company sells an asset that originally cost $150,000 for $50,000 on December 31, 2016. The accumulated depreciation account had a balance of $60.000 after the current year'e Cost-Volume-Profit Analysis The Effect Of Prepaid Taxes On Assets Debenture Valuation And Liabili... 90 77

Required information Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 (The following information applies to the questions displayed below.) Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $38,000 of merchandise on credit from Locunt, terma n/3D. Kay 19 Replaced the Apri1 20 account payable to Locust with a 90-day, 8, $35,000 note payable along with paying $3,000 in canh. July 8 Borrowed $60,000 canh from KBR Bank by signing a 120-day, 10, 560, 000 note payable. Paid the amount due on the note to Locunt at the maturity date. Paid the amount due on the note to NBR Bank at the maturity date. Noveaber 28 Borroved $33,000 caah from Pargo Bank by signing a 60-day, 7, $33,00o note payable. Decenber 31 Recorded an adjunting entry for accrued interest on the note to Targo Bank. Year 2 Paid the anount due on the note to Pargo Bank at the naturity date. Problem 9-1A (Algo) Part 4 4. Determine the…

Pachel corpolatian re Ports the per teining vecevicable Days Past Due 3-60 followinginfamethon to iti accounts cuNent 1-30 ever90 $2500 1200. $2000 Jhe companys cradit depaltment Plovided the following statement estima ter vegarding the pocent of occounts enfc ted to eventuallyy be writtenoff form. each category current veceveiNable receivables -30 days past due listed aboue aut standing rELENables 31-ho days past due 16 feceivables 6L-G0 days Pajt due receivable Cuer 20 days due. 90 Recold the company's uncollectible account afsuming it hal expense fredit balance for in its llawance Deuhtful accounts pror to the necessaty maling endjustment.

DESCRIPTION OF TRANSACTION DEBIT (-) $150.40 (IFANY) CREDIT (+) %24 DATE BALANCE (-) %24 %24 NUMBER 959 4,810.00 -150.40 4,659.60 -69.60 2015 7/7 AT+T 960 7/15 Staples 69.60 4,590.00 845.00 7/19 Deposit 845.00 5,435.00 -518.38 961 7/20 West Electric 518.38 4,916.62 -388.04 962 7/24 Bank of America 388.04 ok 4,528.58 445.40 7/29 Deposit 445.40 nt $ 4,973.98 ences BANK STATEMENT Checks Balance $4,810.00 4, 659.60 5,504.60 5,116.56 5, 101.16 Date Deposits 7/1 balance $150.40 7/18 7/19 $845.00 7/26 388.04 7/30 15.40 SC BANK RECONCILIATION %24 5101.16 2$ 4973.98 Bank balance Lee.com checkbook balance Add: 445.40 Deposit in transit Deduct: Deduct: 15.40 Outstanding checks (total) Service charge %24 $ 4958.58 Ending bank balance Ending checkbook balance Next > < Prev 3 of 4

MC Qu. 12-154 Southview Company's interest revenue for the... Southview Company's Interest revenue for the period is $14,600 and the beginning and ending Interest recelvable balances are $1,620 and $6,200, respectively, cash recelved for Interest Is: Multiple Cholce $8.400. $10,020. $14,600. $19,100.

ll uil 12:33 0.00 KB/s cember 31, 2019. Problem Set A (Figure)The following is the adjusted trial balance data for Nino's Pizzeria as of December 31, 2019. PIZZERIA Adjusted Trial Balance Year Ended December 31, 2019 Debit Credit Cash $ 775,984 Accounts Receivable 45,688 Buildings Merchandise Inventory 200,460 135,624 Accounts Payable $437,880 Common Stock 410,542 Sales 555,696 Interest Revenue 84,652 86,900 Rent Revenue Sales Salaries Expense 24,500 Office Supplies Expense 6,270 Sales Discounts 102,890 Interest Expense Sales Returns and Allowances 4,577 105,854 Cost of goods sold Rent Expense 122,853 20,000 Depreciation Expense: Office Equipment Insurance Expense Advertising Expense 10,555 2,780 17,635 Totals $1,575,670 $1,575,670 A. Use the data provided to compute net sales for E Previous: Discuss and Record Transactions Applying the Two Commonly Used Freight-In Methods Next: Appendix: Analyze and Record Transactions for Merchandise Purchases and Sales Using the Periodic Inventory…

APPLICATION Inemusob osvuos srit suodo znaltzaup sni 1. Dahl Accounting is a firm owned by Barb E. Dahl. The accounts for the firm are as follows: modt fast Bank Advertising Expenseusealedi A/R-various Supplies Office Equipment Automobile A/P-various Transactions Oct. 2 Mr. Leonardi Journalize the following transactions, using the general journal pages provided. Calculate and add the HST on all sales and purchase transactions. Do not provide explanations and ignore the page number and the P.R. column. 12 10 18 6 7 20 22 24 30 31 31 HST Recoverable HST Payable B. Dahl, Capital B. Dahl, Drawings W.d Fees Earned (ham S) Interest Earned de arit bouzzlesw or W Bank Charges Car Expense Office Expense Rent Expense Wages Expense Cash Sales Slip No. 102 to S. Stewart, $102.50 plus H.S.T. beneben divise noitsisqoq x Sales Invoice No. 617 to Jack Morrison, $250.90 plus H.S.T.. SSSSSSS TH SSSSS :IstoT Cheque Copy JAMRUOL JAFEVED No. 910 to Industrial Suppliers, $500.00 on account. Cash Receipt…

Chapter 8 Questions to practice BE8-1 Presented below are three recei\ailes transactions. Indicate whether these recei\. ables are reported as accounts recei\able, notes recei\-able, or other receivables on a state- ment of6nancial position. (a) Sold merchandise on account forW64,000,000 to a customer. (b) Received a promissory note ofW57,000,000 for senicn perfonned. (c) Ad\-anced W8,000,000 to an employee.

9- FABM7 - Trial mle Ba What's New Directions: ldentily the noarmal account balance of tht following accounta, Write your answerB on a separate sheet of paper. 1. Snlaries Expense 2. Canh 3. Supplica 4. Furmitur. S. Accoutits Payable 6. Makisig. Drawings 7. Buliding a. Makisig, Capitul 9. Professional Fees 10, Service Revenue 11. Accounta Recelvable 12. Notrs Peyable 13. Land 14. LanEundry Revenues 15. Uriearned Servica Revenuen II

Problem 4-10 (AICPA Adapted) Rapture Company had the following information for eurrent year relating to accounta receivable: 13000 50000 4.750.000 125.000 Accounts receivable, January 1 Credit eales Collectiona from customers, excluding recovery Accounta written off Collection of accounta written off in prior year. customer credit waa not reestablished Eatimated uncollectible receivables per aging at December 31 25.000 165 000 What is the balance of accounta receivable, before allowane for doubtful accounts, on December 317 a. 1,825,000 b. 1,850,000 c. 1,950,000 d. 1,990,000

OkyOTcw/a/MjUwNDEyNDM20TEx/details Particulars Credit (RM) 48,400 Debit (RM) Capital Drawings Trade receivables Trade payables Sales Purchases Sales returns Purchases retums Wages and salaries Discounts allowed Discounts received Provision for doubtful debts Insurance Inventory as at 1 September 2018 Utilities 3,500 9,000 12,500 40,400 31,000 300 250 5,600 120 200 300 700 2,400 950 350 10,000 3,000 20,000 Rates Premises Fixtures and fittings Motor van Cash in hand Cash at bank TOTAL 330 14,800 102.050 102.050 Additional information as at 31 August 2019: i. Inventory as at 31 August 2019 amounted RM3,300 ii. An entity from whom there is accounts receivables of RM200 was unable to settle his debt and this amount is to be written off as bad debts. iii. The provision for doubtful debts is 1% of the outstanding trade receivables. iv. The owner took RM100 worth of goods from the business for his own use Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year…

A e Y ll 48% A 06:48 Vo) LTE Question 3/10 1 point A company reports Accounts Receivable of $5,000 on its balance sheet at 12/31/2012. Its Allowance for Doubtful Accounts on 12/31/2012 is $500. What is the total amount owed by customers at 12/31/2012? $4,500 $0 $5,000 $500 $5,500 NEXT

QUESTION 1 2020 Net credit sales Estimate of doubtful debts Allowance account credit balance Gross Accounts receivable $100,000. 2% of net credit sales $1,800 before the estimate was made $40,000. Required: Prepare the adjusting entry to record bad debts expense for 2020 using the percentage of sales method. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). In BIUS Paragraph Arial 10pt k Save and Submit to save and submit. Click Save All Answers to save all answers. !!!

4G Vo) .l i 15:42 u. ♡ LTE2 7, 15% 40 แบบฝึกหัดท้ายบท 3. H : Required 1. Use the preceding analysis to compute the estimated amount of uncollectible receivables. 2. Prepare the journal entry to record Nana Company estimated uncollectibles, assuming the balance in the Allowance for Doubtful Accounts prior to adjustment is: a. 0 b. $3,000 (Debit) c. $2,800 (Credit) da 8 (Estimating Bad Debts from Receivables Balances) The following information is extracted from the accounting records of the Shelton Corporation at the beginning of 2012: Accounts Receivable $63,000 Allowance for Doubtful Accounts 1,400 (Credit) During 2012 sales on credit amounted to $575,000, $557,400 was collected on outstanding receivables, and $2,600 of receivables were written off as uncollectible. On December 31, 2012, Shelton estimates its bad debts to be 4% of the outstanding gross accounts receivable balance. Required 1. Prepare the journal entry to record Shelton's estimate of bad debt expense for 2012. 2.…

Question Content Area After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $702,763 and Allowance for Doubtful Accounts has a balance of $22,123. What is the net realizable value of the accounts receivable? a. $702,763 b. $680,640 c. $724,886 d. $22,123

1 Problem PA5 3 Past Due Total Category Percentage Uncollectable Acct. Receivable Total Category Uncollectable 0-30 days 31-90 days Over 90 days Total Estimated Uncollectable Bad Debt $ $ 1,166,350.00 577,870.00 324,450.00 15% 6 33% ... $ 48% ... 8 ... 9 10 POST. 11 DATE DESCRIPTION REF. DEBIT CREDIT 1 20- 2 Dec. 12 13 31 12 14 3 3 15 4 16 5 15 17 16 18 31 7 19 8 18 20 9 19 21 10 10 22 11 11 23 12 31 12 24 13 13 25 14 14 26 15 15 27 16 16 28 31 17 17 29 18 18 30 19 19 31 20 20 32 21 21 33 34 35

! Required information Problem 11-1A (Algo) Short-term notes payable transactions and entries LO P1 [The following information applies to the questions displayed below.] Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $38,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 9%, $35,000 note payable along with paying $3,000 in cash. July 8 Borrowed $60,000 cash from NBR Bank by signing a 120-day, 11%, $60,000 note payable. _?____Paid the amount due on the note to Locust at the maturity date. Paid the amount due on the note to NBR Bank at the maturity date. November 28 Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 8%, $24,000 note payable. December 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 _______ Paid the amount due on the note to Fargo Bank at the maturity date. Problem 11-1A (Algo) Part 3 3.…

)) 18% O, Tue 2:47 PM A edugen.wileyplus.com WileyPLUS: MyWlleyPLUS | Help | Contact Us | Log Ou Weygandt, Accounting Principles, 13e FINANCIAL/MANAGERIAL ACCOUNTING (ACC 124/125/201/202 CALCULATOR STANDARD VIEW PRINTER VERSION 1 BACK NEXT Exercise 9-14 Vandiver Company had the following select transactions. Apr. 1, 2020 Accepted Goodwin Company's 12-month, 6% note in settlement of a $30,000 account receivable. July 1, 2020 Loaned $25,000 cash to Thomas Slocombe on a 9-month, 10% note. Dec. 31, 2020 Accrued interest on all notes receivable. Apr. 1, 2021 Received principal plus interest on the Goodwin note. Apr. 1, 2021 Thomas Slocombe dishonored its note; Vandiver expects it will eventually collect. Prepare journal entries to record the transactions. Vandiver prepares adjusting entries once a year on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account…

1. What amount should be reported as accounts receivable on December 31?a. 1,300,000b. 1,426,000c. 1,280,000d. 1,220,000 2. What amount should be reported as allowance for doubtful accounts on December 31?a. 120,000b. 200,000c. 250,000d. 170,000

14 - Entity A sold its registered $ 1000 at a rate of 4.60 TL at a rate of 4.65 TL. Which of the following accounts is correct in the journal entry to be made?A) 100 02 DOLLAR CASH ACCOUNT RECEIVABLE 4600 TLB) NoneC) 656 EXCHANGE LOSS ACCOUNT DEBTED 150 TLD) 100 01 TL CASH ACCOUNT RECEIVABLE 4.650 TL E) BORROWED 646 EXCHANGE PROFIT ACCOUNT 50 TL