EA15. Journalize for Harper and Co. each of the following transactions or state no entry required and explain why. Be sure to follow proper journal writing rules. A. A corporation is started with an investment of $50,000 in exchange for stock. B. Equipment worth $4,800 is ordered. C. Office supplies worth $750 are purchased on account. D. A part-time worker is hired. The employee will work 15-20 hours per week starting next Monday at a rate of $18 per hour. E. The equipment is received along with the invoice. Payment is due in three equal monthly installments, with the first payment due in Sixty days.

Accrued Wages Skiles Company's weekly payroll amounts to $10,000 and payday is every Friday. Employees work five days per week, Monday through Friday. The appropriate journal entry was recorded at the end of the accounting period, Wednesday, August 31, 2022. Required: What journal entry is made on Friday, September 2, 2022? For those boxes in which no entry is required, leave the box blank.

Please Complete all required and do not give images format

Caritas Publishing issues the Weekly Welder. The company's primary sources of revenue are sales of subscriptions to customers and sales of advertising in the Weekly Welder. Caritas owns its building and has excess office space that it leases to others. The following transactions involved the receipt of advance payments. Prepare the indicated journal entries for each set of transactions. 1) On September 1, 20X7, the company received a $48,000 payment from an advertising client for a 6-month advertising campaign. The campaign was to run from November, 20x7, through the end of April, 20X8. Prepare the journal entry on September 1, and the December 31 end-of-year adjusting entry. 2) The company began 20X7 with S360,000 in unearned revenue relating to sales of subscriptions for future issues. During 20X7, additional subscriptions were sold for $3,490,000. Magazines delivered during 20X7 under outstanding subscriptions totaled $3,060,000. Prepare a summary journal entry to reflect the sales…

How is the answer 720 and not 900? Help explain the concept for me to understand please

Bank 'n' Roll, Inc. pays its employees once a month and records the expense at the time of payment. On May 31, Bank 'n' Roll, Inc. paid its employees $10,000 for work performed in May. The entry to record the payment includes a (Check all that apply.) Check all that apply. debit to Cash for $10,000 credit to Wages Expense for $10,000 credit to Wages Payable for $10,000 debit to Wages Expense for $10,000 credit to Cash for $10,000

Record the following transactions for the Scott Company: Transactions: Nov. 4 Received a $6,500, 90-day, 6% note from Tim’s Co. in payment of the account. Dec. 31 Accrued interest on the Tim’s Co. note. Feb. 2 Received the amount due from Tim’s Co. on the note.   Required:   Journalize the above transactions. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places. Assume a 360-day year when calculating interest. CHART OF ACCOUNTS Scott Company General Ledger   ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Batson Co. 122 Accounts Receivable-Bynum Co. 123 Accounts Receivable-Calahan Inc. 124 Accounts Receivable-Dodger Co. 125 Accounts Receivable-Fronk Co. 126 Accounts Receivable-Miracle Chemical 127 Accounts Receivable-Solo Co. 128 Accounts Receivable-Tim’s Co. 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable-Tim’s Co. 141…

Sheridan Corporation had the following transactions during its first month of operations: 1. 2. 3. 4. 5. 6. 7. 8. Journalize the above transactions for Sheridan Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) 1. No. Account Titles and Explanation 2. 3. 4. 5. 6. Purchased raw materials on account, $96,900. Raw materials of $34,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,840 was classified as indirect materials. 7. Factory labor costs incurred were $199,500 of which $165,300 pertained to factory wages payable and $34,200 pertained to employer payroll taxes payable. Time tickets indicated that $165,300 was direct labor and $34,200 was indirect labor. Overhead costs incurred on account were $225,720. Manufacturing overhead was applied at the rate of 150% of direct labor cost. Goods costing $131,100 are still incomplete…

Following are some transactions and events of Business Solutions. February 26 The company paid cash to Lyn Addie for eight days' work at $140 per day. March 25 The company sold merchandise with a $2,500 cost for $3,100 on credit to Wildcat Services, invoice dated March 25. Required: 1. Assume that Lyn Addie is an unmarried employee. Her $1,120 of wages have deductions for FICA Social Security taxes, FICA Medicare taxes, and federal income taxes. Her federal income taxes for this pay period total $112. Compute her net pay for the eight days' work paid on February 26. 2. Record the journal entry to reflect the payroll payment to Lyn Addie as computed in part 1. 3. Record the journal entry to reflect the (employer) payroll tax expenses for the February 26 payroll payment. Assume Lyn Addie has not met earnings limits for FUTA and SUTA (the FUTA rate is 0.6% and the SUTA rate is 5.4% for the company). 4. Record the entries for the merchandise sold on March 25 if a 4% sales tax rate applies.…

Payroll Register and Payroll Journal Entry Mary Losch operates a travel agency called Mary’s Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The travel agency uses a payroll register, individual employee earnings records, and a general journal. Mary’s Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll data for each employee for the week ended March 22, 20—, are given. Employees are paid 1½ times the regular rate for working over 40 hours a week. Name No. ofAllowances MaritalStatus Total HoursWorked Mar. 16–22 Rate Total EarningsJan. 1–Mar. 15 Bacon, Andrea 4 M 44 $14.00 $6,300.00   Cole, Andrew 1 S 40 15.00 6,150.00   Hicks, Melvin 3 M 44 13.50 5,805.00   Leung, Cara 1 S 36 14.00 5,600.00   Melling, Melissa 2 M 40 14.50 5,945.00   Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2%. Medicare tax is withheld at the rate of 1.45%, and city…