My text book is  Hospitality Industry Financial Accounting (4th edition). I am in chapter 12 -- CURRENT LIABILITIES AND PAYROLL now.  There is a question asks me to do two tasks. 1. Prepare the necessary journal entry to record the payroll of Hotel Properties, Inc., on February 15, 20x1. 2. Prepare the journal entry that would be made on the date the payroll was actually paid. The scenario is the following: You have been asked to prepare the entry to record the payroll on February 15, 20x1, for Hotel Properties, Inc. The gross wages are $8,000 for administrative salaries and $6,000 for sales salaries. The federal income tax rate is 28 percent, the state income tax rate is 4.6 percent, and the FICA rate is 7.65 percent for all employee. All wages are subject to these taxes. In addition to taxes withheld, the employer has withheld $128 for the employees' contribution to a health insutance plan.

You work as a freelance accounting professional and have been recently engaged by the auditors of Life-Positive Inc. for an assignment. In examining the company’s records, you have extracted the following information:   Life-Positive’s Account Balances 2021 ($) 2022 ($) Accounts Payable 24,600.00 21,250.00 Accounts receivable 15,700.00 12,340.00 Cash 23,450.00 28,600.00 Cost of goods sold 19,700.00 23,000.00 Depreciation 3,090.00 4,590.00 Dividends 5,800.00 10,800.00 Interest 2,340.00 2,890.00 Inventory 7,050.00 8,640.00 Long-term debt 28,000.00 30,000.00 Net fixed assets 41,500.00 48,000.00 Other expenses 2,400.00 2,800.00 Sales 58,000.00 62,500.00 Short-term Notes Payable 2,890.00 2,340.00 Shares outstanding 85,000.00 90,000.00   Note: The tax rate is 32% Required: 1. Prepare a balance sheet for 2021 and 2022 for the company, clearly showing information about…

I need prepare a journal entry with this information    1)The amount of $ 300.00 of the prepaid rent was used. 2) The amount of $ 200.00 of the prepaid insurance was used. 3) The $ 100.00 amount of depreciation expense was posted. 4) $ 400.00 was paid from the checking account in the payment of basic services (utilities). 5) A customer service was performed for $ 2,000.00 and the customer paid cash to the account of checks. 6) A team credit was purchased for $ 5,000.00. 7) The $ 300.00 phone bill was paid from the checking account. 8) A job was performed on a credit customer for $ 8,000.00. 9) There was a maintenance expense of $ 200.00 and it was paid in cash from the checking account. 10) A car was purchased for business use with a value of $ 10,000.00 of which was paid $ 2,000.00 in cash and the remainder on credit. 11) A payment was made to a debt for $ 1,000.00 in cash. 12) A customer was provided a service on credit for the maintenance of his vehicle for $ 600.00.

Could anyone explain this question: Washington Corp. purchased a 24-month insurance policy on March 1, 20X6 for $480. At the time of the purchase, the "Insurance Expense" account was debited and the "Cash" account was credited for the full $480. How would you write this journal entry?

Hawaiian Corporate Holidays arranges events for large corporations and trusts. It books hotel rooms, airline tickets, transportation and any other venues a company requests. It normally bills the companies ahead of the event, recording the invoice as unearned revenue. Once the event is complete, an entry is made to reclassify the amount from unearned revenues to Airline Sales or Event Sales.     Record the following transactions in the general journal using the account names shown in the Chart of Accounts (page 3). Skip a line between each entry. You do not need to include explanations.   Do not input general ledger account numbers in the Post Ref column of the journal until you post the journal entry to the ledger.   Mar 1     You have recently formed a corporation called Hawaiian Corporate Holidays (HCH).  You invest $40,000 in a checking account in the company’s name at Bank of Hawaii.  Since the company is a corporation, it issues you 8,000 shares of $5 par value common stock in…

Your manager has asked that you create the monthly financial statements for ABC Company. They gave you the following account numbers for June 31, 2018.   Accounts Payable 3000 Cash 26,000 Owner’s Capital 15,000 Advertising Expense 3,000 Sales Revenue 40,000 Office Supplies 1,500 Wages Expense 10,000 Notes Payable 6000 Rent Expense 5,000 Office Equipment 4,000 Accounts Receivable 12,000 Owner’s Withdrawals 2,500   create the: Income Statement Balance Sheet Statement of Owner’s Equity. In addition to using the accounts above, be sure to use proper format.   Check your work! A Balance Sheet total of $43,500 will mean you have completed all transactions perfectly

On 9/1, Bugsy Pest Control receives $12,000 in advance to provide provide pest control services to a client over the next 4 months. When the business transaction is recorded on 9/1, what amount, if any, would be recorded for Service Revenue? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 ASUS f5 E3 f6 [X f8 f9 团 f10 f11 %24 4 & 5 7 8. Y U F G J K 因 6 近

The transactions below needs to be journalized. Two accrual transactions and two deferral transactions. I need help with this please and thank you. Please include an explanation of what was done.  Accruals: 1. On March 30, 2021 Ortiz LLC provided accounting reservices for Beker Law firm and sent them a bill for $5,000. Payment has not been received to this day. 2. Store supplies of $200 are on hand. The supplies account shows a $1,900 balance. Deferrals: 1. On April 1, 2021. ORTIZ LLC paid $12,000 for a one-year insurance Policy.  2. On February 1, 2021 . ORTIZ LLC received $20,000 for accounting services for 1 year.

i need the answer of question 4 and 5 and 6  regards,

6. Before closing the books for a fiscal period, you should print- a. reports that provide sufficient detail to create new company files if necessary b. all the reports available through Sage 50 Accounting C. all the reports in the financials section of the reports menu d. all of the management reports for the business 7. From the supplier aged summary report you can learn – la. the unpaid balance for each invoice b. the total owing to each supplier c. the due date for each outstanding invoice d. which invoices are fully paid 8. Choosing Restore from the home window file menu will - a. restore a compressed backup file to a working data file b. restore the size of the window you are currently working in c. delete the changes from your current work session and restore the data file from your previous session d. restore the classic view home window from an enhanced view module window