Exercise 4Performs a table in MS Excel to post the following transactions to the general journalusing double-entry system rules.February2Heavy equipment was purchased for$35,000.3$150 in gasoline was paid for heavyequipment.4Excavation work was carried out for$2,000.Construction materials were purchased for$3,000.Advertising expenses were paid for $500.11A personal withdrawal was made in theamount of $700.12Employees were paid wages for $5,800.

The entries for given transactions in the general journal using double entry system rules are passed…

Performs a table in MS Excel to post the following transactions to the general journal using double-entry system rules. February 2 Heavy equipment was purchased for $35,000. 3 $150 in gasoline was paid for heavy equipment. Excavation work was carried out for $2,000. 6 Construction materials were purchased for $3,000. Advertising expenses were paid for $500.

Performs a table in MS Excel to post the following transactions to the general journal using double-entry system rules. February 2 Heavy equipment was purchased for $35,000. 3 $150 in gasoline was paid for heavy equipment. Excavation work was carried out for $2,000. 6 Construction materials were purchased for $3,000. Advertising expenses were paid for $500.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter18: Acquiring Capital For Growth And Development

Section: Chapter Questions

Problem 1AP

See similar textbooks

Similar questions

Journal entry transactions- double entry system 1) Machinery is purchased for 196.000 TL + %10 VAT , Check is issued . Transportation and Installations invoice is 28.000 TL + %10 VAT half cash paid and half note issued.
An involce for $10,000 dated September 10 with terms 3/10, 12/20, n/30, EOM is recelved in the mail on September 25. A payment of $4000 is sent on October 11. What is the outstanding balance? Multiple Choice $5940.00 $5939.09 $6000.00 $5920.00 $5918.37
Kimmel, Financoial Accounting, 8e Hein I Sestum Announcements CALCULATOR PRINTER VERSION 4BACK NEXT riel Exercise 9-2 hendan Company incurs these expenditures in purchasing a truck: cash price $27,170, accident insurance (during use) $2,310, sales taxes $1,270, motor vehicle license $460, d painting and lettering $2,170. at is the cost of the truck? cnst of the truck if you would like to Show Work for this question: Open Show Work TO TEXT INTERACTIVE TUTORIAL Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER
含 m Ne document/d/11qn3JrhFphZqFZrCf7vTe1m5k6CzPzQTI7VGITIH7Lg/edit Checking Register Practice D ☺ Tools Add-ons Help Last edit was 4 hours ago al text Arial BIUA c田回,三三三三三 11 + 1 5. Enter the following transactions for the Month of September. You have a beginning balance of $1500.00 $456.23 September 2 September 4 September 7 September 11 Deposit Check #123 Rick's Running Shop -- Shoes Check #124 Jacob' Jamboree -- New Outfit Check # 125 JCP Department Store - Furniture $94.67 $45.23 $398.99 ATM Withdrawal (($2.00 Service Fee) Check # 126 High Point Clothing Store – Pet Clothes $50.00 $124.76 $498.75 September 13 September 14 September 16 September 21 September 25 September 27 Deposit Check # 127 Abigail's Archery Shop -- Arrows $185.99 Check # 128 Denise's Dance Studio -- Dance Lessons $203.77 Check #129 Michael's Pet Store -- Dog Food $49.99 September 30 Deposit 501.33 Payment / Debit Number or Deposit / Code Date Transaction Description Fee Credit Balance Beginning Balance 237.47…
Fia Tell me what you want to do Online Link Bookmark Cross- Videos reference Media H Links -- Document! - Word Comment CA Comments IN Header Footer Page Number Header & Footer HORA3.14.56 A A Text Quick WordArt Dro Box Parts Cap Text During the fiscal year ended 31 December, Black Crows Ltd carried out the following transactions involving notes payable: Aug. 6 Borrowed $11,200 from The Doors Ltd issuing to them a 45-day, 5% note payable. Sep. 16 Purchased office equipment from Sofa Ltd. The invoice amount was $16,800 and Sofa Ltd agreed to accept as full payment a 5%, 3-month note for the invoice amount. Sep. 20 Paid the note payable due to The Doors Ltd plus accrued interest. Nov. 1 Borrowed $235,000 from Bank of Cyprus at an interest rate of 5% per annum; signed a 90-day note payable. Dec. 1 Purchased merchandise in the amount of $3,000 from Helios Ltd. Gave in settlement a 90-day interest-bearing note at 6%. Dec. 16 The $16,900 note payable to Sofa Ltd matured. The company paid the…
Journalize perpet luutu a variety purpetual lnventory system. During September, these entries. curzed. (LO 2, 3), AP 3ochased caiculators from Dragoo Co. at a total cost of $1,650, terms n/30. PNSeight of $50 on calculators purchased from Dragoo Co. ured caiculators to Dragoo Co. for $66 credit because they did not at pecifications Sld calcula s costing $520 for $690 to Fryer Book Store, terms n/30. Crnted credit of$45 to Fryer Book Store for the return of one calculator hai ws tst sheed. The calculator cost $34. Scldicul e onting $570 for $760 to Heasley Card Shop, terms n/30. 14 20 Instructions Journalize the Septembe: ansactions. E5-3 The following transactions are for Alonzo Company. 1. On December 3, Alonzo Company sold $500,000 of merchandise to Arte Co., terms 1/10, n/30. The cost of the merchandise sold was $330,000. 2. On December 8, Arte Co. was granted an allowance of $25,000 for merchandise purchased on December 3. 3. On December 13, Alonzo Company received the balance due…
Accounting The warrant for a department for Item 2 for the first quarter of 2012 was GHC120,000 o 3rd Jan, L.P.O was issued for Stationery costing GHC20,000 • 6th Jan, service order was made for the repairs of air conditioners at GHC 8,000 o 15th Jan, Cleaning contract was made with chief cleaners It for GHC 3,000 20th Jan, 80% of the stationery was delivered at invoice of GHC17,000 • 30th Jan, air con was repaired at invoice of GHC7,500. • 31st Jan, cleaning bill was same as agreed. Prepare the vote ledger for the month of January
Weygandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community College Help I System Announcements CALCULATOR PRINTER VERSION 4 ВАСК NEX Exercise 9-04 a-f (Part Level Submission) At the beginning of the current period, Cheyenne had balances in Accounts Receivable of $286,000 and in Allowance for Doubtful Accounts of $9,900 (credit). During the period, had net credit sales of $890,000 and collections of $845,500. It wrote off as uncollectible accounts receivable of $6,000. However, a $4,000 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $24,800 at the end of the period. (Omit cost of goods sold entries. (a - d) (a) Prepare the entries to record sales and collections during the period. (b) Prepare the entry to record the write-off of uncollectible accounts during the period. (c) Prepare the entries to record the recovery of the uncollectible account during the…
Home * CengageNOWv2 | Online teachin x "takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Schedule of Cash Collections of Accounts Receivable Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each of the first three months of operations are as follows: January $210,000 February 300.000 March 440,000 All sales are on account. 60% of sales are expected to be collected in the month of the sale, 35% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February, and March. Pet Supplies Inc. Schedule of Cash Collections from Sales For the Three Months Ending March 31 January February March January sales on account: Collected in January Collected in February Collected in March February sales on account: Collected in February Collected in March March sales on account: Collected in March Total cash…
Parts wriiten Subparts to be solve are the ones to be solved Question Requirement 1For each of the following transactions make the required entries in the General Journal:(See the General Ledger tab in the workbook Chapter 03 b - Problem 3-1 Forms for the accounts in OPJ’s accounting system.)Feb 01 Take $4,000 cash out of Big Bank to pay for February’s warehouse rent.Feb 04 Sale of inventory to a customer – selling price $62,000 – cost of inventory sold $16,000 – customer paid cash which was deposited in Big Bank.Feb 07 Take $10,000 cash out of Little Bank to pay employees for wages they have earned.Feb 15 Sale of inventory to a customer – selling price $88,000 – cost of inventory sold $22,000 – customer will pay in the future.Feb 18 Sale of inventory to a customer – selling price $110,000 – cost of inventory sold $28,000 – customer pays $40,000 cash which is deposited in Little Bank – customer will pay for the remaining amount of the sale in 30 days.Feb 22 Purchase additional…
A ezto.mheducation.com sijon 17A - Connect Data_Sales.xlsx: fa21cob204 Computer Information Systems Dashb on 1-7-6A - Connect Saved Help The accounts receivable balance for Renue Spa at December 31, Year 1, was $86,000. Also on that date, the balance in the Allowance for Doubtful Accounts was $2,500. During Year 2, $1.900 of accounts receivable were written off as uncollectible. In addition, Renue unexpectedly collected $130 of receivables that had been written off in a previous accounting period. Services provided on account during Year 2 were $211,000, and cash collections from receivables were $212,936. Uncollectible accounts expense was estimated to be 1 percent of the sales on account for the period. Required a. Record the transactions in general journal form and post to T-accounts. b. Based on the preceding information, compute (after year-end adjustment): (1) Balance of allowance for doubtful accounts at December 31, Year 2. (2) Balance of accounts receivable at December 31,…
Document2 - Word O Search (Alt+Q) eferences Mailings Review View Help Aav Ap 三 m、新. AaBbCeDd AaBbCcDd AaßbC AaBbCcC AaB AaBbCcD A E E- A - B 1 Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Рaragraph Styles The large forward-facing statues in Job 3 sold at the following prices: 900 large forward-facing statues - $150/ statue Golden Wolves Statue Company would like to stop manufacturing the small and large profile statues and only sell the large forward-facing statue. The company's contribution format income statement for sales of this statue in 2017 is given below assuming that all fixed expenses are now assigned to this statue: Total Per Unit % of Sales Sales (900 units) Variable Expenses $135,000 $11,985 $150.00 100% 13.32 ? % Contribution Margin $123,015 $18,535 $104,480 $136.68 ? % Fixed Expenses Net Operating Income Step 1: Compute Golden Wolves Statue Company's contribution margin ratio and variable expense ratio. Step 2: Compute Golden Wolves Statue Company's break-even…