FNSACC321_322_421 Assignment-part-7

6 https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%252 Tp Inventor Training D. CHAP2 HOMEWORK A Saved 1 Karla Tanner opened a Web consulting business called Linkworks and completed the following transactions in its first month of operations. 10 April 1 Tanner invested $8e,000 cash along with office equipment valued at $26,000 in the company in exchange for common stock. 2 The company prepaid $9, c00 cash for 12 months' rent for office space. Hint: Debit Prepaid Rent for $9,000. 3 The company made credit purchases for $8,000 in office equipment and $3,60e in office supplies. Payment is due within 10 days. 6 The company completed services for a client and imnediately received $4,000 cash. 9 The company completed a $6,000 project for a client, who must pay within 30 days. 13 The company paid $11,600 cash to settle the account payable crented on April 3. 19 The company paid $2,400 cash for the…

DATE TRANSACTIONS Jan. 2 Purchased supplies for $14,000; issued Check 1015.   2 Purchased a one-year insurance policy for $16,800.   7 Sold services for $30,000 in cash and $20,000 on credit during the first week of January.   12 Collected a total of $8,000 on account from credit customers during the first week of January.   12 Issued Check 1017 for $7,200 to pay for special promotional advertising to new businesses on the local radio station during the month.   13 Collected a total of $9,000 on account from credit customers during the second week of January.   14 Returned supplies that were damaged for a cash refund of $1,500.   15 Sold services for $41,400 in cash and $4,600 on credit during the second week of January.   20 Purchased supplies for $10,000 from White’s, Inc.; received Invoice 2384 payable in 30 days.   20 Sold services for $25,000 in cash and $7,000 on credit during the third week of January.   20 Collected a total of $11,200 on account from…

DATE TRANSACTIONS Jan. 2 Purchased supplies for $14,000; issued Check 1015.   2 Purchased a one-year insurance policy for $16,800.   7 Sold services for $30,000 in cash and $20,000 on credit during the first week of January.   12 Collected a total of $8,000 on account from credit customers during the first week of January.   12 Issued Check 1017 for $7,200 to pay for special promotional advertising to new businesses on the local radio station during the month.   13 Collected a total of $9,000 on account from credit customers during the second week of January.   14 Returned supplies that were damaged for a cash refund of $1,500.   15 Sold services for $41,400 in cash and $4,600 on credit during the second week of January.   20 Purchased supplies for $10,000 from White’s, Inc.; received Invoice 2384 payable in 30 days.   20 Sold services for $25,000 in cash and $7,000 on credit during the third week of January.   20 Collected a total of $11,200 on account from…

ATE TRANSACTIONS Jan. 2 Purchased supplies for $14,000; issued Check 1015.   2 Purchased a one-year insurance policy for $16,800.   7 Sold services for $30,000 in cash and $20,000 on credit during the first week of January.   12 Collected a total of $8,000 on account from credit customers during the first week of January.   12 Issued Check 1017 for $7,200 to pay for special promotional advertising to new businesses on the local radio station during the month.   13 Collected a total of $9,000 on account from credit customers during the second week of January.   14 Returned supplies that were damaged for a cash refund of $1,500.   15 Sold services for $41,400 in cash and $4,600 on credit during the second week of January.   20 Purchased supplies for $10,000 from White’s, Inc.; received Invoice 2384 payable in 30 days.   20 Sold services for $25,000 in cash and $7,000 on credit during the third week of January.   20 Collected a total of $11,200 on account from credit…

DATE TRANSACTIONS Jan. 2 Purchased supplies for $14,000; issued Check 1015. 2 Purchased a one-year insurance policy for $16,800. Sold services for $30,000 in cash and $20,000 on credit during the first week of January. 12 Collected a total of $8,000 on account from credit customers during the first week of January. 12 Issued Check 1017 for $7,200 to pay for special promotional advertising to new businesses on the local radio station during the month. 13 Collected a total of $9,000 on account from credit customers during the second week of January. 14 Returned supplies that were damaged for a cash refund of $1,500. 15 Sold services for $41,400 in cash and $4,600 on credit during the second week of January. 20 Purchased supplies 20 Sold services for $25,000 in cash and $7,000 on credit during the third week of January. for $10,000 from White's, Inc.; received Invoice 2384 payable in 30 days. 20 Collected a total of $11,200 on account from credit customers during the third week of…

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What are the days to collect from customer?

J. Keith commenced business on 1 September, and had several special transactions during the month: Date Transactions     Sept 01   Keith contributed the following to the business: Premises $75,000, Cash $3,000, Mortgage on Premises $30,000 and Shop Fittings $3,000. Sept 09 Keith gave the business a Motor Vehicle valued at $5,000 to be used for delivering goods to customers. Sept 11 Stock costing $100 plus $10 GST was taken by Keith’s children. Sept 14 Surplus shelving, valued at $80 plus $8 GST, was taken by Keith for storing tools in his home garage. Task 8 Record journal entries from the above listed special transactions. General Journal – John Keith Date Particulars Debit Credit

Notes Receivable Crowne Cleaning provides cleaning services for Amber Inc., a business with four buildings. Crowne assigned different cleaning charges for each building based on the amount of square feet to be cleaned. The charges for the four buildings are $55,200, $49,800, $69,600, and $30,000. Amber secured this amount by signing a note bearing 10% Interest on June 1. Required: 1. Prepare the journal entry to record the sale on June 1. If an amount box does not require an entry, leave it blank. 188 2. Determine how much interest Crowne will receive if the note is repaid on December 1. 3. Prepare Crowne's journal entry to record the cash received to pay off the note and interest on December 1. If an amount box does not require an entry, leave it blank. ED

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I need this question answer general Accounting

Accounting Part 1: Due Thursday, April 7 During January, the following transactions were completed for Kennesaw Cleaners, Inc (KCI). 1 On January 1, KCI issued stock in exchange for $20,000 cash. 2 On January 2, KCI purchased a truck for $14,000, paying $2,000 cash down and signing a 5-year, 2% note for the remaining $12,000. 3 On January 3, KCI purchased cleaning supplies for $800 on account to be used over several months. 4 On January 5, KCI prepaid $2,400 for a one-year insurance policy. Coverage began on January 1. 5 On January 10, KCI sent invoices to customers amounting to $3,800 for completed cleaning services. 6 On January 15, KCI paid $1,600 for employee salaries for work performed in January. 7 On January 16, KCI collected $1,400 from customers billed on January 10. 8 On January 20, KCI collected $1,000 in advance from a customer for February cleaning services. 9 On January 25, KCI makes a cash payment on truck note for $500. 10 On January 31, KCI paid a cash dividend of…

26 The following transactions took place for Parker's Grocery. a. January 1 Loaned $55,000 to cashiers of the company and received back one-year, 9 percent notes. b. June 30 Accrued interest on the notes. c. December 31 Received interest on the notes. (No interest has been recorded since June 30.) d. December 31 Received principal on the notes. Required: Prepare the journal entries that Parker's Grocery would record for the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 Loaned $55,000 to cashiers of the company and received back one-year, 9 percent notes. Record the transaction. Note: Enter debits before credits. Date January 01, 2024 General Journal Debit Credit 7

What are the proceeds from the.note on july 15 ? Please solve this problem general accounting

Part 1 Instructions: Prepare all the journal entries necessary to record the transactions noted below. 1. Cash sales were received for December, which include the 5% sales tax that must be remitted to the state by the fifteenth day of the following month. (sales total $560,000) 2. On December 1, three delivery trucks were purchased for cash with a 5% sales tax. (trucks total $100,000) 3. A suit for breach of contract seeking damages of $3,000,000 was filed and legal counsel believes that an unfavorable outcome is probable. A reasonable estimate of the award to the plaintiff is between $1,000,000 and $2,250,000. No amount within this range is a better estimate of potential damages than any other amount. 4. A deposit was received for equipment rental. The deposit is returnable when equipment is returned. (deposit total $1,000) Debit Credit

19 Dec. Borrowed $28,000 from the bank for personal use. The loan carried an interest rate of 6% a year and the first payment was due on 19 January. Williamson signed a note payable to the bank in the name of the business. How would this be journaled, put on an income statment, balance sheet, and cash flow statment for december 31st?

Hi expert please give me answer general accounting

D. G. H. K. 3 During the last week of March, Siro Stereo's owner approaches the bank for a $125,000 loan to 4 be made on April 1 and repaid on June 30 with annual interest of 10%, for an interest cost of 5 $3,125. The owner plans to increase the store's inventory by $100,000 in April and needs the 6 loan to pay for inventory acquisitions. The bank's loan officer needs more information about 7 Siro Stereo's ability to repay the loan and asks the owner to forecast the store's June 30 cash 8 position. On April 1, Siro Stereo is expected to have a $12,000 cash balance, $121,500 of 9 accounts receivable, and $90,000 of accounts payable. Its budgeted sales, merchandise 10 purchases, and various cash disbursements for the next three months follows: 11 June April 350,000 12 May 13 Sales 500,000 550,000 14 Mdse purchases 15 Other cash disbursements: Рayroll Rent 250,000 200,000 190,000 16 22,500 30,000 37,500 17 12,000 12,000 12,000 18 Other cash expenses 9,000 13,500 16,500 125,000 19…

Please given answer Accounting question

PROBLEM SOLVING JOURNAL ENTRIES Mr. Romero Carodam established a repair shop on January 3 of the current year. A summary of the January transactions is presented below: Jan. 3 5 7 8. 10. 12 15 16 NNNNO 20 25 27 30 Invested P50,000 in cash deposited at PCI Bank in the name of the Paid a monthly rental amounting to P4,000. Purchased equipment for P8,000 cash. Bought office supplies, P2,000. Collected P15,000 from customers in various repair services. Incurred P2,000 of advertising costs on account. Paid employees salaries P7,000. Withdrew P3,000 cash for personal use. Rendered repair service on account to customers, P12,000 Paid telephone bill, P1,500 Paid light and water bills, P1,500 Collected P10,000 for services billed on January 20. business. Required: Journalize the transactions using the following accounts titles. Cash, Accounts Receivable, Office Supplies, Equipment, Accounts Payable and R. Carodam, Capital. R. Carodam Drawing, Service Income, Rent Expense, Advertising Expense,…

Notes Receivable Crowne Cleaning provides cleaning services for Amber Inc., a business with four buildings. Crowne assigned different cleaning charges for each building based on the amount of square feet to be cleaned. The charges for the four buildings are $87,600, $82,200, $102,000, and $62,400. Amber secured this amount by signing a note bearing 10% interest on June 1. Required: Question Content Area 1.  Prepare the journal entry to record the sale on June 1. If an amount box does not require an entry, leave it blank. blank   - Select - - Select -     - Select - - Select -   Question Content Area 2.  Determine how much interest Crowne will receive if the note is repaid on December 1.$fill in the blank 59d6dd028fbe01b_1   Question Content Area 3.  Prepare Crowne’s journal entry to record the cash received to pay off the note and interest on December 1. If an amount box does not require an entry, leave it blank. blank   - Select - - Select…

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