(a2) - Your answer is partially correct. For Whispering Winds Co., post the entries passed on July 1 and December 31. (Post entries in the order of journal entries presented in the previous part.) 7/1 Prepaid Insurance 13,500 12/31 Adj. ✓ 6,750 Insurance Expense 12/31 Adj. 6,750 12/31 Adi. 6,750 eTextbook and Media List of Accounts. View Policies Show Attempt History Current Attempt in Progress On July 1, 2025, Whispering Winds Co. pays $13,500 to Ivanhoe Insurance Co. for a 1-year insurance contract. Both companies have fiscal years ending December 31. (a1)

(a2) - Your answer is partially correct. For Whispering Winds Co., post the entries passed on July 1 and December 31. (Post entries in the order of journal entries presented in the previous part.) 7/1 Prepaid Insurance 13,500 12/31 Adj. ✓ 6,750 Insurance Expense 12/31 Adj. 6,750 12/31 Adi. 6,750 eTextbook and Media List of Accounts. View Policies Show Attempt History Current Attempt in Progress On July 1, 2025, Whispering Winds Co. pays $13,500 to Ivanhoe Insurance Co. for a 1-year insurance contract. Both companies have fiscal years ending December 31. (a1)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter3: Review Of A Company's Accounting System

Section: Chapter Questions

Problem 10RE: Use the information in RE3-6, (a) assuming Ringo Company makes reversing entries, prepare the...

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(a) On March 1, journalize the entry to record the write-off, assuming that the direct write-off method is used. Refer to the Chart of Accounts for exact wording of account titles.PAGE 1JOURNALACCOUNTING EQUATIONDATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY12(b) On March 1, journalize the entry to record the write-off, assuming that the allowance method is used. Refer to the Chart of Accounts for exact wording of account titles.PAGE 1JOURNALACCOUNTING EQUATIONDATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY12
Transactions are first journalized and then posted to ledger accounts. In this exercise, however,your understanding of the relationship between the journal and the ledger is tested by asking you tostudy some ledger accounts and determine the journal entries that probably were made to producethese ledger entries. The following accounts show the first six transactions of Avenson InsuranceCompany. Prepare a journal entry (including a written explanation) for each transaction. Cash VehiclesNov. 1 120,000 Nov. 8 33,600 Nov. 30 9,400Nov. 25 12,000Nov. 30 1,400Land Notes PayableNov. 8 70,000 Nov. 25 12,000 Nov. 8 95,000Nov. 30 8,000Building Accounts PayableNov. 8 58,600 Nov. 21 480 Nov. 15 3,200Office Equipment Capital StockNov. 15 3,200 Nov. 21 480 Nov. 1 120,000
Use the information in RE3-6, (a) assuming Ringo Company makes reversing entries, prepare the reversing entry on January 1, and the journal entry to record the payment of the note on April 1; and (b) assuming Ringo does not make reversing entries, prepare the journal entry to record the payment of the note on April 1.
QUESTION 2 Study the following transactions that occurred during August 2022 for Renwick & Co. Aug 2 - Renwick & Co. sold 40 office desks costing $2,000 each, at a unit price of $4,500 to Shams Ltd. Terms: 2/10, n/30. Aug 7- Shams Ltd. Returned for full credit 6 of the desks acquired on August 2 because they were of the incorrect size and style. Aug 8 - Renwick & Co. returned the office desks to its inventory. Aug 9 - Renwick & Co. received payment by cheque from Shams Ltd. for 30 office desks. Aug 27 - Renwick & Co. received payment in cash from Shams Ltd. in full settlement for the remaining office desks acquired on August 2. Renwick & Co. uses the net method to record sales and cash discounts and the perpetual inventory system. You may copy and paste from this list: Accounts receivable Discount Interest income Bad debt expense Bank Cash Cost of Goods Sold COGS REQUIRED: Interest receivable Inventory Notes receivable Par Premium Sales discounts Sales discounts forfeited Sales returns…
A edugen.wileyplus.com W WileyPLUS Bb Return to Blackboard US US Weygandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Commun Help | System Announcements Problem 9-01A a-d (Video) At December 31, 2019, Ayayai Co. reported the following information on its balance sheet. Accounts receivable $965,100 Less: Allowance for doubtful accounts 79,700 During 2020, the company had the following transactions related to receivables. 1. Sales on account $3,692,700 2. Sales returns and allowances 49,600 3. Collections of accounts receivable 2,817,800 4. Write-offs of accounts receivable deemed uncollectible 89,600 5. Recovery of bad debts previously written off as uncollectible 27,350 Your answer is correct. Aceur me thatne neh diecouınte w ers Prepare the journal entries to record onch of tho0o fuo trnnanotiono
wo transactions were posted to the following customer account. NAME: Boogie Board Water WearADDRESS: 2340 Xtreme Surf Date Item Post. Ref. Debit Credit Balance July 1 Balance 805 6 Invoice No. 406 R42 645 1,450 24 Invoice No. 456 CR56 710 740 Describe each transaction and the source of each posting. July 6 Sold $_______on account to Boogie Board Water Wear. July 24 Cash of $_________ was collected from Boogie Board Water Wear.
Pls do the one that says “Enter the opening balances in the ledger accounts as at October 1, Write balance..” too with the send one using the templates Thank you!
The debits and credits from two transactions are presented in the following customer account: NAME Mobility Products Inc. ADDRESS 46 W. Main St. Date Item Post. Ref. Debit Credit Balance Aug. 1 Balance ✔ 540 Aug. 10 Invoice No. 59 CR24 103 437 Aug. 17 Invoice No. 64 R35 129 566 Select the choice that describes each transaction and the source of each posting. Date Action Invoice No. Posted From Journal page Aug. 10 fill in the blank 2 fill in the blank 4 Aug. 17 fill in the blank 6 fill in the blank 8
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