AccountCashAccounts ReceivableEquipmentBusesNotes PayableGolden Nursery SchoolTrial Balance1/31/2011Accounts PayableT. Kuo, CapitalRequirementsDrBalance2,0701,7001,04017,40022,210i.Trial Balanceii.Income Statementiii.Statement of Equityiv. Balance SheetCr15,0001,6405,5701.Prepare Journal EntriesII.Prepare T accountsIII.Generate ending balances in T accountsIV.Prepare22,210February TransactionsDateDescriptionPaid this month's rent,Received fees for this month's servicesPurchases supplies on accountRe-imbursed bus driver for gasOrdered playground equipmentMade a payment on accountReceived payments from customer on accountBilled customers who had not yet paid for this month's servicesPaid for supplies purchased on 2/2Purchased and received playground equipment ordered on 2/6 forcashPurchsed equipment on accountPaid this month's utility billReceived payment for the month's services from customers previouslybilled2-Feb3-Feb4-Feb5-Feb6-Feb8-Feb9-Feb10-Feb11-Feb13-Feb17-Feb19-Feb22-Feb26-Feb Paid part-time assistants for services27-Feb Purchased gas and oil for bus on account28-Feb Made a cash withdrawlAmount40065085401,0001701,2007001,000290145500460325200

Hi studentSince there are multiple subparts asked, we will answer only first three…

Account Golden Nursery School Trial Balance 1/31/2011 Cash Accounts Receivable Equipment Buses Notes Payable Accounts Payable T. Kuo, Capital Requirements Dr Balance 2,070 1,700 1,040 17,400 22,210 Cr 15,000 1,640 5,570 22,210 1.Prepare Journal Entries II.Prepare T accounts III.Generate ending balances in T accounts February Transactions Date Description Paid this month's rent, Received fees for this month's services Purchases supplies on account Re-imbursed bus driver for gas Ordered playground equipment Made a payment on account 2-Feb 3-Feb 4-Feb 5-Feb 6-Feb 8-Feb 9-Feb Received payments from customer on account 10-Feb Billed customers who had not yet paid for this month's services 11-Feb Paid for supplies purchased on 2/2 Purchased and received playground equipment ordered on 2/6 for 13-Feb cash 17-Feb Purchsed equipment on account 19-Feb Paid this month's utility bill 22-Feb Received payment for the month's services from customers previously billed 26-Feb Paid part-time assistants for services 27-Feb Purchased gas and oil for bus on account 28-Feb Made a cash withdrawl Amount ******** 1,000 1,200 1,000 290 145 500 460 325 200

Account Golden Nursery School Trial Balance 1/31/2011 Cash Accounts Receivable Equipment Buses Notes Payable Accounts Payable T. Kuo, Capital Requirements Dr Balance 2,070 1,700 1,040 17,400 22,210 Cr 15,000 1,640 5,570 22,210 1.Prepare Journal Entries II.Prepare T accounts III.Generate ending balances in T accounts February Transactions Date Description Paid this month's rent, Received fees for this month's services Purchases supplies on account Re-imbursed bus driver for gas Ordered playground equipment Made a payment on account 2-Feb 3-Feb 4-Feb 5-Feb 6-Feb 8-Feb 9-Feb Received payments from customer on account 10-Feb Billed customers who had not yet paid for this month's services 11-Feb Paid for supplies purchased on 2/2 Purchased and received playground equipment ordered on 2/6 for 13-Feb cash 17-Feb Purchsed equipment on account 19-Feb Paid this month's utility bill 22-Feb Received payment for the month's services from customers previously billed 26-Feb Paid part-time assistants for services 27-Feb Purchased gas and oil for bus on account 28-Feb Made a cash withdrawl Amount ******** 1,000 1,200 1,000 290 145 500 460 325 200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The activity on Denise Hellings' Sears account for one billing period is shown below. Find the average daily balance and the finance charge if the billing period is March 1 through March 31, the previous balance was $153.98, and the annual simple interest rate is 21%. (Round your answers to the nearest cent.) March 5 payment $20.00 March 17 tools $38.34 average daily balance $ finance charge $
Good day, please may you help me with accounting debtors journal and allowances on Nerina traders a gift shop situated in Illovo. debtors journal headings day,details,debtors controloutput vat,sales debtors allowances headings day,debtors control,input vat ,sales return
please make your answers clear
Try Yourself - Question 2 Consider the following purchase history during October: Date Balance # of Days October 1 $110 8 October 9 $150 5 October 14 $260 8 October 22 $347 7 October 29 $612 3 The APR for this card is 16.45%. If the balance is not paid within the grace period, what is the total owed to the credit card company for this month? A. $261 B. $869 C. $616 D. $612 E. $704
create a t account for this month
Use the unpaid balance method to find the finance charge on the credit card account for April. The starting balance from the previous month is $200. The transactions on the account for the month are given in the table to the right. Assume an annual interest rate of 18% on the account and that the billing date is April 1st. ..... Date Transaction April 3 Charged $125 for a coat April 11 Made payment of $142 April 21 Charged $34 for DVDs April 28 Charged $25 for groceries The finance charge for the month of April is $enter your response here.
Francisco Company has 10 employees, each of whom earns $2,800 per month and is paid on the last day of each month. All 10 have been employed continuously at this amount since January 1. On March 1, the following accounts and balances exist in its general ledger. a. FICA-Social Security Taxes Payable, $3,472; FICA-Medicare Taxes Payable, $812. (The balances of these accounts represent total liabilities for both the employer's and employees' FICA taxes for the February payroll only.) b. Employees' Federal Income Taxes Payable, $7,000 (llability for February only). c. Federal Unemployment Taxes Payable, $336 (liability for January and February together). d. State Unemployment Taxes Payable, $3,024 (lability for January and February together). The company had the following payroll transactions. March 15 Issued check payable to Swift Bank, a federal depository bank authorized to accept employers' payments of FICA taxes and employee income tax withholdings. The $11,284 check is in payment of…
Journal entry worksheet The Krug Company collected $16,200 rent in advance on November 1, debiting Cash and crediting Unearned Rent Revenue. The tenant was paying 12 months’ rent in advance and occupancy began November 1. Note: Enter debits before credits. Transaction General Journal Debit Credit a.
The activity on Denise Hellings' Sears account for one billing period is shown below. Find the average daily balance and the finance charge if the billing period is March 1 through March 31, the previous balance was $152.72, and the annual simple interest rate is 21%. (Round your answers to the nearest cent.) March 5 payment $20.00 March 17 tools $35.43 average daily balance $ finance charge $
A. March 1, paid interest due on note, $2,900 B. December 31, interest accrued on note payable, $4,350 Prepare journal entries to record the above transactions. If an amount box does not require an entry, leave it blank. Mar.1 Dec. 31 Create a T-account for Interest Payable, post any entries that affect the account, and tally the ending balance for the account (assume Interest Payable beginning balance of $2,900). Interest Payable Beginning Balance Balance
to Financial Accounting / FINAL EXAM ACCT101 FALL 2020-2021 Muscat Company Paid R.O 4, 000 on balance owed for Account Payable incurred last month. Which of the following journal entries is recorded correctly and in the standard format? Select the correct answer: ion Select one: O a. DEBIT Cash OMR 4,000 and CREDIT Account Payable OMR 4,000 O b. DEBIT Account Payable OMR 4,000 and CREDIT Cash OMR 4,000 Oc. No entry-not a transaction O d. DEBIT Cash OMR 4,000 and CREDIT Utilities Expense OMR 55,000 e. DEBIT Utilities Expense OMR 4,000 and CREDIT Account Payable OMR 4,000 Finish attempt Seyll lis si page
Complete the following: (Use Table 7.1) Invoice Date goods are received Terms Last day of discount period Final day bill is due (end of credit period) June 18 1/10, n/30