currently doing working papers for accounting class, have I got the accounts and values correct? thanks The following totals were taken from the payroll register of the Riche Moving Company.Total gross earnings of all employees:Total social security tax withheld:Total medicare tax withheldTotal federal income tax withheldTotal insurance premiums withheldRecord the entry for the weekly payroll on general journal. (Round your answers to 2 decimal places.Omit the "$" sign in your response.)DateJune 14 Salaries Expense$9,814.40608.49142.311,766.00804.00General JournalSocial Security Tax PayableMedicare Tax PayableEmployees' Federal Income Tax PayableInsurance Premiums PayableAccounts PayableDebit9814.40Credit608.49142.311766.00804.003320.8(O)

Gross earnings include total amount earned by employees. After deducting various deductions and…

Answered: The following totals were taken from…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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4. 5. 6. What accounts are considered temporary accounts? Hint: Use the broad categories that we have discussed since day one in class. Otherwise, give at least three examples of specific accounts. What financial statement does all the permanent accounts get listed on? With the following accounts please tell me what the normal account balance would be. Keep in mind of your hints that I have given you throughout the semester so far. Account name Cash Dividends Accounts Payable Retained Earnings Prepaid Insurance Telephone expense Commissions Earned oft Normal Balance
Make first a proper Chart of Accounts. Then make a proper Trial Balance from the following accounts and balances listed in alphabetical order for MN Company for August 31 of the current year. Put them in the correct order along with their debit and credit balances on your Trial Balance. Total the DR and CR column and make sure they balance. Make sure you have a heading. We will work on this in class. Upload here on D2L if you are not yet finished in class. Accounts Payable $2300, Accounts Receivable $1200, Accumulated Depreciation-Equipment $800, Advertising Expense $200, Cash $3400, Equipment $12,500, Furniture and Fixtures $6700, MN, Capital, $6500, MN, Drawing $500, Notes Payable $8000, Prepaid Insurance $1200, Professional Fees $10,000, Rent Expense $500, Supplies $100, Utilities Expense $300, Wages Expense $1000.
make a proper Chart of Accounts for ABC Company: Accounts Payable, Accounts Receivable, Advertising Expense, Cash, C.C. Capital, C.C. Drawing, Equipment, Inventory, Prepaid Insurance, Rent Expense, Sales, Supplies, Utilities Expense. We will work on this in class. Upload here if you don't finish in clas
“Since you are enrolled in an introductory accounting class, a friend asks you the following: "I have never understood debits and credits." Provide a brief explanation of the terms debit and credit and how they are used in an accounting information system.
Required information [The following information applies to the questions displayed below.] Nicole's Getaway Spa (NGS) continues to grow and develop. Nicole is now evaluating a computerized accounting system and needs your help in understanding how source documents inform accounting processes. She also needs some help reconciling NGS's bank account. Required: 1. For each source information shown below, prepare the appropriate journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. Purchase order dated October 13 for massage chairs costing $840 and oil supplies costing $315. b. Remittance advice from customer for $108, received October 17. c. Receiving report indicating October 22 receipt of October 13 order. Also received supplier invoice totaling $1,155. d. NGS check for payment in full of October 13 order.
None
Your new company paid the invoice for their account with Alli's Broom Supply Company. What would your journal entry look like when you record this transaction? a) Debit Cash; Credit Accounts Payable b) Debit Cash; Credit Supplies Expense c) Debit Accounts Receivable; Credit Cash d) Debit Accounts Payable; Credit Cash
In the columns Below insert the entry that would be made for each transaction under each accounting basis use an appropriate debit and credit account titles
these multiple choice Questions from ACCOUNTING PRINCIPLES 1 Course.I need the final.

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