Journalize all required entries. Make sure to determine the missing maturity date.Debts at December 31, 2018.crs. The company ends its accounting year on September 30.The following selected transactions occurred during 2018 and 2019 for Baltic Import-on the basis of the aging- note receivable transactionsReceivables 523E9-24 Journalizingreceivable on itsLearning Objective 4Jul. 1, 2019 Cash DR $17,280method versus the2018Loaned $16,000 cash to Bud Shyne on a one-year, 8% note.Jul. 1Sold goods to Lawn Pro, receiving a 90-day, 6% note for $11,000.Sep. 6Ignore Cost of Goods Sold.pre Cost of Goods SoldMade a single entry to accrue interest revenue on both notes.30Collected the maturity value of the Lawn Pro note.2019Collected the maturity value of the Shyne note.Jul. 1ima uses the directRound to the nearest dollar.r9-25 Journalizing note receivable transactionsProfessional Steam Cleaning performs services on account. When a customer accountLocomes four months old, Professional converts the account to a note receivable.ma uses theLearning Objective 4Oct. 31 Cash DR $18,355d accruingDuring 2018, the company completed the following transactions:Apr. 28 Performed service on account for Parkview Club, $18,000.Sep. 1 Received an $18,000, 60-day, 12% note from Parkview Club insatisfaction of its past-due account receivable.Oct. 31 Collected the Parkview Club note at maturity.a one-year,Duoord the transactions in Professional's journal. Round to the nearest dollar.CHAPTER 9 AutoSaveAcct12_Ch09_WP_templates - Compatibility ModeSearchinvoker robinsonFileHomeDesignReferencesMailingsReviewViewHelpA ShareP CommentsInsertLayoutE9-24Journalize all required entries. Make sure to determine the missing maturity date.Solution:DateAccounts and ExplanationDebitCreditD FocusPage 16 of 1712 of 876 words100%8:10 PMO Type here to searchaW10/22/2020O

Notes receivable is a note which is received at the time of providing loan to supplier and creditor,…

E9-24 Jour The following selected transactions occurred during 2018 and 2019 for Baltic Import- ers. The company ends its accounting year on September 30. transactions Learning Objective 4 Jul. 1, 2019 Cash DR $17.280 2018 Loaned $16,000 cash to Bud Shyne on a one-year, 8% note. Jul. 1 Sold goods to Lawn Pro, receiving a 90-day, 6% note for $11,000. Ignore Cost of Goods Sold, Sep. 6 Made a single entry to accrue interest revenue on both notes. 30 Collected the maturity value of the Lawn Pro note. 2019 Collected the maturity value of the Shyne note. Jul. 1 urnalize all required entries. Make sure to determine the missing maturity date. Round to the nearest dollar. urnalizing note receivable transactions Learning Objective 4 CHAPTER 9

E9-24 Jour The following selected transactions occurred during 2018 and 2019 for Baltic Import- ers. The company ends its accounting year on September 30. transactions Learning Objective 4 Jul. 1, 2019 Cash DR $17.280 2018 Loaned $16,000 cash to Bud Shyne on a one-year, 8% note. Jul. 1 Sold goods to Lawn Pro, receiving a 90-day, 6% note for $11,000. Ignore Cost of Goods Sold, Sep. 6 Made a single entry to accrue interest revenue on both notes. 30 Collected the maturity value of the Lawn Pro note. 2019 Collected the maturity value of the Shyne note. Jul. 1 urnalize all required entries. Make sure to determine the missing maturity date. Round to the nearest dollar. urnalizing note receivable transactions Learning Objective 4 CHAPTER 9

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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The April 30 cash register reading for LULU Hypermarket shows sales of RO22,000 and sales taxes of RO 1,100 (sales tax rate of 5%), the journal entry for this transaction is Select one: O a. Sales Revenue 22,000 Cash 22,000 O b. Cash 23,100 Sales Revenue 22,000 Sales tax payable 1,100 O C. Sales Revenue 23,100 Cash 22,000 Sales tax payable 1,100 直 0 اكتب هنا ل لبحث
S11-4 Accounting for a note payable On December 31, 2017, Franklin purchased $13,000 of merchandise inventory on a one-year, 9% note payable. Franklin uses a perpetual inventory system. Learning Objective 1 Requirements 1. Journalize the company's purchase of merchandise inventory on December 31, 2017. 2. Journalize the company's accrual of interest expense on June 30, 2018, its fiscal year-end. suit? 3. Journalize the company's payment of the note plus interest on December 31, 2018. ****.
Business registered as 15% vat. They use perpetual inventory systems and all goods mark up at 20% above cost, before taking into account any trade discount. Prepare a cashbook payment and cashbook receipts Owner contributed R5 000 cash Cash sales R13 800 including vat Cash purchases R8 000 excluding vat Paid telkom for telephone account R345 Paid R2 000 towards a loan settlement with mzansi bank Cash sales R5 750 including vat Cash purchases R4 600 including vat Paid wages R800
ABC Department store grants loyalty awards to its customers wherein for every P 100 purchase made, the customer receives 5 points equivalent to P 5. The points accumulated by the customer may be used as part or full payment for merchandise purchases in the future. During 2018, total sales amounted to P 10,000,000. Fair values of the merchandise sold and reward points are P 9,500,000 and P 500,000, respectively. At the end 2018, 60% out of 90% have been redeemed by the customers. At the end 2019, an additional 20% have been redeemed and the revised estimate of total points expected to be redeemed was now at 95%. In accordance with IFRS 15, how much is the balance of the liability for customer loyalty awards as of December 31,2018? P 500,000 P 375,000 P 125,000 P 200,000
5. Help me selecting the right answer. Thank you
20X1 Feb. 1 Sold crystal goods to Lovely Kitchens, a wholesale customer. The list price is $3,800, with a 25 percent trade discount. This sale is not subject to sales tax. Issued Invoice 5950 with terms of n/15. 15 Recorded cash sales for the period from February 1 to February 15 of $8,300 plus sales tax of $664. 15 Recorded sales for the period from February 1 to February 15 to customer: using bank credit cards of $11,800 plus sales tax of $944. (Record the 2 percent credit card expense at this time) 16 Received a check from Lovely Kitchens in payment of Invoice 5950 dated February 1. 16 Sold merchandise to customers using American Express for $7,800 plus salEs tax of $624. 17 Sold a set of Roman statues to Beautiful Bedrooms, a wholesale customer. The list price is $7,800, with a 30 percent trade discount. This sale is not subject to sales tax. Issued Invoice 5951 with terms of n/15. 20 Received payment from American Express for the amount billed on February 16, less a 3 percent…
Dextra Computing sells merchandise for $16,000 cash on September 30 (cost of merchandise is $11,200). Dextra collects 7% sales tax. Record the entry for the $16,000 sale and its sales tax. Also record the entry that shows Dextra sending the sales tax on this sale to the government on October 15. View transaction list Journal entry worksheet 1 2 3 Record the cash sales and 7% sales tax. Date September 30 Note: Enter debits before credits. General Journal Debit Credit >
What would be the cash disbursements for month 3? Description Month 1 Month 2 Month 3 Month 4 Material Purchases $ 175,000.00 $ 185,000.00 $ 215,000.00 $ 190,000.00 Amount paid in month of purchase 65.00% Amount paid in month after purchase 30.00% Amount paid two months after purchase 5.00% Discounts in month of purchase 3.50% Discount in month after purchase 1.00% Total Cash disbursements in month 3 Show your work below Description Month 1 Month 2 Month 3
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ACTIVITY 3: Entries for Purchase of Goods On January 3, 2020, Kim Taehyung made a purchase. The list price of the goods was P125,000. Trade discount is 4%. Credit terms are at 5/10, n/30. Kim Taehyung, responsible for the freight, paid for the delivery cost of P3,000. On January 7, 2020, Taehyung returned some goods with invoice price of P25,000. On January 12, 2020, Taehyung settled his account. On an Excel sheet, provide the entries for the foregoing purchase in separate sheets for the periodic and the perpetual methods.
Pedroni Enterprises issues a $260,000, 45 day 5 % note to Zorzi Industries for merchandise inventory Journalize Pedroni Enterprises entries to record: The issuance of the note The payment of the note at maturity Journalize Zorzi Industries entries to record: The receipt of the note Receipt of the payment of the note at maturity On July 31, 2019 the balances of the accounts appearing in the ledger of Pedroni Interiors company a furniture wholesales, are as follows. Accumulated Depreciation – Building $365,000 Ray Zorzi – Capital $530,000 Administrative Expenses 440,000 Ray Zorzi – Drawing 15,000 Building 810,000 Sales 1,437,000 Cash 78,000 Sales tax Payable 4,500 Cost of Merchandise Sold…
Do a journal entry based on this transections, round interest amounts to the nearest dollar,