In March, Sandhill Company completes Jobs 10 and 11. Job 10 cost $24,000 and Job 11 $36,000. On March 31, Job 10 is sold to thecustomer for $42,000 in cash.Journalize the entries for the completion of the two jobs and the sale of Job 10. (List all debit entries before credit entries. Creditaccount titles are automatically indented when amount is entered. Do not indent manually.)Date Account Titles and ExplanationMar. 31DebitCredit31(To record the completion of the two jobs)31(To record the sale Job 10)

Step 1: To record the completion of the two jobsDateAccount title and…

Answered: In March, Sandhill Company completes…

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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A weekly time ticket for Joyce Caldwell follows: Labor Time Ticket Ticket Number: TT 338 Employee: Joyce Caldwell Date Monday, 8/12 Tuesday, 8/13 Wednesday, 8/14 Thursday, 8/15 Friday, 8/16 View transaction list 1 Time Started 7:00 AM 7:00 AM 7:00 AM Journal entry worksheet 7:00 AM 12:00 PM 7:00 AM Transaction Note: Enter debits before credits. a Dates: Monday 8/13 - Friday 8/17 Record entry Record Joyce's wages to be paid at a later date. Required: Prepare a journal entry to record Joyce's wages. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Time Ended 11:00 AM 4:00 PM 3:00 PM Weekly Totals. Hourly Labor Rate Total Wages Earned General Journal Clear entry 3:00 PM 3:00 PM 3:00 PM Total Hours 8 hours 8 hours 8 hours Debit 4 hours 4 hours 8 hours 40 hours × $24 $ 960 Credit Job Number Job 271 Job 271 Job 272 View general journal Job 272 Maintenance Job 273
Creative Solutions Company, a computer consulting firm, has decided to write off the $11,750 balance of an account owed by a customer, Wil Treadwell. On December 31, journalize the entry to record the write-off, assuming that (a) the direct write-off method is used and (b) the allowance method is used. Refer to the Chart of Accounts for exact wording of account titles.
Peter is a dual citizen of US and Canada residing in Canada. He is single. In 2019 he received $20K US Social Security and $40K distribution from registered retirement plan in Canada. What is Peter's AGI on US tax return?
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Current Attempt in Progress Your answer is partially correct. In January, Sunland Tool & Die requisitions raw materials for production as follows: Job 1 $930, Job 2 $1,200, Job 3 $720, and general factory use $610. Prepare a summary journal entry to record raw materials used. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
On January 1, Wei Company begins the accounting period with a $30,000 credit balance in Allowance for Doubtful Accounts. a. On February 1, the company determined that $6,800 in customer accounts was uncollectible; specifically, $900 for Oakley Co. and $5,900 for Brookes Co. Prepare the journal entry to write off those two accounts. b. On June 5, the company unexpectedly received a $900 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash received.
Gordon's Grocers purchases bread from Buddy's Bread Company at $1.45 per loaf. Gordon's engaged in a customer service contract to purchase 20,000 loaves of Buddy's bread. Buddy offered credit at terms of 2/10, n/30 and expects Gordon to pay within the discount period. Required: Prepare the journal entry assuming the payment is made after 10 days (after the discount period). If an amount box does not require an entry, leave it blank.
Completing the Payroll Register The Employee Payroll Register presents all the computations previously performed as it applies to this payroll period. Complete the following steps (if a field should be blank, leave it blank): Record the amount to be withheld for group insurance. Record the amount to be withheld for health insurance. Each worker is to be paid by check. Assign check numbers provided to the correct employee. Compute the net pay for each employee. Total the input columns. KIPLEY COMPANY, INC.Payroll RegisterFor Period Ending January 8, 20-- EARNINGS DEDUCTIONS NET PAY Name Gross OASDI HI FIT SIT SUTA CIT SIMPLE Grp. Ins. Health Ins. Ck. No. Amount Carson, F. $700.00 $43.40 $10.15 $48.00 $21.49 $0.42 $21.00 $20.00 Wilson, W. 897.04 55.62 13.01 68.00 27.54 0.54 26.91 50.00 Utley, H. 678.75 42.08 9.84 14.00 20.84 0.41 20.36 40.00 Fife, L. 877.10 54.38 12.72 33.00 26.93 0.53 26.31 50.00 Smith, L. 790.00 48.98 11.46 59.00…
View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. In January, Oriole Tool & Die requisitions raw materials for production as follows: Job 1 $970, Job 2 $1,700, Job 3 $730, and general factory use $620. Prepare a summary journal entry to record raw materials used. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Jan. 31 Account Titles and Explanation Work in Process Inventory Manufacturing Overhead Raw Materials Inventory Debit $3,040 $630 Credit
On January 25, Choo Choco Factory hired an employee who works five days a week from Monday to Friday and receives a weekly salary of $400 every Friday. Suppose January 31 falls on Wednesday, which of the following is correct on January 31? Select one: a. debit salaries expense and credit cash by $400 b. debit salaries expense and credit salaries payable by $240 c. debit salaries expense and credit cash by $240 d. debit salaries expense and credit salaries payable by $400
The sales clerks of Teresa's Treasures are paid a salary of $225 per week plus a commission of 8% on all sales they make. Find the amount of commission and gross earnings for these employees. (Round your answers to 2 decimal places. Omit the "S" sign in your response.) Sales for the Week $ 2,392.50 $ 3,480.75 Name Commission Gross Earnings Tina Valendez Jan Yarrow %24 %24

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