Journal entry worksheet1On January 2, Dixie, Inc., pays a salvage company $1,000 to haul away amachine costing $28,000 with accumulated depreciation of $28,000Note: Enter debits before credits.DateGeneral JournalDebitCreditJan. 2

Determine the amount of gain or loss on disposal of machine.

Answered: Journal entry worksheet 1 On January 2,…

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 credit sale of $3800 is made on April 25, terms 1/10, n/30, on which a return of $300 is granted on April 28. What amount is received as payment in full on May 4? $3465 • $3800 • $3500 Ⓒ $3762
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eBook Show Me How Print Item Question Content Area Accrued Product Warranty Fosters Manufacturing Co. warrants its products for one year. The estimated product warranty is 3% of sales. Assume that sales were $185,000 for January. On February 7, a customer received warranty repairs requiring $160 of parts and $75 of labor. a. Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty. If an amount box does not require an entry, leave it blank. blank Product Warranty Expense Product Warranty Expense Cash Cash Feedback Area Feedback b. Journalize the entry to record the warranty work provided in February. If an amount box does not require an entry, leave it blank.
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…
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eBook Show Me How Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $39,600. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 6%. b. Determine the proceeds of the note, assuming the note is discounted at 6%. Check My Work Email Instructor Save and Exit Previous Submit Assignme
Complete accrued interest payable and journal entry 1-2 Dec 31 please and thank you 1-record the accrued interest expense 2-record the payment of note at maturity on February 5th
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 Journal entry worksheet 7:00 AM 7:00 AM 7:00 AM Transaction a 7:00 AM 12:00 PM 7:00 AM Note: Enter debits before credits. Record entry Dates: Monday 8/13 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. 1 General Journal Clear entry Friday 8/17 Time Ended 11:00 AM 4:00 PM 3:00 PM Weekly Totals Hourly Labor Rate Total Wages Earned 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 × $29 $ 1,160 Credit Job Number Job 271 Job 271 Job 272 Job 272 Maintenance Job 273 View general journal
A credit sale of $2,400 is made on April 25, terms 2/10, n/30, on which a return of $150 is granted on April 28. What amount is received as payment in full on May 4 $2,352 $2,400 $2,250 $2,205
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Do a journal entry based on this transections, round interest amounts to the nearest dollar,
PAGE 11 ACCOUNTING FOUATION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Widmer Company had gross wages of $200,000 during the week ended June 17. The amount of wages subject to social security tax was $200,000, while the amount of wages subject to federal and state unemployment taxes was $30,000. Tax rates are as follows: General Journal a. Journalize the entry to record the payroll for the week of June 17. b. Journalize the entry to record the payroll tax expense incurred for the week of June 17. Social security 6.0% Medicare 1.5% State unemployment 5.4% Federal unemployment 0.8% The total amount withheld from employee wages for federal taxes was $40,500. General Journal Instructions Required: a. Journalize the entry to record the payroll for the week of June 17. b. Journalize the entry to record the payroll tax expense incurred for the week of June 17 1 2 4 DATE DESCRIPTION 5 9 7 B 9 10 JOURNAL

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Journal entry worksheet 1 On January 2, Dixie, Inc., pays a salvage company $1,000 to haul away a machine costing $28,000 with accumulated depreciation of $28,000 Note: Enter debits before credits. Date General Journal Debit Credit Jan. 2