kcesReq 1Req 2AView transaction listReq 2BJournal entry worksheetDateDecember03Prepare journal entries to record each of the December transactions and events for BusinNote: If no entry is required for a transaction/event, select "No Journal Entry Required" inNote: Enter debits before credits.3Record entryReq 34Computer equipmentPaid $500 cash for minor repairs to the company's computer.General JournalReq 45Clear entry67Q SearchReq 5Debit8500*****Req 6CreditPrev11View general journal1 of 1ww

Answered: Paid $500 cash for minor repairs to the…

Paid $500 cash for minor repairs to the company's computer. Note: Enter debits before credits. Date December 03 General Journal Computer equipment Debit 500 *** Credit

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

Entries for discounted note payable A business issued a 30-day note for $57,000 to a bank. The note was discounted at 7%. Assume a 360 days in a year. a. Journalize the entry to record the issuance of the note. If an amount box does not require an entry, leave it blank. If necessary, round your answers to one decimal place. 88 Cash Interest Expense Notes Payable Feedback Check My Work a. Why is the company issuing the note? What type of note is being issued (interest-bearing or discounted)? How much will the company. owe on the maturity date? b. Journalize the entry to record the payment of the note at maturity. If an amount box does not require an entry, leave it blank. Notes Payable Cash
Collected from customers on account on september 10 sold on account key 20,000 to customers with credit terms : 2/10 , n 30
[The following information applies to the questions displayed below.] On January 1, Year 1, the general ledger of a company includes the following account balances: Debit Credit Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts $ 25,600 47,200 $ 4,700 Inventory Land 20,500 51,000 17,500 Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, Year 2) Common Stock 2,000 29,000 55,000 40,000 31,100 $161,800 Retained Earnings Totals $161,800 During January Year 1, the following transactions occur: 2 Sold gift cards totaling $9,000. The cards are redeemable for merchandise within one year of the purchase date. 6 Purchase additional inventory on account, $152,000. January January January 15 The comapany sales for the first half the onth total $140,000. All of these sales are on account. The cost of the units sold is $76,300. January 23 Receive $125,900 from customers on accounts receivable. January 25 Pay $95,000 to inventory suppliers on…
ACCOUNTS RECEIVABLE LEDGER NAME: E. McKenzie ADDRESS: 4717 Erin St, Madison, WI 53713 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 3 J60 3,816.00 3,816.00 Aug. 18 J60 4,589.80 fill in the blank 1 J60 105.00 fill in the blank 2 ACCOUNTS RECEIVABLE LEDGER NAME: S. Rottier ADDRESS: 1008 S. 9TH St, Monona, WI 53715 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 7 J60 1,484.00 1,484.00 Aug. 10 J60 400.00 fill in the blank 3 ACCOUNTS RECEIVABLE LEDGER NAME: L. Franklin ADDRESS: 2815 Main St, Cottage Grove, WI 53711 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 1 J60 1,272.00 1,272.00 Aug. 22 J60 2,120.00 fill in the blank 4 Using the information from the ledgers, prepare a schedule of accounts receivable as of August 31. If required, round your intermediate and final answers to the nearest cent. Willis Spas and PoolsSchedule of Accounts ReceivableAugust 31, 20-- E. McKenzie $fill…
Listed below are selected transactions of Riverbed Department Store for the current year ending December 31. 1. 2. 3. 4. On December 5, the store received $520 from the Selig Players as a deposit to be returned after certain furniture to be used in stage production was returned on January 15. During December, cash sales totaled $823,200, which includes the 5% sales tax that must be remitted to the state by the fifteenth day of the following month. On December 10, the store purchased for cash three delivery trucks for $115,700. The trucks were purchased in a state that applies a 5% sales tax. The store sold 29 gift cards for $100 per card. At year-end, 24 of the gift cards are redeemed. Riverbed expects three of the cards to expire unused. Prepare all the journal entries necessary to record the transactions noted above as they occurred and any adjusting journal entries relative to the transactions that would be required to present fair financial statements at December 31. Date each…
Entries for discounted note payable A business issued a 60-day note for $48,000 to a bank. The note was discounted at 7%. Assume a 360 days in a year. Question Content Area a. Journalize the entry to record the issuance of the note. If an amount box does not require an entry, leave it blank. If necessary, round your answers to one decimal place. blank Account Debit Credit - Select - - Select - - Select - - Select - - Select - - Select - Question Content Area b. Journalize the entry to record the payment of the note at maturity. If an amount box does not require an entry, leave it blank. blank Account Debit Credit - Select - - Select - - Select - - Select -
Need help with this questiin please. Thank you
1 Find the new balance, assuming that the bank charges 2-% per month on the unpaid balance. 2 Previous New Balance Payment Purchases $592.88 $81.26 A. $575.61 B. $572.61 C. $576.51 O D. $574.41 $50.00
Cash Receipt #94 Dated April 4, 2022 From Jokers Et Al., cheque #2213 for $950 in full payment of invoice # 287, taking into account 2% sales discount of $50 for early payment. 04-15-2022 J2 1080 1200 94, Jokers Et Al. Bank: Chequing Accounts Receivable 1,000.00 1,000.00 Compare the transaction information and the transaction as captured in Sage and state, what was done wrong and how would you correct it?
If Abby INC sells items to a customer who uses a credit card for $1100 and there is a credit card fee of 1.5% Abby will record an : ______ Round your final answer to the nearest dollar A. DEBIT TO ACCOUNT RECIEABLE FOR $1083 B. Credit to sales revenue for $1083 C. debit to sales expense for $17 D. Debit to credit card discount expense for $17
Need help on figuring out what to put for account/explanation for the journal entry
Fill in the missing amounts in the accounts payable subsidiary ledgers for Al's Tractor Supply. NAME: B. Mario ACCOUNTS PAYABLE LEDGER ADDRESS: 1230 Rose Ave, Watertown, WI 53094 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- July 8 P7 1,900.00 1,900.00 July 15 J3 400.00 NAME: Denson & Soldner ACCOUNTS PAYABLE LEDGER ADDRESS: 111 Chase St, Johnson Creek, WI 53081 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- July 3 P7 3,100.00 3,100.00 July 13 CP9 3,100.00 July 29 P7 3,460.00 ACCOUNTS PAYABLE LEDGER NAME: Hutchinson Supplies ADDRESS: 1985 County Road, Lake Mills, WI 53577 DATE TTEM POST. REF. DEBIT CREDIT BALANCE