please prepare the journal entries 10. Paid $162,000 for salary up to 9th March (Tuesday). All employees work a five-day week and are paid every four weeks on the following Wednesday, based on the number of days they have worked in the last four weeks. Employees are entitled to full pay on public holidays but not on Saturday and Sunday. The employees receive a total salary of $40,500 for a five-day work week. 12. Received payments from Vinga Limited, for the March sales. 13. Acquired $150,000 toy musical instruments by signing a 90-day, 5% notes payable. 16. Queenie Company Limited, a customer, has financial difficulties and unable to pay the outstanding balance of $200,000. The company has a long-term relationship with Queenie, and agreed to accept a 12%, 45-day notes from the customer to settle the outstanding balance. 17. Share dividends were distributed. Shareholders on the register of the company on 6 March 2021 are entitled to receive the dividend shares. 21. Paid all dividends declared previously. 25. Received from Tom Limited, $180,000, as the prepayment for the leasing of part of the warehouse for one year from 1 April 2021 to 31 March 2022. 27. Received inflatable castle of $40,000 consignment goods returned from Consignee Trading Limited. The goods are delivered to Consignee Trading Limited for consignment purpose in February 2021. 28. Purchased $23,000 play mats from Millan Company, FOB Destination, terms 1/10, n/45. The shipping document showed that the goods were received on 3rd April 2021. 29. A cash dividend was declared for preference shares and a cash dividend of $0.03 per share was declared for ordinary shares. The dividends will be paid in April. 30. Received a check of $16,000 from the liquidator of YOT Limited. YOT Limited was closed down in December 2020 and the managing director of ITI authorized to write off $45,000, being the full amount outstanding in the accounts of YOT Limited, as of then.
please prepare the
10. Paid $162,000 for salary up to 9th March (Tuesday). All employees work a five-day week and are paid every four weeks on the following Wednesday, based on the number of days they have worked in the last four weeks. Employees are entitled to full pay on public holidays but not on Saturday and Sunday. The employees receive a total salary of $40,500 for a five-day work week.
12. Received payments from Vinga Limited, for the March sales.
13. Acquired $150,000 toy musical instruments by signing a 90-day, 5% notes payable.
16. Queenie Company Limited, a customer, has financial difficulties and unable to pay the outstanding balance of $200,000. The company has a long-term relationship with Queenie, and agreed to accept a 12%, 45-day notes from
the customer to settle the outstanding balance.
17. Share dividends were distributed. Shareholders on the register of the company on 6 March 2021 are entitled to receive the dividend shares.
21. Paid all dividends declared previously.
25. Received from Tom Limited, $180,000, as the prepayment for the leasing of part of the warehouse for one year from 1 April 2021 to 31 March 2022.
27. Received inflatable castle of $40,000 consignment goods returned from Consignee Trading Limited. The goods are delivered to Consignee Trading Limited for consignment purpose in February 2021.
28. Purchased $23,000 play mats from Millan Company, FOB Destination, terms 1/10, n/45. The shipping document showed that the goods were received on 3rd April 2021.
29. A cash dividend was declared for
30. Received a check of $16,000 from the liquidator of YOT Limited. YOT Limited was closed down in December 2020 and the managing director of ITI authorized to write off $45,000, being the full amount outstanding in the accounts of YOT Limited, as of then.
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