Prepare the entries for transaction below and indicate what journal it is 22 august received a debit memo from ultracity co. For an error that overstated the total invoice by $200
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Prepare the entries for transaction below and indicate what journal it is
22 august received a debit memo from ultracity co. For an error that overstated the total invoice by $200
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- Please Solve In 20minsbackground info: Green checkmark means that entry is correct, red is wrong. There is only supposed to be a total of 19 entries. look at 1 picture with the complete journal and adjust to fit the allowance method to go into the second table with green and red corrections. The first entry....you are removing the account so you have to remove the allowance and related receivable (2 parts) The second entry...you want to record the cash received, the removal of the allowance and related receivable (3 parts) The third entry...recording a credit sales (2 parts) The fourth entry...setting up receivable and the allowance (2 parts) The fifth entry...record collection of a previously recorded credit sale (2 parts) The sixth entry...record collection of a previously recorded credit sale (2 parts) The seventh entry...adjusting the allowance by reducing the allowance and reducing 5 customer receivable accounts (6 parts) 1. Finalize the journal entries shown on the Fan-Tastic Sports Gear Inc. panel…Fill out the check register that follows with this information: (Enter your answer in the order of given data. Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places.) 2018 July 7 Check No. 482 15 Check No. 483 19 Deposit 20 Check No. 484 24 Check No. 485 29 Deposit NUMBER AOL Staples Sprint Krispy Kreme $143.50 66.10 800.00 451.88 319.24 400.30 RECORD ALL CHARGES OR CREDITS THAT AFFECT YOUR ACCOUNT FEE (IF ANY) DATE 2018 DESCRIPTION OF TRANSACTION Balance PAYMENT/ DEBIT (-) DEPOSIT/ CREDIT (+) BALANCE $ 4,500.75
- help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all workingUse the following bank statement and T-account to prepare any journal entries needed as a result of the May 31 bank recor no entry Is requlred for a transactlon/event, select "No Journal Entry Requlred" In the first account fleld.) BANK STATEMENTPlease no copy paste from other sources
- Dexter Company applies the direct write-off method in accounting for uncollectible accounts. March 11 Dexter determines that it cannot collect $45,000 of its accounts receivable from its customer Leer Company 29 Leer Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad d Prepare journal entries to record the above selected transactions of Dexter. View transaction list Journal entry worksheet 1 2 Record write off of Leer Company account Note: Enter debits before credits. Date General Journal Debit Credit March 11 Record entry Clear entry View general journal 2Q: What are the journal entries for the following transactions related to Uncollectable accounts? On January 31st, accounts receivable amount to Rs=10,000. On this date, the credit manager reviews the accounts receivable and estimates that approximately Rs=850 of these accounts will prove to be uncollectable. Assume that the customer (Ali enterprise) is gone out of business and Rs=300 account receivable from the customer is now worthless. Assume for example, that a past-due account receivable in the amount of Rs=150 from XYZ was written off on March 16, 2020. All of a sudden, XYZ pays the account in full. Record the journal entry.Prepare a journal entry on December 23 for the withdrawal of $22,500 by Graeme Schneider for personal use. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
- Using the following revenue journal for Bowman Cleaners Inc., identify each of the postingreferences, indicated by a letter, as representing (1) posting to general ledger accounts or(2) posting to subsidiary ledger accounts:On December 31, 2026, MATAPAT Company classified as held for sale an equipment with a carrying amount of P5,000,000. On this date, the equipment is expected to be sold for P4,600,000. Reasonable disposal cost to be incurred on sale is expected at P200,000. By December 31, 2027, the equipment had not been sold and management decided to place back the equipment to operations. On same date, the entity estimated that the equipment is expected to be sold at P4,300,000 with disposal cost of P50,000. The carrying amount of the equipment is P4,000,000 on December 31, 2027 if the noncurrent asset is not classified as held for sale. What is the impairment loss in 2026? and What amount should be recognized in profit or loss as a result of reclassification in 2027?You are tasked to perform cut-off procedures for expenses and its related payable. In testing the completeness/cut-off assertion, what document would you most likely inspect? A. Vendor invoice register 15 days before and 15 days after report date. B. Cash disbursement journal 15 days before and 15 days after report date. C. Accounts payabie subsidiary ledger. D. Purchase journal 15 days before and 15 days after report date.
