Q.2.2 Prepare the individual account of L. Simpson in the debtors ledger of TowelTalk for February 2021. (Round off to the nearest rand)
Q: Please help me
A: It has been given in the question that only the cash receipts journal is required to be made. This…
Q: Cy loans Mookie The Beagle™ Concierge $2,000 at 6% annual interest. Record the transaction as a loan…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: Jacqueline recieves an invoice from Lowes dated March 2nd, 2018 for $730 with terms 7/10, 2/19,…
A: Term 7/10, 2/19 means that buyer are allowed 7% discount if the payment is made within 10 days and…
Q: Sylvestor Systems borrows $185,000 cash on May 15 by signing a 150-day, 7%, $185,000 note. 1. On…
A: Journal: Recording of a business transactions in a chronological order.
Q: Am. 118.
A: The objective of the question is to calculate the interest accrued on a note receivable by December…
Q: Question: How would I record these in MYOB account right v19. can you please provide step by step…
A:
Q: Prepare the debtors list of Towel Talk as at 28 February 2021. (Round off to the nearest rand) (Show…
A: Debtors list Debtors list is the total list of the customers which can owe to the companies. It is…
Q: Example: In the year 2019 Accounts Receivable balance is 10,0 expense of 1.000. Use the Allowance…
A: To record bad debt under the allowance method, a company first estimates its total bad debt expense…
Q: Sammy accounts for VAT on an invoice basis. The following details have been extracted from the…
A: Sammy accounts for Vat is based on invoice basis. January/February 2020 VAT period are : Invoices…
Q: Bad Debts-Allowance Method On 2/22/2023, Wrote off the account of Jay Smith 10,000. On 06/30/2023…
A: Allowance for Doubtful Accounts - Allowance for doubtful account is one of the method of recording…
Q: You are given the following account summary: Time Balance Deposit Withdrawal 1,000 1,020 1.110…
A: Following is the answer to the given question
Q: Fill out the check register that follows with this information for August 2019: LU 4-1(1) Aug 7…
A: In the given question we are provided with various deposit and payment details of checks. Along…
Q: December 12, 2022: Received a $5,775, 120-day, 8 percent note from Jacques Alard to settle his…
A: A note receivable is simply a written commitment to receive a specified amount of money on a future…
Q: 9 Dec. Borrowed $28,000 from the bank for personal use. The loan carried an interest rate of 6% a…
A: Lets understand the basics. When any borrowing is made by the person then interest and repayment is…
Q: Please provide journal entries for the below situation, including payment of bill.
A: Given in the question: Security deposit has been deposited on the January 1, 2022 for the utilities…
Q: a. From the following list of balances, prepare the Accounts Receivable Control Account for the…
A: Accounts Receivable: Accounts receivable indicates the amounts which company has not received from…
Q: CHECK FIGURES: Jan 10, 2021 Cash $15,060 80. Mar 29, 2021 Cash - $4.507.09 Required Prepare…
A: Journal entries in accounting are the primary means by which financial transactions are recorded in…
Q: 6. A cheque for RO 2,000 is presented in the clearing on the 20-01-2020 for payment when the balance…
A: Answer When balance in the bank account is insufficient then The overdraft facility may be used to…
Q: In the same credit card, for the month of December, the customer plans to purchase on Dec 05 an item…
A: December 5, 2020 was Saturday There are 4 Monday after December 5,2020 i.e., 7th, 14th, 21st and…
Q: 2.1 Determine the 'payments and credits' value, if the client paid 25% c the closing balance of the…
A: Payments and credits is the amount paid as settlement to the Credit card dues.
Q: Clivia Traders, a stationery shop, situated in Sea Point is owned by Daisy Garden. The business is a…
A: We are answering 4.1.1 as it is specifically mentioned to do 4.1.1.
Q: With an initial deposit of $10 000, Moe opened an RRSP on July 1st, 2018. He added $1500 on February…
A: Future Value: It is estimated by the product of the future value factor and the present sum of the…
Q: Record in journal form the following transaction: Bought goods on credit for $4,500 from Andrew 23…
A: Journal entry is the process of recording business transactions in the books of accounts for the…
Q: I'm not sure how to journal the principal plus interest for the last transaction. I think that I do…
A: Note receivable is one of the current asset of the business. It means promise has been received from…
Q: 4. On December 31, 2019, Don accepted a note receivable from Mike's Builders for $1,000 as a good…
A: The accrued interest is the interest expense due for payment but not paid yet.
Q: Use the information provided below to prepare the following for January and February 2023 as per…
A: Cash Budget- A cash budget analyses the flow of cash in a company over the long or short term. So a…
Q: Moss County Bank agrees to lend the Blossom Company $485000 on January 1. Blossom Company signs a…
A: To pay off the notes at maturity, principal amount of loan along with total interest must be pay…
Q: On April 5, Jessica had a balance due on her credit card of $927.85. From April 5 through May 4,…
A: Here, Previous Balance is $927.85 Additional Charges is $335.66 Payment is $700 Interest Rate per…
Q: Enter the following information into a manual journal with credits/debits:
A: The accrual basis of accounting is the method by which revenues and expenses are recognized when…
Q: Hello- Is there a way to get Times inteset earned using the attached data. Please advise. Thanks,…
A: Solvency: Solvency is the capability of a company to pay the long-term liabilities which are due.…
Q: On September 1, 2022, Hare Today pet-supply store Co. borrowed $9,000 from Gone Tomorrow Bank,…
A: A journal entry is the act of keeping or producing records of any transaction, economic or…
Q: What is Disney's Average Collection Period for the year ending 9/30/2019 using Yahoo finance data?…
A: Average collection period is the period required to collect cash money from the customers which is…
Q: Complete the debtors control account in the general ledger of Towel Talk for February 2021. (Round…
A: Debtors control account is a type of ledger which basically has the history of all the amounts owed…
Q: Novak Supply Co. has the following transactions related to notes receivable during the last 2 months…
A: The maturity period for different notes is computed by adding the period to the issue dates for…
Q: Kinsella Seed borrowed $200,000 on October 1, 2022, at 10% interest. The interest and principal are…
A: The objective of the question is to determine the correct journal entry for the interest payment on…
Q: Part 1: Prepare a General Journal entry for the following transaction: On December 17, On Your Mark…
A: The journal entries are prepared to keep the record of day to day transactions of the business on…
Q: Luna's savings account had the following balances. Date 04/01/2019 04/17/2019 05/28/2019 06/22/2019…
A: Cash balances in an account on different dates have been provided. We have to find the average daily…
Q: 10. Elly's credit card record for the last 7 months is below. Based on the information from the…
A: The use of a credit card for purchases corresponds to taking out a bank loan. You pledge to repay…
Q: andyRandy opened an RRSP deposit account on December 1, 2008, with a deposit of $18001800. He…
A: Future value is computed as follows:-whereFV= future valueA= amount investedr= interest raten= time…
Q: Vautall Holdings showed the following information regarding its notes receivable 3 4 Date of Nov…
A: "Since you have asked a question with sub-parts more than three, as per guidelines, the first three…
Q: 4.1 Debtors Collection Schedule INFORMATION The following information was provided by Intel…
A: Debtors collection schedule is a schedule which show the amount received from debtors each month.…
Q: Recording Entries for an Installment Note Payable On January 1 of Year 1, a borrower signed a…
A: Notes payable are the written agreements that state that one party will give the other party a…
Q: im.3
A: Date | Account Titles | Debit | Credit Jan. 31 | Interest Expense | 988 | | Bonds Payable |…
Q: (b) Prepare the entry to accrue the interest on June 30. (List all debit entries before credit…
A: Journal Entry is the primary step to record the transaction in the books of accounts. The interest…
Q: following monthly balance, calculate the minimum monthly payment. Minimum Payment Balance…
A: Minimum monthly payment means that payment which is required to be paid on monthly basis for a…
Q: Find the compound amount for the following certificate of deposit. Assume daily compoundings…
A: The amount that a present investment will gain in value over time when kept in a compound interest…
Q: On November 20, 2021, JD borrowed Php36,500 from Migs. He promised to pay the principal and 11.75%…
A: The borrowed amount is Php 36,500 The simple interest rate is 11.75% The borrowed date is November…
Q: Please select the correct journal entry for it O Dr Dr Dr Dr Cr Cr Cr Interest expenses (p&l)…
A: The adjustment entries are prepared to adjust the revenue and expense of the current period. The…
Q.2.2 Prepare the individual account of L. Simpson in the debtors ledger of TowelTalk for February 2021. (Round off to the nearest rand)
Step by step
Solved in 2 steps
- Looking for answers asap. Thanks! Analyze and review the following items and determine the appropriate journal entry. Notes Payable This is a short-term note. The company borrowed money from JRT Investments on October 31, 2020 for 3 months. The principal, along with interest is to be repaid on January 31, 2021. The interest rate is 1.8%. Notes Payable = $250,000fill in the boxes and find the monthly and ending balances with the savings calculator.jeremy opened a CD (certificate of deposit) on April 3, 2018 with an interest rate of 4.65% compounded weekly. How much was initially deposited if Jeremy checks his account on December 5, 2018 and discovers the account balance is $3614? Round your answer to the nearest cent.
- Please help me. Thankyou.hi how do we record this in MYOB. Please help me Transactions from early January 2021 2 Obtained a loan of $14,000 from Uncle Oliver (a family relative of Beatrice Reed) at a simple interest rate of 10% per year, Cheque No. 145, ID #CR000001. The principal and interest on the loan are payable in six months time. 3 Received Cheque No. 227 from Pikea for the full amount outstanding on their account, ID #CR000002. 4 Issued Cheque No. 4098 for $10,065 to Mega Tech in payment of Purchase #303 (Supplier Inv#230). 4 Purchased 9 units MePod multimedia players from Pony at $979 each (includes 10% GST), Purchase #306, Supplier Inv#328. Issued Cheque No. 4099 for $3,900 to this supplier for this particular invoice at the time of the purchase. 4 Issued Cheque No. 4100 for $1,320 (includes 10% GST) to Discount Office Supplies for the cash purchase of office supplies. 6 Sold the following items on credit to Jerry Technology, Invoice #3284: 3 units BG90 plasma televisions for…question is attached in the ss blow thanks for help thlatpatphat ha arepoacited it top4ipt4op 4itp 4iyp4 o o4i y
- K On April 1, Hilda made a $2680 deposit to open a savings account paying 3% compounded daily. She then deposited $200 on May 2 and $630 on May 25. Find the balance on June 30 and the interes earned through that date. Click here to view the 3.5% compound interest table. Click here to view the 3.5% compound interest by quarters table View On June 30, what is the balance in the account? S (Round to the nearest cunt as needed.) - X 3.5% Interest Compounded Daily by Quarter Table 1 Interest by Quarter for 3 % Compounded Daily Assuming 90-day Quarters Number of Quarters. Value of (1+i) 1.008667067 1.017409251 1.026227205 1.035121505 3.5% Interest Compounded Daily Table Number R 1 2 3 4 5 6 7 8 9 10 11 12 13 Values of (1+1) for 3% Compounded Daily Valec of Value of 1.000095890 19 35 (1+1) It (1+i) A 1001823491 37 1.003554076 38 1003650307 56 1003746548 57 1000191790 20 1001919556 1.000287699 21 100201 5631 1.000383617 22 1.002111714 1003842797 1000479544 23 1002207807 41 1003939056 59…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 AssignmeShow work.
- NoneDo a journal entry based on this transections, round interest amounts to the nearest dollar,Requirements 1. Journalize the transactions in the Johnson Pharmacies general journal. Round to the nearest dollar. Explanations required. 2. Prepare the liabilities section of the balance sheet for Johnson Pharmacies on March 1, 2019 after all the journal entries are recorded.