Received bills totaling $1320 for grand opening/fourth of July party. The bill from party rentals for the promotional handouts, balloons, decorations, and prizes was $620, and the newspaper advertising bills from the city star were $700. How to write in out in journ

Received bills totaling $1320 for grand opening/fourth of July party. The bill from party rentals for the promotional handouts, balloons, decorations, and prizes was $620, and the newspaper advertising bills from the city star were $700. How to write in out in journ

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7: Accounting For Cash

Section: Chapter Questions

Problem 4CE

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please help to make accoubting entries .
Saturday, August 15, 2026 Received a bill from Atlas Planning, 2026-1, for some layout designs for remodeling the back room and adding a bigger event space; for $150; due in 15 days ( account/category: Legal and professional fees). Daily sales today were 3 Fresh Flower Bouquets and 3 Birthday Vases paid by debit card and 3 more Fresh Flower Bouquets paid by cash. Mail off cheque 10027 to pay the Chamber of Commerce dues. Placed promotions (account hint) online with Easy Media Design for upcoming Wreath Workshop; 1-week coverage for $295, paid by Visa. A fresh flower bouquet delivery was late; Lynda Higgs is given a refund back to her credit card from the Undeposited Funds account. Make the bank deposit into the TD Operating account for the week's sales in cash and cheques; the deposit should be for $1,440.75. Transfer $633.14 from the Operating account to TD VISA to pay off the balance owing for July 2026. Post the monthly recurring loan payment transfer for August. Create a Report…
Wilson Cafeteria issues gift cards, which are very popular in the small town where the restaurant is located. In a recent month, Wilson issued $4,000 in gift cards. Experience indicates that 80 percent of the cards will be redeemed before they expire. Required: What is the entry to record the estimated gift card expense? If an amount box does not require an entry, leave it blank.
During the month of July, the Town of Lynton recorded the following information related to purchases: Amount of Purchase Order Actual Cost General government $ 556, 000 $ 496,000 Public safety 741, 200 726, 013 Public works 960, 845 469, 480 Culture and recreation 60,270 60,320 Total purchase orders and invoices $ 2,318,315 S 1,751,813 At the end of the month, several purchase orders remained outstanding for all functions except Culture and Recreation. Public Works in particular had a large amount of purchase orders outstanding because it had put in an order for delivery of paving materials to be delivered over the months of July and August. For all but Culture and Recreation, consider the amounts for purchase orders received the same as the actual cost of the items. Required (1) Prepare the general journal entry to record the issuance of the purchase orders. (2) Show entries in subsidiary ledger accounts. (1) Prepare the general journal entries to record the receipt of the goods…
A village ordered supplies for its Fire Department at an estimated cost of $15,030. The supplies were received with an invoice for $15,120. The village accepted the shipment and the invoice. Prepare journal entries to record these transactions in the General Fund. Note: Transactions should be classified as Public safety supplies. Note: Use Credit Vouchers payable when the expenditure is recorded. Journal Entry To record encumbrance for supplies ordered. To reverse encumbrance for supplies received. To record expenditure for supplies. Check Debit Credit 0 0 0 0 0 0 0 0 0 0 0 0
Wilson Cafeteria issues gift cards, which are very popular in the small town where the restaurant is located. In a recent month, Wilson issued $4,000 in gift cards. Experience indicates that 80 percent of the cards will be redeemed before they expire. What is the entry to record the estimated gift card expense? Question 39 options: Gift Card Expense 3,200 Gift Card Payable 3,200 Expense for month ($4,000 × 80%) Gift Card Expense 4,000 Gift Card Payable 4,000 Expense for month Gift Card Payable 3,200 Gift Card Expense 3,200 Expense for month ($4,000 × 80%) Gift Card Payable 4,000 Gift Card Expense 4,000 Expense for month
The Village of Watkins Glenn operated an educational program for at-risk middle school children. Businesses and nonprofit organizations sponsor the children and pay the registration fee. The following cash receipts were collected: Registration Cash loan from bank 310,000 70,000 The following cash disbursements were made: Payroll taxes 30,000 Labor 102,800 14,200 Insurance Interest 2,100 Purchase school bus 65,000 Required: A. Prepare the journal entries to record revenues and disbursements if the city treats the program as an enterprise fund B. Prepare the journal entries to record revenues and disbursements if the city treats the program as a special revenue fund
The School of Accounting (SOA) at State University is planning its annual fundraising campaign for accounting alumni. This year, the SOA is planning a call-a-thon and will ask Beta Alpha Psi members to volunteer to make phone calls to a list of 5,000 alumni. The Dean’s office has agreed to let Beta Alpha Psi use their offices from 6 p.m. to 9 p.m. each weekday so that they will have access to phones. Each volunteer will be provided with a phone and a script with an introduction and suggested responses to various questions that had been asked in the past.Carol Johnson, Beta Alpha Psi faculty advisor, estimates the following:1. Of the 5,000 phone numbers, roughly 10 percent will be wrong numbers (because alumni change addresses and phone numbers without updating State University). In that case, thestudent is instructed to apologize to the answering party, hang up, and move on to the next phone number. Each of these calls takes about three minutes.2. Another 15 percent will be correct…
The School of Accounting (SOA) at State University is planning its annual fundraising campaign for accounting alumni. This year, the SOA is planning a call-a-thon and will ask Beta Alpha Psi members to volunteer to make phone calls to a list of 7,000 alumni. The Dean's office has agreed to let Beta Alpha Psi use their offices from 6 p.m. to 9 p.m. each weekday so that they will have access to phones. Each volunteer will be provided with a phone and a script with an introduction and suggested responses to various questions that had been asked in the past. Monique Johnson, Beta Alpha Psi faculty advisor, estimates the following: Of the 7,000 phone numbers, roughly 10 percent will be wrong numbers (because alumni change addresses and phone numbers without updating State University). In that case, the student is instructed to apologize to the answering party, hang up, and move on to the next phone number. Each of these calls takes about three minutes. Another 15 percent will be correct…
The village of Old Road orders a computer costing $600,000. The village finances the computer by issuing a $600,000 long-term bond at face value. The village receives the computer and pays cash of $600,000. b) Prepare the journal entries to record these events assuming they were recorded in the Enterprise Fund. If no entry is required, select 'No debit (or credit) entry required' in the account field and enter 0 or leave the debit and credit fields blank.
A Charity put on a hall party to raise funds. It estimated the following costs: Appetizers (per person) $20 Drinks (per person) $10 D.J Hall Rental Magician Advertising/Insurance $3,000 $900 $3,000 $2,300 Committee wants to charge $55 per person. 1.) Commute the break even point (in terms of number of people who must attend the party) 2.) What if they want to raise $5,000. How many people must attend? 3.) What can we change if we do not know that many people (list 2)
Record the following events of Chemical Dependency Clinic, a VHWO:1. Membership dues of $9,000 were collected.2. Cash contributions of $22,000 and pledges for $32,000 were received.3. It is estimated that 10% of the above pledges will prove uncollectible.4. A fund-raising dinner grossed $12,000 from the sale of 480 tickets. The catered dinner cost $15 each for the 420 people who attended, plus $200 for the rental of the dining room. Payment for these costs was made.5. A classic car was donated to the organization. The car has an estimated fair value of $75,000. It will be the main attraction of an auction to be held in the next accounting period. The proceeds of the auction are part of the budget for activities in the next period.6. To expand the services of the clinic, a professional fund-raising group was hired to undertake a 6-month campaign. At the end of the six months, the group submitted the report shown below.Cash collected . . . . . . . . . . . . . . . . . . . . . . . . . . .…