Roland Company began operations on December 1 and needs assistance in preparing December 31 financial statemyear-end adjustments. The Tableau dashboard is provided to assist in the work.Selected December-January TransactionsFinished Work for TeloDec. 31 Year-EndPurchased InsuranceStarted Work for TeloDec 13Dec 7Dec 24)(Jan 12Dec 1Jan 5December 13Agreed to do $10,000 worth of work for Telo over the next 30 days. Payment is to be received when the work iscompleted on Jan. 12.Purchased SuppliesReceived Cash in AdvanceWages PaidSelected December-January TransactionsDec. 31 Year-EnduranceStarted Work for TeloFinished Work for TeloDec 7Dec 13January 12Received $10,000 cash from Telo for work performed over the last 30 days.Purchased SuppliesReceived Cash in AdvanceWages Paid

The given question will be solved using the % of completion method. Firstly, we have to calculate…

Answered: Roland Company began operations on…

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 4.9C

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Censider the following note payable transactions of Cargo Video Productions. D(Click the icon to view the transactions.) Requirements 1. Journalize the transactions for the company. Considering the given transactions only, what are Cargo Video Productions' total liabilities on December 31, 2019? 2. X Select explanations on the last line More Info he note requires annual principal pa Credit 2018 Oct. 1 Purchased equipment costing $40,000 by issuing a five-year, 9% note payable. The note requires annual principal payments of $8,000 plus interest each October 1. Dec. 31 Accrued interest on the note payable. 2019 Oct. 1 Paid the first installment on the note. Dec. 31 Accrued interest on the note payable. Print Done 4
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