Saturday, August 15, 2026Received 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 ReportPrepare a Sales by Customer Summary report for Melanie for the week (August 9-15). Total sales should be $2,935.00.

To create a detailed report based on the transactions and events that occurred on Saturday, August…

Answered: Saturday, August 15, 2026 Received a…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter18: Acquiring Capital For Growth And Development

Section: Chapter Questions

Problem 1AP

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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
Prepare journal entries to record the following transaction: Ikeo Inc. sold $100,000 of gift cards during the last 2 weeks of December 2020
At December 31, 2019, Park Beauticians had 1,000 gift certificates outstanding, which had been sold to customers during 2019 for $50 each. Park operates on a gross margin of 60%. How much revenue pertaining to the 1,000 outstanding gift certificates should be deferred at December 31, 2019? a. $50,000 b. $30,000 c. $20,000 d. $0 Back Next
need help with full working and steps thanks answer in text Listed below are selected transactions of Solution Department Store for the current year ending December 31. a. On December 5, the store received $500 from the Jackson Players as a deposit to be returned after certain furniture to be used in stage production was returned on January 15. b. During December, cash sales totaled $798,000, which includes the 5% sales tax that must be remitted to the state by the fifteenth day of the following month. c. On December 10, the store purchased for cash three delivery trucks for $120,000. The trucks were purchased in a state that applies a 5% sales tax. d. The store determined it will cost $100,000 to restore the area (considered a land improvement) surrounding one of its store parking lots, when the store is closed in 2 years. Solution’s estimates the fair value of the obligation at December 31 is $84,000. Required: Prepare all the journal entries necessary to record the…
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.
Marin Shed Solutions sells its largest shed for $1,100 plus HST of 13 %. On May 10, 2024, it sold 26 of these sheds. On May 17,2024, the company sold 85 of these sheds. All sales are cash sales. For each day's sales, calculate the HST. May 10, 2024 May 17, 2024 Question Part Score $ Date $ HST payable Prepare a journal entry to record the sales. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Account Titles Debit --/2 Credit
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Vindows constructs and installs windows for new homes. The sales staff are having a meeting and reviewing the following information to determine how to help reduce days' sales uncollected. Accounts receivable Net sales 2023 2022 2021 $ 634,000 $492,000 $ 414,000 6,590,000 5,714,000 4,985,000 Required: a. Calculate the days sales uncollected for 2021 to 2023 and identify whether the trend is favourable or unfavourable (Round the final answer to 2 decimal places. Do not round intermediate calculation. Use 365 days a year) Days' sales uncollected 2023 + 35 07 days 2022 31 55 days 2021 30 36 days Unfavorable Seve -. What can a salesperson do to improve days' sales uncollected? (You may select more than one answer. Single click the box with me question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the bo or a wrond answer.)
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Prepare transactions
Spring Appliances received an invoice dated August 18 with terms 2/10 E.O.M. for the items listed below. 6 refrigerators at $1030 each less 30% and 5% 3 dishwashers at $784 each less 15 and one third %, 12.2%, and 3% (a) What is the last day for taking the cash discount? (b) What is the amount due if the invoice is paid on the last day for taking the discount? (c) What is the amount of the cash discount if a partial payment is made such that a balance of $1700 remains outstanding on the invoice?
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