Chapter 3, Problem 5PSA

Prepare journal entries to record the following transactions for the month of July: A. on first day of the month, paid rent for current month, $2,000 B. on tenth day of month, paid prior month balance due on accounts, $3,100 C. on twelfth day of month, collected cash for services provided, $5,500 D. on twenty-first day of month, paid salaries to employees, $3,600 E. on thirty-first day of month, paid for dividends to shareholders, $800

The following were selected from among the transactions completed by Caldemeyer Co. during the current year. Caldemeyer sells and installs home and business security systems.   Required: Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year. Assume this is a year in which February has 28 days.

Macroware Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Three Months Ended 3/31/2020 (03) 12/31/2019 (Q2) $ 19,805 $ 12,895 $ 23,325 $ 22,110 Balance Sheets: Accounts receivable, net Income statements: Sales revenue 6/30/2020 (04) $ 15,361 $ 24,545 Required: Compute the receivables turnover ratio and the average collection period for Q4 and Q3. Assume that each quarter consists of 91 days. Note: Round "Receivables turnover ratio" answers to 3 decimal places and "Average collection period" answers to 2 decimal places. Answer is complete but not entirely correct. Receivables turnover ratio Q4 Receivables turnover ratio Q3 Average collection period Q4 Average collection period Q31 1.396 times 1.427 Simes 261.46 days 255.78 days

Macroware Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Balance Sheets: Three Months Ended 6/30/2020 (04) 3/31/2020 (Q3) 12/31/2019 (Q2) Accounts receivable, net Income statements: $ 15,761 $ 19,810 $ 12,900 Sales revenue $ 24,550 $ 23,330 $ 22,120 Required: Compute the receivables turnover ratio and the average collection period for Q4 and Q3. Assume that each quarter consists of 91 days. Note: Round "Receivables turnover ratio" answers to 3 decimal places and "Average collection period" answers to 2 decimal places. Receivables turnover ratio Q4 times Receivables turnover ratio Q3 times Average collection period Q4 days Average collection period Q3 days

The December 31, 2021, ledger of accounts receivable has a balance of 24,000,000. On this date, the company estimates 1,200,000 to be uncollectible , whereas 2,000,000 have to be written off.Required:1. Carry out any necessary journal entries.2. Present the accounts receivable extract as it has to appear in the statement of financial position of December 31,2021.

Mar. 22) The company received $6,200 cash as partial payment for the work completed on March 9. Note: Enter debits before credits.         Date Account Title Debit Credit Mar 22

Please provide a narrative when doing questions 1-4. Thank you.

Taylor R incorporation reported the following balances after adjustment at the end of 2020 and 2019. total accounts receivable 2020 100,000 2019 95,000 net accounts receivable 2020 75,000 2019 85,000 During 2020 Taylor road of customer accounts, totaling 3000 and collected 750 on accounts written off In previous years, tailors doubtful accounts expense for the year ending December 3120 20 Is

The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash 24,600   Accounts Receivable 15,400   Prepaid Insurance 12,000   Land 148,000   Accounts Payable   6,700 Deferred Revenue   5,800 Common Stock   143,000 Retained Earnings   44,500 Totals $200,000 $200,000 The following is a summary of the transactions for the year:   1. January 9 Provide storage services for cash, $134,100, and on account, $52,200. 2. February 12 Collect on accounts receivable, $51,500. 3. April 25 Receive cash in advance from customers, $12,900. 4. May 6 Purchase supplies on account, $9,200. 5. July 15 Pay property taxes, $8,500. 6. September 10 Pay on accounts payable, $11,400. 7. October 31 Pay salaries, $123,600. 8. November 20 Issue shares of common stock in exchange for $27,000 cash. 9. December 30 Pay $2,800 cash dividends to stockholders.     Cash         Accounts Receivable…