FUND.ACCT.PRIN.
25th Edition
ISBN: 9781260247985
Author: Wild
Publisher: RENT MCG
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Question
Chapter 4, Problem 20QS
a.
To determine
Concept Introduction:
Accounting cycle: The repetitive process in accounting performed in preparing financial statements for every reporting period is stated as an accounting cycle. The steps involved are reporting the historical events and financial transactions that have incurred, correctly.
To prepare: The
b.
To determine
Concept Introduction:
Accounting cycle: The repetitive process in accounting performed in preparing financial statements for every reporting period is stated as an accounting cycle. The steps involved are reporting the historical events and financial transactions that have incurred, correctly.
To prepare: The Reversing entry as on Jan. 1
c.
To determine
Concept Introduction:
Accounting cycle: The repetitive process in accounting performed in preparing financial statements for every reporting period is stated as an accounting cycle. The steps involved are reporting the historical events and financial transactions that have incurred, correctly.
To prepare: The Cash Receipts entry as on Jan. 16
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Prepare Journal Entries in a Revenue Journal
Horizon Consulting Company had the following transactions during the month of October:
Oct. 2.
Issued Invoice No. 321 to Pryor Corp. for services rendered on account, $370.
Oct. 3.
Issued Invoice No. 322 to Armor Inc. for services rendered on account, $520.
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Issued Invoice No. 323 to Pryor Corp. for services rendered on account, $190.
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REVENUE JOURNAL
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Oct. 2
Oct. 3
Oct. 14
Oct. 24
Oct. 31
b. What is the total amount posted to the accounts receivable and fees earned accounts from the revenue journal for October?
Accounts…
Prepare Journal Entries in a Revenue Journal
Horizon Consulting Company had the following transactions during the month of October:
Oct. 2.
Issued Invoice No. 321 to Pryor Corp. for services rendered on account, $595.
Oct. 3.
Issued Invoice No. 322 to Armor Inc. for services rendered on account, $310.
Oct. 14.
Issued Invoice No. 323 to Pryor Corp. for services rendered on account, $205.
Oct. 24.
Issued Invoice No. 324 to Rose Co. for services rendered on account, $850.
Oct. 29.
Collected Invoice No. 321 from Pryor Corp.
What is the total amount posted to the accounts receivable and fees earned accounts from the revenue journal for October?
Chapter 4 Solutions
FUND.ACCT.PRIN.
Ch. 4 - Prob. 1QSCh. 4 - Prob. 2QSCh. 4 - Computing ending capital balance using work sheet...Ch. 4 - Preparing a partial work sheet P1 The ledger of...Ch. 4 - Explaining temporary and permanent accounts Choose...Ch. 4 - Preparing closing entries from the ledger P2 The...Ch. 4 - Prob. 7QSCh. 4 - Prob. 8QSCh. 4 - Prob. 9QSCh. 4 - Prob. 10QS
Ch. 4 - Prob. 11QSCh. 4 - Prob. 12QSCh. 4 - Prob. 13QSCh. 4 - Prob. 14QSCh. 4 - Prob. 15QSCh. 4 - Prob. 16QSCh. 4 - Prob. 17QSCh. 4 - Prob. 18QSCh. 4 - Prob. 19QSCh. 4 - Prob. 20QSCh. 4 - Exercise 4-1 Extending adjusted account balances...Ch. 4 - Exercise 4-2 Extending accounts in a work sheet Pl...Ch. 4 - Exercise 4-3 Preparing adjusting entries from a...Ch. 4 - Exercise 4-4 Preparing unadjusted and adjusted...Ch. 4 - Exercise 4-5 Determining effects of closing...Ch. 4 - Exercise 4-6 Completing the income statement...Ch. 4 - Exercise 4-7 Preparing a work sheet and recording...Ch. 4 - Exercise 4-8
Preparing and posting closing...Ch. 4 - Exercise 4-9 Preparing closing entries and a...Ch. 4 - Exercise 4-10 Preparing closing entries and a...Ch. 4 - Prob. 11ECh. 4 - Exercise 4-12 Preparing a classified balance sheet...Ch. 4 - Exercise 4-13 Computing the current ratio A1 Use...Ch. 4 - Exercise 4-14 Preparing closing entries P2...Ch. 4 - Exercise 4-15 Computing and analysing the current...Ch. 4 - Exercise 4.16A Preparing reversing entries P4 Hawk...Ch. 4 - Exercise 4-17APreparing reversing entries P4 The...Ch. 4 - Problem 4-1A Applying the accounting cycle C2 P2...Ch. 4 - Problem 4-2A Preparing a work sheet, adjusting and...Ch. 4 - Problem 4-3A Determining balance sheet...Ch. 4 - Problem 4-4A Preparing closing entries, financial...Ch. 4 - Problem 4-5A Preparing trial balances, closing...Ch. 4 - Problem 4-6AA Preparing adjusting, reversing, and...Ch. 4 - Problem 4-1B Applying the accounting cycle C2 P2...Ch. 4 - Prob. 2PSBCh. 4 - Problem 4-3B Determining balance sheet...Ch. 4 - Prob. 4PSBCh. 4 - Problem 4-5B Preparing trial balances, closing...Ch. 4 - Problem 4-6BAPreparing adjusting, reversing, and...Ch. 4 - The December 31. 2019= adjusted trial balance of...Ch. 4 - Transactions from the Fast Forward illustration in...Ch. 4 - Prob. 2GLPCh. 4 - Prob. 3GLPCh. 4 - Based on Problem 4-6ACh. 4 - Prob. 5GLPCh. 4 - Refer to Apple' s financial statements in Appendix...Ch. 4 - Prob. 2AACh. 4 - Prob. 3AACh. 4 - Prob. 1DQCh. 4 - That accounts are affected by closing entries?...Ch. 4 - Prob. 3DQCh. 4 - What is the purpose of the Income Summary account?Ch. 4 - Prob. 5DQCh. 4 - Prob. 6DQCh. 4 - Why are the debit and credit entries in the...Ch. 4 - Prob. 8DQCh. 4 - Prob. 9DQCh. 4 - How is unearned revenue classified on the balance...Ch. 4 - Prob. 11DQCh. 4 - Prob. 12DQCh. 4 - Prob. 13DQCh. 4 - Prob. 1BTNCh. 4 - Prob. 2BTNCh. 4 - Prob. 3BTNCh. 4 - The unadjusted trial balance and information for...
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