Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The following are selected transactions of Ricks Auto Part. Ricks prepares financial statements semi annually.
Jan 1 Purchased merchandise on account from Autocraft, $15,000, terms 1/5, n/eom.Feb 1 Issued a 15%, 6 month, $15,000 note to Autocraft in payment of account.Feb 20 Purchased supplies from Mobil Oil paying $400 in cash and signing a 8%, 2 month, $1,500 note.Apr 20 Paid face value and interest on Mobil Oil note.Jun 1 Accrued interest for 6 months Autocraft note.July 5 Borrowed $30,000 from Bankers Bank by issuing a 4 month, 10% note .Aug 1 Paid face value and interest on Autocraft note.Nov 5 Paid face value and interest on Bankers Bank note.
Instructions:
Prepare journal entries for the above transactions and events.
The capital balance for Bolcar is $110,000 and for Neary is $40,000. The two partners share profits and losses 70 percent (Bolcar) and 30 percent (Neary). Kansas invests $50,000 in cash into the partnership for a 30 percent ownership. The bonus me..
A check drawn by a depositor for $180 in payment of a liability was recorded in the journal as $810? This item would be included on the bank reconciliation as?
Discuss ideas for a new business in your community. Explain what is the new business will you provide and why your community is need of such a business.
The budgeted unit sales of Haerve Company for the upcoming fiscal year are provided below: Prepare the company's selling and administrative expense budget for the upcoming fiscal year.
The total of the individual customer account balances should equal the balance in accounts receivable, which is the
Purchased raw materials at a cost of $45,000 and general factory supplies at a cost of $13,000 on account (recorded materials and supplies in the materials account)
Calculate the amount of amortization that should be recorded on December 31, 2002.
At the time Fisher Corporation became a subsidiary of Ashbury Corporation, Fisher switched depreciation of its plant assets from the straight-line method to the sum-of-the-years'-digits method used by Ashbury.
What additional obligations do you have when it comes to donation management that does not exist concerning other types of revenue?
The mean shopping time for the sample of 50 shoppers is 25.36 minutes with a standard deviation of 7.24 minutes. Using the 0.10 level of significance, is there evidence that the mean shopping time at the local supermarket is different from the cla..
Analyze the above information and prepare an income statement for the year 2012, starting with income from continuing operations before income tax. Compute earnings per share as it should be shown on the face of the income statement.
Pacific has the following account balances as of Feb 1. Western pays $2,020,000 in cash. An additional $20,000 is paid in direct combination costs. For each of the following accounts, determine what balance will be included in a Feb 1 consolidatio..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd