User Account

All Pages

Prepare the journal entries to record the cash service fees

Assignment Help Accounting Basics
Reference no: EM132743612

Question: Prepare the journal entries to record the cash service fees and cash short and over for each of the five weeks. If an amount box does not require an entry, leave it blank. When required, enter amounts in dollars and cents. Do not enter the posting reference until you have completed part 2. Post to the cash short and over account (use Account No. 516). Enter in chronological order. If an amount box does not require an entry, leave it blank. When required, enter amounts in dollars and cents. After you post to the general ledger, go back and complete the posting in part 1 for the cash short and over account only. Determine the ending balance of the cash short and over account.

Does it represent an expense or revenue?

Reference no: EM132743612

Questions Cloud

Estimate cash receipts for each month of the first quarter : Credit sales in December 2017 are expected to be $194,000. Estimate cash receipts for each month of the first quarter of 2018
Describe the accounting treatment required by codification : Describe the accounting treatment required by the Codification for each alternative. Support your explanations with draft journal entries.
How calculate the net present value or npv of the project : 10% each year from the initial revenue of $6,500,000. Assume company's cost of capital is 10%. Calculate the Net Present Value (NPV) of the project.
Prepare the journal entry to record the redemption of bonds : Prepare the journal entry to record the redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded
Prepare the journal entries to record the cash service fees : Prepare the journal entries to record the cash service fees and cash short and over for each of the five weeks. If an amount box does not require an entry.
Compute the effective annual rate : Compute the effective annual rate (EAR) if the fortnightly annual percentage rate (APR) is 7%. Provide your answer (in percentage) to two decimal places
Is all revenue good revenue : Is all revenue good revenue? If we merely follow the rules and blindly capture data and report it with no synthesis and decision support implications
How much revenue recognise in the financial statements : The publication dispatched to the customer on 1st day of each calendar month. How much revenue should recognise in the financial statements for 31 Dec 2002
What are the standard deviations of the returns on the share : What are the standard deviations of the returns on the shares? You believe that there is a 50 per cent chance that the share price of Company L will decrease

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd