Journalise the following transactions: 1)Roy started a window cleaning business by opening a bank account under the name "Pane Is Our Business" with a deposit of $15,000 from his personal account. 2)Purchased supplies on account for $1,500. 3)Billed customers, who have 30 days to pay, a total of $2,600 for window cleani
The trial balance of Ramsey Company shows the following balances for selected accounts on November 30, 2003: Prepaid Insurance $10,000 Unearned Revenue $ 2,400 Equipment 60,000 Notes Payable 20,000 Accumulated Depreciation 6,600 Interest Payable 400 Instructions: Usin
A parent acquired 100% of a subsidiary by exchanging stock valued at $2,000,000. The equity of the sub was $1,500,000 and the fair market value of the fixed assets exceeded the book value by 200,000. 1. What would be the consolidation entry under a purchase? 2. What do you think would be the consolidation entry if the parent
1. Prepare a cost of production for the shifting Department for July. 2. Journalize the entries for costs transferred from Milling to sifting and the costs transferred from sifting to Packaging. 3. Discuss the uses of the cost of production report.
On July 1, 2002, Cucumber Communications Equipment Inc. issued $10,000,000 of ten year, 9% bonds at an effective interest rate of 10%. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Instructions 1. Journalize the entr
Which of the following accounts would not be found in an adjusting entry? A) Accumulated depreciation. B) Cash. C) Wages expense. D) Unearned revenue. Please select one of the following answers stated above.
Journalize the following transactions related to stock issuances. 1. Issued 400 shares of 75$ par value of preferred stock in exchange for land that had an appraised value of 38,000. 2. Issued 17,500 shares of $10 par value common stock for $16 per share. 3. Purchased 3,800 shares of common stock for treasury at $17 per shar