transactions were taken from the records the records of Shaw Company for the first year of its operations ending December 31, 2008: Jan. 31. Wrote off account of B. Roberts, $2,400. Mar. 26. Received $1,500 as partial payment on the $3,500 account of Carol Castellino. Wrote off the remaining balance as uncollectible. July 7. Received […]
Read More »Royal Carpet Company’s account and accounts receivable. Accounts receivable balance, January 1, 2010 $ 64,500 Allowance for doubtful accounts, January 1, 2010 2,800 Sales on account, 2010 756,000 Cost of goods sold, 2010 505,000 Royal Carpet Company’s Collections of accounts receivable, 2010 782,000 After several collection attempts, Royal Carpet Company wrote off $2,600 of accounts […]
Read More »Bank Reconciliation The following information was included in the bank reconciliation for Rytton, Inc., for June. What was the total of outstanding checks at the beginning of June? Assume all other reconciling items are listed. Checks and charges recorded by bank in June, including a June service charge of $30 $17,210 Service charge made by […]
Read More »Supplement Recording Credit Sales Sales Returns, and Credit Card Sales The following transactions were selected from among those completed by Hailey Retailers in 2010: Nov. 20 Sold two items of merchandise to Customer B, who charged the $450 sales price on her Visa credit card. Visa charges Hailey a 2 percent credit card fee. 25 […]
Read More »The Flatiron Pub provides catering services to local businesses. The following information was available for The Flatiron for the years ended December 31, 2011 and 2012. Flatiron management is preparing for a meeting with its bank concerning renewal of a loan and has collected the following information related to the above balances. 1. The cash […]
Read More »The following data relate to notes receivable and interest accounts of Julia Jay, Inc., during 2012: a. The opening credit balance in Allowance for Bad Debts was $600,000 at January 1, 2012. b. During 2012, the company realized that specific accounts receivable totaling $630,000 had gone bad and had been written off. c. An account […]
Read More »The following information is available for Prime Company as 30, 2011: a. Cash on the books as of April 30 amounted to $113,175.28. Cash on the bank statement for the same date was $140,717.08. b. A deposit of $14,349.84, representing cash receipts of April 30, did not appear on the bank statement. c. Outstanding checks […]
Read More »The financial statements The Coca-Cola Company and PepsiCo, Inc. can be accessed at the book’s website. Instructions (a) What employee stock option compensation plans do Coca-Cola and PepsiCo offer? (b) How many options did Coca-Cola and PepsiCo grant to officers and employees during 2006? (c) How many options did employees of Coca-Cola and PepsiCo exercise […]
Read More »Electrical Lab The labs reports must be done in words. my deadline is on the 10/18/13 at 2 PM Pacific time. Lab 1 contain the informatiom to a software which need to be download to complete the labs. Document Preview: ELEC360 Generation and Transmission of Electrical Power Module 3 Lab: Building and Testing a 6 […]
Read More »Harold Long started a business in May 20– called Harold’s Home Repair. Long hired a part-time college student as an assistant. Long has decided to use the following accounts for recording transactions: Assets Ownerâs Equity Cash Harold Long, Capital Accounts Receivable Harold Long, Drawing Office Supplies Revenue Prepaid Insurance Service Fees Equipment Expenses Van Rent […]
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