s: Prepare the journal entry for each transaction. Use the following account numbers for posting reference. Writc your answers on a separate shect of paper. Assets Revenue 101 Cash 401 Service Revenue 102 Accounts Receivable Expenses
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Prepare the journal entry for each transaction
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- NOTES PAYABLE ENTRIES Milo Radio Shop had the following notes payable transactions: REQUIRED Record the transactions in a general journal.Assessment Directionis: Prepare tht journal entry fur ech trannactiun Use the follewing account rumbers for pooting vofarmmoc. Write your anawora on a noprate sheet of paper. Ansria Revenue 101 Cash 401 Service Roventae 102 Accounts Reccivable ExpenLeK 501 Salarice Expense Rent Expenne S03 Utlities Experse S04 Advertisinng Expense Miscellaneous Expenne 103 Supplica 104 Service Vahicie 502 Linbility 201 Arcounta Payaıle Owner's Equity 505 Angelie, Capital Angelie, Drowingn 301 302 Micbelle Angelie catabliahed Angelie'n Advartiaing Buoiness. The following are that trandactionn for the whole month of October 2019. Michele Angclic deposited P250,000 under the name of the buaines She aoquired a service vebkcln in the amount of F195,000 an aocount. Ot 1. She aoquired supplles for cash worth P57.000. Sho recolved Pg7,500 coalı for palnted ulgna. 10 Sho paid the nonth'a rent amounting to P25,000. 11 Sho pulnted signa for Mundo Mobile an accDunt for P170,000. 12 She pald PS5,000 on account from…A summarized statement of transactions relating to a particular person, item expense or income. a. invoice O b. voucher chart of accounts Cd. accounts
- Indicate the order in which the following onscreen Vendors and Expenses transaction forms typically should be prepared. Expense > Pay Bills Check > Pay Bills Bill > Pay Bills Invoice > Pay BillsShow a journal entry writing off an account using both the allowance method and the direct write-off method. NOTE: YOU CAN INCLUDE ANY AMOUNTS AS LONG AS THEY MAKE SENSE, BUT DO NOT FORGET TO INCLUDE ACTUAL NUMBERS FOR THIS JOURNAL SHOWING BOTH METHODS AS STATED ABOVE. THIS CAN BE MADE UP BUT DO NOT FORGET THE NUMBERS.Instructions The following equity investment transactions were completed by Romero Company during a recent year. Apr. July Sept. 10 Purchased 4,700 shares of Dixon Company for a price of $49 per share plus a brokerage commission of $120. 8 Received a quarterly dividend of $0.70 per share on the Dixon Company investment. 10 Sold 1,900 shares for a price of $41 per share less a brokerage commission of $75. Journalize the entries for these transactions. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers the nearest dollar.
- Date Account Titles eTextbook and Media Debit CreditInstructions On January 1, the first day of its fiscal year, Chin Company issued $24,200,000 of five-year, 11% bonds to finance its operations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 13%, resulting in Chin Company receiving cash of $22,460,399. Required: A. Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of account titles): 1. Issuance of the bonds. 2. First semiannual interest payment. The bond discount amortization, using the straight-line method, is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) 3. Second semiannual interest payment. The bond discount amortization, using the straight-line method, is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) B. Determine the amount of the bond interest expense for the first year. C. Explain why the company…A document that asks you to return an identifying part of it with your payment is a(n) ________.A. source documentB. cloud documentC. point-of-sale documentD. turn-around document
- In Quickbooks, for a purchase on account and the subsequent payment for the purchase, which business forms are used to record the purchase and payment.QuickBooks: For a purchase and the subsequent payment for the purchase, indicate which business forms are used to record the purchase and payment."Identifying general and subsidiary ledgers C2For each account, indicate whether it appears in the general ledger or the subsidiary ledger.a. Accounts Receivable—Martinb. Interest Expensec. Prepaid Rentd. Accounts Payable—Juliee. Notes Payablef. Store Supplies