2010 jan 9- purchased computer equipment at a cost of 10000

Assignment Help Accounting Basics

Reference no: EM13604417

2010 Jan 9- Purchased computer equipment at a cost of $10,000, signing a six month, 8% note payable for that amount. Jan 29- Recorded the week's sales of $67,000, three-fourth on credit, and one-fourth for cash. Sales amounts are subject to a 6% state sales tax. Feb 5- Sent the last week's sales tax to the state. Feb 28- Borrowed $210,000 on a four-year, 9% note payable that calls for $52,500 annual installment payments plus interest. Record the short-term and long-term portions of the note payable in two separate accounts. July 9- Paid the six-month, 8% note, plus interest, at maturity. Aug 31- Purchased inventory for $6,000, signing a six-month, 10% note payable. Dec 31- Accrued warranty expenses, which is estimated at 3% of sales of $601,000. Dec 31- Accrued interest on all outstanding notes payable. Make a separate interest accrual for each note payable. 2011 Feb 28- Paid the first installment and interest for one year on the four-year note payable. Feb 28- Paid off the 10% note plus interest at maturity

. REQUIREMENT: Journalize the transactions in Brewton's general journal.

Reference no: EM13604417

Questions Cloud

One swimmer in a relay race has a 0485 s lead and is : one swimmer in a relay race has a 0.485 s lead and is swimming at a constant speed of 3.84 ms. he has 48.5 m to swim

Esplanade company was formed december 1 2009 the following : esplanade company was formed december 1 2009. the following information is available from esplanades inventory records

Find the standard normal curve area that : find the standard normal curve area that liesa. to the left of z0.27b. between z1.69 and

A sealed cubical container 270 cm on a side contains three : a sealed cubical container 27.0 cm on a side contains three times avogadros number of molecules at a temperature of

2010 jan 9- purchased computer equipment at a cost of 10000 : 2010 jan 9- purchased computer equipment at a cost of 10000 signing a six month 8 note payable for that amount. jan

E-tech initiatives limited plans to issue 440000 10-year 8 : e-tech initiatives limited plans to issue 440000 10-year 8 percent bonds. interest is payable annually on december 31.

A particle which moves with curvilinear motion has : a particle which moves with curvilinear motion has coordinates in meters which vary with time t in seconds according

The new river gorge bridge in west virginia is a 518 m : the new river gorge bridge in west virginia is a 518 m long steel arch. how much will its length change between

Department w had 2400 units one-third completed at the : department w had 2400 units one-third completed at the beginning of the period 14000 units were transferred to

User Account

All Pages