E3-8 adjusting entries andy roddick is the new owner of ace

Assignment Help Accounting Basics

Reference no: EM13589728

E3-8 (Adjusting Entries) Andy Roddick is the new owner of Ace Computer Services. At the end of August 2014, his first month of ownership, Roddick is trying to prepare monthly financial statements. Below is some information related to unrecorded expenses that the business incurred during August. 1. At August 31, Roddick owed his employees $1,900 in wages that will be paid on September 1. $1,900 2. At the end of the month he had not yet received the month's utility bill. Based on past experience, he estimated the bill would be approximately: $600 3. On August 1, Roddick borrowed $30,000 from a local bank on a 15 -year mortgage. The annual interest rate is 8% 4. A telephone bill in the amount of $117 covering August charges is unpaid at August 31.

Reference no: EM13589728

Questions Cloud

What volume of a concentrated hcl solution which is 36 hcl : question what volume of a concentrated hcl solution which is 36 hcl by mass and has a density of 1.179 gmol should be

There were 6000 units in beginning inventory during the : there were 6000 units in beginning inventory. during the year the company manufactured 60000 units and sold 63500

In addition the company has fixed selling and : in addition the company has fixed selling and administrative costs of 150000 per year. during the year peak produces

Dave and peterson are partners sharing profits in the : dave and peterson are partners sharing profits in the ratio of 53. victoria is admitted to the partnership for 14th

E3-8 adjusting entries andy roddick is the new owner of ace : e3-8 adjusting entries andy roddick is the new owner of ace computer services. at the end of august 2014 his first

Determine the payback period for each project calculate : the sanders electric company is evaluating two projects for possible inclusion in the firms capital budget. project m

An acetylene tank for oxyacelylene welding will provide : question an acetylene tank for oxyacelylene welding will provide 9340 liters of acetylene gas c2h2 at stp. how many

Great forks hospital reported net income for 2012 of 24 : great forks hospital reported net income for 2012 of 2.4 million on total revenues of 30 million. depreciation expense

If these projects are mutually exclusive which ones should : for the following projects compute nw irr killtr pi and payback. if these projects are mutually exclusive which ones

User Account

All Pages