How journalize the transactions on the journal page

Assignment Help Accounting Basics
Reference no: EM132756794

Problem 1: Journalize the following transactions on the journal page below. Add explanations for the transactions and leave a space between each.

Paid the rent for May, $1500. by cheque, # 85
Received $340 from Southco on the account. Hint - if you are receiving money is this A/R or A/P?
Completed a consulting service for P. Plum on account, $550
Paid $65 to Erin Repair on account owner
The owner, Tabatha Lin, withdrew $375 cash for personal use.
Paid $43 for the phone bill by cheque #86
Got the company van repaired on account with Erin Repair, $282
Received $550 from P. Plum on the account.
Completed a consulting service for G. Dekker, $768, paid by cheque.
Paid wages of $600, paid by cheque #87

Reference no: EM132756794

Questions Cloud

What is the most it should pay for that opportunity : At the end of each of the next 5 years, into a savings account that pays 7% annual interest. What is the most it should pay for that opportunity
How much is ordinary shares on january entry : On January 10 entry, how much is Ordinary Shares? On January 3, Kirby Company was authorized to issue 10,000 shares of P100 par value ordinary shares.
How much would have in account at the end of three years : Bruno Earth deposited Php 5,000 in a bank paying 9% simple interest for 3 years. How much would he have in his account at the end of three years
Calculate the net present value of new production equipment : The new equipment will have a five-year life and cost $390,000, Calculate the net present value of the new production equipment
How journalize the transactions on the journal page : Journalize the following transactions on the journal page below. Add explanations for the transactions and leave a space between each.
Decision makers to consider their attitudes toward risk : Why is it important for decision makers to consider attitudes toward risk? Discuss concept of the certainty effect and how it affects decisions of individuals
What is the expected return of abc shares : If the shares are selling for $25/share, should you make the investment? What is the expected return of ABC's shares according to the CAPM?
What is the equivalent annual saving from the purchase : The firm's tax rate is 21%. What is the equivalent annual saving from the purchase if Gluon can depreciate 100% of the investment immediately
Which transfers resulted to difference in freight charge : The freight charges would have been P9,000. The transfers resulted to difference in freight charge which should be disposed of as follow

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd