Prepare a journal entry for each of the transactions

Assignment Help Financial Accounting
Reference no: EM132986399

Remington Communications has been providing cellular phone service for several years. During November and December, the following transactions occurred:

Nov.

2 Remington received $2,100 for November phone service from Enrico Company.

6 Remington purchased $3,750 of supplies from Technology Associates on account.

10 Remington paid $4,650 to its hourly employees for their weekly wages.

15 Remington paid $3,750 to Technology Associates in full settlement of its account payable.

28 Remington paid $1,750 for utilities used during November.

30 Remington received a bill from Monticello Construction for $1,930 for repairs made to Remington's loading dock on November 15. Remington plans to pay the bill in early December.Dec.10Remington paid $1,930 to Monticello Construction to settle the repair bill received on November 30.

Problem 1: Prepare a journal entry for each of the above transactions.

Reference no: EM132986399

Questions Cloud

Prepare the necessary adjusting entries at december : Prepare the necessary adjusting entries at December 31, 2011, for the Microchip Company for each of the situations. Depreciation on machinery is $2400 for years
Variety of foods and beverages around the world : PepsiCo Inc. is an American multinational corporation that offers a variety of foods and beverages around the world.
Determine the number of days sales in receivables : A company reports the following: Sales $531,440 and Average accounts receivable (net) 37,960. Determine the number of days' sales in receivables
What is the value of koka kola investment in dog : What is the value of Koka Kola's investment in Dog at the end of the fiscal year? Koka Kola purchases $5,000,000 of Dane's Outstanding Grub (Dog)
Prepare a journal entry for each of the transactions : Remington paid $3,750 to Technology Associates in full settlement of its account payable. Prepare a journal entry for each of the above transactions.
Prepare the journal entry on march : Lease also gave Retail the right to rent store space for 5 years. Interest rates for notes of this type were 6% at issue. Prepare the journal entry on March
Prepare a memo explaining how net income could be positive : Prepare a memo explaining how net income could be positive and operating cash flows is negative. Include in your report the calculation of operating cash flows
Exemplary business presentation : Please, how does an exemplary business presentation looks like?
Explain the core principles of research ethics : Question: Use an example of a research project to explain the core principles of research ethics at each stage of the research. Argue the relevance of each prin

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate the book value of three-year-old machine

Calculate the book value of a three-year-old machine that cost $225,000, has an estimated residual value of $15,000, and has an estimated useful life of 15,000 machine hours. The company uses units-of-production depreciation and ran the machine 3,000..

  Find the value of the options that lapse after vesting shall

When should the compensation expense be recorded as a result of share options granted by the enterprise to its employees? Find the value of the options.

  Calculate all materials and labor variances in a spreadsheet

Calculate all materials and labor variances in a spreadsheet by using a program like Excel. Be sure to include price, wage rate, and labor efficiency variances.

  Compute trend percents for the accounts

Compute trend percents for the following accounts, using 2011 as the base year (round the percents to whole numbers). State whether the situation as revealed by the trends appears to be favorable or unfavorable for each account.

  Prepare partial statement of financial position

Frisco Enterprises entered into a lease agreement with Ebby Real Estate Properties Characteristics of the Lease is listed below: a. Date of lease agreement is January 1, 2015 b. Utilize excel then type your answer Prepare a partial Statement of Finan..

  Calculate the total amount of cash paid by the customer

Calculate the total amount of cash paid by the customer to THE Company. THE Company sold goods to a customer on account for $600.

  Calculate the revenues for riley co. for apri

During the month of April, Riley Co. had cash receipts from customers of $680,000. Expenses totaled $624,000, and accrual basis net income was $168,000. There were no gains or losses during the month.

  How much is the ending inventory per branch books

Batangas (HO) company, How Much Is The Deferred Profit Account In Books Of Home Office? How Much Is The Ending Inventory Per Branch Books?

  What is the beta for microsoft corporation

What is the beta for Microsoft Corporation? What is the correlation between BBY and COST? What is the standard deviation for Costo Wholesale Corporation (COST)?

  What education tax credits are available

What education tax credits are available if Walt and Deloris report modified AGI of $123,700 and Tiffany is taking one class a semester

  How much revenue should pharoah recognize during may

Pharoah Company purchased 20 calculators for $20 each, one-half on May 14, How much revenue should Pharoah recognize during May?

  Prepare the manual tax return utilizing

Roberta Santos, age 41, is single and lives at 120 Sanborne Avenue, Springfield, IL 60781. Her Social Security number is 123-45-6789. Roberta has been divorced from her former husband, Wayne, for three years. Calculate Roberta’s net tax payable or re..

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