User Account

All Pages

Prepare journal entries for the selected transactions

Assignment Help Accounting Basics
Reference no: EM131640371

Question - The following are selected 2017 transactions of Blue Corporation.

Sept. 1 Purchased inventory from Encino Company on account for $58,800. Blue records purchases gross and uses a periodic inventory system.

Oct. 1 Issued a $58,800, 12-month, 8% note to Encino in payment of account.

Oct. 1 Borrowed $58,800 from the Shore Bank by signing a 12-month, zero-interest-bearing $61,760 note.

Prepare journal entries for the selected transactions above.

Prepare adjusting entries at December 31.

Reference no: EM131640371

Questions Cloud

Managing the communication and information sharing : Identify all of the information you would need to effectively manage the three goals above - issues related to implementing the three goals above.
What issues do you see that will impact the given practice : What makes this practice unique? What issues do you see that will impact this practice? Are they easily fixed, or will the issues cause the practice to fail?
Equal annual end of year instalments : Polycorp is considering an investment in new plant of $3.25 million.
Discuss benefit the patient in scenario : Describe which communication style the RN should use to benefit the patient in this scenario
Prepare journal entries for the selected transactions : Oct. 1 Issued a $58,800, 12-month, 8% note to Encino in payment of account. Prepare journal entries for the selected transactions above
Discuss due process as it relates to inmate discipline : Discuss due process as it relates to inmate discipline. What steps are required for prisoner due process when an inmate is faced with a disciplinary action?
Quoted rates against the usd : The following are the quoted rates against the USD:
How do public prisons compare to private prisons : How do public prisons compare to private prisons? What are key issues to consider when deciding to use a private prison?
Are you confident that the proportion is higher in evening : When shall we call you? As you might guess, telephone sample surveys get better response rates during the evening than during the weekday daytime.

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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