User Account

All Pages

Record general journal entries for aspetar enterprises

Assignment Help Accounting Basics
Reference no: EM132514993

Question - Aspetar Enterprises converted an overdue account of $40,000 from Aspire Company on June 1, 2021, into a one year note receivable at 8% interest.

Required - Record these general journal entries for Aspetar Enterprises:

(1) The conversion of the overdue account from Aspire Company.

(2) The adjusting entry at December 31, 2021.

(3) The maturity and collection of the note on June 1, Year 2022.

Reference no: EM132514993

Questions Cloud

Probability that a value lies between 460 and 600 : You have a population that has a mean of 480 and a standard deviation of 20. Report in 4 decimal places.
Do the selling and administrative expenses budget : It expects fixed expenses to be $39,700 in each quarter. Do the selling and administrative expenses budget by quarters for 2020
Estimate the average starting salary of the male mba : Estimate the average starting salary of the male MBA graduates
What is the dollar amount of each type of candle : If the company's fixed costs are $406,500 per year, what is the dollar amount of each type of candle that must be sold to break even?
Record general journal entries for aspetar enterprises : Aspetar Enterprises converted an overdue account of $40,000 from Aspire Company on June 1, 2021, Record these general journal entries for Aspetar Enterprises
How do prepare journal entries to record item : How do prepare journal entries to record item? Dillon Products manufactures various machined parts to customer specifications.
Research essay on development communication : Discuss the roles, approaches, forms, tools and techniques of Development Communication in the field of Agriculture, in different parts of the world over
What are advantages of corporate form of organization : Most large companies are organized as corporations. What are advantages and disadvantages of the corporate form of organization
What amount of sales must make : If the company wants to earn a target $60,000 pretax income, what amount of sales must it make (rounded to the nearest whole dollar)?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Decrease the level of personnel and equipment

Considering this probability, would it seem advisable for Howard to increase or to decrease the level of personnel and equipment he devotes to handling such calls?

  Discuss what is the amount of josh''s gain on the sale

The buyer also assumed Josh's $25,000 loan on the equipment. Josh paid $5,000 in selling expenses. What is the amount of Josh's gain on the sale

  Prepare nine journal enteries from which postings were made

Wyoming Tours Co. is a travel agency. The nine transactions recorded by Wyoming Tours during June 2016, its first month of operations.

  Calculate the annual break even point in unit sales

Mrs Mac sells burgers and is considering whether to open a second outlet. Calculate the annual break even point in unit sales

  Why are noncash transactions such as the exchange of

why are noncash transactions such as the exchange of common stock for a building included on a statement of cash flows?

  Compute the break-even quantity of each product

Compute the break-even quantity of each product, What is the unit variable cost, What is the unit variable manufacturing cost

  Discuss profit or loss and other comprehensive income

EBS Statement of profit or loss and other comprehensive income for the year ended

  After the adjusting entries are posted prepare a trial

as a recently hired accountant for a small business bearing inc. you are provided with last years balance sheet income

  Denton company has a large portion of its plant assets

denton company has a large portion of its plant assets concentrated in an area where technology is changing rapidly.

  Find the dollar value of the interest expense

Use the information to Find and determine the dollar value of the interest expense for the 2018 fiscal year. Round your answer to the nearest whole dollar.

  Benson co is considering disposing of a machine with a

benson co. is considering disposing of a machine with a bookvalue of 125000 and estimated remaining life of five years.

  How important productivity ratio is to operation

Mary's customer has just went off track in their discussion, How important productivity ratio is to operation? How Mary has just effectively used

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