User Account

All Pages

Record the transactions in the general journal

Assignment Help Accounting Basics
Reference no: EM131793521

Problem - These transactions took place for Ralston Co.

2009 -

May 1 Received a $12,300, 1-year, 9% note in exchange for an outstanding account receivable from S. Dolan.

Dec. 31 Accrued interest revenue on the S. Dolan note.

2010 -

May 1 Received principal plus interest on the S. Dolan note. (No interest has been accrued since December 31, 2009.)

Record the transactions in the general journal. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)

Reference no: EM131793521

Questions Cloud

Prepare the journal entries to record the payment : On March 4, 2010, Tatum Co. receives payment of $3,642 in full from Novinger Inc. Prepare the journal entries to record the payment
The lity in product design cycle : Which is not one of the 'LITY' in product design cycle ?
Design an online application - name of muscat auction : CE00880 - design an online application, with the name of "Muscat Auction", that is aimed at taking the action to the finger tips of aspiring bidders
Purpose and significance of good marketing plan : Explain briefly the market plan structure and the purpose and significance of a good marketing plan? What are some of the disadvantages of being public company?
Record the transactions in the general journal : May 1 Received a $12,300, 1-year, 9% note in exchange for an outstanding account receivable from S. Dolan. Record the transactions in the general journal
What is the relationship between value and risk : Describe an action that may look impressive but does not create value? What is the relationship between value and risk?
The psychological impact of the re-emerging trend : Merely copying the article's abstract and submitting it as an annotation is prohibited, and will result in a zero score.
Discuss direct write off method to account for bad debts : the company received word that the comeau company, a current customer, would not be able to pay
Prepare the journal entries on december : On May 11, 2010, Brite Star Co. determined that J. Reno's account was uncollectible and wrote off $1,080. Prepare the journal entries on December 31, 2009

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is brazels ending wip balance

What is Brazel's endingWIP balance?

  Calculate cash flows out of eden inc is planning to invest

calculate cash flows out of eden inc. is planning to invest in new manufacturing equipment to make a new garden tool.

  Calculate the net present value

Northern Star Company sets a hurdle rate of 14% per annum for evaluating investment proposals. Calculate Net Present Value (NPV) for the 3 investment proposals

  Accounts receivable and crediting interest revenue

When an interest-bearing note comes due and is uncollectible, the journal entry includes debiting.

  What are the expected collections for july

Sales are 40% cashand 60% credit. All credit sales are collected in the monthfollowing the sale. What are the expected collections for July?

  Determine the revaluation of fixed assets

Assuming no revaluation of fixed assets has occurred, which one of the following is the correct conclusion to draw from this trend?

  Prepare the journal entry to record the issuance of bonds

On June 1, 2017, Weller Corp. issued $3,000,000, 9%, 5-year bonds at face value. Prepare the journal entry to record the issuance of the bonds

  Review the annual financial reports of slater and gordon

Review the annual financial reports of Slater and Gordon for the reporting years 2013, 2014 and 2015. Analyze how revenue was recognized in each of the reporting years, and explain why the firm's reported revenue dropped significantly in 2015

  List the current members on the board of governors

Go to the Federal Reserve website: or any other related website, and find the following information: List the current members on the Board of Governors of the Federal Reserve System.

  When an order is received by a restaurants computer it is

the following is a description of ordering food through find your food.the customer uses their computer to go to the

  If the materials handling cost is allocated on the basis of

a company allocates materials handling cost to the companys two products using the below datamodular homes prefab

  Which is accounted for as a change in accounting principle

Which of the following is accounted for as a change in accounting principle?

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