Entries by mary WAMBUGU

Arundel Company uses aging to estimate uncollectibles. At the end of the fiscal year, December 31, 2018, Accounts Receivable has a balance that consists of: Dollar Value

August 30, 2019 in /by

Arundel Company uses aging to estimate uncollectibles.  At the end of the fiscal year, December 31, 2018, Accounts Receivable has a balance that consists of: Dollar Value Age of Account Estimated Collectible $220,000 < 30 days old 99.5% 70,000 30 to 60 days old 92.0% 20,000 61 to 120 days old 78.0% 13,000 > 120 days old 19.0% […]

 

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The following is the Easton Company’s adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2018

August 30, 2019 in /by

The following is the Easton Company’s adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665  Accounts Receivable 232,000  Supplies 17,000  Equipment 395,000  Accumulated Depreciation $224,260  Accounts Payable 72,555  Capital Stock 220,000  Retained Earnings 127,145  Service Revenue 877,105  Interest Income 5,500  Dividends 7,000  Rent Expense 59,900  Wages Expense 529,000  […]

 

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On June 1, 2019 Adelphi Corporation issued $210,000 of 6%, 5-year bonds. The bonds which were issued at 99, pay interest on January 1 and June 1.

August 30, 2019 in /by

1.) On June 1, 2019 Adelphi Corporation issued $210,000 of 6%, 5-year bonds.  The bonds which were issued at 99, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. If this is discount amortization enter as a positive number. If this is […]

 

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On March 1, 2019, Baltimore Corporation had 60,000 shares of common stock outstanding with a par value of $5 per share.

August 30, 2019 in /by

1.) On March 1, 2019, Baltimore Corporation had 60,000 shares of common stock outstanding with a par value of $5 per share. On March 1, Baltimore Corporation authorized a 10% stock dividend when the market value was $14 per share. Use this information to calculate the amount either (debited) or credited to retained earnings.  Enter as a negative […]

 

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