Entries by mary WAMBUGU

Freemen Frank’s Company uses the allowance method for estimating uncollectible accounts. /> January 5 Sold merchandise to Mark Ham for $1,700, terms n/15.

August 30, 2019 in /by

Freemen Frank’s Company uses the allowance method for estimating uncollectible accounts.  /> January 5 Sold merchandise to Mark Ham for $1,700, terms n/15. April 15 Received $500 from Mark Ham on account. August 21 Wrote off as uncollectible the balance of the Mark Ham account when he declared bankruptcy. October 5 Unexpectedly received a check […]

 

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On March 1, 2021, Landon Company acquired real estate on which it planned to construct a small office building. The company paid $90,000 in cash.

August 30, 2019 in /by

Question On March 1, 2021, Landon Company acquired real estate on which it planned to construct a small office building. The company paid $90,000 in cash. An old warehouse on the property was razed at a cost of $8,300; the salvaged materials were sold for $1,300. Additional expenditures before construction began included $1,500 attorney’s fee […]

 

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Karley Company sold equipment on July 1, 2021 for $75,000. The equipment had cost $210,000 and had $120,000 of accumulated depreciation as of January 1, 2021

August 30, 2019 in /by

Karley Company sold equipment on July 1, 2021 for $75,000. The equipment had cost $210,000 and had $120,000 of accumulated depreciation as of January 1, 2021. Depreciation for the first 6 months of 2021 was $12,000. Prepare the journal entry to record the sale of the equipment.   Looking for a Similar Assignment? Order now […]

 

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.The journal entry to record the payroll for Fox-Gardiner Company for the week ending January 8, would probably include a32 A) Credit to FICA taxes payable

August 30, 2019 in /by

32.The journal entry to record the payroll for Fox-Gardiner Company for the week ending January 8, would probably include a32 A) Credit to FICA taxes payable B) credit to salaries expense C) debit to Federal Income Taxes Payable D) Credit to wages expense 33.Based on the following information, computer the (1) current ratio and (2) […]

 

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