Entries by mary WAMBUGU

Examine the following items and prepare the current liabilities section of the Balance sheet for Annapolis Corporation as of December 31, 2015

August 29, 2019 in /by

Examine the following items and prepare the current liabilities section of the Balance sheet for Annapolis Corporation as of December 31, 2015 The beginning of year accounts payable was $82,000.  Purchases on trade accounts during the year were $452,000, and payments on account were $415,000.   The company incurs substantial costs in its manufacturing plant.  […]

 

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Prepare the journal entries for the eight following transactions. Use dates but descriptions are not required. On 10/1/15, Equipment was purchased for $10,000 cash down payment and a 10% per annum promissory note of $40,000.

August 29, 2019 in /by

Prepare the journal entries for the eight following transactions.  Use dates but descriptions are not required. On 10/1/15, Equipment was purchased for $10,000 cash down payment and a 10% per annum promissory note of $40,000. On  12/31/15, the fiscal year ended and the accrued interest was recorded as an adjusting entry. On June 30, 2016 […]

 

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Generally Accepted Accounting Principles (GAAP) allow companies to issue financial statements, using either the cash basis or the accrual basis of accounting, depending on their needs.

August 29, 2019 in /by

There are a total of 25 questions, each worth 4 points. The computer will automatically grade the true/false and multiple-choice questions, but grading will not be complete until your instructor manually grades the short-answer questions. Your instructor may grant partial credit on short-answer questions for less-than-complete answers. You can take the quiz only once. You […]

 

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Mike works for Baltimore Corp. Fact’s related to Mike’s paycheck are listed below. He is paid $5,000 once per month on the last day of the month. He has already been paid for January. You are computing February payroll.

August 29, 2019 in /by

Payroll problem.  The facts and instructions are listed below: 1 Mike works for Baltimore Corp.  Fact’s related to Mike’s paycheck are listed below. He is paid $5,000 once per month on the last day of the month.  He has already been paid for January.  You are computing February payroll. 2 Mike’s pay is subject to […]

 

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