Entries by mary WAMBUGU

For each of the items below, indicate whether the lease is an operating lease or a capital lease. Reminder: The lessor is the party who owns the item; the lessee is the party using the item. Item 1 The lessee reports the leased asset on its balance sheet.

August 29, 2019 in /by

For each of the items below, indicate whether the lease is an operating lease or a capital lease. Reminder: The lessor is the party who owns the item; the lessee is the party using the item. Item 1 The lessee reports the leased asset on its balance sheet. Item 2 Payments are reported fully as […]

 

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The Dorchester Company invested $100,000 of face amount of 4-year bonds. The bonds were purchased at 98 and bear interest at a stated rate of 8% per annum, payable semiannually.

August 29, 2019 in /by

The Dorchester Company invested $100,000 of face amount of 4-year bonds. The bonds were purchased at 98 and bear interest at a stated rate of 8% per annum, payable semiannually. (a) Prepare the journal entry to record the initial investment. (b) Prepare the journal entry that Dorchester would record on each interest date. (c) Prepare […]

 

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Floppy is a small company and records adjusting entries & closing entries only at fiscal (calendar) year end. Correcting and adjusting entries have not been recorded. Additional Information :

August 29, 2019 in /by

Question Floppy is a small company and records adjusting entries & closing entries only at fiscal (calendar) year end. Correcting and adjusting entries have not been recorded. Additional Information : a. Notes Receivables is a 3 months, 6% note accepted on November 1, 2014. b. Long term notes payable is a 5-year , 5% note, […]

 

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After the bank reconciliation is prepared, the entry to record bank service charges would have a credit to _______________. Question 8 options: Bank Service Charge Expense

August 29, 2019 in /by

University of Maryland University College Final Examination Acct220: Principles of Accounting I For this exam, omit all general journal entry explanations. Ensure to include correct dollar signs, commas, underlines & double underlines where required. Question 1: 40% points: Floppy Company’s December 31, 2014 trial balance is as follows: Floppy Corporation Trial Balance December 31, 2014 […]

 

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