Entries by Munene david

The following information is available for Brashham Cards Company

May 5, 2020 in /by

The following information is available for Brashham Cards Company. Beginning accounts receivable $70,000 Ending accounts receivable 110,000 Net sales 990,000 Compute the following to one decimal place each: 1. accounts receivable turnover 2. accounts receivable days outstanding.   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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Freemen Frank’s Company uses the allowance method for estimating

May 5, 2020 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 for […]

 

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On March 1, 2021, Landon Company acquired real estate

May 5, 2020 in /by

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 for […]

 

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Karley Company sold equipment on July 1, 2021 for $75,000

May 5, 2020 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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