Homework Answers
| Debit Analysis | Credit Analysis | ||||
| 1 | Increased the Asset | Cash | Increase the liability | Notes Payable | |
| 2 | Increased the Asset | Equipment | Decrease the Asset | Cash | |
| 3 | Increased the Asset | Supplies | Increase the liability | Accounts Payable | |
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ICRN 3 Exercise 2-06 a-b (Part Level Submission) Swifty Inoustries had the folowing transactions Borowed $7,000...
Exercise 8-11 a-b (Part Level Submission) (Video) The following information pertains to Swifty Video Company 1....
Exercise 8-11 a-b (Part Level Submission) (Video) The following information pertains to Swifty Video Company 1. Cash balance per bank, July 31, $8,003. 2. July bank service charge not recorded by the depositor $36. 3. Cash balance per books, July 31, $8,024. 4. Deposits in transit, July 31, $1,870. 5. Bank collected $1,270 note for Swifty in July, plus interest $44. less fee $28. The collection has not been recorded by Swifty, and no interest has been accrued. 6. Outstanding...
Exercise 3-7 a-e (Part Level Submission) Selected transactions for the Blossom Corporation during its first month...
Exercise 3-7 a-e (Part Level Submission) Selected transactions for the Blossom Corporation during its first month of operations are presented below: Sept. 1 Issued common shares for $18,500 cash. 2 Performed $8,200 of services on account for a customer. 4 Purchased equipment for $11,200, paying $5,400 in cash and borrowing the balance from the bank. 10 Purchased $460 of supplies on account. 25 Received $4,900 cash in advance for architectural services to be provided next month. 30 Paid $276 on...
Exercise 3-7 a-e (Part Level Submission) Selected transactions for the Blossom Corporation during its first month...
Exercise 3-7 a-e (Part Level Submission) Selected transactions for the Blossom Corporation during its first month of operations are presented below: Sept. 1 Issued common shares for $18,500 cash. 2 Performed $8,200 of services on account for a customer. 4 Purchased equipment for $11,200, paying $5,400 in cash and borrowing the balance from the bank. 10 Purchased $460 of supplies on account. 25 Received $4,900 cash in advance for architectural services to be provided next month. 30 Paid $276 on...
Brief Exercise 8-4 (Part Level Submission) Swifty Company uses a periodic inventory system. For April, when...
Brief Exercise 8-4 (Part Level Submission) Swifty Company uses a periodic inventory system. For April, when the company sold 570 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 250 $28 $7,000 April 15 purchase 350 34 11,900 April 23 purchase 400 36 14,400 1,000 $33,300 (a) Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average cost per unit
System Announcements Exercise 10-08 a-b (Part Level Submission) (Video) Terry Wade, the new controller of Swifty...
System Announcements Exercise 10-08 a-b (Part Level Submission) (Video) Terry Wade, the new controller of Swifty Company, has reviewed the expected useful lives and salvage va Useful life in Years Accumulated Depreciation Date Salvage Value Type of Asset Acquired Cost 1/1/20 Old Proposed Old Proposed Building 1/1/14 $830,000 $118,350 40 $41,000 50 $64,850 Warehouse 1/1/15 102,000 19,240 25 20 5,800 12,260 All assets are depreciated by the straight-line method. Swifty Company uses a calendar year in preparing annua (a) Compute...
CALCULATOS STANDARD VIEW PRINTER VERSION BACK NEX Exercise 2-06a-b Sunland Industries had the following transactions. 1....
CALCULATOS STANDARD VIEW PRINTER VERSION BACK NEX Exercise 2-06a-b Sunland Industries had the following transactions. 1. Borrowed $5,900 from the bank by signing a note 2. Pald $3,658 cash for a computer. 3. Purchased $1,003 of supplies on account. Indicate what accounts are increased and decreased by each transaction Debit Analysis 1. Increase the ability Credit Analysis Notes Payable 2 3. Journalize each transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...
System Announcements Exercise 10-08 a-b (Part Level Submission) (Video) Terry Wade, the new controller of Swifty...
System Announcements Exercise 10-08 a-b (Part Level Submission) (Video) Terry Wade, the new controller of Swifty Company, has reviewed the expected useful lives and salvage va Useful life in Years Accumulated Depreciation Date Salvage Value Type of Asset Acquired Cost 1/1/20 Old Proposed Old Proposed Building 1/1/14 $830,000 $118,350 $41,000 40 50 $64,850 Warehouse 1/1/15 102,000 19,240 25 20 5,800 12,260 All assets are depreciated by the straight-line method. Swifty Company uses a calendar year in preparing annua (a) Compute...
Exercise 2-6 Your answer is partially correct. Try again. Concord Corporation had the following transactions. 1....
Exercise 2-6 Your answer is partially correct. Try again. Concord Corporation had the following transactions. 1. Borrowed $6,535 from the bank by signing a note. 2. Paid $3,268 cash for a computer 3. Purchased $588 of supplies on account. (a) Indicate what accounts are increased and decreased by each transaction. Debit Analysis Credit Analysis 1. Increase the Asset Increase Increase the Liability Increase 2. no effect no effect 3. Increase the Asset Increase increase the Liability Increase (b) Journalize each...
Problem 3-2A a-b (Part Level Submission) On July 31, 2018, the general ledger of Pharoah Inc....
Problem 3-2A a-b (Part Level Submission) On July 31, 2018, the general ledger of Pharoah Inc. showed these balances: Cash $3,990; Accounts Receivable $1,500; Supplies $530; Equipment $4,980; Accounts Payable $4,100; Common Shares $3,500; and Ret Earnings $3,400. During August, the following transactions occurred: Aug. 2 Collected $1,190 of accounts receivable due from customers. 3 Received $1,330 for issuing common shares to new investors. 6 Paid $2,670 on accounts payable owing. 7 Earned fees of $6,500, of which $2,970 was...
Bridgeport Corp. had the following transactions. 1. 2. Question 4 Bridgeport Corp. had the following transactions....
Bridgeport Corp. had the following transactions.
1. 2. Question 4 Bridgeport Corp. had the following transactions. Borrowed pyg64,130 from the bank by signing a note. Paid pyg32,065 cash for a computer. 3. Purchased pyg5,772 of supplies on account. (a) Indicate what accounts are increased and decreased by each transaction. Debit Analysis Credit Analysis 1. 2. 3. (b) Journalize each transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select...
Exercise 8-11 a-b (Part Level Submission) (Video) The following information pertains to Swifty Video Company 1. Cash balance per bank, July 31, $8,003. 2. July bank service charge not recorded by the depositor $36. 3. Cash balance per books, July 31, $8,024. 4. Deposits in transit, July 31, $1,870. 5. Bank collected $1,270 note for Swifty in July, plus interest $44. less fee $28. The collection has not been recorded by Swifty, and no interest has been accrued. 6. Outstanding...
Exercise 3-7 a-e (Part Level Submission) Selected transactions for the Blossom Corporation during its first month of operations are presented below: Sept. 1 Issued common shares for $18,500 cash. 2 Performed $8,200 of services on account for a customer. 4 Purchased equipment for $11,200, paying $5,400 in cash and borrowing the balance from the bank. 10 Purchased $460 of supplies on account. 25 Received $4,900 cash in advance for architectural services to be provided next month. 30 Paid $276 on...
Exercise 3-7 a-e (Part Level Submission) Selected transactions for the Blossom Corporation during its first month of operations are presented below: Sept. 1 Issued common shares for $18,500 cash. 2 Performed $8,200 of services on account for a customer. 4 Purchased equipment for $11,200, paying $5,400 in cash and borrowing the balance from the bank. 10 Purchased $460 of supplies on account. 25 Received $4,900 cash in advance for architectural services to be provided next month. 30 Paid $276 on...
Brief Exercise 8-4 (Part Level Submission) Swifty Company uses a periodic inventory system. For April, when the company sold 570 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 250 $28 $7,000 April 15 purchase 350 34 11,900 April 23 purchase 400 36 14,400 1,000 $33,300 (a) Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average cost per unit
System Announcements Exercise 10-08 a-b (Part Level Submission) (Video) Terry Wade, the new controller of Swifty Company, has reviewed the expected useful lives and salvage va Useful life in Years Accumulated Depreciation Date Salvage Value Type of Asset Acquired Cost 1/1/20 Old Proposed Old Proposed Building 1/1/14 $830,000 $118,350 40 $41,000 50 $64,850 Warehouse 1/1/15 102,000 19,240 25 20 5,800 12,260 All assets are depreciated by the straight-line method. Swifty Company uses a calendar year in preparing annua (a) Compute...
CALCULATOS STANDARD VIEW PRINTER VERSION BACK NEX Exercise 2-06a-b Sunland Industries had the following transactions. 1. Borrowed $5,900 from the bank by signing a note 2. Pald $3,658 cash for a computer. 3. Purchased $1,003 of supplies on account. Indicate what accounts are increased and decreased by each transaction Debit Analysis 1. Increase the ability Credit Analysis Notes Payable 2 3. Journalize each transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...
System Announcements Exercise 10-08 a-b (Part Level Submission) (Video) Terry Wade, the new controller of Swifty Company, has reviewed the expected useful lives and salvage va Useful life in Years Accumulated Depreciation Date Salvage Value Type of Asset Acquired Cost 1/1/20 Old Proposed Old Proposed Building 1/1/14 $830,000 $118,350 $41,000 40 50 $64,850 Warehouse 1/1/15 102,000 19,240 25 20 5,800 12,260 All assets are depreciated by the straight-line method. Swifty Company uses a calendar year in preparing annua (a) Compute...
Exercise 2-6 Your answer is partially correct. Try again. Concord Corporation had the following transactions. 1. Borrowed $6,535 from the bank by signing a note. 2. Paid $3,268 cash for a computer 3. Purchased $588 of supplies on account. (a) Indicate what accounts are increased and decreased by each transaction. Debit Analysis Credit Analysis 1. Increase the Asset Increase Increase the Liability Increase 2. no effect no effect 3. Increase the Asset Increase increase the Liability Increase (b) Journalize each...
Problem 3-2A a-b (Part Level Submission) On July 31, 2018, the general ledger of Pharoah Inc. showed these balances: Cash $3,990; Accounts Receivable $1,500; Supplies $530; Equipment $4,980; Accounts Payable $4,100; Common Shares $3,500; and Ret Earnings $3,400. During August, the following transactions occurred: Aug. 2 Collected $1,190 of accounts receivable due from customers. 3 Received $1,330 for issuing common shares to new investors. 6 Paid $2,670 on accounts payable owing. 7 Earned fees of $6,500, of which $2,970 was...
Bridgeport Corp. had the following transactions.
1. 2. Question 4 Bridgeport Corp. had the following transactions. Borrowed pyg64,130 from the bank by signing a note. Paid pyg32,065 cash for a computer. 3. Purchased pyg5,772 of supplies on account. (a) Indicate what accounts are increased and decreased by each transaction. Debit Analysis Credit Analysis 1. 2. 3. (b) Journalize each transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select...
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