Exercise 9.3 Adjusting Entry Accrued Expenses K Rock Castle Construction BACKSTORY Interest incurred but not yet paid by Rock Castle Construction as of December 31, 2024, was $3,000 in total. Use Entry No. ADJ2024.4. Use the following accounts to make the adjustng entry. Add new accounts as needed. 20300 Interest Payable 62420 Loan Interest (Expense) E9.3.1 QuickBooks File If you will be using the same computer and the same QBW file: 1. Select your QBW file. 2. Update the company name to YourName Exercise 9.3 Rock Castle Construction by selecting Company Menu > My Company. If you are not using the same computer that you used for Chapter 9 and Exercises 9.1 - 9.2, you will need to restore your latest prior Backup.QBB file using the instructions in Appendix B: Back Up and Restore QuickBooks files. After restoring, update the company name to YourName Exercise 9.3 Rock Castle Construction. E9.3.2 Accrued Expense Adjustment Complete the following table. Account Account Increase or Debit or Credit? Amount Турe Decrease? Interest Expense Expense 2. 1. 3. $. Interest Payable Liability 4. 5. 6. $.

Exercise 9.3 Adjusting Entry Accrued Expenses K Rock Castle Construction BACKSTORY Interest incurred but not yet paid by Rock Castle Construction as of December 31, 2024, was $3,000 in total. Use Entry No. ADJ2024.4. Use the following accounts to make the adjustng entry. Add new accounts as needed. 20300 Interest Payable 62420 Loan Interest (Expense) E9.3.1 QuickBooks File If you will be using the same computer and the same QBW file: 1. Select your QBW file. 2. Update the company name to YourName Exercise 9.3 Rock Castle Construction by selecting Company Menu > My Company. If you are not using the same computer that you used for Chapter 9 and Exercises 9.1 - 9.2, you will need to restore your latest prior Backup.QBB file using the instructions in Appendix B: Back Up and Restore QuickBooks files. After restoring, update the company name to YourName Exercise 9.3 Rock Castle Construction. E9.3.2 Accrued Expense Adjustment Complete the following table. Account Account Increase or Debit or Credit? Amount Турe Decrease? Interest Expense Expense 2. 1. 3. $. Interest Payable Liability 4. 5. 6. $.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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M Inbox - 2193565@slu.edu.ph - Sa x A Midterms Part 2 E 131 MIDTERMS PART 2 b My Questions | bartleby A docs.google.com/forms/d/e/1FAlpQLSe94FpCNY14R-JRUFCTTJ60E-Bht7bh1TeDti6nFO0x17GoQg/viewform?hr_submission=Chkl7fXk2cgBEhAlts6E7q4GEgcllbP3ntoDEAE On January 1, 20x1, Pete Electrical Shop received from Marion Trading 300 pieces of bread toasters. Pete was to sell these on consignment at 50% above original cost, for a 15% commission on the selling price. After selling 200 pieces, Pete had the remaining unsold units repaired for some electrical defects for which he spent P2,000. Marion subsequently increased the selling price of the remaining units to P330 per unit. On January 31, 20x1, Pete remitted P64,980 to Marion after deducting the 15% commission, P850 for delivery expenses of sold units, and P2,000 for the repair of 100 units. The consigned goods cost Marion Trading P200 per unit, and P900 had been paid to ship them to Pete Electrical Shop. All expenses in connection with the…
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ile Edit View History Favorites Tools Profiles Tab Window Help rse Exami 9 nts https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation. eBook Mc Graw Hill Exercise 2-8 (Algo) Preparing journal entries LO A1 Following are the transactions of Sustain Company. June 1 T. James, owner, invested $11,50 cash in Sustain Company in exchange for common stock. June 2 The company purchased $4,500 of furniture made from reclaimed wood on credit. ✪ June 3 The company paid $700 cash for a 12-month prepaid insurance policy on the reclaimed furniture. June 4 The company billed a customer $3,500 for sustainability services provided. June 12 The company paid $4,500 cash toward the payable from the June 2 furniture purchase. June 20 The company collected $3,500 cash for services billed on June 4. June 21 T. James invested an additional $10,500 cash in Sustain Company in exchange for common stock. June 30 The company received $5,500…
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AutoSave Acct12_Ch09_WP_templates - Compatibility Mode Search invoker robinson File Home Design References Mailings Review View Help A Share P Comments Insert Layout E9-24 Journalize all required entries. Make sure to determine the missing maturity date. Solution: Date Accounts and Explanation Debit Credit D Focus Page 16 of 17 12 of 876 words 100% 8:10 PM O Type here to search a W 10/22/2020 O
NOWV2 | Online teachin x + EAssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator%=&inprogress=false eBook Show Me How July 31 Not 1-30 31-60 61-90 Over 90 Past Days Days Days Days Customer Balance Due Past Due Past Due Past Due Past Due Subtotals 1,050,000 600,000 220,000 115,000 ৪5,000 30,000 Boyd Industries 36,000 36,000 Hodges Company 11,500 11,500 Kent Creek Inc. 6,600 6,600 Lockwood Company 7,400 7,400 Van Epps Company 13,000 13,000 Totals 1,124,500 607,400 233,000 121,600 96,500 66,000 Percentage uncollectible 1% 3% 12% 30% 75% Allowance for Doubtful Accounts 106,106 6,074 6,990 14,592 28,950 49,500 Assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $8,240 before adjustment on July 31. Journalize the adjusting entry for uncollectible accounts as of July 31. If an amount box does not requre an entry, leave it blank. 88 July 31 Next Check My Work Email Instructor Save and Exit Submit Assignment for Gradin
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O Mail - Edjouline X E Content - ACG2 X * CengageNOW. X O (58) YouTube * from Towards a X m/ilm/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inpro. Q < ☆ STIOW Me TOW Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $410,000; Allowance for Doubtful Accounts has a credit balance of $3,500; and sales for the year total $1,850,000. Bad debt expense is estimated at 3/4 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Adjusted Balance Debit (Credit) Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable. Check My Work Previous Next V O 11:51