The following data relate to notes receivable and interest for Vidovich Co., a financial services company. {Instructions}
Question:
The following data relate to notes receivable and interest for Vidovich Co., a financial services company.
{Instructions}
Journalize the entries to record the transactions.
Transcribed Image Text:
Mar. 6. Received an $18,000, 9%, 60-day note on account. 25. Received a $10,000, 8%, 90-day note on account. May 5. Received $18,270 on note of March 6. 16. Received a $40,000, 7%, 90-day note on account. 31. Received a $12,000, 8%, 30-day note on account. June 23, Received $10,200 on note of March 25. 30. Received $12,080 on note of May 31. 1. July 1. Received a $5,000, 12%, 30-day note on account. 31. Received $5,050 on note of July Aug. 14. Received $40,700 on note of May 16.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (2 reviews)
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 9780324380675
10th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Question Posted:
Students also viewed these Business questions
-
3. Purchased a bond for $2000. Received interest of $200. Sold the bond for $3000. Journalize the transactions
-
The following data relate to notes receivable and interest for Vidovich Co., a financial services company. (All notes are dated as of the day they are received.) Mar. 1 Received a $13,000, 9%, 60-day...
-
The following data relate to notes receivable and interest for Vidovich Co., a financial services company. (All notes are dated as of the day they are received.) Mar. 6. Received an $18,000, 9%,...
-
/* FILE: FLIX2YOU_data-load.txt */ /* Script to populate tables for FLIX2YOU .. current schema before revision */ /* Written by Gary Heberling on July 2, 2012 */ /* For IST210 world campus Penn State...
-
What are the differences among multidomestic, global, and international companies?
-
What steps can organizations take to improve team processes?
-
Advise Dell management as to whether they should be so concerned about their recent downturn in sales. LO.1
-
Mary Palmquist, a Wall Street securities analyst, wants to determine the relationship between Chile's gross domestic product (GDP) and the profits (after taxes) of the Carlton Company. She obtains...
-
Question 2 (CLO 3) - Estimated time 30 minutes The following represents the Final Accounts and Balance Sheet of Mark's Parts Ltd, for the financial year ending December 31, 2020: Trading & Profit &...
-
The following were selected from among the transactions completed during the current year by Hackworth Co., an appliance wholesale company: {Instructions} Journalize the transactions. Jan. 12. Sold...
-
Looks Good Wigs Company supplies wigs and hair care products to beauty salons throughout California and the Pacific Northwest. The accounts receivable clerk for Looks Good prepared the following...
-
Journalise the following issues: (a). A company issued 1000, 6% debentures of 100 Each at par. (b). A company issued 1000, 6% debentures of 100 Each at 10% premium (c). A company issued 1000, 6%...
-
7. Chicago Corp. obtained the following information from the Raw Materials Inventory account and purchasing records for the first quarter of the current year: Beginning Raw Materials Ending Raw...
-
Suppose that i t =6% (n=1), and that future short term interest rates (n=1) for the next 3 years (starting next year) are expected to be: 4%, 2%, 2%. Suppose that the liquidity premium is zero for...
-
Mechanical Vibrations HW Use the modal analysis and numerical integration to compute and plot the time response of the system, which has the equations of motion [8 0 01 (1) 48 -12 01(x1 0 0 8 02-12...
-
Submit excel file with graph and exchange rate analysis. FOREIGN EXCHANGE RATESTHE YEN FOR DOLLARS. The Federal Reserve System Web site, www.federalreserve.gov/releases/H10/hist , provides historical...
-
Part 1: There are many types of communication styles used in the workplace. Choose what you think is your leadership style: north, south, east, or west. Click The Leadership Compass Self-Assessment...
-
How is an application layer firewall different from a packet-filtering firewall? Why is an application layer firewall sometimes called a proxy server?
-
QUESTION 2 The CEO of Farisha Hijab Sdn Bhd insisted on further investigation to be carried out that he also required Mr Muaz to conduct the analysis of variance for the material and labour of the...
-
Prepare journal entries to record the following events: Jul. 1 Klemens Company accepted a 5%, 3-month, $8,000 note dated July 1 from Mox Company for the balance due on Mox's account. Jul. 31 Klemens...
-
FINANCIAL STATEMENT ANALYSIS INSTRUCTIONS 1. PREPARE RATIO ANALYSIS REPORT ( word file) Format 1. Introduction 2. Importance of Financial Statements 3. Importance of Financial statement analysis and...
-
Let us assume that Europe is in recession, China's economy is slowing down, and the US economy is growing at 1-2%. Use these assumptions to invest in 4 ETFs (electronically traded funds). The 4 ETFs...
Study smarter with the SolutionInn App