Make a Journal Entries of the ff A customer pays for his $100 meal in your restaurant using a VISA card VISA charges you 4 fee (VISA pays you the cash immediately) Corp owes $1,400 for merchandise it bought last month Terms of the purchase are 2 10 n30 Corp pays within the discount period Prepare Corp s entry to pay this invoice Bob signs a $10,000, 8 , 90 day promissory note to you in payment of a past due account You collect a $10,000, 8 , 90 day note in full (on the due date) Note you did not do any entries to accrue interest Prepare the entry honoring the note BeeCorp bought a machine paying $120,000 Estimated life is 60 months Using straight line depreciation prepare the journal entry to record ONE MONTHS depreciation JayCo is disposing of a machine fully depreciated machine with an original cost of $25,000 Prepare the entry to dispose of the machine WalMart sold a TV collecting $600 PLUS 8 sales tax Prepare WalMarts entry recording this transaction BobCo sends a check to pay off his $1,000, 12 , 6 month note Prepare BobCosentry to pay off the note he owes (He did not accrue interest each month) JCo sells $50,000 worth of machines in MAY JCo expects 8 warranty claims for these machines Prepare JCos MAY journal entry for the expected warranty costs Bob is a customer of JCo who owes $1,000 JCo has decided the write off the Bob account using the Direct Write Off method Prepare the entry Company issued $1,000,000 of 6 bonds at par Prepare the entry to issue the bonds Company issued $1,000,000 of 6 bonds at par Prepare the entry to pay the first semi annual interest payment DCorp issued 10,000 shares of $10 par stock at $17 Prepare the entry to issue the stock ZeeCo declares a $100,000 cash dividend to its shareholders Prepare the entry, on the date of declaration date, for the dividend (Note the dividend will actually be paid out next month) MCo sells $100,000 worth of machine in JAN MCo anticipates 5 warranty claims for these machines Which of these statements is NOT true regarding the warranty

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Posted on Sep 13, 2024

Make a Journal Entries of the ff: A customer pays for his $100 meal in your restaurant using a VISA card. VISA charges you 4%

Make a Journal Entries of the ff:

A customer pays for his $100 meal in your restaurant using a VISA card. VISA charges you 4% fee. (VISA pays you the cash immediately).
Corp. owes $1,400 for merchandise it bought last month. Terms of the purchase are 2/10/n30. Corp pays within the discount period. Prepare Corp.s entry to pay this invoice.
Bob signs a $10,000, 8%, 90 day promissory note to you in payment of a past due account.
You collect a $10,000, 8%, 90 day note in full (on the due date) Note you did not do any entries to accrue interest. Prepare the entry honoring the note.
BeeCorp bought a machine paying $120,000. Estimated life is 60 months. Using straight-line depreciation prepare the journal entry to record ONE MONTHS depreciation.
JayCo is disposing of a machine fully depreciated machine with an original cost of $25,000. Prepare the entry to dispose of the machine.
WalMart sold a TV collecting $600 PLUS 8% sales tax. Prepare WalMarts entry recording this transaction.
BobCo sends a check to pay off his $1,000, 12%, 6 month note. Prepare BobCosentry to pay off the note he owes. (He did not accrue interest each month)
JCo sells $50,000 worth of machines in MAY. JCo expects 8% warranty claims for these machines. Prepare JCos MAY journal entry for the expected warranty costs.
Bob is a customer of JCo who owes $1,000. JCo has decided the write off the Bob account using the Direct Write-Off method. Prepare the entry.
Company issued $1,000,000 of 6% bonds at par. Prepare the entry to issue the bonds.
Company issued $1,000,000 of 6% bonds at par. Prepare the entry to pay the first semi-annual interest payment.
DCorp issued 10,000 shares of $10 par stock at $17. Prepare the entry to issue the stock
ZeeCo declares a $100,000 cash dividend to its shareholders. Prepare the entry, on the date of declaration date, for the dividend. (Note: the dividend will actually be paid out next month).
MCo sells $100,000 worth of machine in JAN. MCo anticipates 5% warranty claims for these machines. Which of these statements is NOT true regarding the warranty?