Nightwoundstime Brewing Company distributes its products in an aluminum keg. Customers are charged a deposit of 575 per Keg; deposits are recorded in the Keg Deposits account Exercise 7-13 (Algo) Part b - Horizontal model b-1. Use the horizontal model to show the effect of giving a keg deposit refund to a customer for one keg Indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. its products in an aluminum keg. Customers are charged a deposit of $75 its account. Ig a keg deposit refund to a customer for one keg. Indicate the financial negative financial statement effect. NightWoundsTime Brewing Company distributes its products in an aluminum keg. Customer5 are charged a deposit of $75 per keg: deposits are recorded in the Keg Deposits account. Exercise 7-13 (Algo) Part b - Journal entry b-2. Record the joumal entry to show the effect of giving a keg deposit refund to a customer for one keg Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld. Journal entry worksheet NightWoundsTime Brewing Company distributes its products in an aluminum keg. Customers are charged a deposit of $75 per keg; deposits are recorded in the Keg Deposits account. Exercise 7-13 (Algo) Part c - Horizontal model c-1. A keg use analyst who works for NightWoundsTime estimates that 460 kegs for which deposits were recelved during the year will never be returned. What accounting. If any, would be appropriate for the deposits associated with these kegs? indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. minum keg. Customers are charged a deposit of $75 kegs for which deposits were received during the year will posits associated with these kegs? Indicate the financial tatement effect. NightWoundstime Brewing Company distributes its products in an aluminum keg. Customers are charged a deposit of $75 per keg; deposits are recorded in the Keg Deposits account. Exercise 7-13 (Algo) Part c-Journal entry c-2. A keg use analyst who works for Nightwoundstime estimates that 460 kegs for which deposits were received during the year will never be returned. Record the accounting that would be appropriate for the deposits associated with these kegs? Note: If no entry is requlred for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the elimination of the liability for unretumed kegs. Note: Finter detiits before credits NightWoundsTime Brewing Company distributes its products in an aluminum keg. Customers are charged a deposit of $75 per keg, deposits are recorded in the Keg Deposits account. Exercise 7-13 (Algo) Part d-Horizontal model d. Use the horizontal model, demonstrate accounting that would be appropriate for the cost of the kegs that are purchased and used by NightWoundsTime Brewing Company, including how to account for unreturned kegs? Indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financlal statement effect. opriate for the cost of the kegs that are purchased and used Ireturned kegs? Indicate the financial statement effect. al statement effect
