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Please show me how to write the journal entries, adjusted journal entries, and t - account! You may ignore income tax. 1 . Lillypop incorporated
Please show me how to write the journal entries, adjusted journal entries, and taccount! You may ignore income tax. Lillypop incorporated on January X by issuing shares of common stock for $ cash. On January Lilly pip purchased office equipment for $ by signing a sixmonth, $ note payable with a annual interest rate. Both interest and principal are due July X The equipment has a year useful life, an estimated $ residual value, and will be depreciated using the straightline method A customer pays $ cash to Lillypop on January for application design services tobe completed by April Vista agrees to perform the services uniformly across the months of January, February, March, and April. By the end of January, Lillypop has provided onefourth of the design services as agreed Lillypop pays Marshall Real Estate $ cash on January for Januarys office rent. Lillypop records rent payments as rent expense On January Lillypop pays $ cash for a twoyear liability insurance policy that expires on December X Because the insurance coverage transcends accounting periods, Lillypop records an asset for the cash payment. On January Lillypop purchases computer supplies from Tod Technologies for $ on account with payment due in days. At January a physical count shows $ of office supplies remain. Lillypop records supply purchases as an assey On January Lillypop signs a contract with an online news company to design and code an application for March X Lillypop will commence the contracted work in February, and payment of $ is due following the clients design acceptance and successful uploading of the application. Lillypop's board of directors declared and paid a cash dividend of $ on January Lillypop records the cash distribution using a Dividends account. Lillypop pays its employees weekly on each Friday for the work performed in that week. All employees started work on January The total weekly payroll is $based on a fiveday workweek Martin Luther King Day is a paid holiday. The last pay period in the month ended on Friday, January Consequently, although employees worked the last four days in January Monday through Thursday they will not be paid for those days until the first Friday of February. On January lillypop receives $ cash and bills an additional $ for $ of design and coding services provided for a variety of clients during January. Lillypop rovided web design services worth $ during January for Tomer, Inc. Lillypop billed the client, but has not yet recorded the transaction as of January Any unrecorded journal entries are entered at the end of the month as adjusting entries Lillypop estimates that of its ending accounts receivable balance will be uncollectible.
Please show me how to write the journal entries, adjusted journal entries, and taccount! You may ignore income tax.
Lillypop incorporated on January X by issuing shares of common stock for $ cash.
On January Lilly pip purchased office equipment for $ by signing a sixmonth, $ note payable with a annual interest rate. Both interest and principal are due July X The equipment has a year useful life, an estimated $ residual value, and will be depreciated using the straightline method
A customer pays $ cash to Lillypop on January for application design services tobe completed by April Vista agrees to perform the services uniformly across the months of January, February, March, and April. By the end of January, Lillypop has provided onefourth of the design services as agreed
Lillypop pays Marshall Real Estate $ cash on January for Januarys office rent. Lillypop records rent payments as rent expense
On January Lillypop pays $ cash for a twoyear liability insurance policy that expires on December X Because the insurance coverage transcends accounting periods, Lillypop records an asset for the cash payment.
On January Lillypop purchases computer supplies from Tod Technologies for $ on account with payment due in days. At January a physical count shows $ of office supplies remain. Lillypop records supply purchases as an assey
On January Lillypop signs a contract with an online news company to design and code an application for March X Lillypop will commence the contracted work in February, and payment of $ is due following the clients design acceptance and successful uploading of the application.
Lillypop's board of directors declared and paid a cash dividend of $ on January Lillypop records the cash distribution using a Dividends account.
Lillypop pays its employees weekly on each Friday for the work performed in that week. All employees started work on January The total weekly payroll is $based on a fiveday workweek Martin Luther King Day is a paid holiday. The last pay period in the month ended on Friday, January Consequently, although employees worked the last four days in January Monday through Thursday they will not be paid for those days until the first Friday of February.
On January lillypop receives $ cash and bills an additional $ for $ of design and coding services provided for a variety of clients during January.
Lillypop rovided web design services worth $ during January for Tomer, Inc. Lillypop billed the client, but has not yet recorded the transaction as of January Any unrecorded journal entries are entered at the end of the month as adjusting entries
Lillypop estimates that of its ending accounts receivable balance will be uncollectible.
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