discuss the cruise of three Great White Fleet. What
were the messages the United States sent, and to whom were these
messages ?
In: Economics
An analysis of the transactions made by Carla Vista & Co., a
certified public accounting firm, for the month of August is shown
below. The expenses were $700 for rent, $3,800 for salaries and
wages, and $500 for utilities.
| Cash | + | Accounts Receivable |
+ | Supplies | + | Equipment | = | Accounts Payable |
+ | Owner’s Capital |
– | Owner’s Drawings |
+ | Revenues | – | Expenses | ||
| 1. | $14,900 | $14,900 | ||||||||||||||||
| 2. | –2,800 | $5,000 | $2,200 | |||||||||||||||
| 3. | –750 | $750 | ||||||||||||||||
| 4. | 5,500 | $3,500 | $9,000 | |||||||||||||||
| 5. | –1,300 | –1,300 | ||||||||||||||||
| 6. | –1,900 | –$1,900 | ||||||||||||||||
| 7. | –700 | –$700 | ||||||||||||||||
| 8. | 350 | –350 | ||||||||||||||||
| 9. | –3,800 | –3,800 | ||||||||||||||||
| 10. | 500 | –500 |
Assume that August is the company’s first month of business.
Prepare a balance sheet at August 31, 2020. (List Assets in order of liquidity.)
In: Accounting
The cash account for American Medical Co. at April 30 indicated a balance of $93,115. The bank statement indicated a balance of $125,800 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items:
| A. | Checks outstanding totaled $30,060. |
| B. | A deposit of $19,240, representing receipts of April 30, had been made too late to appear on the bank statement. |
| C. | The bank collected $24,075 on a $22,500 note, including interest of $1,575. |
| D. | A check for $1,800 returned with the statement had been incorrectly recorded by American Medical Co. as $180. The check was for the payment of an obligation to Targhee Supply Co. for a purchase on account. |
| E. | A check drawn for $390 had been erroneously charged by the bank as $930. |
| F. | Bank service charges for April amounted to $50. |
| Instructions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 1. | Prepare a bank reconciliation. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. “Deduct:” or “Add:” will automatically appear if it is required. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2. | Journalize the necessary entries. The accounts have not been closed. Refer to the Chart of Accounts for exact wording of account titles. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3. |
If a balance sheet is prepared for American Medical Co. on April 30, what amount should be reported as cash?
|
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In: Accounting
Carbon monoxide and molecular hydrogen react to form methanol. A 5.70 L reactor at 25.0 oC is charged with 2.56 bar of CO. The gas is then pressurized with H2 to give a total pressure of 3.26 bar. The reactor is sealed, heated to 350 o C to drive the reaction to completion, and cooled back to 25.0 o C. Compute the final partial pressure of each gas (in bar) after the reaction has occurred.
In: Chemistry
In: Computer Science
Discuss how Active Directory provides centralized management and administration, and introduce the tools used for this purpose.
Discuss the categorizing of Active Directory resources as well as the hierarchy in which they operate and interact with each other. Explain naming contexts within forests and the different items that can be contained within organizational units.
# No plagiarism please
In: Computer Science
Ivanhoe Co. provides music lessons to many clients across the city. The following information is available to be used in recording annual adjusting entries at the company’s September 30, 2021, year-end: 1. On October 1, 2020, the company had a balance of $1,990 in its supplies account. Additional supplies were purchased during the year totalling $1,790. The supplies inventory on September 30, 2021, amounts to $800. 2. On November 1, 2020, Ivanhoe purchased a one-year insurance policy for $3,120. 3. On January 2, 2021, a client paid $1,560 for six months of lessons starting April 2, 2021. 4. On February 1, 2021, Ivanhoe purchased a grand piano (to be used in music lessons) for $25,200. The piano’s estimated useful life is 12 years. 5. On May 1, 2021, Ivanhoe borrowed $29,400 from the bank and signed a 10-month, 8% note payable. Interest and principal are to be paid at maturity. 6. On August 1, 2021, Ivanhoe signed a contract with a neighbourhood school to provide weekly piano lessons to some of its students for a fee of $1,760 per month. The contract called for lessons to start on September 1, 2021. The school has not yet been sent an invoice for the month of September. 7. On August 15, 2021, the company paid $10,080 to Pinnacle Holdings to rent additional studio space for nine months starting September 1. Ivanhoe recorded the full payment as Prepaid Rent. 8. Ivanhoe’s instructors have earned salaries of $3,370 for the last week of September 2021. This amount will be paid to the instructors on the next payday: October 6, 2021. 9. Music lessons were provided to a local church group for $1,260 on September 30, 2021. Ivanhoe has not yet invoiced the group or recorded the transaction. 10. In early October 2021, Ivanhoe received an invoice for $910 from the utility company for September utilities. The amount has not yet been recorded or paid. Prepare the adjusting journal entries.
In: Accounting
In: Advanced Math
Prepare the necessary general journal entries for the month of October and November for DynaCore Retail for each situation given below. Omit explanations. Oct. 5 - Paid cash of $23,000 for operating expenses that were incurred and properly recorded in the previous period as liabilities. 9 - Purchased merchandise for $52,000 on account. Credit terms: 2/10, n/30, FOB Shipping Point. 12 - Received a freight bill of $170 for merchandise purchased on October 9, from XYZ Co. 17 - Paid for merchandise purchased on October 9. The company takes all discounts to which it is entitled. 20 - Sold merchandise for $10,000 to Rattles Distribution on account. The cost of the merchandise sold was $4,200. Credit terms: 2/10, n/30. 26 - Issued a credit memo to Rattles Distribution for $500 for merchandise returned from the sale on October 20. The cost of the merchandise returned was $330. Nov. 1 - Received payment from Rattles Distribution for the sale on October 20.
(a) DynaCore uses a perpetual inventory system. (b) DynaCore uses a periodic inventory system.
In: Accounting
The trial balance of Winter Co. does not balance:
|
WINTER CO. |
|||
|
Debit |
Credit |
||
|
Cash |
$2,833 |
||
|
Accounts receivable |
1,990 |
||
|
Supplies |
532 |
||
|
Equipment |
$7,875 |
||
|
Accounts payable |
2,573 |
||
|
Unearned revenue |
1,847 |
||
|
F. Winter, capital |
11,221 |
||
|
F. Winter, drawings |
801 |
||
|
Service revenue |
3,475 |
||
|
Office expense |
978 |
||
|
Salaries expense |
2,977 |
||
|
$11,958 |
$25,144 |
||
Your review of the ledger reveals that each account has a normal
balance. You also discover the following errors:
| 1. | Cash received from a customer on account was debited to Cash for $860 and Accounts Receivable was credited for the same amount. The actual collection was $680. | |
| 2. | The purchase of supplies on account for $350 was recorded as a debit to Equipment for $350 and a credit to Accounts Payable for $350. | |
| 3. | Services of $860 were performed on account for a client. Accounts Receivable was debited for $86 and Service Revenue was credited for $860. | |
| 4. | A debit posting to Office Expense of $510 was not done. | |
| 5. | A payment on account for $605 was credited to Cash for $605 and debited to Accounts Payable for $506. | |
| 6. | The withdrawal of $390 cash for Winter’s personal use was debited to Salaries Expense for $390 and credited to Cash for $390. | |
| 7. | A transposition error (reversal of digits) was made when copying the balance in Service Revenue to the trial balance. The correct balance recorded in the account was $4,375. | |
| 8. | The general ledger contained a Prepaid Insurance account with a debit balance of $647. |
Prepare a correct trial balance.
In: Accounting