Novak Company had the following two transactions related to its delivery truck.1.Paid $53 for an oil change.2. Paid $480 to install special shelving units, which increase the operating efficiency of the truck.Prepare Novak's journal entries to record these two transactions. (Credit account titles are automatically indented when amount isentered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)No Account Titles and Explanation1.2.DebitCredit

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College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter3: The General Journal And The General Ledger

Section: Chapter Questions

Problem 6E: The bookkeeper for Nevado Company has prepared the following trial balance: The bookkeeper has asked...

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Crane Company had the following two transactions related to its delivery truck. 1. Paid $54 for an oil change. 2. Paid $427 to install special shelving units, which increase the operating efficiency of the truck. Prepare Crane Company’s journal entries to record these two transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit 1. enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit amount enter a credit amount 2. enter an account title to record the second transaction enter a debit amount enter a credit amount enter an account title to record the second transaction
Swifty Company had the following two transactions related to its delivery truck. 1. Paid $31 for an oil change. 2. Paid $260 to install special shelving units, which increase the operating efficiency of the truck. Prepare Swifty's journal entries to record these two transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No Account Titles and Explanation Debit Credit 1. 2.
Ivanhoe Company had the following two transactions related to its delivery truck. 1. Paid $58 for an oil change. 2. Paid $430 to install special shelving units, which increase the operating efficiency of the truck. Prepare Ivanhoe Company's journal entries to record these two transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit 1. Maintenance and Repairs Expense Cash | 2.
Pharoah Company had the following two transactions related to its delivery truck. 1. Paid $43 for an oil change. 2. Paid $405 to install special shelving units, which increase the operating efficiency of the truck. Prepare Pharoah Company's journal entries to record these two transactions. (Credit account titles are automatically Indented wher amount Is entered. Do not indent manually. If no entry is requlred, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit 1. 2.
Monty Company had the following two transactions related to its delivery truck. 1. Paid $95 for an oil change. Paid $520 to install special gear unit, which increases the operating efficiency of the truck. 2. Prepare Monty's journal entries to record these two transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No Account Titles and Explanation 1. 2. Debit Credit
Creative Solutions Company, a computer consulting firm, has decided to write off the $15,220 balance of an account owed by a customer, Wil Treadwell. a. Journalize the entry to record the write-off, assuming that the direct write-off method is used. If an amount box does not require an entry, leave it blank. Account Debit Credit Bad Debt Expense Accounts Receivable-Wil Treadwell Feedback Check My Work Remember that under the direct write-off method, Bad Debt Expense is not recorded until the customer's account is determined to be worthless. b. Journalize the entry to record the write-off, assuming that the allowance method is used. If an amount box does not require an entry, leave it blank. Account Debit Credit Allowance for Doubtful Accounts Accounts Receivable-Wil Treadwell
Capstone Solutions Company, a computer consulting firm, has decided to write off the $45,800 balance of an account owed by a customer, Philadelphia Inc. a. Journalize the entry to record the write-off, assuming that the direct write-off method is used. If an amount box does not require an entry, leave it blank.
Pronghorn Company had the following two transactions related to its delivery truck. 1. 2. Prepare Pronghorn's journal entries to record these two transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Paid $110 for an oil change. Paid $550 to install special gear unit, which increases the operating efficiency of the truck. No Account Titles and Explanation 1. 2. Debit Credit
The bookkeeper for Nevado Company has prepared the following trial balance: The bookkeeper has asked for your help. In examining the companys journal and ledger, you discover the following errors. Use this information to construct a corrected trial balance. a. The debits to the Cash account total 8,000, and the credits total 3,300. b. A 500 payment to a creditor was entered in the journal correctly but was not posted to the Accounts Payable account. c. The first two numbers in the balance of the Accounts Receivable account were transposed when the balance was copied from the ledger to the trial balance. d. The 1,500 amount withdrawn by the owner for personal use was debited to Miscellaneous Expense by mistakeit was correctly credited to Cash.
Creative Solutions Company, a computer consulting firm, has decided to write off the $15,220 balance of an account owed by a customer, Wil Treadwell. Question Content Area a. Journalize the entry to record the write-off, assuming that the direct write-off method is used. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blank Bad Debt Expense Bad Debt Expense Accounts Receivable-Wil Treadwell Accounts Receivable-Wil Treadwell Feedback Area Feedback Remember that under the direct write-off method, Bad Debt Expense is not recorded until the customer's account is determined to be worthless. Question Content Area b. Journalize the entry to record the write-off, assuming that the allowance method is used. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blank Allowance for Doubtful Accounts Allowance for Doubtful Accounts
Flounder Manufacturing has old equipment that cost $48,500. The equipment has accumulated depreciation of $28,100. Flounder has decided to sell the equipment. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (a) What entry would Flounder make to record the sale of the equipment for $31,000 cash? (b) What entry would Flounder make to record the sale of the equipment for $15,000 cash? Account Titles and Explanation I (a) 1 (b) Debit Credit 11
Journalize the entries to correct the following errors: a. A purchase of supplies for $201 on account was recorded and posted as a debit to Supplies for $595 and as a credit to Accounts Receivable for $595. (Record the entry to reverse the error first.) If an amount box does not require an entry, leave it blank. b. A receipt of $5,900 from Fees Earned was recorded and posted as a debit to Fees Earned for $5,900 and a credit to Cash for $5,900. If an amount box does not require an entry, leave it blank.

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