On December 31, 2010, Jarnigan Co. estimated that 2% of its net sales of $400,000 will become
Question:
Prepare the journal entries on December 31, 2010, May 11, 2011, and June 12, 2011.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 92% (14 reviews)
December 31 2010 Bad Debts Expense 2 X 400000 8000 Allowance f...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
Students also viewed these Accounting questions
-
The pivotal role of accountants today is to undertake much accounting work using computers (small accounting software or ERP system). This practice question in Part A will enable Business Accounting...
-
On December 31, 2014, Toro Company's Allowance for Doubtful Accounts had an unadjusted credit balance of $31,000. The accountant for Toro has prepared a schedule of the December 31, 2014, accounts...
-
On December 31, 2014, RCA Company's Allowance for Doubtful Accounts had an unadjusted debit balance of $7,800. The accountant for RCA has prepared a schedule of the December 31, 2014, accounts...
-
If the working papers correlating with this textbook are not used, omit Problem 2-5B. The following records of A-Aall Electronic Repair are presented in the working papers: Journal containing...
-
Rod AB has a length of 275 mm and is connected by a ball-and-socket joint to collar A and by a clevis connection to collar B. Knowing that collar B moves down at a constant speed of 1.35 m/s,...
-
Far Rockaway Manufacturing, a manufacturer of parts for diesel engines, provides the following financial information for the most recent fiscal year. Inventories: As of January 1 : Direct materials 8...
-
Use the Black-Derman-Toy model with \(b=.01\) to match the term structure of Example 16.7. Data from Example 16.7 The 12-year term structure has been extended here to 14 years. We will assume that...
-
Nina Corporation issued $8,000,000 in 6 percent, five-year bonds on March 1, 2010, at 92. The semiannual interest payment dates are September 1 and March 1. Prepare entries in journal form for the...
-
A new wave-soldering machine is expected to save Burnaby Circuit Boards $16,000 per year through reduced labour costs and increased quality. The device will have a life of nine years and will have no...
-
You work for ConstCo, a medium-sized engineering and construction company with annual profits of about $100 million. You recently entered as a contractor into a bidding process for a large...
-
At December 31, 2009, Braddock Company had a balance of $15,000 in the Allowance for Doubtful Accounts. During 2010, Braddock wrote off accounts totaling $13,000. One of those accounts ($1,800) was...
-
Presented below are two independent situations. (a) On March 3, Cornwell Appliances sells $680,000 of its receivables to Marsh Factors Inc. Marsh Factors assesses a finance charge of 3% of the amount...
-
At December 31, 2017, Nicholay Industries reports the following selected accounts from the unadjusted trial balance for its first year of operations: Instructions (a) Prepare the journal entry to...
-
What is the within-sector selection effect for each individual sector?
-
What is the standard index? What is the best-fit index?
-
If you were told that you would take a personal pay cut from switching to the more environmentally friendly route, how would that affect your decision?
-
The last step in the selling process is closing the sale. True or False
-
Using marketing intermediaries often adds efficiency to the supply chain. True or False
-
Which of the following are permissible options under the UCC when the seller does not tender the goods perfectly? a. Reject the entire shipment of goods within a reasonable time b. Accept the...
-
In Problems 1522, find the principal needed now to get each amount; that is, find the present value. To get $750 after 2 years at 2.5% compounded quarterly.
-
Draw two HCl molecules and show how they would be attracted to each other. Show the partial charges and dipole moment vectors for both molecules, and orient the molecules properly with respect to...
-
Gambinos Pizza operates strictly on a carryout basis. Customers pick up their orders at a counter where a clerk exchanges the pizza for cash. While at the counter, the customer can see other...
-
The following control procedures are used in Falk Company for over-the-counter cash receipts. 1. Cashiers are experienced; thus, they are not bonded. 2. All over-the-counter receipts are registered...
-
The following control procedures are used in Karinas Boutique Shoppe for cash disbursements. 1. Each week Karina leaves 100 company checks in an unmarked envelope on a shelf behind the cash register....
-
Explain how the OS and Utility programs work with application software. Summarize the features of several embedded operating systems course: introduction to information technology code: EBI...
-
Please explain and describe what are input and output devices. Explain what the differences are between an operating system, an embedded operating system, and a network operating system. Explain and...
-
Determine the complexity of the following pseudocode snippets in Big-O and Big-Q2. Do these code snippets have a Big-e? What are the functions doing? 1) my_func(some_nums) result = 0 for (num in...
Study smarter with the SolutionInn App