Recording and Reporting Liabilities Excel Case Problem Applejack Company is the world's largest wholesale distributor of swimming
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Recording and Reporting Liabilities Excel Case Problem
Applejack Company is the world's largest wholesale distributor of swimming pool supplies and
equipment. It is a publicly traded corporation that trades on the NASDAQ exchange. It sells
these products to swimming pool repair and service businesses, swimming pool builders, and
retail swimming pool stores. The majority of these customers are small, familyowned
businesses. Applejack Company completed the following transactions during The annual
accounting period ends December
Sept Purchased and paid for merchandise for resale at an invoice cost of $
Oct. Borrowed $ from Southwest Bank for general use; signed an month,
interestbearing note payable.
Oct. Received a $ customer deposit from Joe Jones for services to be
performed in the future
Oct Performed $ of the services paid for by Mr Jones
Dec Received electric bill for $ Smith will pay it in early January.
Dec Determined wages of $ earned but not yet paid on December st
disregard payroll taxes
Required: Submit your answers below in an Excel spreadsheet. Include formulas.
Prepare journal entries for each of these transactions.
Prepare any adjusting entries required on December
Related Book For
Financial Accounting
ISBN: 978-1259105692
6th Canadian edition
Authors: Robert Libby, Patricia Libby, Daniel G Short, George Kanaan, Maureen Sterling
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