Do you know how to write debit and credit on a general journal?
Written on July 27, 2010 at 9:15 pm, by adminIf yes, can you please help me answer these?? Please?
If you will answer the question, can you state the particulars too?
[[iknowitisbadthati'maskingthishere..!!but I really need the help!!]
I’ve already answered #1, #2 and #7. but feel free to answer them too. lol. I’m still answering the other questions. You can just pick one or two questions that you would like to answer. :]!!
This would be like confirming if my asnwers were right..for example in #1, my answer is dr. 18,000 cr. 18,000- ((18,000/36)(6))= 15,000?
is my answer right?
1. On 1 January 2007, Blair&Co. pays $18000 to Hebei Insurance Co. for a 3-year insurance contract. Both entries have financial years ending on 30 June. For Blair&Co., record the journal entry on January 1 and the adjusting entry on june 30.
2. Using the data in #1 record the entry on january 1 and the adjusting entry on june 30 for hebei insurance co. Hebei Insurance uses the accounts Unearned Insurance Revenue and Insurance Revenue.
3.On February 1, Guangxi Ltd. paid $8400 in advance for 2 years insurance coverage. Prepare Guangxi’s february 1 journal entry and the annual adjusting entry on june 30.
4, Mongolia Ltd. owns a warehouse. on May 1, the company rented storage space to a leasee(tenant) for 3 months for a total cash payment of $2700 recieved in advance. Prepare Mongolia’s May 1 journal entry and the June 30 annual adjusting entry.
5. Jiangsu Ltd’s week payroll, paid on fridays, totals $6000. Employees work a 5-day week. Prepare Jiangsu’s adjusting entry on Wednesday June 30, and the journal entry to record the $6000 cash paymet on friday July 2.
6. Included in Nigxia’s ltd’s June 30 trial balance is a note recievable for $10,000. The note is a 4-month, 12% note dated April 1. Prepare Ningxia’s June 30 adjusting enty to record $300 of accrued interest, and the August 1 journal entr to record reciept of $10, 400 from the borrower.
7. Prepare the following adusting entries at june 30 for Jilin& Co.
a. Interest on notes payable of $400 is accrued
b. Fees earned but not invoiced total $1400
c. Salaries earned by employees of $700 have not been recorded
d. Bad debt expense for the year is $900
Use the following account titles: Service Revenue, Accounts Recievable, Interest Expense, Interest Payable, Salaries Expense, Salaries Payable, Allowance for Doubtful Debts, and Bad Debt Expense.
8. (Transaction Analysis-service company) Bev Crusher is a CPA. During the firsth month of operations of her business (a sole proprietorship), the following eventsand transactions occurred.
April 2: Invested $32000 cash and equipment valued at $14000 in the business.
April 2: Hired a secretary receptionist at a salary of $290 per week payable monthly
April 3: Purchased supplies on account $700 (debit and asset account).
April 7: Paid office rent of $600 for a month
April 11: Completed a tax assignment and invoiced client $ 1100 for services rendered. (use service revenue account)
April 12: Recieved $3200 advnce on a management consulting engagement.
April 17: Recieved cash of $2300 for services completed for Ferengi Ltd.
April 21: Paid insurance expense $110.
April 30: Paid secretary-receptionist $1160 for the month
April 30: A count of supplies indicated that $120 of supplies had been used
April 30: Purchased a new computer for $6100 with personal funds. (The computer will be used exclusively for business purposes.)
This question would probably be better in the Education and Reference section.
Good luck.
Related Blogs
- More Insurance Equals More Spending | Linda Gorman | NCPA
- Advantages To Indemnity Health Insurance Plans | iPad Insurance
- Death Life Insurance – life insurance vietnam
- Lawyer: Taxes, Not Clothes, Blago’s Top Expense / Chicago News Cooperative
- Tableau Doubles Revenue by Making Data More Visual, More Fun | Xconomy
- Auto Insurance Company Rankings | Submit Article
- Ohio June mass layoffs indicator that ‘jobless recovery’ sign of labor realignment | Toledo Newspaper
- Singapore Visitor Arrivals Up By 26.7% For June 2010 | Gov Monitor
- ICAHN: “I WILL SPARE NO EXPENSE” AGAINST LIONS GATE | Studio Briefing
- Beware Of Any Life Insurance Company | SmeMedic
- Google Places Police | Search Engine Journal
- Bank Cash Assets, Failures, Trends | The Big Picture
- Eugene Donnelly places last minute Lurgan Park entry | RallyBuzz
- BookaTrack.com Ltd Announce Replacement Caterham Rental Fleet | RallyBuzz
- US, Israel Threaten Lebanon As Arabs Prepare To Visit Beirut : Political Theatrics
- Teresa Giudice & Hubby Prepare for Bankruptcy Auction | OK! Magazine – The First for Celebrity News
- Free Download MP3 Album Making April – Lost Sessions
- Sohu revenue surpasses expectations | Investing Contrarian
- What type of life insurance policy does the military offer? | Insurance Pennsylvania | Auto | Disability | Homeowners | Life | Health
- Iceland’s EU entry talks start today | IceNews – Daily News
Print Management Services Available To Businesses
Written on July 27, 2010 at 12:12 pm, by admin
At Projects Print Management we can
offer a wide choice of options to assist
you in planning your print requirements.
We constantly suggest ways to reduce
costs further and offer a totally free of
charge store and deliver on demand
service.
Get our ebook now for FREE at http://www.print-management-services….
Duration : 1 min 32 sec
OPD Module of Medigate- Hospital Management System
Written on July 27, 2010 at 12:10 pm, by admin
This is the OPD module of MEDIGATE, a complete hospital management system.For more information you can log on to http://www.chinarsoftech.co.in
Duration : 4 min 1 sec
Fish R stress management relaxation meditation
Written on July 27, 2010 at 12:07 pm, by admin
I find watching fish a great stress tool.
You can drift off into a meditation and calm.
Shot in my local aquarium. One day I shall have a tank like this. For stress relief tips and products go to
http://www.innerzest.co.uk
Duration : 44 sec
Learning Management System for Online Training
Written on July 27, 2010 at 12:05 pm, by admin
eLearningZoom Enterprise Learning Suite is the most comprehensive learning management system with built-in webinar, email marketing for live, and on-demand elearning.
http://www.eLearningZoom.com.
Duration : 1 min 54 sec