Question Details

(Solved) Thank you Additional Information: Notes Receivable is a 3-month, 6% note accepted on November 1, 2015.


Can anyone please assist me with this below, it is urgent! Thank you


Additional Information:

  1. Notes Receivable is a 3-month, 6% note accepted on November 1, 2015.
  2. Long-Term Notes Payable is a 5-year, 5% note that was signed on July 1, 2015. Interest is payable annually.
  3. Building is depreciated at 3% per year. There is no salvage value.
  4. Equipment is depreciated at 15% per year. There is no salvage value.
  5. XYZ discovered, on December 30, that the inexperienced bookkeeper recorded in the general journal and general ledger that day's $1,500 cash sales as a debit to Accounts Receivable and a credit to Sales Revenue.
  6. The year-end physical count for Merchandise Inventory reflected a value of $51,500. Any difference in value will not be considered theft or loss.
  7. Salaries for the last half of December, payable in January, amount to $5,500.
  8. XYZ estimates that of the Accounts Receivable, 5% will not be collectable.

Required:

  1. Prepare in journal form, any required correcting entries.
  2. Prepare in journal form, all end-of-the-period adjusting entries.
  3. Prepare a December adjusted trial balance.
  4. Prepare a classified balance sheet for the year ended December 31, 2015.
  5. Prepare in journal form, the closing entries for the year ended December 31, 2015.

 


Solution details:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Sep 05, 2019

PRICE: $15

Solution~000200153909.zip (25.37 KB)

Buy this answer for only: $18

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free solution (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Sep 05, 2019

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP/h4>

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN A DEADLINE.

Order Now