1. Prepare Income Statement and Balance Sheet dated 31 July 2022 by using the following accounts. The values are stated monthly basis. Please make sure you properly follow the classification shown in the classi Account Cash Car Insurance Rent Phone Credit Card Debt Car Loan Entertainment Expense Amount in CAD 3000 450 1600 700 Investment in Bond Net Worth 300 4500 100 Phone Bill (Same Every 30 Month) 200 3380 Amount in CAD 5000 9000 50 200 Account Salary Car Utility Expense Transportation Expense Child Benefit 300 Wifi Bill 50 Borrowed from friends 200 for 6 months Tuition Income Vacation to Mexico Study Loan 300 600 2000
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- transcribed image text: Luna's savings account had the following balances. Date 04/01/2019 04/17/2019 05/28/2019 06/22/2019 Balance 726,000 782,000 800,000 How much is Luna's ADB for the 2nd quarter of 2019? 535,000 O P752,670.33 O P752,380.43 O P760,648.35 O P761,033.33Cy loans Mookie The Beagle™ Concierge $2,000 at 6% annual interest. Record the transaction as a loan payable as follows. Complete a Deposit. Select Create (+) icon > Bank Deposit Select Account: Checking Select Date: 01/12/2022 In Add Funds to This Deposit section, select Account: + Add New > Loan Payable > Account Type: Other Current Liabilities > Detail Type: Loan Payable > Name: Loan Payable, then select Save and close Select Payment Method: Check Enter Ref No.: 5002 Enter Amount: 2000.00 Select Save and close What is the Amount of the Loan Payable? (Answer this question in the table shown below. Round your answer 2 decimal places.) View the Transaction Journal for the Deposit. From the Navigation Bar, select Accounting From the Chart of Accounts, select Loan Payable > View Register From the Register, select the transaction just recorded > Edit From the bottom of the Loan Payable transaction, select More > Transaction Journal What are the…What is Disney's Average Collection Period for the year ending 9/30/2019 using Yahoo finance data? Use this information for accounts receivable: 2018 accounts receivable 8,275,000 2019 accounts receivable 12,882,000 28.6 years 29.1 years 34.1 days 54.7 days
- Transactions 2019 Dec. 2020 Mar. Sep. Nov. Dec. Dec. 31 Estimated that bad debt expense for the year was 4 percent of credit sales of $384,500 and recorded that amount as expense. 31 Made the closing entry for bad debt expense. 26 Sold inventory to Melinda Monet, $10,400.00, on credit terms of 2/10, n/30. Ignore cost of goods sold. 15 Wrote off Melinda Monet's account as uncollectible after repeated efforts to collect from her. 10 Received $5,400 from Monet, along with a letter stating her intention to pay her debt in full within 30 days. Reinstated her account in full. 5 Received the balance due from Monet. 31 Made a compound entry to write off the following accounts as uncollectible: Bob Keffer, $2,000; Marilyn Lee, $870.00; and Rich Alton, $12,300. 31 Estimated that bad debt expense for the year was 3 percent of credit sales of $810,000 and recorded the expense. 31 Made the closing entry for the bad debt expense. Print Done XFind the finance charge for the givevn charge account given in the table. Assume interest is calculated on the average daily balance of the account. Average Daily Balance Monthly Interest Rate $431.64 1.08% The finance charge for the given account is?Accounts Receivable as of December 31, 2020 should amount to: *A. 180,000B. 330,000C. 525,000D. 555,000
- Kelly Jones and Tami Crawford borrowed $10,500 on a 7-month, 8% note from Gem State Bank to open their business, Oriole’s Coffee House. The money was borrowed on June 1, 2022, and the note matures January 1, 2023. Prepare the entry to record the receipt of the funds from the loan. Date Account Titles and Explanation Debit Credit June 1 enter an account title to record the receipt of the funds from the loan on June 1enter an account title to record the receipt of the funds from the loan on June 1 enter a debit amountenter a debit amount enter a credit amountenter a credit amount enter an account title to record the receipt of the funds from the loan on June 1enter an account title to record the receipt of the funds from the loan on June 1 enter a debit amountenter a debit amountThe balance sheet for Ivanhoe Consulting reports the following information on July 1, 2020. Long-term liabilities Bonds payable $4,500,000 Less: Discount on bonds payable 315,000 $4,185,000 Ivanhoe decides to redeem these bonds at 101 after paying annual interest.Prepare the journal entry to record the redemption on July 1, 2020. what is the account title or explanation? what is debit or credited?The following information appears on your most recent credit card bill: Statement Date 03/1/2019 Previous Balance 154.32 Previous Payment 154.32 New Balance $145.79 Annual Percentage Rate 15.50% a) Find the periodic rate. (Round to 2 decimal places) b )How much interest will you pay on this statement.(Note :You paid off your entire balance last month.) c)If you make a payment of $50, what will your balance be after your payment (Before your next statement (04/1/2019))
- rive loan is below. Payments of $1,987.26 are made monthly. Payment # Payment 1 1,987.26 2 1,987.26 3 1,987.26 Interest Debt Payment Balance 1,604.17 383.09 1,602.41 384.85 1,600.65 386.61 Provide your answer below: X Y Z Calculate the value of z, the balance of the loan at the end of month 3. Give your answer to the nearest dollar. Do not include commas or the dollar sign in your answer.1. Journalize the entries to record the transactions. Round all amounts to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles. 2. Indicate the amount of the interest expense in (a) 20Y1 and (b) 20Y2. 3. Determine the carrying amount of the bonds as of December 31, 20Y2. (Refer to image, thank you!)N. Saving... V O Search (Alt+Q) ngs Review View Help Grammarly The balance on a credit card, that charges a 28.5% APR interest rate, over a 1 month period is given in the following table: Days 1-3: $150 (initial balance) Days 4-20: $200 ($50 purchase) Days 21-30: $50 ($150 payment) What is the finance charge, on the average daily balance, for this card over this 1 month period? Hint: First, calculate the balance for the 30 days. To do this, take the number of days and multiply it by the balance. What was the balance for the first 3 days? 3($[?]) + ($200) + ($50) Enter