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Hi Fredg,

I have done what the fractions for the first question and here is what I came up with for the answer. 1 11/24.

2/3 = 24 ÷ 3 = 8 x 2 = 16/24
3/8 = 24 ÷ 8 = 3 x 3 = 9/24
5/12= 24 ÷...

Hi Fredg,

Thanks for the explanation. I will try to do it and will get back to you with the answer.
Thanks again for you help.
Dell

Sorry if I went to the wrong site. I'm asking for help, but I guess I must be in the wrong site.

Have a nice day.

Dell

1- Add the fractions 2/3, 3/8, and 5/12 and reduce your answer to lowest terms.

2- Subtract the fraction 7 4/5 from the fraction 18 6/15 and reduce your answer to lowest terms.

3- Divide the...

Thank you again. Are you a teacher? Your explanation are really good to understand.

Take care,
Dell

Thank you so much.

Dell

Instead of crediting sales can I enter the credit to Fee Income, because the company doesn't have a Sales account.

Thanks,
Dell

The following transactions took place during the month of December;

Dec. 5 Received a check for $30 representing interest due on marketable securities.

Interest Receivables $30 DR
Interest...

Accepted a 90-day $1,000 note receivable from a company for services performed.

How do I journalize this transacation?

Note Receivables DR $1,000 and CR to which account?

Thanks,
Dell

Thanks for explaining it.

Dell

Thank you.

Dell

Thanks again Captain Forest.

Dell

Thanks for the explanation.

Dell

A business enterprise pays weekly salaries of $20,000 every Friday for the five-day week ending on that day. If the fiscal period happens on a Thursday, an adjusting entry would be necessary. This...

The supplies account has a balance of $810 at the beginning of the year and wa debited during the year for $1,950, representing the total of supplies purchased during the year. If $650 of supplies...

If, during an accounting period, assets increased by $80,000. And owner's equity decreased by $15,000, what change occurred to the total liabilities?

I answered a decreased o f$65,000. But I'm not...

Thanks for your help.

Thank you for your help.
Dell

Globo company accepted a $8000. Interest-bearing note receivable from a client on July 1. The note requires payment of 12% annual interest, and both the principal amount of the note and the interest...

1- The current section of a balance sheet includes which one of the following accounts?

1- Office Expenses
2- Accumulated depreciation
3- Advances from Clients
4- Mortgage Payable

Thanks for...