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New Member
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Nov 25, 2007, 04:42 PM
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Journalizing transactions
How will I journalize this transactions
Paid lancaster advertising agency $645.22 for preparing advertisements in local newspapers
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New Member
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Nov 25, 2007, 04:53 PM
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Originally Posted by whitem555
how will i journalize this transactions
Paid lancaster advertising agency $645.22 for preparing advertisements in local newspapers
Dr. Advertising Expense
Cr. Cash
Dr.= Debit
Cr.=Credit
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New Member
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Nov 25, 2007, 05:34 PM
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How do u journalize this transactions?
Paid palomar properties $3,660.00 for jan. rent. Of this amount, 30% is for office facilities and 70% is for factory facilities
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Junior Member
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Nov 25, 2007, 06:01 PM
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Originally Posted by whitem555
how do u journalize this transactions?
Paid palomar properties $3,660.00 for jan. rent. Of this amount, 30% is for office facilities and 70% is for factory facilities
Dr.Rent expense- office space... 1,098
Dr. Rent Expense- factory space... 2,562
Cr. Cash... 3,660
That is assuming that the 3,600 is not a prepaid amount for a certaint amount of time.
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New Member
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Nov 25, 2007, 06:51 PM
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How would I journalize
Receiced a check from lowland corporation for the amount due within the discount period 9340.00
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New Member
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Nov 25, 2007, 06:59 PM
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How would I journalize?
Paid state national bank 27,412.00 for December payroll taxes payable as follows:
Employee's income tax payable, 16,800.00: FICA Tax Payable, 10,612.00
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Junior Member
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Nov 26, 2007, 01:23 AM
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Originally Posted by whitem555
how would i journalize
receiced a check from lowland corporation for the amount due within the discount period 9340.00
I wish you had included the amount or % of the discount given. I am guessing the discount is for a sale
Then:
Dr. Cash... xxxxx
Dr. Sales discount... xxxxx
Cr. Accounts receivable... $9,340
And if the discount is not from a sale
Dr. Cash... xxxx
Dr. Discount Expense... xxxx
Cr. Accounts receivable... 9,340
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Junior Member
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Nov 26, 2007, 01:27 AM
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You want to hire an accountant please hire qcmar or she will give answers for free
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Junior Member
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Nov 26, 2007, 01:28 AM
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Originally Posted by whitem555
how would i journalize?
Paid state national bank 27,412.00 for december payroll taxes payable as follows:
employee's income tax payable, 16,800.00: FICA Tax Payable, 10,612.00
Dr.Employee's income tax payable... 16,800
Dr.FICA Tax payable... 10,612
Cr. Cash... 27,412
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Junior Member
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Nov 26, 2007, 01:42 AM
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Comment on qcmar24's post
Is a relly good question
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New Member
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Nov 26, 2007, 06:36 AM
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Comment on student 101's post
Because I think it was sarcastic
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New Member
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Nov 26, 2007, 06:38 AM
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Comment on qcmar24's post
Thank you qcmar for you help I'm new a this
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New Member
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Nov 26, 2007, 11:31 AM
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How do I journalize this
Applied 3,521 of direct materials(Direct Materials Requisition No. 238) and 8220.00 of direct labor (time ticket no. 129) to job no. 351, which will complete the job. The FICA rate is 7.65% of gross pay, and the employees' income tax rate is 18% of gorss pay. When preparing the entry for applying direct labor, debit work in progress fro the gross pay and credit employees' income tax payable and FICA tax payable for the appropriate amounts and salaries payable for net pay. Remember that employees' are paid on the last day of the month. Applied factory overhead is base upon 120% of direct labor cost transferred the completed job to the Finished Goods account.
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