ch+8+solutions

ch+8+solutions - Chapter 8 (10-15 min.) E 8-2 Journal DATE...

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Unformatted text preview: Chapter 8 (10-15 min.) E 8-2 Journal DATE ACCOUNT TITLES AND EXPLANATION DEBIT CREDIT Sept. 30 Cash………………………………………… 312 Unearned Subscription Revenue…… 300 Sales Tax Payable ($300 × .04) ……… 12 Dec. 15 Sales Tax Payable………………………… 12 Cash……………………………………… 12 31 Unearned Subscription Revenue………. 75 Subscription Revenue ($300 × 3/12). . 75 BALANCE SHEET Current liabilities: Unearned subscription revenue ($300 – $75)…………. $225 (5-10 min.) E 8-4 Req. 1 Interest to accrue at = $100,000 × .08 × 6/12 = $4,000 Dec. 31, 20X6 Chapter 8 Current and Long-Term Liabilities 23 Req. 2 Final payment = $100,000 + ($100,000 × . 08) = $108,000 on July 1, 20X7 Req. 3 Interest expense for: 20X6 = $100,000 × .08 × 6/12 = $4,000 20X7 = $100,000 × .08 × 6/12 = $4,000 Financial Accounting 6/e Solutions Manual 24 (30-40 min.) P 8-2B Journal DATE ACCOUNT TITLES AND EXPLANATION DEBIT CREDIT 20X5 Feb. 3 Machine. 3 Machine....
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This note was uploaded on 10/26/2009 for the course ACCT 2001 taught by Professor Lowe during the Fall '08 term at LSU.

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ch+8+solutions - Chapter 8 (10-15 min.) E 8-2 Journal DATE...

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