Ch8 - Cash Unearned Subscriptin Revenue Sales Tax Payable...

Info iconThis preview shows pages 1–10. Sign up to view the full content.

View Full Document Right Arrow Icon
Debit Credit Cash 1,512 Unearned Subscriptin Revenue 1,400 Sales Tax Payable 112 Sales Tax Payable 112 Cash 112 Unearned Subscription Revenue 350 Subscription Revenue 350
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
TransWorld Publishing Balance Sheet subscription 1,400 Unearned Revenue 1,050 tax 112 total 1,512 susbscriptions 1,400 montly 117 3 months 350
Background image of page 2
Payroll 200,000 Payroll Tax Expense 8% Payroll Taxes 16,000 Income Statement: Revenue. ... Expenses: Salary Expense 200,000 Payroll Tax Expense 16,000 Balance Sheet: Assets. .. Liabilites: Salary Payable 8,100 Payroll Tax Payable 800
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Note Payable 83,000 Term 1 year Start Date 5/1/2010 End Date 4/30/2011 annual monthly Interest Rate 6% annual rate 4,980 415 1. Initial Obligation (2010) Delivery Truck 83,000 Notes Payable 83,000 2. Periodic Interest (2010) Interest Expense 3,320 Interest Payable 3,320 3. Final Payment (2011) Note Payable 83,000 Interest Payable 3,320 Interest Expense 1,660 Cash 87,980
Background image of page 4
8 3,320 1,660
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Income Tax Payable Net Income b4 taxes 1,200,000 370,000 180,000 Tax Expense (36%) 432,000 432,000 Net Income 768,000 242,000 Tax Expense 432,000 Income Tax Payable Income Tax Expense 432,000 Income Tax Payable 370,000 Cash
Background image of page 6
432,000 370,000
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Warranty Payable 50,000 34,000 154,000 138,000 Note Payable 55,000 Start Date 6/1/2010 Interest Rate 6% Annual Principal Pmts 13,750 1. Initial Obligation Cash 55,000 Note Payable 55,000 2. Periodic Interest Interest Expense 275 Interest Payable 275 Current Liabilities: Note Payable - Current 13,750 LT Liabilities: Note Payable - LT 41,250
Background image of page 8
Sales 2,200,000 Estimated Warrenty % 7% Warranty Expense 154,000 Warranty Expense 154,000 Warranty Payable 154,000 Warranty Payable 50,000 Cash 50,000
Background image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 10
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 09/16/2011 for the course ACG 2021 taught by Professor Hornik during the Spring '08 term at University of Central Florida.

Page1 / 25

Ch8 - Cash Unearned Subscriptin Revenue Sales Tax Payable...

This preview shows document pages 1 - 10. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online