On September 1, 2015, Richard started a small business called "Ricky Rock Wrestling for Fun". "Ricky Rock" offers a party package designed for active kids, teen and adults that want to learn and practice wrestling activities for fun by learning how to perform headlocks, leg scissors and other tricks. The following transaction occurred during the first month of operations, please indicate how the adjusting journal entry (AJE) at the end of September should be recorded: September 24 Multiple Choice O Description Telephone bill for $150 was received for the month of September payment due October 5th O Dr. Phone Expense 150 and Cr: Phone Payable 150 None of the other journal entries are correct, it is another journal entry The transaction does not need an AJE Dr. Phone Expense 150 and Cr. Cash 150 Dr. Prepaid Phone 150 and Cr. Phone Expense 150 Amount $150

On September 1, 2015, Richard started a small business called "Ricky Rock Wrestling for Fun". "Ricky Rock" offers a party package designed for active kids, teen and adults that want to learn and practice wrestling activities for fun by learning how to perform headlocks, leg scissors and other tricks. The following transaction occurred during the first month of operations, please indicate how the adjusting journal entry (AJE) at the end of September should be recorded: September 24 Multiple Choice O Description Telephone bill for $150 was received for the month of September payment due October 5th O Dr. Phone Expense 150 and Cr: Phone Payable 150 None of the other journal entries are correct, it is another journal entry The transaction does not need an AJE Dr. Phone Expense 150 and Cr. Cash 150 Dr. Prepaid Phone 150 and Cr. Phone Expense 150 Amount $150

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Description: I need please help with this asap On September 1, 2015, Richard started a small business called "Ricky Rock Wrestling for Fun". "Ricky Rock" offers a party package designed for active kids, teen and adults that want to learn and practice wrestlingact

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter21: Accounting For Accruals, Deferrals, And Reversing Entries

Section21.1: Accruals

Problem 1WT

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On September 1, 2015, Richard started a small business called "Ricky Rock Wrestling for Fun". "Ricky Rock" offers a party package designed for active kids, teen and adults that want to learn and practice wrestling activities for fun by learning how to perform headlocks, leg scissors and other tricks. The following transaction occurred during the first month of operations, please indicate how the adjusting journal entry (AJE) at the end of September should be recorded: September 24 Description Telephone bill for $150 was received for the month of September payment due October 5th - Amount $ 150
On September 1, 2015, Richard started a small business called "Ricky Rock Wrestling for Fun". "Ricky Rock" offers a party package designed for active kids, teen and adults that want to learn and practice wrestling activities for fun by learning how to perform headlocks, leg scissors and other tricks. The following transaction occurred during the first month of operations, please indicate what's the effect on the accounting equation: September 1 Description Verbally agreed to sign a 12 month commercial insurance contract for any liability that might emerge from the activity. Multiple Choice Decrease assets and decrease liabilities Increase assets and increase Owner's equity Increase assets and increase liabilities Increase and decrease assets None of the other alternatives are correct Amount $600 per month for 1 year
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As part of the employment interview for an accounting job at Sound Design, you have been asked to answer the questions below, based on an invoice from one of Sound Design's vendors, Target Electronic Wholesalers. Invoice Table TARGET ELECTRONIC WHOLESALERS 1979 N.E. 123 Street Jacksonville, Florida 32204 Sold to: Sound Design 480 McDowell Rd. Phoenix, AZ 85008 Invoice Date: June 28, 20XX Terms of Sale: 3/15, n/30 ROG Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $292.50 = Blu-Ray Players Home Theater Systems 511CX 25 x $134.28 = 6146M 40 x $654.12 = 1031A LCD TVs 20 x $597.00% = Merchandise Total Insurance + Shipping $1,350.00 Invoice Total (a) Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $). Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $292.50 $ 14,625 511CX Blu-Ray Players 25 x $134.28 $3,357 Home Theater Systems $ 26,165 6146M 40 x…
As part of the employment interview for an accounting job at Sound Design, you have been asked to answer the questions below, based on an invoice from one of Sound Design's vendors, Target Electronic Wholesalers. Invoice Table TARGET ELECTRONIC WHOLESALERS 1979 N.E. 123 Street Jacksonville, Florida 32204 Sold to: Sound Design 480 McDowell Rd. Phoenix, AZ 85008 Invoice Date: June 28, 20XX Terms of Sale: 3/15, n/30 ROG Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $292.50 = 511CX Blu-Ray Players 25 x $134.28 = 6146M Home Theater Systems 40 x $654.12 = 1031A LCD TVs 20 x $597.00 = Merchandise Total Insurance + Shipping $1,350.00 Invoice Total (a) Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $). Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $292.50 $ 511CX Blu-Ray Players 25 x $134.28 6146M Home Theater Systems 40 x $654.12 $ 1031A LCD TVs 20 x…