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Accounting

 

The ads will run from September 1st through October 30th. The contract price is $10,000, with half due on the day the first ad runs and the remainder due March 1st.
             1/ 13 The company received notice a hearing was to be held on February 12th to determine if local ordinances are being violated by selling used CDs. You have been advised that the fine might be as high as $1,000 if the company is found in violation. On the other hand, your attorney feels there is no merit to the case, as your permits seem to be in order. .
             1/ 14 You decide the company has too much capacity at this time and sell the display rack purchased on January 7th for $5,000 on account.
             NenaCo. RUNNING THE BUSINESS.
             JOURNAL ENTRIES: PART -II.
             You are now running the company. .
             1/ 15 Because you are starting to feel a bit crowed around the store, the company decides to rent some additional space for the rest of January. The cost of the additional space is $3,000 cash. .
             1/ 16 As it would be nice to be able to keep track of what we sell, the company purchases a cash register for $6,000 on account.
             1/17 The Company places an ad in the local paper. The ad cost $600 and was paid in cash. The ad will run on Jan. 31St.
             1/ 18 Sales for the month to this point total $40,000. All but $5,000 was collected in cash. .
             1/ 19 Sales staff salaries of $4,500 were paid. This covers all salaries currently due.
             1/ 20 The company decided to invest $5,000 of excess cash into marketable securities to earn more interest. The new investment earns 10% per year. .
             1/ 21 The bill for the cash register purchased on the 16Th is paid.
             1/ 22 Cash from half the remaining sales of the 18Th is collected. .
             1/ 23 $3,000 of the marketable securities purchased on the 20Th are sold for $4,000 cash.
             1/ 24 Additional sales of $35,000 are made. $7,000 was on account. .
             1/ 25 Sales staff salaries of $6,000 are paid.
             1/ 26 The following expenses are paid in cash: a) Office Salaries $9,000.


Essays Related to Accounting

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2. Accounting

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3. Definition of Accounting

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8. Envrionmental Accounting

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9. Accounting

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