Comments
41 - 60 of 61 Comments Last updated Jul 26, 2014
debbie

Westborough, MA

#41 May 1, 2009
how would I credit/debit and adjusting entry for accoutns receivables that were not recorded?
Ashley

United States

#42 Sep 20, 2009
I'm not to sure on where I should record this journal entry at.

The board of directors voted to purchase 1,000 shares of its own stock from stockholder Dionne Schivone at $83 per share and issued check No. 1595 in payment. Stock repurchases are recored at cost. Rockford is purchasing these shares because Ms. Schivone had been a valuable employee.
ElizabethHamsa

Orlando, FL

#43 Sep 30, 2009
Man, sounds like profs aren't doing there job. I hated having to take my financial accounting course last year... it was really rough and I don't think I remembered much. I used a study aid, for when I had to start taking the intermediate class... cheap online course that has a free demo unit (for the curious)... it's called Gleim Financial Accounting Made Easy, and if I remember right, this is the web address to the page: https://www.gleim.com/accounting/fame... .

If anyone needs a refresher or a tutorial to help themselves pass their class, you should def check it out. It helped me at least, so it wasn't a giant waste of money either.:)
Roman

United States

#44 Oct 4, 2009
Nee help
6% bond issue on January 1, 2009
Faced amont600,000
Bonds of similar risk at 7%
Bonds mature December 31, 2012
Interest is paid semiannually on June 30 and December 31
Question
1) What will be reported in the balance sheet in december 31, 2009
2)What will be reported in the income statement by December 31, 2009
3)What will be the jurnal entry at Maturity December 31,2012
GILL

Toronto, Canada

#45 Oct 20, 2009
I have 2 adjusting entries (Dec. 31, 2008) for Clancy Inc. that I am confused with, i am hoping someone would be able to help me with it.
1. On November 1, 2006, Clancy issued 180 $1,000 bonds at par value. interest is paid semi annually on april 30 and october 31.
2. one of the company customers declared bankruptcy on december 30, 2008. its is now certain that the $2,700 the customer ows will never be collected. the fact has not been recorded.
vicvicjul

Granada Hills, CA

#46 Jan 21, 2010
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Yoland

Winnipeg, Canada

#47 Feb 15, 2010
Working in Simply Acconting can anyone tell me how to to apply a Despoit received from a customer against a Sales invoice? Just took over this work and when I try to clear the invoice with the deposit; it affects the bank.

In Accpac one can apply a payment to an invoice and there is no problem. Help!!!

Thank you,

Yoland yh2872@gmail.com
naya

Jeddah, Saudi Arabia

#49 May 14, 2010
solve paid in advance rent for 6 month to 3600$
ssjj

Kuwait, Kuwait

#52 Oct 8, 2010
Paid $5,000 rent for the building, one-half was for January rent, and one-half was for February rent.
what will the entries be ? plzzzz need help
xhaxha

Cainta, Philippines

#54 Nov 16, 2010
what should be done to the following scenario?
an invoice was recorded in the AP ledger and paid with the wrong currency. without knowing that it was successfully paid, a credit memo was created to offset the entry made.
now, there would be no matching item for the debit balance in the ledger.
im not sure if it can be reversed.
if not, what else are the possible solutions?
Thanks alot
Ms Rose

Champaign, IL

#55 Jun 29, 2011
outstanding $50,000, 9%,2 year not payable issued in July 2008. payment of $50,000 note,plus all accrued interest for the 2 year loan is due in full on June 30 2010
Katrina Brock

Saint Petersburg, FL

#56 Jul 13, 2011
How do you label accounting adjustments when rent has been paid in advance? For example, a tenant pays a company 5 months worth rent. At the end of Dec 2011 the earned Rent Revenue is 2 months = 4,350. Since cash is never included in an adjustment, how would I label the account??

Would it be??
Unearned Rent 4,350
Rent Revenue 4,350

I understand the next 3 months are put in Unearned Rent., but not sure how to label this.

Please help!
Nabila

Bangladesh

#57 Aug 24, 2011
stock is over cost by tk 1000 (adjusting entry)
Jacky

Clinton, NC

#58 Sep 20, 2011
Hi, I need help on an adjusting entry..."additions to the buildings costing $150,00 were completed June 30, 2013" the building balance is $247,600
theresa

Minneapolis, MN

#59 Jun 29, 2012
I am lost on adjusting entries how woud i record purchase office equipment on a 2 month 12 percent note six years life 116o salvage value stright line method for depreciation
lori

Brampton, Canada

#60 Aug 12, 2012
i need help in adjusting my allowance for doubtful accounts

unajust trial balance says

allowance for doubt full accounts is 4124936
there was one write off in the ammount OF $135800

I KNOW THE ACCOUNTS INVOLVED ARE
allowance for doubfull accounts and
bad debts account
but i need the dollar ammount to enter

thanks
noor

Halifax, Canada

#61 Sep 21, 2012
Branden wrote:
I have a bunch of adjusting entries I'd like to check.
1. Fees received in advance from clients $6,900.
2. Services performed for clients that were not recorded by December 31,$4,900.
3. Bad debt expense for the year is $1,430.
4. Insurance expired during the year $480.
5. Furniture and equipment is being depreciated at 12.5% per year.
6. Carlos Beltran gave the bank a 90-day, 10% note for $7,200 on December 1, 2007.
7. Rent of the building is $750 per month. The rent for 2007 has been paid, as has that for January 2008.
8. Office Salaries earned but unpaid December 31, 2007,$2,510.
i REALLY need the entry for # 7, but i'd like to check the rest if somebody has time enough to answer back.
THANKS!
--branden
how to record number 6
Josh

Agawam, MA

#62 Nov 25, 2012
Took out insurance policy for $4800. This is a 12 month policy that was paid in cash on the first month. What entries do i need to make?
Rasheed

Doha, Qatar

#63 Feb 27, 2013
Dear clear your question 1st
albert

United States

#64 Feb 28, 2013
please i need 30 accounting transaction, its journal, ledger, trial balance, income statement. please give me that all. i'm looking forward guys thank you

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