Harrisonburg Lawn Company does mowing and landscaping. You are preparing journal entries for the year...
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Accounting
Harrisonburg Lawn Company does mowing and landscaping. You are preparing journal entries for the year 2021.
1. In 2020 a customer had paid $ 1,500 in advance for a special job - grading his yard and planting grass. That service was performed in 2021. The journal entry to record the completion of this service in 2021 is:
2. The company billed customers for monthly services totaling $ 235,000. The journal entry to record the completion of these services in 2021 is:
3. Customers paying within 15 days are given a 2% discount. A total of $ 237,000 was collected from customers after deducting discounts of $ 2,500. The journal entry to record this event in 2021 is:
4. After collection efforts proved unsuccessful, a customer account was written-off in the amount of $ 1,700. The journal entry to record the write-off in 2021 is:
5. The monthly bank reconciliation revealed the following information: $ 100 Customer paid by direct deposit. (This customer owed us this amount for services performed in December of 2020) The journal entry to record this event in 2021 is:
6. The monthly bank reconciliation revealed the following information: $ 1,800 Customer check returned for non-sufficient funds. (there was no bank charge)The journal entry to record this event in 2021 is:
7. Supplies in the amount of $ 32,000 were purchased on account. The journal entry to record this event in 2021 is:
8. The company paid the balance due on the supplies within 10 days to take advantage of a 2% discount. The journal entry to record the payment in 2021 is:
9. Equipment with a cost of $ 27,000 was sold for $ 8,500 cash. At the time of sale, its accumulated depreciation totaled $ 16,000. The journal entry to record this event in 2021 is:
10. On 11/30/2021 the company borrowed $ 24,000 on a 9% note. The journal entry to record this event in 2021 is:
11. The money from the bank was used to pay for a new truck, paying $ 24,000. The journal entry to record this event in 2021 is:
12. The company paid $ 500 to have the company logo painted on the sides of the new truck. The journal entry to record this event in 2021 is:
13. On December 31, 2021 the company paid $ 180 of interest on the note payable. This amount was paid to the bank. The journal entry to record this event in 2021 is:
14. Depreciation on the equipment totaled $4,300 for the year. The journal entry to record this event in 2021 is:
15. The company began the year with supplies of $12,000. During the year the company purchased an additional $31,360. If there are $8,500 of supplies still remaining at the end
of the year, what is the amount of supplies that were used? The amount of supplies used during the year is [amount3] The journal entry to record the supplies used in 2021 is:
16. The company began the year with $ 7,500 in the Allowance for Uncollectible Accounts. During the year a customer account of $1,700 was written off as uncollectible. At the end of the year, the company estimates that its Allowance for Uncollectible Accounts should be $ 12,000. How much does the company need to record as Uncollectible Accounts Expense for 2021? The amount of uncollectible accounts expense for 2021 should be [amount3] The journal entry to record the uncollectible accounts expense in 2021 is:
17. The company began the year with wages payable of $600. During the year the company paid wages to its employees totaling $ 125,000. The journal entry to record this event in 2021 is:
18. Land with a cost of $ 107,000 was sold for $ 118,500 cash. The journal entry to record this event in 2021 is:
19. On April 1st, the company paid in advance for 12 months of newspaper advertising in advance: $ 1200.The journal entry to record this event on April 1st, 2021 is:
20. On April 1st, the company paid in advance for 12 months of newspaper advertising in advance: $ 1200. At December 31st, only 3 months ($300) of the advertising remained. The journal entry to record this event on December 31st, 2021 is:
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