Exercise 08.01 – Reporting Method Matching
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Match the reporting method for each item.
Match the reporting method for each item.
Gives an amount borrowed on a loan and an interest rate. Asks for 3 journal entries.
Your numbers will vary.
Record the issuance of note, the adjustment for note, payment of the note.
Your numbers will vary.
Record the acceptance of note, the appropriate adjustment for the note, and the receipt of cash.
Your numbers will vary.
Determine the amount of interest expense that should be recorded.
Your numbers will vary.
Record the appropriate entries for the notes payable and interest.
Your numbers will vary.
Compute the total salary expense, withholdings, direct deposit of payroll, total payroll tax expense.
Your numbers will vary.
Record salary expense, withholdings, salaries payable, fringe benefits, and employer payroll taxes.
Your numbers will vary.
Record salaries expense and tax expenses.
Your numbers will vary.
Record the advance collection, the revenue recognized, and what is the ending balance in the Deferred Revenue account.
Your numbers will vary.