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Tag: ACCT 211 Connect Homework

Liberty ACCT 211 Connect Homework Chapter 4 Problems Answers Complete Solutions

Liberty ACCT 211 Connect Homework Chapter 4 Problems Answers Complete Solutions Just put your values given in Excel and automatically provide answers for you! Question 1 Prepare journal entries to record the following merchandising transactions of Cabela’s, which uses the perpetual inventory system and the gross method. (Hint: It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable—Boden.) Question 2 Prepare journal entries to record the following merchandising transactions of Lowe’s, which uses the perpetual inventory system and the gross method. (Hint: It will help to identify each receivable and

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Liberty ACCT 211 Connect Homework Chapter 4 Exercises Answers Complete Solutions

Liberty ACCT 211 Connect Homework Chapter 4 Exercises Answers Complete Solutions Just put your values given in Excel and automatically provide answers for you! Allied Merchandisers was organized on May 1. Macy Co. is a major customer (buyer) of Allied (seller) products. Allied made its first and only purchase of inventory for the period on May 3 for 3,000 units at a price of $7 cash per unit (for a total cost of $21,000). Allied sold 1,500 of the units in inventory for $11 per unit (invoice total: $16,500) to Macy Co. under credit terms 2/10, n/60. The goods cost

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Liberty ACCT 211 Connect Homework Chapter 3 Problems Answers Complete Solutions

Liberty ACCT 211 Connect Homework Chapter 3 Problems Answers Complete Solutions Just put your values given in Excel and automatically provide answers for you! Question 1 Arnez Company’s annual accounting period ends on December 31, 2017. The following information concerns the adjusting entries to be recorded as of that date. The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years.) 1. Use the information to prepare adjusting entries as

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Liberty ACCT 211 Connect Homework Chapter 3 Exercises Answers Complete Solutions

Liberty ACCT 211 Connect Homework Chapter 3 Exercises Answers Complete Solutions Just put your values given in Excel and automatically provide answers for you! Question 1 a. Depreciation on the company’s equipment for 2017 is computed to be $17,000. b. The Prepaid Insurance account had a $6,000 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. An analysis of the company’s insurance policies showed that $1,430 of unexpired insurance coverage remains. c. The Office Supplies account had a $280 debit balance on December 31, 2016; and $2,680 of office supplies were purchased during the

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ACCT 211 Connect Homework Chapter 2 problems Liberty University answers complete solutions

ACCT 211 Connect Homework Chapter 2 problems Liberty University answers complete solutions Just put your values given in Excel and automatically provide answers for you! Question 1 Karla Tanner opens a Web consulting business called Linkworks and completes the following transactions in its first month of operations. 1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); Common Stock (307); Dividends (319); Services Revenue (403); and Utilities Expense (690). 2. Post the journal entries from part 1

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Liberty ACCT 211 Connect Homework Chapter 2 Exercises Answers Complete Solutions

Liberty ACCT 211 Connect Homework Chapter 2 Exercises Answers Complete Solutions Just put your values given in Excel and automatically provide answers for you! Question 1 Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $11,000 cash and $47,300 of photography equipment in the company in exchange for common stock. 2 The company paid $3,600 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $2,090 cash. 20 The company received $2,750 cash in photography fees earned. 31 The company paid $866 cash for August

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Liberty ACCT 211 Connect Homework Chapter 12 Exercises Answers Complete Solutions

Liberty ACCT 211 Connect Homework Chapter 12 Exercises Answers Complete Solutions Just put your values given in Excel and automatically provide answers for you! Question 1 Hampton Company reports the following information for its recent calendar year. Prepare the operating activities section of the statement of cash flows for Hampton Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Question 2 Arundel Company disclosed the following information for its recent calendar year. 1. Prepare the operating activities section of the statement of cash flows using the indirect method. (Any losses or amounts to

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Liberty ACCT 211 Connect Homework Chapter 11 Problems Answers Complete Solutions

Liberty ACCT 211 Connect Homework Chapter 11 Problems Answers Complete Solutions Just put your values given in Excel and automatically provide answers for you! Question 1 Kinkaid Co. is incorporated at the beginning of this year and engages in a number of transactions. The following journal entries impacted its stockholders’ equity during its first year of operations. 2. How many shares of common stock are outstanding at year-end? 3. What is the amount of minimum legal capital (based on par value) at year-end? 4. What is the total paid-in capital at year-end? 5. What is the book value per share

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Liberty ACCT 211 Connect Homework Chapter 11 Exercises Answers Complete Solutions

Liberty ACCT 211 Connect Homework Chapter 11 Exercises Answers Complete Solutions Just put your values given in Excel and automatically provide answers for you! Question 1 Rodriguez Corporation issues 10,000 shares of its common stock for $203,300 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. Question 2 Prepare journal entries to record the following four separate issuances of stock. Question 3 Sudoku Company issues 30,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $230,000 and the building at $379,000.

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Liberty ACCT 211 Connect Homework Chapter 10 Problems Answers Complete Solutions

Liberty ACCT 211 Connect Homework Chapter 10 Problems Answers Complete Solutions Just put your values given in Excel and automatically provide answers for you! Question 1 Hartford Research issues bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. The bonds have a $40,000 par value and an annual contract rate of 10%, and they mature in 10 years. Consider each of the following three separate situations. (a) Complete the below table to determine the bonds’ issue price on January 1, 2017. (b) Prepare the journal entry to record their issuance. (a) Complete the below

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