Scribd Logo
Upload

Welcome to Scribd!

  • On January 1 2015 The Ledger of Werth Company Contains: Unlock Answers Here Solutiondone - Online

    Uploaded by

    Amit Pandey
    16 views1 page
    On January 1, 2015, Werth Company's ledger contained accounts payable of $35,000, sales taxes payable of $5,000, and unearned service revenue of $12,000. During January, Werth Company borrowed $30,000 from a bank, sold merchandise for cash and on credit, performed and recorded services, paid sales taxes to the state, and recorded an adjusting entry for an outstanding note payable at the end of the month. The balance sheet at January 31, 2015 shows the current liabilities of accounts payable and the outstanding note payable.

    Original Description:

    upload

    Original Title

    On January 1 2015 the Ledger of Werth Company Contains

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    On January 1, 2015, Werth Company's ledger contained accounts payable of $35,000, sales taxes payable of $5,000, and unearned service revenue of $12,000. During January, Werth Company borrowed $30,000 from a bank, sold merchandise for cash and on credit, performed and recorded services, paid sales taxes to the state, and recorded an adjusting entry for an outstanding note payable at the end of the month. The balance sheet at January 31, 2015 shows the current liabilities of accounts payable and the outstanding note payable.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    16 views1 page

    On January 1 2015 The Ledger of Werth Company Contains: Unlock Answers Here Solutiondone - Online

    Uploaded by

    Amit Pandey
    On January 1, 2015, Werth Company's ledger contained accounts payable of $35,000, sales taxes payable of $5,000, and unearned service revenue of $12,000. During January, Werth Company borrowed $30,000 from a bank, sold merchandise for cash and on credit, performed and recorded services, paid sales taxes to the state, and recorded an adjusting entry for an outstanding note payable at the end of the month. The balance sheet at January 31, 2015 shows the current liabilities of accounts payable and the outstanding note payable.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    On January 1 2015 the ledger of Werth Company contains

    On January 1, 2015, the ledger of Werth Company contains the following liability
    accounts.Accounts Payable ....... $35,000Sales Taxes Payable ...... 5,000Unearned Service
    Revenue .... 12,000During January, the following selected transactions occurred.Jan. 1
    Borrowed $30,000 in cash from Platteville Bank on a 4-month, 6%, $30,000 note.5 Sold
    merchandise for cash totaling $11,130, which includes 6% sales taxes.12 Performed services
    for customers who had made advance payments of $8,000.(Credit Service Revenue.)14 Paid
    state treasurer’s department for sales taxes collected in December 2014, $5,000.20 Sold 750
    units of a new product on credit at $44 per unit, plus 6% sales tax.25 Sold merchandise for cash
    totaling $16,536, which includes 6% sales taxes.Instructions(a) Journalize the January
    transactions.(b) Journalize the adjusting entry at January 31 for the outstanding note
    payable.(c) Prepare the current liabilities section of the balance sheet at January 31, 2015.
    Assume no change in accounts payable.View Solution:
    On January 1 2015 the ledger of Werth Company contains
    SOLUTION-- http://solutiondone.online/downloads/on-january-1-2015-the-ledger-of-werth-
    company-contains/

    Unlock answers here solutiondone.online


    Powered by TCPDF (www.tcpdf.org)

    You might also like