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1. pete parlor started business january 1,2010. on...

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1. pete parlor started business january 1,2010. on that day the company issued common stock in exchange for $45,000. prepare the journal entry for this transaction. 2.pete parlor started business january 1,2010. at the beginning of january, pete pd $3,400 for supplies. prepare the journal entry for this transaction. 3. pete parlor started business january 1,2010.during january pete sold watches costing the company a total of $63,000 to produce. prepare the journal entry for this transaction 4.pete parlor started business january 1,2010.during january,pete sold watches to customers for $70,000 cash. prepare the journal entry for this transaction. 5.pete parlor started business january 1,2010. during january, pete customers pd $24,000 for services that will not be performed untill february.prepare the journal entry for this transaction 6.pete parlor started business january 1,2010. during janaury, pete purchased supplies for $15,000. at the end of the month, pete takes inventory and finds out the remaining supplies are worth $5,000. prepare the adjusting journal entry to reflect this information. 7.pete parlor had a balance of $15,000 in unearned revenue on february 1st. at the end of february, the unearned revenue balance was $7,000. prepare the adjusting journal entry to reflect this information. 8.pete parlor started business january 1,2010.At the start of february, pete had salaries payable outstanding of $17,000. on february 4th,pete sent out paychecks to its employees valued at $20,000. prepare the journal entry for this transaction. 9.pete parlor started business january 1,20xx. during january, pete had earned revenues of $50,000. the customers pd 30 percent cash and the remaining amount on account. prepare the journal entry for this transaction 10.pete parlor started business january 1,20xx. during january, pete purchased suplies for $6,000. pete pd the supplier 75 percent in cash and the remaining on account.prepare the journal entry for this transaction. 11.pete parlor had a credit balance of $20,000 in its income summary account at the end of june. prepare the closing journal entry for closing the income summary account to retained earnings.,I am hopeful you can get it to me by 8pm... Thanks Michael...,Can you please send me the answers? Thanks,Michael, Thank you very much... I need to send you a few more and hope you can help me with them. All the best, Manny

 

Paper#11228 | Written in 18-Jul-2015

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