Answer:Because of his physical deformity, which prevents him from walking upright, the King nicknames him "Hop-Frog".
Answer:
a.
Cash $4,500 (debit)
Deferred Revenue $4,500 (credit)
b.
Prepaid Advertising $2,700 (debit)
Cash $2,700 (credit)
c.
Salaries Expense $8,000 (debit)
Salaries Accrued $8,000 (credit)
d.
J1
Cash $70,000 (debit)
Note Payable $70,000 (credit)
J2
Interest Expense $2,100 (debit)
Note Payable $2,100 (credit)
Explanation:
a.
Recognize Cash and Deferred Revenue
b.
Recognize Asset - Prepaid Advertising and De-recognize Cash
c.
Recognize Salaries Expense and Recognize Salaries Accrued Liability
d.
J1
Recognize Cash Asset and Recognize Liability - Note Payable
J2
Recognize Interest income accrued on the Note Payable during September to December.
Answer:
Cash Dr 10975
To Sales $10,000
To Sales Tax Payable $975 ($10,000 × 9.75%)
(Being the cash is recorded)
Explanation:
The journal entry is shown below;
Cash Dr 10975
To Sales $10,000
To Sales Tax Payable $975 ($10,000 × 9.75%)
(Being the cash is recorded)
For recording this we debited the cash as it increased the assets and credited the sales and sales tax payable as it also increased the revenue and liabilities
Answer:
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Explanation:
