Homework Answers
Service revenue earned(income) would be credited while receivables would increase(ie current assets) would increase as a result of this transaction and hence be debited.
Journal:
Feb 1 Accounts receivable ...Dr $2200
To Service Revenue $2200
Hence the correct option is B.
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Need answers for part d. Thank you.
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THIS IS THE QUESTION RIGHT HERE. journalize the entry I need these 10 entries journalized. Date...
THIS IS THE QUESTION RIGHT HERE. journalize the
entry
I need these 10 entries journalized.
Date Account Titles and Explanation Credit Debit 9880T Feb. 1 Cash Paid-in Capital in Excess of Par Value-Common St 4,180 V Common Stock 5700 (To record issuance of common stock in excess of par) Feb. 1 Cash 6,080 Notes Payable 6,080 (To record purchase of notes payable) Feb. 1 Equipment 6,860 Cash 6,860 (To record purchase of equipment) Feb. 1 Utilities Expense 170 Cash 170...
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QUESTION ANSWER Debit Credit Date Accounts On March 26, Jones Repair Service earned $1,700 of service revenue on account. Mar. 26 Cash 1,700 Service Revenue 1,700 The journal entry to record this transaction would be: Debit Credit Date Accounts Mar. 26 Service Revenue 1,700 Cash 1,700 Debit Credit Date Accounts Mar. 26 Service Revenue 1,700 Accounts Receivable 1,700 Accounts Debit Credit Date Mar. 26 Accounts Receivable 1,700 Service Revenue 1,700 I DON'T KNOW YET submit
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Need answers for part d. Thank you.
We were unable to transcribe this imageJournalize the February transactions credit account titles are automatically indented when amount is entered. Do not indent maกually. Ifo entry is required select journal entries in the order presented in the problem.) No Entry for the account titles and enter 0 for the amounts. Record Date Account Titles and Explanation Debit Feb. 1 Cash 13260 Common Stock Paid-in Capital in Excess of Par Value-Common St 7260 (To...
Barbara Jones opened Barb's Book Business on February 1. You have been hired to maintain the company's financial records. The following transactions occurred in February, the first month of operations a Received shareholders' cash contributions on February 1 totaling $24,000 to form the corporation, issued 1,000 shares of common stock b. Paid $3180 cash on February 2 for three months' rent for office space TIP For convenience, simply record the full amount of the payment as an asset (Prepaid Rent)....
THIS IS THE QUESTION RIGHT HERE. journalize the
entry
I need these 10 entries journalized.
Date Account Titles and Explanation Credit Debit 9880T Feb. 1 Cash Paid-in Capital in Excess of Par Value-Common St 4,180 V Common Stock 5700 (To record issuance of common stock in excess of par) Feb. 1 Cash 6,080 Notes Payable 6,080 (To record purchase of notes payable) Feb. 1 Equipment 6,860 Cash 6,860 (To record purchase of equipment) Feb. 1 Utilities Expense 170 Cash 170...
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a. Performed $28,500 of services on account. b. Collected $22.800 cash on accounts receivable. c. Poid $5,700 cash in advance for an insurance policy. d. Paid $980 on accounts payable. e. Recorded the adjusting entry to recognize 53.100 of insurance expense. f. Received $5.700 cash for services to be performed at a later date. g. Purchased land for $1.710 cash. h. Purchased supplies for $1.000 cash. Required Record each of the above transactions in general journal form and then show...
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