Homework Answers
![Solution • Transcation General Journal Debit Credit 7000 7000 Cash Service Revenue [Being services provided for eash] - Insur](http://img.homeworklib.com/questions/683b8cc0-6f2d-11ea-9f4e-f59d3bb3c94b.png?x-oss-process=image/resize,w_560)
Add Answer to:
The following transactions occur for Cardinal Music Academy during the month of October a. Provide music...
The following transactions occur for Cardinal Music Academy during the month of October: a. Provide music...
The following transactions occur for Cardinal Music Academy
during the month of October:
a. Provide music lessons to students for $14,500 cash.
b. Purchase prepaid insurance to protect musical equipment over the
next year for $3,900 cash.
c. Purchase musical equipment for $17,500 cash.
d. Obtain a loan from a bank by signing a note for $25,000.
Record the transactions. The company uses the following
accounts: Cash, Prepaid Insurance, Equipment, Notes Payable, and
Service Revenue.
Do a journal entry worksheet...
The following transactions occur for Cardinal Music Academy during the month of October a. Provide music...
The following transactions occur for Cardinal Music Academy during the month of October a. Provide music lessons to students for $7,000 cash b. Purchase prepaid insurance to protect musical equipment over the next year for $3,000 cash c. Purchase musical equipment for $10,000 cash. d. Obtain a loan from a bank by signing a note for $10,000. Record the transactions. The company uses the following accounts: Cash, Prepaid Insurance, Equipment, Notis Payable, and Service Revenue View transaction list Journal entry...
The following transactions occur for Cardinal Music Academy during the month of October: 1. Provide music...
The following transactions occur for Cardinal Music Academy during the month of October: 1. Provide music lessons to students for $13,500 cash. 2. Purchase prepaid insurance to protect musical equipment over the next year for $3,780 cash. 3. Purchase musical equipment for $16,500 cash. 4. Obtain a loan from a bank by signing a note for $23,000. Record the transactions. The company uses the following accounts: Cash, Prepaid Insurance, Equipment, Notes Payable, and Service Revenue. (If no entry is required...
The following transactions occur for the Panther Detective Agency during the month of July: a. Purchase...
The following transactions occur for the Panther Detective Agency during the month of July: a. Purchase a truck and sign a note payable, $14,100. b. Purchase office supplies for cash, $510. c. Pay $710 in rent for the current month. Record the transactions. The company uses the following accounts: Cash, Supplies, Equipment (for the truck), Notes Payable, and Rent Expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction...
Jameson Corporation was organized on May 1. The following events occurred during the first month. Received...
Jameson Corporation was organized on May 1. The following events
occurred during the first month.
Received $71,000 cash from the five investors who organized
Jameson Corporation. Each investor received 109 shares of $10 par
value common stock.
Ordered store fixtures costing $14,000.
Borrowed $11,000 cash and signed a note due in two years.
Purchased $15,000 of equipment, paying $1,400 in cash and
signing a six-month note for the balance.
Lent $2,000 to an employee who signed a note to repay...
WireScape Co. engaged in the following transactions during the month of May: a. WireScape borrowed $15,000...
WireScape Co. engaged in the following transactions during the month of May: a. WireScape borrowed $15,000 from a bank, signing a note due in four years. b. WireScape loaned $6,500 to an affiliated company and accepted a note due in one year. c. WireScape issued 90 additional shares of common stock with a par value of $0.10/share. The shares were issued at a market price of $30/share. d. WireScape purchased $32,000 of equipment. WireScape paid $10,500 in cash for the...
Required information The following information applies to the questions displayed below.) The following transactions occur for...
Required information The following information applies to the questions displayed below.) The following transactions occur for the Wolfpack Shoe Company during the month of June: a. Provide services to customers for $21,000 and receive cash b. Purchase office supplies on account for $11,000. c. Pay $5,200 in salaries to employees for work performed during the month. 2. Record the transactions. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View...
Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted...
Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2021, appears below. December 31 is the company's fiscal year-end. Credits Debits $ 40,300 12,500 0 5,000 10, 200 108,000 50,000 Accounts Cash Accounts Receivable Interest Receivable Supplies Prepaid Rent Land Notes Receivable Accounts Payable Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Rent Expense Supplies Expense Utilities Expense Totals...
Bearcat Construction begins operations in March and has the following transactions. March 1 Issue common stock...
Bearcat Construction begins operations in March and has the following transactions. March 1 Issue common stock for $19,000. Mareh 5 Obtain $8,600 loan from the bank by signing a note. March 10 Purchase construction equipment for $23,000 cash. March 15 Purchase advertising for the current month for $1,000 cash. March 22 Provide construction services for $17,600 on account. March 27 Receive $12,600 cash on account from March 22 services. March 28 Paysalaries for the current month of $5,600. . View...
Prepare summary journal entries to record the following transactions for a company in its first month...
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $80,000. b. Direct materials used in production, $37,000. Indirect materials used in production, $12,000. c. Paid cash for factory payroll, $35,000. Of this total, $25,000 is for direct labor and $10,000 is for indirect labor. d. Paid cash for other actual overhead costs, $7,000. e. Applied overhead at the rate of 120% of direct labor cost....
The following transactions occur for Cardinal Music Academy
during the month of October:
a. Provide music lessons to students for $14,500 cash.
b. Purchase prepaid insurance to protect musical equipment over the
next year for $3,900 cash.
c. Purchase musical equipment for $17,500 cash.
d. Obtain a loan from a bank by signing a note for $25,000.
Record the transactions. The company uses the following
accounts: Cash, Prepaid Insurance, Equipment, Notes Payable, and
Service Revenue.
Do a journal entry worksheet...
The following transactions occur for Cardinal Music Academy during the month of October a. Provide music lessons to students for $7,000 cash b. Purchase prepaid insurance to protect musical equipment over the next year for $3,000 cash c. Purchase musical equipment for $10,000 cash. d. Obtain a loan from a bank by signing a note for $10,000. Record the transactions. The company uses the following accounts: Cash, Prepaid Insurance, Equipment, Notis Payable, and Service Revenue View transaction list Journal entry...
The following transactions occur for Cardinal Music Academy during the month of October: 1. Provide music lessons to students for $13,500 cash. 2. Purchase prepaid insurance to protect musical equipment over the next year for $3,780 cash. 3. Purchase musical equipment for $16,500 cash. 4. Obtain a loan from a bank by signing a note for $23,000. Record the transactions. The company uses the following accounts: Cash, Prepaid Insurance, Equipment, Notes Payable, and Service Revenue. (If no entry is required...
The following transactions occur for the Panther Detective Agency during the month of July: a. Purchase a truck and sign a note payable, $14,100. b. Purchase office supplies for cash, $510. c. Pay $710 in rent for the current month. Record the transactions. The company uses the following accounts: Cash, Supplies, Equipment (for the truck), Notes Payable, and Rent Expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction...
Jameson Corporation was organized on May 1. The following events
occurred during the first month.
Received $71,000 cash from the five investors who organized
Jameson Corporation. Each investor received 109 shares of $10 par
value common stock.
Ordered store fixtures costing $14,000.
Borrowed $11,000 cash and signed a note due in two years.
Purchased $15,000 of equipment, paying $1,400 in cash and
signing a six-month note for the balance.
Lent $2,000 to an employee who signed a note to repay...
WireScape Co. engaged in the following transactions during the month of May: a. WireScape borrowed $15,000 from a bank, signing a note due in four years. b. WireScape loaned $6,500 to an affiliated company and accepted a note due in one year. c. WireScape issued 90 additional shares of common stock with a par value of $0.10/share. The shares were issued at a market price of $30/share. d. WireScape purchased $32,000 of equipment. WireScape paid $10,500 in cash for the...
Required information The following information applies to the questions displayed below.) The following transactions occur for the Wolfpack Shoe Company during the month of June: a. Provide services to customers for $21,000 and receive cash b. Purchase office supplies on account for $11,000. c. Pay $5,200 in salaries to employees for work performed during the month. 2. Record the transactions. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View...
Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2021, appears below. December 31 is the company's fiscal year-end. Credits Debits $ 40,300 12,500 0 5,000 10, 200 108,000 50,000 Accounts Cash Accounts Receivable Interest Receivable Supplies Prepaid Rent Land Notes Receivable Accounts Payable Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Rent Expense Supplies Expense Utilities Expense Totals...
Bearcat Construction begins operations in March and has the following transactions. March 1 Issue common stock for $19,000. Mareh 5 Obtain $8,600 loan from the bank by signing a note. March 10 Purchase construction equipment for $23,000 cash. March 15 Purchase advertising for the current month for $1,000 cash. March 22 Provide construction services for $17,600 on account. March 27 Receive $12,600 cash on account from March 22 services. March 28 Paysalaries for the current month of $5,600. . View...
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $80,000. b. Direct materials used in production, $37,000. Indirect materials used in production, $12,000. c. Paid cash for factory payroll, $35,000. Of this total, $25,000 is for direct labor and $10,000 is for indirect labor. d. Paid cash for other actual overhead costs, $7,000. e. Applied overhead at the rate of 120% of direct labor cost....
Most questions answered within 3 hours.
-
At 1 bar, how much energy is required to heat 61.0 g of H2O(s)
at −12.0...
asked 12 minutes ago -
Find the mixed-strategy equilibrium to the Battle of the sexes
game in Figure 5.1 below
Hockey...
asked 14 minutes ago -
Use the following information to answer the next three
questions.
QUESTION 5
As of today, the...
asked 20 minutes ago -
Using the specific identification method: Date Units purchased
Cost per unit Ending inventory March 1 15...
asked 22 minutes ago -
PLEASE HELP, NO ONE IS ANSWERING MY QUESTION AND IT IS SUE TODAY
WORTH 20% OF...
asked 37 minutes ago -
α = 0.0007889 T, I = 2.9 A
Other Magnetic Fields: First, based on your
value...
asked 36 minutes ago -
This assignment is a continuation of the 2nd one. You as a HR
Manager, select an...
asked 39 minutes ago -
Hastings Entertainment has a beta of 0.64. If the market return
is expected to be 13.80...
asked 50 minutes ago -
9. Depository institutions are always:
a. illiquid
b. profitable
c. insolvent
d. all of the above...
asked 58 minutes ago -
Use AstroTurf Company's income statement below to answer the
following two questions. Answer these questions with...
asked 58 minutes ago -
How is a firm's task
environment different from its general environment? Provide
examples of both types...
asked 56 minutes ago -
What is one reason Innovators can adopt innovations so
early?
Group of answer choices
they are...
asked 58 minutes ago