Homework Answers
| Transaction | General Journal | Debit | Credit |
| 2 | Cash | $48,000 | |
| Note payable | $48,000 | ||
| ( To record borrowings from bank) |
Cash will be debited since increase in assets is debited. Note payable will be credited since increase in liabilities is credited.
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Required information Business Sim Corp. (BSC) issued 1,000 common shares to Kelly in exchange for $11,000. BSC borrowed $32,000 from the bank, promising to repay it in two years. BSC paid $37,000 for computer equipment with check number 101 and signed a note for $4,000 due in six months. BSC received $550 of supplies purchased on account. BSC's loan contains a clause ("covenant") that requires BSC to maintain a ratio of current assets to current liabilities of at least 1.3....
Journal entry worksheet 2 3 Business Sim Corp. (BSC) issued 2,000 common shares to Kelly in exchange for $27,000. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
Journal entry worksheet < 1 2 BSC paid $53,000 for computer equipment with check number 101 and signed a note for $8,000 due in six months. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
Journal entry worksheet < 0 2 3 BSC received $1,350 of supplies purchased on account. Record the transaction. Note: Enter debits before credits. Transaction Gonoral Journal Dobit Credit Record entry Clear entry View general journal
Journal entry worksheet 4 BSC paid $46,000 for computer equipment with check number 101 and signed a note for $6,000 due in six months. Record the transaction. Note: Enter debits before credits. Credit Debit General Journal Transaction 46,000 Equipment 40,000 Cash 6 000 Notes Payable (short-term) View general jou Record entry Clear entry 46,000 Equipment 3 40,000 Cash 6,000 Notes Payable (short-term)
Journal entry worksheet 4 rescoronhe avment ofro ipe in the restrooms. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal Journal entry worksheet 4 Record the payment of $3,300 for the June electricity bill Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 4 Record the receipt of July electricity bill for $4,000 which will be paid in August. Note:...
Journal entry worksheet < 1 2 3 4 5 6 7 Purchased supplies for $350 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 7 Collected $5,600 cash on accounts receivable. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 3 4 5 6 7 Paid $1,450 cash in advance...
Journal entry worksheet 1 2 3 4 5 6 7 8 9 I established the fund by cashing a check from HHC for $280 made payable to me. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 of 2 6 7 8 9 Tom Canuck provided a $84 receipt for repairs to the club's computer, so I paid $84 cash to him. Record the transaction....
Journal entry worksheet Record the $2,100 rent paid for 3 months on January 1. Note: Enter debits before credits. General Journal Debit Credit Date Jan 31 . Record entry Clear entry Journal entry worksheet Record the revenue for 8 voice lessons that the company has provided. The company would receive $600 from customers for 10 voice lessons ($60 per lesson) Note: Enter debits before credits. Date General Journal Debit Credit Jan 31 Record entry Clear entry View general jou Record...
View transaction list Journal entry worksheet < 1 2 3 4 "Record Mesa Wholesaler's sale of merchandise 'as is' (with no returns) to Santa Fe Retailing with credit terms of 3/10, n/60 and an invoice price of $24,000. Note: Enter debits before credits. Transaction General Journal Debit Credit a-1 Record entry Clear entry View general journal < Required 1 Required 2 > < Prev 1 of 5 Next > Synthesis Synthesis Essa....pdf Synthesis Essay (1) MacBook Pro View transaction list...
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