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Assume the following T-accounts reflect Belle Co.'s general ledger and its first seven transactions a through...
Fill in each of the following T-accounts for Belle Co.'s seven transactions listed here. The T-accounts...
Fill in each of the following T-accounts for Belle Co.'s seven transactions listed here. The T-accounts represent Belle Co.'s general ledger. Code each entry with transaction number 1 through 7 (in order) for reference. 1. D. Belle created a new business and invested $5,600 cash, $6,000 of equipment, and $11,100 in web servers in exchange for common stock. 2. The company paid $4,600 cash in advance for prepaid insurance coverage. 3. The company purchased $800 of supplies on account. 4....
Fill in each of the following T-accounts for Belle Co.’s seventransactions listed here. The T-accounts...
Fill in each of the following T-accounts for Belle Co.’s seven
transactions listed here. The T-accounts represent Belle Co.’s
general ledger. Code each entry with transaction number 1 through 7
(in order) for reference.D. Belle created a new business and invested $6,000 cash,
$7,600 of equipment, and $12,000 in web servers in exchange for
common stock.The company paid $4,800 cash in advance for prepaid insurance
coverage.The company purchased $900 of supplies on account.The company paid $800 cash for selling expenses.The...
need help on this 1. D. Belle created a new business and invested $6,000 cash. $7600...
need help on this
1. D. Belle created a new business and invested $6,000 cash. $7600 of equipment, and $12,000 in web servers in exchange for common stock 2. The company paid $4,800 cash in advance for prepaid Insurance coverage. 3. The company purchased $900 of supplies on account. 4. The company paid $800 cash for selling expenses. 5. The company received $4,500 cash for services provided. 6. The company paid $900 cash toward accounts payable 7. The company paid...
CHART OF ACCOUNTS Thomson Co. General Ledger ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable...
CHART OF ACCOUNTS
Thomson Co.
General Ledger
ASSETS
110
Cash
111
Petty Cash
121
Accounts Receivable
122
Allowance for Doubtful Accounts
126
Interest Receivable
127
Notes Receivable
131
Merchandise Inventory
141
Office Supplies
142
Store Supplies
151
Prepaid Insurance
191
Land
192
Store Equipment
193
Accumulated Depreciation-Store Equipment
194
Office Equipment
195
Accumulated Depreciation-Office Equipment
LIABILITIES
210
Accounts Payable
221
Salaries Payable
231
Sales Tax Payable
232
Interest Payable
241
Notes Payable
251
Bonds Payable
252
Discount on Bonds Payable...
Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of...
Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of a new company called Pose-for-Pics Aug. 1 Madison Harris, the owner, invested $7,400 cash and $34,400 of photography equipment in the company in exchange for common stock. 2 The company paid $3,000 cash for an insurance policy covering the next 24 months 5 The company purchased office supplies for $970 cash. 20 The company received $4,231 cash in photography fees earned. 31 The company...
Karla Tanner opened a Web consulting business called Linkworks and completed the following transactions in its first month of operations.
April1Tanner invested $145,000 cash along with office equipment valued at $34,800 in the company in exchange for common stock.2The company prepaid $7,200 cash for 12 months’ rent for office space. Hint: Debit Prepaid Rent for $7,200.3The company made credit purchases for $17,400 in office equipment and $3,480 in office supplies. Payment is due within 10 days.6The company completed services for a client and immediately received $2,000 cash.9The company completed a $11,600 project for a client, who must pay within 30 days.13The company...
Make T-accounts for the following accounts that appear in the general ledger of The Dog &...
Make T-accounts for the following accounts that appear in the
general ledger of The Dog & Cat Hospital, owned by Kate Miller,
a veterinarian: Cash; Accounts Receivable; Supplies; Office
Equipment; Accounts Payable; Common Stock; Dividends; Professional
Fees Earned; Salaries Expense; and Rent Expense.
Using the accounting equation, record each of the transactions
in columnar format. Prepare journal entries and record the
following December transactions in the T-accounts and key all
entries with the number identifying the transaction. Finally
determine the...
Post the transactions to the T-accounts. Use the transaction dates as posting references. Use a "Bal"...
Post the transactions to the T-accounts. Use the transaction dates as posting references. Use a "Bal" posting reference to show the ending balance of each account. For any accounts with a zero balance, select the "Bal" posting reference and enter a "0" on the normal side of the account. Review the journal entries you prepared above Cash Accounts Payable Service Revenue Salaries Payable Accounts Receivable Unearned Revenue Salaries Expense Office Supplies Common Stock Depreciation Expense Truck Prepaid Insurance Retained Earnings...
Acc 300 Practice set 1 Required: Journalize the transactions Post to ledger (T accounts) Prepare Trial...
Acc 300 Practice set 1 Required: Journalize the transactions Post to ledger (T accounts) Prepare Trial Balance Journalize the adjusting entries Post to the ledger Prepare Adjusted Trial Balance Prepare the four financial statements Net income equals $11,583 Purchased inventory on account $23,000 Sales on account $35,000 Cash Sales $22,000 Paid salaries $6,000 Purchased supplies on account for $500 Cash collected from customers $19,000 Purchased inventory for cash $13,000 Wrote off customer account as uncollectable $300 Made payment on account...
Transactions Innovative Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable, Supplies, Office...
Transactions Innovative Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, Common Stock, Retained Earnings, Dividends, Fees Eamed, Rent Expense, Advertising Expense, Utilities Expense, Miscellaneous Expense. Journalize the following selected transactions for October 20Y2 in a two-column journal. Journal entry explanations may be omitted. If an amount box does not require an entry, leave it blank Oct. 1. Paid rent for the month, $2,500. 4. Pald advertising expense, $1,000 5. Paid cash...
Fill in each of the following T-accounts for Belle Co.'s seven transactions listed here. The T-accounts represent Belle Co.'s general ledger. Code each entry with transaction number 1 through 7 (in order) for reference. 1. D. Belle created a new business and invested $5,600 cash, $6,000 of equipment, and $11,100 in web servers in exchange for common stock. 2. The company paid $4,600 cash in advance for prepaid insurance coverage. 3. The company purchased $800 of supplies on account. 4....
Fill in each of the following T-accounts for Belle Co.’s seven
transactions listed here. The T-accounts represent Belle Co.’s
general ledger. Code each entry with transaction number 1 through 7
(in order) for reference.D. Belle created a new business and invested $6,000 cash,
$7,600 of equipment, and $12,000 in web servers in exchange for
common stock.The company paid $4,800 cash in advance for prepaid insurance
coverage.The company purchased $900 of supplies on account.The company paid $800 cash for selling expenses.The...
need help on this
1. D. Belle created a new business and invested $6,000 cash. $7600 of equipment, and $12,000 in web servers in exchange for common stock 2. The company paid $4,800 cash in advance for prepaid Insurance coverage. 3. The company purchased $900 of supplies on account. 4. The company paid $800 cash for selling expenses. 5. The company received $4,500 cash for services provided. 6. The company paid $900 cash toward accounts payable 7. The company paid...
CHART OF ACCOUNTS
Thomson Co.
General Ledger
ASSETS
110
Cash
111
Petty Cash
121
Accounts Receivable
122
Allowance for Doubtful Accounts
126
Interest Receivable
127
Notes Receivable
131
Merchandise Inventory
141
Office Supplies
142
Store Supplies
151
Prepaid Insurance
191
Land
192
Store Equipment
193
Accumulated Depreciation-Store Equipment
194
Office Equipment
195
Accumulated Depreciation-Office Equipment
LIABILITIES
210
Accounts Payable
221
Salaries Payable
231
Sales Tax Payable
232
Interest Payable
241
Notes Payable
251
Bonds Payable
252
Discount on Bonds Payable...
Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of a new company called Pose-for-Pics Aug. 1 Madison Harris, the owner, invested $7,400 cash and $34,400 of photography equipment in the company in exchange for common stock. 2 The company paid $3,000 cash for an insurance policy covering the next 24 months 5 The company purchased office supplies for $970 cash. 20 The company received $4,231 cash in photography fees earned. 31 The company...
Make T-accounts for the following accounts that appear in the
general ledger of The Dog & Cat Hospital, owned by Kate Miller,
a veterinarian: Cash; Accounts Receivable; Supplies; Office
Equipment; Accounts Payable; Common Stock; Dividends; Professional
Fees Earned; Salaries Expense; and Rent Expense.
Using the accounting equation, record each of the transactions
in columnar format. Prepare journal entries and record the
following December transactions in the T-accounts and key all
entries with the number identifying the transaction. Finally
determine the...
Post the transactions to the T-accounts. Use the transaction dates as posting references. Use a "Bal" posting reference to show the ending balance of each account. For any accounts with a zero balance, select the "Bal" posting reference and enter a "0" on the normal side of the account. Review the journal entries you prepared above Cash Accounts Payable Service Revenue Salaries Payable Accounts Receivable Unearned Revenue Salaries Expense Office Supplies Common Stock Depreciation Expense Truck Prepaid Insurance Retained Earnings...
Transactions Innovative Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, Common Stock, Retained Earnings, Dividends, Fees Eamed, Rent Expense, Advertising Expense, Utilities Expense, Miscellaneous Expense. Journalize the following selected transactions for October 20Y2 in a two-column journal. Journal entry explanations may be omitted. If an amount box does not require an entry, leave it blank Oct. 1. Paid rent for the month, $2,500. 4. Pald advertising expense, $1,000 5. Paid cash...
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