Homework Answers
The entry would be
| Equipment | 6,999 | |
| Cash | 727 | |
| Accounts Payable | 6272 |
Option C is the answer
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Calculator Gently Laser Clinic purchased laser equipment for $6,999 and paid $727 down, with the remainder...
Calculator Gently Laser Clinic purchased laser equipment for $6,411 and paid $725 down, with the remainder...
Calculator Gently Laser Clinic purchased laser equipment for $6,411 and paid $725 down, with the remainder to be paid later. The correct entry would be $6,411 $5,686 $725 $725 $5,686 $6,411 Equipment Accounts Payable Cash Cash Accounts Payable Equipment Equipment Expense Accounts Payable Cash Equipment Cash Cash Equipment $6,411 $725 $5,686 $725 $725 $725 $725 Previou
Gently Laser Clinic purchased laser equipment for $4,044 and paid $653 down, with the remainder to...
Gently Laser Clinic purchased laser equipment for $4,044 and paid $653 down, with the remainder to be paid later. The correct entry would be a. Equipment$653 Cash$653 b. Cash$653 Accounts Payable$3,391 Equipment$4,044 c. Equipment Expense$4,044 Accounts Payable$653 Cash$3,391 d. Equipment$4,044 Accounts Payable$3,391 Cash$653
ny Laser CT purchased laser equipment for $0.991 and paid $862 down, with the remainder to...
ny Laser CT purchased laser equipment for $0.991 and paid $862 down, with the remainder to be paid later. The correct entry would be O Cash Equipment $862 $862 Equipment Expense $6,991 Accounts Payable Cash $862 $6,129 $862 Accounts Payable $6,129 Equipment $6,991 Equipment $862 Cash $862 Equipment $6.991 Accounts Payable 56,129 Cash $862 O Cash The unearned rent account has a balance of $41,458. IF $3,873 of the $41,458 is unearned at the end of the accounting period, the...
company ng 4,000 13. Prairie Clinic purchased X-ray equipment the remainder to be paid later. The...
company ng 4,000 13. Prairie Clinic purchased X-ray equipment the remainder to be paid later. The correct entry would be 10 000 paid 4.000 down, with A Equipment Cash 4,000 Cash Accounts Payable 4,000 6,000 Equipment C. Equipment Expense 10,000 Accounts Payable Cash 4,000 D. Equipment Accounts Payable 4.000 Cash 6,000 10,000 6,000 10,000 The inventory data for an item for November are: Nov. 1 4 10 17 30 Inventory Sold Purchased Sold Purchased 200 units at $19 100 units...
11. The classification and normal balance of the accounts payable account is an asset with a...
11. The classification and normal balance of the accounts payable account is an asset with a credit balance a liability with a credit balance owner's equity with a credit balance revenue with a credit balance 12. A credit balance in which of the following accounts would indicate a likely error? a. Fees Earned b. Salary Expense c. Janet James, Capital d. Accounts Payable 13. The process of initially recording a business transaction is called ...
10. The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have...
10. The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts Payable $1,500 Fees Earned $3,600 Accounts Receivable 1,800 Insurance Expense 1,300 Prepaid Insurance 2,000 Land 3,000 Cash 3,200 Wages Expense 1,400 Drawing 1,200 Capital 8,800 The total of all the assets is a. $10,000 b. $8,000 c. $9,700 d. $9,800 11. The classification and normal balance of the accounts payable account is an asset with a credit balance a liability with...
Renzi's Volleyball Gym purchased equipment for $1,300. It made a down payment of $500 with the...
Renzi's Volleyball Gym purchased equipment for $1,300. It made a down payment of $500 with the remainder on account. The journal entry to record this transaction is: 1,300 800 500 500 800 A. Supplies Cash Accounts Payable OB. Accounts Receivable Cash Equipment OC Cash Accounts Receivable OD. Equipment Accounts Payable Cash 1,300 800 1,300 800 500 The entry to record completing a financial lecture and immediately collecting payment from customers would be: 1,400 1,400 1,400 1,400 O A. Cash Accounts...
1. Paid $400 cash for advertisements run this past week. Account: Account: 2. Purchased supplies costing...
1.
Paid $400 cash for advertisements run this past week.
Account:
Account:
2.
Purchased supplies costing $2,000 on account.
Account:
Account:
3.
Paid wages to employees in cash, $2,500.
Account:
Account:
4.
Received cash of $7,000 from customers for services
rendered.
Account:
Account:
5.
The owner invested $25,000 cash in the business in exchange for
ownership interest.
Account:
Account:
6.
For this transaction, please list the all debits before any
credits, and when multiple debits, or credits, are
required, please...
1. Grayton Industries purchased supplies for $1,300. They paid $500 in cash and agreed to pay...
1. Grayton Industries purchased supplies for $1,300. They paid $500 in cash and agreed to pay the balance in 30 days. The journal entry to record this transaction would include a debit to an asset account for $1,300, a credit to cash account for $500. Which of the following would be the correct way to complete the recording of the transaction? a. Credit the Grayton, Capital account for $500. b. Debit the Grayton, Capital account for $500. c. Credit an...
Stockton Company Adjusted Trial Balance December 31 Cash 6,373 Accounts Receivable 2,824 Prepaid Expenses 727 Equipment...
Stockton Company Adjusted Trial Balance December 31 Cash 6,373 Accounts Receivable 2,824 Prepaid Expenses 727 Equipment 13,608 Accumulated Depreciation 4,676 Accounts Payable 1,412 Notes Payable 5,081 Common Stock 1,000 Retained Earnings 10,166 Dividends 872 Fees Earned 6,130 Wages Expense 2,642 Rent Expense 755 Utilities Expense 390 Depreciation Expense 182 Miscellaneous Expense 92 Totals 28,465 28,465 Determine the retained earnings ending balance. a.$11,166 b.$2,069 c.$11,363 d.$28,465
Calculator Gently Laser Clinic purchased laser equipment for $6,411 and paid $725 down, with the remainder to be paid later. The correct entry would be $6,411 $5,686 $725 $725 $5,686 $6,411 Equipment Accounts Payable Cash Cash Accounts Payable Equipment Equipment Expense Accounts Payable Cash Equipment Cash Cash Equipment $6,411 $725 $5,686 $725 $725 $725 $725 Previou
ny Laser CT purchased laser equipment for $0.991 and paid $862 down, with the remainder to be paid later. The correct entry would be O Cash Equipment $862 $862 Equipment Expense $6,991 Accounts Payable Cash $862 $6,129 $862 Accounts Payable $6,129 Equipment $6,991 Equipment $862 Cash $862 Equipment $6.991 Accounts Payable 56,129 Cash $862 O Cash The unearned rent account has a balance of $41,458. IF $3,873 of the $41,458 is unearned at the end of the accounting period, the...
company ng 4,000 13. Prairie Clinic purchased X-ray equipment the remainder to be paid later. The correct entry would be 10 000 paid 4.000 down, with A Equipment Cash 4,000 Cash Accounts Payable 4,000 6,000 Equipment C. Equipment Expense 10,000 Accounts Payable Cash 4,000 D. Equipment Accounts Payable 4.000 Cash 6,000 10,000 6,000 10,000 The inventory data for an item for November are: Nov. 1 4 10 17 30 Inventory Sold Purchased Sold Purchased 200 units at $19 100 units...
Renzi's Volleyball Gym purchased equipment for $1,300. It made a down payment of $500 with the remainder on account. The journal entry to record this transaction is: 1,300 800 500 500 800 A. Supplies Cash Accounts Payable OB. Accounts Receivable Cash Equipment OC Cash Accounts Receivable OD. Equipment Accounts Payable Cash 1,300 800 1,300 800 500 The entry to record completing a financial lecture and immediately collecting payment from customers would be: 1,400 1,400 1,400 1,400 O A. Cash Accounts...
1.
Paid $400 cash for advertisements run this past week.
Account:
Account:
2.
Purchased supplies costing $2,000 on account.
Account:
Account:
3.
Paid wages to employees in cash, $2,500.
Account:
Account:
4.
Received cash of $7,000 from customers for services
rendered.
Account:
Account:
5.
The owner invested $25,000 cash in the business in exchange for
ownership interest.
Account:
Account:
6.
For this transaction, please list the all debits before any
credits, and when multiple debits, or credits, are
required, please...
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