Homework Answers
| The entry to record on the payment date is: |
| Debit accounts Payable $1,030 , credit cash $1,030 |
| Debit to accounts Payable and credit to cash indicates that both accounts payable and cash are being reduced. |
| Option C is correct |
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Clement Company paid an account payable related to a previous utility bill of $1,030. This transaction...
Question 38 12 points) The corporation received a utility bill; the bill will be paid next...
Question 38 12 points) The corporation received a utility bill; the bill will be paid next month. The corporation produces monthly financial statements. The journal entry to record this transaction is debit Utilities Expense; credit Accounts Receivable. debit Utilities Expense; credit Cash. debit Accounts Payable; credit Utilities Expense. debit Utilities Expense; credit Accounts Payable.
A company receives a utility bill each month for services received. The company's policy is to pay the utility bill...
A company receives a utility bill each month for services received. The company's policy is to pay the utility bill within 30 days of receipt. On December 31, 2021, the company receives a utility bill of $4,200 for the month of December and plans to pay the bill by January 30, 2022. What adjusting entry, if any, will the company record on December 31, 2021? Multiple Choice ) Debit Utilities Expense and credit Cash for $4,200 O Debit Utilities Expense...
Entity H received a cellphone bill that it paid immediately. The journal entry to record this...
Entity H received a cellphone bill that it paid immediately. The journal entry to record this transaction will include: a debit to Prepaid Utilities and a credit Cash a debit to Utility Expense and a credit to Accounts Payable a debit to Utility Expense and a credit to Cash a debit to Prepaid Utilities and a credit to Accounts Payable
Requirement 1. Record each transaction in the journal, using the following account titles: Cash; Accounts Receivable;...
Requirement 1. Record each transaction in the journal, using
the following account titles: Cash; Accounts Receivable; Office
Supplies; Prepaid Insurance; Land; Building; Furniture; Accounts
Payable; Utilities Payable; Notes Payable; Common Stock;
Dividends; Service Revenue; Salaries Expense; Rent Expense; and
Utilities Expense. Explanations are not required. (Record debits
first, then credits. Exclude explanations from journal
entries.)
Requirement 2. The following four-column accounts have been
opened: Cash, 101; Accounts Receivable, 111; Office Supplies,
121; Prepaid Insurance, 131; Land, 141; Building, 151;
Furniture,...
A business received the current month's utility bill for $2,125, and immediately paid it. Which journal...
A business received the current month's utility bill for $2,125, and immediately paid it. Which journal entry is prepared? A.Debit Utilities Payable for $2,125 and credit Cash for $2,125. B.Debit Utilities Expense for $2,125 and credit Cash for $2,125. C.Debit Operating Expense for $2,125 and credit Accounts Payable for $2,125. D.Debit Accounts Payable for $2,125 and credit Cash for $2,125.
1. Nick Bowman invested cash of $12,000 in the business. 2. Received and paid utility bill...
1. Nick Bowman invested cash of $12,000 in the business. 2. Received and paid utility bill of $125. 3. Bought $300 of supplies on account. 4. Sold services worth $2,500 to customers on account. 5. Received cash payment of $800 from credit customers. Cash Bal. Accounts Receivable Bal. Supplies Top 3 me 2 progressalalse Calculator Cash Bal. Accounts Receivable Bal. Supplies Accounts Payable Owner's Capital . .take AssignmentSessionLocator Beinprogress=false Calculator Accounts Receivable Bal. Supplies Accounts Payable Owner's Capital Utilities Expense...
5. Harper Sales Consultants completed the following transactions during the latter part of January 2 (Click...
5. Harper Sales Consultants completed the following transactions during the latter part of January 2 (Click the icon to view the transactions.) Journalize the transactions of Harper Sales Consultants. Include an explanation with each journal entry. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jan. 22: Performed services for customers on account, $7,500. Date Accounts and Explanation Debit Credit Jan. 22 (1) Jan. 30: Received cash on account from customers, $8,000....
5. Harper Sales Consultants completed the following transactions during the latter part of January 2 (Click...
5. Harper Sales Consultants completed the following transactions during the latter part of January 2 (Click the icon to view the transactions.) Journalize the transactions of Harper Sales Consultants. Include an explanation with each journal entry. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jan. 22: Performed services for customers on account, $7,500. Date Accounts and Explanation Debit Credit Jan. 22 (1) Jan. 30: Received cash on account from customers, $8,000....
9. Healthe Sales Consultants completed the following transactions during the latter part of January (Click the...
9. Healthe Sales Consultants completed the following transactions during the latter part of January (Click the icon to view the transactions.) Print Print Journalize the transactions of Healthe Sales Consultants. Include an explanation with each journal entry. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jan. 22: Performed services for customers on account, $7,000. Date Accounts and Explanation Debit Credit Jan. 22 (1) 123 Jan. 30: Received cash on account from...
When a company pays $1,900 dividends to its stockholders, the transaction should be recorded as: Multiple...
When a company pays $1,900 dividends to its stockholders, the transaction should be recorded as: Multiple Choice O Debit Dividends; Credit Cash. Debit Dividends, credit Accounts Payable. o o Debit Cash, credit Dividends. Debit Retained Earnings, credit Dividends.
Question 38 12 points) The corporation received a utility bill; the bill will be paid next month. The corporation produces monthly financial statements. The journal entry to record this transaction is debit Utilities Expense; credit Accounts Receivable. debit Utilities Expense; credit Cash. debit Accounts Payable; credit Utilities Expense. debit Utilities Expense; credit Accounts Payable.
A company receives a utility bill each month for services received. The company's policy is to pay the utility bill within 30 days of receipt. On December 31, 2021, the company receives a utility bill of $4,200 for the month of December and plans to pay the bill by January 30, 2022. What adjusting entry, if any, will the company record on December 31, 2021? Multiple Choice ) Debit Utilities Expense and credit Cash for $4,200 O Debit Utilities Expense...
Requirement 1. Record each transaction in the journal, using
the following account titles: Cash; Accounts Receivable; Office
Supplies; Prepaid Insurance; Land; Building; Furniture; Accounts
Payable; Utilities Payable; Notes Payable; Common Stock;
Dividends; Service Revenue; Salaries Expense; Rent Expense; and
Utilities Expense. Explanations are not required. (Record debits
first, then credits. Exclude explanations from journal
entries.)
Requirement 2. The following four-column accounts have been
opened: Cash, 101; Accounts Receivable, 111; Office Supplies,
121; Prepaid Insurance, 131; Land, 141; Building, 151;
Furniture,...
1. Nick Bowman invested cash of $12,000 in the business. 2. Received and paid utility bill of $125. 3. Bought $300 of supplies on account. 4. Sold services worth $2,500 to customers on account. 5. Received cash payment of $800 from credit customers. Cash Bal. Accounts Receivable Bal. Supplies Top 3 me 2 progressalalse Calculator Cash Bal. Accounts Receivable Bal. Supplies Accounts Payable Owner's Capital . .take AssignmentSessionLocator Beinprogress=false Calculator Accounts Receivable Bal. Supplies Accounts Payable Owner's Capital Utilities Expense...
5. Harper Sales Consultants completed the following transactions during the latter part of January 2 (Click the icon to view the transactions.) Journalize the transactions of Harper Sales Consultants. Include an explanation with each journal entry. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jan. 22: Performed services for customers on account, $7,500. Date Accounts and Explanation Debit Credit Jan. 22 (1) Jan. 30: Received cash on account from customers, $8,000....
5. Harper Sales Consultants completed the following transactions during the latter part of January 2 (Click the icon to view the transactions.) Journalize the transactions of Harper Sales Consultants. Include an explanation with each journal entry. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jan. 22: Performed services for customers on account, $7,500. Date Accounts and Explanation Debit Credit Jan. 22 (1) Jan. 30: Received cash on account from customers, $8,000....
9. Healthe Sales Consultants completed the following transactions during the latter part of January (Click the icon to view the transactions.) Print Print Journalize the transactions of Healthe Sales Consultants. Include an explanation with each journal entry. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jan. 22: Performed services for customers on account, $7,000. Date Accounts and Explanation Debit Credit Jan. 22 (1) 123 Jan. 30: Received cash on account from...
When a company pays $1,900 dividends to its stockholders, the transaction should be recorded as: Multiple Choice O Debit Dividends; Credit Cash. Debit Dividends, credit Accounts Payable. o o Debit Cash, credit Dividends. Debit Retained Earnings, credit Dividends.
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