Homework Answers
| Assets | = | Liabilities | + | Owner's Equity | |||||||||
| Cash | + | Accounts Receivable | + | Equipment | = | Accounts Payable | + | John Amos Capital | + | Revenues | - | Expenses | |
| 1 | 56,000 | + | + | = | + | 56,000 | + | - | |||||
| 2 | + | + | 20,000 | = | 20,000 | + | + | - | |||||
| 3 | 2,700 | + | + | = | + | + | 2,700 | - | |||||
| 4 | -4,200 | + | + | 4,200 | = | + | + | - | |||||
| 5 | + | 4,850 | + | = | + | + | 4,850 | - | |||||
| 6 | -4,250 | + | + | = | + | + | - | 4,250 | |||||
| 7 | 2,800 | - | 2,800 | + | = | + | + | - | |||||
| 8 | -11,400 | + | + | = | -11,400 | + | + | - | |||||
| Totals | $ 41,650 | + | $ 2,050 | + | $ 24,200 | = | $ 8,600 | + | $ 56,000 | + | $ 7,550 | - | $ 4,250 |
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1. John Amos started the business with a cash investment of $56,000. 2 Purchased equipment for...
TRANSACTIONS 1. John Amos started the business with a cash investment of $56,000. 2. Purchased equipment...
TRANSACTIONS 1. John Amos started the business with a cash investment of $56,000. 2. Purchased equipment for $20,000 on credit. 3. Performed services for $2,700 in cash. 4. Purchased additional equipment for $4,200 in cash. 5. Performed services for $4,850 on credit. 6. Paid salaries of $4,250 to employees. 7. Received $2,800 cash from charge account customers. 8. Paid $11,400 to a creditor on account. 1. John Amos started the business with a cash investment of $56,000 2. Purchased equipment...
The Copy Center had the transactions listed below during the month of June TRANSACTIONS 1. John...
The Copy Center had the transactions listed below during the month of June TRANSACTIONS 1. John Amos started the business with a cash investment of $53,000 2. Purchased equipment for $18,500 on credit. 3. Performed services for $2,400 in cash 4. Purchased additional equipment for $3,900 in cash 5. Performed services for $4,700 on credit. 6. Paid salaries of $4,100 to employees. 7. Received $2,500 cash from charge account customers 8. Paid $10,200 to a creditor on account Show how...
cise 0 le Copy Center had the transactions listed below during the month of June. RANSACTIONS...
cise 0 le Copy Center had the transactions listed below during the month of June. RANSACTIONS 1. John Amos started the business with a cash investment of $47.000. 2. Purchased equipment for $15,500 on credit. 3. Performed services for $3,400 in cash. 4. Purchased additional equipment for $3,300 in cash 5. Performed services for $4,400 on credit. 5. Paid salaries of $3,800 to employees. 7. Received $1,900 cash from charge account customers. 8. Paid $7,800 to a creditor on account....
Is this correct? The Copy Center had the transactions listed below during the month of June....
Is
this correct?
The Copy Center had the transactions listed below during the month of June. TRANSACTIONS 1. John Amos started the business with a cash investment of $45,000. 2 Purchased equipment for $14.500 on credit. 3. Performed services for $3,600 in cash. 4. Purchased additional equipment for $3,100 in cash. 5. Performed services for $4.300 on credit 6. Paid salaries of $3,700 to employees. 7. Received $1,700 cash from charge account customers. 8. Paid $7,000 to a creditor on...
Len John started his own consulting firm, John Consulting, on June 1, 2022. The trial balance...
Len John started his own consulting firm, John Consulting, on June 1, 2022. The trial balance at June 30 is as follows. JOHN CONSULTING Trial Balance June 30, 2022 Debit Credit Cash $6,850 Accounts Receivable 7,000 Supplies 1.997 Prepaid Insurance 2.880 Equipment 15.000 Accounts Payable $4.255 Unearned Service Revenue 5.200 Common Stock 21.997 Service Revenue 8.300 Salaries and Wages Expense 4000 Rent Expense 2,025 $39.752 $39.752 In addition to those accounts listed on the trial balance, the chart of accounts...
TRANSACTIONS 1 Owner invested $90,000 in the business 2 Purchased $26,700 supplies on account. 3. Purchased...
TRANSACTIONS 1 Owner invested $90,000 in the business 2 Purchased $26,700 supplies on account. 3. Purchased equipment for $21,000 cash. 4. Paid $6,000 for rent in advance). 5. Performed services for $7,800 cash. 6. Paid $2,160 for utilities 7. Performed services for $10,500 on account 8. Received $6,600 from charge account customers 9. Paid salaries of $4,500 to employees 10. Paid $6,000 to a creditor on account Indicate the impact of each of the transactions above on the fundamental accounting...
Problem 3-5A On November 1, 2019, the account balances of Schilling Equipment Repair were as follows....
Problem 3-5A On November 1, 2019, the account balances of Schilling Equipment Repair were as follows. Debits No. No. Credits Accumulated $ 2,400 154 Depreciation- Equipment $ 2,000 101 Cash Accounts Receivable Accounts Payable 112 4,250 201 2,600 Unearned Service 126 Supplies 1,800 209 1,200 Revenue Salaries and Wages Payable 153 Equipment 12,000 212 700 311 Common Stock 10,000 3,950 Retained Earnings 320 $20,450 $20,450 During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due...
Len John started his own consulting firm, John Consulting, on June 1,2022. The trial balance at...
Len John started his own consulting firm, John Consulting, on June 1,2022. The trial balance at June 30 is as follows. JOHN CONSULTING Trial Balance June 30, 2022 Debit Credit Cash $ 6,850 Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Ravenue 7.000 1997 2,890 15,000 $ 4,255 5,200 21.997 8,300 4000 2.025 $39.752 $39.752 Common Stock Service Revenue Salaries and Wages Expense Rent Expense In addition to those accounts listed on the trial balance, the chart of...
Patricia Johnson started her own consulting firm, Crane Consulting, on May 1, 2020. The following transactions...
Patricia Johnson started her own consulting firm, Crane Consulting, on May 1, 2020. The following transactions occurred during the month of May. May 1 2 3 5 9 12 15 Trixie invested $6,100 cash in the business. Paid $800 for office rent for the month. Purchased $600 of supplies on account. Paid $170 to advertise in the County News. Received $3,800 cash for services performed. Withdrew $1,000 cash for personal use. Performed $5,800 of services on account. Paid $2,800 for...
DATE TRANSACTIONS 2016 Sept. 1 Jewell Tucker invested $56,000 in cash to start the firm. 4...
DATE TRANSACTIONS 2016 Sept. 1 Jewell Tucker invested $56,000 in cash to start the firm. 4 Purchased office equipment for $6,100 on credit from Den, Inc., received Invoice 9823, payable in 30 days. 16 Purchased an automobile that will be used to visit clients, issued Check 1001 for $14,100 in full payment 20 Purchased supplies for $480; paid immediately with Check 1002. 23 Returned damaged supplies for a cash refund of $150. 30 Issued Check 1003 for $3,500 to Den,...
TRANSACTIONS 1. John Amos started the business with a cash investment of $56,000. 2. Purchased equipment for $20,000 on credit. 3. Performed services for $2,700 in cash. 4. Purchased additional equipment for $4,200 in cash. 5. Performed services for $4,850 on credit. 6. Paid salaries of $4,250 to employees. 7. Received $2,800 cash from charge account customers. 8. Paid $11,400 to a creditor on account. 1. John Amos started the business with a cash investment of $56,000 2. Purchased equipment...
The Copy Center had the transactions listed below during the month of June TRANSACTIONS 1. John Amos started the business with a cash investment of $53,000 2. Purchased equipment for $18,500 on credit. 3. Performed services for $2,400 in cash 4. Purchased additional equipment for $3,900 in cash 5. Performed services for $4,700 on credit. 6. Paid salaries of $4,100 to employees. 7. Received $2,500 cash from charge account customers 8. Paid $10,200 to a creditor on account Show how...
cise 0 le Copy Center had the transactions listed below during the month of June. RANSACTIONS 1. John Amos started the business with a cash investment of $47.000. 2. Purchased equipment for $15,500 on credit. 3. Performed services for $3,400 in cash. 4. Purchased additional equipment for $3,300 in cash 5. Performed services for $4,400 on credit. 5. Paid salaries of $3,800 to employees. 7. Received $1,900 cash from charge account customers. 8. Paid $7,800 to a creditor on account....
Is
this correct?
The Copy Center had the transactions listed below during the month of June. TRANSACTIONS 1. John Amos started the business with a cash investment of $45,000. 2 Purchased equipment for $14.500 on credit. 3. Performed services for $3,600 in cash. 4. Purchased additional equipment for $3,100 in cash. 5. Performed services for $4.300 on credit 6. Paid salaries of $3,700 to employees. 7. Received $1,700 cash from charge account customers. 8. Paid $7,000 to a creditor on...
Len John started his own consulting firm, John Consulting, on June 1, 2022. The trial balance at June 30 is as follows. JOHN CONSULTING Trial Balance June 30, 2022 Debit Credit Cash $6,850 Accounts Receivable 7,000 Supplies 1.997 Prepaid Insurance 2.880 Equipment 15.000 Accounts Payable $4.255 Unearned Service Revenue 5.200 Common Stock 21.997 Service Revenue 8.300 Salaries and Wages Expense 4000 Rent Expense 2,025 $39.752 $39.752 In addition to those accounts listed on the trial balance, the chart of accounts...
TRANSACTIONS 1 Owner invested $90,000 in the business 2 Purchased $26,700 supplies on account. 3. Purchased equipment for $21,000 cash. 4. Paid $6,000 for rent in advance). 5. Performed services for $7,800 cash. 6. Paid $2,160 for utilities 7. Performed services for $10,500 on account 8. Received $6,600 from charge account customers 9. Paid salaries of $4,500 to employees 10. Paid $6,000 to a creditor on account Indicate the impact of each of the transactions above on the fundamental accounting...
Problem 3-5A On November 1, 2019, the account balances of Schilling Equipment Repair were as follows. Debits No. No. Credits Accumulated $ 2,400 154 Depreciation- Equipment $ 2,000 101 Cash Accounts Receivable Accounts Payable 112 4,250 201 2,600 Unearned Service 126 Supplies 1,800 209 1,200 Revenue Salaries and Wages Payable 153 Equipment 12,000 212 700 311 Common Stock 10,000 3,950 Retained Earnings 320 $20,450 $20,450 During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due...
Len John started his own consulting firm, John Consulting, on June 1,2022. The trial balance at June 30 is as follows. JOHN CONSULTING Trial Balance June 30, 2022 Debit Credit Cash $ 6,850 Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Ravenue 7.000 1997 2,890 15,000 $ 4,255 5,200 21.997 8,300 4000 2.025 $39.752 $39.752 Common Stock Service Revenue Salaries and Wages Expense Rent Expense In addition to those accounts listed on the trial balance, the chart of...
Patricia Johnson started her own consulting firm, Crane Consulting, on May 1, 2020. The following transactions occurred during the month of May. May 1 2 3 5 9 12 15 Trixie invested $6,100 cash in the business. Paid $800 for office rent for the month. Purchased $600 of supplies on account. Paid $170 to advertise in the County News. Received $3,800 cash for services performed. Withdrew $1,000 cash for personal use. Performed $5,800 of services on account. Paid $2,800 for...
DATE TRANSACTIONS 2016 Sept. 1 Jewell Tucker invested $56,000 in cash to start the firm. 4 Purchased office equipment for $6,100 on credit from Den, Inc., received Invoice 9823, payable in 30 days. 16 Purchased an automobile that will be used to visit clients, issued Check 1001 for $14,100 in full payment 20 Purchased supplies for $480; paid immediately with Check 1002. 23 Returned damaged supplies for a cash refund of $150. 30 Issued Check 1003 for $3,500 to Den,...
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