Please solve by JUST using the accounts that are affected by and the format as mentioned in the example below
FOR EXAMPLE:
DATE - ACCOUNTS AFFECTED - INCREASE/DECREASE - DEBIT/CREDIT
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Please solve by JUST using the accounts that are affected by and
the format as mentioned...
Date Accounts that are affected Category (A, L, OE, R, E) Increase OR Decrease DEBIT OR...
Date Accounts that are affected Category (A, L, OE, R, E) Increase OR Decrease DEBIT OR CREDIT Exercise 1 Based on the transactions given below, complete the table that follows: 1 Jan Imran invested AED 12,000 cash and some office equipment worth AED 10,000 into his new business. 2 Jan Purchased Office Supplies for cash AED 3,000. 3 Jan Purchased AED 12,000 worth of office equipment on credit. 4 Jan Paid insurance on the office equipment at AED 200 per...
Hatchett Fabrications, Inc. began their operations on January 1, 2019. Prepare the journal entries to record...
Hatchett Fabrications, Inc. began their operations on January 1, 2019. Prepare the journal entries to record the transactions below. Use the designated space in the Solution Packet. (20 points) 1-Jan M. Hatchett, the owner, invested $75,000 in cash along with equipment valued at $50,000 in the company. 2-Jan The company completed a project for a customer and immediately received $12,000 in cash. 4-Jan The company bought $5,000 in office supplies on credit. 7-Jan The company paid $6,000 in cash for...
Please solve question 2 10 MUMS Dr. McMuffin has a medical clinic formed as a corporation...
Please solve question 2
10 MUMS Dr. McMuffin has a medical clinic formed as a corporation that provides specialty care services to patients. The balances in the accounts as of January 1, 2019 are as follows: Cash 68,000 122,000 71,200 Accounts Receivable Office Supplies Building Land Office Fixtures and Equipment Medical Instruments Accounts Payable 47.000 Notes Payable 44,000 Contributed Capital 6,200 Retained Earnings 87.000 Patient Service Revenue 51,000 Income Tax Expense 28,000 Compensation Expense 40,000 Insurance Expense 42,000 Utilities Expense...
Were using the Purchases accounts for this problem, so no merchandise inventory account. Need the journal...
Were using the Purchases accounts for this problem, so no
merchandise inventory account. Need the journal entries.
DATE TRANSACTIONS 2016 Jan. 1 William Evans started Evans Distributors with an investment of $49,000. He also invested personal business supplies worth $1,000. Purchased merchandise for cash, $10,500, Check 100. Sold merchandise on account to Chu Corporation, $750, terms 2/10, 1/30, Invoice 1001. Purchased merchandise on account from Whitson Company, $1,800, terms 1/10, n/30, Invoice 1125. Received and paid freight charges related to...
Please show T-Accounts as well. JOURNAL ENTRIES -- Prepare the journal entries for the following activities. (5 poin...
Please show T-Accounts as well.
JOURNAL ENTRIES -- Prepare the journal entries for the following activities. (5 points each) Sold office equipment for $700. The equipment originally cost $2,000 and has accumulated depreciation of $1,500. Sold merchandise on account for $2,000. Cost of the merchandise was $1,200. 3. Received advance payment of $3,000 for services to be provided next month. Purchased new office equipment costing $4,000 by paying $1,500 in cash and signing a note for the balance. Received payment...
Please try to keep the same format! Problem 7-04A Selected accounts from the chart of accounts...
Please try to keep the same format!
Problem 7-04A Selected accounts from the chart of accounts of Blossom Company are shown below. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 414 Sales Discounts 126 Supplies 505 Cost of Goods Sold 157 Equipment 726 Salaries and Wages Expense 201 Accounts Payable The cost of all merchandise sold was 60% of the sales price. During January, Blossom completed the following transactions. Jan. 3 Purchased merchandise...
Please help with post to T accounts. The information above is the only information provided to...
Please help with post to T accounts. The information
above is the only information provided to me.
1. Larry Matt, Inc. completed these transactions during December of the current year: Began a financial services practice by investing $15,000 cash and office equipment having a $5,000 value in Dec. 1 exchange for common stock. 2 Purchased $1,200 of office equipment on credit. 3 Purchased $300 of office supplies on credit. 4 Completed work for a client and immediately received a payment...
QuesLIUILI Aggie Kids Parties Co. engaged in the following transactions during Jan 2018, its first month...
QuesLIUILI Aggie Kids Parties Co. engaged in the following transactions during Jan 2018, its first month of operations: Jan. 1 W. White and his brother each invested $20,000 of cash in exchange for stock in the company. Performed service for customers on account, $2,850 Purchased a building for $20,000 to use as a future office. Paid $2,000 and signed a 2 year note for the balance. Purchased $300 of office supplies. Paid cash. Received $2,000 as a deposit for a...
Entries into T accounts and Trial Balance Marjorie Knaus, an architect, organized Knaus Architects on January...
Entries into T accounts and Trial Balance Marjorie Knaus, an architect, organized Knaus Architects on January 1, 20Y4. During the month, Knaus Architects completed the following tra a. Issued common stock to Marjorie Knaus in exchange for $30,000. b. Paid January rent for office and workroom, $2,500. c. Purchased used automobile for $28,500, paying $6,000 cash and giving a note payable for the remainder. d. Purchased office and computer equipment on account, $8,000. e. Paid cash for supplies, $2,100. f....
On Dec. 15, 2019, Julie’s Tax Prep, a cash-method taxpayer, prepaid $4,000 worth of deductible interest...
On Dec. 15, 2019, Julie’s Tax Prep, a cash-method taxpayer,
prepaid $4,000 worth of deductible interest on a business loan. The
interest won’t accrue until January 2020.
Julie’s Tax Prep will be displaying for the first time at a
trade show in July 2020. On Dec. 16, 2019, Julie’s prepaid the
$8,000 trade show booth rental expense. The payment isn’t due until
May 2020, and use of the booth will occur in July 2020.
In addition, On Dec. 28, 2019,...
Date Accounts that are affected Category (A, L, OE, R, E) Increase OR Decrease DEBIT OR CREDIT Exercise 1 Based on the transactions given below, complete the table that follows: 1 Jan Imran invested AED 12,000 cash and some office equipment worth AED 10,000 into his new business. 2 Jan Purchased Office Supplies for cash AED 3,000. 3 Jan Purchased AED 12,000 worth of office equipment on credit. 4 Jan Paid insurance on the office equipment at AED 200 per...
Hatchett Fabrications, Inc. began their operations on January 1, 2019. Prepare the journal entries to record the transactions below. Use the designated space in the Solution Packet. (20 points) 1-Jan M. Hatchett, the owner, invested $75,000 in cash along with equipment valued at $50,000 in the company. 2-Jan The company completed a project for a customer and immediately received $12,000 in cash. 4-Jan The company bought $5,000 in office supplies on credit. 7-Jan The company paid $6,000 in cash for...
Please solve question 2
10 MUMS Dr. McMuffin has a medical clinic formed as a corporation that provides specialty care services to patients. The balances in the accounts as of January 1, 2019 are as follows: Cash 68,000 122,000 71,200 Accounts Receivable Office Supplies Building Land Office Fixtures and Equipment Medical Instruments Accounts Payable 47.000 Notes Payable 44,000 Contributed Capital 6,200 Retained Earnings 87.000 Patient Service Revenue 51,000 Income Tax Expense 28,000 Compensation Expense 40,000 Insurance Expense 42,000 Utilities Expense...
Were using the Purchases accounts for this problem, so no
merchandise inventory account. Need the journal entries.
DATE TRANSACTIONS 2016 Jan. 1 William Evans started Evans Distributors with an investment of $49,000. He also invested personal business supplies worth $1,000. Purchased merchandise for cash, $10,500, Check 100. Sold merchandise on account to Chu Corporation, $750, terms 2/10, 1/30, Invoice 1001. Purchased merchandise on account from Whitson Company, $1,800, terms 1/10, n/30, Invoice 1125. Received and paid freight charges related to...
Please show T-Accounts as well.
JOURNAL ENTRIES -- Prepare the journal entries for the following activities. (5 points each) Sold office equipment for $700. The equipment originally cost $2,000 and has accumulated depreciation of $1,500. Sold merchandise on account for $2,000. Cost of the merchandise was $1,200. 3. Received advance payment of $3,000 for services to be provided next month. Purchased new office equipment costing $4,000 by paying $1,500 in cash and signing a note for the balance. Received payment...
Please try to keep the same format!
Problem 7-04A Selected accounts from the chart of accounts of Blossom Company are shown below. 101 Cash 401 Sales Revenue 112 Accounts Receivable 412 Sales Returns and Allowances 120 Inventory 414 Sales Discounts 126 Supplies 505 Cost of Goods Sold 157 Equipment 726 Salaries and Wages Expense 201 Accounts Payable The cost of all merchandise sold was 60% of the sales price. During January, Blossom completed the following transactions. Jan. 3 Purchased merchandise...
Please help with post to T accounts. The information
above is the only information provided to me.
1. Larry Matt, Inc. completed these transactions during December of the current year: Began a financial services practice by investing $15,000 cash and office equipment having a $5,000 value in Dec. 1 exchange for common stock. 2 Purchased $1,200 of office equipment on credit. 3 Purchased $300 of office supplies on credit. 4 Completed work for a client and immediately received a payment...
QuesLIUILI Aggie Kids Parties Co. engaged in the following transactions during Jan 2018, its first month of operations: Jan. 1 W. White and his brother each invested $20,000 of cash in exchange for stock in the company. Performed service for customers on account, $2,850 Purchased a building for $20,000 to use as a future office. Paid $2,000 and signed a 2 year note for the balance. Purchased $300 of office supplies. Paid cash. Received $2,000 as a deposit for a...
Entries into T accounts and Trial Balance Marjorie Knaus, an architect, organized Knaus Architects on January 1, 20Y4. During the month, Knaus Architects completed the following tra a. Issued common stock to Marjorie Knaus in exchange for $30,000. b. Paid January rent for office and workroom, $2,500. c. Purchased used automobile for $28,500, paying $6,000 cash and giving a note payable for the remainder. d. Purchased office and computer equipment on account, $8,000. e. Paid cash for supplies, $2,100. f....
On Dec. 15, 2019, Julie’s Tax Prep, a cash-method taxpayer,
prepaid $4,000 worth of deductible interest on a business loan. The
interest won’t accrue until January 2020.
Julie’s Tax Prep will be displaying for the first time at a
trade show in July 2020. On Dec. 16, 2019, Julie’s prepaid the
$8,000 trade show booth rental expense. The payment isn’t due until
May 2020, and use of the booth will occur in July 2020.
In addition, On Dec. 28, 2019,...
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