Question

Brief Exercise 3-5 a-c Transactions for Sunland Ltd. for the month of June, its first month of operations, are presented belo
Prepare a debit-credit analysis. Account Debited Account Credited Effect Effect une 1 Increase Increase Increase 18 25 27 28
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Solution:

M 0 ZI 22 AR УИ 23 24 25 26 27 28 30 31 32 33 34 35 Account debit effect 01-Jun Increase 04-Jun Increase 07-Jun Increase 18-J

Add a comment
Know the answer?
Add Answer to:
Brief Exercise 3-5 a-c Transactions for Sunland Ltd. for the month of June, its first month...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Options; Accounts Payable, Equipment, Common Shares, Cash, Rent Expense, Supplies, No Transaction, Income Tax Expense, Unearned...

    Options; Accounts Payable, Equipment, Common Shares, Cash, Rent Expense, Supplies, No Transaction, Income Tax Expense, Unearned Revenue, Accounts Receivable, Service Revenue. Question 3 Transactions for Crane Ltd. for the month of June, its first month of operations, are presented below: June 1 Issued common shares to shareholders in exchange for $2,550 cash 4 Purchased supplies on account for $256 7 Billed J. Kronsnoble $278 for welding work done. 18 Received partial payment of $192 from J. Kronsnoble for work billed...

  • PLEASE SOLVE THIS PART Prepare a equation analysis. (If a transaction causes a decrease in Assets,...

    PLEASE SOLVE THIS PART Prepare a equation analysis. (If a transaction causes a decrease in Assets, Liabilities or Shareholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-2 for example.) Transactions for Wildhorse Ltd. for the month of June, its first month of operations, are presented below: June 1 Issued common shares to shareholders in exchange for $2,340 cash. 4 Purchased supplies...

  • uestion 1 of 3 < 0.64/1 ew Policies how Attempt History urrent Attempt in Progress Transactions...

    uestion 1 of 3 < 0.64/1 ew Policies how Attempt History urrent Attempt in Progress Transactions for Blossom Ltd. for the month of June, its first month of operations, are presented below. June 1 4 7 18 Issued common shares to shareholders in exchange for $2.000 cash. Purchased supplies on account for $200. Billed J. Kronsnoble $300 for welding work done. Received partial payment of $200 from J. Kronsnoble for work billed on June 7. Hired a new employee to...

  • During the month of August, Sunland Industries had the following transactions: Aug. 2 Aug. 6 Aug....

    During the month of August, Sunland Industries had the following transactions: Aug. 2 Aug. 6 Aug. 10 Aug 15 Aug. 21 Aug. 28 Aug. 31 Paid cash for the August rent of $1.490. Purchased supplies of $240 on account. Collected $5,150 from customers on account. Received $2.280 cash for services to be rendered in September Paid for supplies purchased on account on August 6. Billed customers for $7,830 for services provided in August, Paid $130 cash for utilities expense. For...

  • Selected transactions for Sunland Company, an interior decorating firm, in its first month of business, are...

    Selected transactions for Sunland Company, an interior decorating firm, in its first month of business, are as follows. Jan. 2. 3 9 11 Stockholders invested $18,337 cash in the business in exchange for common stock. Purchased used car for $10,024 cash for use in the business. Purchased supplies on account for $611. Billed customers $2,200 for services performed. Paid $244 cash for advertising, Received $954 cash from customers billed on January 11. Paid creditor $367 cash on balance owed. Declared...

  • Brief Exercise 2-02 Transactions for the Oleg Thorn Company for the month of June are presented...

    Brief Exercise 2-02 Transactions for the Oleg Thorn Company for the month of June are presented below. June 1 Oleg Thorn invests $5,000 cash in a small welding business of which he is the sole proprietor. 2 3 12 Purchases equipment on account for $3,600. $800 cash is paid to landlord for June rent. Sends a bill to K. Johnsen for $400 after completing welding work done on account. Identify the accounts to be debited and credited for each transaction....

  • At June 30, 2018, the end of its most recent fiscal year, River Consultants Ltd.'s post-closing...

    At June 30, 2018, the end of its most recent fiscal year, River Consultants Ltd.'s post-closing trial balance was as follows: Credit Cash Debit $15,900 1,100 600 Accounts receivable Supplies Accounts payable Income tax payable Unearned revenue Common shares Retained earnings $500 500 1,200 3,200 12,200 $17,600 $17,600 The company underwent a major expansion in July. New staff was hired and more financing was obtained. River conducted the following transactions during July 2018. July 3 Issued $9,700 of common shares...

  • 3 Exercise 2-2 Selected transactions for L. Takemoto, an interior decorating firm, in its first month...

    3 Exercise 2-2 Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are as follows. Jan. 2 Stockholders invested $15,000 cash in the business in exchange for common stock. Purchased used car for $8,200 cash for use in the business. 9 Purchased supplies on account for $500. Billed customers $1,800 for services performed. Paid $200 cash for advertising. Received $780 cash from customers billed on January 11. 23 Paid creditor $300 cash on balance...

  • Ember Landscaping Services Ltd. completed the following transactions during July 2019, its first month of operations:...

    Ember Landscaping Services Ltd. completed the following transactions during July 2019, its first month of operations: July 1 Received cash of $100,000 and issued common shares. 2 Purchased equipment for $70,000 cash. 3 Purchased supplies on account, $800. 10 Performed landscaping services for customers on account, $7,900. 14 Paid $500 on accounts payable. 18 Collected cash from customers on account, $5,000. 23 Paid utilities expense, $300. 25 Performed landscaping services for customers and received cash of $2,500. 30 Paid the...

  • P3.7A (LO 3, 4) During the first month of operations, the following transactions occurred for Virmani...

    P3.7A (LO 3, 4) During the first month of operations, the following transactions occurred for Virmani Architects Inc.: Apr. 1 Invested cash of $10,000 and equipment of $6,000 in the company in exchange for common shares. 1 Hired a secretary-receptionist at a monthly salary of $1,900. 2 Paid office rent for the month, $950. 3 Purchased architectural supplies on account from Halo Ltd., $1,900. 10 Completed blueprints on a carport and billed client $1,200. 13 Received $800 cash advance from...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT