Homework Answers
Option D is correct.
| General Journal | Debit | Credit |
| Accounts Receivable | $2000 | |
| Service Revenue | $2000 |
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uebits = Cr. credits) and contains the correct account names and amous. 16. The company consulted...
15. What type of account is Bright, Withdrawals? A. Asset B. Liability C. Equity--Withdrawals D. Equity--Revenue...
15. What type of account is Bright, Withdrawals? A. Asset B. Liability C. Equity--Withdrawals D. Equity--Revenue E. Equity--Expense Questions 16-20: Show how each of the following five business transactions is recorded as a journal entry. The correct answer is a journal entry which both balances (Dr. debits = Cr. credits) and contains the correct account names and amounts. 16. The company consulted for a new brand and billed the client for services rendered $2,000 A. Dr. Service Revenue 2000; Cr....
Ivanhoe Company Worksheet For the Month Ended June 30, 2020 Trial Balance Account Titles Dr. Cr....
Ivanhoe Company Worksheet For the Month Ended June 30, 2020 Trial Balance Account Titles Dr. Cr. Cash 2,100 Accounts Receivable 2,800 Supplies 2,000 Accounts Payable 1,100 Unearned Service Revenue 400 Owner's Capital 3,160 Service Revenue 3,000 Salaries and Wages Expense Miscellaneous Expense 160 Total 7,660 7,660 Other data: 1. A physical count reveals $700 of supplies on hand. 2. $100 of the unearned revenue is still unearned at month-end. 3. Accrued salaries are $310. Complete the worksheet. June 30, Account...
5. Company C has two office employees who earn $100 a day each and are paid...
5. Company C has two office employees who earn $100 a day each and are paid on Friday for a five-day workweek that begins on Monday. If December 31 fell on Tuesday, and the two employees worked both on Monday and on Tuesday, what is the amount of accrued salary expense at December 31 for the two employees? A. 200 B. 300 C. 600 D. 400 E. None of the above 6. For Company D, the balance in office supplies...
Select the correct Dr. and Cr. to record this year's Federal income taxes..... dr. Choose... cr....
Select the correct Dr. and Cr. to record this year's Federal income taxes..... dr. Choose... cr. Choose... e Choose... dr. Income Tax Expense dr. Income Tax Payable Back on De cr. Income Tax Payable pur company's obligation for Federal in Today is M cr. Income Tax Expense payment to the IRS. Back on December 31st, you recorded your company's obligation for Federal income taxes. Today is March 15 and you need to remit payment to the IRS. Select the correct...
17. The company collected cash from a customer on account $1,000. A. Dr. Service Revenue .000;...
17. The company collected cash from a customer on account $1,000. A. Dr. Service Revenue .000; Cr. Accounts Receivable 1000 B. Dr. Accounts Receivable 1000; Cr. Cash 1000 C. Dr. Cash 1000; Cr. Accounts Receivable 1000 D. Dr. Accounts Receivable 1000; Cr. Service Revenue 1000 E. None of the above
Calculate the account balance for the following accounts: Cash Dr. 400 640 7,140 4,285 8,350 Cr....
Calculate the account balance for the following accounts: Cash Dr. 400 640 7,140 4,285 8,350 Cr. 6,980 395 5,400 Service Revenue 7,600 2,560 3,600 840 Cr. Accounts Payable Dr. 1,380 395 5,400 5,390 2,000 IU O Tdi & eSAO MacBook Air es/27987/assignments/2657279 Cr. Accounts Payable Dr. 1,380 395 5,390 2,000 5,400 C. Salary Expense Dr. 3,640 440 3,000 340 e Textbook and Media Attemp
Using the periodic method, what is the journal entry to record the purchase of 2000 of merchandise inventory on account?
Using the periodic method, what is the journal entry to record the purchase of 2000 of merchandise inventory on account?A. Dr. Purchases 2,000 Cr. Cash 2,000B. Dr. Cash 2,000 Cr. Purchases 2,000C. Dr. Purchases 2,000 Cr. AccountsD. Dr. Merchandise Inventory 2,000 Cr. Accounts Receivable 2,000E. None of the above
QUESTION 1 4 pa Determine whether the normal balance of each account is a debit or...
QUESTION 1 4 pa Determine whether the normal balance of each account is a debit or credit balance - Dividends - Revenues 1. Debit - Deferred/Unearned revenue 2. Credit - Accounts payable - Expenses QUESTION 2 1.5 pc When a company performs a service but does not receive cash at the time of service, revenue is credited, tell me which account will be debited? O cash accounts payable o accounts receivable dividends QUESTION 3 On January 8, Nickel Corporation purchased...
8:41 March 15 MU Date Account & 5 Posting) lete the following: (10 MIN / 13...
8:41 March 15 MU Date Account & 5 Posting) lete the following: (10 MIN / 13 Points - 8 Journalin . Enter the transactions into the Journal Post the transactions to T-accounts determine each account's ending balance. a. 1 March, John bought $2,600 of supplies on account from a local office supplier. b. 15 March, John billed his customers for $4,300 of services for the month. c. 25 March, John received $3,500 in payments for the services billed on 15...
More Info a. b. C d. Received contribution of $11,000 cash from Marilyn Mitchell in exchange...
More Info a. b. C d. Received contribution of $11,000 cash from Marilyn Mitchell in exchange for common stock. Performed service for a client and received cash of $1,500 Paid off the beginning balance of accounts payable. Purchased supplies from Office Max on account, $600. Collected cash from a customer on account, $2,500. Cash dividends of $1,200 were paid to stockholders. Consulted for a new band and billed the client for services rendered, $6,000 Recorded the following business expenses for...
15. What type of account is Bright, Withdrawals? A. Asset B. Liability C. Equity--Withdrawals D. Equity--Revenue E. Equity--Expense Questions 16-20: Show how each of the following five business transactions is recorded as a journal entry. The correct answer is a journal entry which both balances (Dr. debits = Cr. credits) and contains the correct account names and amounts. 16. The company consulted for a new brand and billed the client for services rendered $2,000 A. Dr. Service Revenue 2000; Cr....
Ivanhoe Company Worksheet For the Month Ended June 30, 2020 Trial Balance Account Titles Dr. Cr. Cash 2,100 Accounts Receivable 2,800 Supplies 2,000 Accounts Payable 1,100 Unearned Service Revenue 400 Owner's Capital 3,160 Service Revenue 3,000 Salaries and Wages Expense Miscellaneous Expense 160 Total 7,660 7,660 Other data: 1. A physical count reveals $700 of supplies on hand. 2. $100 of the unearned revenue is still unearned at month-end. 3. Accrued salaries are $310. Complete the worksheet. June 30, Account...
Select the correct Dr. and Cr. to record this year's Federal income taxes..... dr. Choose... cr. Choose... e Choose... dr. Income Tax Expense dr. Income Tax Payable Back on De cr. Income Tax Payable pur company's obligation for Federal in Today is M cr. Income Tax Expense payment to the IRS. Back on December 31st, you recorded your company's obligation for Federal income taxes. Today is March 15 and you need to remit payment to the IRS. Select the correct...
17. The company collected cash from a customer on account $1,000. A. Dr. Service Revenue .000; Cr. Accounts Receivable 1000 B. Dr. Accounts Receivable 1000; Cr. Cash 1000 C. Dr. Cash 1000; Cr. Accounts Receivable 1000 D. Dr. Accounts Receivable 1000; Cr. Service Revenue 1000 E. None of the above
Calculate the account balance for the following accounts: Cash Dr. 400 640 7,140 4,285 8,350 Cr. 6,980 395 5,400 Service Revenue 7,600 2,560 3,600 840 Cr. Accounts Payable Dr. 1,380 395 5,400 5,390 2,000 IU O Tdi & eSAO MacBook Air es/27987/assignments/2657279 Cr. Accounts Payable Dr. 1,380 395 5,390 2,000 5,400 C. Salary Expense Dr. 3,640 440 3,000 340 e Textbook and Media Attemp
QUESTION 1 4 pa Determine whether the normal balance of each account is a debit or credit balance - Dividends - Revenues 1. Debit - Deferred/Unearned revenue 2. Credit - Accounts payable - Expenses QUESTION 2 1.5 pc When a company performs a service but does not receive cash at the time of service, revenue is credited, tell me which account will be debited? O cash accounts payable o accounts receivable dividends QUESTION 3 On January 8, Nickel Corporation purchased...
8:41 March 15 MU Date Account & 5 Posting) lete the following: (10 MIN / 13 Points - 8 Journalin . Enter the transactions into the Journal Post the transactions to T-accounts determine each account's ending balance. a. 1 March, John bought $2,600 of supplies on account from a local office supplier. b. 15 March, John billed his customers for $4,300 of services for the month. c. 25 March, John received $3,500 in payments for the services billed on 15...
More Info a. b. C d. Received contribution of $11,000 cash from Marilyn Mitchell in exchange for common stock. Performed service for a client and received cash of $1,500 Paid off the beginning balance of accounts payable. Purchased supplies from Office Max on account, $600. Collected cash from a customer on account, $2,500. Cash dividends of $1,200 were paid to stockholders. Consulted for a new band and billed the client for services rendered, $6,000 Recorded the following business expenses for...
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