Homework Answers
| Transaction | General Journal | Debit | Credit |
| 1. | Salaries expense | $490 | |
| ... Bank | $490 | ||
| (To record the salaries expense paid) | |||
| 2. | Computer equipment | $890 | |
| ... Accounts payable | $890 | ||
| (To record purchase of computer equipment) | |||
| 3. | Maintenance expense | $290 | |
| ... Bank | $290 | ||
| (To record maintenance expense) | |||
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Use the following information 1. Pay employee salaries of $490 by issuing checks. 2. Purchase computer...
A company had the following transactions 1 Paid $150 for office supplies using a debit card....
A company had the following transactions 1 Paid $150 for office supplies using a debit card. 2 Purchased office equipment costing $700 using a credit card 3. Paid utilities bill of $400 by issuing a check. Record each transaction. (If no entry is required for a transactionlevent, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record $150 purchase of office supplies using a debit card. Note: Enter debits before credits Transaction General...
Required information Use the following information for the Exercises below. The following information applies to the...
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below Del Gato Clinic's cash account shows a $14,675 debit balance and its bank statement shows $15,065 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2.986. b. The June 30 bank statement lists a $80 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389...
Saved A company had the following transactions 1 Paid $160 for office supplies using a debit...
Saved A company had the following transactions 1 Paid $160 for office supplies using a debit card 2. Purchased office equipment costing $710 using a credit card 3. Paid utilitie bill of $450 by issuing a check Record each transaction. (If no entry is required for a trensaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record $160 purchase of office supplies using a debit card. Note: Enter debits before credits....
[The following information applies to the questions displayed below.] At the beginning of Year 2, Oak...
[The following information applies to the questions
displayed below.]
At the beginning of Year 2, Oak Consulting had the following normal
balances in its accounts:
Account
Balance
Cash
$
31,800
Accounts receivable
20,900
Accounts payable
14,900
Common stock
23,900
Retained earnings
13,900
The following events apply to Oak Consulting for Year 2:
Provided $65,500 of services on account.
Incurred $3,500 of operating expenses on account.
Collected $46,800 of accounts receivable.
Paid $39,100 cash for salaries expense.
Paid $16,560 cash as...
Required information Use the following information for the Exercises below. (The following information applies to the...
Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below.) Del Gato Clinic's cash account shows a $15,734 debit balance and its bank statement shows $14,647 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,178. b. The June 30 bank statement lists a $65 bank service charge. C. Check No. 919, listed with the canceled checks, was correctly drawn for $189...
Halle's Berry Farm establishes a $350 petty cash fund on September 4 to pay for minor...
Halle's Berry Farm establishes a $350 petty cash fund on September 4 to pay for minor cash expenditures. The fund is replenished at the end of each month. At the end of September, the fund contains $275 in cash. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Entertainment for office party (petty cash) Lawn maintenance (credit card) Postage (credit card) Fuel for deliveries (credit...
Great Adventures Problem AP7-1 [The following information applies to the questions displayed below.] Tony and Suzie...
Great Adventures Problem AP7-1
[The following information applies to the questions
displayed below.]
Tony and Suzie see the need for a rugged all-terrain vehicle to
transport participants and supplies. They decide to purchase a used
Suburban on July 1, 2022, for $12,800. They expect to use the
Suburban for five years and then sell the vehicle for $4,900. The
following expenditures related to the vehicle were also made on
July 1, 2022:
The company pays $2,000 to GEICO for a...
During January, Luxury Cruise Lines incurs employee salaries of $1.0 million. Withholdings in January are $76,500 for th...
During January, Luxury Cruise Lines incurs employee salaries of $1.0 million. Withholdings in January are $76,500 for the employee portion of FICA, $150,000 for federal income tax, $62,500 for state income tax, and $10,000 for the employee portion of health insurance (payable to Blue Cross Blue Shield). The company incurs an additional $62,000 for federal and state unemployment tax and $30,000 for the employer portion of health insurance. Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below....
Required information (The following information applies to the questions displayed below.) Del Gato Clinic's cash account...
Required information (The following information applies to the questions displayed below.) Del Gato Clinic's cash account shows a $13,800 debit balance and its bank statement shows $13,560 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,742. b. The June 30 bank statement lists a $35 bank service charge. C. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June...
Required information [The following information applies to the questions displayed below.) The following information is available...
Required information [The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $39,000 9,500 52,000 54,000 19,600 34,500 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
A company had the following transactions 1 Paid $150 for office supplies using a debit card. 2 Purchased office equipment costing $700 using a credit card 3. Paid utilities bill of $400 by issuing a check. Record each transaction. (If no entry is required for a transactionlevent, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record $150 purchase of office supplies using a debit card. Note: Enter debits before credits Transaction General...
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below Del Gato Clinic's cash account shows a $14,675 debit balance and its bank statement shows $15,065 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2.986. b. The June 30 bank statement lists a $80 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389...
Saved A company had the following transactions 1 Paid $160 for office supplies using a debit card 2. Purchased office equipment costing $710 using a credit card 3. Paid utilitie bill of $450 by issuing a check Record each transaction. (If no entry is required for a trensaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record $160 purchase of office supplies using a debit card. Note: Enter debits before credits....
[The following information applies to the questions
displayed below.]
At the beginning of Year 2, Oak Consulting had the following normal
balances in its accounts:
Account
Balance
Cash
$
31,800
Accounts receivable
20,900
Accounts payable
14,900
Common stock
23,900
Retained earnings
13,900
The following events apply to Oak Consulting for Year 2:
Provided $65,500 of services on account.
Incurred $3,500 of operating expenses on account.
Collected $46,800 of accounts receivable.
Paid $39,100 cash for salaries expense.
Paid $16,560 cash as...
Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below.) Del Gato Clinic's cash account shows a $15,734 debit balance and its bank statement shows $14,647 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,178. b. The June 30 bank statement lists a $65 bank service charge. C. Check No. 919, listed with the canceled checks, was correctly drawn for $189...
Halle's Berry Farm establishes a $350 petty cash fund on September 4 to pay for minor cash expenditures. The fund is replenished at the end of each month. At the end of September, the fund contains $275 in cash. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Entertainment for office party (petty cash) Lawn maintenance (credit card) Postage (credit card) Fuel for deliveries (credit...
Great Adventures Problem AP7-1
[The following information applies to the questions
displayed below.]
Tony and Suzie see the need for a rugged all-terrain vehicle to
transport participants and supplies. They decide to purchase a used
Suburban on July 1, 2022, for $12,800. They expect to use the
Suburban for five years and then sell the vehicle for $4,900. The
following expenditures related to the vehicle were also made on
July 1, 2022:
The company pays $2,000 to GEICO for a...
Required information (The following information applies to the questions displayed below.) Del Gato Clinic's cash account shows a $13,800 debit balance and its bank statement shows $13,560 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,742. b. The June 30 bank statement lists a $35 bank service charge. C. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June...
Required information [The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $39,000 9,500 52,000 54,000 19,600 34,500 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
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