Homework Answers
Journal entries
| No | account and explanation | debit | credit |
| a | Cash | 6000 | |
| Equipment | 7600 | ||
| Web servers | 12000 | ||
| Common Stock | 25600 | ||
| (To record owner's investment) | |||
| b | Prepaid insurance | 4800 | |
| Cash | 4800 | ||
| (To record insurance coverage) | |||
| c | Supplies | 900 | |
| Account payable | 900 | ||
| (To record supplies) | |||
| d | Selling expense | 800 | |
| Cash | 800 | ||
| (To record selling expense) | |||
| e | Cash | 4500 | |
| Service revenue | 4500 | ||
| (To record service revenue) | |||
| f | Account payable | 900 | |
| Cash | 900 | ||
| (To record amount paid) | |||
| g | Equipment | 3400 | |
| Cash | 3400 | ||
| (To record equipment purchased) |
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Cash Supplies 900 Prepaid Insurance 4,800 (C) 6,000 (b) 4,500 (d) 4,800 800 900 3,400 Equipment...
a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid...
a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid $1,450 cash in advance for an insurance policy. d. Paid $400 on accounts payable. e. Recorded the adjusting entry to recognize $300 of insurance expense. f. Received $1,600 cash for services to be performed at a later date. g. Purchased land for $9,000 cash. h. Purchased supplies for $350 cash. Required Record each of the above transactions in general journal form and then show...
REQUIRED: Homework Chapter 3 0 Help Save & Exit Submit November 30 December Supplies Prepaid Insurance...
REQUIRED: Homework Chapter 3 0 Help Save & Exit Submit November 30 December Supplies Prepaid Insurance Salaries Payable Deferred Revenue Debit Credit Debit Credit 1,000 2,500 4,000 3,000 9,000 14,000 1,000 500 Doints eBook The following information also is known: Referencesa. Purchases of supplies in December total $2,500. b. No insurance payments are made in December c. $9,000 is paid to employees during December for November salaries. d. On November 1, a tenant pays Golden Eagle $1,500 in advance rent...
Journal entry worksheet < 1 2 3 4 5 6 7 Purchased supplies for $350 cash....
Journal entry worksheet < 1 2 3 4 5 6 7 Purchased supplies for $350 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 7 Collected $5,600 cash on accounts receivable. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 3 4 5 6 7 Paid $1,450 cash in advance...
a. Wages of $6,000 are eamed by workers but not paid as of December 31 b....
a. Wages of $6,000 are eamed by workers but not paid as of December 31 b. Depreciation on the company's equipment for the year is $11,320 e. The Office Supplies account had a $140 debit balance at the beginning of the year. During the year, $5,761 of office supplies are purchased. A physical count of supplies at December 31 shows $626 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An...
a. Depreciation on the company's equipment for the year is computed to be $13,000. b. The...
a. Depreciation on the company's equipment for the year is computed to be $13,000. b. The Prepaid Insurance account had a $6,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's Insurance policies showed that $1,750 of unexpired Insurance coverage remains C. The Office Supplies account had a $510 debit balance at the beginning of the year, and $2,680 of office supplies were purchased during the year. The December 31...
Ko? OOO O O O... > The company prepaid $7,000 cash for six months' rent for...
Ko? OOO O O O... > The company prepaid $7,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $7,000.) Note: Enter debits before credits. Date General Journal Debit Credit Journal entry worksheet < 0 2 3 0 6 6 6 .... 12 The company made credit purchases of office equipment for $4,000 and office supplies for $2,000. Payment is due within 10 days. Note: Enter debits before credits. Date General Journal Debit Credit Journal entry...
E a. Depreciation on the company's equipment for 2017 is computed to be $10,000. b. The...
E a. Depreciation on the company's equipment for 2017 is computed to be $10,000. b. The Prepaid Insurance account had a $9,000 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,040 of unexpired insurance coverage remains. c. The Office Supplies account had a $220 debit balance on December 31, 2016; and $2,680 of office supplies were purchased during the year. The December 31, 2017,...
Aug. 1 Madison Harris, the owner, invested $7,100 cash and $34, 100 of photography equipment in...
Aug. 1 Madison Harris, the owner, invested $7,100 cash and $34, 100 of photography equipment in the company in exchange for common stock. 2 The company paid $2,700 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $940 cash. 20 The company received $3,931 cash in photography fees earned. 31 The company paid $735 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet...
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...
Zavier Company must make three adjusting entries on December 31, 2016. a. Supplies used, $9,100; (supplies...
Zavier Company must make three adjusting entries on December 31, 2016. a. Supplies used, $9,100; (supplies totaling $14,200 were purchased on December 1, 2016, and debited to the Supplies account). b. Expired insurance, 56,300 on December 1, 2016, the firm paid $37,800 for six months insurance coverage in advance and debited Prepaid Insurance for this amount. c. Depreciation expense for equipment, $3,900.TLES Prepare the journal entries for the above adjustments View transaction list Journal entry worksheet Prepare the adjusting entry...
a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid $1,450 cash in advance for an insurance policy. d. Paid $400 on accounts payable. e. Recorded the adjusting entry to recognize $300 of insurance expense. f. Received $1,600 cash for services to be performed at a later date. g. Purchased land for $9,000 cash. h. Purchased supplies for $350 cash. Required Record each of the above transactions in general journal form and then show...
REQUIRED: Homework Chapter 3 0 Help Save & Exit Submit November 30 December Supplies Prepaid Insurance Salaries Payable Deferred Revenue Debit Credit Debit Credit 1,000 2,500 4,000 3,000 9,000 14,000 1,000 500 Doints eBook The following information also is known: Referencesa. Purchases of supplies in December total $2,500. b. No insurance payments are made in December c. $9,000 is paid to employees during December for November salaries. d. On November 1, a tenant pays Golden Eagle $1,500 in advance rent...
Journal entry worksheet < 1 2 3 4 5 6 7 Purchased supplies for $350 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 7 Collected $5,600 cash on accounts receivable. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 3 4 5 6 7 Paid $1,450 cash in advance...
a. Wages of $6,000 are eamed by workers but not paid as of December 31 b. Depreciation on the company's equipment for the year is $11,320 e. The Office Supplies account had a $140 debit balance at the beginning of the year. During the year, $5,761 of office supplies are purchased. A physical count of supplies at December 31 shows $626 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An...
a. Depreciation on the company's equipment for the year is computed to be $13,000. b. The Prepaid Insurance account had a $6,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's Insurance policies showed that $1,750 of unexpired Insurance coverage remains C. The Office Supplies account had a $510 debit balance at the beginning of the year, and $2,680 of office supplies were purchased during the year. The December 31...
Ko? OOO O O O... > The company prepaid $7,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $7,000.) Note: Enter debits before credits. Date General Journal Debit Credit Journal entry worksheet < 0 2 3 0 6 6 6 .... 12 The company made credit purchases of office equipment for $4,000 and office supplies for $2,000. Payment is due within 10 days. Note: Enter debits before credits. Date General Journal Debit Credit Journal entry...
E a. Depreciation on the company's equipment for 2017 is computed to be $10,000. b. The Prepaid Insurance account had a $9,000 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,040 of unexpired insurance coverage remains. c. The Office Supplies account had a $220 debit balance on December 31, 2016; and $2,680 of office supplies were purchased during the year. The December 31, 2017,...
Aug. 1 Madison Harris, the owner, invested $7,100 cash and $34, 100 of photography equipment in the company in exchange for common stock. 2 The company paid $2,700 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $940 cash. 20 The company received $3,931 cash in photography fees earned. 31 The company paid $735 cash for August utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet...
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...
Zavier Company must make three adjusting entries on December 31, 2016. a. Supplies used, $9,100; (supplies totaling $14,200 were purchased on December 1, 2016, and debited to the Supplies account). b. Expired insurance, 56,300 on December 1, 2016, the firm paid $37,800 for six months insurance coverage in advance and debited Prepaid Insurance for this amount. c. Depreciation expense for equipment, $3,900.TLES Prepare the journal entries for the above adjustments View transaction list Journal entry worksheet Prepare the adjusting entry...
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