Homework Answers
| Date | Account titles and explanation | Debit | Credit |
| June 1 | Cash | $4,000 | |
| Common stock | $4,000 | ||
| [ To record the issue of common stock for cash ] | |||
| June 2 | Equipment | $1,000 | |
| Accounts payables | $1,000 | ||
| [ To record the purchase of equipment on account ] | |||
| June 3 | Prepaid Rent | $520 | |
| Cash | $520 | ||
| [ To record the prepayment of rent ] | |||
| June 12 | Accounts receivables | ||
| Service revenue | $500 | ||
| [ To record the revenue for service provided on account ] | $500 |
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Transactions for Blossom Company for the month of June are presented below June 1 Issues common...
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Question 16 of 18 -76 View Policies Current Attempt in Progress Transactions for the Oleg Thorn...
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Blue Spruce Corp. has the following transactions during August of the current year. Aug. 1 Issues...
Blue Spruce Corp. has the following transactions during August
of the current year.
Aug. 1
Issues shares of common stock to investors in exchange for
$10,170.
4
Pays insurance in advance for 3 months, $1,720.
16
Receives $710 from clients for services rendered.
27
Pays the secretary $740 salary.
Journalize the transactions. (If no entry is required,
select "No Entry" for the account titles and enter 0 for the
amounts. Credit account titles are automatically indented when
amount is entered....
Transactions for Cullumber Company for the month of June are presented below. June 1 Issues common stock to investors in exchange for $5,330 cash. 2 Buys equipment on account for $1,660. 3 Pays $890 to landlord for June rent. 12 Bills Wil Wheaton $600 for welding work done. Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do...
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Question 16 of 18 -76 View Policies Current Attempt in Progress Transactions for the Oleg Thorn Company for the month of June are presented below. June 1 2 3 12 Oleg Thorn invests $4.500 cash in a small welding business of which he is the sole proprietor Purchases equipment on account for $3.100. 5830 cash is paid to landlord for June rent Sends a bill to Johnsen for $300 after completing welding work done on account Journalize the transactions. (Credit...
On June 10, Kingbird Company purchased $8,200 of merchandise from Blossom Company, on account, terms 4/10, 30 Kingbird pays the freight costs of $410 on June 11. Goods totaling $400 are returned to Blossom for credit on June 12. On June 19,Kingbird Company pays Blossom Company in full, less the purchase discount. Both companies use a perpetual inventory system Prepare separate entries for each transaction on the books of Kingbird Company f no entry is required, select "No Entry" for...
Blue Spruce Corp. has the following transactions during August
of the current year.
Aug. 1
Issues shares of common stock to investors in exchange for
$10,170.
4
Pays insurance in advance for 3 months, $1,720.
16
Receives $710 from clients for services rendered.
27
Pays the secretary $740 salary.
Journalize the transactions. (If no entry is required,
select "No Entry" for the account titles and enter 0 for the
amounts. Credit account titles are automatically indented when
amount is entered....
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