un purchases office supplies at Office Depot, on account, fors NATE ACCOUNT 1717/2018 Depot, on account...

Question

Question

un purchases office supplies at Office Depot, on account, fors NATE ACCOUNT 1717/2018 Depot, on account for $700 on 1/17/2018

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

3.

DATE	ACCOUNT	DEBIT	CREDIT
1/17/2018	Office Supplies	700
	Office Depot		700
	(Office supplies purchased at Office Depot, on account)

4.

DATE	ACCOUNT	DEBIT	CREDIT
1/20/2018	Prepaid Expenses	2000
	Cash		2000
	(Paid for advertisement to be run in May)

5.

DATE	ACCOUNT	DEBIT	CREDIT
1/31/2018	Retained Earnings	1000
	Dividend Payable		1000
	(Dividend Declared to be paid on 2/13/2018 )

Add a comment

Answer 2

Similar Homework Help Questions

At the beginning of the fiscal year 2018, Samat Company did not have any office supplies....

At the beginning of the fiscal year 2018, Samat Company did not have any office supplies. On January 2, 2018, it used $800 cash to purchase some office supplies. On December 31, 2018, the company's year end, a physical count showed the $210 worth of office supplies remained. Prepared journal entires related to office supplies for Samat Company for the fiscal year 2018. Date Account Title and Explanation PR Debit Credit
Purchased office supplies on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease...

Purchased office supplies on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Bright, the owner, contributed furniture in exchange for capital. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Purchased office furniture on account Account Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Collected cash for services Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Accrued liability for utilities. Account #1 Account Type Increase/Decrease Debit/Credit...
On October 3, 2018, Regal Company purchased $3,600 of supplies on account. In Regal's chart of...

On October 3, 2018, Regal Company purchased $3,600 of supplies on account. In Regal's chart of accounts, the payable account is No. 21. supplies account is No. 15, and the accounts Journalize and insert the posting references for the October 3, 2018, transaction on page 91 of Regal Company's two column journal. Page: 91 ACCOUNT TITLE DOC.POST. REF DATE 、o. DEBIT CREDIT 1 Oxt. 3, 2018 b. and d. Enter a debit balance of $770 as of October 1, 2018....

Part V. True/False (5 points) For each question below, please mark if the statement is "True"...

Part V. True/False (5 points) For each question below, please mark if the statement is "True" or "False". T F 1. A purchase of Supplies with Cash was incorectly recorded as a debit to Prepaid Insurance and Credit to Accounts Payable. A trial balance would not uncover this error. T F 2. Adjusting entries sometimes affect the cash account. T F 3. GAAP is set by the FICPA, SEC, and PCAOB. T F 4. A shark would be considered Property,...
© Data Table Creative Tots Child Care Trial Balance August 31, 2018 Balance Credit Debit 8,420...

© Data Table Creative Tots Child Care Trial Balance August 31, 2018 Balance Credit Debit 8,420 6,200 1,600 300 89,500 Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Equipment Accounts Payable Notes Payable Common Stock Dividends Service Revenue Salaries Expense 3,900 55,000 51,500 3,380 4,200 Rent Expense 3,800 900 114,100 $ 114,600 Total Print Done 0 More Info a. Cash is understated by $1,200. b. A $4,700 debit to Accounts Receivable was posted as a credit. c. A $1,000...
Problem #3 On Mar 1, Pink Company paid $14,000 for 12-months of office supplies. On Mar...

Problem #3 On Mar 1, Pink Company paid $14,000 for 12-months of office supplies. On Mar 31, the company adjusted the asset account to reflect that $1,000 of supplies had been used for the month of March. Date Accounts Debit Credit Office Supplies 14,000

QUESTION 14 A company purchases supplies on account, what is the effect on the accounting equation?...

QUESTION 14 A company purchases supplies on account, what is the effect on the accounting equation? Assets decrease; equity increases Assets decrease; equity decreases Liabilities decrease; equity decreases Liabilities increase; equity increases Liabilities increase; assets increase 4 points QUESTION 15 Unearned revenues are: Revenues that have been earned and received in cash Revenues that have been earned but not yet collected in cash Liabilities created when a customer pays in advance for products or services before the revenue...
14) Prior to recording adjusting entries, the Office Supplies account had a $500 debit balance. A...

14) Prior to recording adjusting entries, the Office Supplies account had a $500 debit balance. A physical count of the supplies showed $285 of unused supplies available. The required adjusting entry is: 15) On July 1, a company paid the $7,800 premium on a one-year insurance policy with benefits beginning on that date. What will be the insurance expense on the annual income statement for the first year ended December 31?
The unadiusted trial balance of Carrolton Inn Company at December 31, 2018, ali ule uala luer...

The unadiusted trial balance of Carrolton Inn Company at December 31, 2018, ali ule uala luer (Click the icon to view the unadjusted trial balance.) Click the icon to view the adjustm Read the requirements Requirement 3. Prepare the adjusted trial balance. Credit Review the ledger accounts. Carrolton Inn Company Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Cash $ 11,800 Accounts Receivable 13,100 Prepaid Insurance Office Supplies Building 420,000 Accumulated Depreciation-Building Accounts Payable Salaries Payable Unearned Revenue...

Question 6 Not yet answered On February 9, 2020, Grove Industries purchased office supplies on account...

Question 6 Not yet answered On February 9, 2020, Grove Industries purchased office supplies on account from Markus Brothers Stationery Store. How is this entry recorded in the journal? Marked out of 1.00 Flag Cuestion Select one: O a. debit to Office Supplies and credit to Accounts Payable O b. debit to Office Supplies and credit to Cash O c. debit to Supplies Expense and credit to Accounts Receivable O d. debit to Accounts Receivable and credit to Office Supplies...

un purchases office supplies at Office Depot, on account, fors NATE ACCOUNT 1717/2018 Depot, on account...

Homework Answers

Add Answer to:
un purchases office supplies at Office Depot, on account, fors NATE ACCOUNT 1717/2018 Depot, on account...

Post as a guest

Earn Coins

At the beginning of the fiscal year 2018, Samat Company did not have any office supplies....

Purchased office supplies on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease...

On October 3, 2018, Regal Company purchased $3,600 of supplies on account. In Regal's chart of...

Part V. True/False (5 points) For each question below, please mark if the statement is "True"...

© Data Table Creative Tots Child Care Trial Balance August 31, 2018 Balance Credit Debit 8,420...

Problem #3 On Mar 1, Pink Company paid $14,000 for 12-months of office supplies. On Mar...

QUESTION 14 A company purchases supplies on account, what is the effect on the accounting equation?...

14) Prior to recording adjusting entries, the Office Supplies account had a $500 debit balance. A...

The unadiusted trial balance of Carrolton Inn Company at December 31, 2018, ali ule uala luer...

Question 6 Not yet answered On February 9, 2020, Grove Industries purchased office supplies on account...

un purchases office supplies at Office Depot, on account, fors NATE ACCOUNT 1717/2018 Depot, on account...

Homework Answers

Add Answer to: un purchases office supplies at Office Depot, on account, fors NATE ACCOUNT 1717/2018 Depot, on account...

Post as a guest

Earn Coins

Add Answer to:
un purchases office supplies at Office Depot, on account, fors NATE ACCOUNT 1717/2018 Depot, on account...