Homework Answers
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| Dispatch Services Co. | |
| a. | Liability |
| b. | Asset |
| c. | Equity |
| d. | Equity |
| e. | Asset |
| f. | Revenue |
| g. | Asset |
| h. | Expense |
| i. | Asset |
| j. | Expense |
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Normal Balances of Accounts Identity each of the following accounts of Dispatch Services Co. as asset,...
Entries into T accounts and Trial Balance ken Jones, an architect, organized Jones Architects on April 1...
Entries into T accounts and Trial Balance ken Jones, an architect, organized Jones Architects on April 1, 20Y2. During the month, Jones Architects completed the following transactions: a. Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $52,200. b. Purchased used automobile for $34,000, paying $7,800 cash and giving a note payable for the remainder. c. Paid April rent for office and workroom, $5,200 d. Paid cash for...
Entries into T accounts and Trial Balance Ken Jones, an architect, organized Jones Architects on April...
Entries into T accounts and Trial Balance Ken Jones, an architect, organized Jones Architects on April 1, 20Y2. During the month, Jones Architects completed the following transactions: Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $48,700. Purchased used automobile for $32,000, paying $7,300 cash and giving a note payable for the remainder. Paid April rent for office and workroom, $4,900. Paid cash for supplies, $2,340. Purchased office...
Entries into T accounts and Trial Balance Ken Jones, an architect, organized Jones Architects on April...
Entries into T accounts and Trial Balance Ken Jones, an architect, organized Jones Architects on April 1, 20Y2. During the month, Jones Architects completed the following transactions: a. Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $46,000. b. Purchased used automobile for $30,000, paying $6,900 cash and giving a note payable for the remainder. c. Paid April rent for office and workroom, $4,600. d. Paid cash for...
Entries into accounts and Trial Balance Ken Jones, an architect, organized Jones Architects on April 1,...
Entries into accounts and Trial Balance Ken Jones, an architect, organized Jones Architects on April 1, 2018. During the month, Jones Architects completed the following transactions: a. Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $18,000. b. Purchased used automobile for $19,500, paying $2,500 cash and giving a note payable for the remainder. c. Pald Aprilrent for office and workroom, $3,150. d. Paid cash for supplies, $1,450....
Ken Jones, an architect, organized Jones Architects on April 1, 20Y2. During the month, Jones Architects...
Ken Jones, an architect, organized Jones Architects on April 1, 20Y2. During the month, Jones Architects completed the following transactions: a. Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $39,200. b. Purchased used automobile for $25,000, paying $5,900 cash and giving a note payable for the remainder. c. Paid April rent for office and workroom, $3,900. d. Paid cash for supplies, $1,880. e. Purchased office and computer...
Entries into T accounts and Trial Balance Marjorie Knaus, an architect, organized Knaus Architects on January...
Entries into T accounts and Trial Balance Marjorie Knaus, an architect, organized Knaus Architects on January 1, 20Y4. During the month, Knaus Architects completed the following transactions: Issued common stock to Marjorie Knaus in exchange for $30,000. Paid January rent for office and workroom, $2,500. Purchased used automobile for $28,500, paying $6,000 cash and giving a note payable for the remainder. Purchased office and computer equipment on account, $8,000. Paid cash for supplies, $2,100. Paid cash for annual insurance policies,...
Entries into T Accounts and Tral Balance Connie Young, an architect, opened an office on October...
Entries into T Accounts and Tral Balance Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice: a. Transferred cash from a personal bank account to an account to be used for the business, $39,700. b. Paid October rent for office and workroom, $4,000. c. Purchased used automobile for $26,000, paying $6,000 cash and giving a note payable for the remainder. d. Purchased office and computer...
Marjorie Knaus, an architect, organized Knaus Architects on January 1, 2014. During the month, Knaus Architects...
Marjorie Knaus, an architect, organized Knaus Architects on January 1, 2014. During the month, Knaus Architects completed the following transactions: a. Issued common stock to Marjorie Knaus in exchange for $30,000. b. Pald January rent for office and workroom, $2,500 c. Purchased used automobile for $28,500, paying $6,000 cash and giving a note payable for the remainder. d. Purchased office and computer equipment on account, $8,000. e. Paid cash for supplies, $2,100. f. Paid cash for annual insurance policies, $3,600....
Marjorie Knaus, an architect, organized Knaus Architects on January 1, 2018. During the month, Knaus Architects...
Marjorie Knaus, an architect, organized Knaus Architects on
January 1, 2018. During the month, Knaus Architects completed the
following transactions:
A.
Issued common stock to Marjorie
Knaus in exchange for $22,000.
B.
Paid January rent for office and
workroom, $1,650.
C.
Purchased used automobile for
$26,000, paying $4,800 cash and giving a note payable for the
remainder.
D.
Purchased office and computer
equipment on account, $5,600.
E.
Paid cash for supplies,
$1,250.
F.
Paid cash for annual insurance
policies, $3,000....
Ch 2 Written Problem 1 – Connie Young, Architect ACG 3074 Connie Young, an architect, opened...
Ch 2 Written Problem 1 – Connie Young, Architect ACG 3074 Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice: 1. Transferred cash from a personal bank account to an account to be used for the business, $36,000. 2. Paid October rent for office and workroom, $2,400. 3. Purchased used automobile for $32,800, paying $7,800 cash and giving a note payable for the remainder. 4....
Entries into T accounts and Trial Balance ken Jones, an architect, organized Jones Architects on April 1, 20Y2. During the month, Jones Architects completed the following transactions: a. Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $52,200. b. Purchased used automobile for $34,000, paying $7,800 cash and giving a note payable for the remainder. c. Paid April rent for office and workroom, $5,200 d. Paid cash for...
Entries into T accounts and Trial Balance Ken Jones, an architect, organized Jones Architects on April 1, 20Y2. During the month, Jones Architects completed the following transactions: a. Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $46,000. b. Purchased used automobile for $30,000, paying $6,900 cash and giving a note payable for the remainder. c. Paid April rent for office and workroom, $4,600. d. Paid cash for...
Entries into accounts and Trial Balance Ken Jones, an architect, organized Jones Architects on April 1, 2018. During the month, Jones Architects completed the following transactions: a. Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $18,000. b. Purchased used automobile for $19,500, paying $2,500 cash and giving a note payable for the remainder. c. Pald Aprilrent for office and workroom, $3,150. d. Paid cash for supplies, $1,450....
Ken Jones, an architect, organized Jones Architects on April 1, 20Y2. During the month, Jones Architects completed the following transactions: a. Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $39,200. b. Purchased used automobile for $25,000, paying $5,900 cash and giving a note payable for the remainder. c. Paid April rent for office and workroom, $3,900. d. Paid cash for supplies, $1,880. e. Purchased office and computer...
Entries into T Accounts and Tral Balance Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice: a. Transferred cash from a personal bank account to an account to be used for the business, $39,700. b. Paid October rent for office and workroom, $4,000. c. Purchased used automobile for $26,000, paying $6,000 cash and giving a note payable for the remainder. d. Purchased office and computer...
Marjorie Knaus, an architect, organized Knaus Architects on January 1, 2014. During the month, Knaus Architects completed the following transactions: a. Issued common stock to Marjorie Knaus in exchange for $30,000. b. Pald January rent for office and workroom, $2,500 c. Purchased used automobile for $28,500, paying $6,000 cash and giving a note payable for the remainder. d. Purchased office and computer equipment on account, $8,000. e. Paid cash for supplies, $2,100. f. Paid cash for annual insurance policies, $3,600....
Marjorie Knaus, an architect, organized Knaus Architects on
January 1, 2018. During the month, Knaus Architects completed the
following transactions:
A.
Issued common stock to Marjorie
Knaus in exchange for $22,000.
B.
Paid January rent for office and
workroom, $1,650.
C.
Purchased used automobile for
$26,000, paying $4,800 cash and giving a note payable for the
remainder.
D.
Purchased office and computer
equipment on account, $5,600.
E.
Paid cash for supplies,
$1,250.
F.
Paid cash for annual insurance
policies, $3,000....
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