Homework Answers
|
Cash |
|||
|
1. |
5600 |
4600 |
2. |
|
5. |
5200 |
600 |
4. |
|
800 |
6. |
||
|
3300 |
7. |
||
|
End. Bal. |
1500 |
|
Equipment |
|||
|
1. |
6000 |
||
|
7. |
3300 |
||
|
End. Bal. |
9300 |
|
Common stock |
|||
|
22700 |
1. |
||
|
End. Bal. |
22700 |
|
supplies |
|||
|
3. |
800 |
||
|
End. Bal. |
800 |
|
Web servers |
|||
|
1. |
11100 |
||
|
End. Bal. |
11100 |
|
Service revenue |
|||
|
5200 |
5. |
||
|
End. Bal. |
5200 |
|
Prepaid insurance |
|||
|
2. |
4600 |
||
|
End. Bal. |
4600 |
|
Accounts payable |
|||
|
6. |
800 |
800 |
3. |
|
End. Bal. |
0 |
0 |
|
Selling expenses |
|||
|
4. |
600 |
||
|
End. Bal. |
600 |
Cash receipts are not left side and cash payments on right side
Expenses and assets are debited
Revenue and liabilities are credited
Add Answer to:
Fill in each of the following T-accounts for Belle Co.'s seven transactions listed here. The T-accounts...
Fill in each of the following T-accounts for Belle Co.’s seventransactions listed here. The T-accounts...
Fill in each of the following T-accounts for Belle Co.’s seven
transactions listed here. The T-accounts represent Belle Co.’s
general ledger. Code each entry with transaction number 1 through 7
(in order) for reference.D. Belle created a new business and invested $6,000 cash,
$7,600 of equipment, and $12,000 in web servers in exchange for
common stock.The company paid $4,800 cash in advance for prepaid insurance
coverage.The company purchased $900 of supplies on account.The company paid $800 cash for selling expenses.The...
Assume the following T-accounts reflect Belle Co.'s general ledger and its first seven transactions a through...
Assume the following T-accounts reflect Belle Co.'s general ledger and its first seven transactions a through g, which are posted to them. Supplies Prepaid Insurance 6,000 9,60 700 BB 3,200 Equipment 6,400 Accounts Payable 800() Common Stock — Selling Expenses 780 5,400 d Identify the explanation from 1 through 7 below that best describes each transaction a through g reflected in the T-accounts. 1. The company paid $6.000 cash in advance for prepaid insurance coverage D. Bebe created a new...
need help on this 1. D. Belle created a new business and invested $6,000 cash. $7600...
need help on this
1. D. Belle created a new business and invested $6,000 cash. $7600 of equipment, and $12,000 in web servers in exchange for common stock 2. The company paid $4,800 cash in advance for prepaid Insurance coverage. 3. The company purchased $900 of supplies on account. 4. The company paid $800 cash for selling expenses. 5. The company received $4,500 cash for services provided. 6. The company paid $900 cash toward accounts payable 7. The company paid...
Post the unadjusted balances and adjusted entries into the appropriate t-accounts Required information [The following information...
Post the unadjusted balances and adjusted entries into the
appropriate t-accounts
Required information [The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Account Title Debits Credits Cash 32,600 41,000 2,000 61,000 Accounts receivable Supplies Inventory Notes receivable Interest receivable 21,000 Prepaid rent Prepaid insurance office equipment Accumulated depreciation...
Requirements 2 and 3. Prepare T-Accounts for each account. Insert in each T-account its September 30...
Requirements 2 and 3. Prepare T-Accounts for
each account. Insert in each T-account its September 30 balance as
given (example: Cash $2,300). Then, post the October transactions
to the T-accounts. Compute the balance in each account.
Common Stock Bal Bal (a) (b) 8,500 4,3001 Cash 23001 4,3001 6,400 (c) 14001 (th) 50001 (e) 4,400 1,700 3,300 Bal Bal 10809 Accounts Receivable 3,500 (e) Retained Eamings Bal Bal 2,8001 1,400 Bal 21001 Supplies Dividends Service Revenue Equipment 11,500 Bal Rent Expense...
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...
so these t-accounts Two employees have been hired, at a monthly salary of $2,100 each. The...
so these t-accounts
Two employees have been hired, at a monthly salary of $2,100 each. The following transactions occurred during January of the current year. NNNNNN $4,200 is paid for 12 months' Insurance starting January 1. (Record as an asset.) 53,600 is paid for 12 months of rent beginning January 1. (Record as an asset.) FDI borrows $30,000 cash from First State Bank at 4% annual interest; this note is payable in two years. A delivery van is purchased using...
Halogen Laminated Products Company began business on January 1, 2021. During January, the following transactions occurred:...
Halogen Laminated Products Company began business on January 1, 2021. During January, the following transactions occurred: Jan. 1 Issued common stock in exchange for $118,000 cash. 2 Purchased inventory on account for $27,000 (the perpetual inventory system is used). 4 Paid an insurance company $1,440 for a one-year insurance policy. Prepaid insurance was debited for the entire amount. 10 Sold merchandise on account for $11,200. The cost of the merchandise was $6,200. 15 Borrowed $22,000 from a local bank and...
Great Solutions was incorporated as a private company. The company's accounts included the following at June...
Great Solutions was incorporated as a private company. The
company's accounts included the following at June 30:
Accounts Payable 24,900
Buildings 196,000
Cash 56,750
Common Stock 160,000
Equipment 148,000
Land 201,000
Notes Payable(long-term) 3,050
Retained Earnings 423,500
Supplies 9,700
During the month of July, Great Solutions had the
following activities:
a) Issued 5,600 shares of common stock for $560,000 cash.
b) Borrowed $106,000 cash from a local bank, payable in 2
years.
c) Bought a building for $240,250; paid $90,250...
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...
Fill in each of the following T-accounts for Belle Co.’s seven
transactions listed here. The T-accounts represent Belle Co.’s
general ledger. Code each entry with transaction number 1 through 7
(in order) for reference.D. Belle created a new business and invested $6,000 cash,
$7,600 of equipment, and $12,000 in web servers in exchange for
common stock.The company paid $4,800 cash in advance for prepaid insurance
coverage.The company purchased $900 of supplies on account.The company paid $800 cash for selling expenses.The...
Assume the following T-accounts reflect Belle Co.'s general ledger and its first seven transactions a through g, which are posted to them. Supplies Prepaid Insurance 6,000 9,60 700 BB 3,200 Equipment 6,400 Accounts Payable 800() Common Stock — Selling Expenses 780 5,400 d Identify the explanation from 1 through 7 below that best describes each transaction a through g reflected in the T-accounts. 1. The company paid $6.000 cash in advance for prepaid insurance coverage D. Bebe created a new...
need help on this
1. D. Belle created a new business and invested $6,000 cash. $7600 of equipment, and $12,000 in web servers in exchange for common stock 2. The company paid $4,800 cash in advance for prepaid Insurance coverage. 3. The company purchased $900 of supplies on account. 4. The company paid $800 cash for selling expenses. 5. The company received $4,500 cash for services provided. 6. The company paid $900 cash toward accounts payable 7. The company paid...
Post the unadjusted balances and adjusted entries into the
appropriate t-accounts
Required information [The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Account Title Debits Credits Cash 32,600 41,000 2,000 61,000 Accounts receivable Supplies Inventory Notes receivable Interest receivable 21,000 Prepaid rent Prepaid insurance office equipment Accumulated depreciation...
Requirements 2 and 3. Prepare T-Accounts for
each account. Insert in each T-account its September 30 balance as
given (example: Cash $2,300). Then, post the October transactions
to the T-accounts. Compute the balance in each account.
Common Stock Bal Bal (a) (b) 8,500 4,3001 Cash 23001 4,3001 6,400 (c) 14001 (th) 50001 (e) 4,400 1,700 3,300 Bal Bal 10809 Accounts Receivable 3,500 (e) Retained Eamings Bal Bal 2,8001 1,400 Bal 21001 Supplies Dividends Service Revenue Equipment 11,500 Bal Rent Expense...
so these t-accounts
Two employees have been hired, at a monthly salary of $2,100 each. The following transactions occurred during January of the current year. NNNNNN $4,200 is paid for 12 months' Insurance starting January 1. (Record as an asset.) 53,600 is paid for 12 months of rent beginning January 1. (Record as an asset.) FDI borrows $30,000 cash from First State Bank at 4% annual interest; this note is payable in two years. A delivery van is purchased using...
Halogen Laminated Products Company began business on January 1, 2021. During January, the following transactions occurred: Jan. 1 Issued common stock in exchange for $118,000 cash. 2 Purchased inventory on account for $27,000 (the perpetual inventory system is used). 4 Paid an insurance company $1,440 for a one-year insurance policy. Prepaid insurance was debited for the entire amount. 10 Sold merchandise on account for $11,200. The cost of the merchandise was $6,200. 15 Borrowed $22,000 from a local bank and...
Great Solutions was incorporated as a private company. The
company's accounts included the following at June 30:
Accounts Payable 24,900
Buildings 196,000
Cash 56,750
Common Stock 160,000
Equipment 148,000
Land 201,000
Notes Payable(long-term) 3,050
Retained Earnings 423,500
Supplies 9,700
During the month of July, Great Solutions had the
following activities:
a) Issued 5,600 shares of common stock for $560,000 cash.
b) Borrowed $106,000 cash from a local bank, payable in 2
years.
c) Bought a building for $240,250; paid $90,250...
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...
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