1)
Cash | |||||
Sep-01 | B. Slater, Capital | $ 20,000.00 | Sep-01 | Prepaid Rent | $ 2,100.00 |
Sep-05 | Art Fees Earned | $ 7,000.00 | Sep-08 | Art-Supplies | $ 250.00 |
Sep-10 | Salaries Expense | $ 700.00 | |||
Sep-15 | B.Slater Withdrawals | $ 700.00 | |||
Sep-28 | Electrical Expense | $ 100.00 | |||
Sep-29 | Telephone expense | $ 200.00 | |||
Sep-30 | Ending Balance | $ 22,950.00 | |||
Total | $ 27,000.00 | Total | $ 27,000.00 | ||
$ - | |||||
B.Slater Capital | |||||
Sep-01 | Cash | $ 20,000.00 | |||
Sep-30 | Ending Balance | $ 20,000.00 | |||
Total | $ 20,000.00 | Total | $ 20,000.00 | ||
Prepaid Rent | |||||
Sep-01 | Cash | $ 2,100.00 | |||
Sep-30 | Ending Balance | $ 2,100.00 | |||
Total | $ 2,100.00 | Total | $ 2,100.00 | ||
Equipment | |||||
Sep-03 | Accounts Payable | $ 2,100.00 | |||
Sep-30 | Ending Balance | $ 2,100.00 | |||
Total | $ 2,100.00 | Total | $ 2,100.00 | ||
Accounts Payable | |||||
Sep-03 | Accounts Payable | $ 2,100.00 | |||
Sep-30 | Ending Balance | $ 2,100.00 | |||
Total | $ 2,100.00 | Total | $ 2,100.00 | ||
Art Fees Earned | |||||
Sep-05 | Cash | $ 7,000.00 | |||
Sep-30 | Ending Balance | $ 9,000.00 | Sep-09 | Accounts Receivable | $ 2,000.00 |
Total | $ 9,000.00 | Total | $ 9,000.00 | ||
Art-Supplies | |||||
Sep-08 | Cash | $ 250.00 | |||
Sep-30 | Ending Balance | $ 250.00 | |||
Total | $ 250.00 | Total | $ 250.00 | ||
Accounts Receivable | |||||
Sep-09 | Art Fees Earned | $ 2,000.00 | |||
Sep-30 | Ending Balance | $ 2,000.00 | |||
Total | $ 2,000.00 | Total | $ 2,000.00 | ||
Salaries Expense | |||||
Sep-10 | Cash | $ 700.00 | |||
Sep-30 | Ending Balance | $ 700.00 | |||
Total | $ 700.00 | Total | $ 700.00 | ||
B.Slater Withdrawals | |||||
Sep-15 | Cash | $ 700.00 | |||
Sep-30 | Ending Balance | $ 700.00 | |||
Total | $ 700.00 | Total | $ 700.00 | ||
Electrical Expense | |||||
Sep-28 | Cash | $ 100.00 | |||
Sep-30 | Ending Balance | $ 100.00 | |||
Total | $ 100.00 | Total | $ 100.00 | ||
Telephone expense | |||||
Sep-29 | Cash | $ 200.00 | |||
Sep-30 | Ending Balance | $ 200.00 | |||
Total | $ 200.00 | Total | $ 200.00 |
2)
Debit | Credit | ||
Sep-01 | Cash | $ 20,000.00 | |
B. Slater, Capital | $ 20,000.00 | ||
Sep-01 | Prepaid Rent | $ 2,100.00 | |
Cash | $ 2,100.00 | ||
Sep-03 | Equipment | $ 2,100.00 | |
Accounts Payable | $ 2,100.00 | ||
Sep-05 | Cash | $ 7,000.00 | |
Art Fees Earned | $ 7,000.00 | ||
Sep-08 | Art-Supplies | $ 250.00 | |
Cash | $ 250.00 | ||
Sep-09 | Accounts Receivable | $ 2,000.00 | |
Art Fees Earned | $ 2,000.00 | ||
Sep-10 | Salaries Expense | $ 700.00 | |
Cash | $ 700.00 | ||
Sep-15 | B.Slater Withdrawals | $ 700.00 | |
Cash | $ 700.00 | ||
Sep-28 | Electrical Expense | $ 100.00 | |
Cash | $ 100.00 | ||
Sep-29 | Telephone expense | $ 200.00 | |
Cash | $ 200.00 |
c)
Accounts | Debit | Credit |
Cash | $ 22,950.00 | |
B. Slater, Capital | $ 20,000.00 | |
Prepaid Rent | $ 2,100.00 | |
Equipment | $ 2,100.00 | |
Accounts Payable | $ 2,100.00 | |
Art Fees Earned | $ 9,000.00 | |
Art-Supplies | $ 250.00 | |
Accounts Receivable | $ 2,000.00 | |
Salaries Expense | $ 700.00 | |
B.Slater Withdrawals | $ 700.00 | |
Electrical Expense | $ 100.00 | |
Telephone expense | $ 200.00 | |
Total | $ 31,100.00 | $ 31,100.00 |
3A-2. On September 1, 201X, Brittney Slater opened Brittney's Art Studio. The L01,2,3 4 following transactions...
3A-2. On September 1, 201X, Brittney Slater opened Brittney's Art Studio. The L01,2,3 4 following transactions occurred in September: S50/QB 201X Sept. 1 Brittney Slater invested $20,000 in the art studio. 1 Paid 10 months rent in advance, $2,100 3 Purchased $2,100 of equipment from Ushem Co. on account. 5 Received $7,000 cash for art-training workshop for teachers. 8 Purchased art supplies for $250 cash. 9 Billed Simon Co. $2,000 for group art lesson for its employees. Check Figure: Trial...
3A-2. On September 1, 201X, Brittney Slater opened Brittney's Art Studio. The L01,2,3 4 following transactions occurred in September: S50/QB 201X Sept. 1 Brittney Slater invested $20,000 in the art studio. 1 Paid 10 months rent in advance, $2,100 3 Purchased $2,100 of equipment from Ushem Co. on account. 5 Received $7,000 cash for art-training workshop for teachers. 8 Purchased art supplies for $250 cash. 9 Billed Simon Co. $2,000 for group art lesson for its employees. Check Figure: Trial...
Expense, 314. 38-2. On November 1, 201X, Barbie Riley opened Barbie's Art Studio. The follow ing transactions occurred in November. .O L01, 2, 3 (45 MIN) PT/QB 201X Nov. 1 Barbie Riley invested $8,000 in the art studio. 1 Paid ten months' rent in advance, $2,800. 3 Purchased $1,200 of equipment from Omni Co. on account. 5 Received $900 cash for art training workshop for teachers. 8 Purchased $450 of art supplies for cash. 9 Billed Howie Co. $2,500 for...
(45 min) L01,2,3 The following transactions occurred in November 201X for A. Hopper's Placement Agency: 3B-3. 201X Nov. 1 A. Hopper invested $15,000 cash in the placement agency. 1 Bought equipment from Tiger Co. for $2,100 on account. 3 Earned placement fees of $3,300, but payment will not be received until December. 5 A. Hopper withdrew $1,000 for personal use. 7 Paid wages expense, $400. 9 Placed a client on a local TV show, receiving $14,000 cash. Check Figure: Total...
Ajayi Art, Inc. opened for business on April 1st.
Listed below are the transactions for Ajayi Art, Inc. for the month
of April:
April 1 Issued common stock in exchange for $250,000 cash.
April 1 Purchased office equipment for $17,500 cash.
April 1 Borrowed $20,000 from Novus Bank and signed a 10% note.
Interest and principal to be paid in 12 months.
April 5 Paid $4,000 rent in advance for the art gallery for the
next two months.
April 10...
1. Sanchez Computer Center, continued. At the end of September, Tony took a complete inventory of his supplies and found the following: 5 dozen ¼" screws at a cost of $8.00 a dozen 2 dozen ½" screws at a cost of $5.00 a dozen 2 cartons of computer inventory paper at a cost of $14 a carton 3 feet of coaxial cable at a cost of $4.00 per foot After speaking to his accountant, he found...
Ajayi Art, Inc. opened for business on April 1st. Listed below are the transactions for Ajayi Art, Inc. for the month of April April 1 Issued common stock in exchange for $250,000 cash April 1 Purchased office equipment for $17,500 cash. . April 1 Borrowed $20,000 from Novus Bank and signed a 10% note. Interest and principal to be paid in 12 months. April 5 Paid $4,000 rent in advance for the art gallery for the next two months. April...
Part A
Ajayi Art, Inc. opened for business on April 1st.
Listed below are the transactions for Ajayi Art, Inc. for the month
of April:
April 1 Issued common stock in exchange for $250,000 cash.
April 1 Purchased office equipment for $17,500 cash.
April 1 Borrowed $20,000 from Novus Bank and signed a 10% note.
Interest and principal to be paid in 12 months.
April 5 Paid $4,000 rent in advance for the art gallery for the
next two months....
AT Corp. opened for business on April 1st. Listed below are the transactions for AT Corp. for the month of April: April 1 Issued common stock in exchange for $250,000 cash. April 1 Purchased office equipment for $17,500 cash. April 1 Borrowed $20,000 from Venn Bank and signed a 10% note. Interest and principal to be paid in 12 months. April 5 Paid $4,000 rent in advance for the art gallery for the next two months. April 10 Purchased art...
P2-30A Journalizing transactions, posting journal entries to T-accounts, and
Learning
preparing a trial balance
Doris Stewart started her practice as a design consultant on September 1, 2015. During
the first month of operations, the business completed the following transactions:
4
Total
Sep. 1 Received $42,000 cash and gave capital to Stewart.
4
Purchased office supplies, $700, and furniture, $1,900, on account.
6 Performed services for a law firm and received $1,400 cash.
7
Paid $24,000 cash to acquire land to...