Journal entries
Date | account and explanation | debit | credit |
May 1 | Prepaid rent | 12000 | |
Cash | 12000 | ||
(To record rent paid in advance) | |||
May 6 | Cleaning equipment | 6000 | |
Account payable | 6000 | ||
(To record purchase equipment) | |||
May 12 | Cleaning supplies | 1000 | |
Cash | 1000 | ||
(To record purchase cleaning supplies) | |||
May 14 | Cash | 1900 | |
Cleaning fees earned | 1900 | ||
(To record cleaning fees earned) | |||
May 20 | Jarad Stone's withdrawals | 450 | |
Cash | 450 | ||
(To record withdrawals) | |||
May 21 | Advertising expense | 300 | |
Account payable | 300 | ||
(To record advertising expense) | |||
May 25 | Electrical Expenses | 80 | |
Cash | 80 | ||
(To record expense paid) | |||
May 28 | Salaries expense | 1100 | |
Cash | 1100 | ||
(To record salary expense paid) | |||
may 29 | Account receivable | 1800 | |
Cleaning fees earned | 1800 | ||
(To record cleaning fees) | |||
May 30 | Account payable (6000/2) | 3000 | |
cash | 3000 | ||
(To record amount paid) | |||
CHAPTER 3 Beginning the Accounting Cycle 97 Set B 3B- Jarad Stone operates Jarad's Cleaning Service....
(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...
Q1) Journalize the transaction. 2012 Aug. 1 6 12 14 20 Paid 2 months' rent in advance, $8,000. Purchased cleaning equipment on account from Gavin's Supply House, $9,000. Purchased cleaning supplies from Louiseville's Wholesale for $500 cash. Received $2,500 cash from cleaning fees earned. Jay withdrew $250 for personal use. Advertising bill received from Sary News but unpaid, $500. Paid electrical expense, $100. Paid salaries expense, $700. Performed cleaning work for $2,500, but payment will not be received until October....
As the bookkeeper of Phil's Plowing, you have been asked to complete the entire accounting cycle for Phil from the following information. 201X Mar. Phil invested $11,000 cash and $6,000 worth of snow equipment into the plowing 1 сompany. Paid 3 months' rent in advance for garage space, $1,200. 1. Purchased office equipment from Lite Corp. for $10,800 on account. 6 Purchased snow supplies for $1,100 cash. Collected $10,000 from plowing local shopping centers. 8 Phil Mack withdrew $6,000 from...
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...
create general journal and ledger Practice Set: Gloria Spencer owns a company called Gloria's Cleaning Service, which specializes in cleaning homes. You have been hired by Gloria as her bookkeeper. After talking to Gloria, you prepare her chart of accounts: Gloria's Cleaning Service Chart of Accounts Account # Account Name 101 Cash 102 Accounts Receivable 103 Supplies 201 Accounts Payable 202 Wages Payable 301 G. Spencer, Capital 302 G. Spencer, Drawing 401 Service Revenue 501 Rent Expense 502 Wages Expense...
Chapter 4 The Accounting Cycle 219 PR 4-5A Complete accounting cycle Obj. 4,5 For the past several years, Steffy Lope has operated a part-time consulting business from his home. As of July 1, 20Y2 Steffy decided to move to rented quarters and to operate the business, which was to be known as Diamond Consulting on a full-time basis. Diamond entered into the following transactions during July July 1. The following assets were received from Steffy Loper in exchange for common...
Comprehensive Problem: Review of the Accounting Cycle for a Service Company Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during its first month of operations. The company uses the calendar year as its reporting period. During December, the company completed the following transactions. Dec. Summary of Transactions: Stockholders invested $14,000 cash in the business in exchange for common stock. Dec. 2 Purchased a used truck for $10,000, paying $3,000 cash and the balance...
Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Jason Payne, Capital; Jason Payne, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense. Transactions Oct. 1 3 6 10 15 27 30 31 31 31 Paid rent for the month, $2,300. Paid advertising expense, $700. Paid cash for supplies, $1,250. Purchased office equipment on account, $9,600. Received cash from customers on account, $17,000. Paid creditors on account, $3,180. Paid...
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...