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Problem 7: Record the transactions summarized below on a transactions worksheet and calculate the soul...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr.1 Roulstone contributed $34,500 cash to the business in exchange for common stock. Paid $18,300 cash for the purchase of a used truck. Purchased $9,300 of ladders and other equipment; the company paid $1,000 cash, with the balance due in 30 days. Paid $8,640 cash for two-year (or 24-month) premium toward liability insurance. Purchased $3,600 of supplies on credit. Received an...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr 1 Roulstone contributed $11.500 cash to the business in exchange for common stock. 2 Paid 56,100 cash for the purchase of a used truck. 2 Purchased 53.100 of ladders and other equipment the company paid $1.000 cash with the balance due in 30 days. 3 Paid $2,880 cash for two-year (or 24-month) premium toward liability insurance. 5 Purchased $1,200 of...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr.1 Roulstone contributed $34,500 cash to the business in exchange for common stock. Paid $18,300 cash for the purchase of a used truck. Purchased $9,300 of ladders and other equipment; the company paid $1,000 cash, with the balance due in 30 days. Paid $8,640 cash for two-year (or 24-month) premium toward liability insurance. Purchased $3,600 of supplies on credit. Received an...
LO2 M3-21. Journalizing Transactions in Template, Journal Entry Form, and T-Accounts Creative Designs, a firm providing...
LO2 M3-21. Journalizing Transactions in Template, Journal Entry Form, and T-Accounts Creative Designs, a firm providing art services for advertisers, began business on June 1,2015. The following transactions occurred during the month of Junc. June Anne Clem invested $12,000 cash to begin the business in exchange for common stock 2 Paid $950 cash for June rent. Chapter 3 Adjusting Accounts for Financial Statements131 Purchased $6,400 of office equipment on account 6 Purchased S3,800 of art materials and other supplies; paid...
i need help with 3-7 please. thanks! The requirements for this problem: 1. Record cach transaction...
i need help with 3-7 please. thanks!
The requirements for this problem: 1. Record cach transaction as a journal entry. 2. Post the transactions to T-accounts using the following chart of accounts. Cash Accounts Receivable Office Supplies Prepaid Insurance Truck Accumulated Deprec.- Truck Accounts Payable Salaries Payable Unearned Revenue Taylor, Capital Taylor, Withdrawals Income Summary Service Revenue Salaries Expense Rent Expense Deprec. Expense- Truck Insurance Expense Fuel Expense Off, Supplies Expense Advertising Expense 3. Prepare an unadjusted trial balance as...
Roth Contractors Corporation was incorporated on December 1, 2019. Required. Part A 1 Prepare journal entries to record...
Roth Contractors Corporation was incorporated on December 1, 2019. Required. Part A 1 Prepare journal entries to record the December transactions shown on page "Transactions Pt. A". General ledger account numbers and descriptions are not needed. 2 Post the entries to general ledger T-accounts. Part B Prepare all necessary adjusting entries based on the information shown on the printed "Adj. Entries Pt. B" page. General ledger account numbers and descriptions are not necessary. 4 Post the entries to general ledger...
Mike Greenberg opened Flounder Window Washing Inc. on July 1, 2022. During July, the following transactions...
Mike Greenberg opened
Flounder
Window Washing Inc. on July 1, 2022. During July, the following
transactions were completed.
July 1
Issued
10,100 shares of common stock for
$10,100 cash.
1
Purchased used truck for $6,720,
paying $1,680 cash and the balance
on account.
3
Purchased cleaning supplies for $760 on account.
5
Paid
$1,560 cash on a 1-year insurance
policy effective July 1.
12
Billed
customers $3,110 for cleaning
services performed.
18
Paid
$840 cash on amount owed on truck...
Turner Engineering completed the following transactions in the month of June. Using the following transactions, record...
Turner Engineering completed the following transactions in the month of June. Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. Jun. 1 Tony Turner, the owner, invested $144,000 cash, office equipment with a value of $16,000, and 582,000 of drafting equipment to launch the company. Jun. 2 The company purchased land worth $60,000 for an office by paying $21,700 cash and signing a long-tern note payable for $38,300....
CP 2-4 Required: Record the debit and credit in the appropriate account for each of the...
CP 2-4 Required: Record the debit and credit in the appropriate account for each of the following transactions (transaction 1 is done for you): Debit Cash Credit Common Stock 1. Issued common stock for cash 2. Purchased equipment on credit 3. Paid for a one-year insurance policy 4. Billed a customer for repairs completed today 5. Paid this month's rent 6. Collected the amount billed in transaction 4 above 7. Collected cash for repairs completed today 8. Paid for the...
CP 2-4 Required: Record the debit and credit in the appropriate account for each of the...
CP 2-4 Required: Record the debit and credit in the appropriate account for each of the following transactions (transaction 1 is done for you): Debit Credit Common Stock 1. Issued common stock for cash Cash 2. Purchased equipment on credit 3. Paid for a one-year insurance policy 4. Billed a customer for repairs completed today 5. Paid this month's rent 6. Collected the amount billed in transaction 4 above 7. Collected cash for repairs completed today 8. Paid for the...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr.1 Roulstone contributed $34,500 cash to the business in exchange for common stock. Paid $18,300 cash for the purchase of a used truck. Purchased $9,300 of ladders and other equipment; the company paid $1,000 cash, with the balance due in 30 days. Paid $8,640 cash for two-year (or 24-month) premium toward liability insurance. Purchased $3,600 of supplies on credit. Received an...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr 1 Roulstone contributed $11.500 cash to the business in exchange for common stock. 2 Paid 56,100 cash for the purchase of a used truck. 2 Purchased 53.100 of ladders and other equipment the company paid $1.000 cash with the balance due in 30 days. 3 Paid $2,880 cash for two-year (or 24-month) premium toward liability insurance. 5 Purchased $1,200 of...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr.1 Roulstone contributed $34,500 cash to the business in exchange for common stock. Paid $18,300 cash for the purchase of a used truck. Purchased $9,300 of ladders and other equipment; the company paid $1,000 cash, with the balance due in 30 days. Paid $8,640 cash for two-year (or 24-month) premium toward liability insurance. Purchased $3,600 of supplies on credit. Received an...
LO2 M3-21. Journalizing Transactions in Template, Journal Entry Form, and T-Accounts Creative Designs, a firm providing art services for advertisers, began business on June 1,2015. The following transactions occurred during the month of Junc. June Anne Clem invested $12,000 cash to begin the business in exchange for common stock 2 Paid $950 cash for June rent. Chapter 3 Adjusting Accounts for Financial Statements131 Purchased $6,400 of office equipment on account 6 Purchased S3,800 of art materials and other supplies; paid...
i need help with 3-7 please. thanks!
The requirements for this problem: 1. Record cach transaction as a journal entry. 2. Post the transactions to T-accounts using the following chart of accounts. Cash Accounts Receivable Office Supplies Prepaid Insurance Truck Accumulated Deprec.- Truck Accounts Payable Salaries Payable Unearned Revenue Taylor, Capital Taylor, Withdrawals Income Summary Service Revenue Salaries Expense Rent Expense Deprec. Expense- Truck Insurance Expense Fuel Expense Off, Supplies Expense Advertising Expense 3. Prepare an unadjusted trial balance as...
Roth Contractors Corporation was incorporated on December 1, 2019. Required. Part A 1 Prepare journal entries to record the December transactions shown on page "Transactions Pt. A". General ledger account numbers and descriptions are not needed. 2 Post the entries to general ledger T-accounts. Part B Prepare all necessary adjusting entries based on the information shown on the printed "Adj. Entries Pt. B" page. General ledger account numbers and descriptions are not necessary. 4 Post the entries to general ledger...
Mike Greenberg opened
Flounder
Window Washing Inc. on July 1, 2022. During July, the following
transactions were completed.
July 1
Issued
10,100 shares of common stock for
$10,100 cash.
1
Purchased used truck for $6,720,
paying $1,680 cash and the balance
on account.
3
Purchased cleaning supplies for $760 on account.
5
Paid
$1,560 cash on a 1-year insurance
policy effective July 1.
12
Billed
customers $3,110 for cleaning
services performed.
18
Paid
$840 cash on amount owed on truck...
Turner Engineering completed the following transactions in the month of June. Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. Jun. 1 Tony Turner, the owner, invested $144,000 cash, office equipment with a value of $16,000, and 582,000 of drafting equipment to launch the company. Jun. 2 The company purchased land worth $60,000 for an office by paying $21,700 cash and signing a long-tern note payable for $38,300....
CP 2-4 Required: Record the debit and credit in the appropriate account for each of the following transactions (transaction 1 is done for you): Debit Cash Credit Common Stock 1. Issued common stock for cash 2. Purchased equipment on credit 3. Paid for a one-year insurance policy 4. Billed a customer for repairs completed today 5. Paid this month's rent 6. Collected the amount billed in transaction 4 above 7. Collected cash for repairs completed today 8. Paid for the...
CP 2-4 Required: Record the debit and credit in the appropriate account for each of the following transactions (transaction 1 is done for you): Debit Credit Common Stock 1. Issued common stock for cash Cash 2. Purchased equipment on credit 3. Paid for a one-year insurance policy 4. Billed a customer for repairs completed today 5. Paid this month's rent 6. Collected the amount billed in transaction 4 above 7. Collected cash for repairs completed today 8. Paid for the...
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