madrid industries purchased supplies for $1,200. They paid $500 in cash and agreed to pay the...
Homework Answers
Answer :- Credit an asset account for $500
The journal entry would be :-
Supplies a/c Dr. $1200
To Accounts payable(liability) A/c. $700
To Cash (asset) A/c $500
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madrid industries purchased supplies for $1,200. They paid $500 in
cash and agreed to pay the...
1. Grayton Industries purchased supplies for $1,300. They paid $500 in cash and agreed to pay...
1. Grayton Industries purchased supplies for $1,300. They paid $500 in cash and agreed to pay the balance in 30 days. The journal entry to record this transaction would include a debit to an asset account for $1,300, a credit to cash account for $500. Which of the following would be the correct way to complete the recording of the transaction? a. Credit the Grayton, Capital account for $500. b. Debit the Grayton, Capital account for $500. c. Credit an...
Arthur Industries entered into the following transactions during the month of June. A Purchased supplies for...
Arthur Industries entered into the following transactions during the month of June. A Purchased supplies for $4200 cash. B. Paid $4,380 for salaries and wages for the month of June. C. Paid $440 in advance for July rent. D. Provided $12,600 in services on account. E Paid $500 on accounts payable. F. Received $290 from customers as deposits for future services. G. Received a bill for $440 from the plumber who repaired a broken pipe in the restrooms, but will...
On January 7, a corporation purchased supplies of $1,200. At the end of the month it...
On January 7, a corporation purchased supplies of $1,200. At the end of the month it was determined that the supplies at the end of the period was only $200. What is the ADJUSTING entry that should be recorded as a result of this information? Debit supplies; credit supplies expense Debit supplies expense; credit Supplies Debit accounts receivable; credit Supplies expense Debit supplies ; credit cash Adjusting journal entries are divided into two main categories. What are these called? Depreciation...
Arthur Industries entered into the following transactions during the month of June. A Purchased supplies for...
Arthur Industries entered into the following transactions during the month of June. A Purchased supplies for $5,200 cash. B. Paid $4.480 for salaries and wages for the month of June. C. Paid $560 in advance for July rent. D. Provided $12,200 in services on account E Paid $500 on accounts payable. F. Received $190 from customers as deposits for future services. G. Received a bill for $470 from the plumber who repaired a broken pipe in the restrooms, but will...
11A. Rapid Way Printing Services purchased $6,000 of printing supplies for cash, recording the transaction using...
11A. Rapid Way Printing Services purchased $6,000 of printing supplies for cash, recording the transaction using the alternative treatment for deferred expenses. At the end of the year, Rapid Way had $350 of printing supplies remaining. Record the journal entry for the purchase of printing supplies and the adjusting entry for printing supplies not used. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First record the journal entry for the purchase...
On January 14, Bramble Industries purchased supplies of $680 on account. The entry to record the...
On January 14, Bramble Industries purchased supplies of $680 on account. The entry to record the purchase will include a debit to Supplies and a credit to Cash. a debit to Supplies and a credit to Accounts Payable. a debit to Accounts Receivable and a credit to Supplies. a debit to Supplies Expense and a credit to Accounts Receivable. Save for Later
A. Issued a check for $990 to pay the monthly rent Issued a $1,200 check to...
A. Issued a check for $990 to pay the monthly rent Issued a $1,200 check to pay a creditor on account. C. Purchased new equipment for $360 and pal $05 mmediately by check with the remainder due In 30 d in 30 days D. Provided services on credit in the amount of $840. E. Performed services for cash in the amount of $1,280. F. The owner made an additional investment of $5,400 in cash and $950 in equipment G. Purchased...
A company had the following transactions 1 Paid $150 for office supplies using a debit card....
A company had the following transactions 1 Paid $150 for office supplies using a debit card. 2 Purchased office equipment costing $700 using a credit card 3. Paid utilities bill of $400 by issuing a check. Record each transaction. (If no entry is required for a transactionlevent, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record $150 purchase of office supplies using a debit card. Note: Enter debits before credits Transaction General...
11A. Print It Printing Services purchased $4,000 of printing supplies for cash, recording the transaction using...
11A. Print It Printing Services purchased $4,000 of printing supplies for cash, recording the transaction using the alternative treatment for deferred expenses. At the end of the year, Print It had $400 of printing supplies remaining. Record the journal entry for the purchase of printing supplies and the adjusting entry for printing supplies not used. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First record the journal entry for the purchase...
Saved A company had the following transactions 1 Paid $160 for office supplies using a debit...
Saved A company had the following transactions 1 Paid $160 for office supplies using a debit card 2. Purchased office equipment costing $710 using a credit card 3. Paid utilitie bill of $450 by issuing a check Record each transaction. (If no entry is required for a trensaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record $160 purchase of office supplies using a debit card. Note: Enter debits before credits....
Arthur Industries entered into the following transactions during the month of June. A Purchased supplies for $4200 cash. B. Paid $4,380 for salaries and wages for the month of June. C. Paid $440 in advance for July rent. D. Provided $12,600 in services on account. E Paid $500 on accounts payable. F. Received $290 from customers as deposits for future services. G. Received a bill for $440 from the plumber who repaired a broken pipe in the restrooms, but will...
Arthur Industries entered into the following transactions during the month of June. A Purchased supplies for $5,200 cash. B. Paid $4.480 for salaries and wages for the month of June. C. Paid $560 in advance for July rent. D. Provided $12,200 in services on account E Paid $500 on accounts payable. F. Received $190 from customers as deposits for future services. G. Received a bill for $470 from the plumber who repaired a broken pipe in the restrooms, but will...
11A. Rapid Way Printing Services purchased $6,000 of printing supplies for cash, recording the transaction using the alternative treatment for deferred expenses. At the end of the year, Rapid Way had $350 of printing supplies remaining. Record the journal entry for the purchase of printing supplies and the adjusting entry for printing supplies not used. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First record the journal entry for the purchase...
On January 14, Bramble Industries purchased supplies of $680 on account. The entry to record the purchase will include a debit to Supplies and a credit to Cash. a debit to Supplies and a credit to Accounts Payable. a debit to Accounts Receivable and a credit to Supplies. a debit to Supplies Expense and a credit to Accounts Receivable. Save for Later
A. Issued a check for $990 to pay the monthly rent Issued a $1,200 check to pay a creditor on account. C. Purchased new equipment for $360 and pal $05 mmediately by check with the remainder due In 30 d in 30 days D. Provided services on credit in the amount of $840. E. Performed services for cash in the amount of $1,280. F. The owner made an additional investment of $5,400 in cash and $950 in equipment G. Purchased...
A company had the following transactions 1 Paid $150 for office supplies using a debit card. 2 Purchased office equipment costing $700 using a credit card 3. Paid utilities bill of $400 by issuing a check. Record each transaction. (If no entry is required for a transactionlevent, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record $150 purchase of office supplies using a debit card. Note: Enter debits before credits Transaction General...
11A. Print It Printing Services purchased $4,000 of printing supplies for cash, recording the transaction using the alternative treatment for deferred expenses. At the end of the year, Print It had $400 of printing supplies remaining. Record the journal entry for the purchase of printing supplies and the adjusting entry for printing supplies not used. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First record the journal entry for the purchase...
Saved A company had the following transactions 1 Paid $160 for office supplies using a debit card 2. Purchased office equipment costing $710 using a credit card 3. Paid utilitie bill of $450 by issuing a check Record each transaction. (If no entry is required for a trensaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record $160 purchase of office supplies using a debit card. Note: Enter debits before credits....
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