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Following are transactions for Valdez Services, a company owned by Brina Valdez. a. Brina Valdez invested...
Following are transactions for Valdez Services, a company owned by Brina Valdez. a. Brina Valdez invested...
Following are transactions for Valdez Services, a company owned by Brina Valdez.a. Brina Valdez invested $20,000 cash in the company.b. The company provided services to a client and immediately received $900 cash.c. The company received $10,000 cash from a client in payment for services to be provided next year.d. The company received $3,500 cash from a client in partial payment of accounts receivable.e. The company borrowed $5,000 cash from the bank by signing a note payable.1. Prepare general journal entries...
Following are the transactions for Valdez Services a. The company paid $2.000 cash for payment on...
Following are the transactions for Valdez Services.a. The company paid $2000 cash for payment on a 3 -month-old account payable for office supplies.b. The company paid $2200 cash for the just completed two-week salary of the receptionist.c. The company paid $50.000 cash for equipment purchased.d. The company paid $800 cash for this month's utilities.e. The company paid a $5.000 cash dividend to the owner (sole shareholder).1. Prepare general journal entries for the above transactions of Valdez Services.2. Listed below are...
Following are transactions for Dana Services (a corporation), Which uses monthly accounting periods a. Shareholders invested...
Following are transactions for Dana Services (a corporation), Which uses monthly accounting periods a. Shareholders invested $38 250 cash in the company b. The company provided $1 350 of services on credit C. The company provided services to a client and immediately received $1,575 cash d. The company received 59,150 cash from a client in payment for services to be provided next year e. The company received S4 500 cash from a client in partial payment of an account receivable...
The transactions of Spade Company appear below. Kacy Spade, owner, invested $14,500 cash in the company...
The transactions of Spade Company appear below.
Kacy Spade, owner, invested $14,500 cash in the company in
exchange for common stock.
The company purchased office supplies for $421 cash.
The company purchased $8,019 of office equipment on
credit.
The company received $1,711 cash as fees for services provided
to a customer.
The company paid $8,019 cash to settle the payable for the
office equipment purchased in transaction c.
The company billed a customer $3,074 as fees for services
provided.
The...
Following are the transactions for Valdez Services. a. The company paid $2,000 cash for payment on...
Following are the transactions for Valdez Services.a. The company paid $2,000 cash for payment on a 6 -month-old account payable for office supplies.b. The company paid $1,200 cash for the just completed two-week salary of the receptionist.c. The company paid $39,000 cash for equipment purchased.d. The company paid $800 cash for this month's utilities.e. Owner (B. Valdez) withdrew $4,500 cash from the company for personal use.1. Prepare general journal entries for the above transactions of Valdez Services.
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $17,500 cash in the...
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $17,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $508 cash. c. The company purchased $9,678 of office equipment on credit. d. The company received $2,065 cash as fees for services provided to a customer. e. The company paid $9,678 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,710...
2. Listed below are three reasons why a transaction would not yield a revenue. Match each...
2. Listed below are three reasons why a transaction would not yield a revenue. Match each of the reasons to the transaction it properly describes. Transaction ces Reason This transaction changed the form of an asset from a receivable to cash. Total assets were not increased (revenue was recognized when the services were originally provided) This transaction brought in cash (increased assets), but it also increased a liability by the same amount (no goods or services were provided to generate...
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $10,250 cash in the...
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $10,250 cash in the company in exchange for common stock. b. The company purchased office supplies for $297 cash. c. The company purchased $5,668 of office equipment on credit. d. The company received $1,209 cash as fees for services provided to a customer. e. The company paid $5,668 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,173...
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $100,750 cash in the...
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $100,750 cash in the company in exchange for common stock. b. The company purchased office supplies for $1,250. cash. c. The company purchased $10,050 of office equipment on credit. d. The company received $15,500 cash as fees for services provided to a customer. e. The company paid $10,050 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,700...
Exercise 2-9 Recording effects of transactions in T-accounts LO A1 The transactions of Spade Company appear...
Exercise 2-9 Recording effects of transactions in T-accounts LO A1 The transactions of Spade Company appear below a. Kacy Spade, owner, invested $19,000 cash in the company in exchange for common stock b. The company purchased office supplies for $551 cash c. The company purchased $10,507 of office equipment on credit d. The company received $2.242 cash as fees for services provided to a customer e. The company paid $10.507 cash to settle the payable for the office equipment purchased...
Following are transactions for Valdez Services, a company owned by Brina Valdez.a. Brina Valdez invested $20,000 cash in the company.b. The company provided services to a client and immediately received $900 cash.c. The company received $10,000 cash from a client in payment for services to be provided next year.d. The company received $3,500 cash from a client in partial payment of accounts receivable.e. The company borrowed $5,000 cash from the bank by signing a note payable.1. Prepare general journal entries...
Following are the transactions for Valdez Services.a. The company paid $2000 cash for payment on a 3 -month-old account payable for office supplies.b. The company paid $2200 cash for the just completed two-week salary of the receptionist.c. The company paid $50.000 cash for equipment purchased.d. The company paid $800 cash for this month's utilities.e. The company paid a $5.000 cash dividend to the owner (sole shareholder).1. Prepare general journal entries for the above transactions of Valdez Services.2. Listed below are...
Following are transactions for Dana Services (a corporation), Which uses monthly accounting periods a. Shareholders invested $38 250 cash in the company b. The company provided $1 350 of services on credit C. The company provided services to a client and immediately received $1,575 cash d. The company received 59,150 cash from a client in payment for services to be provided next year e. The company received S4 500 cash from a client in partial payment of an account receivable...
The transactions of Spade Company appear below.
Kacy Spade, owner, invested $14,500 cash in the company in
exchange for common stock.
The company purchased office supplies for $421 cash.
The company purchased $8,019 of office equipment on
credit.
The company received $1,711 cash as fees for services provided
to a customer.
The company paid $8,019 cash to settle the payable for the
office equipment purchased in transaction c.
The company billed a customer $3,074 as fees for services
provided.
The...
Following are the transactions for Valdez Services.a. The company paid $2,000 cash for payment on a 6 -month-old account payable for office supplies.b. The company paid $1,200 cash for the just completed two-week salary of the receptionist.c. The company paid $39,000 cash for equipment purchased.d. The company paid $800 cash for this month's utilities.e. Owner (B. Valdez) withdrew $4,500 cash from the company for personal use.1. Prepare general journal entries for the above transactions of Valdez Services.
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $17,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $508 cash. c. The company purchased $9,678 of office equipment on credit. d. The company received $2,065 cash as fees for services provided to a customer. e. The company paid $9,678 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,710...
2. Listed below are three reasons why a transaction would not yield a revenue. Match each of the reasons to the transaction it properly describes. Transaction ces Reason This transaction changed the form of an asset from a receivable to cash. Total assets were not increased (revenue was recognized when the services were originally provided) This transaction brought in cash (increased assets), but it also increased a liability by the same amount (no goods or services were provided to generate...
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $10,250 cash in the company in exchange for common stock. b. The company purchased office supplies for $297 cash. c. The company purchased $5,668 of office equipment on credit. d. The company received $1,209 cash as fees for services provided to a customer. e. The company paid $5,668 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,173...
Exercise 2-9 Recording effects of transactions in T-accounts LO A1 The transactions of Spade Company appear below a. Kacy Spade, owner, invested $19,000 cash in the company in exchange for common stock b. The company purchased office supplies for $551 cash c. The company purchased $10,507 of office equipment on credit d. The company received $2.242 cash as fees for services provided to a customer e. The company paid $10.507 cash to settle the payable for the office equipment purchased...
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