Homework Answers
1) Journal entries
| No | General Journal | Debit | Credit |
| a | Cash | 1200 | |
| Unearned service revenue | 1200 | ||
| b | Account receivable | 900 | |
| Service revenue | 900 | ||
| c | Cash | 2300 | |
| Service revenue | 2300 | ||
2) Journal entry
| No | General journal | Debit | Credit |
| a | Salaries expense | 600 | |
| Cash | 600 | ||
| b | Utilities expense | 200 | |
| Utilities payable | 200 | ||
| c | No Journal entry required | ||
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help?!? The following transactions occur for Badger Biking Company during the month of June: a. Provide...
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Required information [The following information applies to the questions displayed below.) The following transactions occur for...
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help?!?
The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account for $42.000 b. Receive cash of $34,000 from customers in (a) above. c. Purchase bike equipment by signing a note with the bank for $27,000. d. Pay utilities of $4,200 for the current month. Book Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to account classifications should be entered as a...
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The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account for $33,000 b. Receive cash of $25,000 from customers in (a) above, c. Purchase bike equipment by signing a note with the bank for $18,000, d. Pay utilities of $3,300 for the current month, Analyze each transaction and indicate the amount of increases and decreases in the accounting equation (Decreases to account classifications should be entered as a negative.) Transaction...
6. Schultz Tax Services, a tax preparation business had the following transactions during the month of June: Example: Received cash the owner Schultz, $25,000. 1. Received cash for providing accounting services, $3,000. 2. Billed customers on account for providing services, $7,000. 3. Paid advertising expense, $800. 4. Received cash from customers on account, $3,800. 5. Owner made a withdrawal, $1,500. 6. Received telephone bill, $220. 7. Paid telephone bill, $220. Required: 1) In the table below, state the accounts affected...
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Required information [The following information applies to the questions displayed below.) The following transactions occur for the Wolfpack Shoe Company during the month of June: a. Provide services to customers for $21,000 and receive cash. b. Purchase office supplies on account for $11,000. C. Pay $5,200 in salaries to employees for work performed during the month. 1. Analyze each transaction. For each transaction indicate by how much each category in the accounting equation increases or decreases. (Decreases to account classifications...
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