Homework Answers
Answer -
1. Answer -
| Accounts titles | Debit | Credit |
| Cash | $1850 | |
| Accounts receivable | $1850 |
Explanation:
As per given information,
Trimble Graphic Design provided services in previous month to its client on account (on credit). Therefore, accounts receivable increase by $1850 (debit).
So,
When receives payment of $1850 from client for services provided in previous months then accounts receivable balance decreases by $1850 (credit) and cash balance increases by $1850 (debit).
As we know, Increase in assets is debit and decrease in asset is credit.
2. Answer -
February 01 beginning cash balance = $3500
Calculation:
As per given information,
Cash receipts = $7700
Cash disbursements = $9000
Cash balance February 28 (ending balance) = $2200
Cash balance February 01(beginning balance) = ?
Therefore,
Cash balance February 28 (ending balance) = Cash balance February 01(beginning balance) + Cash receipts - Cash disbursements
$2200 = Cash balance February 01(beginning balance) + $7700 - $9000
Cash balance February 01(beginning balance) = $2200 + $9000 - $7700
Cash balance February 01(beginning balance) = $3500
Add Answer to:
Trimble Graphic Design receives $1,850 from a client billed in a previous month for services provided....
During the month of February, Victor Services had cash receipts of $7,700 and cash disbursements of...
During the month of February, Victor Services had cash receipts of $7,700 and cash disbursements of $9,000. The February 28 cash balance was $2,200. What was the February 1 beginning cash balance?
During the month of February, Victor Services had cash receipts of $7,900 and cash disbursements of...
During the month of February, Victor Services had cash receipts of $7,900 and cash disbursements of $9,400. The February 28 cash balance was $2,600. What was the February 1 beginning cash balance? Multiple Choice $0. $1.100 O $1,500. O $6,300 O $4,100
On May 1, a business provided legal services to a client and billed the dient $3,200...
On May 1, a business provided legal services to a client and billed the dient $3,200 The client promised to pay the business in one month. Which journal entry should the business record on Ma O A. Debit Accounts Receivable for $3,200 and credit Service Revenue for 53.200 O B. Debit Cash for $3,200 and credit Retained Earnings for $3,200. O C. Debit Cash for $3,200 and credit Service Revenue for $3,200. OD. Debit Accounts Payable for $3.200 and credit...
An examination of the cash activities during the year shows the following. Amount $ 5,640 1,850...
An examination of the cash activities during the year shows the following. Amount $ 5,640 1,850 102 DC 370 103 Date 7/1 7/15 7/22 7/30 8/1 8/10 8/17 9/21 10/17 12/15 GREAT ADVENTURES Cash Account Records July 1, 2021, to December 31, 2021 Cash Receipts Canh Disbursements Desc Amount Date Check# Dese. Stock sale $ 25.000 7/1 - 101 Insurance clinic receipts 2.000 7/2 Legal fees Clinie receipts 1.840 7/7 Advertising clinic receipts 5.500 7/8 Bikes Borrowing 37.000 7/24 Advertising...
hi Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each...
hi
Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2021. Deposits: Date 2/4 2/11 2/18 2/25 2/26-2/28 Amount $ 2,600 Checks: 2,200 3,100 4,000 1,500 $ 13,400 No. 321 322 323 324 325 326 327 Date 2/2 2/8 2/12 2/19 2/27 2/28 2/28 Amount $ 4,600 650 2,400 2,100...
Sun Devil Hair Design has the following transactions during the month of February. February 2 Pay...
Sun Devil Hair Design has the following transactions during the month of February. February 2 Pay $610 for radio advertising for February. February 7 Purchase beauty supplies of $1,210 on account. February 14 Provide beauty services of $2,450 to customers and receive cash. February 15 Pay employee salaries for the current month of $810. February 25 Provide beauty services of $910 to customers on account. February 28 Pay utility bill for the current month of $210. Required: Record each transaction....
Oscar’s Red Carpet Store maintains a checking account with Academy Bank. Oscar’s sells carpet each day...
Oscar’s Red Carpet Store maintains a checking account with
Academy Bank. Oscar’s sells carpet each day but makes bank deposits
only once per week. The following provides information from the
company’s cash ledger for the month ending February 28, 2018.
Information from February's bank statement and company records
reveals the following additional information:
a. The ending cash balance recorded in the bank statement is
$13,145.
b. Cash receipts of $1,600 from 2/26-2/28 are outstanding.
c. Checks 325 and 327...
Raketan Repairs received $1,300 cash from a customer for repair services to be provided next month....
Raketan Repairs received $1,300 cash from a customer for repair services to be provided next month. Given the choices below, determine the general journal entry that Raketan Repairs will make to record the cash receipt. Assume the company’s policy is to initially record prepaid and unearned items in balance sheet accounts.
Chapter Four Homework Required information (The following information applies to the questions displayed below) Part 2...
Chapter Four Homework Required information (The following information applies to the questions displayed below) Part 2 of 2 Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2021. Date Amount $3,950 Deposits Amount $ 1,950 Checks! 1,550 2,450 3.350 Date 2/2 2/8 2/12 2/11 2/18 322 323 1,750 1.450 2/25...
Sep 16 Collected $3,000 cash from a client on account. 18 Provided services on account, $2,500....
Sep 16 Collected $3,000 cash from a client on account. 18 Provided services on account, $2,500. 21 Received $1,200 cash for services provided. 23 Purchased supplies on account, $900. 25 Paid $1,900 in dividends. 27 Paid $2,000 on account. 29 Received $3,300 cash for services provided. 30 Paid rent, $2,000. 30 Paid employees' salaries, $2,500. GOO, Inc. Trial Balance September 15, 2018 Acct # Account Debit Credit 110 Cash $ 3,700 112 7,300 Accounts receivable Supplies 115 100 140 11,700...
During the month of February, Victor Services had cash receipts of $7,700 and cash disbursements of $9,000. The February 28 cash balance was $2,200. What was the February 1 beginning cash balance?
During the month of February, Victor Services had cash receipts of $7,900 and cash disbursements of $9,400. The February 28 cash balance was $2,600. What was the February 1 beginning cash balance? Multiple Choice $0. $1.100 O $1,500. O $6,300 O $4,100
On May 1, a business provided legal services to a client and billed the dient $3,200 The client promised to pay the business in one month. Which journal entry should the business record on Ma O A. Debit Accounts Receivable for $3,200 and credit Service Revenue for 53.200 O B. Debit Cash for $3,200 and credit Retained Earnings for $3,200. O C. Debit Cash for $3,200 and credit Service Revenue for $3,200. OD. Debit Accounts Payable for $3.200 and credit...
An examination of the cash activities during the year shows the following. Amount $ 5,640 1,850 102 DC 370 103 Date 7/1 7/15 7/22 7/30 8/1 8/10 8/17 9/21 10/17 12/15 GREAT ADVENTURES Cash Account Records July 1, 2021, to December 31, 2021 Cash Receipts Canh Disbursements Desc Amount Date Check# Dese. Stock sale $ 25.000 7/1 - 101 Insurance clinic receipts 2.000 7/2 Legal fees Clinie receipts 1.840 7/7 Advertising clinic receipts 5.500 7/8 Bikes Borrowing 37.000 7/24 Advertising...
hi
Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2021. Deposits: Date 2/4 2/11 2/18 2/25 2/26-2/28 Amount $ 2,600 Checks: 2,200 3,100 4,000 1,500 $ 13,400 No. 321 322 323 324 325 326 327 Date 2/2 2/8 2/12 2/19 2/27 2/28 2/28 Amount $ 4,600 650 2,400 2,100...
Sun Devil Hair Design has the following transactions during the month of February. February 2 Pay $610 for radio advertising for February. February 7 Purchase beauty supplies of $1,210 on account. February 14 Provide beauty services of $2,450 to customers and receive cash. February 15 Pay employee salaries for the current month of $810. February 25 Provide beauty services of $910 to customers on account. February 28 Pay utility bill for the current month of $210. Required: Record each transaction....
Oscar’s Red Carpet Store maintains a checking account with
Academy Bank. Oscar’s sells carpet each day but makes bank deposits
only once per week. The following provides information from the
company’s cash ledger for the month ending February 28, 2018.
Information from February's bank statement and company records
reveals the following additional information:
a. The ending cash balance recorded in the bank statement is
$13,145.
b. Cash receipts of $1,600 from 2/26-2/28 are outstanding.
c. Checks 325 and 327...
Chapter Four Homework Required information (The following information applies to the questions displayed below) Part 2 of 2 Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2021. Date Amount $3,950 Deposits Amount $ 1,950 Checks! 1,550 2,450 3.350 Date 2/2 2/8 2/12 2/11 2/18 322 323 1,750 1.450 2/25...
Sep 16 Collected $3,000 cash from a client on account. 18 Provided services on account, $2,500. 21 Received $1,200 cash for services provided. 23 Purchased supplies on account, $900. 25 Paid $1,900 in dividends. 27 Paid $2,000 on account. 29 Received $3,300 cash for services provided. 30 Paid rent, $2,000. 30 Paid employees' salaries, $2,500. GOO, Inc. Trial Balance September 15, 2018 Acct # Account Debit Credit 110 Cash $ 3,700 112 7,300 Accounts receivable Supplies 115 100 140 11,700...
Most questions answered within 3 hours.
-
Events A and B are independent. Suppose event A occurs with
probability 0.63 and event B...
asked 35 seconds from now -
Rubies are essentially alumina Al2O3 with a contaminant of
chromium in the form of Cr2O3. A...
asked 7 minutes ago -
Write a full program that will accept
exactly three command line arguments
that can be interpreted as...
asked 9 minutes ago -
1.histones are proteins that make up nucleosomes. they bind to
the backbone of DNA in chromosomes....
asked 18 minutes ago -
What is the relationship between a variables value and their
probabilities as it is summarized by...
asked 26 minutes ago -
Balance Sheet
DR
CR
Cash
10000
AR
7000
Supplies
500
Equipment
5,000
Accum depreciation
...
asked 24 minutes ago -
Country
Continent
GDP (millions of US$)
Afghanistan
Asia
 
asked 27 minutes ago -
1) Use the Euclidean algorithm (write in pseudocode) to find the
greatest common divisor of 8...
asked 50 minutes ago -
Based upon the corporate proposal for this week, research three
different data storage options for your...
asked 51 minutes ago -
The equilibrium constant, Kp , for the following reaction is
1.04×10-2 at 548 K. NH4Cl(s) NH3(g)...
asked 1 hour ago -
During a recent budgeting discussion, the CFO at "NW Accounting
Services" proposed eliminating the marketing research...
asked 1 hour ago -
Block B has a mass of 3.80kg and is moving to the left at a
speed...
asked 1 hour ago