Excercise 3-13 Exercise 3-11 Determining an Ending Account Balance (Appendix) L.45 sAccounting Services was organized on...
Excercise 3-13 Exercise 3-11 Determining an Ending Account Balance (Appendix) L.45 sAccounting Services was organized on June 1. The company received a contribution of EXAMPLE 3-2, 3 1000 from each of the two principal owners. During the month, Jessie's Accounting Services pro- vided services for cash of $1,400 and services on account for $450, received $250 from customersS yment of their accounts, purchased supplies on account for $600 and equipment on account Show me how 350, received a utility bill...
Excercise 3-11 and 3-13 Problem 3-12 Atkins Advertising Agency began busll during its first month of operations are as a. Acquired its articles of in a. Acquired is arickes of incorporation from the state and issued 100,000 sh 3 56Probleri 3 shares of capital in exchange for $200,000 in cash. b. an office building for $150,000 in cash. The building is valued at S e at the bank for $125,000. Purchased reeing to pay the remainde c. Signed a three-year...
Excercise 3-1,3-2,3-8 On June 1, Campbell Corpua in the amount of $50,000. Using the formats sho to record this transaction in a general journal and pos accounts. The entry will be recorded on page 7 of the general journal. Use what numbers you like in the general ledger. Assume that none of the accounts to be debited ost it to the appiupiaie geheral whatever a If at a later date, you wanted to review this transaction, would you examine ledger...
Exercise 2-3 Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are as follows. Jan. 2 3 9 11 16 20 23 28 Invested $15,000 cash in the business in exchange for common stock. Purchased used car for $8,200 cash for use in the business. Purchased supplies on account for $500. Billed customers $1,800 for services performed. Paid $200 cash for advertising. Received $780 cash from customers billed on January 11. Paid creditor $300...
Enter the transactions into the Journal Post the transactions to T-accounts determine each account's ending balance. C. a. 1 March, John bought $2,600 of supplies on account from a local office supplier. b. 15 March, John billed his customers for $4,300 of services for the month. 25 March, John received $3,500 in payments for the services billed on 15 March d. 27 March, John paid $1,200 to the local office supplier for the supplies bought on 1 March General Journal...
Transaction Analysis and Trial Balance Pam Black owns Artsy Graphics, a firm providing designs for advertisers and market analysts. On July 1, the business's general ledger showed the following normal account balances: Cash $6,800 Accounts Payable $2,100 Accounts Receivable 10,700 Notes Payable 4,200 Common Stock 2,000 Retained Earnings 9,200 Total Assets $17,500 Total Liabilities and Stockholders' Equity $17,500 The following transactions occurred during the month of July: 1 Paid July rent, $510. 2 Collected $7,100 on account from customers. 3...
Question text Transaction Analysis and Trial Balance Pam Brown owns Art Graphics, a firm providing designs for advertisers and market analysts. On July 1, the business’s general ledger showed the following normal account balances: Cash $8,800 Accounts Payable $2,400 Accounts Receivable 10,100 Notes Payable 5,300 Common Stock 1,700 Retained Earnings 9,500 Total Assets $18,900 Total Liabilities and Stockholders' Equity $18,900 The following transactions occurred during the month of July: July 1 Paid July rent, $970. 2 Collected $7,400 on account...
EXERCISE 1-13 The following selected transactions were completed by Salvo Delivery Service dur- ing February: Transactions Objective 7 1. Received cash from owner as additional investment, $35,000 2. Received cash for providing delivery services, $15,000 3. Paid creditors on account, $1,800 4. Billed customers for delivery services on account, $11,250 5. Paid advertising expense, $750. 6. Purchased supplies for cash, $800 7. Paid rent for February, $2,000 8. Received cash from customers on account, $6,740 9. Determined that the cost...
ournalize transactions, post, and prepare a trial balance. (LO 1, 2, 3, 4) Maquoketa Services was formed on May 1, 2017. The following transactions took place during the first month. Transactions on May 1: 1.Jay Bradford invested $40,000 cash in the company, as its sole owner. 2.Hired two employees to work in the warehouse. They will each be paid a salary of $3,050 per month. 3.Signed a 2-year rental agreement on a warehouse; paid $24,000 cash in advance for the...
Transaction Analysis and Trial Balance Pam Black owns Artsy Graphics, a firm providing designs for advertisers and market analysts. On July 1, the business's general ledger showed the following normal account balances: Cash $6,800 Accounts Payable $2,100 Accounts Receivable 10,700 Notes Payable 4,200 Common Stock 2,000 Retained Earnings 9,200 Total Assets $17,500 Total Liabilities and Stockholders' Equity $17,500 The following transactions occurred during the month of July: 1 Paid July rent, $510. 2 Collected $7,100 on account from customers. 3...