Homework Answers
| c) | ||
| Accounts | Debit | Credit |
| Accounts Receivable | $9,000 | |
| Cash ($65,000 - $9,000) | $56,000 | |
| Service Revenue | $65,000 | |
| (To record the services provided on account and by cash) | ||
| d) | ||
| Accounts | Debit | Credit |
| Salaries Expense | $22,000 | |
| Cash | $22,000 | |
| (To record the payment of salaries by cash) | ||
| e) | ||
| Accounts | Debit | Credit |
| Rent Expense | $8,000 | |
| Cash | $8,000 | |
| (To record the payment of rent by cash) | ||
| f) | ||
| Accounts | Debit | Credit |
| Supplies | $10,000 | |
| Accounts Payable | $10,000 | |
| (To record the purchase of supplies on account) |
Add Answer to:
c. Provided day care to puppies during the year. Total amount for these services is $65,000....
3. Journal Entries - external events Buka and Margot began operations of The Tail That Wags...
3. Journal Entries - external events Buka and Margot began operations of The Tail That Wags the Dog, a doggie day care, on January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1, 2021 was as follows: Credit Cash Accounts Receivable Supplies Other current assets Equipment Accounts Payable Common Stock Retained Earnings Debit 5,000 4,000 2,000 9,000 6,000 7,000 7,000 12,000 Total 26,000 26,000 Record each of the following transactions that occurred during 2021:...
The following events apply to Complete Business Service in 2018, its first year of operations: Received...
The following events apply to Complete Business Service in 2018, its first year of operations: Received $30,000 cash from the issue of common stock. Earned $25,000 of service revenue on account. Incurred $10,000 of operating expenses on account. Received $20,000 cash for performing services. Paid $8,000 cash to purchase land. Collected $22,000 of cash from accounts receivable. Received a $6,000 cash advance for services to be provided in the future. Purchased $900 of supplies on account. Made a $7,500 payment...
More Info Oct 2 Johnson Services received $65,000 cash and issued common stock to the stockholders...
More Info Oct 2 Johnson Services received $65,000 cash and issued common stock to the stockholders 3 Purchased supplies, $700, and equipment, $12,300, on account. 4 Performed services for a customer and received cash, $5,700 7 Paid cash to acquire land, $35,000. 11 Performed services for a customer and billed the customer, $3,100. Johnson expects to collect within one month. 16 Paid for the equipment purchased October 3 on account. 17 Paid for newspaper advertising, $620 18 Received partial payment...
Bolton Consulting Work Sheet For the year ended December 31 Balance Sheet and Statement of Stockholders...
Bolton Consulting Work Sheet For the year ended December 31 Balance Sheet and Statement of Stockholders Income Statement Equity Adjusted Unadjusted Trial Trial Balance Adjustments Balance Account Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Cash 31,000 Accounts Receivable 8,000 Supplies 12,500 Automobiles 175,000 Accum. Depr. - Autos 52,000 17,500 Accounts payable Unearned 26,500 fees Salaries payable Capital Stock 58.000 Dividends 42,500 241,750 Fees earned Salary 91,000 Module 8: Portfolio Project 262020 expense Rent expense 35,750 Advertising expense...
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...
1-Dec Borrow $10,000 from the local bank and sign a note promising to repay the full...
1-Dec Borrow $10,000 from the local bank and sign a note promising to repay the full amount of the debt in three years 1-Dec Pay one year of rent in advance, $6,000 ($500 per month) 6-Dec Purchase supplies on account, $2,300 17-Dec Provide soccer training to customers on account, $2,000 23-Dec Receive cash in advance for 12 soccer training sessions to be given in the future, $600 1. One month rent has expired 2. Physical cound of supplies reveals that...
Problem 3-5A On November 1, 2019, the account balances of Schilling Equipment Repair were as follows....
Problem 3-5A On November 1, 2019, the account balances of Schilling Equipment Repair were as follows. Debits No. No. Credits Accumulated $ 2,400 154 Depreciation- Equipment $ 2,000 101 Cash Accounts Receivable Accounts Payable 112 4,250 201 2,600 Unearned Service 126 Supplies 1,800 209 1,200 Revenue Salaries and Wages Payable 153 Equipment 12,000 212 700 311 Common Stock 10,000 3,950 Retained Earnings 320 $20,450 $20,450 During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due...
Thunder Cat Services specializes in training and veterinary services to household pets, such as dogs, birds,...
Thunder Cat Services specializes in training and veterinary services to household pets, such as dogs, birds, lizards, fish, horses, and of course, cats. After the first 11 months of operations in 2021, Thunder Cat has the following account balances: THUNDER CAT SERVICES Trial Balance November 30, 2021 Accounts Debits Credits Cash $ 19,400 Supplies 1,500 Prepaid Rent 7,200 Equipment 83,700 Buildings 240,000 Accounts Payable $ 9,800 Deferred Revenue 2,000 Common Stock 125,000 Retained Earnings 75,500 Dividends 9,000 Service Revenue 264,000...
The unadjusted trial balance of Bolton Consulting is entered on the partial worksheet below. Bolton Consulting...
The unadjusted trial balance of Bolton Consulting is entered on the partial worksheet below. Bolton Consulting Work Sheet For the year ended December 31 Account Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet and Statement of Stockholders’ Equity Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 31,000 Accounts Receivable 8,000 Supplies 12,500 Automobiles 175,000 Accum. Depr. - Autos 52,000 Accounts payable 17,500 Unearned fees 26,500 Salaries payable Capital Stock 58,000 Dividends 42,500 Fees earned...
I need help solving the adjusting entries. I have provided the unadjusted trial balance. Thank you...
I need help solving the adjusting entries. I have provided the
unadjusted trial balance. Thank you so much!
Debit Credit 15,000 55,000 2,000 7,000 12,000 1,000 4,000 40,000 330,000 120,000 39,000 150,000 70,000 22,000 30,000 Cash Accounts Receivable Allowance for Doubtful Accounts Prepaid Insurance Prepaid rent Supplies Prepaid Advertising Note Receivable Interest Receivable Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Accounts Payable Notes Payable Interest Payable Salary & Wage Payable Unearned revenue Unearned rent revenue Common Stock Retained Earnings Sales...
3. Journal Entries - external events Buka and Margot began operations of The Tail That Wags the Dog, a doggie day care, on January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1, 2021 was as follows: Credit Cash Accounts Receivable Supplies Other current assets Equipment Accounts Payable Common Stock Retained Earnings Debit 5,000 4,000 2,000 9,000 6,000 7,000 7,000 12,000 Total 26,000 26,000 Record each of the following transactions that occurred during 2021:...
More Info Oct 2 Johnson Services received $65,000 cash and issued common stock to the stockholders 3 Purchased supplies, $700, and equipment, $12,300, on account. 4 Performed services for a customer and received cash, $5,700 7 Paid cash to acquire land, $35,000. 11 Performed services for a customer and billed the customer, $3,100. Johnson expects to collect within one month. 16 Paid for the equipment purchased October 3 on account. 17 Paid for newspaper advertising, $620 18 Received partial payment...
Bolton Consulting Work Sheet For the year ended December 31 Balance Sheet and Statement of Stockholders Income Statement Equity Adjusted Unadjusted Trial Trial Balance Adjustments Balance Account Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Cash 31,000 Accounts Receivable 8,000 Supplies 12,500 Automobiles 175,000 Accum. Depr. - Autos 52,000 17,500 Accounts payable Unearned 26,500 fees Salaries payable Capital Stock 58.000 Dividends 42,500 241,750 Fees earned Salary 91,000 Module 8: Portfolio Project 262020 expense Rent expense 35,750 Advertising expense...
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...
1-Dec Borrow $10,000 from the local bank and sign a note promising to repay the full amount of the debt in three years 1-Dec Pay one year of rent in advance, $6,000 ($500 per month) 6-Dec Purchase supplies on account, $2,300 17-Dec Provide soccer training to customers on account, $2,000 23-Dec Receive cash in advance for 12 soccer training sessions to be given in the future, $600 1. One month rent has expired 2. Physical cound of supplies reveals that...
Problem 3-5A On November 1, 2019, the account balances of Schilling Equipment Repair were as follows. Debits No. No. Credits Accumulated $ 2,400 154 Depreciation- Equipment $ 2,000 101 Cash Accounts Receivable Accounts Payable 112 4,250 201 2,600 Unearned Service 126 Supplies 1,800 209 1,200 Revenue Salaries and Wages Payable 153 Equipment 12,000 212 700 311 Common Stock 10,000 3,950 Retained Earnings 320 $20,450 $20,450 During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due...
Thunder Cat Services specializes in training and veterinary services to household pets, such as dogs, birds, lizards, fish, horses, and of course, cats. After the first 11 months of operations in 2021, Thunder Cat has the following account balances: THUNDER CAT SERVICES Trial Balance November 30, 2021 Accounts Debits Credits Cash $ 19,400 Supplies 1,500 Prepaid Rent 7,200 Equipment 83,700 Buildings 240,000 Accounts Payable $ 9,800 Deferred Revenue 2,000 Common Stock 125,000 Retained Earnings 75,500 Dividends 9,000 Service Revenue 264,000...
I need help solving the adjusting entries. I have provided the
unadjusted trial balance. Thank you so much!
Debit Credit 15,000 55,000 2,000 7,000 12,000 1,000 4,000 40,000 330,000 120,000 39,000 150,000 70,000 22,000 30,000 Cash Accounts Receivable Allowance for Doubtful Accounts Prepaid Insurance Prepaid rent Supplies Prepaid Advertising Note Receivable Interest Receivable Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Accounts Payable Notes Payable Interest Payable Salary & Wage Payable Unearned revenue Unearned rent revenue Common Stock Retained Earnings Sales...
Most questions answered within 3 hours.
-
(63
#14)
which of the following statments best describes how chamging
the concentration of the substances...
asked 21 minutes ago -
In the following reaction, which element is undergoing
oxidation: Na2SO3 + N2O --> N2 + Na2SO4...
asked 1 hour ago -
Which of the following pairs of ions have the same electron
configuration?
I: Br− and Se2−...
asked 3 hours ago -
The Foremost Composite Materials Company is planning a two-day
sales conference for October 19-20. The conference...
asked 4 hours ago -
3) Illustrate the observed pattern of relatedness of organisms
versus adaptations to specific conditions. This means...
asked 4 hours ago -
In winter a lake has a 0.35 m thick ice layer over 1.10 m of
water....
asked 5 hours ago -
Assuming the following has been encrypted with a Vigenere cipher
below, use the method(s) and assumptions...
asked 5 hours ago -
How would I use switch statements to write a program that will
take an input of...
asked 5 hours ago -
Imagine a reaction in which methane gas combusts at a constant
pressure of 1 atm and...
asked 5 hours ago -
Two parallel wires (each 12 m in length) are separated by a
distance of 0.065 m...
asked 5 hours ago -
Suppose there were three masses at the corner of uniform
equilateral triangle. The masses are m1...
asked 5 hours ago -
Situation: A building that is 618 m above the ground floor. How
many times would a...
asked 5 hours ago