Homework Answers
| Date | Account Titles and explanation | Debit | Credit |
| July 2nd | Advance Rent a/c | $ 780.00 | |
| To Cash a/c | $ 780.00 | ||
| (Being Rent paid in cash $780 for the months July, August and Sep) | |||
| July 10th | Supplies a/c | $ 100.00 | |
| To Cash a/c | $ 100.00 | ||
| (Being payment for supplies purchased) | |||
| July 14th | Cash a/c | $ 860.00 | |
| To Accounts Receivable a/c | $ 860.00 | ||
| (Being receivable balance collected in full in cash) | |||
| July 20th | Cash a/c | $ 720.00 | |
| To Advance from Customer | $ 720.00 | ||
| (Being advance received from customer for services to be provided in August) | |||
| July 25th | Cash a/c | $ 1,310.00 | |
| To Revenue a/c | $ 1,310.00 | ||
| ( Being cash revenue recorded ) | |||
| July 31st | Unbilled revenue a/c | $ 730.00 | |
| to Revenue a/c | $ 730.00 | ||
| (Being accrue for services rendered and billed) | |||
| July 31st | Rent Expense a/c | $ 260.00 | |
| To Advance Rent | $ 260.00 | ||
| (Being Rent expense for the month July recorded by adjusting the rental advance paid for 3months) | |||
| July 31st | Supplies Expense a/c | $ 610.00 | |
| To Supplies a/c | $ 610.00 | ||
| (Being record of supplies consumed) | |||
| July 31st | Depreciation a/c | $ 137.00 | |
| To Equipment a/c | $ 137.00 | ||
| (Being record of Depreciation for July month) | |||
| July 31st | Unearned Revenue a/c | $ 950.00 | |
| to Revenue a/c | $ 950.00 | ||
| (Being record of Revenue) |
Add Answer to:
Pharoah Company had the following trial balance at June 30, 2021 (its year end). Collaborations Wiley...
Pharoah Company had the following trial balance at June 30, 2021 (its year end).
Pharoah Company had the following trial balance at June 30, 2021 (its year-end).During the month of July, the following selected transactions took place:July 2 Paid $ 780 cash for rent for July, August, and September.10 Purchased $ 100 of supplies for cash.14 Collected the full balance of accounts receivable.20 Received $ 720 cash from a customer for services to be provided in August.25 Provided $ 1,310 of services for a customer and immediately collected cash.Additional information:1. At July 31, the...
Blossom Company had the following trial balance at June 30, 2021 (its year end). Credit Cash Accounts Receivable S...
Blossom Company had the following trial balance at June 30, 2021 (its year end). Credit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Unearned Revenke Blossom, Capital Totals Debit $5,700 700 1,100 8,640 $3,600 1,300 11,240 $16,140 $16,140 During the month of July, the following selected transactions took place: July 2 Pald $600 cash for rent for July August, and September 10 Purchased $100 of supplies for cash. 14 Collected the full balance of accounts receivable. 20 Received $600 cash from...
The CCBC Corporation had the following opening trial balance at the beginning of its fiscal year,...
The CCBC Corporation had the following opening trial balance at
the beginning of its fiscal year, July 1, 2018:DebitCreditCash$7,700Accounts receivable6,600Supplies1,200Equipment13,800Accumulated
depreciation—equipment$5,500Unearned revenue2,750Common shares6,000Retained earnings15,050Totals$29,300$29,300During the month of July, the following selected transactions took
place:July 2Paid $1,000 for two months’
rent in advance for July and August.7Purchased $200 of supplies on
account.14Collected half of outstanding
accounts receivable.15Borrowed $1,000 from the bank
for one year at an interest rate of 5%.21Received $1,000 cash from a
customer for services to be performed in...
The CCBC Corporation had the following opening trial balance at the beginning of its fiscal year,...
The CCBC Corporation had the following opening trial balance at
the beginning of its fiscal year, July 1, 2018:
Debit
Credit
Cash
$
7,700
Accounts receivable
6,600
Supplies
1,200
Equipment
13,800
Accumulated depreciation—equipment
$
5,500
Unearned revenue
2,750
Common shares
6,000
Retained earnings
15,050
Totals
$
29,300
$
29,300
During the month of July, the following selected transactions took
place:
July 2
Paid $1,000 for two months’ rent in advance for July and
August.
7
Purchased $200 of supplies on...
Conferences Credit Colaborations Debit $5,980 890 1.240 9.792 WileyPLUS Support Cash Accounts Receivable Supplies Equipment Accumulated...
Conferences Credit Colaborations Debit $5,980 890 1.240 9.792 WileyPLUS Support Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Unearned Revenue Wildhorse, Capital Totals SLOBO 1.400 12,422 $17.902 $17.902 During the month of July, the following selected transactions took places July 2 Paid $810 cash for rent for July August, and September 10 Purchased $120 of supplies for cash. 14 Collected the full balance of accounts receivable. 20 Received $760 cash from a customer for services to be provided in August 25...
QUESTION HERE: This is the trial balance of Pharoah Company on September 30. PHAROAH COMPANY Trial...
QUESTION HERE:
This is the trial balance of Pharoah Company on September 30. PHAROAH COMPANY Trial Balance September 30, 2022 Debit Credit Cash $23,940 Accounts Receivable 7,340 Supplies 4,530 Equipment 10,430 Accounts Payable $ 9,540 Unearned Service Revenue 3,530 Common Stock 19,740 Retained Earnings 13,430 $46,240 $46,240 The October transactions were as follows. Oct. 5 Received $1,330 in cash from customers for accounts receivable due. 10 Billed customers for services performed $5,660. 15 Paid employee salaries $1,270. 17 Performed $600...
Pharoah Repair Shop had the following transactions during the first month of business as a proprietorship....
Pharoah Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transactions. (If no entry is required, select "No entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Aug. 2 7 12. Invested $12,320 cash and $2,710 of equipment in the business. Purchased supplies on account for $480. (Debit asset account.) Performed services for clients, for which $1,193...
The unadjusted trial balance for Crane Video Arcade at its fiscal year end of May 31,...
The unadjusted trial balance for Crane Video Arcade at its fiscal year end of May 31, 2021, is as follows: CRANE VIDEO ARCADE Trial Balance May 31, 2021 Debit Credit Cash $5,940 Supplies 2,910 Equipment 115,000 Accumulated depreciation-equipment $46,000 Notes payable 60,000 Unearned revenue 1,500 V. Gupta, capital 32,200 V. Gupta, drawings 35,400 Service revenue 81,250 Rent expense 12,600 Salaries expense 45,800 Interest expense 3,300 Totals $220,950 $220,950 Additional information: 1. On May 31, 2021, Crane Video Arcade had provided...
Journalize the following transactions for Pharoah Company. (If no entry is required, select "No Entry" for...
Journalize the following transactions for Pharoah Company. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Sept.1 Purchased supplies for $970 cash. 5 Paid $360 cash dividend to stockholders. 7 Received $5,000 down payment from customer for services to be provided in the future. 16 Received $720 cash...
At the end of its fiscal year, the adjusted trial balance of Pharoah Company is as...
At the end of its fiscal year, the adjusted trial balance of Pharoah Company is as follows: PHAROAH COMPANY Adjusted Trial Balance July 31, 2021 Debit Credit Cash $5,410 Accounts receivable 11,490 Prepaid rent 8,500 Supplies 750 Equipment 19,950 Accumulated depreciation—equipment $5,700 Patents 18,300 Accounts payable 4,295 Interest payable 750 Unearned revenue 2,050 Notes payable (due on July 1, 2023) 46,000 B. Pharoah, capital 28,285 B. Pharoah drawings 16,500 Service revenue 74,900 Interest revenue 320 Depreciation expense 2,850 Interest expense...
Blossom Company had the following trial balance at June 30, 2021 (its year end). Credit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Unearned Revenke Blossom, Capital Totals Debit $5,700 700 1,100 8,640 $3,600 1,300 11,240 $16,140 $16,140 During the month of July, the following selected transactions took place: July 2 Pald $600 cash for rent for July August, and September 10 Purchased $100 of supplies for cash. 14 Collected the full balance of accounts receivable. 20 Received $600 cash from...
The CCBC Corporation had the following opening trial balance at
the beginning of its fiscal year, July 1, 2018:DebitCreditCash$7,700Accounts receivable6,600Supplies1,200Equipment13,800Accumulated
depreciation—equipment$5,500Unearned revenue2,750Common shares6,000Retained earnings15,050Totals$29,300$29,300During the month of July, the following selected transactions took
place:July 2Paid $1,000 for two months’
rent in advance for July and August.7Purchased $200 of supplies on
account.14Collected half of outstanding
accounts receivable.15Borrowed $1,000 from the bank
for one year at an interest rate of 5%.21Received $1,000 cash from a
customer for services to be performed in...
The CCBC Corporation had the following opening trial balance at
the beginning of its fiscal year, July 1, 2018:
Debit
Credit
Cash
$
7,700
Accounts receivable
6,600
Supplies
1,200
Equipment
13,800
Accumulated depreciation—equipment
$
5,500
Unearned revenue
2,750
Common shares
6,000
Retained earnings
15,050
Totals
$
29,300
$
29,300
During the month of July, the following selected transactions took
place:
July 2
Paid $1,000 for two months’ rent in advance for July and
August.
7
Purchased $200 of supplies on...
Conferences Credit Colaborations Debit $5,980 890 1.240 9.792 WileyPLUS Support Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Unearned Revenue Wildhorse, Capital Totals SLOBO 1.400 12,422 $17.902 $17.902 During the month of July, the following selected transactions took places July 2 Paid $810 cash for rent for July August, and September 10 Purchased $120 of supplies for cash. 14 Collected the full balance of accounts receivable. 20 Received $760 cash from a customer for services to be provided in August 25...
QUESTION HERE:
This is the trial balance of Pharoah Company on September 30. PHAROAH COMPANY Trial Balance September 30, 2022 Debit Credit Cash $23,940 Accounts Receivable 7,340 Supplies 4,530 Equipment 10,430 Accounts Payable $ 9,540 Unearned Service Revenue 3,530 Common Stock 19,740 Retained Earnings 13,430 $46,240 $46,240 The October transactions were as follows. Oct. 5 Received $1,330 in cash from customers for accounts receivable due. 10 Billed customers for services performed $5,660. 15 Paid employee salaries $1,270. 17 Performed $600...
Pharoah Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transactions. (If no entry is required, select "No entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Aug. 2 7 12. Invested $12,320 cash and $2,710 of equipment in the business. Purchased supplies on account for $480. (Debit asset account.) Performed services for clients, for which $1,193...
The unadjusted trial balance for Crane Video Arcade at its fiscal year end of May 31, 2021, is as follows: CRANE VIDEO ARCADE Trial Balance May 31, 2021 Debit Credit Cash $5,940 Supplies 2,910 Equipment 115,000 Accumulated depreciation-equipment $46,000 Notes payable 60,000 Unearned revenue 1,500 V. Gupta, capital 32,200 V. Gupta, drawings 35,400 Service revenue 81,250 Rent expense 12,600 Salaries expense 45,800 Interest expense 3,300 Totals $220,950 $220,950 Additional information: 1. On May 31, 2021, Crane Video Arcade had provided...
Journalize the following transactions for Pharoah Company. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Sept.1 Purchased supplies for $970 cash. 5 Paid $360 cash dividend to stockholders. 7 Received $5,000 down payment from customer for services to be provided in the future. 16 Received $720 cash...
Most questions answered within 3 hours.
-
For the data set shown below, complete parts (a) through (d)
below. x 3 4 5...
asked 2 minutes ago -
A university administrator working in student housing wants to
determine if the percentage of students residing...
asked 16 minutes ago -
3). Describe human population growth that has occurred in the
past 400 years. Use terms learned...
asked 13 minutes ago -
A
projectile is blue at a target. The distance from the point of
impact to the...
asked 38 minutes ago -
Given a 32 bit processor, with 2 MB of physical RAM split into 512
frames. What...
asked 28 minutes ago -
What were the main rulings in the Supreme Court cases which are
Morgan v. Virginia (1946)...
asked 27 minutes ago -
write a five paragraph essay on how setting,
specifically culture, influences the actions of
the characters...
asked 19 minutes ago -
JAVA
Provide a simple code sample of Merge sort
asked 30 minutes ago -
Discounting cash flows involves:
A. taking the cash discount offered on a trade merchandise
B. estimating...
asked 37 minutes ago -
A solid wood door 1.00 m wide and 2.00 m high is hinged along
one side...
asked 37 minutes ago -
Raleigh Company manufactures two joint products. At the
split-off point, they have sales values of:
Product...
asked 37 minutes ago -
1. Your grandmother has invested $4000 in a mutual fund each
year on your birthday (she...
asked 39 minutes ago