Homework Answers
| Brahim Office Services | |||
| Journal entries | |||
| Date | Account | Debit | Credit |
| a | Cash | 10,000 | |
| Computer Equipment | 15,000 | ||
| Capital | 25,000 | ||
| b | Prepaid Insurance | 500 | |
| Cash | 500 | ||
| c | Cash | 100 | |
| Service Revenue | 100 | ||
| d | Office Supplies | 100 | |
| Cash | 100 | ||
| e | Rent expense | 200 | |
| Cash | 200 | ||
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Exercise 3 (5 points) Brahim began Brahim Office Services in October and during that month completed...
45. Rowdy Bolton began Bolton Office Services in October and during that month completed these transactions...
45. Rowdy Bolton began Bolton Office Services in October and during that month completed these transactions a. Invested $10.000 cash, and $15,000 of computer equipment. b. Paid $500 cash for an insurance premium covering the next 12 months cCompleted a word processing assignment for a customer and collected $1,000 cash, d. Paid $200 cash for office supplies e. Paid $2,000 for October's rent Prepare journal entries to record the above transactions. Explanations are unnecessary
A company completed the following transactions during the month of October: I. Purchased office supplies on...
A company completed the following transactions during the month of October: I. Purchased office supplies on account,$5,800. II. Provided services for cash,$22,000. III. Provided services on account,$33,000. IV. Collected cash from a customer on account,$28,000. V. Paid the monthly rent of $4,800. What was the company's total revenue for the month? A.$33,000 B.$83,000 C.$22,000 D.$55,000
A company completed the following transactions during the month of October: I. Purchased office supplies on...
A company completed the following transactions during the month of October: I. Purchased office supplies on account,$5,800. II. Provided services for cash,$25,000. III. Provided services on account,$17,000. IV. Collected cash from a customer on account,$7,800. V. Paid the monthly rent of $13,000. What was the company's net income for the month? A. $29,000 B. $55,000 C. $42,000 D. $17,000
A company completed the following transactions during the month of October: I. Purchased office supplies on...
A company completed the following transactions during the month of October: I. Purchased office supplies on account, $ 5 comma 000. II. Provided services for cash, $ 25 comma 000. III. Provided services on account, $ 32 comma 000. IV. Collected cash from a customer on account, $ 30 comma 000. V. Paid the monthly rent of $ 3 comma 400. What was the company's total revenue for the month?
A company completed the following transactions during the month of October: I. Purchased office supplies on...
A company completed the following transactions during the month of October: I. Purchased office supplies on account, $ 4 comma 400$4,400. II. Provided services for cash, $ 20 comma 000$20,000. III. Provided services on account, $ 15 comma 000$15,000. IV. Collected cash from a customer on account, $ 8 comma 200$8,200. V. Paid the monthly rent of $ 14 comma 000$14,000. What was the company's net income for the month?
company completed the following transactions during the month of October: I. Purchased office supplies on account,...
company completed the following transactions during the month of October: I. Purchased office supplies on account, $ 4 comma 000$4,000. II. Provided services for cash, $ 21 comma 000$21,000. III. Provided services on account, $ 33 comma 000$33,000. IV. Collected cash from a customer on account, $ 31 comma 000$31,000. V. Paid the monthly rent of $ 4 comma 400$4,400. What was the company's total revenue for the month?.
This Question: 3 pts A company completed the following transactions during the month of October 1....
This Question: 3 pts A company completed the following transactions during the month of October 1. Purchased office supplies on account, $5,200. IL Provided services for cash, $23,000. III. Provided services on account, $16,000 IV. Collected cash from a customer on account, $7.400. V. Paid the monthly rent of $16,000. What was the company's net income for the month? O A. $23,000 O B. $39,000 O C. $55,000 OD. $16,000 Click to select your answer. O Type here to search...
everC Construction began operations in March and completed the following transactions during that first month of...
everC Construction began operations in March and completed the following transactions during that first month of operations. SeverCo's stockholders invested $30,000 cash in the company The company purchased $25,000 in construction equipment. It paid $5,000 in cash and signed a note payable promising to pay the $20,000 over the next three years. The company rented office space and paid $1,000 cash for the March rent. The company bought office supplies in the amount of $750 for use over the next...
Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed...
Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice: Transferred cash from a personal bank account to an account to be used for the business, $36,000. Paid October rent for office and workroom, $2,400. Purchased used automobile for $32,800, paying $7,800 cash and giving a note payable for the remainder. Purchased office and computer equipment on account, $9,000. Paid cash for supplies, $2,150. Paid cash...
P2.6B (LO 2, 3, 4) AP Kiersted Financial Services was formed on November 1, 2021. During...
P2.6B (LO 2, 3, 4) AP Kiersted Financial Services was formed on November 1, 2021. During the month of November, the following events and transactions occurred: Nov. 1 Haakon Kiersted, the owner, invested $35,000 cash in the company. He also invested equipment that had originally cost Haakon $25,000 but was currently worth $12.000. 2 Hired one employee to work in the office for a monthly salary of $2,825. 4 5 6 7 16 20 26 Signed a three-year contract to...
45. Rowdy Bolton began Bolton Office Services in October and during that month completed these transactions a. Invested $10.000 cash, and $15,000 of computer equipment. b. Paid $500 cash for an insurance premium covering the next 12 months cCompleted a word processing assignment for a customer and collected $1,000 cash, d. Paid $200 cash for office supplies e. Paid $2,000 for October's rent Prepare journal entries to record the above transactions. Explanations are unnecessary
This Question: 3 pts A company completed the following transactions during the month of October 1. Purchased office supplies on account, $5,200. IL Provided services for cash, $23,000. III. Provided services on account, $16,000 IV. Collected cash from a customer on account, $7.400. V. Paid the monthly rent of $16,000. What was the company's net income for the month? O A. $23,000 O B. $39,000 O C. $55,000 OD. $16,000 Click to select your answer. O Type here to search...
everC Construction began operations in March and completed the following transactions during that first month of operations. SeverCo's stockholders invested $30,000 cash in the company The company purchased $25,000 in construction equipment. It paid $5,000 in cash and signed a note payable promising to pay the $20,000 over the next three years. The company rented office space and paid $1,000 cash for the March rent. The company bought office supplies in the amount of $750 for use over the next...
P2.6B (LO 2, 3, 4) AP Kiersted Financial Services was formed on November 1, 2021. During the month of November, the following events and transactions occurred: Nov. 1 Haakon Kiersted, the owner, invested $35,000 cash in the company. He also invested equipment that had originally cost Haakon $25,000 but was currently worth $12.000. 2 Hired one employee to work in the office for a monthly salary of $2,825. 4 5 6 7 16 20 26 Signed a three-year contract to...
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