Please show journal entry transactions
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Please show journal entry transactions
| 22 Cupcakes were sold for $10,000 today at the storefront...
Journal entries Prepare journal entries to record the following transactions of a nonprofit hospital: 1. The...
Journal entries Prepare journal entries to record the following transactions of a nonprofit hospital: 1. The hospital billed its uninsured patients for $250,000. Based on historical experience, it expects to collect 45 percent of that amount over time. 2. Nurses and doctors employed by the hospital were paid their salaries, $100,000. 3. The chief administrative officer was paid her salary of $10,000. 4. The hospital paid its utility bill, $5,000. (Transactions 5 - 8 immediately follow.) If a transaction does...
ulah has the following transactions in the month of May, 2018. Show how these transactions can...
ulah has the following transactions in the month of May, 2018. Show how these transactions can be recorded in his JOURNAL. srarres May. 1 Commefced business with a captal of AEDSO,000 with cash and Bank AED25, 000. May.2 Purchased supplies for AED 10,000 cash May.3 Purchased equipment on Credit for AED 10,000 from Modern Suppliers. May.5 Provided service for cash AED 15,000 May.7 Purchased Furniture for business use AED10,000 May.12 Borrowed a loan from ADCB AED 25,000 May.18 Purchased supplies...
Record the following transactions, (If no entry is required for a transaction/event, select "No Journal Entry...
Record the following transactions, (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) (a) Started business by issuing 10,000 shares of common stock for $26.000 (b) Hired Rebecca as an administrative assistant, promising to pay her $2,300 every two weeks. (c) Rented a building for three years at $540 per month and paid six months' rent in advance. (d) Purchased equipment for $5.900 cash. (e) Purchased $1700 of supplies on account....
Record the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry...
Record the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) (a) Started business by issuing 10,000 shares of common stock for $26,000 (b) Hired Rebecca as an administrative assistant, promising to pay her $2,300 every two weeks. (c) Rented a building for three years at $540 per month and paid six months' rent in advance. (d) Purchased equipment for $5,900 cash. (e) Purchased $1,700 of supplies on account....
Posting journal entry 160 Chapter 6 Accounting for Merchandising Businesses Illustrative Problem The following transactions were...
Posting journal entry
160 Chapter 6 Accounting for Merchandising Businesses Illustrative Problem The following transactions were completed by Montrose Company during May of the current year. Montrose Compan y uses a perpetual inventory system. Purchased merchandise on account from Floyd Co., $4,000, terms FOB ship- ping point, 2/10, n/30, with prepaid freight of $120 added to the invoice. Purchased merchandise on account from Kramer Co., $8,500, terms FOB May 3. May 5. destination, 1/10, n/30. 6. Sold merchandise on account...
Create a journal entry and a T-Account for each of the following transactions : a. $5,000...
Create a journal entry and a T-Account for each of the following transactions : a. $5,000 of accounts payable is paid in cash. b. $30,000 of cash is received from taking out a note with the local bank. c. $10,000 of accounts receivable from last year is received in cash. d. $7,000 is paid back on the borrowed note. e. $15,000 worth of equipment is purchased on credit.
Record the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry...
Record the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) (a) Started business by issuing 10,000 shares of common stock for $26.000 (b) Hired Rebecca as an administrative assistant, promising to pay her $2,300 every two weeks. (c) Rented a building for three years at $540 per month and paid six months' rent in advance. (d) Purchased equipment for $5.900 cash. (e) Purchased $1,700 of supplies on account....
Use the horizontal model, or write the journal entry, for each of the following transactions and...
Use the horizontal model, or write the journal entry, for each
of the following transactions and adjustments that occurred during
the first year of operations at Kissick Co.
a. Issued 100,00 shared of $5-par-value common stock for
$500,000 in cash.
B. Borrowed $250,000 from Oglesby National Bank and signed a 12%
note due in three years.
C. Incurred and paid $190,000 in salaries for the year.
D. Purchased $320,000 of merchandise inventory on account during
the year.
E. Sold inventory...
Prepare the necessary journal entries for the above transactions; if a journal entry is not required...
Prepare the necessary journal entries for the above
transactions; if a journal entry is not required explain
why.
Jan The owners, Brad & Jennifer, each put up $250,000 cash as an initial investment into the company. 2 Purchased a pizza oven for $22,000. 3 Purchased inventory from Sysco Company on account for $21,000. 4 Hired five employees to begin work on Feb 15; the salaries for each employee will be set at $12/hour and they are each expected to work...
JOURNAL ENTRIES (17 points). For each of the following transactions prepare the journal entry in proper...
JOURNAL ENTRIES (17 points). For each of the following transactions prepare the journal entry in proper for Amanda's Appliances. Show any applicable calculations. It is not necessary to provide the journal entry explanation. Amanda's Appliances uses the PERPETUAL system of accounting for inventores On June 1, Amanda Appliances purchased $375.000 of inventory count from Burman's Warehouse, FOB Shipping Point. The order was shipped on 6/1. Terms were 2/10, 1/30. Date Account -Debir Credit On June 5, Amanda Appliances paid in...
Journal entries Prepare journal entries to record the following transactions of a nonprofit hospital: 1. The hospital billed its uninsured patients for $250,000. Based on historical experience, it expects to collect 45 percent of that amount over time. 2. Nurses and doctors employed by the hospital were paid their salaries, $100,000. 3. The chief administrative officer was paid her salary of $10,000. 4. The hospital paid its utility bill, $5,000. (Transactions 5 - 8 immediately follow.) If a transaction does...
ulah has the following transactions in the month of May, 2018. Show how these transactions can be recorded in his JOURNAL. srarres May. 1 Commefced business with a captal of AEDSO,000 with cash and Bank AED25, 000. May.2 Purchased supplies for AED 10,000 cash May.3 Purchased equipment on Credit for AED 10,000 from Modern Suppliers. May.5 Provided service for cash AED 15,000 May.7 Purchased Furniture for business use AED10,000 May.12 Borrowed a loan from ADCB AED 25,000 May.18 Purchased supplies...
Record the following transactions, (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) (a) Started business by issuing 10,000 shares of common stock for $26.000 (b) Hired Rebecca as an administrative assistant, promising to pay her $2,300 every two weeks. (c) Rented a building for three years at $540 per month and paid six months' rent in advance. (d) Purchased equipment for $5.900 cash. (e) Purchased $1700 of supplies on account....
Record the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) (a) Started business by issuing 10,000 shares of common stock for $26,000 (b) Hired Rebecca as an administrative assistant, promising to pay her $2,300 every two weeks. (c) Rented a building for three years at $540 per month and paid six months' rent in advance. (d) Purchased equipment for $5,900 cash. (e) Purchased $1,700 of supplies on account....
Posting journal entry
160 Chapter 6 Accounting for Merchandising Businesses Illustrative Problem The following transactions were completed by Montrose Company during May of the current year. Montrose Compan y uses a perpetual inventory system. Purchased merchandise on account from Floyd Co., $4,000, terms FOB ship- ping point, 2/10, n/30, with prepaid freight of $120 added to the invoice. Purchased merchandise on account from Kramer Co., $8,500, terms FOB May 3. May 5. destination, 1/10, n/30. 6. Sold merchandise on account...
Record the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) (a) Started business by issuing 10,000 shares of common stock for $26.000 (b) Hired Rebecca as an administrative assistant, promising to pay her $2,300 every two weeks. (c) Rented a building for three years at $540 per month and paid six months' rent in advance. (d) Purchased equipment for $5.900 cash. (e) Purchased $1,700 of supplies on account....
Use the horizontal model, or write the journal entry, for each
of the following transactions and adjustments that occurred during
the first year of operations at Kissick Co.
a. Issued 100,00 shared of $5-par-value common stock for
$500,000 in cash.
B. Borrowed $250,000 from Oglesby National Bank and signed a 12%
note due in three years.
C. Incurred and paid $190,000 in salaries for the year.
D. Purchased $320,000 of merchandise inventory on account during
the year.
E. Sold inventory...
Prepare the necessary journal entries for the above
transactions; if a journal entry is not required explain
why.
Jan The owners, Brad & Jennifer, each put up $250,000 cash as an initial investment into the company. 2 Purchased a pizza oven for $22,000. 3 Purchased inventory from Sysco Company on account for $21,000. 4 Hired five employees to begin work on Feb 15; the salaries for each employee will be set at $12/hour and they are each expected to work...
JOURNAL ENTRIES (17 points). For each of the following transactions prepare the journal entry in proper for Amanda's Appliances. Show any applicable calculations. It is not necessary to provide the journal entry explanation. Amanda's Appliances uses the PERPETUAL system of accounting for inventores On June 1, Amanda Appliances purchased $375.000 of inventory count from Burman's Warehouse, FOB Shipping Point. The order was shipped on 6/1. Terms were 2/10, 1/30. Date Account -Debir Credit On June 5, Amanda Appliances paid in...
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