Homework Answers
Answer)
Cash T- Account
|
Cash |
|||
|
Debit |
Credit |
||
|
Particulars |
Amount (In $) |
Particulars |
Amount (In $) |
|
Balance b/d (Beginning Balance) |
25,900 |
Salaries |
10,900 |
|
Accounts Receivable |
16,900 |
Rent |
4,900 |
|
Equipment |
9,900 |
Utilities |
2,900 |
|
Bank Loan |
5,900 |
Advertising |
8,900 |
|
Balance c/d (Ending Balance) |
31,000 |
||
|
Total |
58,600 |
Total |
58,600 |
Therefore the ending balance of cash is $ 31,000.
Note: Point No. 8, purchase of supplies on account $ 4,900 does not result in any cash outflow and the same has not been included in the above cash account.
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Exercise 2-14A Post transactions to Cash T-account (LO2-5) Consider the following transactions. 1. Receive cash from...
Exercise 2-14 Post transactions to Cash T-account (LO2-5) Consider the following transactions. 1. Receive cash from...
Exercise 2-14 Post transactions to Cash T-account (LO2-5) Consider the following transactions. 1. Receive cash from customers, $15,600. 2. Pay cash for employee salaries, $9,600. 3. Pay cash for rent, $3,600 4. Receive cash from sale of equipment, $8,600. 5. Pay cash for utilities, $1,600. 6. Receive cash from a bank loan. $4,600 7. Pay cash for advertising, $7,600 8. Purchase supplies on account, $3,600 Required: Post transactions to the Cash T-account and calculate the ending balance Cash Beg. bal....
Consider the following transactions. 1. Receive cash from customers, $15,400. 2. Pay cash for employee salaries,...
Consider the following transactions. 1. Receive cash from customers, $15,400. 2. Pay cash for employee salaries, $9,400. 3. Pay cash for rent, $3,400. 4. Receive cash from sale of equipment, $8,400. 5. Pay cash for utilities, $1,400. 6. Receive cash from a bank loan, $4,400. 7. Pay cash for advertising, $7,400. 8. Purchase supplies on account, $3,400. Required: Post transactions to the Cash T-account and calculate the ending balance. Cash 9,400 Beg. bal. End. bal.
Consider the following transactions. 1. Receive cash from customers, $15,600. 2. Pay cash for employee salaries,...
Consider the following transactions. 1. Receive cash from customers, $15,600. 2. Pay cash for employee salaries, $9,600. 3. Pay cash for rent, $3,600. 4. Receive cash from sale of equipment, $8,60o 5. Pay cash for utilities, $1,600. 6. Receive cash from a bank loan, $4,600. 7. Pay cash for advertising, $7,600. 8. Purchase supplies on account, $3,600. Required: Post transactions to the Cash T-account and calculate the ending balance. Cash Beg. bal. 11,600 (1) 9,600 15,600 8,600 4,600 3,600 1,600...
Required information Exercise 2-20A Record transactions, post to T-accounts, and prepare a trial balance (LO2-4, 2-5,...
Required information Exercise 2-20A Record transactions, post to T-accounts, and prepare a trial balance (LO2-4, 2-5, 2-6) The following information applies to the questions displayed below.) Boilermaker House Painting Company incurs the following transactions for September 1. September 3 Paint houses in the current month for $17,500 on account. 2. September 8 Purchase painting equipment for $18,500 cash. 3. September 12 Purchase office supplies on account for $3,000. 4. September 15 Pay employee salaries of $3,700 for the current month....
Exercise 2-20A Record transactions, post to T-accounts, and prepare a trial balance (LO2-4, 2-5, 2-6) (The...
Exercise 2-20A Record transactions, post to T-accounts, and prepare a trial balance (LO2-4, 2-5, 2-6) (The following information applies to the questions displayed below.) Bollermaker House Painting Company incurs the following transactions for September. 1. September 3 Paint houses in the current month for $17,500 on account. 2. September 8 Purchase painting equipnent for $18,500 cash. 3. September 12 Purchase office supplies on account for $3,000. 4. September 15 Pay employee salaries of $3,700 for the current month. 5. September...
Exercise 2-15A Post transactions to T-accounts (LO2-5) Consider the recorded transactions below. 1. Accounts Receivable Service...
Exercise 2-15A Post transactions to T-accounts (LO2-5) Consider the recorded transactions below. 1. Accounts Receivable Service Revenue Debit Credit 8,800 8,800 2. Supplies Accounts Payable 1,600 1,600 8,800 3. Cash Accounts Receivable 8,800 1,100 Advertising 4. Expense Cash 1,100 5. Accounts Payable Cash 2,300 2,300 1,200 6. Cash Deferred Revenue 1,200 Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $2,000; Accounts Receivable, $2,800;...
Exercise 2-19 Record transactions, post to T-accounts, and prepare a trial balance (LO2-4,2-5, 2-6) (The following...
Exercise 2-19 Record transactions, post to T-accounts, and prepare a trial balance (LO2-4,2-5, 2-6) (The following information applies to the questions displayed below) Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions, 1. January 1 Issue 10,000 shares of common stock in exchange for $39.000 in cash 2. January 5 Purchase land for $22,500. A note payable is signed for the full amount 3. Janunry...
! Required information Problem 2-8A Complete the steps in the measurement of external transactions (LO2-4, 2-5,...
! Required information Problem 2-8A Complete the steps in the measurement of external transactions (LO2-4, 2-5, 2-6) (The following information applies to the questions displayed below.) Pirates Incorporated had the following balances at the beginning of September. PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Credits Cash $ 5,700 Accounts Receivable 1,700 Supplies 6,800 Land 10,400 Accounts Payable $ 6,700 Notes Payable 2,200 Common Stock 8, 200 Retained Earnings 7,500 Totals $24,600 $24,600 The following transactions occur in September. September...
Problem 2-8B Complete the steps in the measurement of external transactions (LO2-4,2-5, 2-6) [The following information...
Problem 2-8B Complete the steps in the measurement of external transactions (LO2-4,2-5, 2-6) [The following information applies to the questions displayed below.) Buckeye Incorporated had the following balances at the beginning of November BUCKEYE INCORPORATED Trial Balance November 1 Accounts Debits Credits Cash $ 3,000 Accounts Receivable 580 Supplies 680 Equipment 9,200 Accounts Payable $ 1,900 Notes Payable 3,800 Common Stock 6,800 Retained Earnings Totals $13,460 $13,460 The following transactions occur in November. November 1 Issue common stock in exchange...
Consider the recorded transactions below. Debit 8,100 Credit 1. Accounts Receivable Service Revenue 8,100 2. Supplies...
Consider the recorded transactions below. Debit 8,100 Credit 1. Accounts Receivable Service Revenue 8,100 2. Supplies Accounts Payable 2,150 2,150 3. Cash Accounts Receivable 9,900 9,900 4. Advertising Expense 1,000 Cash 1,000 5. Accounts Payable Cash 3,400 3,400 6. Cash Deferred Revenue 1,100 1,100 Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $3,100; Accounts Receivable, $3,900; Supplies, $370, Accounts Payable, $3,200; Deferred Revenue,...
Exercise 2-14 Post transactions to Cash T-account (LO2-5) Consider the following transactions. 1. Receive cash from customers, $15,600. 2. Pay cash for employee salaries, $9,600. 3. Pay cash for rent, $3,600 4. Receive cash from sale of equipment, $8,600. 5. Pay cash for utilities, $1,600. 6. Receive cash from a bank loan. $4,600 7. Pay cash for advertising, $7,600 8. Purchase supplies on account, $3,600 Required: Post transactions to the Cash T-account and calculate the ending balance Cash Beg. bal....
Consider the following transactions. 1. Receive cash from customers, $15,400. 2. Pay cash for employee salaries, $9,400. 3. Pay cash for rent, $3,400. 4. Receive cash from sale of equipment, $8,400. 5. Pay cash for utilities, $1,400. 6. Receive cash from a bank loan, $4,400. 7. Pay cash for advertising, $7,400. 8. Purchase supplies on account, $3,400. Required: Post transactions to the Cash T-account and calculate the ending balance. Cash 9,400 Beg. bal. End. bal.
Consider the following transactions. 1. Receive cash from customers, $15,600. 2. Pay cash for employee salaries, $9,600. 3. Pay cash for rent, $3,600. 4. Receive cash from sale of equipment, $8,60o 5. Pay cash for utilities, $1,600. 6. Receive cash from a bank loan, $4,600. 7. Pay cash for advertising, $7,600. 8. Purchase supplies on account, $3,600. Required: Post transactions to the Cash T-account and calculate the ending balance. Cash Beg. bal. 11,600 (1) 9,600 15,600 8,600 4,600 3,600 1,600...
Required information Exercise 2-20A Record transactions, post to T-accounts, and prepare a trial balance (LO2-4, 2-5, 2-6) The following information applies to the questions displayed below.) Boilermaker House Painting Company incurs the following transactions for September 1. September 3 Paint houses in the current month for $17,500 on account. 2. September 8 Purchase painting equipment for $18,500 cash. 3. September 12 Purchase office supplies on account for $3,000. 4. September 15 Pay employee salaries of $3,700 for the current month....
Exercise 2-20A Record transactions, post to T-accounts, and prepare a trial balance (LO2-4, 2-5, 2-6) (The following information applies to the questions displayed below.) Bollermaker House Painting Company incurs the following transactions for September. 1. September 3 Paint houses in the current month for $17,500 on account. 2. September 8 Purchase painting equipnent for $18,500 cash. 3. September 12 Purchase office supplies on account for $3,000. 4. September 15 Pay employee salaries of $3,700 for the current month. 5. September...
Exercise 2-15A Post transactions to T-accounts (LO2-5) Consider the recorded transactions below. 1. Accounts Receivable Service Revenue Debit Credit 8,800 8,800 2. Supplies Accounts Payable 1,600 1,600 8,800 3. Cash Accounts Receivable 8,800 1,100 Advertising 4. Expense Cash 1,100 5. Accounts Payable Cash 2,300 2,300 1,200 6. Cash Deferred Revenue 1,200 Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $2,000; Accounts Receivable, $2,800;...
Exercise 2-19 Record transactions, post to T-accounts, and prepare a trial balance (LO2-4,2-5, 2-6) (The following information applies to the questions displayed below) Green Wave Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions, 1. January 1 Issue 10,000 shares of common stock in exchange for $39.000 in cash 2. January 5 Purchase land for $22,500. A note payable is signed for the full amount 3. Janunry...
! Required information Problem 2-8A Complete the steps in the measurement of external transactions (LO2-4, 2-5, 2-6) (The following information applies to the questions displayed below.) Pirates Incorporated had the following balances at the beginning of September. PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Credits Cash $ 5,700 Accounts Receivable 1,700 Supplies 6,800 Land 10,400 Accounts Payable $ 6,700 Notes Payable 2,200 Common Stock 8, 200 Retained Earnings 7,500 Totals $24,600 $24,600 The following transactions occur in September. September...
Problem 2-8B Complete the steps in the measurement of external transactions (LO2-4,2-5, 2-6) [The following information applies to the questions displayed below.) Buckeye Incorporated had the following balances at the beginning of November BUCKEYE INCORPORATED Trial Balance November 1 Accounts Debits Credits Cash $ 3,000 Accounts Receivable 580 Supplies 680 Equipment 9,200 Accounts Payable $ 1,900 Notes Payable 3,800 Common Stock 6,800 Retained Earnings Totals $13,460 $13,460 The following transactions occur in November. November 1 Issue common stock in exchange...
Consider the recorded transactions below. Debit 8,100 Credit 1. Accounts Receivable Service Revenue 8,100 2. Supplies Accounts Payable 2,150 2,150 3. Cash Accounts Receivable 9,900 9,900 4. Advertising Expense 1,000 Cash 1,000 5. Accounts Payable Cash 3,400 3,400 6. Cash Deferred Revenue 1,100 1,100 Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $3,100; Accounts Receivable, $3,900; Supplies, $370, Accounts Payable, $3,200; Deferred Revenue,...
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