Homework Answers
| No. | Basic Type | Effect | Specific Account | Amount | |
| 1 | Debit | Asset | Increase | Supplies | $ 485 |
| Credit | Asset | Decrease | Cash | $ 485 | |
| 2 | Debit | Asset | Increase | Cash | $ 1,840 |
| Credit | Equity | Increase | Service revenue | $ 1,840 | |
| 3 | Debit | Asset | Increase | Equipment | $ 2,380 |
| Credit | Liability | Increase | Accounts payable | $ 2,380 | |
| 4 | Debit | Equity | Decrease | Utilities expense | $ 285 |
| Credit | Asset | Decrease | Cash | $ 285 | |
| 5 | Debit | Asset | Increase | Cash | $ 740 |
| Credit | Equity | Increase | Service revenue | $ 740 | |
| 6 | Debit | Asset | Increase | Cash | $ 7,120 |
| Credit | Liability | Increase | Unearned service revenue | $ 7,120 |
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Skysong Legal Services had...
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are...
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $13,000 in cash. Purchased used car for $10,000 cash for use in business. Purchased supplies on account for $200. Billed customers $3,700 for services performed. Paid $100 cash for advertising start of the business. Received $1,100 cash from customers billed in transaction (4). Paid creditor $150 cash on account....
Question 5 Selected transactions for Front Room, an interior decorator corporation, in its first month of...
Question 5 Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $16,500 in cash. Purchased used car for $10,200 cash for use in business. Purchased supplies on account for $250. Billed customers $3,790 for services performed. Paid $130 cash for advertising start of the business. Received $1,770 cash from customers billed in transaction (4). Paid creditor $220 cash...
Question 5 View Policies Current Attempt in Progress Selected transactions for Ayayai, an interior decorator corporation,...
Question 5 View Policies Current Attempt in Progress Selected transactions for Ayayai, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $16,500 in cash. 2. Purchased used car for $10.200 cash for use in business. 3. Purchased supplies on account for $250. 4. Billed customers $3,790 for services performed. 5. Paid $130 cash for advertising at the start of the business. 6. Received $1,770 cash from customers billed in transaction...
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are...
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $15,100 in cash. 2. Purchased used car for $10,000 cash for use in business. 3. Purchased supplies on account for $360. 4. Billed customers $3,720 for services performed. 5. Paid $130 cash for advertising start of the business. 6. Received $1,920 cash from customers billed in transaction (4). 7. Paid creditor $200 cash on account. 8....
Question homework IDIC Question 5 Selected transactions for Front Room, an interior decorator corporation, in its...
Question homework
IDIC Question 5 Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $17,000 in cash. Purchased used car for $10,000 cash for use in business. Purchased supplies on account for $340. Billed customers $4,620 for services performed. Paid $140 cash for advertising start of the business. Received $1,460 cash from customers billed in transaction (4). Paid...
Exercises CHAPTER 2 A list of accounts and their balances at a specific time Used to...
Exercises CHAPTER 2 A list of accounts and their balances at a specific time Used to decrease the balance in an asset account A list of all of a company's accounts An accounting record where transactions are recorded in chronological (date) order (g) (h) () E2-3 Kobayashi Company has the following accounts: Identify type of account, financial statement, and normal balance. Explain normal balances. (LO 1) (1) Account (2) Financial Statement Type of Account (3) Normal Balance Cash Asset M....
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are...
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $14,600 in cash. Purchased used car for $10,100 cash for use in business. Purchased supplies on account for $340. Billed customers $5.510 for services performed Paid $150 cash for advertising start of the business Received $1,100 cash from customers billed in transaction (4) Paid creditor $420 cash on account....
please help me fill out the chart and journalize the transactions Selected transactions for Moneyaninerior decorator...
please help me fill out the chart and journalize the
transactions
Selected transactions for Moneyaninerior decorator corporation in its best month of business w as follows 1 stock to estors for $15.700 in cash 2. Purchased used car for $10.300 cash for use in business 1 Purchased supplies on account for 5330 4 Billed customers 55.290 for services performed 5. Paid 5190 cash for advertising at the start of the business 6. Received 51.290 cash from customers billed in transaction...
7 Wunderkind Photography entered into the following transactions during February 2019. 1. Stockholders invested $5,000 in...
7 Wunderkind Photography entered into the following transactions during February 2019. 1. Stockholders invested $5,000 in the business. 2. Bought photography equipment for a cash payment of $1,000. 3. Bought more photography equipment by signing a $500 note payable. 4. Performed photography services for $400 cash. 5. Performed photography services, and billed the customer $900 on account 6. Collected $900 from the customer in item 5. 7. Paid for February developing and printing, $150. 8. Advertised the business in the...
c. Provided day care to puppies during the year. Total amount for these services is $65,000....
c. Provided day care to puppies during the year. Total amount for these services is $65,000. $9,000 of this was paid with credit, the rest was received in cash. Accounts Debit Credit d. Paid salaries of $22,000 cash for employees that worked throughout the year. Accounts Debit Credit e. Incurred $8,000 in rent. All was paid in cash. Accounts Debit Credit f. Purchased on account supplies for future use, $10,000. Accounts Debit Credit
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $13,000 in cash. Purchased used car for $10,000 cash for use in business. Purchased supplies on account for $200. Billed customers $3,700 for services performed. Paid $100 cash for advertising start of the business. Received $1,100 cash from customers billed in transaction (4). Paid creditor $150 cash on account....
Question 5 Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $16,500 in cash. Purchased used car for $10,200 cash for use in business. Purchased supplies on account for $250. Billed customers $3,790 for services performed. Paid $130 cash for advertising start of the business. Received $1,770 cash from customers billed in transaction (4). Paid creditor $220 cash...
Question 5 View Policies Current Attempt in Progress Selected transactions for Ayayai, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $16,500 in cash. 2. Purchased used car for $10.200 cash for use in business. 3. Purchased supplies on account for $250. 4. Billed customers $3,790 for services performed. 5. Paid $130 cash for advertising at the start of the business. 6. Received $1,770 cash from customers billed in transaction...
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $15,100 in cash. 2. Purchased used car for $10,000 cash for use in business. 3. Purchased supplies on account for $360. 4. Billed customers $3,720 for services performed. 5. Paid $130 cash for advertising start of the business. 6. Received $1,920 cash from customers billed in transaction (4). 7. Paid creditor $200 cash on account. 8....
Question homework
IDIC Question 5 Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $17,000 in cash. Purchased used car for $10,000 cash for use in business. Purchased supplies on account for $340. Billed customers $4,620 for services performed. Paid $140 cash for advertising start of the business. Received $1,460 cash from customers billed in transaction (4). Paid...
Exercises CHAPTER 2 A list of accounts and their balances at a specific time Used to decrease the balance in an asset account A list of all of a company's accounts An accounting record where transactions are recorded in chronological (date) order (g) (h) () E2-3 Kobayashi Company has the following accounts: Identify type of account, financial statement, and normal balance. Explain normal balances. (LO 1) (1) Account (2) Financial Statement Type of Account (3) Normal Balance Cash Asset M....
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $14,600 in cash. Purchased used car for $10,100 cash for use in business. Purchased supplies on account for $340. Billed customers $5.510 for services performed Paid $150 cash for advertising start of the business Received $1,100 cash from customers billed in transaction (4) Paid creditor $420 cash on account....
please help me fill out the chart and journalize the
transactions
Selected transactions for Moneyaninerior decorator corporation in its best month of business w as follows 1 stock to estors for $15.700 in cash 2. Purchased used car for $10.300 cash for use in business 1 Purchased supplies on account for 5330 4 Billed customers 55.290 for services performed 5. Paid 5190 cash for advertising at the start of the business 6. Received 51.290 cash from customers billed in transaction...
7 Wunderkind Photography entered into the following transactions during February 2019. 1. Stockholders invested $5,000 in the business. 2. Bought photography equipment for a cash payment of $1,000. 3. Bought more photography equipment by signing a $500 note payable. 4. Performed photography services for $400 cash. 5. Performed photography services, and billed the customer $900 on account 6. Collected $900 from the customer in item 5. 7. Paid for February developing and printing, $150. 8. Advertised the business in the...
c. Provided day care to puppies during the year. Total amount for these services is $65,000. $9,000 of this was paid with credit, the rest was received in cash. Accounts Debit Credit d. Paid salaries of $22,000 cash for employees that worked throughout the year. Accounts Debit Credit e. Incurred $8,000 in rent. All was paid in cash. Accounts Debit Credit f. Purchased on account supplies for future use, $10,000. Accounts Debit Credit
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