Transaction | Account Titles and Explanation | Debit | Credit |
1 | Equipment | $ 8,000 | |
Accounts Payable | $ 8,000 | ||
(To record equipment purchase) | |||
2 | Rent Expense | $ 1,600 | |
Cash | $ 1,600 | ||
(To record rent expense) | |||
3 | Accounts receivable | $ 3,800 | |
Service Revenue | $ 3,800 | ||
[To record service revenue] | |||
4 | Utiities Expense | $ 300 | |
Cash | $ 300 | ||
(To record expense) | |||
5 | Cash | $ 20,000 | |
Bank loan | $ 20,000 | ||
( To record bank loan) | |||
6 | Accounts Payable | $ 8,000 | |
Cash | $ 8,000 | ||
[To record accounts payable] | |||
7 | Prepaid Insurance | $ 500 | |
Cash | $ 500 | ||
(To record insurance paid) | |||
8 | Cash | $ 3,000 | |
Accounts receivable | $ 3,000 | ||
[To record accounts receivable collected] |
Wo Computer Corporation had the following opening account balances at the end of April: Cash $5000,...
Wo Computer Corporation had the following opening account balances at the end of April: Cash $5000, Accounts receivable $6000, Accounts payable $2000, Common shares $5000 and Retained earnings $4000. It entered the following transactions during the month of May. Prepare a journal entry in good format for the following: 1 Purchased equipment on account for $8000 2 Paid $1600 for rent for the month of May 3 Provided computer services for $3800 on account 4 Paid Sask Power $300 cash...
Eestion 6 ot yet nswered Marked out of 200 Flag question WA Computer Corporation had the following opening account balances at the end of April: Cash $5000, Accounts receivable $6000, Accounts payable $2000, Common shares $5000 and Retained earnings $4000. It entered the following transactions during the mont of May. Prepare a journal entry in good format for the following: 1 Purchased equipment on account for $8000 2 Paid $1600 for rent for the month of May 3 Provided computer...
Carla Vista Computer Corporation had the following opening account balances at the end of April: Cash $4,500; Accounts Receivable $8,000; Accounts Payable $2,500; Common Shares $5,000; and Retained Earnings $5,000. It entered into the following transactions during the month of May: 1. Purchased equipment on account for $7,500. 2. Paid $1,100 for rent for the month of May. 3. Provided computer services for $4,000 on account. 4. Paid Ontario Hydro $400 cash for utilities used in May. 5. Borrowed $20,100...
1. 2. Cullumber Computer Corporation had the following opening account balances at the end of April: Cash $5,000, Accounts Receivable $6,500; Accounts Payable $2,500: Common Shares $5,000; and Retained Earnings $4,000. It entered into the following transactions during the month of May. Purchased equipment on account for $8.400. Paid $2.000 for rent for the month of May. Provided computer services for $3,900 on account. Paid Ontario Hydro $300 cash for utilities used in May. Borrowed $19.800 from the bank. Paid...
Question a Carla Vista Computer Corporation had the following opening account balances at the end of April: Cash $5,000; Accounts Recelvable $5,600; Accounts Payable $2,200; Common Shares $4,500 the month of May Rtaned Earnings $3,900. It entered Into the following transactlons during Purchased equipment on account for $7,300 2. Paid $1,400 far rent for the month of May 3. Provided computer services for $3,900 on account. . Paid Ontario Hydro $200 cash for utilities used in May. 5. Borrowed $21,000...
Cash Opening Balances - November 1, 2018 $ 990 Accounts Receivable $1,000 Prepaid Expenses $ 310 Machinery Accounts Payable $ 1,460 Notes Payable $0 Irwin, Captial $ 4,140 $ 3,300 Required a) Indicate whether the account balances will increase or decrease and by how much, based on each transaction during November. The first transaction has been completed for you. Always ensure that the accounting equation is balanced. Do not enter dollar signs or commas in the input boxes. Use the...
Crane Computer Corperation had the tellowing openina account bolancsthe end of Aprl: Cash $4,800; Accounts Receivable $5,600; Aocounts Payabc s2,200: Common Shares 5,100; and Retained Earnings 3,100. It entered into the tollowing transactons during the morth of Nay: Purhsed equipment an account for ,300. 2. Paid $1,600 far rent for the month of May. 3. Proided computer services for $3,700 on account. 4. Paid Ontano Hydro s300 cash for utilities used in May. 5. Barrowed $18,800 from the bank 6....
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...
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 following information pertains to Ken White's personal financial transactions. Opening Balances -May 1.2016 $11,200 $800 $17,900 $168,800 Unpaid Accounts $5,900 $50,500 Cash Contents of Home Automobile House Bank Loan Transactions for the month of May 2016 1. Paid miscellaneous expenses for the month of May with $1,100 cash 2 Purchased a new computer worth $2,800 with cash. 3. Paid credit card liability of $5,900 (Unpaid Accounts) in full. 4 Paid travel expenses for May with $1,000 cash 5 Purchased...