Homework Answers
Journal Entries.
| S No | Account Titles | Debit | Credit |
| a. | Cash | $19,500 | |
| Owner's Equity | $19,500 | ||
| b. | Supplies | $4,500 | |
| Cash | $2,100 | ||
| Accounts Payable | $2,400 | ||
| c. | Prepaid Insurance | $1,400 | |
| Cash | $1,400 | ||
| d | Cash | $1,400 | |
| Accounts Receivable | $1,900 | ||
| Sales Revenue | $4,500 | ||
| e | Accounts Payable | $2,050 | |
| Cash | $2,050 | ||
| f | Rent Expense | $650 | |
| Cash | $650 | ||
| g | Drawing's | $100 | |
| Cash | $100 |
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a. Invested cash in business, $19,500. b. Bought office supplies for $4,500:...
UUUN Calculator Effect of Transactions on Accounting Equation Jay Pembroke started a business. During the first...
UUUN Calculator Effect of Transactions on Accounting Equation Jay Pembroke started a business. During the first month (April 20-), the following transactions occurred. a. Invested cash in business, $19,500. b. Bought office supplies for $4,500: $2,100 in cash and $2,400 on account. c. Paid one-year insurance premium, $1,400. d. Earned revenues totaling $3,300: $1,400 in cash and $1,900 on account. e. Paid cash on account to the company that supplied the office supplies in transaction (b), $2,050. f. Paid office...
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a. Kacy Spade, owner, Invested $12750 b. The company purchased office supplies for $370 cash. c. The company purchased $7,051 of office equipment on credit. d. The company recelved $1,505 cash as fees for services provided to a customer e. The company paid $7051 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,703 as fees for services provided g. The company pald $520 cash for the monthly rent. h....
a. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market...
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Transactions On June 1 of the current year, Pamela Schatz established a business to manage rental...
Transactions
On June 1 of the current year, Pamela Schatz established a
business to manage rental property. She completed the following
transactions during June:
Opened a business bank account with a deposit of $55,000 from
personal funds.
Purchased office supplies on account, $3,300.
Received cash from fees earned for managing rental property,
$18,300.
Paid rent on office and equipment for the month, $8,300.
Paid creditors on account, $2,290.
Billed customers for fees earned for managing rental property,
$30,800.
Paid automobile...
The following seven transactions produced the account balances shown above. a. Y. Min invested $23,000 cash...
The following seven transactions produced the account balances shown above. a. Y. Min invested $23,000 cash in the business. b. Paid $8,390 cash for monthly rent expense for May. c. Paid $5,400 cash in advance for the annual insurance premium beginning the next period. d. Purchased office supplies for $810 cash. e. Purchased $11,000 of office equipment on credit (with accounts payable). f. Received $43,000 cash for engineering services provided in May. g. Y. Min withdrew $4,321 cash for personal...
a.Venedict invested $82,000 cash along with office equipment valued at $22,000 new business named HV Consulting...
a.Venedict invested $82,000 cash along with office equipment valued
at $22,000 new business named HV Consulting in exchange for common
stock. b. The company purchased land valued at $35,000 and a
building valued at $ 160,000. The purchase is paid with $25,000
cash and a long-term note payable for $170,000 c. The comparty
purchased $1700 of office supplies on credit d Venedict invested
her personal automobile in the company in exchange for more common
stock. The automobile has a value...
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $15,750 cash in the...
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $15,750 cash in the company. b. The company purchased office supplies for $457 cash. C. The company purchased $8,710 of office equipment on credit. d. The company received $1,859 cash as fees for services provided to a customer e. The company paid $8,710 cash to settle the payable for the office equipment purchased in transaction c! f. The company billed a customer $3,339 as fees for services provided....
1 G. Gram invested $43,000 cash in the company. 1 The company rented a furnished office...
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I need to complete the tabular analysis of the transactions. On April 1, Nancy Jackson established...
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UUUN Calculator Effect of Transactions on Accounting Equation Jay Pembroke started a business. During the first month (April 20-), the following transactions occurred. a. Invested cash in business, $19,500. b. Bought office supplies for $4,500: $2,100 in cash and $2,400 on account. c. Paid one-year insurance premium, $1,400. d. Earned revenues totaling $3,300: $1,400 in cash and $1,900 on account. e. Paid cash on account to the company that supplied the office supplies in transaction (b), $2,050. f. Paid office...
a. Kacy Spade, owner, Invested $12750 b. The company purchased office supplies for $370 cash. c. The company purchased $7,051 of office equipment on credit. d. The company recelved $1,505 cash as fees for services provided to a customer e. The company paid $7051 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,703 as fees for services provided g. The company pald $520 cash for the monthly rent. h....
a. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value. b. The company paid $2,000 cash for rent of office space for the month. c. The company purchased $18,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected the $1,600 cash earned. e. The company completed work for a client and sent a bill for $7,300 to be received within 30...
Transactions
On June 1 of the current year, Pamela Schatz established a
business to manage rental property. She completed the following
transactions during June:
Opened a business bank account with a deposit of $55,000 from
personal funds.
Purchased office supplies on account, $3,300.
Received cash from fees earned for managing rental property,
$18,300.
Paid rent on office and equipment for the month, $8,300.
Paid creditors on account, $2,290.
Billed customers for fees earned for managing rental property,
$30,800.
Paid automobile...
The following seven transactions produced the account balances shown above. a. Y. Min invested $23,000 cash in the business. b. Paid $8,390 cash for monthly rent expense for May. c. Paid $5,400 cash in advance for the annual insurance premium beginning the next period. d. Purchased office supplies for $810 cash. e. Purchased $11,000 of office equipment on credit (with accounts payable). f. Received $43,000 cash for engineering services provided in May. g. Y. Min withdrew $4,321 cash for personal...
a.Venedict invested $82,000 cash along with office equipment valued
at $22,000 new business named HV Consulting in exchange for common
stock. b. The company purchased land valued at $35,000 and a
building valued at $ 160,000. The purchase is paid with $25,000
cash and a long-term note payable for $170,000 c. The comparty
purchased $1700 of office supplies on credit d Venedict invested
her personal automobile in the company in exchange for more common
stock. The automobile has a value...
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $15,750 cash in the company. b. The company purchased office supplies for $457 cash. C. The company purchased $8,710 of office equipment on credit. d. The company received $1,859 cash as fees for services provided to a customer e. The company paid $8,710 cash to settle the payable for the office equipment purchased in transaction c! f. The company billed a customer $3,339 as fees for services provided....
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