I. Journalize each transaction below: April 1: Provided services totaling $15,000; received 15.25% and the remainder...
May 18: Paid $2,600, an amount owed to a creditor 19: Received $2,000 from customers who were previously billed 20: Provided services totaling $7500; received 10% and the remainder is on account 21: Received $4000 for work to be performed at a future date 22: Purchased a building costing $90,000; paid 12% and signed a 6% note for the remainder 23: Purchased equipment costing $14000; Paid 5% and the remainder is on account 24: Paid salaries, $11,750 25: Provided services...
I. Journalize each transaction below: January 1: Stockholders invested $20,000 in exchange for common stock 2: Purchased supplies on account, $800 2: Purchased a 1 year insurance policy for $8,000 cash 2: Paid $12,000 in advance for rent 2: Signed a 7%, 12-month note at National Bank, 20,000 3: Received $5000 from customer for work to be completed at a future date 4: Received $2,000 for services provided 7: Paid utilities: $500 8: Incurred advertising costs on account, $1000 10:...
1. Prepare a tabular analysis of the transactions below. 1. Stockholders invested $150,000 in the business 2. Provided services totaling $8,500. Received $4000 and the remainder is on account 3. Purchased $1,500 of supplies. Paid 50% and the remainder is on account 4. Purchased office equipment costing $20,000; Paid $5,000 and signed a 1-year note for the remainder 5. Incurred utilities, $2,500 6. Received cash for services provided, $3,500 7. Paid cash for supplies, $450 8. Received cash for services...
Journalize the Transaction. Prepare Trial Balance and the STATEMENT OF FINANCIAL POSITION. Thankyouuu so so much 2. Prepare a Trial Balance 3. Prepare the Statement of Financial Position E. Flores is a painting contractor. During the month of April of the current year, he completed the following transactions: April 2 Invested in the business painting equipment valued at P52,300 and placed P271,000 in a business checking account. 2 Acquired a service vehicle costing P280,000. Paid P50,000 cash and signed a...
Prepare journal entries for the transactions below. A company entered into the following transactions during April. This is the first month of their operation. April 1st: Signed a lease and made a payment of $4,500 to the landlord comprised of three month’s rent covering April, May, and June. April 3rd: Purchased equipment on account for $35,000. April 4th: Purchased supplies for $2,000, paid with cash. April 10th: Performed services and sent a bill of $57,000 to a customer. April 15th:...
P1.6B (LO 4, 5, 6) AP Kensington Bike Repair Shop was started on April 1 by L. Depres. A summary of the April transactions follows: April 1 Invested $21,000 to start the repair shop. 2 Purchased equipment for $9,000, paying $3,000 cash and signing a note payable for the balance. 5 Paid rent for the month, $1,050. Purchased $975 of supplies on account. 9 Received $3,200 in cash from customers for repair services. 16 Provided repair services on account to...
Enter the following transactions in the T-accounts below. Use key letters to identify each transaction. Foot and balance each T-account. Prepare a Trial Balance in good form. h Owner invests $20,000 cash and $300 of supplies in his new business, Happy Hunters. Recorded cash received for services rendered, $2,500. Billed customers for services rendered, $2,800. Received water bill, $240. Purchased supplies for $150 on account. Purchased equipment costing $900, paying $100 down and the remainder on account. Paid for an...
If you missed it. April 22 (Received a telephone bill for 700, due next month) I think you should include it in Journal entries or not. Thankyouuu , If im wrong kindly explain it. 1. Journalize the following transactions. Use two-column worksheet. Establish your worksheet in Microsoft Word by inserting Tables. Formatted Tables will be given extra points. Example, Using the same table, 2. Prepare a Trial Balance 3. Prepare the Statement of Financial Position E. Flores is a painting...
April Transactions Date Transaction Description April 1 Started a landscaping business by making a $50,000 deposit in a company bank account, in exchange for 5,000 shares of $10 par value common stock. April 1 Purchased insurance for the year and paid $3,600 cash. April 1 Paid monthly rental of $2,500 cash on a warehouse to store the landscaping equipment. April 3 Purchased landscaping equipment from Toro for $15,000, paying a downpayment of $10,000 cash, and $5,000 on account. April 5...
April 1 Randy Smith invested $14,000 cash to begin the business; he received common stock for his investment. 2 Paid six months' lease on a van, $2,850. 3 Borrowed $10,000 from a bank and signed a note payable agreeing to repay the $10,000 in one year plus 10 percent interest. 3 Purchased $5,500 of cleaning equipment; paid $2,000 down with the remainder due within 30 days. 4 Purchased cleaning supplies for $4,300 cash. 7 Paid $350 for newspaper advertisements to...