Homework Answers
b. Marcus James, Drawing 6,400
Cash . 6,400
(Being cash withdraw for personal use)
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The owner, Marcus James, withdrew $6,400 from the business for personal use. Which of the following...
Molly Martin, the owner of Smart Consulting, withdrew $2,000 cash from the company for personal use....
Molly Martin, the owner of Smart Consulting, withdrew $2,000 cash from the company for personal use. Identify the general journal entry below that Smart Consulting will make to record the transaction. Multiple Choice 2,000 M. Martin, withdrawals Cash 2,000 O 2, eee M. Martin, Capital Cash 2, eee 2,000 M. Martin, Withdrawals M. Martin, Capital 2,000 2,000 Cash M. Martin, Capital 2,000 2,000 Cash M. Martin, withdrawals 2,000
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $16,000 cash in the...
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $16,000 cash in the company. b. The company purchased office supplies for $464 cash. c. The company purchased $8,848 of office equipment on credit. d. The company received $1,888 cash as fees for services provided to a customer. e. The company paid $8,848 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,392 as fees for services provided...
i need the balance torekinprogressolse ter 2 Homework eBook Calculator a. Withdrew cash for personal use,...
i need the balance
torekinprogressolse ter 2 Homework eBook Calculator a. Withdrew cash for personal use, 3100. Required: Show the effect of each transaction on the individual accounts of the expanded accounting equation: Asses-Labis + Owner's Equity (Capital Drawing +Revenues - Expenses). After transaction (o), report the totals for each element. Use the minus sign to indicate a decrease or reduction in the account. If an amount box does not require an entry, leave it blank. Assets Liabilities + Owner's...
why can the owner of a business withdraw assets from that business for personal use
why can the owner of a business withdraw assets from that business for personal use?b. why would the owner withdraw assets other than cash?
QUESTION 5 2 points Save Answer The owner withdrew R800 from petty cash. The inexperienced bookkeeper...
QUESTION 5 2 points Save Answer The owner withdrew R800 from petty cash. The inexperienced bookkeeper made the following incorrect entry: Debit Capital and Credit Petty Cash R800. Which option is the correction of the mistake? O Debit Petty Cash R800; Credit Capital R800 Debit Drawings R1 600; Credit Capital R1 600. O Debit Drawings R800; Credit Capital R800. O O Debit Petty Cash R1 600; Credit Capital R800 and Credit Drawings R800
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $14,000 cash in the...
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $14,000 cash in the company. b. The company purchased office supplies for $406 cash. c. The company purchased $7,742 of office equipment on credit. d. The company received $1,652 cash as fees for services provided to a customer e. The company paid $7,742 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,968 as fees for services provided....
Prepare Journal entries Paid rent for two months in advance, $500 Purchase office supplies for $2...
Prepare Journal entries Paid rent for two months in advance, $500 Purchase office supplies for $200 and office equipment for $1,100 on account Billed a customer for fees earned, $2,000 Paid telephone bill, $150 Owner withdrew $475 from the business for personal use Received $600 for fees earned Paid salaries expense, $800
A business has the following transactions: The business received $15,000 cash from owner contribution. The business...
A business has the following transactions: The business received $15,000 cash from owner contribution. The business purchases $800 of office supplies on account. The business purchases $4,000 of furniture on account. * The business renders services to various clients totaling $11,000 on account. * The business pays out $2,000 for salaries expense and $6,000 for rent expense. The business pays $800 to supplier for the office supplies purchased earlier. The business collects $3,000 from one of its clients for services...
answer is not complete The transactions of Spade Company appear below. a. Kacy Spade, owner, invested...
answer is not complete
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $16.250 cash in the company b. The company purchased office supplies for $471 cash. c. The company purchased $8,986 of office equipment on credit d. The company received $1,917 cash as fees for services provided to a customer e. The company paid $8,986 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,445 as...
Following are the transactions of Sustain Company. June 1 T. James, owner, invested $17,000 cash in Sustain Company in exchange for common stock.
Following are the transactions of Sustain Company. June 1 T. James, owner, invested $17,000 cash in Sustain Company in exchange for common stock. 2 The company purchased $10, 000 of furniture made from reclaimed wood on credit. 3 The company paid $1, 800 cash for a 12-month insurance policy on the reclaimed furniture. 4 The company billed a customer $9, 000 in fees earned from preparing a sustainability report. 12 The company paid $10, 000 cash toward the payable from the June 2 furniture purchase. 20...
Molly Martin, the owner of Smart Consulting, withdrew $2,000 cash from the company for personal use. Identify the general journal entry below that Smart Consulting will make to record the transaction. Multiple Choice 2,000 M. Martin, withdrawals Cash 2,000 O 2, eee M. Martin, Capital Cash 2, eee 2,000 M. Martin, Withdrawals M. Martin, Capital 2,000 2,000 Cash M. Martin, Capital 2,000 2,000 Cash M. Martin, withdrawals 2,000
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $16,000 cash in the company. b. The company purchased office supplies for $464 cash. c. The company purchased $8,848 of office equipment on credit. d. The company received $1,888 cash as fees for services provided to a customer. e. The company paid $8,848 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,392 as fees for services provided...
i need the balance
torekinprogressolse ter 2 Homework eBook Calculator a. Withdrew cash for personal use, 3100. Required: Show the effect of each transaction on the individual accounts of the expanded accounting equation: Asses-Labis + Owner's Equity (Capital Drawing +Revenues - Expenses). After transaction (o), report the totals for each element. Use the minus sign to indicate a decrease or reduction in the account. If an amount box does not require an entry, leave it blank. Assets Liabilities + Owner's...
QUESTION 5 2 points Save Answer The owner withdrew R800 from petty cash. The inexperienced bookkeeper made the following incorrect entry: Debit Capital and Credit Petty Cash R800. Which option is the correction of the mistake? O Debit Petty Cash R800; Credit Capital R800 Debit Drawings R1 600; Credit Capital R1 600. O Debit Drawings R800; Credit Capital R800. O O Debit Petty Cash R1 600; Credit Capital R800 and Credit Drawings R800
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $14,000 cash in the company. b. The company purchased office supplies for $406 cash. c. The company purchased $7,742 of office equipment on credit. d. The company received $1,652 cash as fees for services provided to a customer e. The company paid $7,742 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,968 as fees for services provided....
A business has the following transactions: The business received $15,000 cash from owner contribution. The business purchases $800 of office supplies on account. The business purchases $4,000 of furniture on account. * The business renders services to various clients totaling $11,000 on account. * The business pays out $2,000 for salaries expense and $6,000 for rent expense. The business pays $800 to supplier for the office supplies purchased earlier. The business collects $3,000 from one of its clients for services...
answer is not complete
The transactions of Spade Company appear below. a. Kacy Spade, owner, invested $16.250 cash in the company b. The company purchased office supplies for $471 cash. c. The company purchased $8,986 of office equipment on credit d. The company received $1,917 cash as fees for services provided to a customer e. The company paid $8,986 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,445 as...
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