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Geo Inc. had the following account balances on January 1, 2018: $ 749 3,000 3,000 30,000...
Geo Inc. had the following account balances on January 1, Year 2 Accounts Payable Accounts Receivable...
Geo Inc. had the following account balances on January 1, Year 2 Accounts Payable Accounts Receivable Cash Common Stock Equipment Note Payable Retained Earnings Salaries and Wages Expense Supplies $ 713 1,800 1,800 15,000 2,100 3.400 3,911 4,300 1,060 Required Prepare journal entries for each of the following January activities, and post results to the relevant T- accounts. Compute the ending balance of each T-account. Beginning balances have been entered. (If no entry is required for a transactionlevent, select "No...
Geo Inc. had the following account balances on January 1, Year 2- Accounts Payable Accounts Receivable...
Geo Inc. had the following account balances on January 1, Year 2- Accounts Payable Accounts Receivable Cash Common Stock Equipment Notes Payable Retained Earnings Salaries and Wages Expense Supplies $ 701 1.400 1.400 10,000 1,300 2,600 3.411 3,900 580 A Paid $701 on account for utilities that were used during December Year 1 B. Purchased $443 of supplies for cash. C. Signed a rental agreement for office space and paid $4,300 in advance for six months of rent beginning February...
Geo Inc. had the following account balances on January 1, Year 2. Accounts Payable Accounts Receivable...
Geo Inc. had the following account balances on January 1, Year 2. Accounts Payable Accounts Receivable Cashi Common Stock Equipment Notes Payable Retained Earnings Salaries and Wages Expense Supplies 5728 2,300 2,300 20,000 3,100 4,400 4,536 4.800 1.660 A Paid $728 on account for utilities that were used during December Year 1 B. Purchased $488 of supplies for cash. C. Signed a rental agreement for office space and paid $6,100 in advance for six months of rent beginning February 1,...
Please answerPlease answer Geo Inc. had the following account balances on January 1, Year2: Accounts Payable...
Please answerPlease answer
Geo Inc. had the following account balances on January 1, Year2: Accounts Payable Accounts Receivable Cash Common Stock Equlpment Note Payable Retained Earnings S 731 2,400 2,400 20,000 3,300 4,600 4,661 4,900 1,780 Salamies and Wages Expense4 Supplies Required: Prepare jounal entries for each of the following January activities, and post results to the relevant T accounts. Compute the ending balance of each T-account. Beginning balances have been entered. (If no entry is required for a transaction/event,...
need help solving On January 1, 2018, Dakota, Inc., had the following account balances in its...
need help solving
On January 1, 2018, Dakota, Inc., had the following account balances in its general ledger. All accounts have a "normal" type of balance, i.e., a debitor credit balance, depending on the type of acc Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Interest Payable Utilities Payable Unearned Revenue Notes Payable Owner Capital Withdrawals Service Revenue Rent Expense Salaries Expense Insurance Expense Supplies Expense Utilities Expense Depreciation Expense Interest Expense $255,000 160,000 60,000 0 550,000...
In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $15,000 cash for...
In January, Tongo, Inc., a branding consultant, had the
following transactions.
a.
Received $15,000 cash for consulting services rendered in
January.
b.
Issued common stock to investors for $12,000 cash.
c.
Purchased $16,000 of equipment, paying 25 percent in cash and
owing the rest on a note due in 2 years.
d.
Received $8,300 cash for consulting services to be performed
in February.
e.
Bought $1,230 of supplies on account.
f.
Received utility bill for January for $1,500, due February...
Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.)...
Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows the amounts are rounded to thousands of dollars to simplify): Debit Credit Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-ters) Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock Retained Earnings Service Revenue...
Required information (The following information applies to the questions displayed below.] Following are account balances (in...
Required information (The following information applies to the questions displayed below.] Following are account balances (in millions of dollars) from a recent FedEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Balance $ 18,143 15,316 1,962 Balance $ 5,231 740 2,588 Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long-term notes payable Other noncurrent assets Common stock ($0.10 par...
Following are the transactions of Dennen Inc. for the month of January 2018. The effect of...
Following are the transactions of Dennen Inc. for the month of January 2018. The effect of these transactions is not included in the begininng balances shown. a. Borrowed $30,000 from a local bank. b. Lent $10,000 to an affiliate; accepted a note due in one year. c. Sold 100 additional shares to investors for $500 cash. d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year. e. Declared and paid $2,000...
Laser Delivery Services, Inc. (LDS) was incorporated January 1. The following transactions occurred during the year:...
Laser Delivery Services, Inc. (LDS) was incorporated January 1. The following transactions occurred during the year: a. Received $28,000 cash from the company's founders in exchange for common stock. b. Purchased land for $9,500, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $10,000 each; paid $2,500 cash and signed a note due in three years for $17,500 (ignore interest). d. Paid $900 cash to a truck...
Geo Inc. had the following account balances on January 1, Year 2 Accounts Payable Accounts Receivable Cash Common Stock Equipment Note Payable Retained Earnings Salaries and Wages Expense Supplies $ 713 1,800 1,800 15,000 2,100 3.400 3,911 4,300 1,060 Required Prepare journal entries for each of the following January activities, and post results to the relevant T- accounts. Compute the ending balance of each T-account. Beginning balances have been entered. (If no entry is required for a transactionlevent, select "No...
Geo Inc. had the following account balances on January 1, Year 2- Accounts Payable Accounts Receivable Cash Common Stock Equipment Notes Payable Retained Earnings Salaries and Wages Expense Supplies $ 701 1.400 1.400 10,000 1,300 2,600 3.411 3,900 580 A Paid $701 on account for utilities that were used during December Year 1 B. Purchased $443 of supplies for cash. C. Signed a rental agreement for office space and paid $4,300 in advance for six months of rent beginning February...
Geo Inc. had the following account balances on January 1, Year 2. Accounts Payable Accounts Receivable Cashi Common Stock Equipment Notes Payable Retained Earnings Salaries and Wages Expense Supplies 5728 2,300 2,300 20,000 3,100 4,400 4,536 4.800 1.660 A Paid $728 on account for utilities that were used during December Year 1 B. Purchased $488 of supplies for cash. C. Signed a rental agreement for office space and paid $6,100 in advance for six months of rent beginning February 1,...
Please answerPlease answer
Geo Inc. had the following account balances on January 1, Year2: Accounts Payable Accounts Receivable Cash Common Stock Equlpment Note Payable Retained Earnings S 731 2,400 2,400 20,000 3,300 4,600 4,661 4,900 1,780 Salamies and Wages Expense4 Supplies Required: Prepare jounal entries for each of the following January activities, and post results to the relevant T accounts. Compute the ending balance of each T-account. Beginning balances have been entered. (If no entry is required for a transaction/event,...
need help solving
On January 1, 2018, Dakota, Inc., had the following account balances in its general ledger. All accounts have a "normal" type of balance, i.e., a debitor credit balance, depending on the type of acc Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Interest Payable Utilities Payable Unearned Revenue Notes Payable Owner Capital Withdrawals Service Revenue Rent Expense Salaries Expense Insurance Expense Supplies Expense Utilities Expense Depreciation Expense Interest Expense $255,000 160,000 60,000 0 550,000...
In January, Tongo, Inc., a branding consultant, had the
following transactions.
a.
Received $15,000 cash for consulting services rendered in
January.
b.
Issued common stock to investors for $12,000 cash.
c.
Purchased $16,000 of equipment, paying 25 percent in cash and
owing the rest on a note due in 2 years.
d.
Received $8,300 cash for consulting services to be performed
in February.
e.
Bought $1,230 of supplies on account.
f.
Received utility bill for January for $1,500, due February...
Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows the amounts are rounded to thousands of dollars to simplify): Debit Credit Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-ters) Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock Retained Earnings Service Revenue...
Required information (The following information applies to the questions displayed below.] Following are account balances (in millions of dollars) from a recent FedEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Balance $ 18,143 15,316 1,962 Balance $ 5,231 740 2,588 Account Property and equipment (net) Retained earnings Accounts payable Prepaid expenses Accrued expenses payable Long-term notes payable Other noncurrent assets Common stock ($0.10 par...
Following are the transactions of Dennen Inc. for the month of January 2018. The effect of these transactions is not included in the begininng balances shown. a. Borrowed $30,000 from a local bank. b. Lent $10,000 to an affiliate; accepted a note due in one year. c. Sold 100 additional shares to investors for $500 cash. d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year. e. Declared and paid $2,000...
Laser Delivery Services, Inc. (LDS) was incorporated January 1. The following transactions occurred during the year: a. Received $28,000 cash from the company's founders in exchange for common stock. b. Purchased land for $9,500, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $10,000 each; paid $2,500 cash and signed a note due in three years for $17,500 (ignore interest). d. Paid $900 cash to a truck...
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