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6 POINT PROBLEM due by Monday night 11pm... set up a General Journal & record the...
6 POINT PROBLEM due by Monday night 11pm... set up a General Journal & record the...
6 POINT PROBLEM due by Monday night 11pm... set up a General Journal & record the following selected transactions: JANUARY 2...Purchased a 1 year insurance policy for $600 3 Bought $350 supplies on credit 8 Paid $200 employee wages 9 did a $400 job for a customer on credit 12 paid half the amount owed for the supplies 14 collected in full from the January 9 customer
Set up a General Journal & record the following selected transactions: JANUARY 2 Purchased a 1...
Set up a General Journal & record the following selected transactions: JANUARY 2 Purchased a 1 year insurance policy for $600 JANUARY 3 Bought $350 supplies on credit JANUARY 8 Paid $200 employee wages JANUARY 12 did a $400 job for a customer on credit JANUARY 14 paid half the amount owed for the supplies collected in full from the January 9 customer.
in general journal format/credit debit Set up a general journal and record the following selected transactions?...
in general journal format/credit debit
Set up a general journal and record the following selected transactions? January 2... purchased 1 year insurance policy for $600 3. Bought $350 supplies on credit 8. Paid $200 employee wages 9. Did a $400 job for a customer on credit 12. Paid half the amount owed for the supplies 14. Collection in full from the January 9 customer Please help me with this question thanks a lot.
Set up a general journal and record the following selected transactions? January 2... purchased 1 year...
Set up a general journal and record the following selected transactions? January 2... purchased 1 year insurance policy for $600 3. Bought $350 supplies on credit 8. Paid $200 employee wages 9. Did a $400 job for a customer on credit 12. Paid half the amount owed for the supplies 14. Collection in full from the January 9 customer Please help me with this question thanks a lot.
Make a General Journal from the information below 9/1 Kevin Diaz invested 50000 cash into his...
Make a General Journal from the information below 9/1 Kevin Diaz invested 50000 cash into his new business along with an 80000 piece of land to build on one day 9/2 Purchased 1 year of liability insurance for 2000 9/5 Kevin Diaz hired an employee and owes that employee 400 for work completed 9/7 Signed a 1-year lease for office space costing 700 per month 9/8 Purchased a 500 Ad to promote his business in a local diner. This purchase...
CASH BASIS VERSUS ACCRUAL BASIS ACCOUNTING (11 Marks) The following transactions for January 2020 are as...
CASH BASIS VERSUS ACCRUAL BASIS ACCOUNTING (11 Marks) The following transactions for January 2020 are as follows: 1 Purchased a two-year insurance policy for cash, $1,800 9 Performed a service on account, $800 16 Paid wages to employees, $950 18 Completed a job for a customer and collected $600 cash 23 Collected $500 of the amount owed from May 9 30 Accrued wages of $650 Using the Cash basis of accounting, calculate the Net Income (Loss) for January 2020. (5...
Set up T-accounts for the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment,...
Set up T-accounts for the following accounts: Cash, Accounts
Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated
Depreciation-Equipment, Accounts Payable, Salaries and Wages
Payable, Common Stock, Retained Earnings, Service Revenue, Supplies
Expense, Gasoline, Expense, Depreciation Expense, Insurance
Expense, and Salaries & Wages Expense
Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during its first month of operations. The company uses the calendar year as its reporting period. During December, the company completed the following transactions....
Shiny Cleaners Limited commenced its business on 1st January 2019. Using journal entries, record the accounting...
Shiny Cleaners Limited commenced its business on 1st January 2019. Using journal entries, record the accounting events and adjustments for the month of January 2019 below to illustrate their effects on the Accounting Equation (Assume the business operates on the accrual accounting basis). Jan 2019 1 The owner invested $28,000 into share capital for the busines:s 1 Paid $3,600 cash on 1 year insurance policy effective 1st January 2019. The company has the policy of recording prepayments initially as an...
Hatchett Fabrications, Inc. began their operations on January 1, 2019. Prepare the journal entries to record...
Hatchett Fabrications, Inc. began their operations on January 1, 2019. Prepare the journal entries to record the transactions below. Use the designated space in the Solution Packet. (20 points) 1-Jan M. Hatchett, the owner, invested $75,000 in cash along with equipment valued at $50,000 in the company. 2-Jan The company completed a project for a customer and immediately received $12,000 in cash. 4-Jan The company bought $5,000 in office supplies on credit. 7-Jan The company paid $6,000 in cash for...
PART 1: Journal Entries Smart Touch Learning began operations on December 1. Record the business' transactions...
PART 1: Journal Entries Smart Touch Learning began operations on December 1. Record the business' transactions for the month of December Explanations are not required. Refer to the Chart of Accounts for account titles. Smart Touch Learning began operations on December 1 by receiving $27,000 cash and furniture of a fair value of $11,000 from James Smith. The business issued Smith shares of common stock in exchange for this contribution Date Accounts Debit Credit Paid $1,600 cash for a four-month...
6 POINT PROBLEM due by Monday night 11pm... set up a General Journal & record the following selected transactions: JANUARY 2...Purchased a 1 year insurance policy for $600 3 Bought $350 supplies on credit 8 Paid $200 employee wages 9 did a $400 job for a customer on credit 12 paid half the amount owed for the supplies 14 collected in full from the January 9 customer
in general journal format/credit debit
Set up a general journal and record the following selected transactions? January 2... purchased 1 year insurance policy for $600 3. Bought $350 supplies on credit 8. Paid $200 employee wages 9. Did a $400 job for a customer on credit 12. Paid half the amount owed for the supplies 14. Collection in full from the January 9 customer Please help me with this question thanks a lot.
CASH BASIS VERSUS ACCRUAL BASIS ACCOUNTING (11 Marks) The following transactions for January 2020 are as follows: 1 Purchased a two-year insurance policy for cash, $1,800 9 Performed a service on account, $800 16 Paid wages to employees, $950 18 Completed a job for a customer and collected $600 cash 23 Collected $500 of the amount owed from May 9 30 Accrued wages of $650 Using the Cash basis of accounting, calculate the Net Income (Loss) for January 2020. (5...
Set up T-accounts for the following accounts: Cash, Accounts
Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated
Depreciation-Equipment, Accounts Payable, Salaries and Wages
Payable, Common Stock, Retained Earnings, Service Revenue, Supplies
Expense, Gasoline, Expense, Depreciation Expense, Insurance
Expense, and Salaries & Wages Expense
Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during its first month of operations. The company uses the calendar year as its reporting period. During December, the company completed the following transactions....
Shiny Cleaners Limited commenced its business on 1st January 2019. Using journal entries, record the accounting events and adjustments for the month of January 2019 below to illustrate their effects on the Accounting Equation (Assume the business operates on the accrual accounting basis). Jan 2019 1 The owner invested $28,000 into share capital for the busines:s 1 Paid $3,600 cash on 1 year insurance policy effective 1st January 2019. The company has the policy of recording prepayments initially as an...
Hatchett Fabrications, Inc. began their operations on January 1, 2019. Prepare the journal entries to record the transactions below. Use the designated space in the Solution Packet. (20 points) 1-Jan M. Hatchett, the owner, invested $75,000 in cash along with equipment valued at $50,000 in the company. 2-Jan The company completed a project for a customer and immediately received $12,000 in cash. 4-Jan The company bought $5,000 in office supplies on credit. 7-Jan The company paid $6,000 in cash for...
PART 1: Journal Entries Smart Touch Learning began operations on December 1. Record the business' transactions for the month of December Explanations are not required. Refer to the Chart of Accounts for account titles. Smart Touch Learning began operations on December 1 by receiving $27,000 cash and furniture of a fair value of $11,000 from James Smith. The business issued Smith shares of common stock in exchange for this contribution Date Accounts Debit Credit Paid $1,600 cash for a four-month...
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