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.
Homework Answers
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Set up a general journal and record the following selected
transactions?
January 2... purchased 1 year...
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 & 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.
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
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
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...
How do I record the transactions in a general journal? TRANSACTIONS: Date January I January I...
How do I record the transactions in a general journal? TRANSACTIONS: Date January I January I January 1 January 3 January 5 January 7 January 10 January 12 January 15 January 18 January 19 January 20 January 24 January 25 January 30 January 31 January 31 January 31 January 31 Transaction Owner, Tom Ford, invested $260,000 cash along with office equipment that had a $90,000 market value in exchange for 35,000 shares of $10 par value common stock in Celebrity...
Record January transactions in the General Journal and post to the General Ledger. • Record...
Record January
transactions in the General Journal and post to the General
Ledger.
• Record adjusting
entries for January in the General Journal and post to the General
Ledger
. • Prepare the
adjusted trial balance as of January 31
-
Record January transactions in
the General Journal and post to the General Ledger.
• Record adjusting
entries for January in the General Journal and post to the General
Ledger
. • Prepare the
adjusted trial balance as of...
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...
The following transactions for Habari Company occurred during January 2017: Jan 1 Purchased a two-year insurance...
The following transactions for Habari Company occurred during January 2017: Jan 1 Purchased a two-year insurance policy for cash, $8,400. Jan 4 Paid utilities bill that was received in December 2015, $450. Jan 9 Performed a service on account, $12,000. Jan 16 Paid monthly salary to employees, $2,700. Jan 21 Received $18,000 from a customer on account. Jan 25 Received $600 from January 9 transaction. Jan 31 Prepared the adjusting entry for insurance from January 1 transaction. Jan 31 Accrued...
Record the following sclccted transactions for January in a two-column journal. Once you have completed that, answer qu...
Record the following sclccted transactions for January in a two-column journal. Once you have completed that, answer questions 1 5 related to your work (a) Earned $7,000 fees; customer will pay later (b) Purchascd equipment for $45,000, paying $20,000 in cash and the remainder on credit (c) Paid $3,000 for rent for January (d) Purchased $2,500 of supplies on account. (e) A. Allen $1,000 investment in the company. (f) Received $7,000 in cash for fees earned previously. (g) Paid $1,200...
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.
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
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
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...
Record January
transactions in the General Journal and post to the General
Ledger.
• Record adjusting
entries for January in the General Journal and post to the General
Ledger
. • Prepare the
adjusted trial balance as of January 31
-
Record January transactions in
the General Journal and post to the General Ledger.
• Record adjusting
entries for January in the General Journal and post to the General
Ledger
. • Prepare the
adjusted trial balance as of...
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...
The following transactions for Habari Company occurred during January 2017: Jan 1 Purchased a two-year insurance policy for cash, $8,400. Jan 4 Paid utilities bill that was received in December 2015, $450. Jan 9 Performed a service on account, $12,000. Jan 16 Paid monthly salary to employees, $2,700. Jan 21 Received $18,000 from a customer on account. Jan 25 Received $600 from January 9 transaction. Jan 31 Prepared the adjusting entry for insurance from January 1 transaction. Jan 31 Accrued...
Record the following sclccted transactions for January in a two-column journal. Once you have completed that, answer questions 1 5 related to your work (a) Earned $7,000 fees; customer will pay later (b) Purchascd equipment for $45,000, paying $20,000 in cash and the remainder on credit (c) Paid $3,000 for rent for January (d) Purchased $2,500 of supplies on account. (e) A. Allen $1,000 investment in the company. (f) Received $7,000 in cash for fees earned previously. (g) Paid $1,200...
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