Homework Answers
Answer:
Journal Entry
| Date | Accounts | Amount Dr. | Amount Cr. |
| jan 30 | Salary Account Dr. | $1,200 | |
| To Bank/Cash | $1,200 | ||
| (Being Salary Paid to assistant.) | |||
| Jan 31 | Rent Account Dr. | $1,600 | |
| To Bank /cash | $1,600 | ||
| ( Being Rent PAid Monthly $1,600) | |||
| Jan 31 | Drawing Account Dr. | $2,000 | |
| To Cash | $2,000 | ||
| (Being Cash Wdl form Business) |
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Ned the requirements Date Accounts Debit Credit Jan 30 Prepaid Insurance Cash 1080 1 080 TE...
2 of 2 (0 complete) * More Info Jan. 1 Murphy contributed $78,000 cash to the...
2 of 2 (0 complete) * More Info Jan. 1 Murphy contributed $78,000 cash to the business, Terrence Murphy, Attorney. The business issued common stock to Murphy. Purchased office supplies, $600, and furniture, $1,700, on account. Performed legal services for a client and received $1,000 cash. Purchased a building with a market value of $130,000, and land with a market value of $25,000. The business paid $25,000 cash and signed a note payable to the bank for the remaining amount....
. Record each transaction in the journal, using the following account titles: Cash; Accounts Receivable; Office...
. Record each transaction in
the journal, using the following account titles: Cash; Accounts
Receivable; Office Supplies; Prepaid Insurance; Land; Building;
Furniture; Accounts Payable; Utilities Payable; Notes Payable;
Common Stock; Dividends; Service Revenue; Salaries Expense; Rent
Expense; and Utilities Expense. Explanations are not required.
(Record debits first, then credits. Exclude explanations from
journal entries. Check your spelling carefully and do not
abbreviate. When applicable, use only the account names provided in
the problem statement.)
Requirement 1. Record each transaction in...
1. Record each transaction in the journal, using the following account titles: Cash; Accounts Receivable; Office...
1. Record each transaction in the journal, using the following account titles: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Land, Building, Furniture; Accounts Payable; Utilities Payable; Notes Payable; Common Stock; Dividends; Service Revenue: Salaries Expense; Rent Expense; and Utilities Expense. Explanations are not required. 2. The following four-column accounts have been opened: Cash, 101Accounts Receivable, 111; Office SI oplies, 121, Prepaid Insurance, 131: Land, 141; Building, 151; Furniture, 161; Accounts Payable, 201: Utilities Payable, 211; Notes Payable, 221; Common Stock,...
ACG 2021 Sec 654- Petty Homework: Homework CH2 Score: 0 of 20 pts P2-31A (similar to)...
ACG 2021 Sec 654- Petty Homework: Homework CH2 Score: 0 of 20 pts P2-31A (similar to) 6 of 8 (4 complete) 2018 During the first month of operations, the business completed the following transaction Trey Madden opened a law office on January 1, Click the icon to view the transactions) Requirement 1. Record each transaction in the journal, using the following account tities Cash Accounts Receivable, Office Supplies, Prepai Jan. 1 Madden contributed $63000 cash to the business, Trey Madden....
Requirement 1. Record each transaction in the journal, using the following account titles: Cash; Accounts Receivable;...
Requirement 1. Record each transaction in the journal, using
the following account titles: Cash; Accounts Receivable; Office
Supplies; Prepaid Insurance; Land; Building; Furniture; Accounts
Payable; Utilities Payable; Notes Payable; Common Stock;
Dividends; Service Revenue; Salaries Expense; Rent Expense; and
Utilities Expense. Explanations are not required. (Record debits
first, then credits. Exclude explanations from journal
entries.)
Requirement 2. The following four-column accounts have been
opened: Cash, 101; Accounts Receivable, 111; Office Supplies,
121; Prepaid Insurance, 131; Land, 141; Building, 151;
Furniture,...
Date Account Debit Credit Jan 1 2013 $ 12,000 Prepaid Rent Cash (To record payment of...
Date Account Debit Credit Jan 1 2013 $ 12,000 Prepaid Rent Cash (To record payment of insurance) $ 12,000 Jan 4 2013 $ 1.900 Cash Service Revenue (To record service revenue) $ 1,900 Jan 9 2013 $ 850 Advertising Expense Cash (To record advertising expense payment) $ 850 Jan 10 2013 $ 75 Office Supplies Expense Cash To record purchase of office supplies) $ 75 $ 2,725 Jan 14 2013 Cash Service Revenue (To record service revenue) $ 2.725 Jan...
% P2-31A (similar to) Tony Monson opened a law office on January 1, 2018. During the...
% P2-31A (similar to) Tony Monson opened a law office on January 1, 2018. During the first month of operations, the business completed the following transactions: Click the icon to view the transactions.) Read the requirements Requirement 3. Prepare the trial balance of Tony Monson, Attorney, at January 31, 2018 Review the ledger accounts for the month of January Tony Monson, Attorney Trial Balance January 31, 2018 Balance Account Title Debit Credit Cash Common Stock 79,000 Office Supplies 1.300 Furniture...
Normal Balance Debit Number Name 1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent...
Normal Balance Debit Number Name 1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supplies 1211 Office Equip. 1212 Accum. Depr.-Office Equip. 1311 Computer Equip. 1312 Accum. Depr.-Computer Equip. 1411 Building Cost 1412 Accum. Depr. -Building Debit Debit Debit Debit Debit Credit Debit Credit Debit Credit Debit Credit Credit 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103 Interest Payable 2105 Salaries Payable 2106 Income Taxes Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Capital Stock...
Learning Objectives 3, 4 P2-31A Journalizing transactions, posting journal entries to four-column accounts, and preparing a...
Learning Objectives 3, 4 P2-31A Journalizing transactions, posting journal entries to four-column accounts, and preparing a trial balance Terrence Murphy opened a law office on January 1, 2018. During the first month of operations, the business completed the following transactions: 3. Cash Balance $50, 160 CHAPTER 2 Jan. 1 Murphy contributed $78,000 cash to the business, Terrence Murphy Attorney. The business gave capital to Murphy. 3 Purchased office supplies, $600, and furniture, $1,700, on account. Performed legal services for a...
Journal Cash Acet. relevable PP Insurance PP rent Date Trellalance DR Credit OR DR Accounts Office...
Journal Cash Acet. relevable PP Insurance PP rent Date Trellalance DR Credit OR DR Accounts Office Equipment Owners Eculty De bit 26,000 CR 106.000 Accredevable PP insurance PP rent Ottice supples Office equipment Aco, payabic Owner contribution Withdrawals Revenue UHHes 28,000 H0,000 106,000 Office supplies AccL PAVADIA Owner contribution Omice equipment DR CR 28,000 106,000 4/13 T accounts: 4:19 4:22 $ 105,000 S 106,00n 28,000 106,000 4:25 Transçctions: 4178 Withdrawals CR Revenue CR Utilities O neCR R DR April 1...
2 of 2 (0 complete) * More Info Jan. 1 Murphy contributed $78,000 cash to the business, Terrence Murphy, Attorney. The business issued common stock to Murphy. Purchased office supplies, $600, and furniture, $1,700, on account. Performed legal services for a client and received $1,000 cash. Purchased a building with a market value of $130,000, and land with a market value of $25,000. The business paid $25,000 cash and signed a note payable to the bank for the remaining amount....
. Record each transaction in
the journal, using the following account titles: Cash; Accounts
Receivable; Office Supplies; Prepaid Insurance; Land; Building;
Furniture; Accounts Payable; Utilities Payable; Notes Payable;
Common Stock; Dividends; Service Revenue; Salaries Expense; Rent
Expense; and Utilities Expense. Explanations are not required.
(Record debits first, then credits. Exclude explanations from
journal entries. Check your spelling carefully and do not
abbreviate. When applicable, use only the account names provided in
the problem statement.)
Requirement 1. Record each transaction in...
1. Record each transaction in the journal, using the following account titles: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Land, Building, Furniture; Accounts Payable; Utilities Payable; Notes Payable; Common Stock; Dividends; Service Revenue: Salaries Expense; Rent Expense; and Utilities Expense. Explanations are not required. 2. The following four-column accounts have been opened: Cash, 101Accounts Receivable, 111; Office SI oplies, 121, Prepaid Insurance, 131: Land, 141; Building, 151; Furniture, 161; Accounts Payable, 201: Utilities Payable, 211; Notes Payable, 221; Common Stock,...
ACG 2021 Sec 654- Petty Homework: Homework CH2 Score: 0 of 20 pts P2-31A (similar to) 6 of 8 (4 complete) 2018 During the first month of operations, the business completed the following transaction Trey Madden opened a law office on January 1, Click the icon to view the transactions) Requirement 1. Record each transaction in the journal, using the following account tities Cash Accounts Receivable, Office Supplies, Prepai Jan. 1 Madden contributed $63000 cash to the business, Trey Madden....
Requirement 1. Record each transaction in the journal, using
the following account titles: Cash; Accounts Receivable; Office
Supplies; Prepaid Insurance; Land; Building; Furniture; Accounts
Payable; Utilities Payable; Notes Payable; Common Stock;
Dividends; Service Revenue; Salaries Expense; Rent Expense; and
Utilities Expense. Explanations are not required. (Record debits
first, then credits. Exclude explanations from journal
entries.)
Requirement 2. The following four-column accounts have been
opened: Cash, 101; Accounts Receivable, 111; Office Supplies,
121; Prepaid Insurance, 131; Land, 141; Building, 151;
Furniture,...
Date Account Debit Credit Jan 1 2013 $ 12,000 Prepaid Rent Cash (To record payment of insurance) $ 12,000 Jan 4 2013 $ 1.900 Cash Service Revenue (To record service revenue) $ 1,900 Jan 9 2013 $ 850 Advertising Expense Cash (To record advertising expense payment) $ 850 Jan 10 2013 $ 75 Office Supplies Expense Cash To record purchase of office supplies) $ 75 $ 2,725 Jan 14 2013 Cash Service Revenue (To record service revenue) $ 2.725 Jan...
% P2-31A (similar to) Tony Monson opened a law office on January 1, 2018. During the first month of operations, the business completed the following transactions: Click the icon to view the transactions.) Read the requirements Requirement 3. Prepare the trial balance of Tony Monson, Attorney, at January 31, 2018 Review the ledger accounts for the month of January Tony Monson, Attorney Trial Balance January 31, 2018 Balance Account Title Debit Credit Cash Common Stock 79,000 Office Supplies 1.300 Furniture...
Normal Balance Debit Number Name 1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supplies 1211 Office Equip. 1212 Accum. Depr.-Office Equip. 1311 Computer Equip. 1312 Accum. Depr.-Computer Equip. 1411 Building Cost 1412 Accum. Depr. -Building Debit Debit Debit Debit Debit Credit Debit Credit Debit Credit Debit Credit Credit 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103 Interest Payable 2105 Salaries Payable 2106 Income Taxes Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Capital Stock...
Learning Objectives 3, 4 P2-31A Journalizing transactions, posting journal entries to four-column accounts, and preparing a trial balance Terrence Murphy opened a law office on January 1, 2018. During the first month of operations, the business completed the following transactions: 3. Cash Balance $50, 160 CHAPTER 2 Jan. 1 Murphy contributed $78,000 cash to the business, Terrence Murphy Attorney. The business gave capital to Murphy. 3 Purchased office supplies, $600, and furniture, $1,700, on account. Performed legal services for a...
Journal Cash Acet. relevable PP Insurance PP rent Date Trellalance DR Credit OR DR Accounts Office Equipment Owners Eculty De bit 26,000 CR 106.000 Accredevable PP insurance PP rent Ottice supples Office equipment Aco, payabic Owner contribution Withdrawals Revenue UHHes 28,000 H0,000 106,000 Office supplies AccL PAVADIA Owner contribution Omice equipment DR CR 28,000 106,000 4/13 T accounts: 4:19 4:22 $ 105,000 S 106,00n 28,000 106,000 4:25 Transçctions: 4178 Withdrawals CR Revenue CR Utilities O neCR R DR April 1...
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