Homework Answers
When cash is withdrawn for personal use we make an entry by debiting the owners' withdrawl and crediting the cash, At the end of the year the drawings account is closed by debiting the capital account and crediting the withdrawl account. Therefore, correct entry on withdrawl of cash shall be
- M. MArtin, withdrawls 2000
- Cash 2000
- Answer is (A)
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Molly Martin, the owner of Smart Consulting, withdrew $2,000 cash from the company for personal use....
Question Completion Status: QUESTION 11 Matthew Martin, the owner of Innovation Consulting, started the business by...
Question Completion Status: QUESTION 11 Matthew Martin, the owner of Innovation Consulting, started the business by Investing $40,000 cash. Identify the general journal entry below that Innovation Consulting will make to record the transaction. Cash 40,000 M. Martin, Capital 40,000 Cash 40,000 Note Payable 40.000 M. Martin, Capital Cash 40.000 Investments M Martin, Capital 40.000 Accounts Receivable 400OO 40,000 Click Save and Submit to and submit Click Save A s to steal ons
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...
The owner, Marcus James, withdrew $6,400 from the business for personal use. Which of the following...
The owner, Marcus James, withdrew $6,400 from the business for personal use. Which of the following journal entries should be made? 6.400 O a Marcus James Capital Cash 6.400 O b. Marcus James, Drawing 6.400 6.400 6.400 6.400 OC. Marcus James, Drawing Fees Earned Od No entry is required
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....
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...
a. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market...
a. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value. b. The company paid $2,000 cash for rent of office space for the month. c. The company purchased $18,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected the $1,600 cash earned. e. The company completed work for a client and sent a bill for $7,300 to be received within 30...
Ko? OOO O O O... > The company prepaid $7,000 cash for six months' rent for...
Ko? OOO O O O... > The company prepaid $7,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $7,000.) Note: Enter debits before credits. Date General Journal Debit Credit Journal entry worksheet < 0 2 3 0 6 6 6 .... 12 The company made credit purchases of office equipment for $4,000 and office supplies for $2,000. Payment is due within 10 days. Note: Enter debits before credits. Date General Journal Debit Credit Journal entry...
Following are the transactions for Valdez Services. a. The company paid $2,000 cash for payment on...
Following are the transactions for Valdez Services.a. The company paid $2,000 cash for payment on a 6 -month-old account payable for office supplies.b. The company paid $1,200 cash for the just completed two-week salary of the receptionist.c. The company paid $39,000 cash for equipment purchased.d. The company paid $800 cash for this month's utilities.e. Owner (B. Valdez) withdrew $4,500 cash from the company for personal use.1. Prepare general journal entries for the above transactions of Valdez Services.
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...
a. Kacy Spade, owner, invested $17,500 cash in the company in exchange for common stock. b....
a. Kacy Spade, owner, invested $17,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $508 cash. c. The company purchased $9,678 of office equipment on credit. d. The company received $2,065 cash as fees for services provided to a customer. e. The company paid $9,678 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,710 as fees for services provided. g. The...
Question Completion Status: QUESTION 11 Matthew Martin, the owner of Innovation Consulting, started the business by Investing $40,000 cash. Identify the general journal entry below that Innovation Consulting will make to record the transaction. Cash 40,000 M. Martin, Capital 40,000 Cash 40,000 Note Payable 40.000 M. Martin, Capital Cash 40.000 Investments M Martin, Capital 40.000 Accounts Receivable 400OO 40,000 Click Save and Submit to and submit Click Save A s to steal ons
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...
The owner, Marcus James, withdrew $6,400 from the business for personal use. Which of the following journal entries should be made? 6.400 O a Marcus James Capital Cash 6.400 O b. Marcus James, Drawing 6.400 6.400 6.400 6.400 OC. Marcus James, Drawing Fees Earned Od No entry is required
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....
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...
a. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value. b. The company paid $2,000 cash for rent of office space for the month. c. The company purchased $18,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected the $1,600 cash earned. e. The company completed work for a client and sent a bill for $7,300 to be received within 30...
Ko? OOO O O O... > The company prepaid $7,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $7,000.) Note: Enter debits before credits. Date General Journal Debit Credit Journal entry worksheet < 0 2 3 0 6 6 6 .... 12 The company made credit purchases of office equipment for $4,000 and office supplies for $2,000. Payment is due within 10 days. Note: Enter debits before credits. Date General Journal Debit Credit Journal entry...
Following are the transactions for Valdez Services.a. The company paid $2,000 cash for payment on a 6 -month-old account payable for office supplies.b. The company paid $1,200 cash for the just completed two-week salary of the receptionist.c. The company paid $39,000 cash for equipment purchased.d. The company paid $800 cash for this month's utilities.e. Owner (B. Valdez) withdrew $4,500 cash from the company for personal use.1. Prepare general journal entries for the above transactions of Valdez Services.
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...
a. Kacy Spade, owner, invested $17,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $508 cash. c. The company purchased $9,678 of office equipment on credit. d. The company received $2,065 cash as fees for services provided to a customer. e. The company paid $9,678 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,710 as fees for services provided. g. The...
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