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Consider the following account starting balances and journal transactions involving these accounts. Use T-accounts to record...
Consider the following account starting balances and journal transactions involving these accounts. Use T-accounts to record...
Consider the following account starting balances and journal transactions involving these accounts. Use T-accounts to record the starting balances and organize the offsetting entries for the transactions. The starting balance of Cash is $14,700 The starting balance of Inventory is $3,800 The starting balance of Retained Earnings is $22,900 Date Accounts and Explanation Debit Credit Mar 9 Cash 35 Inventory 28 Retained Earnings 7 Sold and delivered product to customer Mar 10 Cash 20 Retained Earnings 20 Sold, delivered, and...
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the...
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions. The starting balance of Accounts Receivable is $3,200 The starting balance of Cash is $13,700 The starting balance of Inventory is $5,100 1. Buy $14 worth of manufacturing supplies for cash 2. Sell product for $35 in cash with historical cost of $35 3. Receive payment of $13 owed by a customer What is the...
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the...
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions. The starting balance of Cash is $14,100 The starting balance of Inventory is $4,900 The starting balance of Retained Earnings is $24,300 1. Sell, deliver, and receive payment of $20 for service 2. Consume good or service and pay expense of $3 3. Sell product for $25 in cash with historical cost of $20 What...
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the...
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions. The starting balance of Accounts Payable is $2,000 The starting balance of Cash is $13,700 The starting balance of Debt is $3,600 The starting balance of Inventory is $5,100 1. Borrow $55 from a bank 2. Pay $8 owed to a supplier 3. Buy $14 worth of manufacturing supplies on credit What is the final...
Consider the following account starting balances and journal transactions involving these accounts. Use T-accounts to record...
Consider the following account starting balances and journal transactions involving these accounts. Use T-accounts to record the starting balances and organize the offsetting entries for the transactions. The starting balance of Accounts Payable is $2,400 The starting balance of Cash is $12,500 The starting balance of Debt is $3,700 The starting balance of Inventory is $5,200 Date Accounts and Explanation Debit Credit Feb 10 Accounts Payable 4 Cash 4 Paid money owed to supplier Feb 11 Inventory 15 Accounts Payable...
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the...
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions. The starting balance of Accounts Receivable is $4,800 The starting balance of Cash is $14,700 The starting balance of Inventory is $3,800 1. Receive payment of $10 owed by a customer 2. Buy $16 worth of manufacturing supplies for cash 3. Sell product for $30 in cash with historical cost of $30 What is the...
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the...
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions. The starting balance of Accounts Payable is $1,900 The starting balance of Cash is $14,300 The starting balance of Debt is $3,200 The starting balance of Inventory is $5,800 1. Borrow $68 from a bank 2. Pay $5 owed to a supplier 3. Buy $16 worth of manufacturing supplies on credit What is the final...
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the...
Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions. The starting balance of Accounts Receivable is $3,200 The starting balance of Cash is $14,100 The starting balance of Inventory is $4,900 1. Buy $17 worth of manufacturing supplies for cash 2. Sell product for $25 in cash with historical cost of $25 3. Receive payment of $12 owed by a customer What is the...
JUI Yuu Below are account balances of Ducks Company at the end of September. Accounts Balances...
JUI Yuu Below are account balances of Ducks Company at the end of September. Accounts Balances Accounts Cash $20,500 Retained Earnings Accounts Receivable 13,100 Dividends Supplies 6,100 Service Revenue Prepaid Insurance 4,100 Salaries Expense Equipment 23,500 Insurance Expense Accounts Payable 6,100 Advertising Expense Salaries Payable 3,100 Supplies Expense Utilities Payable 1,100 Entertainment Expense Deferred Revenue 8,100 Utilities Expense Common Stock 24,500 Balances $12,100 3,100 ? 8,100 7,100 1,100 9,100 5,100 1,100 Required: Prepare a trial balance by placing amounts in...
On January 1, 2018, the general ledger of ACME Fireworks includes the following account balances: Accounts...
On January 1, 2018, the general ledger of ACME Fireworks includes the following account balances: Accounts Debit Credit Cash $ 28,000 Accounts Receivable 48,000 Inventory 20,900 Land 75,000 Equipment 19,500 Allowance for Uncollectible Accounts 5,100 Accumulated Depreciation 2,400 Accounts Payable 29,400 Notes Payable (6%, due April 1, 2019) 59,000 Warranty Liability 26,000 Common Stock 44,000 Retained Earnings 25,500 Totals $ 191,400 $ 191,400 During January 2018, the following transactions occur: January 2 Sold gift cards totaling $9,800. The cards are...
JUI Yuu Below are account balances of Ducks Company at the end of September. Accounts Balances Accounts Cash $20,500 Retained Earnings Accounts Receivable 13,100 Dividends Supplies 6,100 Service Revenue Prepaid Insurance 4,100 Salaries Expense Equipment 23,500 Insurance Expense Accounts Payable 6,100 Advertising Expense Salaries Payable 3,100 Supplies Expense Utilities Payable 1,100 Entertainment Expense Deferred Revenue 8,100 Utilities Expense Common Stock 24,500 Balances $12,100 3,100 ? 8,100 7,100 1,100 9,100 5,100 1,100 Required: Prepare a trial balance by placing amounts in...
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