Homework Answers
| Account debited | Account credited | |
| 1 | Cash | Owner's capital |
| 2 | Equipment | Accounts Payable |
| 3 | Rent expense | Cash |
| 12 | Accounts Receivable | Service revenue |
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Brief Exercise 2-02 Transactions for the Oleg Thorn Company for the month of June are presented...
Identify accounts to be debited and credited.Transactions for the Oleg Thorn Company for the month of...
Identify accounts to be debited and credited.Transactions for the Oleg Thorn Company for the month of June are presented below. Identify the accounts to be debited and credited for each transaction.June 1: Oleg Thorn invests $5,000 cash in a small welding business of which he is the sole proprietor.June 2: Purchases equipment on account for $3,600.June 3: $800 cash is paid to landlord for June rent.June 12: Sends a bill to K. Johnsen for $400 after completing welding work done...
Question 16 of 18 -76 View Policies Current Attempt in Progress Transactions for the Oleg Thorn...
Question 16 of 18 -76 View Policies Current Attempt in Progress Transactions for the Oleg Thorn Company for the month of June are presented below. June 1 2 3 12 Oleg Thorn invests $4.500 cash in a small welding business of which he is the sole proprietor Purchases equipment on account for $3.100. 5830 cash is paid to landlord for June rent Sends a bill to Johnsen for $300 after completing welding work done on account Journalize the transactions. (Credit...
For each of the following accounts, indicate the effects of a debit and a credit on...
For each of the following accounts, indicate the effects of a debit and a credit on the accounts and the normal balance of the account. Debit Effect Credit Effect Normal Balance 1. Accounts Payable 2. Advertising Expense 3. Service Revenue 4. Accounts Receivable 5. Owner's Capital 6. Owner's Drawings Click If you would like to Show Work for this question: Open Show Work June 1 Transactions for the Oleg Thorn Company for the month of June are presented below. Oleg...
Transactions for the Sheldon Cooper Company, which provides welding services, for the month of June are...
Transactions for the Sheldon Cooper Company, which provides welding services, for the month of June are presented below. Sheldon Cooper invests $4,000 cash in exchange for shares of common stock in a small welding business. Purchases equipment on account for $1.200. 3 $800 cash is paid to landlord for June rent. Bills P. Leonard $300 after completing welding work done on account June 1 2 12 Identify the accounts to be debited and credited for each transaction. Account Debited Account...
i need help with BE2-3 6. Owner's Drawings. BEZ-2 Transactions for the Tage Oslo Company for...
i need help with BE2-3
6. Owner's Drawings. BEZ-2 Transactions for the Tage Oslo Company for the month of June are presented below. Identify the accounts to be debited and credited for each transaction. June 1 Tage Oslo invests $5,000 cash in a small welding business of which he is the sole proprietor. 2 Purchases equipment on account for $2,400. 3 $800 cash is paid to landlord for June rent. 12 Sends a bill to J. Kronsnoble for $300 for...
IMET 2-3 Using the data in IMET2-2, journalize the transactions. (You may omit explanations.) IMET 2-2...
IMET 2-3 Using the data in IMET2-2, journalize the transactions. (You may omit explanations.) IMET 2-2 Transactions for the George Lynch Company for the month of June are presented below. Identy accounts to be debited and credited for each transaction. June 1 George Lynch invests $5,000 cash in a small weldine business of which he is the sole proprieto June 2 Purchases equipment on account for $2,100. June 3 $800 cash is paid to landlord for June rent. June 12...
Brief Exercise 2-03 Transactions for the Marigold Company, which provides welding services, for the month of...
Brief Exercise 2-03 Transactions for the Marigold Company, which provides welding services, for the month of June are presented below. June 1 Marigold invests $4,900 cash in exchange for shares of common stock in a small welding business. 2 Purchases equipment on account for $1,460. 3 $770 cash is paid to landlord for June rent. 12 Bills P. Leonard $360 after completing welding work done on account. Journalize the transactions. (Credit account titles are automatically indented when the amount is...
Transactions for Sheridan Company for the month of June are presented below. June 1 Issues common...
Transactions for Sheridan Company for the month of June are presented below. June 1 Issues common stock to investors in exchange for $5,890 cash 2 Buys equipment on account for $1.240. 3 Pays $670 to landlord for June rent. 12 Sends Wil Wheaton a bill for $880 after completing welding work Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is...
accounting Updates Question 3 View Policies Current Attempt in Progress Tons nces Transactions for Jayne Company...
accounting Updates Question 3 View Policies Current Attempt in Progress Tons nces Transactions for Jayne Company for the month of June are presented below. ations US Support June 1 Issues common stock to investors in exchange for $5,000 cash. 2 Buys equipment on account for $1,100. 3 Pays $740 to landlord for June rent. 12 Sends Wil Wheaton a bill for $700 after completing welding work Identify the accounts to be debited and credited for each transaction. Account Debited Account...
#1 #2 View Policies Current Attempt in Progress During 2022, Blossom Company entered into the following...
#1
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View Policies Current Attempt in Progress During 2022, Blossom Company entered into the following transactions. 1. 2. Purchased equipment for $323,340 cash. Issued common stock to investors for $139,300 cash. Purchased inventory of $71,720 on account. 3. Using the following tabular analysis, show the effect of each transaction on the accounting equation. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the...
Question 16 of 18 -76 View Policies Current Attempt in Progress Transactions for the Oleg Thorn Company for the month of June are presented below. June 1 2 3 12 Oleg Thorn invests $4.500 cash in a small welding business of which he is the sole proprietor Purchases equipment on account for $3.100. 5830 cash is paid to landlord for June rent Sends a bill to Johnsen for $300 after completing welding work done on account Journalize the transactions. (Credit...
For each of the following accounts, indicate the effects of a debit and a credit on the accounts and the normal balance of the account. Debit Effect Credit Effect Normal Balance 1. Accounts Payable 2. Advertising Expense 3. Service Revenue 4. Accounts Receivable 5. Owner's Capital 6. Owner's Drawings Click If you would like to Show Work for this question: Open Show Work June 1 Transactions for the Oleg Thorn Company for the month of June are presented below. Oleg...
Transactions for the Sheldon Cooper Company, which provides welding services, for the month of June are presented below. Sheldon Cooper invests $4,000 cash in exchange for shares of common stock in a small welding business. Purchases equipment on account for $1.200. 3 $800 cash is paid to landlord for June rent. Bills P. Leonard $300 after completing welding work done on account June 1 2 12 Identify the accounts to be debited and credited for each transaction. Account Debited Account...
i need help with BE2-3
6. Owner's Drawings. BEZ-2 Transactions for the Tage Oslo Company for the month of June are presented below. Identify the accounts to be debited and credited for each transaction. June 1 Tage Oslo invests $5,000 cash in a small welding business of which he is the sole proprietor. 2 Purchases equipment on account for $2,400. 3 $800 cash is paid to landlord for June rent. 12 Sends a bill to J. Kronsnoble for $300 for...
IMET 2-3 Using the data in IMET2-2, journalize the transactions. (You may omit explanations.) IMET 2-2 Transactions for the George Lynch Company for the month of June are presented below. Identy accounts to be debited and credited for each transaction. June 1 George Lynch invests $5,000 cash in a small weldine business of which he is the sole proprieto June 2 Purchases equipment on account for $2,100. June 3 $800 cash is paid to landlord for June rent. June 12...
Brief Exercise 2-03 Transactions for the Marigold Company, which provides welding services, for the month of June are presented below. June 1 Marigold invests $4,900 cash in exchange for shares of common stock in a small welding business. 2 Purchases equipment on account for $1,460. 3 $770 cash is paid to landlord for June rent. 12 Bills P. Leonard $360 after completing welding work done on account. Journalize the transactions. (Credit account titles are automatically indented when the amount is...
Transactions for Sheridan Company for the month of June are presented below. June 1 Issues common stock to investors in exchange for $5,890 cash 2 Buys equipment on account for $1.240. 3 Pays $670 to landlord for June rent. 12 Sends Wil Wheaton a bill for $880 after completing welding work Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is...
accounting Updates Question 3 View Policies Current Attempt in Progress Tons nces Transactions for Jayne Company for the month of June are presented below. ations US Support June 1 Issues common stock to investors in exchange for $5,000 cash. 2 Buys equipment on account for $1,100. 3 Pays $740 to landlord for June rent. 12 Sends Wil Wheaton a bill for $700 after completing welding work Identify the accounts to be debited and credited for each transaction. Account Debited Account...
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#2
View Policies Current Attempt in Progress During 2022, Blossom Company entered into the following transactions. 1. 2. Purchased equipment for $323,340 cash. Issued common stock to investors for $139,300 cash. Purchased inventory of $71,720 on account. 3. Using the following tabular analysis, show the effect of each transaction on the accounting equation. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the...
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