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2. BEGAMAN Security Service provides ushers and security personnel for athletic events and other functions. Here is BEGAMAN’s financial position for October: Cash 26,600, AR 18,800, Supplies 1,120, Prepaid Insurance 1,200, Equipment 15,600, AP 10,600, Capital 42,320, Withdrawals 4,000, Revenue 56,000, Wage expense 32,000, Rent expense 6,400, Utility expense 3,200. During November, BEGAMAN engaged in the following transactions: 1. Received cash from customers billed last month, $8,400. 3. Made a payment on accounts payable, $6,200. 5. Purchased a new one-year insurance policy in advance, $7,200. 7. Purchased supplies on credit, $860. 8. Billed a client for security services, $4,400 10. Made a rent payment for November, $1,600. 11. Received cash from customers for security services, $3,200. 12. Paid wages to the security staff, $2,800. 14. Ordered equipment, $1,600. 15. Paid the current month's utility bill, $800. 17. Received and paid for the equipment ordered on November 14, $1,600. 19. Returned for full credit some of the supplies purchased on November 7because they were defective, $240. 20. Withdrew cash for personal expenses, $2,000. 21. Paid for the supplies purchased on November 7, less the return on November 19, $620. 23. Billed a customer for security services performed, $3,600. 30. Paid wages to the security staff, $2,100. Required: Record transactions into T-accounts and prepare TRIAL BALANCE in proper sequences. (Continue transactions from October
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Cash $ 3,250 Accumulated Depreciation—Equipment $ 500 Accounts Receivable 3,130 Accounts Payable 2,760 Supplies 1,580 Unearned...
Cash $ 3,250 Accumulated Depreciation—Equipment $ 500 Accounts Receivable 3,130 Accounts Payable 2,760 Supplies 1,580 Unearned Service Revenue 400 Equipment 10,460 Salaries and Wages Payable 840 Common Stock 10,460 Retained Earnings 3,460 During November, the following summary transactions were completed. Nov. 8 Paid $1,220 for salaries due employees, of which $380 is for November and $840 is for October salaries payable. 10 Received $1,840 cash from customers in payment of account. 12 Received $3,780 cash for services performed in November....
Debit Credit Cash Accounts Receivable Supplies Equipment $ 3,140 Accumulated Depreciation-Equipment $500 2,650 400 850 10,350...
Debit Credit Cash Accounts Receivable Supplies Equipment $ 3,140 Accumulated Depreciation-Equipment $500 2,650 400 850 10,350 3,350 $18,100 3 ,140Accounts Payable 1,470 Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 10,350 $18,100 During November, the following summary transactions were completed Nov. 8 Paid $1,220 for salaries due employees, of which $ 370 is for November and $ 850 is for October salaries payable. 10 12 15 17 20 22 25 27 29 Received $ 1,840 cash from...
On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts...
On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Credit $ 500 2,760 400 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 Paid $1,220 for salaries due employees, of which $430 is for November and $790 is for...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions...
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Whispering Winds Corp. provides security services. Selected transactions for Whispering Winds Corp
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Please help me with the final statements: Use the following information to demonstrate your understanding of...
Please help me with the final statements:
Use the following information to demonstrate your understanding of the accounting cycle. Consider all of the steps in the cycle and provide all entries/forms/reports/statements in the cycle. On November 1, 2022, IKonk, Inc. had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash Accumulated Depreciation- 9,000 Equipment 1,000 Accounts 2,240 Receivable Supplies 860 Accounts Payable 3,400 Equipment 25,000 Unearned Service Revenue 4,000 $37.100 Salaries and Wages Payable 1,700...
Answer instructions a-f Prepare the adjusting entries December 31, 2020. P3.5A (LO 2, 3, 4 an...
Answer instructions a-f
Prepare the adjusting entries December 31, 2020. P3.5A (LO 2, 3, 4 an ancial Statement on November 1, 2020, the account balances of Hamm Equipment Repair were as follows. No. No. 101 112 126 153 Cash Accounts Receivable Supplies Equipment Debit $ 2,400 4,250 1.800 12,000 154 201 209 212 301 Credit Accumulated Depreciation Equipment S2,000 Accounts Payable 2.600 Uncamned Service Revenue 1,200 Salaries and Wages Payable 700 Owner's Capital 13,950 $20.450 $20,450 During November, the following...
View Policies Current Attempt in Progress Blue Equipment Repair began operating in September 2017. It prepares...
View Policies Current Attempt in Progress Blue Equipment Repair began operating in September 2017. It prepares financial statements at the end of each month. On November 1, 2017, a tabular summary includes the following information. Note that Blue began the month with $3,640 in Retained Earnings. This balance represents the results of its first two months of business. Assets Stockholdi Liabilities Unearn. Serv. Rev. Acc. Depr.- Equip. = Accts. Rec. Com. Accts. Pay. Cash + Stock Sal./Wages Pay. 820 +...
Flint Equipment Repair Income Statement For the Month Ended November 30, 2022 Revenues Service Revenue $...
Flint Equipment Repair Income Statement For the Month Ended November 30, 2022 Revenues Service Revenue $ 6018 Expenses $ $ During November, the following summary transactions were completed. Nov. 8 Paid $1.432 for salaries due employees, of which $708 is for November and $724 is for October salaries payable. 10 Received $2,124 cash from customers in payment of account. 12 Received $4,366 cash for services performed in November 15 Purchased store equipment on account $4,248. Purchased supplies on account $1,534....
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr 1 Roulstone contributed $11.500 cash to the business in exchange for common stock. 2 Paid 56,100 cash for the purchase of a used truck. 2 Purchased 53.100 of ladders and other equipment the company paid $1.000 cash with the balance due in 30 days. 3 Paid $2,880 cash for two-year (or 24-month) premium toward liability insurance. 5 Purchased $1,200 of...
Debit Credit Cash Accounts Receivable Supplies Equipment $ 3,140 Accumulated Depreciation-Equipment $500 2,650 400 850 10,350 3,350 $18,100 3 ,140Accounts Payable 1,470 Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 10,350 $18,100 During November, the following summary transactions were completed Nov. 8 Paid $1,220 for salaries due employees, of which $ 370 is for November and $ 850 is for October salaries payable. 10 12 15 17 20 22 25 27 29 Received $ 1,840 cash from...
On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Credit $ 500 2,760 400 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 Paid $1,220 for salaries due employees, of which $430 is for November and $790 is for...
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr.1 Roulstone contributed $34,500 cash to the business in exchange for common stock. Paid $18,300 cash for the purchase of a used truck. Purchased $9,300 of ladders and other equipment; the company paid $1,000 cash, with the balance due in 30 days. Paid $8,640 cash for two-year (or 24-month) premium toward liability insurance. Purchased $3,600 of supplies on credit. Received an...
Please help me with the final statements:
Use the following information to demonstrate your understanding of the accounting cycle. Consider all of the steps in the cycle and provide all entries/forms/reports/statements in the cycle. On November 1, 2022, IKonk, Inc. had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash Accumulated Depreciation- 9,000 Equipment 1,000 Accounts 2,240 Receivable Supplies 860 Accounts Payable 3,400 Equipment 25,000 Unearned Service Revenue 4,000 $37.100 Salaries and Wages Payable 1,700...
Answer instructions a-f
Prepare the adjusting entries December 31, 2020. P3.5A (LO 2, 3, 4 an ancial Statement on November 1, 2020, the account balances of Hamm Equipment Repair were as follows. No. No. 101 112 126 153 Cash Accounts Receivable Supplies Equipment Debit $ 2,400 4,250 1.800 12,000 154 201 209 212 301 Credit Accumulated Depreciation Equipment S2,000 Accounts Payable 2.600 Uncamned Service Revenue 1,200 Salaries and Wages Payable 700 Owner's Capital 13,950 $20.450 $20,450 During November, the following...
View Policies Current Attempt in Progress Blue Equipment Repair began operating in September 2017. It prepares financial statements at the end of each month. On November 1, 2017, a tabular summary includes the following information. Note that Blue began the month with $3,640 in Retained Earnings. This balance represents the results of its first two months of business. Assets Stockholdi Liabilities Unearn. Serv. Rev. Acc. Depr.- Equip. = Accts. Rec. Com. Accts. Pay. Cash + Stock Sal./Wages Pay. 820 +...
Flint Equipment Repair Income Statement For the Month Ended November 30, 2022 Revenues Service Revenue $ 6018 Expenses $ $ During November, the following summary transactions were completed. Nov. 8 Paid $1.432 for salaries due employees, of which $708 is for November and $724 is for October salaries payable. 10 Received $2,124 cash from customers in payment of account. 12 Received $4,366 cash for services performed in November 15 Purchased store equipment on account $4,248. Purchased supplies on account $1,534....
Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr 1 Roulstone contributed $11.500 cash to the business in exchange for common stock. 2 Paid 56,100 cash for the purchase of a used truck. 2 Purchased 53.100 of ladders and other equipment the company paid $1.000 cash with the balance due in 30 days. 3 Paid $2,880 cash for two-year (or 24-month) premium toward liability insurance. 5 Purchased $1,200 of...
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