Homework Answers
Question - 5
The Correct answer choice is “Debit to cash and a credit to accounts receivable for $350”
While receiving the payment on an account from the Debtors, the Debit should be given to the cash for the amount received and the corresponding credit should be given to the Accounts Receivables.
The Journal Entry for this transaction are as follows
|
Accounts Tittles and explanations |
Debit |
Credit |
|
Cash A/c |
xxxx |
|
|
To Accounts Receivables A/c |
xxxx |
|
Question – 6
The Correct answer choice is “Purchased Equipment, Paid cash for $2,000, with the reminder to be paid in future”
Here, the Equipment $6,700 was purchased and the immediate cash payment $2,000 is made and the balance amount to be paid in the future through notes payables amounting to $4,700.
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Question 5 (1 point) Receiving a $350 payment on an account with a current balance of...
Problem 3-5A On November 1, 2019, the account balances of Schilling Equipment Repair were as follows....
Problem 3-5A On November 1, 2019, the account balances of Schilling Equipment Repair were as follows. Debits No. No. Credits Accumulated $ 2,400 154 Depreciation- Equipment $ 2,000 101 Cash Accounts Receivable Accounts Payable 112 4,250 201 2,600 Unearned Service 126 Supplies 1,800 209 1,200 Revenue Salaries and Wages Payable 153 Equipment 12,000 212 700 311 Common Stock 10,000 3,950 Retained Earnings 320 $20,450 $20,450 During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due...
Question 1 3.5 pts On May 17, Buckeye Corporation performed $800 of services for Betty DeRose,...
Question 1 3.5 pts On May 17, Buckeye Corporation performed $800 of services for Betty DeRose, a customer. Betty paid for one-half of the bill on May 17 and agreed to pay the remainder within 30 days. On June 9, Betty paid the remaining amount owed Which of the following journal entries would Buckeye Corporation make on June 9? debit accounts receivable $400 and credit cash $400 debit cash $400 and credit service revenue $400 debit accounts payable $400 and...
Problem 3-05A a 9 (Part Level Submission) On November 1, 2020, the account balances of Oriole...
Problem 3-05A a 9 (Part Level Submission) On November 1, 2020, the account balances of Oriole Equipment Repair were as follows. No. Debits No. Credits 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment $ 2,390 4,300 1,800 11,220 154 201 209 212 301 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Owner's Capital $ 1,870 2,560 1,170 710 13,400 $19,710 $19,710 During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due...
Question 2 On November 1, 2022, the following were the account balances of Carla Vista Equipment...
Question 2 On November 1, 2022, the following were the account balances of Carla Vista Equipment Repair. Cash Debit $ 3,520 3,090 1,850 10,730 Credit $ 500 3,030 Accounts Receivable Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable 400 Supplies Equipment 800 Common Stock Retained Earnings 10,730 3,730 $19,190 $19,190 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 Paid $1,220 for salaries due employees, of which $420 is for November and...
Hilton Service Center Trial Balance March 31, 2018 Account Title Balance Debit Credit 22,700 4,700 $...
Hilton Service Center Trial Balance March 31, 2018 Account Title Balance Debit Credit 22,700 4,700 $ 2,600 Cash Accounts Receivable Office Supplies Land Accounts Payable Utilities Payable Unearned Revenue Notes Payable Common Stock Dividends Service Revenue Salaries Expense Rent Expense Interest Expense Utilities Expense 11,700 17,000 1,600 1,900 400 21 200 21200 Print Done AL in More Info 2 Borrowed $46,000 from the bank and signed a note payable in the name of the business. 4 Paid cash of $50,000...
On November 1, 2022, the account balances of Marigold Corp. were as follows. No. No. 101...
On November 1, 2022, the account balances of Marigold Corp. were as follows. No. No. 101 154 Debits Cash Accounts Receivable Supplies Equipment $1,680 2.184 112 126 201 $ 2,016 3,570 1,512 10,080 209 Credits Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 153 212 311 1,008 588 8,400 3,318 $17,178 320 $17,178 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 20 22 Paid $1,428 for salaries...
On August 1, 2018, the beginning of its current fiscal year, the following opening account balances,...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were
completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
dates WP Discussions --/5 Conferences Question 5 View Policies Current Attempt in Progress Collaborations Account WileyPLUS...
dates WP Discussions --/5 Conferences Question 5 View Policies Current Attempt in Progress Collaborations Account WileyPLUS Support In the first month of business, Jakmak Interior Design Company had the following transactions: Dashboard Courses Calendar dobo Mar. 5 The owner, Jackie Mackenzie, invested $10,940 cash in the business. 7 Paid $385 cash for advertising the launch of the business. 9 Purchased supplies on account for $1,160. 11 Purchased a used car for $9,270 cash, for use in the business. 13 Billed...
On August 1, 2018, the beginning of its current fiscal year, the following opening account balances,...
On August 1, 2018, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Tobique Ltd. Accounts payable $2,500 Interest receivable 20 Accounts receivable 4,740 Note receivable, due October 31, 2018 4,000 Accumulated depreciation—equipment 2,030 Retained earnings 6,040 Cash 5,520 Salaries payable 1,460 Common shares 12,000 Supplies 1,030 Equipment 10,100 Unearned revenue 1,380 During August, the following summary transactions were completed. Aug. 1 Paid $440 cash for advertising in local newspapers....
No. Debits 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment $ 2,400 4,250 1,800 12,000...
No. Debits 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment $ 2,400 4,250 1,800 12,000 No. Credits 154 Accumulated Depreciation-Equipment 201 Accounts Payable 209 Unearned Service Revenue 212 Salaries and Wages Payable 311 Common Stock 320 Retained Earnings $ 2,000 2,600 1,200 700 10,000 3,950 $20,450 $20,450 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 20 22 25 27 29 Paid $1,700 for salaries due employees, of which $700 is for October salaries....
Problem 3-5A On November 1, 2019, the account balances of Schilling Equipment Repair were as follows. Debits No. No. Credits Accumulated $ 2,400 154 Depreciation- Equipment $ 2,000 101 Cash Accounts Receivable Accounts Payable 112 4,250 201 2,600 Unearned Service 126 Supplies 1,800 209 1,200 Revenue Salaries and Wages Payable 153 Equipment 12,000 212 700 311 Common Stock 10,000 3,950 Retained Earnings 320 $20,450 $20,450 During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due...
Question 1 3.5 pts On May 17, Buckeye Corporation performed $800 of services for Betty DeRose, a customer. Betty paid for one-half of the bill on May 17 and agreed to pay the remainder within 30 days. On June 9, Betty paid the remaining amount owed Which of the following journal entries would Buckeye Corporation make on June 9? debit accounts receivable $400 and credit cash $400 debit cash $400 and credit service revenue $400 debit accounts payable $400 and...
Problem 3-05A a 9 (Part Level Submission) On November 1, 2020, the account balances of Oriole Equipment Repair were as follows. No. Debits No. Credits 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment $ 2,390 4,300 1,800 11,220 154 201 209 212 301 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Owner's Capital $ 1,870 2,560 1,170 710 13,400 $19,710 $19,710 During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due...
Question 2 On November 1, 2022, the following were the account balances of Carla Vista Equipment Repair. Cash Debit $ 3,520 3,090 1,850 10,730 Credit $ 500 3,030 Accounts Receivable Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable 400 Supplies Equipment 800 Common Stock Retained Earnings 10,730 3,730 $19,190 $19,190 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 Paid $1,220 for salaries due employees, of which $420 is for November and...
Hilton Service Center Trial Balance March 31, 2018 Account Title Balance Debit Credit 22,700 4,700 $ 2,600 Cash Accounts Receivable Office Supplies Land Accounts Payable Utilities Payable Unearned Revenue Notes Payable Common Stock Dividends Service Revenue Salaries Expense Rent Expense Interest Expense Utilities Expense 11,700 17,000 1,600 1,900 400 21 200 21200 Print Done AL in More Info 2 Borrowed $46,000 from the bank and signed a note payable in the name of the business. 4 Paid cash of $50,000...
On November 1, 2022, the account balances of Marigold Corp. were as follows. No. No. 101 154 Debits Cash Accounts Receivable Supplies Equipment $1,680 2.184 112 126 201 $ 2,016 3,570 1,512 10,080 209 Credits Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 153 212 311 1,008 588 8,400 3,318 $17,178 320 $17,178 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 20 22 Paid $1,428 for salaries...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were
completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
dates WP Discussions --/5 Conferences Question 5 View Policies Current Attempt in Progress Collaborations Account WileyPLUS Support In the first month of business, Jakmak Interior Design Company had the following transactions: Dashboard Courses Calendar dobo Mar. 5 The owner, Jackie Mackenzie, invested $10,940 cash in the business. 7 Paid $385 cash for advertising the launch of the business. 9 Purchased supplies on account for $1,160. 11 Purchased a used car for $9,270 cash, for use in the business. 13 Billed...
No. Debits 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment $ 2,400 4,250 1,800 12,000 No. Credits 154 Accumulated Depreciation-Equipment 201 Accounts Payable 209 Unearned Service Revenue 212 Salaries and Wages Payable 311 Common Stock 320 Retained Earnings $ 2,000 2,600 1,200 700 10,000 3,950 $20,450 $20,450 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 20 22 25 27 29 Paid $1,700 for salaries due employees, of which $700 is for October salaries....
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