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The following transactions occurred during the May of the current year, first month of operations for...
2. The following transactions of Maple Realtors were completed during May of the current year: May...
2. The following transactions of Maple Realtors were completed during May of the current year: May 1 Joe Maple created Maple Realtors by investing $15,000 cash. 2 Paid a total of $500 for office rent for May. 3 Purchased office supplies for $80 cash. 4 Purchased office equipment for $125 on account 5 Billed clients $2,000 for brokerage service rendered. 8 Collected amounts billed to clients in the amount of $1,500. 10 Took out an advertising costing $50 in a...
The following selected transactions were completed during august of the current year: 1. Billed customers for...
The following selected transactions were completed during august of the current year: 1. Billed customers for fees earned $73,900. 2. Purchased supplies on account, $1,960. 3. Received cash from customers on account, $62,770. 4. Paid creditors on account, $820. Journalize these transactions in a two -column journal.
P3.7A (LO 3, 4) During the first month of operations, the following transactions occurred for Virmani...
P3.7A (LO 3, 4) During the first month of operations, the following transactions occurred for Virmani Architects Inc.: Apr. 1 Invested cash of $10,000 and equipment of $6,000 in the company in exchange for common shares. 1 Hired a secretary-receptionist at a monthly salary of $1,900. 2 Paid office rent for the month, $950. 3 Purchased architectural supplies on account from Halo Ltd., $1,900. 10 Completed blueprints on a carport and billed client $1,200. 13 Received $800 cash advance from...
Transactions and T Accounts The following selected transactions were completed during August of the current year:...
Transactions and T Accounts The following selected transactions were completed during August of the current year: Billed customers for fees earned, $50,850. Purchased supplies on account, $2,190. Received cash from customers on account, $47,800. Paid creditors on account, $1,320. a. Journalize these transactions in a two-column journal, using the appropriate number to identify the transactions. (1) (2) (3) (4) Post the entries prepared in (a) to the following T accounts: Cash, Supplies, Accounts Receivable, Accounts Payable, Fees Earned. To the...
Transactions and T Accounts The following selected transactions were completed during July of the current year:...
Transactions and T Accounts
The following selected transactions were completed during July
of the current year:
Billed customers for fees earned, $42,500.
Purchased supplies on account, $1,830.
Received cash from customers on account, $39,950.
Paid creditors on account, $1,110.
a. Journalize these transactions in a two-column journal, using the appropriate number to identify the transactions. If an amount box does not require an entry, leave it blank. (1) (2) (3) (4) b. Post the entries prepared in (a) to the...
Transactions and T Accounts The following selected transactions were completed during August of the current year:...
Transactions and T Accounts The following selected transactions were completed during August of the current year: Billed customers for fees earned, $46,370. Purchased supplies on account, $1,990. Received cash from customers on account, $43,590. Paid creditors on account, $1,210. a. Journalize these transactions in a two-column journal, using the appropriate number to identify the transactions. If an amount box does not require an entry, leave it blank. (1) (2) (3) (4) b. Post the entries prepared in (a) to the...
I need help answering these questions: EX 2-7 Transactions OBJ. 2 Concrete Consulting Co. has the...
I need help answering these questions:
EX 2-7 Transactions OBJ. 2 Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Jason Payne, Capital; Jason Payne, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense. Journalize the following selected transactions for October 2019 in a two-column journal. Journal entry explanations may be omitted. Oct. 1. Paid rent for the month, $3,600. 3. Paid advertising expense, $1,200. 5. Paid cash for...
The following selected transactions were completed during August of the current year: Transactions Aug. 1 Billed...
The following selected transactions were completed during August of the current year: Transactions Aug. 1 Billed customers for fees earned, $74,050. 4 Purchased supplies on account, $1,970. 8 Received cash from customers on account, $62,770. 11 Paid creditors on account, $800. Required: A. Journalize these transactions in a two-column journal. Refer to the T-Accounts for exact wording of account titles. B. Post the entries prepared in (A) to the following T accounts: Cash, Supplies, Accounts Receivable, Accounts Payable, Fees Earned....
Transactions Simmons Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office...
Transactions Simmons Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Michael Short, Capital; Michael Short, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense. Journalize the following selected transactions for October 20Y3. If an amount box does not require an entry, leave it blank. Oct. 1. Paid rent for the month, $4,800. 3. Paid ádvertising expense, $2,500. 5. Pald cash for supplies, $1,390. 6. Purchased office equipment on account,...
Part II (40 Points) Section A---Business Transactions Journalize the following transactions in general journal format for...
Part II (40 Points) Section A---Business Transactions Journalize the following transactions in general journal format for the ASU Company for the month of September 2018. You may omit the date and explanation. Practice 1. Paid rent for the month, $1,500. 2. Purchased office equipment on account, $10,000. 3. Fees earned and billed to customers for the month, $15,000. 4. Paid cash for supplies, $500. 5. Received cash from customers on account, $9,000. 6. Withdrew cash for personal use, $1,000
2. The following transactions of Maple Realtors were completed during May of the current year: May 1 Joe Maple created Maple Realtors by investing $15,000 cash. 2 Paid a total of $500 for office rent for May. 3 Purchased office supplies for $80 cash. 4 Purchased office equipment for $125 on account 5 Billed clients $2,000 for brokerage service rendered. 8 Collected amounts billed to clients in the amount of $1,500. 10 Took out an advertising costing $50 in a...
P3.7A (LO 3, 4) During the first month of operations, the following transactions occurred for Virmani Architects Inc.: Apr. 1 Invested cash of $10,000 and equipment of $6,000 in the company in exchange for common shares. 1 Hired a secretary-receptionist at a monthly salary of $1,900. 2 Paid office rent for the month, $950. 3 Purchased architectural supplies on account from Halo Ltd., $1,900. 10 Completed blueprints on a carport and billed client $1,200. 13 Received $800 cash advance from...
Transactions and T Accounts
The following selected transactions were completed during July
of the current year:
Billed customers for fees earned, $42,500.
Purchased supplies on account, $1,830.
Received cash from customers on account, $39,950.
Paid creditors on account, $1,110.
a. Journalize these transactions in a two-column journal, using the appropriate number to identify the transactions. If an amount box does not require an entry, leave it blank. (1) (2) (3) (4) b. Post the entries prepared in (a) to the...
I need help answering these questions:
EX 2-7 Transactions OBJ. 2 Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Jason Payne, Capital; Jason Payne, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense. Journalize the following selected transactions for October 2019 in a two-column journal. Journal entry explanations may be omitted. Oct. 1. Paid rent for the month, $3,600. 3. Paid advertising expense, $1,200. 5. Paid cash for...
Transactions Simmons Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Michael Short, Capital; Michael Short, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense. Journalize the following selected transactions for October 20Y3. If an amount box does not require an entry, leave it blank. Oct. 1. Paid rent for the month, $4,800. 3. Paid ádvertising expense, $2,500. 5. Pald cash for supplies, $1,390. 6. Purchased office equipment on account,...
Part II (40 Points) Section A---Business Transactions Journalize the following transactions in general journal format for the ASU Company for the month of September 2018. You may omit the date and explanation. Practice 1. Paid rent for the month, $1,500. 2. Purchased office equipment on account, $10,000. 3. Fees earned and billed to customers for the month, $15,000. 4. Paid cash for supplies, $500. 5. Received cash from customers on account, $9,000. 6. Withdrew cash for personal use, $1,000
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