Homework Answers
Cash A/c Dr 10,000
To Dave A/c 5,000
To Sue A/c 5,000
( Being amount credited to Partner's capital account)
It was on the assumption that Dave and Sue are equal partners.
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how would I journal this tab cops lo shift June Transactions/Activities Reminder of monthly tasks! 6/1 Dave and Sue i...
Q2. Prepare journal entries to record the following transactions in Ela Company's books: 2008 June 1...
Q2. Prepare journal entries to record the following transactions in Ela Company's books: 2008 June 1 Received a $20,000, 12%, 1-year note from Sue as full payment on her account. Dec. 31 Accrued interest on Sue's note. 2009 June 1 Sue honored her promissory note. Q.3 Robi Company often requires customers to sign promissory notes for major credit purchases. Journalize the following transactions for Robi Company. Feb. 12 Robi sells merchandise on account to Jim accepting a $25,000, 6%, 60-day...
Problem 1-13AB Describing business activities LO C5 A start-up company often engages in the following transactions...
Problem 1-13AB Describing business activities LO C5 A start-up company often engages in the following transactions during its first year of operations. Classify those transactions in one of the three major categories of an organization's business activities. Business Activities Transactions 1. Selling and distributing products. 2. Purchasing a building. 3. Supervising workers. 4. Borrowing cash from a bank. 5. Paying employee wages. 6. Rent cost of office space. 7. Providing client services. 8. Purchasing land. Required information Use the following...
I need help with these problems. Please help me. Thank you. General Journal tab - Prepare...
I need help with these problems. Please help me. Thank you.
General Journal tab - Prepare journal entries to record the transactions and adjustments listed in (a)-(). Review the accounts as shown in the General Ledger and Trial Balance tabs. General Ledger tab - Each journal entry is posted automatically to the general ledger. Trial Balance tab - You may view the trial balance. Income Statement tab - Use the drop-down to select the accounts properly included on the income...
Exercise 4-7 (Static) Write Journal entries LO 6 The transactions relating to the formation of Blue...
Exercise 4-7 (Static) Write Journal entries LO 6 The transactions relating to the formation of Blue Co. Stores Inc., and its first month of operations follow, a. The firm was organized and the stockholders invested cash of $16,000. b. The firm borrowed $10,000 from the bank: a short-term note was signed. c. Display cases and other store equipment costing $3.500 were purchased for cash. The original list price of the equipment was $3,800, but a discount was received because the...
record journal entries using the accounts for these transactions Week-1 Basic Journal Entries Mason Yachts, a...
record journal entries using the accounts for these
transactions
Week-1 Basic Journal Entries Mason Yachts, a boat manufacturing company, begins business on 1/1/2017. Mason specializes in selling and repairing yachts. A listing of all of Mason trial balance accounts can be found in "trial balance tab below. For the transactions below, please record the necessary journal entries in the Journal Entries tab and update the balances in the trial balance. I have provided a "T-Account tab for each individual trial...
ournalize transactions, post, and prepare a trial balance. (LO 1, 2, 3, 4) Maquoketa Services was...
ournalize transactions, post, and prepare a trial balance. (LO 1, 2, 3, 4) Maquoketa Services was formed on May 1, 2017. The following transactions took place during the first month. Transactions on May 1: 1.Jay Bradford invested $40,000 cash in the company, as its sole owner. 2.Hired two employees to work in the warehouse. They will each be paid a salary of $3,050 per month. 3.Signed a 2-year rental agreement on a warehouse; paid $24,000 cash in advance for the...
E4-19 Analyzing, Recording, and Summarizing Business Activities and Adjustments [LO 4-1, LO 4.2, LO 4-6] The...
E4-19 Analyzing, Recording, and Summarizing Business Activities and Adjustments [LO 4-1, LO 4.2, LO 4-6] The following transactions relate to a magazine company called My Style Mag (MSM). Required: You will use your understanding of the relationships among (1) business activities, (2) accounting equation effects. (3) Journal entries. and (4) T-accounts to complete a four-part table out of which one part is already calculated. Items (a-i are independent of one another. Complete this question by entering your answers in the...
I'm having issues filling out the journal entries, and I am not sure on how to...
I'm having issues filling out the journal entries, and I am not
sure on how to calculate the balance, the second one is an example
you don't have to answer, but how would I go about filling it
out?
Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 1 2 3 10 Invested $18,000 cash in her business. Hired a secretary-receptionist at a salary of...
I would to know how to write these transaction into the journal The transaction will be...
I would to know how to write these transaction into the
journal
The transaction will be show below as pictures
The journal template will be shown below as a screeshot:
Snip & Sketch New 2 5 Problem 2-2A Preparing General Journal entries LO3,5,6 Bruce Ibach owns Biotech Fitness Centre, which showed the following selected transactions for the month ended May 31, 2021 May 2 1 Purchased new equipment, paying cash of $14,000 and signing a 90-clay note payable for the...
thank you C9-1 Accounting for Operating Activities (Including Depreciation) and Preparing Financial Statements (Chapters 3, 4,...
thank you
C9-1 Accounting for Operating Activities (Including Depreciation) and Preparing Financial Statements (Chapters 3, 4, 8, and 9) [LO 3-3, 4-2, 8-2 9-2, 9-3] Grid Iron Prep Inc. (GIPI) is a service business incorporated in January of the current year to provide personal training for athletes aspiring to play college football. The following transactions occurred during the month ended January 31. a. GIPI issued stock in exchange for $160,000 cash on 1/01 b. GIPI purchased a gymnasium building and...
Q2. Prepare journal entries to record the following transactions in Ela Company's books: 2008 June 1 Received a $20,000, 12%, 1-year note from Sue as full payment on her account. Dec. 31 Accrued interest on Sue's note. 2009 June 1 Sue honored her promissory note. Q.3 Robi Company often requires customers to sign promissory notes for major credit purchases. Journalize the following transactions for Robi Company. Feb. 12 Robi sells merchandise on account to Jim accepting a $25,000, 6%, 60-day...
Problem 1-13AB Describing business activities LO C5 A start-up company often engages in the following transactions during its first year of operations. Classify those transactions in one of the three major categories of an organization's business activities. Business Activities Transactions 1. Selling and distributing products. 2. Purchasing a building. 3. Supervising workers. 4. Borrowing cash from a bank. 5. Paying employee wages. 6. Rent cost of office space. 7. Providing client services. 8. Purchasing land. Required information Use the following...
I need help with these problems. Please help me. Thank you.
General Journal tab - Prepare journal entries to record the transactions and adjustments listed in (a)-(). Review the accounts as shown in the General Ledger and Trial Balance tabs. General Ledger tab - Each journal entry is posted automatically to the general ledger. Trial Balance tab - You may view the trial balance. Income Statement tab - Use the drop-down to select the accounts properly included on the income...
Exercise 4-7 (Static) Write Journal entries LO 6 The transactions relating to the formation of Blue Co. Stores Inc., and its first month of operations follow, a. The firm was organized and the stockholders invested cash of $16,000. b. The firm borrowed $10,000 from the bank: a short-term note was signed. c. Display cases and other store equipment costing $3.500 were purchased for cash. The original list price of the equipment was $3,800, but a discount was received because the...
record journal entries using the accounts for these
transactions
Week-1 Basic Journal Entries Mason Yachts, a boat manufacturing company, begins business on 1/1/2017. Mason specializes in selling and repairing yachts. A listing of all of Mason trial balance accounts can be found in "trial balance tab below. For the transactions below, please record the necessary journal entries in the Journal Entries tab and update the balances in the trial balance. I have provided a "T-Account tab for each individual trial...
E4-19 Analyzing, Recording, and Summarizing Business Activities and Adjustments [LO 4-1, LO 4.2, LO 4-6] The following transactions relate to a magazine company called My Style Mag (MSM). Required: You will use your understanding of the relationships among (1) business activities, (2) accounting equation effects. (3) Journal entries. and (4) T-accounts to complete a four-part table out of which one part is already calculated. Items (a-i are independent of one another. Complete this question by entering your answers in the...
I'm having issues filling out the journal entries, and I am not
sure on how to calculate the balance, the second one is an example
you don't have to answer, but how would I go about filling it
out?
Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 1 2 3 10 Invested $18,000 cash in her business. Hired a secretary-receptionist at a salary of...
I would to know how to write these transaction into the
journal
The transaction will be show below as pictures
The journal template will be shown below as a screeshot:
Snip & Sketch New 2 5 Problem 2-2A Preparing General Journal entries LO3,5,6 Bruce Ibach owns Biotech Fitness Centre, which showed the following selected transactions for the month ended May 31, 2021 May 2 1 Purchased new equipment, paying cash of $14,000 and signing a 90-clay note payable for the...
thank you
C9-1 Accounting for Operating Activities (Including Depreciation) and Preparing Financial Statements (Chapters 3, 4, 8, and 9) [LO 3-3, 4-2, 8-2 9-2, 9-3] Grid Iron Prep Inc. (GIPI) is a service business incorporated in January of the current year to provide personal training for athletes aspiring to play college football. The following transactions occurred during the month ended January 31. a. GIPI issued stock in exchange for $160,000 cash on 1/01 b. GIPI purchased a gymnasium building and...
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