KC Inc. began operations on May 1, 2018. The transactions for the first month in business...
D Н 1. EXCEL Assignment Number 1 KC Inc. began operations on May 1, 2018. The transactions for the first month in business are shown below: Chart of accounts The following transaction occurred in May (1) On May 1 our company issued shares common stock exchange for cash. The cash received totaled : $ Tab Color Assets: Red Use this worksheet to create a general journal to record transactions, adjusting and closing entries 250.000 Cash 101 Par value for common...
Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows (the amounts are rounded to thousands of dollars to simplify): Account Titles Debit Credit Cash $ 3 Accounts Receivable 5 Supplies 12 Land 0 Equipment 58 Accumulated Depreciation $ 6 Software 16 Accumulated Amortization 7 Accounts Payable 5 Notes Payable (short-term) 0 Salaries and Wages...
Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows (the amounts are rounded to thousands of dollars to simplify): Account Titles Debit Credit Cash $ 3 Accounts Receivable 5 Supplies 12 Land 0 Equipment 58 Accumulated Depreciation $ 6 Software 16 Accumulated Amortization 7 Accounts Payable 5 Notes Payable (short-term) 0 Salaries and Wages...
Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2018. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this chapter. During May, Kelly Consulting entered into the following transactions: May 3 Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500. 5 Received cash from clients on account, $2,450. 9 13 15 Paid cash for a newspaper advertisement, $225. Paid Office Station...
MJH repair services engaged in the following transactions: May 1 Began business by issuing common stock for cash, $10,000. 1 Paid this month’s rent, $850 1Paid the premium on a one year insurance policy, $960 2 Purchased $8400 of repair equipment with $1200 in cash and $7200 on account 5 Purchased repair supplies on credit, $936 8 Paid cash for an advertisement, $120 15 Received $800 in repair revenue 21 Paid accounts payable $450 31 Received cash revenue, $1950 31...
Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2018. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this chapter. During May, Kelly Consulting entered into the following transactions: May 3 Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500. 5 Received cash from clients on account, $2,450. 9 13 15 Paid cash for a newspaper advertisement, $225. Paid Office Station...
CV 4.1 Chapter 4 Canvas Homework Firefly, Inc began operations in January 2018. Below is the Adjusted Trial Balance as of December 31, 2018. This trial balance is scrambled, with the accounts in random order, but all debits and credits are correct. Complete the following: 1) For each account, label which financial statement it will appear (Income Statement, Balance Sheet, or Statement of Retained Earnings). Additionally, if it is an Income Statement account, label it as a Revenue or Expense....
Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2018. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this chapter. During May, Kelly Consulting entered into the following transactions: May 3 Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500. 5 Received cash from clients on account, $2,450. 9 Paid cash for a newspaper advertisement, $225. 13 Paid Office Station Co....
ou need to complete the accounting cycle for Jordan Company for the month of December 31, 2018. 1. Prepare the general journal entries to record these transactions using the accounts below. Dec. 1 Jordan invests$45,000 cash along with office equipment valued at $9,000 in the company in exchange for common stock. Dec. 2 The company purchased$1600 office supplies on credit. Dec. 6 The company completed a job and received $8,800 cash. Dec. 15 The company prepaid Dec. 18 The company...
Assume it is Monday, May 1, the first business day of the month, and you have just been hired as the accountant for Colo Company which operates with monthly accounting periods. All of the company's accounting work is completed through the end of April, and its ledgers show April 30 balances. During your first month on the job, the company experiences the following transactions and events (terms for all its credit sales are 2/10, n/30 unless stated differentlys: May. 1...