Homework Answers
| Date | Description | Debit | Credit |
| Jan 1 | Cash | $10,000 | |
| Owner's capital - Sam | $10,000 | ||
| (Being capital invested) | |||
| Jan 2 | Cash | $9,500 | |
| Service revenue | $9,500 | ||
| (Being cash received from services) | |||
| Jan 3 | Accounts receivable | $6,500 | |
| Service revenue | $6,500 | ||
| (Being services provided on account) | |||
| 4 | Rent expense | $600 | |
| Cash | $600 | ||
| (rent expense paid) | |||
| 5 | Cash | $2,500 | |
| Accounts receivable | $2,500 | ||
| (Being cash received on account) | |||
| 6 | Drawings | $1,000 | |
| Cash | $1,000 | ||
| (Being drawings made by Sam) | |||
| 7 | Accounts payable | $900 | |
| Cash | $900 | ||
| (Being accounts payable paid) | |||
| 8 | Telephone expense | $300 | |
| Cash | $300 | ||
| (Being telephone expense paid) |
Add Answer to:
QUESTION 2 Record the following selected transactions for October as journal entries for Sam Co.: Jan....
19. A. Journalize the following selected transactions for January. Explanations may be omitted. B. Fom accounts....
19. A. Journalize the following selected transactions for January. Explanations may be omitted. B. Fom accounts. CA Jan. 1 Received cash from the sale of common stock, S14,000. Received cash for providing accounting services, 59,500. Billed customers on account for providing services, S4,200. Paid advertising expense, $700. Received cash from customers on account, $2,500. Paid dividends, $1,010. Received telephone bill, $900. Paid telephone bill, 5900 Date Description Post. Debit Ref. Credit FANTO-
Prepare Journal entries Paid rent for two months in advance, $500 Purchase office supplies for $2...
Prepare Journal entries Paid rent for two months in advance, $500 Purchase office supplies for $200 and office equipment for $1,100 on account Billed a customer for fees earned, $2,000 Paid telephone bill, $150 Owner withdrew $475 from the business for personal use Received $600 for fees earned Paid salaries expense, $800
Transactions Instructions Chart of Accounts Journal Instructions Concrete Consulting Co. has the following accounts in its...
Transactions Instructions Chart of Accounts Journal Instructions Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Jason Payne, Capital; Jason Payne, Drawing; Foes Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense. Transactions Oct 1 3 10 Paid rent for the month, $2,800. Paid advertising expense, $500. Paid cash for supplies, $1,300. Purchased office equipment on account, $9,500. Received cash from customers on account, $15,500. Paid creditors on account, $3,180. Paid...
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,...
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...
Enter the following transactions in the T-accounts below. Use key letters to identify each transaction. Foot...
Enter the following transactions in the T-accounts below. Use key letters to identify each transaction. Foot and balance each T-account. Prepare a Trial Balance in good form. h Owner invests $20,000 cash and $300 of supplies in his new business, Happy Hunters. Recorded cash received for services rendered, $2,500. Billed customers for services rendered, $2,800. Received water bill, $240. Purchased supplies for $150 on account. Purchased equipment costing $900, paying $100 down and the remainder on account. Paid for an...
Exercise 2-02 Selected transactions for M. Acosta, an interior decorator, in her first month of business,...
Exercise 2-02 Selected transactions for M. Acosta, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $10,000 cash in business. 3. Purchased used car for $3,000 cash for use in business. 9 Purchased supplies on account for $600. 11 Billed customers $2,400 for services performed. 16 Paid $350 cash for advertising. 20 Received $900 cash from customers billed on January 11. 23 Paid creditor $300 cash on balance owed. 28 Withdrew $1,000 cash for...
Selected transactions for M. Sheffield, an interior decorator, in her first month of business, are as...
Selected transactions for M. Sheffield, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $14,100 cash in business. 3. Purchased used car for $4,230 cash for use in business 9 Purchased supplies on account for $705. 11 Billed customers $3,384 for services performed. Paid $494 cash for advertising. 20 Received $987 cash from customers billed on January 11. 23 Paid creditor $423 cash on balance owed. 28 Withdrew $1,410 cash for personal use by...
Question 1 Selected transactions for Pangy Box are listed below. Journalize the transactions 1. Jan 01...
Question 1 Selected transactions for Pangy Box are listed below. Journalize the transactions 1. Jan 01 - Paid monthly insurance bill of $200.00 2. Jan 02 - Purchased new computer with cash for $1,325.00 3. Jan 05 - Paid cash for shipping charges of $287 4. Jan 10 - Billed customers for boxes already sent for $300 5. Jan 15 - Received cash from customers billed in transaction 4. 6. Jan 25 - Dividends of $1,000 paid to owners. 7....
6. Schultz Tax Services, a tax preparation business had the following transactions during the month of...
6. Schultz Tax Services, a tax preparation business had the following transactions during the month of June: Example: Received cash the owner Schultz, $25,000. 1. Received cash for providing accounting services, $3,000. 2. Billed customers on account for providing services, $7,000. 3. Paid advertising expense, $800. 4. Received cash from customers on account, $3,800. 5. Owner made a withdrawal, $1,500. 6. Received telephone bill, $220. 7. Paid telephone bill, $220. Required: 1) In the table below, state the accounts affected...
19. A. Journalize the following selected transactions for January. Explanations may be omitted. B. Fom accounts. CA Jan. 1 Received cash from the sale of common stock, S14,000. Received cash for providing accounting services, 59,500. Billed customers on account for providing services, S4,200. Paid advertising expense, $700. Received cash from customers on account, $2,500. Paid dividends, $1,010. Received telephone bill, $900. Paid telephone bill, 5900 Date Description Post. Debit Ref. Credit FANTO-
Transactions Instructions Chart of Accounts Journal Instructions Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Jason Payne, Capital; Jason Payne, Drawing; Foes Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense. Transactions Oct 1 3 10 Paid rent for the month, $2,800. Paid advertising expense, $500. Paid cash for supplies, $1,300. Purchased office equipment on account, $9,500. Received cash from customers on account, $15,500. Paid creditors on account, $3,180. Paid...
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,...
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...
Enter the following transactions in the T-accounts below. Use key letters to identify each transaction. Foot and balance each T-account. Prepare a Trial Balance in good form. h Owner invests $20,000 cash and $300 of supplies in his new business, Happy Hunters. Recorded cash received for services rendered, $2,500. Billed customers for services rendered, $2,800. Received water bill, $240. Purchased supplies for $150 on account. Purchased equipment costing $900, paying $100 down and the remainder on account. Paid for an...
Exercise 2-02 Selected transactions for M. Acosta, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $10,000 cash in business. 3. Purchased used car for $3,000 cash for use in business. 9 Purchased supplies on account for $600. 11 Billed customers $2,400 for services performed. 16 Paid $350 cash for advertising. 20 Received $900 cash from customers billed on January 11. 23 Paid creditor $300 cash on balance owed. 28 Withdrew $1,000 cash for...
Selected transactions for M. Sheffield, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $14,100 cash in business. 3. Purchased used car for $4,230 cash for use in business 9 Purchased supplies on account for $705. 11 Billed customers $3,384 for services performed. Paid $494 cash for advertising. 20 Received $987 cash from customers billed on January 11. 23 Paid creditor $423 cash on balance owed. 28 Withdrew $1,410 cash for personal use by...
Question 1 Selected transactions for Pangy Box are listed below. Journalize the transactions 1. Jan 01 - Paid monthly insurance bill of $200.00 2. Jan 02 - Purchased new computer with cash for $1,325.00 3. Jan 05 - Paid cash for shipping charges of $287 4. Jan 10 - Billed customers for boxes already sent for $300 5. Jan 15 - Received cash from customers billed in transaction 4. 6. Jan 25 - Dividends of $1,000 paid to owners. 7....
6. Schultz Tax Services, a tax preparation business had the following transactions during the month of June: Example: Received cash the owner Schultz, $25,000. 1. Received cash for providing accounting services, $3,000. 2. Billed customers on account for providing services, $7,000. 3. Paid advertising expense, $800. 4. Received cash from customers on account, $3,800. 5. Owner made a withdrawal, $1,500. 6. Received telephone bill, $220. 7. Paid telephone bill, $220. Required: 1) In the table below, state the accounts affected...
Most questions answered within 3 hours.
-
Assume one of your finals has 50 questions on it, and
lucky for you, it's all...
asked 42 minutes ago -
Rice Products in Bangladesh
Business behavior is derived in large part from the basic cultural
environment...
asked 2 hours ago -
The following base sequence is found for a mRNA fragment from
wild-type E. coli: 5'- UAUCAGUAGAUAAUGUAACC-3'...
asked 2 hours ago -
For this exercise, round all regression parameters to three
decimal places.
One of the two tables...
asked 2 hours ago -
What is the 5% level of significance for mean = 3.60, standard
deviation = 0.94, and...
asked 2 hours ago -
Prior to beginning work on this discussion, please read the
article by Hayley Peterson, 15 Companies...
asked 3 hours ago -
Which pair of aqueous solutions, when mixed, will form a
precipitate?
A) NaNO3 and AgC2H3O2
B)...
asked 3 hours ago -
1-Write an algorithm to get two numbers from the user (as
inputs) and calculate the sum...
asked 6 hours ago -
Define white-collar crime. What is the difference between
offender and offense-based definitions of white-collar crime? What...
asked 7 hours ago -
Consider a reaction which is 1st order with respect to A and 1st
order with respect...
asked 7 hours ago -
c++
The length of the hypotenuse of a right-angled triangle is the
square root of the...
asked 7 hours ago -
When a metal rod is heated, not only its resistance but also its
length and cross‐sectional...
asked 7 hours ago