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) |
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. 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 $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 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...