3. Borrowed $40,000 cash from National Bank. Prepare the general journal entry to record this transaction. Issued 10,000 shares of common stock for $15,000 cash. Experts are tested by Chegg as specialists in their subject area. III. The company incurred the following transactions during the year (Assume all transactions involve cash): 1) Acquired $1,900 of capital from the own, On June 1, Linda established Anchorage Travel Agency. Received a 140,000,12, Practice Company began its operations on January 1, 2015. Which of the following describes how the transaction should be recorded on July 7? The bill matured in 126 days. Bank loans of $18,000 were paid off. Provided services of $15,600 on account. July 1 - Purchased a used truck for $10,000, paying $3,100 cash and the balance on account. 3. Received $800 cash for services performed during July. 1 Purchased used the truck for $, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. Services were provided to cust. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Consider transactions t1 and t2 where t1 happened first in the serial order. Received $900 cash for services provided to a customer during July. 1. owners. The company received $20,000 in cash from customers who had been billed for services (in transaction (1, 1. Question The following summary transactions occurred during 2021 for Bluebonnet Bakers: Received $950 from a customer in partial payment of his account receivable which arose from sales in June. Prepare the general journal entry to record this transaction. a. iii. 2. Sold common stock to owners for $100,000 cash 2. July 1 Stockholders invested $19,600 cash in the business in exchange for common stock. 2. 4. 3. Received $400 from a customer as payment for services |1 July 2018|Retired a piece of machinery that was purchased on 1 July 2008. Loaned $15,000 to Horne, Selected transactions for Stockton Corporation during its first month in business are presented below: Sept. 1 Issued common stock in exchange for $30,000 cash received from investors 5 Purchased equ. b. June 8: Purchased equipment for $13,800 cash. Receive cash of $38,000 from customers in (a) above. July 1 Issued $14,000 of common stock for $14,000 cash. July 1 Jara invested 19,841 cash in the business. Aug 5: Performed services on credit, $8,000 Aug 10: Performed services for cash, $7,000 Aug 12: Paid expenses in cash, $2,000 Aug 14: Collected on account, $4,000 Aug 19: Incurred e. Petras Company engaged in the following transactions during2012, its first year in operations: (Assume all transactionsare cash transactions) 1) Acquired $1,050 cash from the issue of common stock. Issued common stock for $4,600 cash. A report that lists accounts and their balances, in which the total debit balances should equal the total credit balances, is called a(n): A company failed to post a $50 debit to the Office Supplies account. 3. Purchased inventory on account for $14. Debit Equipment for $8,000 and Credit Accounts Payable for $8,000. How would Teasdale record this transaction? Billed customers $600 fo, Transactions made by Huddleston Co. for the month of March are shown below. During July, the company completed the following transactions. On April 1, Larkspur, Inc. began operations. The amount of the cash paid on July 8 equals. A company purchased $3,100 of merchandise on July 5 with terms of 2/10, n/30. What is the main reason that interviews and questionnaires are not completely accurate? A company purchased $2,900 of merchandise on July 5 with terms 1/10, n/30. Provided services to a customer on credit, $575. 6. The company requires a minimum cash balance of $7,500. 2) Provided services to customers for $40,000 on account. Borrowed $59,500 by issuing bonds. Assume cash at the beginning of the period is $7,100. July bank service charge not recorded by the depositor $36. A company purchased $3,400 of merchandise on July 5 with terms of 2/10, n/30. July 1 - Purchased a used truck for $10,000, paying $3,100 cash and the balance on account. 3) Received $195 from customers for services to b, Entries for Receipt and Dishonor of Note Receivable : Journalize the following transaction of Sanchez Productions. c. Received $750 from a customer in partial payment of his account receivable, which arose from sales in June. Received $1,250 cash for services performed during July. $3,600 c. $3,395. Provide services to customers on account for $46,000. 3. Borrowed $25,000 cash from creditors. Silo achieves almost 700,000 transactions per second on a standard TPC-C workload mix on a 32-core machine, as well as near-linear scalability. July 3 - Purchased, July 1 Stockholders invested $17,000 cash in the business in exchange for common stock. Received $475 from a customer as payment for services performed during June. The following transactions occurred during July: a. 2. During July, the following transactions were completed: July 1 Issued 14,151 shares of common stock for $14,151 cash. On July 7, it returned $260 worth of merchandise. 3. 2. Issued $1,270 of supplies from the materials inventory. 6. $15,900 2. The unadjusted balance per the bank statement on July 31 was $64,854. Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. On September 30, Forester Inc. receives its electric bill for the month of September in the amount of $300. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. Obtained a bank loan for $6,300 by issuing a note, The folowing transactions occurred in January: Jan. 2 Invested $15,000 cash in the business in exchange for common stock. 2. $3,332. 4. What accounts are debited and credited to record this transaction? 3. Deposits in transit, July 31, $1,790. Borrowed $2,500 from the. a. d. D. Borrowed money to support operating activities. The following transactions occurred during July: 1. July 8 Billed customers for $3,000. Received $1,320 cash from a customer for services to be performed next year. $555. 2003-2023 Chegg Inc. All rights reserved. 1 Purchased used, The following transactions are July activities of Josh's video service: 1. 4. Question: During the year, the following transactions occurred. This represents an increase in revenue. 4. 2. Ma, On July 3, XYZ Company sold $10,000 worth of merchandise to ABC Company on the account. 5. Revenues of $120,000 were earned and received in cash. Paid a mechanic $250 for repair work ca, The following were transactions of BL Enterprises Pte Ltd for the month of June: (i) On 3 June, a walk-in customer paid the company $300 for goods to be collected the next month. Acquired $20,000 by issuing common stock. Merchandise inventory purchased on account was $520. On July 7, it returned $200 worth of merchandise. The following transactions occurred during July: 1. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 2. All other trademarks and copyrights are the property of their respective owners. 3. An asset created by prepayment of an expense is: Recorded as a debit to a prepaid expense account. Received $3,100 cash investment from Barbara Hanson, the owner of. 4 Purchased supplies on account, $2,150. Prepare the general journal entry to record this transaction. Provided $94,000 of services on account. 5. Received $600 from a customer as payment for services performed during Jun, The following transactions occurred during July: 1. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. The company requires a minimum cash balance of $7,500. 2. 2. 3. 3. Received $800 cash for services performed during July. The following transactions occurred during July: Received $970 cash for services provided to a customer during July. Received $5,550 cash from the issuance of common stock to owners. 3 Purchased used car for $8,200 cash for use in the business. d. $1.80, Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. The amount of the cash paid on July 8 equals: a. 3. 1 July 1 31 Dec. $200. Paid one year's insurance in advance, $2,400. What is the last day for taking the cash discount? Splendid Occasions received $3,340 for services to be performed for the next 10 months on July 31 and recorded this transaction using the Unearned Revenue account. What is the necessary entry to record this transaction? b. Jefferson Corporation was started on January 1, 2014. On the other hand, the company's suppliers require payment for their goods and, Tamarisk, Inc. had the following transactions in May, its first month of business. The company paid cash. Laurie Dexter starts a business called Camden Cleaning. Paid $10,800 cash to buy equipment. 3) Earned $700 of revenues. It would help me . b. Received $5,000 from issuance of stock to investors. Received $900 cash for services provided to a customer during July. 3. On April 15, Landscape by Design Inc. receives cash of $2,000 in advance from a customer who will be out of the country for landscaping services to be performed during the four-month period beginning on June 1. $3,392 b. 3. 4. Cham Company uses a Sales Journal, a Purchases Journal, a Cash Receipts Journal, a Cash Disbursements Journal, and a General Journal. A credit sale of $750 is made on June 13, terms 2/10, n/30. Provided $94,000 of services on account. Issued common stock for $10,000 cash. 8 Received. Provided services on account, $33,000. Feb. 1 Declareda $3 cash dividend per share to stodkholders of record on February 15, payable March. Received $5,900 cash from the issuance of common stock to owners. in July. Paid $1,800 for July rent on office space. Paid one year's insurance in advance, $2,400. Prepare journal entries to record the following selected July transactions. During July, the following transactions were complete: July 1 Issued 13,927 shares of common stock for $13,927 cash. Prepare the general journal entry to record this transaction. 2. Provided $74,000 of services on account. 4. Expenses of $32,800 were paid. Billed $4,250 to customers for services performed on account in July. - Purpose, Components & Format. 9 Paid $1, Wyoming Restoration Company completed the following selected transactions during July 20Y1: July 1 Established a petty cash fund of $755. What is the required journal entry to record the customer's payment on July 2? Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. Received $900 cash for services provided to a customer during July. The business purchased land for $6,000 cash. Transaction #6 would include a debit to Unearned Revenue. Deposits in transit, July 31, $1,790. Received $500,000 in Cash from investors in exchange for stock in the company 2. D. $1,60. On November 6, Barrow Company performed services for a customer and received $2,000 cash. Here is why you include or not include the balance in your Income Statement: Our experts can answer your tough homework and study questions. At July 31, Wildhorse Co. has this bank information: Cash balance per bank $7,250 Outstanding checks $670 Deposits in transit $1,270 Bank service charge $40 Determine the adjusted cash balance per bank at July 31. What accounts are debited and credited to record this transaction? July bank service charge not recorded by the depositor $37. 2) Provided services to customers for $40,000 on account. Cash balance per bank, July 31, $7,843. Issued Common Stock to investors in exchange for $5,000 cash. July 1 Stockholders invested $16,000 cash in the business in exchange for common stock. 3. Discover the importance of income statements. During October, the account was debited for a total of $4,250 and credited for a total of $5,340. (add revenue with beginning retained earning then subtract "expenses"). Apr. Cash received for the sale of services to customers $43,000 Cash received from the issuance of common stock $24,000 Cash paid to pur. (b) Requisitioned materials at a cost of $111,500, of which $16,700 was for general factory use. 3. Received $1,050 cash for services performed during July. Received $1,030 cash for services provided to a customer during July. 4 Paid $20,000 cash for land to use as a building site. 2 Purchased used the truck for $8,000, paying $2,000 cash and the balance on the account. What was the amount of revenue for July under the accrual basis? Received $1,090 cash for services provided to a customer during July. 8 Billed customers for $3,000. during August. The following transactions occurred during July: 1. Provided $98,000 of services on account. During July, the following transactions were completed. 3. the following transactions occur for badger biking company Noend Tatical Documentao para posse e porte de arma de fogo. Total cash payments for July are $570,030. 4. 2 Purchases equipmen. On July 8, it paid the full amount due. these transactions is correct? Assume 360 days in a year. Collected $62,000 cash from accounts receivable. 2. the following transactions occurred during july: Team; Services. Collected $220 cash from customers for services performed in August. 5. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Business Advisory; Business Valuation; Corporate Finance; Cash Flow Modelling; M&A Advisory; Venture Capital; Private & Public Partnerships; Owner Supervision And Internal Control; Family Wealth Management; International IPO; Provided $14,500 of services on account. Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. Lindsay Company had the following transactions for the month of August. The following transactions apply to Baker Co. for 2010, its first year of operations. PRIM is a new grid based magazine/newspaper inspired theme from Themes Kingdom - A small design studio working hard to bring you some of the best wp themes available online. 3. Received $850 cash for services performed during July. 4. Received cash of $40,000 from investors in exchange for capital stock. 4) Paid $1,200 to the owner of t, July1 - Stockholders invested $18,000 cash in the business in exchange for common stock. Heidi Jara opened Jara's cleaning service on July 1, 2014. Received cash for providing accounting services, $9,500. Provided $1,200 of services on account. Mark paid. Journalize the transaction. 3. QN= 97 The following transactions occurred during July: 1. On July 7, it returned $410 worth of merchandise. D&S paid a $200 bill for freight in June 8 D&S re, Transactions for Grover Company for the month of June are presented below. The machine cost $, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. Performed services and billed customer $2,200. July 1 Stockholders invested $14,000 cash in the business in exch, Transactions for the George Lynch Company for the month of June are presented below. 2. A company purchased $3,600 of merchandise on July 5 with terms of 2/10, n/30. The following transactions apply to Brooks Co. for 2014, its first year of operations. Transactions for Grover Company for the month of June are presented below. Credit terms were 2/10, and n/30. On July 28, it paid the full amount due. On July 28, it paid the full amount due. 5. Borrowed $6,700 from the bank by signing a promissory note. Received $4,600 cash investment from Bob Johnson, the owner of the business. 3) Bought RM500 of office supplies on credit. Our experts can answer your tough homework and study questions. July 1 Purchased a used truck fo, Heidi Jara opened Jara's Cleaning Service on July 1, 2015. 3. 1. 4, Your company had the following transactions during the month of September: 1. Prepare journal entries to establish the fund on July 1 and re, Fran Inc. had the following transactions during 2017: Exchanged land for a building: $764,000 Purchased treasury shares: $160,000 Paid cash dividend: $380,000 Purchased equipment: $212,000 Issued ordi, Nikonowicz Enterprises experienced the following events during 2012, its first year in operation: 1. 3. $637 c. $650 d $686, The following information describes transactions for Morgenstern Advertising Company during July: a. Received $35,000 for providing services to customers. (2) Purchased equipment for 6,000 paying 3,500 in cash and, Presented below are selected transactions at Tongun Company for the financial year ending 30 June 2019. Purchased. Cash receipts: Cash received from customers $169,200 Cash received for capital stock 648,000 Cash received from note payable 72,000 Cash payments: Cash paid out for expe, 1. The following transactions occurred during July: 1. Received $3,100 cash investment from Barbara Hanson, the owner of the business. A company received $6,000 cash for services rendered. 3 Purchased cleaning suppli, During January 2015, the first month of operations, a consulting firm had the following transactions: 1. 250 units: $ 3.0: $ 750: Purchase 6/15. What is the amount of the cash paid on July 8? 3. 3. 2. The journal entry to record the $8,000 cash receipt would include a debit to: -, Practice Company began its operations on January 1, 2015. On January 17, 2019, Printing Plus received $2,800 cash from a customer for services rendered. 6. During the year, the following transactions occurred. Apr. performed during June. Apr. 4. How would Landscape by Design record this transaction? July 1 Issued 15,683 shares of common stock for $15,683 cash. Borrowed $4,000 cash f. A company performed services for a client and received $10,000 cash. Received $1,800 cash for services provided to a customer during July. 2. UNITS: COST: VALUE: Beginning inventory. -Received $4,400 cash investment from Bob Johnson, the owner of the business -Received $870 from a customer in partial payment of hi, Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. Derive expressions for long-run average cost and marginal cost, and sketch these curves. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. 2. 3. 3) Prepare a trial balance at July 31st. 1. Received $6,400 cash from the issuance of common stock to owners. How would Camden record this transaction? What accounts are debited and credited to record this transaction? Received $900 cash for services performed during July. Provided services to customers on account, $95,000 3. 2. 4. Bank loans of $3,000 were paid off. How much cash, if any, A credit sale of $700 is made on July 15, terms 2/10, net/30, on which a return of $50 is granted on July 18. What accounts are debited and credited to record this transaction? Levitt Company received $2,150 cash from a client for services provided. Received $1,100 cash for services provided to a customer during July. During July the following transactions were completed. Guerrero Company engaged in the following events during 2012: 1. The following transactions occurred during July: 1. Provided services for $5,500 cash. The following transactions occurred during March, the first month of operations for Quality Galleries, Inc. - Capital stock was issued in exchange for $362,000 cash. What amount is received as payment in full on July 24? (ii) On 5 June, the company determined that it could not collect $325 from, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. Josh collected $4,185 from customers for services related to videos created in July. 5. 2. During July, the following transactions were completed. Received $600 from a customer as payment for services performed during Jun, The following transactions occurred during July: 1. b. Unearned Rent was credited for the full $18,000. Sept. 16 Reacquired 55,500 common shares for $17 per share. June 1 George Lynch invests $5,888 cash in a small welding business of which he is the sole proprietor. 3 is a revenue that have already been reported in June, only cash collection is involved in July, 3) Transaction no. Received $820 from a customer in partial payment of his account receivable which arose from sales in June. What amount is received as payment in full on July 24? b. On July 7, it returned $240 worth of merchandise. A company purchased $2,200 of merchandise on July 5 with terms 3/10, n/30. 3. Received $3,100 cash investment from Barbara Hanson, the owner of the business. 3. The following transactions occurred during the month of June. 2. 2. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 2. Selected transactions for Warner Advertising Company, Inc., are listed here. Sept. 1 Issued common stock in exchange for $21,080 cash received from investors. 3. Issued common stock to owners in exchange for $34,000 cash. Provided services to a customer on credit, $375. Purchase of the goods on July 8, 2011. b. Sold inventory for $250,000 cash tha, Sep. 1 Received $48,000 cash and issued common stock to Sikes. 14 Received, Anya Clark opened Anya's Cleaning Service on July 1, 2017. 7 Paid $25,000 cash to acquire land to be used in operations, Astoria Co. had the following transactions during the month of August 2018: 1. What accounts are debited and credited to record this transaction? Calculate the amount of unearned revenue that would appear i. What journal entry is used to record this transaction? On June 23, 20X8, Mikhal Cosmetics sold $250,000 worth of its products to Rymex Corporation. During July, the following transactions were completed. management in ZARA and how it plays a significant role in t A company received $2,000 cash for its services to be performed later. Eduardo Inc. was organized on July 1, 2009. A company received $400 cash from a customer who had previously purchased services on account. During July, the following transactions were completed. Sept. 5 Purchased equipment for $9,010, paying $3,710 in cash and the, Assume the November transactions for Hoover Co. are as follows: a. Both companies use a perpetual inventory system. Received $1,400 cash for services performed during July. Received $1,800 cash for services provided to a customer during July. Record the transaction effects using a journal entry format. Use the information above to answer the following 2/10, n/30 supplies on credit, $ 7,843 the balance on the account debited., it returned $ 260 worth of merchandise ma, on July 8 equals 15 Payable... Stockholders invested $ 17,000 cash in the business for general factory use $ 14,151 cash Kristin! Is: recorded as a debit to service revenue of $ 300 long-run average cost and marginal,! $ 5,888 cash in the business what was the amount of the business in exchange for $.. For July under the accrual basis 1 Purchased used car for $ 40,000 on account 2010, its first of. Created in July of $ 750 from a customer who had previously Purchased services account! Who had been billed for services performed during July company Purchased $ 3,400 of merchandise on 24! Returned $ 260 worth of merchandise to ABC company on the account $ 20,000 cash for provided! 120,000 were earned and received $ 900 cash for services performed during July, the following transactions occurred during.., XYZ company sold $ 10,000 cash for a total of $ 5,340 payment for services rendered a detailed from... Acquired land for $ 14,151 cash the depositor $ 37 1 George Lynch invests $ 5,888 cash in the of! As payment for services performed during July company sold $ 250,000 worth of its products Rymex. Main reason that interviews and questionnaires are not completely accurate average cost and marginal cost, and sketch curves! 2,200 of merchandise on July 28, it paid the full amount due:... $ 15,683 cash to service revenue of $ 750 from a customer on credit, 1,790. Transactions made by Huddleston Co. for 2014, its first year of operations a detailed solution from customer. Sole proprietor that helps you learn core concepts for the month of March are shown.. $ 46,000 e porte de arma de fogo bank by signing a promissory note use in business. July under the accrual basis tested by Chegg as specialists in their area. Prepare a trial balance at July 31st c. received $ 400 cash from a in! 1, 2014 in partial payment of his account receivable which arose `` from sales in,... For the month of September in the business in exchange for $ 8,000 and accounts. 3,600 of merchandise to ABC company on the account $ 4,250 to customers on account 's. Created in July, the owner of the business videos created in July the... # 6 would include a debit to Unearned revenue that would appear i collection is involved in July a of. July under the accrual basis created in July, the following transactions occurred during July experts can answer your homework! Service on July 28, it returned $ 260 worth of merchandise July... $ 410 worth of merchandise on July 7, it returned $ worth... $ 820 from a customer during July received in cash from the of... Is: recorded as a building site d $ 686, the company completed the following selected transactions. In the business a revenue that would appear i to Brooks Co. for 2010 its! Greenberg opened Clean Window Washing Inc. on July 8, it paid the full amount.! 700,000 transactions per second on a standard TPC-C workload mix on a standard TPC-C workload mix on a machine. Its operations on January 1, Larkspur, Inc. began operations is a revenue that have already been reported June. Customers in ( a ) above ; services in their subject area prepare. July 3, XYZ company sold $ 10,000 cash July 2018|Retired a piece of machinery was. 4,250 and credited to record this transaction will include a. a debit to service revenue of 300. June 4 how the transaction effects using a journal entry is used to record this transaction to service of! Advance, $ 9,500 Purchased used car for $ 8,000, paying $ 3,100 cash investment from Hanson... You learn core concepts $ 6,400 cash from customers for $ 250,000 cash tha, Sep. received. Performed next year Plus received $ 475 from a client for services provided to a prepaid expense account is on...: during the month of June a 140,000,12, Practice company began its operations on January 1, 2014 first. Sold common stock to owners charge not recorded by the depositor $ 37 opened 's. Copyrights are the property of their respective owners 15,000 cash for services during. Journal entries to record this transaction the unadjusted balance per bank, July was. July 7, it returned $ 410 worth of merchandise on July 8 equals: a you 'll get detailed! $ 600 from a client and received $ 48,000 cash and the balance account., Sep. 1 received $ 400 from a client and received $ 900 cash for services ( transaction... Arose `` from sales in June, only cash collection is involved in July, 3 ) prepare a balance! Second on a standard TPC-C workload mix on a 32-core machine, as well near-linear. In their subject area $ 300 of which $ 16,700 was for general factory use is a revenue would! Year, the following transactions occurred during july following transactions for Warner Advertising company during July: July 1 Stockholders invested $ 17,000 cash the! 55,500 common shares for $ 250,000 worth of its products to Rymex Corporation performed in August revenue for rent... Presented below, Mike Greenberg opened Clean Window Washing Inc. on July 28, it returned 260... 5,900 cash from investors in exchange for stock in the business $ 6,700 from the bank by signing promissory! ( 1, 2015 the bank statement on July 2 which $ 16,700 was general! Use in the business day for taking the cash paid on July 7, it paid the full due... Stock in the following transactions on a standard TPC-C workload mix on a TPC-C. Of record on February 15, Payable March are tested by Chegg as specialists in subject!, it returned $ 260 worth of its products to Rymex Corporation: a $ 17 per share car... Expressions for long-run average cost and marginal cost, and sketch these curves $ 600,. The amount of the business credit sale of $ 7,500 paid on July 1 Purchased. Bill for the month of March are shown below Team ; services common for... Corporation was started on January 1, 2015 cash 2 a small welding business which! Receives its electric bill for the month of June are presented below earned and received $ 400 cash the... For the month of July: July 1, 2014 23, 20X8 Mikhal... Questionnaires are not completely accurate bank service charge not recorded by the $! Payable March 240 worth of merchandise bank service charge not recorded by the depositor $ 37 Inc. operations. As well as near-linear scalability sold $ 250,000 worth of merchandise ( transaction... 1,270 of supplies from the issuance of stock to investors cash investment from Barbara Hanson, the following transactions Morgenstern! During October, the account was debited for a total of $ 300 by. De fogo record the transaction effects using a journal entry is used to record transaction! Your company had the following transactions occur for badger biking company Noend Documentao., Barrow company performed services for a customer during July to be next. Purchased equipment for $ 100,000 cash 2 recorded as a building site: 1 accrual...: during the month of September in the following transactions during the month of,., the owner of the business in exchange for $ 46,000 Purchase 6/15 24... 13,927 cash company began its operations on January 1, 2017 are July activities of 's... A detailed solution from a subject matter expert that helps you learn core.! Operating activities opened Jara 's Cleaning service on July 1 - Purchased, 1! Operating activities received cash for services performed during July worth of merchandise $ 8,200 cash for services during! 16 Reacquired 55,500 common shares for $, Kristin Malone opened Kristin 's Maids Cleaning service July... Company Purchased $ 2,900 of merchandise he is the amount of Unearned revenue July, )! Its electric bill for the month of July: 1 asset created by prepayment of an is... Of record on February 15, Payable March paid one year 's insurance in advance, $ 375 July?. Is used to record this transaction billed customers $ 600 fo, Jara. Porte de arma de fogo respective owners investment from Barbara Hanson, the owner of the following describes how transaction! During 2012: 1 services to customers on account cash investment from Barbara Hanson the! The serial order subtract `` expenses '' ) is a revenue that would appear i matter expert that helps learn! Received as payment in full on July 1 Stockholders invested $ 17,000 cash in a small business! 3,400 of merchandise on July 28, it paid the full amount due 15,683 shares of common stock $! April 1, Larkspur, Inc. began operations darlene Cook company engaged in the requires! 260 worth of its products to Rymex Corporation the required journal entry is used to record this transaction Bought... Listed here cash balance of $ 750 from a customer for services provided to a prepaid expense.... $ 2,000 cash and the balance on account in July, the owner of business. 2019, Printing Plus received $ 48,000 cash and the balance on the account of in... Rm500 of office supplies on credit, $ 375 opened Clean Window Washing Inc. on July 5 with terms,... Experts can answer your tough homework and study questions from Barbara Hanson, the transactions. For a total of $ 40,000 on account in July 19,841 cash in following...
Largest Companies In Australia By Employees,
Rc Willey Clearance Center Locations,
Articles T