2. d. Received utility bill, to be paid next month, $400. The following transactions occurred during July: a. 3. 5 6 8 Crane Company purchased merchandise from DeVito Company for $12,400, terms 2/10, n/30, FOB shipping point. 2. Billed customers for fees earned, $73, 900. Received $900 cash for services provided to a customer during July. 3. 3 . If Splendid Occasions had recorded their service revenue using the other method, how much s, The following selected transactions were completed during August of the current year: Transactions Aug.1 Billed customers for fees earned $74,050. Journalize the following transactions. Which of the following items would appear on the income statement? 3. 4. 3. 3. Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. The bill matured in 126 days. Issued common stock for $10,000 cash. 4. 5 The company purchased $2,400 of office supplies for cash. performed during June. Provided $98,000 of services on account. Performed services and billed customer $2,200. Issued $120,000 of common stock for cash. 1. July 1 - Purchased a used truck for $10,000, paying $3,100 cash and the balance on account. June 1 Issues common stock to investors in exchange for $5,000 cash. Debit to Equipment, credit to Notes Payable, credit to Cash. 3. 2. (add revenue with beginning retained earning then subtract "expenses"). 3.The co. Journalize Muddy John's transactions for July 1, 2011 and July 10, 2011. 2. Acquired $15,600 cash from the issue of common stock. The following transactions occurred during March 2021 for the Wainwright Corporation. Apr. Borrowed $25,000 cash from creditors. Received $1.080 cash for services provided to a customer during July. 3. 2. How will that be recorded in the general journal? Received $1,200 from a customer in partial paym, The following transactions occurred during July: a.Received $1,550 cash for services provided to a customer during July. 2. What accounts are debited and credited to record this transaction? Calculate the amount of unearned revenue that would appear i. The following transactions were completed during the month. 8 Received cash from cu, Using the following transactions: a. Services were provided to cust. Borrowed $6,000 from the bank by signing a promissory note. Provided services on account. - Purchased supplies on account, $1,800. 2. Heidi Jara opened Jara?s Cleaning Service on July 1, 2014. $3,500. 3. Provided services to a . Received $880 from a customer in partial payment of his account receivable which arose from sales in June. 2. Received $1,250 cash for services performed during July. The cash inflows or receipts increase the cash balance while the cash outflows or payments decrease the cash balance. iv. 1) Collected $395 cash from customers for services provided in May. 3. July 1 Issued $14,000 of common stock for $14,000 cash. The company sold 525 units in June. Issued $130,000 of common stock for cash. Received $400 from a customer as payment for services c. Received $1,075 from a customer in partial pay, The following transactions occurred during July: -Received $1,020 cash for services provided to a customer during July. 1. Received a 140,000,12, Practice Company began its operations on January 1, 2015. The following transactions occur from August 1 through December 31. The following transactions were completed during the month. Provided services to a customer on credit, $375. The company requires a minimum cash balance of $7,500. Prepare the general journal entry to record this transaction. What journal entry is used to record this transaction? C. $1,568. Paid expenses amounting to, During July, the following transactions occurred: July 1 Purchased $11,800 of merchandise on account July 10 Purchased $1,900 of merchandise with cash July 15 Purchased $900 of office supplies on account July 20 Made payment of $5,300 on accounts payable, Eduardo Inc. was organized on July 1, 2009. On June 30, Roman Co. has $125,900 of accounts receivable. a. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. During the month of July, the company had the following activities: a. $200. Acquired $30,000 cash from the issue of common stock. Going by the Accrual principle in Accounting, the revenue to be recognized has to be for services rendered in the period of interest regardless of it is in cash or on account. Jefferson Corporation was started on January 1, 2014. Received $5,900 cash from the issuance of common stock to owners. b. July 1 Jara invested $20,193 cash in the business July 1 Purchased used truck for $9,014, paying $4,127 cash and the balance on the account. 2. Received. 250 units: $ 3.0: $ 750: Purchase 6/15. - Received cash from cust, On August 1, 2XXX, Jackson Corporation purchased machinery from Morgan Company for expanding its production operation. 1 Purchased a used truck for $1, During the month of October 2015, Weller Company had the following transactions: 1. Learn about cash receipt journals in accounting. Received cash for providing accounting services, $9,500. Provided services to a customer on credit. iii. Journalize this transaction. Issued 6,000 shares of common stock for $600,000 cash. Cash balance per books, July 31, $, On the last day of the month, a company receives $8,000 of cash from customers. II. 4. A company received $75,000 cash for providing services to customers. During 2014, Lang received $38,400 cash from revenue and incurred costs that required $48,400 of cash paymen. During July, the following transactions occurred: July 1 Purchased $11,800 of merchandise on account July 10 Purchased $1,900 of merchandise with cash July 15 Purchased $900 of office supplies on account July 20 Made payment of $5,300 on accounts payable; Eduardo Inc. was organized on July 1, 2009. Of that amount, $1,000 was for services performed and $7,000 represented payments on account. Received $1.250 cash from a customer for services to be rendered next year. Provided services to customers on account, $95,000 3. Aug 10: Purchased merchandise on account, $12,000, terms 2/10, n/30. Purchased equipment on account. July 1 Stockholders invested $20,000 cash in the business in exchange for common stock. A company purchased $2,900 of merchandise on July 5 with terms 1/10, n/30. 3. Increase in cash $3,500 and increase in retained earnings $3,500 b. On June 12, Marlin Company received $700 cash from a customer for services performed. 4. c. Billed customers for services rendered, $6,000. We reviewed their content and use your feedback to keep the quality high. Received $1,200 cash for services performed during July. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. Received cash from. 14 Received, Anya Clark opened Anya's Cleaning Service on July 1, 2017. The amount of the cash paid on July 8 equals _____. Debit memo for July service charge 5,000 Deposit of July 31 not recorded by bank, The following events pertain to Super Cleaning Company: 1. b. Revenues of $120,000 were earned and received in cash. 1) Linda invested RM30,000 cash in the business. On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. 2 Purchased $800 of office supplies on account. 3. question. What is the main reason that interviews and questionnaires are not completely accurate? Journalize BullsEye's transactions for July 1, 2011. The unadjusted balance per the bank statement on July 31 was $64,854. June 1 George Lynch invests $4,683 cash in a small welding business of which he is the sole proprietor. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. How would Landscape by Design record this transaction? Received $940 from a customer in partial payment of his account receivable which arose from sales in June. Paid cash owed to a supplier. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. -Beginning cash balance for July: $80,000 -Budgeted cash receipts for July: $95,000 -Budgeted cash disbursements for July: $120,000 -Minimum ca. Received a 140,000,12. A company purchased $3,800 of merchandise on July 5 with terms of 2/10, n/30. 2. On July 8, it paid the full amount due. As a result of these transactions, what is the amount of the increase to the Cash account? 2. 2. The following transactions were completed during the month. Cash account 3. Received $5,550 cash from the issuance of common stock to owners. Received $500,000 in Cash from investors in exchange for stock in the company 2. Prepare the general journal entry to record this transaction. 1. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. 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. i want to log off of my account how do i do that?? The following transactions occurred during July: 1. 3. 4. 2. On July 7, it returned $320 worth of merchandise. On July 7, it returned $200 worth of merchandise. A summary of cash flows for July follows. Received $68,000 cash for providing services to customers. 2. During July the following transactions were completed. The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from: Collections from customers. 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. 3. Revenues earned and received in cash amounted to $33,500. Received $1,030 cash for services provided to a customer during July. Dividends of $9,500 were paid to stockholders in cash. Received $900 cash for services provided to a customer during July. Received $400 from a customer in, The following transactions were completed by Nelson's Boutique, a retailer, during July. Howard Services, Inc., has $8,400 cash on hand on July 1. Received $400 from a customer as payment for services performed during June. Purchased $50,000 of equipment by making a $20,000, Some of the transactions of XYZ Corporation during August are listed below. June 1 Issues common stock to investors in exchange for $5,890 cash. 4. During October, the account was debited for a total of $4,250 and credited for a total of $5,340. What is the amount of the cash paid on July 8? The following selected transactions were completed during August of the current year: Aug. 1 Billed customers for fees earned, $74,140. Linda Blye opened Cardinal Window Washing, Inc. on July 1st, 2010. Received $7,100 cash from the issuance of common stock to owners. Terms on sales on account are 2/10, n/30, FOB shipping point. Which of the following is the appropriate journal entry if a company purchases equipment costing $100,000 by paying cash of $10,000? Received $6,400 cash from the issuance of common stock to owners. d. Received $6,600 cash from the issuance of common stock to owners. Expenses in. Received $1,800 cash for services provided to a customer during July. Issued common stock to owners in exchange for $34,000 cash. Total cash payments for July are $572,150. The February 28 cash balance was $1,800. The bank service fee was $35. Billed customers $600 fo, Transactions made by Huddleston Co. for the month of March are shown below. Purchased office supplies on account, $5,800. c. $3,528. The following transactions occurred during July: 1. During July, the following transactions were completed. Received $800 cash for services performed during July. 6. Paid $300,000 Cash for an Office Building 3. What was the balance in the Cash account at the beginning of October? Provided services to a customer on credit, $445. 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, Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Use the information above to answer the following question. The following transactions occurred during the month of October: 1) Paid $1,500 cash for store equipment. Revenues of $120,000 were earned and received in cash. It would help me . Received cash from, The following transactions apply to Brooks Co. for 2014, its first year of operations. A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. 2 Purchased used the truck for $8,000, paying $2,000 cash and the balance on the account. If payment is made on June 23, how much cash is received? Which of the following statements about the recording of A company received $4,720 cash for services provided. 1 Purchased a used truck for $10,000, paying $3,000 cash and th. Paid $8,610 cash dividend to stockholders. What amount is received as payment in full on July 24? in July. 2 Purchas, Transactions for the George Lynch Company for the month of June are presented below. Received $1,400 cash for services performed during July. Paid dividends. June 1 George Lynch invests $5,888 cash in a small welding business of which he is the sole proprietor. Question: The following transactions occurred during July: 1. On January 17, 2019, Printing Plus received $2,800 cash from a customer for services rendered. Journal entry for fees earned. Provided services to customers on account, $2,000. On July 5, Morgenstern purchased and received $24,300 of supplies on credit from Drexel Supply Inc. During July, Morgenstern paid $20,500 cash to Drexel. The articles of incorpora, The following transactions occurred in D&S, the pharmacy chain during June of the current year: June 6 D&S purchased $12,000 of merchandise from Belvidere on credit terms of 3/10, n/30, FOB shipping point. Issued Common Stock to investors in exchange for $5,000 cash. The revenue transactions for the month of July therefore will be for only services rendered in July. Received $880 from a customer in partial payment o, The following transactions occurred during July: 1. 6. Loaned $15.000 to Horne C, Selected transactions for Evergreen Lawn Care Company are listed below. July 1 Purchased used truck for $9,000, paying $2,000 cash and the balance, July 1 Issued 12,000 shares of common stock for $12,000 cash. Received $5,000 cash from the issuance of common stock to during August. Discover the importance of income statements. 5. 2 Purchas, The following summarized transactions for Kim's Company are typical of those that occurred in July 2010 (dollars are in millions). $300,000 down payment now and $100,000 per year for, The following information revealed the transactions of XYZ Pte Ltd for the month of June: Date Transactions Units Purchased (Sold) Unit Cost June 1 Beginning Inventory 300 $10.00 June 3 Purchase 300 $11.00 June 8 Sale (200) June 16 Purchase 400 $11.50 Ju, Action Real Estate received a check for $18,000 on July 1, which represents a 6 month advance payment of rent on a building it rents to a client. 2. 1. 3. Received $950 from a customer in partial payment of his account receivable which arose from sales in June. Paid $1,800 for July rent on office space. Received $900 cash for services provided to a customer during July. 5. 3. Received $1,050 cash for services performed during July. a. 4. Deposits in transit, July 31, $1,790. owners. On July 8, it paid the full amount due. 4 Paid $20,000 cash for land to use as a building site. 1) As a result of these transactions, what is the amount of the Transaction for Grover Company for the month of June are presented below: Bills Matt Wilfer $650 for welding work done. 2 The company rented equipment by paying $2,000 cash for the first month's (July) rent. How would Forester record this transaction? fechar. b. the amounts received from customers for goods or services and the amounts paid for the inputs used to provide the goods or services. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Received $3,100 cash investment from Barbara Hanson, the owner of. iii. Acquired $15,600 cash from the issue of common stock. Bought $8,986 of merchandise, $3,410 for cash, and $5,576 on account. 3 Purchased used car for $8,200 cash for use in the business. Raw materials used in production,190,000 (178,000 direct materials and12,000 indirect materials). 8 Received. 2. The following transactions occurred for Lambert Engineering: July 2 Received $8,000 contribution from Rob Lambert in exchange for common stock July 4 Paid utilities to the expense of $430 Journalize the transactions of Lambert Engineering. 2. Received $820 from a customer in partial payment of his account receivable which arose from sales in June. $1,564. The interest rate was 10.875% ordinary interest at exact time. the following transactions occur for badger biking company jingnuo water fountain instructions hollywood hillbillies cast salaries . Question The following summary transactions occurred during 2021 for Bluebonnet Bakers: 4. The increase in the cash account is $13,050. Provided services of $15,600 on account c. Purchased supp. Expenses of $32,800 were paid. b.Received $2,850 cash investment from Barbara Hanson, the owner of the business. Prepare the general journal entry to record this transaction. 2. $15,000 cash was paid and a notes payable to the seller was signed for the balance owed. Provided services for cash, $22,000. A company received $3,000 cash from clients for services provided. Received $500,000 in Cash from investors in exchange for stock in the company 2. 2. Received $2,200 cash investment from Barbara Hanson, the owner of the business. The following transactions apply to Park Co. for 2016 Received $32,000 cash from the issue of common stock. What accounts are debited and credited to record this transaction? A company received $6,000 cash from clients who were billed for services previously provided. 4. 2. 1 Purchased used truck for $11,683, paying $2,162 cash and the balance o, Your company had the following transactions during the month of September: 1. Received $625 from a customer as payment for services performed during June. note. Transaction #4 would include a debit to Accounts Receivable. Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. Selected transactions for Warner Advertising Company, Inc., are listed here. Provided services to a customer on credit, $375. 3. Paid $4,000 in cash and borro, Jackson Company had the following transactions during the month of July: 1. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. 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 services for $5,500 cash. The company received $20,000 in cash from customers who had been billed for services (in transaction (1, 1. 3. Question: During the year, the following transactions occurred. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Also prepare any footnotes to the July 31 financial statements that result from these transactions. Issued common stock for cash, $5,000. July 1 Stockholders invested $17,000 cash in the business in exchange for common stock. Received $1,030 cash for services provided to a customer during July. On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. Mar. Provided services for $5,500 cash. Received $1,675 from a customer for services to be performed during August. The journal entry to record the $8,000 cash receipt would include a debit to: -, Practice Company began its operations on January 1, 2015. 5. 4. Purchased equipment for $16,000 cash on July 1, 2017. June 1 Mark invested $10,000 cash in the business. 3. 3 Purchased cleaning supplies for $900 on the ac, Journalize transactions: April 1 Received 25,000 and issued common stock. Received $2,200 cash investment from Barbara Hanson, the owner of the business. July cash collections are $548,450. 3. b. June 8: Purchased equipment for $13,800 cash. The following transactions occurred during July: Received $900 cash for services provided to a customer during July. 6. 5 Made credit sales of $25,000 Jun. Expenses of $73,600 were pa, Transactions for Sheridan Company for the month of June are presented below. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 3. The company performed $20,000 of services for customers on account. Provided $1,200 of services on account. Experts are tested by Chegg as specialists in their subject area. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $233,170. Deposits in transit, July 31, $1,790. Issued common stock for $23,500 cash. A company purchased $2,200 of merchandise on July 5 with terms 3/10, n/30. Issued 41,000 shares of common stock in exchange for $410,000 in cash. 3 Purchased cleaning suppli. Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. The following transactions occurred during July:Received $900 cash for services provided to a customer during July. During July, the following transactions were complete: July 1 Issued 13,927 shares of common stock for $13,927 cash. Calculate this company's debt ratio. 2. 1. 2. July 1 :Issued 12,000 shares of common stock for $12,000 cash. Equipment of $40,000 was purchased with cash. 2. Feb. 1 Mar. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Executive Summary and Introduction, which should discuss the overall concept of operations A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. Received. Prepare a journal entry on August 13 for cash received for services rendered, $15,000. 3. 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. Collected $520 cash from customers for services performed in September. b. The business purchased land for $6,000 cash. c. June 15: Made cash sales of $21,400 to customers. A company acquired $17,500 by issuing common stock. Purchased land for $12,000, signing a note payable for the full amount. 3 Purchased cleaning suppli, During January 2015, the first month of operations, a consulting firm had the following transactions: 1. 3) Prepare a trial balance at July 31st. 3. management in ZARA and how it plays a significant role in t 1 Made cash sales of $15,000 Jun. 1. Received $14,000 cash from a previously billed customer for services performed. 3. 1) Transaction no.2 is a stock transaction, 2) Transaction no. 3. 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. Better Corp. completed the following transactions during Year 2: 1. b. Borrowed $2,700 from the bank and signed a promissory note. Received $1,800 cash for services provided to a customer during July. Record the journal entries associated with these three transactions. A credit sale of $750 is made on June 13, terms 2/10, n/30. 2. Borrowed $6,700 from the bank by signing a promissory note. 2. Received $950 cash for services performed during July. $3,392 b. The effect of this error will be that the: Given the trial balance amounts below, compute ending retained earnings. 4. Billed $3,500 to customers for services performed on account The following transactions occurred during 2018 for the Beehive Honey Corporation: Feb. 1 Borrowed $31,000 from a bank and signed a note. 3. The following transactions occurred during July: 1. A record containing all accounts (with amounts) for a business. The following transactions occurred during July: 1. A) Calculate the number of units in ending inventory at June 30. 1: Purchased used truck for $8,000, paying $2,000 cash and the balance, On April 1, Tamarisk, Inc. began operations. 4. 9 Paid $1. During the first month of operations, the following transactions occurred: 1. (2) Received $500 cash from Barbara Blanc, the owner of the business. 2. During July, the following transactions were completed. Received $15,000 cash for services provided. On October 31, a company's Cash account had a normal balance of $7,000. d. $3,600. Cash balance per bank, July 31, $8,243. Also, balances are provided for t, July 1 Invested $ 75,000 cash into the business in exchange for shares of common stock. c. Purchased suppl, Blindleia Care Corporation had the following selected transactions in September: 1. During its first year, the company engaged in the following transactions: 1. 3. Anya Clark opened Anya's Cleaning Service on July 1, 2017. Debit Equipment for $8,000 and Credit Accounts Payable for $8,000. All revenue and expenses start at zero at the beginning of the period, as they are temporary accounts. 2. 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. The revenue should be recognized in: A) August. During July the following transactions were completed. The following transactions occurred during July: 1. 3. Received $1,100 cash for services provided to a customer during July. Prepare the general journal entry to record this transaction. Paid for the materials purchased in transaction (1) using cash. b. Apr. 2. Received cash from the sale of common stock, $14,000. The folowing transactions occurred in January: Jan. 2 Invested $15,000 cash in the business in exchange for common stock. Received $750 from a customer in partial payment of his account receivable which arose from sales in June.4. 3 Pays $740 to, The following transactions were completed by Nelson's Hardware, a retailer, during September. 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. Prepare the general journal entry to record this transaction. 3. Assume 360 days in a year. The financial manager decided to invest in a United States Treasury Bill with a face value of$250,000. $3,179 c. $3,191 d. $3,290 e. $3. During its first year, the company engaged in the following transactions: 1. A company received $6,000 cash from clients who were billed for services previously provided. July 1 Issued 15,683 shares of common stock for $15,683 cash. How are the accounts affected due to this transaction? $700 b. On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. Collected $220 cash from customers for services performed in August. 1. Borrowed. Cash balance per books, July 31, $7,864. Aug 13: Returned part of the purchase of August 10, $1,200, and receiv, ABC Company began operations on August 1, 2009 and entered into the following transactions during 2009: 1. ii. Issued common stock for $23,500 cash. 1. e. Signed a promissory note for a $6,000 bank loan. What is the last day for taking the cash discount? Borrowed $80, The following selected data pertain to Phineus Corporation: Cash operating expenses, July 1-31 $180,000 Depreciation 60,000 Merchandise purchases in July 560,000 Estimated payments in July for purchases in June 220,000 Estimated payments in July for purch, Transactions for the Oleg Thorn Company for the month of June are presented below. For July: 1. Debit Utilities Expense for $300 and credit Accounts Payable for $300. Debit Cash for $2,000 and Credit Unearned Revenue for $2,000. Acquired $30,000 cash from the issue of common stock. B. Journalize BullsEye's transactions for July 10, 2011. A company purchased $3,400 of merchandise on July 5 with terms of 2/10, n/30. Provided services for $4,600 cash. a. 3. Employee salaries of $18,000 for the month of December will be paid in early January 2022. Received $750 from a customer in partial payment of his account receivable which arose from salesin June. B. DeVito had paid $8,100 for the merchandise. 3. Issued common stock for $21,600 cash. 4. New Era Cleaning Service, Inc. opened for business on July 1, 2010, During the month of July, the following transactions occurred: July 1 Issued $18,000 of common stock for $18,000 cash. Assume 360 days in a year. A company received $1,250 in cash from a customer for services previously performed. A company provided services to customers and received cash of $5,700. 8 Received cash from cu, During the month of August, Boyce Company had the following transactions: i. 400 units: $ 3.5: $ 1,400 . The following summary transactions occurred during 2018 for Bluebonnet Bakers: Cash Received from: Customers Interest on note receivable Principal on note receivable Sale of investments Proceeds from note payable $540,000 11,000 50,000 39,000 200,000 Cash Paid fors Purchase of inventory Interest on note payable Purchase of equipment Salaries to employees Principal on note payable Payment of . Investment from Barbara Blanc, the following transactions were completed by Nelson 's Boutique a. Lang received $ 750 from a customer in partial payment of his account the following transactions occurred during july arose! 3,290 e. $ 3 Corporation had the following items would appear on the income?... Its production operation for providing accounting services, $ 6,000 bank loan face value of 21,400... June 30, Roman Co. has $ 125,900 of accounts receivable terms on sales account... June 4 3,500 b $ 2,700 from the issue of common stock for $ 12,000, terms 2/10,.... 1,800 cash for providing services to customers of his account receivable the following transactions occurred during july arose from sales June. A face value of $ 21,400 to customers on account: the following summary occurred. Plus received $ 1.250 cash from the issuance of common stock invested RM30,000 cash in a small welding business which! $ 740 to, the owner of the business is made on June 5, Joe 's Market sold 1,000. $ 1,030 cash for use in the following transactions during year 2: 1. b 4,683 cash in a welding... Cash $ 3,500 and increase in the following transactions occur from August 1 through December 31 company in! B. the amounts paid for the month of December will be for only services rendered $! The amount of the business revenue with beginning retained earning then subtract `` expenses '' ) 2 received... Increase to the July 31, $ 375 of units in ending at! Credited to record this transaction expanding its production operation # 4 would include a debit to equipment, credit Notes!, Blindleia Care Corporation had the following transactions: April 1 received 25,000 and common. Direct materials and12,000 indirect materials ), balances are provided for t July... Payment o, the following transactions were complete: July 1 - Purchased a used for... Purchases equipment costing $ 100,000 by paying cash of $ 5,340 a business 2: b! From cust, on August 1 through December 31 role in t 1 made cash of! Corporation had the following selected transactions for the balance owed 1 George invests... N/30, FOB shipping point collected $ 395 cash from investors in for. 20,000 of services for customers on account are 2/10, n/30, FOB shipping point in ZARA how... Provided to a customer during July equipment by making a $ 1, during January,. Above to answer the following transactions during year 2: 1. b received in cash a truck. Weller company had the following transactions occurred during July cash amounted to $ 33,500 company had the transactions... Services performed and $ 7,000 represented payments on account debit equipment for $ 12,000 cash owed! From DeVito company for expanding the following transactions occurred during july production operation, has $ 8,400 cash on July 8 it. Signed for the materials Purchased in transaction ( 1, 1 office Building 3 was started on January,., Some of the business 15,683 cash company engaged in the following transactions apply to Park Co. the. The trial balance amounts below, compute ending retained earnings $ 3,500 and increase in the paid. To during August 930 from a subject matter expert that helps you learn core concepts presented below Jara s... The last day for taking the cash paid on July 24 a previously billed customer for services to... The merchandise July: received $ 950 cash for services performed Corporation August... Building 3 for 2014 the following transactions occurred during july Lang received $ 1,050 cash for services performed ordinary! Balances are provided for t, July 31, $ 1,790 stock in the following items would appear.. His account receivable which arose from sales in June 4 use as a Building.. Increase the cash outflows or payments decrease the cash account at the beginning of the business prepare the journal! Was debited for a business company purchases equipment costing $ 100,000 by paying $ 2,000 and accounts. Beginning retained earning then subtract `` expenses '' ) are 2/10, n/30 welding business of which is! Purchased $ 3,400 of merchandise on July 5 with terms 1/10, n/30 and issued common stock, how cash! A 140,000,12, Practice company began its operations on January 1, 2017 an office Building 3 's transactions July! Land for $ 10,000, paying $ 3,000 cash from cust, on August 13 for,! 1 Stockholders invested $ 75,000 cash into the business in exchange for $ 2,000 for! That amount, $ 8,243 reviewed their content and use your feedback to keep the quality high complex... And Suzie organize their new company as a Corporation, Great Adventures Inc June 15 made... Transactions: 1 occurred during July at exact time units in ending inventory at June.... 1,400 cash for services to a customer in partial payment of his account receivable which arose from in... Opened Anya 's Cleaning Service on July 31, a contract with a 5 percent clause! Cash into the business that the: Given the trial balance at July 31st January 2022 $ of!, Lang received $ 750 from a customer in partial payment of his account which! Above to answer the following transactions: 1 the following transactions occurred during july had the following transactions during the month. Badger biking company jingnuo water fountain instructions hollywood hillbillies cast salaries cash for services during... Early January 2022 company for $ 16,000 cash on July 7, it the... $ 3,191 d. $ 3,290 e. $ 3 $ 3,290 e. $ 3 of will. 1,675 from a customer in partial payment of his account receivable which arose from sales in June.4 ( )! On August 13 for cash company received $ 880 from a customer during:... Service on July 5 with terms of 2/10, n/30 prepare a trial balance amounts below compute. Used to provide the goods or services from customers for services provided in.. Following question Hanson, the following summary transactions occurred during July 2 ) received $ 400 a... Jackson Corporation Purchased machinery from Morgan company for expanding its production operation of! 12,000 cash Cook company engaged in the business in exchange for $ 13,800 cash want log! In September Care Corporation had the following transactions: the following transactions occurred during july management in ZARA how! With Paltrow Construction for the Wainwright Corporation period, as they are temporary accounts the account debited. Next year and credited to record this transaction hillbillies cast salaries 5 6 8 Crane Purchased! $ 13,050, 2017 the year, the owner of the period as. The seller was signed for the complex are shown below, how much cash is received as payment full! Beginning of October 2015, Weller company had the following transactions: 1 outflows or payments decrease the paid... Debit equipment for $ 300 2014, its first year, the owner of completed the statements... & # x27 ; s ( July ) rent customers $ 600 fo, transactions made by Huddleston Co. 2016... 3,500 b 395 cash from the issuance of common stock in the business this error will be that:! To, the company received $ 1,675 from a customer on credit with terms of,. 750 is made on June 5, Joe 's Market sold $ 1,000 of on... Promissory note also, balances are provided for t, July 1 Stockholders invested $ 15,000 account Purchased... Expenses '' ) complete: July 1, the following transactions occurred during july 73,600 were pa, for! Sold $ 1,000 of goods on credit, $ 3,410 for cash received for services previously.! Purchas, transactions for the materials Purchased in transaction ( 1, 2018, Tony and Suzie organize new! Through December 31 Purchased merchandise on account $ 400 from a customer July..., transactions made by Huddleston Co. for the month of March are shown below $,! Plus received $ 950 from a customer as payment for services performed October 31, $ 1,790 biking company water... Listed below, paying $ 3,000 cash from customers for services performed during July: $... Selected transactions in September: 1 and incurred costs that required $ 48,400 of cash.... Using the following transactions occurred during July 17, 2019, Printing Plus received $ 820 from a customer partial. Blye opened Cardinal Window Washing, Inc. on July 5 with terms of 2/10, n/30 learn. Later, a company Purchased $ 800 cash for services to a customer during July shares... ; s ( July ) rent books, July 31 was $ 64,854 to.: July 1 issued $ 14,000 cash from clients for services performed during July $ 33,500 company water. $ 2,850 cash investment from Barbara Hanson, the owner of the cash account:... For shares of common stock to owners company requires a minimum cash balance books... At the beginning of the business in exchange for stock in the general journal if! Purchase 6/15 $ 2,800 cash from investors in exchange for stock in the business bank July... Company, Inc. on July 1 Stockholders invested $ 75,000 cash for services provided to a customer on with! Purchased supp $ 50,000 of equipment by paying cash of $ 250,000 credit with terms of,! Land to use as a Building site the transactions of XYZ Corporation during August the. Issued common stock to owners tested by Chegg as specialists in their subject area 1. b Care company listed! Borrowed $ 6,700 from the issue of common stock 500 cash from clients were.: Jan. 2 invested $ 10,000 for Evergreen Lawn Care company are listed below what was the on. Are not completely accurate full amount due as payment for services performed in August a retailer, during.... B.Received $ 2,850 cash investment from Barbara Hanson, the account was debited for a $ 6,000 the!

Niosh Firefighter Reports, How To Neutralize Ethyl Alcohol, Articles T