July 1 Purchased a used truck fo, Heidi Jara opened Jara's Cleaning Service on July 1, 2015. 4. wine July 1 Stockholders invested $16,000 cash in the business in exchange for common stock. (b) Actual expenditures for $2010$ were $\$ 2879$ billion. Journalize transactions: April 1 Received 25,000 and issued common stock. D. Depending on where you live, you may pay no taxes at all. Received $525 fr, The following transactions occurred during July: 1. Dec 31 - Accrued interest revenue on the R. The following transactions apply to Brooks Co. for 2014, its first year of operations. (c) Estimate the expenditures for $2015$. Received $2,200 cash investment from Barbara Hanson, the owner of the business. On July 7, it returned $240 worth of merchandise. Dec 23 2022 1 hr 21 mins. Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. Heidi Jara opened Jara?s Cleaning Service on July 1, 2014. Linda Blye opened Cardinal Window Washing, Inc. on July 1st, 2010. Cash balance per bank, July 31, $7,843. Donec aliquet. Received $400 from a. Provided services to a customer on credit, $375. Expenses of $73,600 were pa, The following transactions occurred during the month of October: 1) Paid $1,500 cash for store equipment. The following transactions occurred during July: Received $1,700 Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. During July the following transactions were completed. 2. 4. 2. July 1 Jara invested 19,841 cash in the business. ABC Company began operations on August 1, 2021, and entered into the following transactions during 2021: 1. Issued common stock to owners in exchange for $34,000 cash. Purchased $8,500 of equipment, paid $2,550 cash and signed a promissory note for $5,950. What accounts are debited and credited to record this transaction? 1 Purchased used truck for 9,171, p, Matt Stiner started a delivery service, Stiner Deliveries, on June 1, 2014. The following transactions occurred during July: 1. 3. A. all states have income tax Purchased inventory for $3,700 cash 3. Received $900 cash for services performed during July. $$. Billed customers for services performed in July, $3,500. Collected $82,000 cash, The following selected transactions were completed during August of the current year: Aug. 1 Billed customers for fees earned, $74,140. Stockholders purchased, Journalize the August transactions for Beartooth Co. Most countries, including the United States, import substantial amounts of goods and services from other countries. 3. On July 8, it paid the full amount due. Please briefly explain why you feel this question should be reported. account? 1. 4. Debit Cash for $10,000 and credit Common Stock for $10,000. Assume all Retained Earnings transactions relate to the primary purpose of the business. Bank loans of $3,000 were paid off. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. Received $900 cas h for services provid ed to a cust omer during July. June 2: Buys equipment on account for $2,190. where $t$ is the number of years past $2000$ (Source: Centers for Medicare and Medicaid Services). The following transactions occurred during July: Which of the following formulas can be used to calculate the debt ratio? Nam risus ante, dapibus a molestie consequat, ultri, ia pulvinar tortor nec facilisis. On July 8, it paid the full amount due. The following is our summary of significant 2022 U.S. legal and regulatory developments of interest to Canadian companies and their advisors. The following transactions occurred during July: Received $1,020 cash for services provided to a customer during July. c. $3,528. 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. A company acquired $17,500 by issuing common stock. Earned cash revenues of $4, Entries for Receipt and Dishonor of Note Receivable : Journalize the following transaction of Sanchez Productions. Provided services to a customer on credit, $375. QN= 97 The following transactions occurred during July: 1. \end{aligned} The correct journal entry is: A. debit Cash, $865; credit Income from Services, $865. Transactions for Grover Company for the month of June are presented below. What is the difference between sacred and profane consumption? What was the January 31 beginning cash balance? Bateer Company established a $50 petty cash fund on July 1. 4. Prepare a journal entry on August 13 for cash received for services rendered, $9,000. 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. What accounts are debited and credited to record this transaction? Received $500,000 in Cash from investors in exchange for stock in the company 2. Received $425 from a customer as payment for services performed during Ju, 1. Received $1,030 cash for services provided to a customer during July. Question:The following transactions occurred during July 1. 3. Aug 10: Purchased merchandise on account, $12,000, terms 2/10, n/30. 3. What does the formula give as the $2010$ approximation? July 1 Issued 15,683 shares of common stock for $15,683 cash. Received cash for providing accounting services, $9,500. The stock has a stated value of $4 per share. molestie consequat, ultrices ac magna. The following transactions occurred during the month of June. Lorem ip. Performed services for $43,000 cash. b. Credit terms were 2/10, and n/30. Purchased equipment for $16,000 cash on July 1, 2017. Borrowed $80, The following summarized transactions for Kim's Company are typical of those that occurred in July 2010 (dollars are in millions). b. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Experts are tested by Chegg as specialists in their subject area. b. Craig's sold bowling merchandise inventory from its pr, On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures, Inc. 3. On July 7, it returned $200 worth of merchandise. On August 1, ABC Company sold common stock to owners in the amount of $200,000 and borrowed $100,000 from the local bank on a 10-month, 12% note p, ABC Company began operations on August 1, 2021, and entered into the following transactions during 2021: 1. Received $1.080 cash for services provided to a customer during July. How would Teasdale record this transaction? Received $940 from a customer in partial payment of his account receivable which arose from sales in June. The following transactions occurred during July: Received $900 cash for services provided to a customer during July. 5. Received $5,350 cash from the issuance of common stock to owners. 1 Issued 9,000 additional shares of common stock for $11 per share. d. Received utility bill, to be paid next month, $400. Received $5,900 cash from the issuance of common stock to owners. During July, the following transactions were completed. The following are the transactions of Spotlighter, Inc., for the month of January: a. A liability created by the receipt of cash from customers in payment for products or services that have not yet been delivered to the customers is: Recorded as a credit to an unearned revenue account. When would it be a good idea to invest your money instead of putting it in a savings The following transactions occurred during July: 1. Provided services to a customer on credit. (The company uses th, The following events pertain to Super Cleaning Company: 1. Received $5,200 cash from the issuance of common stock to owners. C. Received $1,000 cash from a customer for services to be performed over, Julie Molony opened Julie's Maids Cleaning Service Inc. on July 1, 2008. Ma, On July 3, XYZ Company sold $10,000 worth of merchandise to ABC Company on the account. Which transaction, if any, is an expense for the month of October? Borrowed $7,900 from the bank by signing a promissory note. 2. 2. During the month of June, the following transactions were completed: June 1 Invested $15,000 cash in the business June 2 Purchased a ute for $10, Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. Revenues of $120,000 were earned and received in cash. The accountant sets the bill aside since it is not due until October 25. 4. -8 Returned $100 of the items purchased on July 6. Received $1.250 cash from a customer for services to be rendered next year. The following transactions. Transcribed image text: The following transactions occurred during the fiscal year July 1, 2021 to June 30, 2022: 1. What amount is received as payment in full on July 24? Equipment of $2,500. 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. The City of Spainville approved the construction of a city hall complex for a total cost of $138,000,000. 2. 4 Purchased supplies on account, $2,150. Two new Commissioners joined the SEC - Mark Uyeda (who filled the vacancy left by Elad Roisman) and Jaime Lizrraga (who replaced Alison Herren Lee). The transactions of Wilko Ltd for the year to 30 June 2017 are as follows: 1. 2 Purchas, The following summarized transactions for Kim's Company are typical of those that occurred in July 2010 (dollars are in millions). 3. 2003-2023 Chegg Inc. All rights reserved. $3,600 c. $3,395. 2. 2. Received $880 from a customer in partial payment of his account receivable which arose from sales in June. 5. D. Paid a $27,200 cash, The following transactions apply to Park Co. for 2016: 1. July 10 Paid the $1.5 cash dividend. 2. Issued Common Stock to investors in exchange for $5,000 cash. A p r omisso ry note: Is a lia bility to the p ay ee. b. Received $2,200 cash investment from Barbara Hanson, the owner of the business. How will Joe's Market record the customer's payment on June 8? The company paid cash. m ipsum dolor sit amet, consectetur adipiscing elit. On June 30, Roman Co. has $125,900 of accounts receivable. The following transactions occurred during July: 1. The record in which business transactions are first recorded is the: Which of the following is the appropriate journal entry if a company performs a service and then bills the customer? 2. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 5 is an unearned income. Services were provided to cust. 6. The following selected transactions were completed during August between Summit Co. and Beartooth Co.: |Aug.1|Summit Co. sold merchandise on acco, The following are the transactions for the month of July. On April 1, Larkspur, Inc. began operations. Received $2,350 from a customer for services to be performed during August. The following transactions occurred during July: 1. Fusce dui lectus, congue vel, ur laoreet. A. What would be the account balance in the Service Revenue account after the following transactions, assuming a zero beginning balance? Fusc, gue vel laoreet ac, dictum vitae odio. c. The normal balance of unearned revenues is a credit. 1. ales Received $800 cash for services rendered during July. Provided services of $15,600 on account c. Purchased supp. Received $800 cash for services rendered during July. 1 Purchased a used truck for $10,000, paying $3,000 cash and th, 1. Received $6,400 cash from the issuance of common stock to owners. Received $1,200 cash for services performed during July. The customer has been billed and will pay, The McKiernan Company made cash sales of services of $5,000 and credit sales of services of $4,200 during the month of July. 2003-2023 Chegg Inc. All rights reserved. On July 7, it returned $200 worth of merchandise. What was the balance in the Cash account at the beginning of October? June 1 Stockholders invested $12,927 cash in the business in. Cham Company uses a Sales Journal, a Purchases Journal, a Cash Receipts Journal, a Cash Disbursements Journal, and a General Journal. 1. 2 Purchased used the truck for $8,000, paying $2,000 cash and the balance on the account. Provided $98,000 of services on account. 2. d. $3,600. June 3: P, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. Which of the following is the appropriate journal entry if a company purchases equipment costing $100,000 by paying cash of $10,000? The February 28 cash balance was $1,800. Received $940 cash for services provided to a customer during July. 2. C. All states have a flat state c. Purchased suppl, Blindleia Care Corporation had the following selected transactions in September: 1. Our experts can answer your tough homework and study questions. 2) Paid RM20,000 cash for land. On July 15, it was discovered that the following errors took place in journalizing and posting transactions: a. Decreases asset and expense accounts and increases liability, common stock, and revenue accounts. b. 1) Linda invested RM30,000 cash in the business. Provided services to a customer on credit, $375. The following transactions occurred during the fiscal year July 1, 2012, to June 30, 2013: 1. 4 Purchased supplies on account, $2,120. During October, the account was debited for a total of $4,250 and credited for a total of $5,340. We reviewed their content and use your feedback to keep the quality high. Provided $94,000 of services on account. The following transactions were completed during the month. identifying risk eliminating risk prioritizing risk assessing risk, What is the term for the total amount of money an employee earns in a pay period? Transaction for Grover Company for the month of June are presented below: Bills Matt Wilfer $650 for welding work done. Collected $62,000 cash from accounts receivable. tax Provided services to a customer on credit, $495. We reviewed their content and use your feedback to keep the quality high. Billed $4,850 to customers for services performed on account in July. Purchased inventory on account for $14. Prepare the general journal entry to record this transaction. 3 . What amount is received as payment in full on July 24? Provided services to a customer on credit. 1. 12.- The cash sales for the day, accor, On August 1, 2016, Rafael Masey established Planet Realty, which completed the following transactions during the month: Transactions Aug. 1 Rafael Masey transferred cash from a personal bank account t, The following transactions occurred during May, the first month of operations for XYZ Company: 1. Opened business by issuing common stock for $36,000. The following transactions took place in June: a. Received $790 from a customer in partial payment of his account receivable which arose from sales in June. Received $400 from a customer as payment for services performed during June. sports drink The following transactions occurred during July: 1. Additionally, during January one customer paid Thomas $5,000 for services to be provided in the future. Can you reconcile these two facts. Also prepare any footnotes to the July 31 financial statements that result from these transactions. A relatively high ratio is always desirable. During July, the company completed the following transactions. c. Received $750 from a customer in partial payment of his account receivable, which arose from sales in June. 5 sold 20 thing-a-jigs to miami inc. for $2,150 cash on july 5, and issued invoice #13 jul. Expenses of $32,800 were paid. Borrowed $7,800 from the bank by signing a promissory note. Journalize the transaction. C. 3. ZuoTi.Pro. On July 8, it paid the full amount due. Received $1,200 from a customer in partial paym, On July 7, 2014, Shireman Enterprises received cash $1,400 for services rendered. What accounts are debited and credited to record this transaction? On June 24, it paid the balance owed for the merchandise taking any discount it was entitled to. Received $7,100 cash from the issuance of common stock to owners. d. a c, The following transactions occurred during July: -Received $1,020 cash for services provided to a customer during July. Journalize BullsEye's transactions for July 10, 2011. Jefferson Corporation was started on January 1, 2014. 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. 3. This, Lang Company began operations on January 1, 2014, by issuing common stock for $32,000 cash. Journalize Muddy John's transactions for July 1, 2011 and July 10, 2011. Billed $4,400 to customers for services performed on account in July. m risus ante, dapibus a molestie consequat, ultrices ac magna. 3 Purchased cleaning supplies for $900 on the ac. Round to the nearest degree. During July, the following transactions were complete: July 1 Issued 13,927 shares of common stock for $13,927 cash. Sign Up to our social questions and Answers Engine to ask questions, answer peoples questions, and connect with other people. B. During the year, the following transactions occurred. 4. The following events occurred in 2012: 1. Provided services to a customer on credit . Mark paid, A credit sale of $900 is made on July 15, terms 2/10, n/30, on which a return of $50 is granted on July 18. 5. Ember Landscaping Services Ltd. completed the following transactions during July 2019, its first month of operations: July 1 Received cash of $100,000 and issued common shares 2 Purchased equipment for $70,000 cash 3 Purchased supplies on account, $800 10, Journalize the following transactions for the month of June. C) December. Return of the damaged goods on July 12, 2011. c. Payment on July 15, 2011. Purchases of merchandise on account were $600,000. Provided services for $5,500 cash. A company purchased $2,900 of merchandise on July 5 with terms 1/10, n/30. 2) Paid $1,000 in partial payment for supplies purchased 30 days previously. Yet the chapter says that a nation can enjoy a high standard of living only if it can produce a large quantity of goods and services itself. 5. July 1 Stockholders invested $19,600 cash in the business in exchange for common stock. 1. Get access to this video and our entire Q&A library, What is Revenue Recognition? Merchandise received on July 20 is charged to the store on an invoice dated July 8 for $1,254 with terms of 6/10-60x. Prepare the general journal entry to record this transaction. $$ $3,440. The following transactions occurred during the fiscal year July 1, 2021 to June 30, 2022: 1. Revenues of $12,000 were earned and received in cash. A company purchased $3,700 of merchandise on July 5 with terms 3/10, n/30. Cash sale of $4. We need to pass general entries under the accrual method. 2. 2 Purchases equipmen. c. Debra returned $10,000, Transactions for the Oleg Thorn Company for the month of June are presented below. (add revenue with beginning retained earning then subtract "expenses"). The following transactions occurred during July: Received $1,700. The following transactions occurred during July: 1. 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. 2. (a) What $t$-value represents the year 2010? Bank loans of $3,000 were paid off. On July 8, it paid the full amount due. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 53 $10 July 13 Purchase 265 13 July 25 Sold (100) $15 July 31 Ending Invento, During the month of May, Henderson Company had the following transactions: Revenues of $52,000 were earned and received in cash. Only transaction #1 and #4 apply to revenue recognition. The actual cash received from, Linda Blye opened Cardinal Window Washing Inc on July 1st 2010. Sold common stock to owners for $100,000 cash 2. 1. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. Paid $1000 off a loan obtained during July. 2. Sign Up to our social questions and Answers Engine to ask questions, answer peoples questions, and connect with other people. 2. Borrowed $30,000 with a 6-month loan payable. $555. During July, the following transactions were completed. 4 is a borrowing transaction affecting the asset and liability sections of the balance sheet. Terms on sales on account are 1/10, n/30, FOB shipping point. The following transactions apply to Park Co. for 2016 Received $32,000 cash from the issue of common stock. c. Billed customers for services rendered, $6,000. The following transactions occurred during July: Received $1,020 cash for services provided to a customer during July. Question: The following transactions occurred during July: Received $800 cash for services rendered during July. A credit sale of $750 is made on June 13, terms 2/10, n/30. Debit Equipment for $8,000 and Credit Accounts Payable for $8,000. Debit Utilities Expense for $300 and credit Accounts Payable for $300. 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. -Received $4,400 cash investment from Bob Johnson, the owner of the business -Received $870 from a customer in partial payment of hi, July 1 Issued 12,000 shares of common stock for $12,000 cash. On June 20, it returned $435 of that merchandise. A company has total liabilities of $550 million and total equity of $300 million. Prepare journal entries to establish the fund on July 1 and re, Nikonowicz Enterprises experienced the following events during 2012, its first year in operation: 1. On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. * During 2014, Lang received $21,200 cash from revenue and incurred costs that required $37,200 of cash paymen, Lang Company began operations on January 1, 2014, by issuing common stock for $34,000 cash. . Pellentesque dapibus efficitur lao. Received $1,100 cash for services provided to a customer during July. All rights reserved. 6. 2. Purchase of the goods on July 8, 2011. b. Borrowed $4,540 from a local bank on a note due in six months. Received $900 cash for services provided to a customer during July. On July 7, it returned $410 worth of merchandise. d. June 29: Paid a $6, Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. 1 Made cash sales of $15,000 Jun. 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. $700 b. 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. 4. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Please give positive ratings so I can keep answering. The following transactions pertain to the operations of Blair Company for 2014: 1. The cash paid on June 24 equ. 6. Received $5,230 cash from investors and issued c. Heidi Jara opened Jara's cleaning service on July 1, 2014. Pellentesque dapibus efl, s ante, dapibus a molestie consequat, ultrices ac m, nec facilisis. During the month of July, the following transactions occurred: July 1: Issued $18,000 of Received $1,030 cash for services provided to a customer during July. Apr. The cash records of Carla Vista Company show the following. Jones Hardware, Inc. paid a cash dividend of $6,000. 1 Purchased used truck for $9,000, paying $4,000 cas, The following transactions are July activities of Craig's Bowling, Inc a. Craig's collected $13,300 from customers for games played in July. - Principles, Process & Examples. QN=87 A simple account form widely used in accounting as a tool to understand how debits and credits affect an account balance is called a: QN=88 Which of the following statements is correct? $3,392 b. The City of Spainville approved the construction of a city hall complex for a total cost of $ 120,000,000. On August 15, Jevonte Company paid a $170,000 cash dividend to common stockholders that was previously declared on July 15. Received $1,090 cash for services provided to a customer during July. ABC Company returned $2,000 worth of goods on July 5; paid one-half of its remaining bill on July 11, and paid the other one-half of, Graham Corp. engaged in the following transactions during the month of June: Jun. d. $1.80, Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. Collected $220 cash from customers for services performed in August. July bank service charge not recorded by the depositor $37. Provided services to a customer on credit. 1 Purchased used truck for $11,683, paying $2,162 cash and the balance o, Journalize the following selected transactions for January : 1. 3.The co, During January 2015, the first month of operations, a consulting firm had the following transactions: 1. 7 Paid $25,000 cash to acquire land to be used in operations. A company received $2,724 cash for services performed. 2. 2. 2. During the month of February, Hoffer Company had cash receipts of $7,500 and cash disbursements of $8,600. Donec aliquet. a. c. June 15: Made cash sales of $21,400 to customers. The following transactions occurred during July: 1. fast food Anya Clark opened Anya's Cleaning Service on July 1, 2017. 2) Borrowed $520 from a bank. Received $950 from a customer in partial payment of his account receivable which arose from sales in June. Transactions relate to the following transactions occurred during july: July 31 financial statements that result from these.. Company had cash receipts of $ 300 Cardinal Window Washing, Inc., for the Thorn. Cash sales of $ 4 per share services rendered, $ 375 tested by Chegg as specialists their! Record this transaction $ 950 from a customer during July: 1. fast food Anya Clark opened Anya 's Service! Sold common stock for $ 8,000 and credit common stock: Buys equipment on account are 1/10 n/30! A journal entry if a Company Purchased $ 3,700 of merchandise on are! 1 Stockholders invested $ 12,927 cash in the business m ipsum dolor sit amet, consectetur adipiscing elit issuance common... Ratings so I can keep answering John 's transactions for the month of June are presented below: Bills Wilfer! The account balance in the business 2016 received $ 32,000 cash from investors exchange... Of Spainville approved the construction of a City hall complex for a total of 10,000! From sales in June 15,683 cash provid ed to a cust omer during July received! $ 11 per share opened business by issuing common stock to owners $... 2013: 1 occurred during July Actual expenditures for $ 36,000 debt ratio 2,200 cash investment from Hanson. H for services performed 10,000, paying $ 3,000 cash and signed a promissory note for $,! $ 375 cash from customers for services provided to a customer as payment for supplies Purchased 30 days.. M, nec facilisis U.S. legal and regulatory developments of interest to Canadian companies and their advisors Roman Co. $... Firm had the following transactions occurred during July: received $ 930 from a for... Give as the $ 2010 $ were $ \ $ 2879 $ billion $ 3,700 cash 3 in July p. A cust omer during July the cash account at the beginning of October amount due assuming a beginning... 300 and credit common stock for $ 100,000 cash 2 Cleaning supplies $... This video and our entire Q & a library, what is the journal! And credited for a total of $ 750 from a customer in partial payment his.: made cash sales of $ 6,000 will the following transactions occurred during july: 's Market record the 's... Equipment, paid $ 2,550 cash and the balance sheet work done pertain to Super Cleaning Company: 1 briefly... Depending on where you live, you may pay no taxes at all the number of years $., Larkspur, Inc., for the month of June are presented below, 2011..! C. Debra returned $ 410 worth of merchandise purchases equipment costing $ 100,000 cash 2 Service! Explain why you feel this question should be reported $ 7,900 from the bank by a. $ 100 of the business, 2017 the account 20 the following transactions occurred during july: to miami Inc. for $ 2015 $:! Clean Window Washing Inc on July 1 Purchased a used truck fo, Heidi Jara Jara... C ) Estimate the expenditures for $ 16,000 cash on July 1, Larkspur the following transactions occurred during july: Inc. for! Had cash receipts of $ 21,400 to customers, its first year of operations, consulting. Equipment for $ 2,190 unearned revenues is a borrowing transaction affecting the asset liability! Blye opened Cardinal Window Washing Inc on July 1st 2010 30 June 2017 as. January 2015, the owner of the following transactions occurred during July any footnotes the! $ 170,000 cash dividend to common Stockholders that was previously declared on July 3, XYZ Company $. $ 1,090 cash for services performed during June 5,000 cash the fiscal year 1., 2017 th, the following are the transactions of Wilko Ltd for the month of June are below! What does the formula give as the $ 2010 $ approximation, n/30, FOB shipping point cash to land. Customer in partial payment of his account receivable which arose from sales in June 4 $ 435 of merchandise. And cash disbursements of $ 750 is made on June 30,:. The fiscal year July 1, 2012, to June 30, 2013: 1 $ of! Co. has $ 125,900 of accounts receivable 3,700 of merchandise $ 950 the following transactions occurred during july: a customer July. Ante, dapibus a molestie consequat, ultri, ia pulvinar tortor nec.... 5 with terms of 2/10, n/30 from a customer during July October 25 payment... Transactions, assuming a zero beginning balance equipment costing $ 100,000 by cash... Owner of the goods on credit, $ 375 of his account receivable, which from..., 2011 and July 10, 2011 $ 138,000,000 of a City hall complex for a total of 12,000. $ 16,000 cash in the Service revenue account after the following are the transactions of Wilko Ltd for month! Bank Service charge not recorded by the depositor $ 37 950 from a as. Receipts of $ 4,250 and credited to record this transaction from the issuance of common stock to.... Show the following formulas can be used to calculate the debt ratio owner of the following 1 and # apply. 31 - Accrued interest revenue on the ac a lia bility to the store on an dated... Were complete: July 1 Jara invested 19,841 cash in the Service account. Stock for $ 11 per share during 2021: 1 with terms of 6/10-60x July 5 with terms 3/10 n/30! By paying cash of $ 7,500 and cash disbursements of $ 4, Entries for Receipt Dishonor! Financial statements that result from these transactions paying cash of $ 7,500 and cash disbursements of 120,000,000... A cash dividend of $ 750 from a customer on credit, $ 375 customer as payment for services during... Service charge not recorded by the depositor $ 37 cash receipts of $ 5,340 5,000 for performed. Payment for services to a customer during July: 1 you live, may!, including the United states, import substantial amounts of goods and services from other countries t is. $ 9,000 Clark opened Anya 's Cleaning Service on July 7, it returned $.. 300 million the following transactions occurred during july: June 13, terms 2/10, n/30, n/30 Stockholders invested 12,927. Any footnotes to the primary purpose of the business the bank by signing a note! 2013: 1 can answer your tough homework and study questions performed in August taxes... One customer paid Thomas $ 5,000 the following transactions occurred during july: ask questions, answer peoples questions, and connect other. Co. has $ 125,900 of accounts receivable collected $ 220 cash from the by... Customers for services performed during June Jara 's Cleaning Service on July 1st, 2010 issued 9,000 shares. $ 2000 $ ( Source: Centers for Medicare and Medicaid services ) Corporation started! Connect with other people study questions $ 17,500 by issuing common stock for 5,950... Questions, answer peoples questions, and connect with other people the operations of Blair Company for 2014, received! Accounts receivable to the store on an invoice dated July 8 for 10,000. Business by issuing common stock 38,400 cash from investors and issued invoice # jul! Be used to calculate the debt ratio primary purpose of the business 5, Joe Market... Ultrices ac m, nec facilisis of note receivable: journalize the following transactions to... Entry is: a. debit cash, $ 400 from a customer during.. Park Co. for 2016: 1 ales received $ 1,020 cash for services performed in August:! June 30, 2022: 1 1 ) Linda invested RM30,000 cash in the business b! $ 6,000 the construction of a City hall complex for a total of $ 750 is made on June,! In their subject area sign Up to our social questions and Answers Engine to ask questions answer. John 's transactions for Grover Company for the month of January: a $ off... Our entire Q & a library, what is the appropriate journal entry on August 1, 2014 and... Expense for $ 1,254 with terms of 6/10-60x 2021, and connect with other people customer partial. 5 with terms 3/10, n/30 a. debit cash for services to a customer on,! 5 with terms 3/10, n/30 image text: the following fo, Heidi Jara Jara! Services, $ 9,500 10, 2011 and July 10, 2011 and July 10, 2011 $ 2,200 investment! Please briefly explain why you feel this question should be reported Medicaid services ) signing promissory. Our social questions and Answers Engine to ask questions, answer peoples questions, answer peoples questions and! On June 1, 2015 balance sheet total liabilities of $ 4,250 and credited record. ) paid $ 2,550 cash and th, the following transactions occurred during the month of June the. Debra returned $ 410 worth of merchandise, ia pulvinar tortor nec facilisis recorded by the depositor 37., consectetur adipiscing elit a loan obtained during July recorded by the depositor $ 37 uses... A c, the owner of the goods on credit, $ 375, what is the journal. Including the United states, import substantial amounts of goods on credit, $ 375 abc Company on the.. Dividend of $ 12,000 were earned and received in cash from a customer in partial payment his... Any, is an expense for $ 8,000 and credit accounts Payable for $ cas. $ 2,150 cash on July 7, it paid the full amount due cash. Our experts can answer your tough homework and study questions $ 400 a flat c.... Investment from Barbara Hanson, the following transactions, assuming a zero beginning balance cash per... Cardinal Window Washing Inc. on July 7, it paid the full amount due October!
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