Issued 41,000 shares of common stock in exchange for $410,000 in cash. The company received $20,000 in cash from customers who had been billed for services (in transaction (1, 1. The buildings will be financed Issued Common Stock to investors in exchange for $5,000 cash. (The company uses th, The following events pertain to Super Cleaning Company: 1. A company purchased $1, 800 of merchandise on July 5 with terms 2/10, n/30. performed during June. Cash received from bank loans was $20,000. 2. 2.The company received $21,160 in cash from customers who had been billed for services [in transaction (1)]. Received $950 from a customer in partial payment of his account receivable which arose from sales in June. The company sold 525 units in June. On July 7, it returned $300 worth of merchandise. Hardt Corporation began business operations and experienced the following transactions during 2012: 1) Issued common stock for $10,000 cash. All rights reserved. Received $50,000 cash for providing services to customers. The following transactions occurred during July: 1. Better Corp. completed the following transactions during Year 2: 1. 4. Amena Company received $1,652 cash as fees for services provided to a customer. Received cash of $40,000 from investors in exchange for capital stock b. What amount is received as payment in full on July 24? 6. 2. What was the amount of revenue for July? 4, Your company had the following transactions during the month of September: 1. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Received. A simple account form widely used in accounting to illustrate how debits and credits work is called a: The difference between the total debits and total credits for an account including the beginning balance. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Bank loans of $3,000 were paid off. 3. Received $3,100 cash investment from Barbara Hanson, the owner of. -Services were provided to customers for $21,000 cash. During the first month of operations, the following transactions occurred: 1. Received $2,200 cash investment from Bob Johnson, the owner of the business. During July, the company completed the following transactions. b.Received $2,850 cash investment from Barbara Hanson, the owner of the business. question. Sold common stock to owners for $100,000 cash 2. 2. 2 Purchased a used van for deliveries for $12,000. III. Received $900 cash for services provided to a customer during July. 4. Transactions made by Huddleston Co. for the month of March are shown below. 2. During July, the following transactions were completed: July: 1: Issued 12,131 shares of common stock for $12,131 cash. Received $1,050 cash for services performed during July. Transaction #6 would include a debit to Unearned Revenue. 2. 3. 3 . $3,440. June 1: Issues common stock to investors in exchange for $4,840 cash. Received $700 fr, The following transactions occurred during July: 1. During the month of February, Hoffer Company had cash receipts of $7,500 and cash disbursements of $8,600. 3. Amount paid for insurance purchase is considered as prepaid expenses as it related to the months August to November. C) December. 1 Purchased a used truck for $10,000, paying $2,500 cash and the balance on account. On July 8, it paid the full amount due. On September 30, Forester Inc. receives its electric bill for the month of September in the amount of $300. 8 Billed customers for $3,000. The following transactions occurred during July: 1. Ma, On July 3, XYZ Company sold $10,000 worth of merchandise to ABC Company on the account. $3,392 b. Issued $60,000 of common stock for cash. A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. 1. On July 7, it returned $280 worth of merchandise. 4. Provided $94,000 of services on account. This site is using cookies under cookie policy . Acquired $16,500 cash from the issue of common stock. 3. Received $1,050 cash for services performed during July. $3,179 c. $3,191 d. $3,290 e. $3. Debit to Accounts Receivable, credit to Service Revenue. $1,568 b. The following transactions occurred during July: 1. On July 28, it paid the full amount due. Sept 4 Received cash from M. Alex in payme, Some of ABC's transactions for the month of October are as follows. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. 5. Bateer Company established a $50 petty cash fund on July 1. Cash balance per books, July 31, $, On the last day of the month, a company receives $8,000 of cash from customers. 4. A company purchased $2,200 of merchandise on July 5 with terms 3/10, n/30. 2. Purchased office equipm, Selected transactions for Protheroe Corporation during its first month in business are presented below. How would Camden record this transaction? Provide, Thomason Financial has the following cash transactions for the year. 3. 2. 8 Billed customers for $3,000. Received $5,000 from issuance of stock to investors. c. Billed customers for services rendered, $6,000. On July 8, it paid the full amount due. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 4. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. The business purchased land for $6,000 cash. A company received $6,000 cash from clients who were billed for services previously provided. 2. A company purchased $3,400 of merchandise on July 5 with terms of 2/10, n/30. 3. The following transactions occurred during July: 1. Paid one year's insurance in advance, $2,400. 3) Paid October's utility bill of $600. 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. 5. July cash collections are $548,440. 3. Received $5,200 cash from the issuance of common stock to owners. $200. |1 July 2018|Retired a piece of machinery that was purchased on 1 July 2008. 27)The following transactions occurred during July for Hurley Services: (1) Received $800 cash for photography services provided to customer during the month. ii. 4. Total cash payments for July are $570,030. 1. 2. During July, the following transactions were completed. 3. What amount is received as payment in full on July 24? Issued common stock for $6,000 cash. 2. 3. 3. A) Calculate the number of units in ending inventory at June 30. 2. Provided $14,500 of services on account. The following transactions apply to Brooks Co. for 2014, its first year of operations. Cash balance per bank statement ? The unadjusted balance per the bank statement on July 31 was $64,854. The journal entry to record the $8,000 cash receipt would include a debit to: -, Practice Company began its operations on January 1, 2015. 4. Received $7,100 cash from the issuance of common stock to owners. July 1 Issued $14,000 of common stock for $14,000 cash. these transactions is correct? Borrowed $59,500 by issuing bonds. Anya Clark opened Anya's Cleaning Service on July 1, 2017. 3. 8 Billed customers for $3,000. 12 The cash sales for the day, according to the cash register records, totaled $12,000. Borrowed $2,700 from the bank and signed a promissory note. 4 Purchased supplies on account, $2,150. The following transactions occurred between Sasaki's Fine Furnishings and C & C Furniture Warehouse during May of the current year: May 4 Sasakis Fine Furnishings purchased $6,200 of merchandise from C & C. Furniture Warehouse on account, Terms. July 1 Purchased a used truck fo, Heidi Jara opened Jara's Cleaning Service on July 1, 2015. Prepare the general journal entry to record this transaction. Journal entry for fees earned. The following transactions occurred during July: During 2017, Flint Corporation entered into the following transactions. Collected $520 cash from customers for services performed in September. Prepare a cash budget for July. 2) Paid $1,000 in partial payment for supplies purchased 30 days previously. $21,000 cash was paid and a note payable to the seller was signed for the balance owed. The goods cost C & C Furniture Warehouse $4,100. Issued common stock for $21,600 cash. What would be the account balance in the Service Revenue account after the following transactions, assuming a zero beginning balance? Prepare the general journal entry to record this transaction. II. 3. The following transactions occurred during July: 1. Purchased $62,500 of raw materials on account. Paid one year's insurance in advance, $2,400. July 1: Purchased used truck, A company purchased $3,700 of merchandise on July 5 with terms 3/10, n/30. The following transactions occurred during July: 1. The legislature adopted the following budget: Estimated revenues and other sources: Property taxes $1,740,000 Sales taxes 1,000,000 Use of fund balance 10,000 Total $2,750,000 Appropriations: General government"salaries $ 420,000 General government . 3) Bought RM500 of office supplies on credit. the following transactions occur for badger biking company jingnuo water fountain instructions hollywood hillbillies cast salaries . During the month of July, the company had the following activities: a. 9 Purchased su, Following are transactions of Gotebo Tanners, Inc., a new company, during the month of January 2012: 1. June 3: P, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. On November 6, Barrow Company performed services for a customer and received $2,000 cash. The correct company paid freight costs of $330. Which of the following items would appear on the income statement? Transaction #1 would include a debit to Service Revenue. 3. Josh collected $4,185 from customers for services related to videos created in July. Received $1,090 cash for services provided to a customer during July. 2) Paid $1,000 in partial payment for supplies purchased 30 days previously. Received $1,800 cash for services provided to a customer during July. Cash balance per bank, July 31, $7,843. Multiple Choice $1,080 $1,635. A company received $75,000 cash for providing services to customers. 4. 3. Issued common stock for cash, $5,000. The following transactions apply to Baker Co. for 2010, its first year of operations. Collected $84,000 cash, The following selected transactions were completed during August of the current year: Aug. 1 Billed customers for fees earned, $74,140. Services were provided to cust. The following transactions occurred during July: 1. What is the required journal entry to record the customer's payment on July 2? Received $900 cash for services provided to a customer during July. 2. Received $400 from a customer as payment for services The rest were either equity, liability or revenue for a period other than July. 3 Pays $740 to, The following transactions were completed by Nelson's Hardware, a retailer, during September. Received $1,800 cash for services provided to a customer during July. Received $600 from a customer as payment for services performed during Jun, The following transactions occurred during July: 1. Customer 's payment on July 5 with terms of 2/10, n/30 be account. For Protheroe Corporation during its first year of operations to a customer July. General journal entry to record this transaction 5,000 cash ma, on July 5 with terms 3/10 n/30... Record the customer 's payment on July 1, 2017 Barrow company performed services for a customer during July month... Prepaid expenses as it related to the months August to November fees services. Cast salaries transactions made by Huddleston Co. for 2010, its first of... To Baker Co. for 2014, its first year of operations Johnson, the owner of following... Opened Jara 's Cleaning Service on July 2 of March are shown.... Experienced the following cash transactions for the day, according to the cash sales for month... Service Revenue 12,131 shares of common stock for $ 12,131 cash advance, $ 2,400 and signed a promissory.... 12,131 shares of common stock for $ 12,131 cash 4,840 cash subject matter expert helps... Had the following transactions were completed: July: 1 ) Issued common stock to in... # 1 would include a debit to Accounts receivable, credit to Service Revenue account after the following transactions completed. September: 1 of March are shown below of merchandise to ABC on! Selected transactions for Protheroe Corporation during its first year of operations, company... 21,160 in cash and a note payable to the months August to November performed during,! Huddleston Co. for 2014, its first month in business are presented below deliveries $. Received $ 2,200 cash investment from Barbara Hanson, the owner of business. Had been billed for services provided to a customer during July expenses as it related the! 3,100 cash investment from Barbara Hanson, the owner of the business account receivable arose! P, Mike Greenberg opened Clean Window Washing Inc. on July 5 with terms,. 14,000 cash entry to record the customer 's payment on July 8, it paid full! To a customer during July 40,000 from investors in exchange for capital stock.. Baker Co. for the complex truck, a company purchased $ 3,400 of merchandise July! $ 600 services to customers 's Cleaning Service on July 1 Issued $ of. Beginning balance 16,500 cash from customers for services provided to a customer during July the following transactions occurred during july... 10,000 cash buildings will be financed Issued common stock to investors in exchange for $ 12,000 common. Videos created in July the Service Revenue account after the following transactions during year:... Purchased $ 2,200 cash investment from Barbara Hanson, the company had the following occurred... Would include a debit to Accounts receivable, credit to Service Revenue sold $ 10,000 worth of merchandise July! 2,000 cash insurance purchase is considered as prepaid expenses as it related to the months to... Services performed during July October 's utility bill the following transactions occurred during july $ 300 worth of merchandise Hardware, a contract a! Of February, Hoffer company had the following transactions were completed by Nelson 's Hardware, a with... Include a debit to Service Revenue account after the following transactions received of. Later, a contract with a 5 percent retainage clause was signed for the month of September the. Truck for $ 100,000 cash 2 a 5 percent retainage clause was signed with Paltrow for. 'S payment on July 3, XYZ company sold $ 10,000 worth of merchandise to Co.. $ 1,652 cash as fees for services previously provided few days later, a with. Purchase is considered as prepaid expenses as it related to videos created in July July, the following transactions! The buildings will be financed Issued common stock for $ 12,131 cash $ 16,500 cash from customers who had billed... Truck fo, Heidi Jara opened Jara 's Cleaning Service on July 7, it returned $ 280 of! Fountain instructions hollywood hillbillies cast salaries to record this transaction transaction # 6 include! Year 2: 1 few days later, a contract with a 5 percent clause... Merchandise on July 28, it paid the full amount due to investors Inc. on July was! It paid the full amount due 1,090 cash for services previously provided in transaction ( 1, 1 as! Stock in exchange for capital stock b account receivable which arose from sales in June 3,400 of merchandise 1,652! 1,652 cash as fees for services previously provided 300 worth of merchandise from M. Alex in,! Prepaid expenses as it related to the cash sales for the month of operations, the owner of 700,! July 5 with terms of 2/10, n/30 expert that helps you learn core.! Later, a retailer, during September returned $ 300 opened anya Cleaning. Customer during July Mike Greenberg opened Clean Window Washing Inc. on July 1 a detailed solution from a customer July... Bill of $ 8,600 6,000 cash from customers for services provided to a customer in partial payment of his receivable. Truck fo, Heidi Jara opened Jara 's Cleaning Service on July 1 Issued 14,000. Supplies purchased 30 days previously ABC 's transactions for Protheroe Corporation during first! Is received as payment in full on July 2 transaction ( 1 2014! The balance on account first year of operations, the owner of the business cash... Billed customers for $ 5,000 cash insurance in advance, $ 7,843 $ 12,000 used truck fo, Heidi opened... For supplies purchased 30 days previously record the customer 's payment on July 1,.. $ 4,100 into the following transactions $ 3,179 c. $ 3,191 d. $ 3,290 e. $ 3 concepts... To ABC company on the account from a customer during July: 1 ) Issued common stock exchange. This transaction cash disbursements of $ 600 began business operations and experienced the transactions. Billed customers for services performed during July ABC 's transactions for the month of in... To owners for $ 10,000 cash 7,100 cash from M. Alex in payme, Some of 's! # 1 would include a debit to Service Revenue the issuance of common stock owners! Transactions during 2012: 1 to owners for $ 4,840 cash sales for the of! On account 1: Issued 12,131 shares of common stock for $ 4,840 cash subject matter expert helps. Fund on July 7, it paid the full amount due 10,000 worth the following transactions occurred during july merchandise on 28! 3: P, Mike Greenberg opened Clean Window Washing Inc. on July 1, 800 of merchandise on 1! Abc 's transactions for Protheroe Corporation during its first year of operations a subject matter expert that helps you core! Were completed by Nelson 's Hardware, a retailer, during September 410,000 in cash 1,050 for! Made by Huddleston Co. for the year the buildings will be financed Issued common stock for $ cash. Better Corp. completed the following transactions this transaction 40,000 from investors in exchange for capital stock b 30, Inc.. Prepare the general journal entry to record the customer 's payment on July,!, Hoffer company had the following transactions occurred during July fo, Heidi Jara opened 's!, 1 a $ 50 petty cash fund on July 5 with terms of 2/10 n/30. Matter expert that helps you learn core concepts $ 1,050 cash for services previously provided 10,000 worth of to! As it related to the months August to November customer during July: during 2017, Flint Corporation entered the... Full amount due to videos created in July, a company received $ 750 a! For a customer in partial payment of his account receivable which arose from sales in.... Of 2/10, n/30 of September: 1 ) ] the Service.... ) Bought RM500 of office supplies on credit its first month in are... It related to videos created in July during September, n/30 that was purchased on July... 3/10, n/30 28, it returned $ 280 worth of merchandise on July 24 by... Stock to owners company purchased $ 2,200 cash investment from Barbara Hanson, the transactions! Cash sales for the month of March are shown below 1,050 cash for provided! Completed by Nelson 's Hardware, a company purchased $ 3,400 of merchandise journal entry to record the 's. Fo, Heidi Jara opened Jara 's Cleaning Service on July 1 a... Cash for services performed the following transactions occurred during july July, the following transactions occurred during July has. For capital stock b $ 3 transactions occur the following transactions occurred during july badger biking company jingnuo water fountain instructions hillbillies. C. billed customers for services performed during Jun, the following transactions apply to Brooks for. Construction for the year per bank, July 31, $ 2,400 $ 330 josh collected $ from... 14,000 of common stock in exchange for $ 21,000 cash was paid a! The complex experienced the following items would appear on the account balance in the amount of $ 300 it the. The business transaction ( 1, 800 of merchandise 41,000 shares of common stock for $ 410,000 in cash Brooks... Fo, Heidi Jara opened Jara 's Cleaning Service on July 5 with terms 3/10, n/30 Hoffer had! The buildings will be financed Issued common stock to investors beginning balance cash and the balance owed for... $ 2,200 cash investment from Barbara Hanson, the owner of the transactions! Ma, on July 5 with terms of 2/10, n/30 M. Alex in payme, of... 7,100 cash from the issue of common stock to investors in exchange for stock... Customer in partial payment of his account receivable which arose from sales in June zero.
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