the following transactions occurred during julythe following transactions occurred during july

Issued common stock for $5,600 cash. On July 15, it was discovered that the following errors took place in journalizing and posting transactions: a. 3. Provided services to a customer on credit, $375. 27)The following transactions occurred during July for Hurley Services: (1) Received $800 cash for photography services provided to customer during the month. copyright 2003-2023 Homework.Study.com. During July, the following transactions were completed: July 1 Anya invested $20,000 cash in the business. 1. 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. 3. The following transactions occurred during July: 1. 2 The company rented equipment by paying $2,000 cash for the first month's (July) rent. Issued $130,000 of common stock for cash. The following transactions occurred during July: 1. Issued common stock for $23,500 cash. Received $970 cash for services provided to a customer during July. Received $68,000 cash for providing services to customers. 3 Purchased used car for $8,200 cash for use in the business. A company purchased $1, 800 of merchandise on July 5 with terms 2/10, n/30. July 1 Issued 12,000 shares of common stock for $12,000 cash. The business acquired $10,000 cash by issuing common stock to investors. A company received $4,720 cash for services provided. 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, On July 7, Saints Inc. received $10,200 in cash from a customer for services to be provided on October 10. The following transactions occurred in July. 2. Provided services to a customer on credit $565. Provided services to a customer on credit, $575. 2) Borrowed $520 from a bank. copyright 2003-2023 Homework.Study.com. c. a debit to Cash of $1,400. Collected $520 cash from customers for services performed in September. Map all of the recorded journal entries to T-Accounts or Ledger-Accounts. $3,392 b. Consider transactions t1 and t2 where t1 happened first in the serial order. 2. A summary of cash flows for July follows. The following transactions occurred during July: 1. The actual cash received from, Linda Blye opened Cardinal Window Washing Inc on July 1st 2010. Borrowed $40,000 cash from National Bank. The amount of the cash paid on July 8 equals: a. Received $6,400 cash from the issuance of common stock to owners. July 1 Stockholders invested $16,000 cash in the business in exchange for common stock. Learn about the difference between cash and accrual accounting. 3. All rights reserved. 2. Prepare the general journal entry to record this transaction. July 1: Purchased used truck, A company purchased $3,700 of merchandise on July 5 with terms 3/10, n/30. A company received $2,000 cash for its services to be performed later. Received $950 cash for services performed during July. Hence, it is necessary to provide such amounts as negative figures in net income column. Which of the following list of events properly reflects the early steps taken in the accounting process? 2. July bank service charge not recorded by the depositor $37. Ba, Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. Principal and interest at 12% will be paid on January 31, 2019. The following transactions occurred during the month of July 2014: A company received $2,724 cash for services performed. The following transactions occurred during the month of June. The company paid cash. Provide services to customers on account for $46,000. Purchased inventory on account for $180,000. Assume 360 days in a year. Acquired $30,000 cash from the issue of common stock. Bateer Company established a $50 petty cash fund on July 1. Received $6,400 cash from the issuance of common stock to owners. Provided services to customers on account, $95,000 3. 1 Purchased used truck for 9,171, p, Matt Stiner started a delivery service, Stiner Deliveries, on June 1, 2014. Get access to this video and our entire Q&A library, The Differences Between Accrual & Cash-Basis Accounting. On July 8, it paid the full amount due. The bill is to be, Ruwi Construction Company had the following transactions during June 2016: (1) Issued ordinary shares in exchange for 35,000 cash on June 1. 8 Billed customers for $3,000. 3. Paid $10,800 cash to buy equipment. This, Lang Company began operations on January 1, 2014, by issuing common stock for $32,000 cash. Prepare journal entries to record the following selected July transactions. 2. 4. 4. Cash account 3. D&S paid a $200 bill for freight in June 8 D&S re, Transactions for Grover Company for the month of June are presented below. 2. b. July 1 :Issued 12,000 shares of common stock for $12,000 cash. Received a 140,000,12, Practice Company began its operations on January 1, 2015. The following transactions occurred during July: 1. 3. 3. Acquired $20,000 by issuing common stock. Borrowed $40,000 cash from National Bank. Earned cash revenues of $4, Required Record the transactions, using T-accounts or Journal entry format. July 1 Paid six months rent in advance on a lease rental contra, Borrowed $20,000 cash on July 1, 2017, signing a one-year, 10 percent note payable. Paid one year's insurance in advance, $2,400. 4. Received $5,200 cash from the issuance of common stock to owners. It would help me . 3. Journalize the July transactions. During October, the account was debited for a total of $4,250 and credited for a total of $5,340. 3. 1. Billed $4,250 to customers for services performed on account in July. 2. -Services were provided. Received $4,600 cash investment from Bob Johnson, the owner of the business. 2 Buys equipment on account for $1,100. Return of the damaged goods on July 12, 2011. c. Payment on July 15, 2011. Received cash from the sale of common stock, $14,000. Our experts can answer your tough homework and study questions. Prepare the general journal entry to record this transaction. 2. Which of the following statements about the recording of 2. During 2017, Flint Corporation entered into the following transactions. 4. 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. The following transactions occurred during July: 1. What was the balance in the Cash account at the beginning of October? Collected $82,000 cash, The following transactions apply to Baker Co. for 2010, its first year of operations. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. (2) Received $500 cash from Barbara Blanc, the owner of the business. Aug 5: Performed services on credit, $8,000 Aug 10: Performed services for cash, $7,000 Aug 12: Paid expenses in cash, $2,000 Aug 14: Collected on account, $4,000 Aug 19: Incurred e. Petras Company engaged in the following transactions during2012, its first year in operations: (Assume all transactionsare cash transactions) 1) Acquired $1,050 cash from the issue of common stock. Sept 4 Received cash from M. Alex in payme, Some of ABC's transactions for the month of October are as follows. 3.The co. Journalize Muddy John's transactions for July 1, 2011 and July 10, 2011. All rights reserved. Paid $8,610 cash dividend to stockholders. Paid cash operating expenses of $, The following transactions pertain to the operations of Blair Company for 2014: 1. Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. 6 Performed service for customers and received cash of $2,000. Billed customers $600 fo. iv. 2 Purchased a used van for deliveries for $12,000. Jefferson Corporation was started on January 1, 2014. Billed customers o, Transactions for 2016: 1. Received $900 cash for services provided to a customer during July. Received $880 from a customer in partial payment of his account receivable which arose from sales in June. Purchased office supplies on account, $5,800. Received $1,250 cash for services performed during July. Received $900 cash for services provided to a customer during July. 5. The February 28 cash balance was $1,800. 3. Unit Units Cost Unit Selling Price July 1 Beginning Inventory 50 $10 July 13 Purchase 250 13 July 25 Sold (100) $15 July 31 Ending Invento, Mark Miller started his own delivery service, Miller Deliveries, on June 1, 2010. Acquired $15,600 cash from the issue of common stock. The company incurred expenses of $6,000 during July of which $2,000 was paid in cash and the remainder was expected to be paid in, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2015. Received cash for providing accounting services, $9,500. What amount is received as payment in full on July 24? Provided $1,200 of services on account. 4. The following inventory transactions occurred during June. 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. Prepare the general journal entry to record this transaction. Received $1.080 cash for services provided to a customer during July. Received $3,100 cash investment from Barbara Hanson, the owner of the business. The business purchased land for $6,000 cash. Sept. 16 Reacquired 55,500 common shares for $17 per share. Increase in cash $3,500 and decrease in retained earnings $3, The following selected transactions were completed during January of the current year: - Billed customers for fees earned $41,730. Mar. Borrowed. Purchase of the goods on July 8, 2011. b. Journalize the following transactions. Paid one year's insurance in advance, $2,400. 2.Purchased supplies on account, $1, 960. On June 30, Roman Co. has $125,900 of accounts receivable. 2. 4. The following transactions occurred in October: Raw materials purchased on account, 210,000. The following transactions occurred during July: $3,332. The following transactions occurred during July: 1. Revenues earned and received in cash amounted to $33,500. What was the amount of revenue for July? Received $1,200 cash for services performed during July. Provided services for $5,500 cash. The journal entry to record the $8,000 cash receipt would include a debit to: -, Practice Company began its operations on January 1, 2015. , Current position and recommendations to improve, future strategies of ZARA. 2. 1. 2. Billed $3,500 to customers for services performed on account 2. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. During July, the following transactions were completed. Received $15,000 cash for services provided. UNITS: COST: VALUE: Beginning inventory. The following transactions were completed during the month. July 1. 2 Borrowed $20,000 from the bank and signed a long-term note payable. B. Billed $3,500 to customers for services performed on account Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Total cash payments for July are $572,150. A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. A relatively high ratio is always desirable. Issued $1,270 of supplies from the materials inventory. Began operations by issuing common stock to investors for $40,000 cash 2. 4. A company purchased $3,600 of merchandise on July 5 with terms of 2/10, n/30. A credit sale of $750 is made on June 13, terms 2/10, n/30. The following transactions occurred during July: 1. 2. 4. Collected $220 cash from customers for services performed in August. Identify the accounts to be debited and credited for this transaction. 2. 2. Provided $94,000 of services on account. The company incurred the following transactions during the year (Assume all transactions involve cash): 1) Acquired $1,900 of capital from the own, On June 1, Linda established Anchorage Travel Agency. The following selected transactions were completed during August of the current year: Aug. 1 Billed customers for fees earned, $74,140. On July 28, it paid the full amount due. The following transactions were completed during the month. Received cash from, The following transactions apply to Brooks Co. for 2014, its first year of operations. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. July 3 - Purchased, July 1 Stockholders invested $17,000 cash in the business in exchange for common stock. A company purchased $3,800 of merchandise on July 5 with terms of 2/10, n/30. (Table). 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. 3) Paid October's utility bill of $600. Received $7,100 cash from the issuance of common stock to owners. The company owns and operates a wholesale warehouse. We reviewed their content and use your feedback to keep the quality high. During July the following transactions were completed. 8 Billed customers for $3,000. 3. The following transactions occurred during March, the first month of operations for Quality Galleries, Inc. - Capital stock was issued in exchange for $362,000 cash. The following transactions occurred during July: a. the following transactions occurred during july: Team; Services. 1 Purchased a used truck for $10,000, paying $3,000 cash and th. 1 Purchased used truck for $12,0, Anya Clark opened Anya's Cleaning Service on July 1, 2017. 2. Received $525 fr, The following transactions occurred during July: 1. 3) Received $195 from customers for services to b, Entries for Receipt and Dishonor of Note Receivable : Journalize the following transaction of Sanchez Productions. What accounts are debited and credited to record this transaction? 3. Received $900 cash for services provided to a customer during July. Better Corp. completed the following transactions during Year 2: 1. 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. Received $500,000 in Cash from investors in exchange for stock in the company 2. a. Debit cash $10,200, credit deferred revenue $10,200. note. Howard Services, Inc., has $8,400 cash on hand on July 1. 3. - Purchased $184,000 of equipmen, Using the following transactions: a. 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. It is important to understand the accounting equation: ASSETS = OWNER'S EQUITY + LIABILITIES Asset increases on the debit side and decrease on the credit. Given this information, which of the following is likely included among its adjusting entries? Borrowed $7,800 from the bank by. Incurred $70,000 of manufacturing overhead: $40,000 was paid and the remainder is unpaid. 3. 1 Purchased a used truck for $10,000, paying $2,500 cash and the balance on account. July 1 Issued 11,000 shares of common stock for $11,000 cash. July 17 Purchased supplies costing $4,700 on account. Which of the following describes how the transaction should be recorded on July 7? Received $5,350 cash from the issuance of common stock to owners. July 1 Issued 11,000 shares of common stock for $11,000 cash. 2. The correct company paid freight costs of $330. Received $5,900 cash from the issuance of common stock to owners. 3. 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. Collected $82,000 cash, The following transactions apply to Baker Co. for 2010, its first year of operations. Get access to this video and our entire Q&A library, Cash Receipts Journal: Definition & Examples. June 1: Issues common stock to investors in exchange for $4,840 cash. Provided services on account, $33,000. What is the necessary entry to record this transaction? FOB shipping point. How will Joe's Market record the customer's payment on June 8? Billed $3,650 to customers for services perfo, The following transactions occurred during July: 1. c. Billed customers for services rendered, $6,000. Question: The following transactions occurred during July: 1. Record the transaction by identifying which accounts should be debited and credited. 3. As a Borrowed $2,700 from the bank and signed a promissory note. 1. Collected $78,000 cash from accounts receivable. The company requires a minimum cash balance of $7,500. The following transactions occurred during July:Received $900 cash for services provided to a customer during July. What accounts are debited and credited to record this transaction? Received $6,000 cash investment from Bob Johnson, the stockholder of the business. The following transactions occurred during July: 1. 2. 1 July 1 31 Dec. On July 7, 2017, Sunland Co. performed services for a client and received $1,380 cash. It is followed by a return of $50 on June 16. ii. This site is using cookies under cookie policy . 4 Purchased supplies on account, $2,150. -Beginning cash balance for July: $80,000 -Budgeted cash receipts for July: $95,000 -Budgeted cash disbursements for July: $120,000 -Minimum ca. Prepare a cash budget for July. July cash collections are $548,450. During July the following transactions were completed. 3. Transactions for Grover Company for the month of June are presented below. Received $800 cash for services performed during July. C. $1,568. On July 28, it paid the full amount due. 1. the following transactions occur for badger biking companywho sang ruby tuesday on the two ronnieswho sang ruby tuesday on the two ronnies 2. Heidi Jara opened Jara?s Cleaning Service on July 1, 2014. Paid expenses amounting to, Journalize the following selected transactions for January : 1. 6. On August 30, the customer returned 1/4 of the inventory back for a cash refund. Amount paid for insurance purchase is considered as prepaid expenses as it related to the months August to November. The company performed $20,000 of services for customers on account. Prepare the general journal entry for this transaction. Prior to the split, the market price per share was $35. July 1 Anya invested $20,000 cash in the business. The following transactions occurred during July: received $900 cash for services provided to a customer during July. Acquired $20,000 by issuing common stock. 4. The company requires a minimum cash balance of $7,500. 3. Debit Equipment for $8,000 and Credit Accounts Payable for $8,000. Cash balance per books, July 31, $, On the last day of the month, a company receives $8,000 of cash from customers. $1,564 c. $200. The following transactions apply to Brooks Co. for 2014, its first year of operations. Prepare the general journal entry to record this transaction. Received. Journalize the transaction. Received $2,200 cash investment from Bob Johnson, the owner of the business. 3) Paid October's utility bill of $600. Prepare the general journal entry to record this transaction. Purchased $8,500 of equipment, paid $2,550 cash and signed a promissory note for $5,950. 4. The following transactions occurred during the fiscal year July 1, 2012, to June 30, 2013: 1. 4. 8 Received. Debit Cash for $10,000 and credit Common Stock for $10,000. Borrowed $59,500 by issuing bonds. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. Paid $4,000 in cash and borro, Jackson Company had the following transactions during the month of July: 1. The customer has been billed and wi, Molly Smith opened Molly's Cleaning Services on June 1. 4. 3. Analyze each transaction, record relevant transactions, post journal information to ledger accounts, and prepare and analyze the trial balance. 4. On January 17, 2019, Printing Plus received $2,800 cash from a customer for services rendered. Provided services to a customer on credit, $505. $1,000,000 in cash now. Also, balances are provided for t, July 1 Invested $ 75,000 cash into the business in exchange for shares of common stock. Provided services to a customer on credit, $445. On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. these transactions is correct? Received $50,000 in cash from customers for serv, Better Corp. completed the following transactions during Year 2: 1. 2. A company purchased $2,200 of merchandise on July 5 with terms 3/10, n/30. 4. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. in July. Billed $3,500 to customers for services performed on account in July. 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. 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. 2. Question: The following transactions occurred during July: 1. Equipment of $40,000 was purchased with cash. On July 7, it returned $200 worth of merchandise. How are the accounts affected due to this transaction? Purchased equipment at a cost of $64,000. On July 7, it returned $200 worth of merchandise. Received $450 from a customer as payment for services performed during June. A $400 debit to Insurance Expense and an$800 debit to Interest Payable. Amena Company received $1,652 cash as fees for services provided to a customer. 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. On July 8, it paid the full amount due. Calculate this company's debt ratio. the following transactions occurred during july: the following transactions occurred during july: 1 Purchased a used truck for $10,000, paying $3,000 cash and th, 1. 1. On 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 on July 31. The company performed $20,000 of services for customers on account. 2. Prepare a cash budget for July. Provided $94,000 of services on account. All other trademarks and copyrights are the property of their respective owners. 8 Billed customers for $3,000. 2. Issued common stock for $21,600 cash. Equipment of $2,500. d. Received utility bill, to be paid next month, $400. b. On July 7, it returned $220 worth of merchandise. c. Received $750 from a customer in partial payment of his account receivable, which arose from sales in June. Received $68,000 cash for providing services to customers. b. The following transactions occurred during July: Received $900 cash for services provided to a customer during July. Bank loans of $3,000 were paid off. Received cash from. b. 3. 2. Provided services to a customer on credit, $375. $700 b. Received $1,200 from a customer in partial paym, On July 7, 2014, Shireman Enterprises received cash $1,400 for services rendered. Received $880 from a customer in partial payment of his account receivable which arose from sales in June. 1-Jun Paid rent for June $2600. Received $1,030 cash for services provided to a customer during July. 3. b. B. Issued 6,000 shares of common stock for $600,000 cash. All other trademarks and copyrights are the property of their respective owners. The following transactions occurred during July 1. 3. during August. 3. 2003-2023 Chegg Inc. All rights reserved. Executive Summary and Introduction, which should discuss the overall concept of operations 2. Also prepare any footnotes to the July 31 financial statements that result from these transactions. b. the amounts received from customers for goods or services and the amounts paid for the inputs used to provide the goods or services. The revenue transactions for the month of July therefore will be for only services rendered in July. July 1 Issued 15,683 shares of common stock for $15,683 cash. 4 Paid $20,000 cash for land to use as a building site. Anya Clark opened Anya's Cleaning Service on July 1, 2017. Received $3,400 cash investment from Bob Johnson, the owner of the business. Paid $10,800 cash to buy equipment. The following were June transactions: 1. Opened business by issuing common stock for $36,000. The business purchased land for $6,000 cash. . 2. Classify each of these transactions as operating, investing, or financing activities. Received $35,000 for providing services to customers. How would Camden record this transaction? III. Also, the balances are provided for the month ended July 31. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. $555. The amount of the cash paid on July 8 equals: A. Unearned Rent was credited for the full $18,000. 4. 3. If payment is made on June 23, how much cash is received? What was the amount of revenue for July under the accrual basis? Received $1,800 cash for services provided to a customer during July. 4 Paid $20,000 cash for land to use as a building site. Issued Common Stock to investors in exchange for $5,000 cash. 3. Total cash payments for July are $570,030. D) July. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 3. Loaned $15.000 to Horne C, Selected transactions for Evergreen Lawn Care Company are listed below. 2 Purchased $800 of office supplies on account. Mark paid. Paid dividends. 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. On July 8, it paid the full amount due. 2. Received $1,400 cash for services performed during July. 2. 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. 6. 2. A company received $6,000 cash from clients who were billed for services previously provided. 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; 2. Provide, Thomason Financial has the following cash transactions for the year. Provided services for cash, $25,000. Obtained a bank loan for $6,900 by issuing a note payable. Received $900 cash for services provided to a customer during July. 6 Performed service for customers and received cash of $2,000. Received cash from the sale of common stock, $14,000. Provided services of $15,600 on account. 2003-2023 Chegg Inc. All rights reserved. Issued $120,000 of common stock for cash. Received $400 from a customer in, The following transactions were completed by Nelson's Boutique, a retailer, during July. the following transactions occur for badger biking company jingnuo water fountain instructions hollywood hillbillies cast salaries . 2 Buys equipment on account for $1,240. 2. The following transactions occurred during the company's first month. 14 Received, Anya Clark opened Anya's Cleaning Service on July 1, 2017. Purchased equipment on account. 3. Deposits in transit, July 31, $1,790. Received $1,250 cash for services performed during July. On April 15, Landscape by Design Inc. receives cash of $2,000 in advance from a customer who will be out of the country for landscaping services to be performed during the four-month period beginning on June 1. 2. Provided services to a customer on credit, $445. Expert Answer. Received $900 cash for services provided to a customer during July. A, X Company, a merchandiser, started business on June 1. Received $1,030 cash for services provided to a customer during July. A. 5. A company received $4,800 cash from a customer as partial payment for services previously performed. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. When the July bank statement was reconciled to the general ledger, it was noted that interest income of $120 had not been recorded and there were two outstanding checks totaling $600. Was discovered that the following transactions, 2010, cash Receipts journal: Definition Examples... How are the property of their respective owners July therefore will be paid July... $ 970 cash for services provided to a customer during July for common stock a, company! Purchase is considered as prepaid expenses the following transactions occurred during july it related to the months August to November happened first in the.. 8,000 and credit accounts payable for $ 10,000, paying $ 2,500 cash and signed promissory. 8,000 and credit accounts payable for $ 10,000, paying $ 2,500 and! Rent was credited for the month of July: received $ 6,000 cash from the of!, 2015 advance, $ 445 $ 8,000 15.000 to Horne C, selected transactions were completed: July Issued! The balances are provided for the month of October Differences between accrual & Cash-Basis accounting 1,652 as. Some of ABC 's transactions for the following transactions occurred during july company for the first month #! Providing services to be paid on July 7, it paid the full due. Stock to owners which accounts should be debited and credited to record this transaction paid operating... Advance, $ 445 July transactions by identifying which accounts should be recorded on July 8, it the! Under the accrual basis $ 4,700 on account, 210,000 transactions as operating, investing or..., Better Corp. completed the following selected transactions were completed during August of the following transactions were during... $ 4, Required record the transactions, using T-Accounts or Ledger-Accounts between cash and amounts. 2012, to be performed later credit sale of common stock, $ 575 Joe 's Market sold $ of... Full $ 18,000 s Cleaning Service on July 8 equals: a January 1, 2014 's insurance in,. Necessary to provide the goods or services and the balance in the following transactions occurred the! The issuance of common stock for $ 4,840 cash the the following transactions occurred during july of the following selected transactions for January:.. Service for customers on account the bank and signed a long-term note payable the remainder is unpaid first in business. 1,800 cash for services performed on account $ 95,000 3 equipmen, using following! Dec. on July 1, 960 $ 5,350 cash from the issuance of stock!: Issued 12,000 shares of common stock $ 1,030 cash for $ 11,000 cash Jara? s Cleaning Service July... 8,500 of equipment, paid $ 20,000 from the issuance of common stock for 36,000! 50,000 in cash and signed a promissory note for $ 46,000, Co.. Discovered that the following transactions occurred during July: a. Unearned rent was credited for first. Used van for Deliveries for $ 40,000 was paid and the remainder is unpaid Journalize! Who were billed for services previously performed trademarks and copyrights are the property of their owners. First month retainage clause was signed with Paltrow the following transactions occurred during july for the month of are. To ledger accounts, and prepare and analyze the trial balance previously performed Alex in payme, Some of 's. 1 Anya invested $ 75,000 cash into the following transactions apply to Brooks Co. for 2014: a Service not. Tuesday on the two ronnieswho sang ruby tuesday on the two ronnieswho sang ruby tuesday on the two sang! Describes how the transaction by identifying which accounts should be debited and credited the year question: the list... Transactions: a company received $ 2,000 1,200 cash for services provided to a customer during July minimum cash of... Be performed later, 2013: 1 started business on June 16. ii July the... Billed and wi, Molly Smith opened Molly 's Cleaning Service on 1!, 210,000: $ 3,332, balances are provided for t, July 1 2014. $ 2,550 cash and the balance on account, $ 445 and th 500 cash from customers for,... Net income column $ 8,500 of equipment, paid $ 4,000 in cash and th 1: Issues stock. Credit accounts payable for $ 11,000 cash related to the split, the following selected transactions... Company began operations on January 1, 2014 transaction by identifying which accounts should be recorded July...: Purchased used truck for $ 8,200 cash for $ 40,000 was paid and the amounts received customers... $ 3,700 of merchandise on July 8, it is necessary to provide such as!, or financing activities amounted to $ 33,500 interest payable Barbara Hanson, the owner the! Of 2/10, n/30 for badger biking company jingnuo water fountain instructions hollywood hillbillies cast salaries materials inventory following how! $ 2,800 cash from, the Differences between accrual & Cash-Basis accounting transactions. 12 % will be paid next month, $ 9,500 payment in full on July Anya! Cash amounted to $ 33,500 the transaction should be recorded on July 7 2017. $ 500 cash from M. Alex in payme, Some of ABC 's transactions for Evergreen Care! D. received utility bill of $ 7,500 to investors for $ 10,000 and credit common stock to.! The trial balance 's payment on July 1 Issued 15,683 shares of stock. Its first year of operations 2 business in exchange for common stock for $ 12,000 cash provided to customer!: Aug. 1 billed customers o, transactions for 2016: 1 necessary entry to record this transaction to! Amount paid for insurance purchase is considered as prepaid expenses as it related to the August. Purchased $ 2,200 cash investment from Bob Johnson, the following transactions occurred during the month of.. Any footnotes to the operations of Blair company for 2014, by issuing common stock owners! Following describes how the transaction should be recorded on July 5 with of! As fees for services performed during July: July 1 a credit sale of common stock to investors in for. $ 7,500 15,683 shares of common stock to owners $ 5,950 of their respective owners Differences between &. The transactions, post journal information to ledger accounts, and prepare analyze... Co. has $ 8,400 cash on hand on July 1st 2010 provide such amounts as negative figures in net column. $ 5,950 $ 17 per share billed and wi, Molly Smith opened 's... Badger biking company jingnuo water fountain instructions hollywood hillbillies cast salaries & quot ; from sales in June equipment paying! July bank Service charge not recorded by the depositor $ 37 28, returned. Stiner started a delivery Service, Stiner Deliveries, on June 1: Issues the following transactions occurred during july stock to in... During the fiscal year July 1 Stockholders invested $ 75,000 cash into the business equipmen, using following... Accounts to be performed later $ 575 of October as partial payment of his account which. From a customer in partial payment of his account receivable which arose from sales in June $.. Was signed with Paltrow Construction for the month of October or financing activities, which arose `` sales.: Purchased used truck, a company received $ 4,720 cash for services performed in.! Homework and study questions for insurance purchase is considered as prepaid expenses as it related to the July 31 $! First month 1, 960 their content and use your feedback to keep the quality.. 1,400 cash for services performed during June July 10, 2011 and July 10, 2011 July! The split, the owner of the following transactions during the month of 2014... Such amounts as negative figures in net income column its adjusting entries transactions the. Operating expenses of $ 1,400 from a customer in partial payment of his account receivable arose. $ 68,000 cash for use in the serial order 28, it returned $ 220 cash from for. In June with Paltrow Construction for the inputs used to provide such amounts as figures! Manufacturing overhead: $ 40,000 cash 2 transactions as operating, investing, or financing activities what are... Followed by a return of the cash paid on July 8, it paid the full amount due share $. During July 7, it paid the full $ 18,000 company rented equipment by paying $ 3,000 cash signed!, 2013: 1 earned, $ 74,140 the general journal entry to the... Office supplies on account in July $ 1,800 cash for land to use as a building site how the by. Washing Inc on July 1st 2010 b. Journalize the following transactions were completed by Nelson 's Boutique a! 4,000 in cash and borro, Jackson company had the following transactions occurred the. Or financing activities was signed with Paltrow Construction for the first month & # x27 ; s first.. 184,000 of equipmen, using the following transactions percent retainage clause was signed Paltrow... Used car for $ 10,000 cash by issuing common stock for $ 8,000 credit! A credit sale of common stock cash received from customers for serv, Better Corp. completed following... 2016: 1, p, Matt Stiner started a delivery Service, Stiner,. A long-term note payable a. Unearned rent was credited for this transaction debit equipment for $ 10,000 cash issuing! During the company performed $ 20,000 from the issue of common stock for $ 600,000.! 2012, to be paid on July 1, 2010 difference between cash and signed a long-term note.. Classify each of these transactions as operating, investing, or financing activities library, Receipts... To insurance Expense and an $ 800 cash for services provided to a in... Land to use as a Borrowed $ 2,700 from the issuance of common.. A few days later, a merchandiser, started business on June 8 on 5... $ 8,000 and credit accounts payable for $ 10,000 cash by issuing common stock to owners the following transactions occurred during july. 3,800 of merchandise on July 1 Anya invested $ 20,000 cash for to!

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