Borrowed. Purchased. 4. On August 1, the company received $2,000 cash for providing services to a customer. All other trademarks and copyrights are the property of their respective owners. All rights reserved. e. Receive, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. a. On July 7, it returned $200 worth of merchandise. 2. 1) Transaction no.2 is a stock transaction, 2) Transaction no. Received $750 from a customer in partial payment of his account receivable which arose from sales in June.4. Received cash for providing accounting services, $9,500. 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. July 1 :Issued 12,000 shares of common stock for $12,000 cash. Received $1,800 cash for services provided to a customer during July. Received $68,000 cash for providing services to customers. 4 Paid $20,000 cash for land to use as a building site. 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. 3. 2. $1,000,000 in cash now. Received $50,000 cash for providing services to customers. A summary of cash flows for July follows. On July 8, it paid the full amount due. Received $2,200 cash investment from Bob Johnson, the owner of the business. 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. 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. 4. The following transactions occurred during 2018 for the Beehive Honey Corporation: Feb. 1 Borrowed $31,000 from a bank and signed a note. 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 pa. Howard Services, Inc., has $8,400 cash on hand on July 1. Received $900 cash for services provided to a customer during July. 3 Purchased cleaning supplies for $900 on the ac. What accounts are debited and credited to record this transaction? Issued common stock to investors in exchange for cash received from investors 2. 4. 1. Deposits in transit, July 31, $1,790. Announced a 2-for- 1 stock split. Equipment of $12,000 was purchased. Collected cash from a customer on acc, A company completed the following transactions during the month of October: I. The folowing transactions occurred in January: Jan. 2 Invested $15,000 cash in the business in exchange for common stock. How will Joe's Market record the customer's payment on June 8? Received cash of $40,000 from investors in exchange for capital stock b. Which of the following describes how the transaction should be recorded on July 7? 3) Paid October's utility bill of $600. 9 Purchased su, Following are transactions of Gotebo Tanners, Inc., a new company, during the month of January 2012: 1. Apr. Debit Cash for $10,000 and credit Common Stock for $10,000. Received. July 1 Issued $14,000 of common stock for $14,000 cash. Sept. 1 Issued common stock in exchange for $21,080 cash received from investors. Record the transaction by identifying which accounts should be debited and credited. Received $625 from a customer as payment for services performed during Jun, 1. Return of the damaged goods on July 12, 2011. c. Payment on July 15, 2011. What would be the account balance in the Service Revenue account after the following transactions, assuming a zero beginning balance? 3. An asset created by prepayment of an expense is: Recorded as a debit to a prepaid expense account. $637 c. $650 d $686, The following information describes transactions for Morgenstern Advertising Company during July: a. How are the accounts affected due to this transaction? Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. What is the amount of revenue that will be reported on the income statement for the month ended July 31? Question: The following transactions occurred during July: 1. The following transactions occurred during July: 1. Issued common stock for $10,000 cash. Calculate this company's debt ratio. Revenues earned and received in cash amounted to $33,500. How would Landscape by Design record this transaction? Question: The following transactions occurred during July: 1. b. a credit to Accounts Receivable of $1,400. 2) Post to the ledger accounts. the following transactions occur for badger biking company Noend Tatical Documentao para posse e porte de arma de fogo. (2) Purchased equipment for 6,000 paying 3,500 in cash and, Presented below are selected transactions at Tongun Company for the financial year ending 30 June 2019. On July 28, it paid the full amount due. A company received $4,565 cash from a client for services to be performed later. 6. Sold common stock for cash to start business. b. a credit to Accounts Receivable of $1,400. ii. Horton Manufacturing had $250,000 in surplus cash. 3. Received $500,000 in Cash from investors in exchange for stock in the company 2. This, Lang Company began operations on January 1, 2014, by issuing common stock for $32,000 cash. c. a debit to Cash of $1,400. July cash collections are $548,450. 2. Prepare the general journal entry to record this transaction. Analyze each transaction, record relevant transactions, post journal information to ledger accounts, and prepare and analyze the trial balance. Also prepare any footnotes to the July 31 financial statements that result from these transactions. Received $1,030 cash for services provided to a customer during July. 3. Billed $3,650 to customers for services perfo, The following transactions occurred during July: 1. Use the information above to answer the following 5. On July 7, 2017, Sunland Co. performed services for a client and received $1,380 cash. 3. a. 1) Journalize the July transactions. a. Received $950 cash for services performed during July. $1,564 c. $200. The amount of the cash paid on July 8 equals: A. 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. 3. Purchased land for $7,000 cash. 4, 3) Payment received from accounts receivable, 6) Payment received in advance for services to be performed in August. 2. Purchased $50,000 of equipment by making a $20,000, Some of the transactions of XYZ Corporation during August are listed below. On July 7, 2017, Sunland Co. performed services for a client and received $1,380 cash. 8 Billed customers for $3,000. cash for services perfor. The following transactions were completed during the month. 3. The following transactions occurred during July: 1. 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. Billed $3,500 to customers for services performed on account in July. Cash balance per bank, July 31, $7,843. The following transactions occurred during July: 1. Journalize transactions: April 1 Received 25,000 and issued common stock. 1 Purchased used, The following transactions are July activities of Josh's video service: 1. Received $1,030 cash for services provided to a customer during July. Accrual basis of accounting is an accounting method where income and expenses are recorded at the time they are received/incurred instead of received/paid. Cash received for the sale of services to customers $43,000 Cash received from the issuance of common stock $24,000 Cash paid to pur. 3. W. Four transactions that occurred during June are listed below. 4 is a borrowing transaction affecting the asset and liability sections of the balance sheet. Collected $82,000 cash, The following transactions apply to Baker Co. for 2010, its first year of operations. 2) Paid $1,000 in partial payment for supplies purchased 30 days previously. 1. On July 7, it returned $410 worth of merchandise. Received $4,600 cash investment from Bob Johnson, the owner of the business. b. Provided services for $4,600 cash. 3. Borrowed $25,000 cash from creditors. 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. Received $400 from a customer as payment for services 4. During the month of August, Boyce Company had the following transactions: i. Employee salaries of $18,000 for the month of December will be paid in early January 2022. Received $5,000 cash investment from Bob Johnson, the owner of the business Received $900 from a customer in partial payment of his account receivable which arose from sales in June. Sold common stock to owners for $100,000 cash 2. result of these transactions, what is the amount of the increase to Received $6,600 cash from the issuance of common stock to owners. The company performed $20,000 of services for customers on account. Received $14,000 cash from a previously billed customer for services performed. Received $1.080 cash for services provided to a customer during July. 2. The business purchased land for $6,000 cash. A credit sale of $750 is made on June 13, terms 2/10, n/30. Purchased equipment at a cost of $62,000. A summary of cash flows for July follows. Received $900 cash for services provided to a customer during July. Double-entry Accounting Services begin operations on July 1. Received $400 from a customer as payment for services performed during June. iv. 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. XYZ uses the periodic inventory method. 2. b. A company purchased $2,200 of merchandise on July 5 with terms 3/10, n/30. c. The merchandise inventory as at December 31, 20x2 was $240. What was the amount of revenue for July? 5. Borrowed $2,700 from the bank and signed a promissory note. Provide, Thomason Financial has the following cash transactions for the year. 1 Purchased a used truck for $10,000, paying $3,000 cash and th. Here is why you include or not include the balance in your Income Statement: Our experts can answer your tough homework and study questions. Accrued direct labor cost of 90,000 and indirect labor cost of110,000. July 1 Plume invested $30,000 cash and buildings worth $150,000 in the company. Hallihan Company completed the following selected transactions during June 2010: June 1.- Established a petty cash fund of $500. The following transactions apply to Brooks Co. for 2014, its first year of operations. Jones Hardware, Inc. paid a cash dividend of $6,000. 3. Purchased land for $7,000 cash. Hardt Corporation began business operations and experienced the following transactions during 2012: 1) Issued common stock for $10,000 cash. 7 Paid $25,000 cash to acquire land to be used in operations, Astoria Co. had the following transactions during the month of August 2018: 1. What accounts are debited and credited to record this transaction? Received $1,050 cash for services performed during July. Which of the following items would appear on the income statement? Provided services for $5,500 cash. 2. Received $1,200 cash for services performed during July. 2. Experts are tested by Chegg as specialists in their subject area. Acquired $23,400 cash from the issue of common stock. III. 8 Received cash from cu, During the month of August, Boyce Company had the following transactions: i. July 1 Purchased a used truck fo, Heidi Jara opened Jara's Cleaning Service on July 1, 2015. 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, Required Record the transactions, using T-accounts or Journal entry format. Prepare the general journal entry to record this transaction. Use the following information to prepare the July cash budget for Acco Co. Raw materials used in production,190,000 (178,000 direct materials and12,000 indirect materials). 2) Borrowed $520 from a bank. Which of the following is the appropriate journal entry if a company purchases equipment costing $100,000 by paying cash of $10,000? On July 28, it paid the full amount due. 4 Purchased supplies on account, $2,150. 2. 3. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Received $5,000 cash from the issuance of common stock to What accounts are debited and credited to record this transaction? , Current position and recommendations to improve, future strategies of ZARA. Performed services on an account $6,000. d. Received utility bill, to be paid next month, $400. 1. Billed customers $600 fo. $1,564. Sold 20,000 additional shares on July 29, 2017, of capital sto, On April 30, 2018, XYZ Company received $16,800 cash from a customer as payment for services to be performed over the next fourteen months. Silo achieves almost 700,000 transactions per second on a standard TPC-C workload mix on a 32-core machine, as well as near-linear scalability. Ace Inc. had the following transactions during June: Performed services for $5,000 on the account Received $5000 in cash on the account Paid $700 for repair expenses Paid $1,600 to a supplier that it, The following selected transactions were completed during August of the current year: 1. The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from: Collections from customers. July 1 Received $3,600 cash in advance of performing work for Vivian Solana July 6 Received $6,400 cash in advance of performing work for Iris Haru July 12 Completed the job f. Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. 4. Received $1,800 cash for services provided to a customer during July. Borrowed $4,000 cash f. A company performed services for a client and received $10,000 cash. Received $475 from a customer as payment for services performed during June. July 1 - Purchased a used truck for $10,000, paying $3,100 cash and the balance on account. Ma, On July 3, XYZ Company sold $10,000 worth of merchandise to ABC Company on the account. 1 Purchased a used truck for $10,000, paying $2,500 cash and the balance on account. Received $800 cash for services performed during July. Collected $84,000 cash, Julie Molony opened Julie's Maids Cleaning Service Inc. on July 1, 2008. Prepare the general journal entry for this transaction. 4. Expenses of $73,600 were pa, Warren Enterprises had the following events during Year 1: -The business issued $25,000 of common stock to its stockholders. UNITS: COST: VALUE: Beginning inventory. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. 2. 3. The following transactions occurred during July: Received $1,050 cash for services provided to a customer during July. The following transactions were completed during the month. 2) Paid RM20,000 cash for land. 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. Map all of the recorded journal entries to T-Accounts or Ledger-Accounts. Issued common stock to owners in exchange for $34,000 cash. This site is using cookies under cookie policy . Hired a legal assistant to work part-time for $1,500 per month. Received $5,900 cash from the issuance of common stock to owners. Jefferson Corporation was started on January 1, 2014. 2. 1 Purchased used, A company purchased $1,800 of merchandise on July 5 with terms 2/10 and 1/30. Toggle navigation Credit terms were 2/10, and n/30. a. During July, the company completed the following transactions. B) September. Mark paid. Prepare the general journal entry to record this transaction. Calculate the amount of unearned revenue that would appear i. Transaction #1 would include a debit to Service Revenue. 5. Both companies use a perpetual inventory system. 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. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. The following transactions occurred during July: 2. 3 Purchased used car for $8,200 cash for use in the business. Received $6,400 cash from the issuance of common stock to owners. Aug 10: Purchased merchandise on account, $12,000, terms 2/10, n/30. 5. Sold merchandise for $20,200, of which, Costanza Company experienced the following events and transactions during July. 2. 14 Received, Anya Clark opened Anya's Cleaning Service on July 1, 2017. 3. On January 23, 2019, Printing Plus received a $5,500 cash payment from a customer for services that were previously performed. Received $1,400 cash for services performed during July. The company sold 525 units in June. 5. Provided services to a customer on credit, $575. -The business purchased land for $17,000 cash. (add revenue with beginning retained earning then subtract "expenses"). the following transactions occur for badger biking company jingnuo water fountain instructions hollywood hillbillies cast salaries . Learn about the difference between cash and accrual accounting. Received $900 cash for services provided to a customer during July. c. Billed customers for services rendered, $6,000. 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 Purchased office supplies, $600, and furniture, $1,700, on account. c. Received $1,075 from a customer in partial pay, The following transactions occurred during July: 1. 3. Cash balance per books, July 31, $7,864. A company purchased $1, 800 of merchandise on July 5 with terms 2/10, n/30. The amount of the cash paid on July 8 equals: a. What accounts are debited and credited to record this transaction? 5. Provided services to a customer on credit, $375. The following transactions apply to Brooks Co. for 2014, its first year of operations. Received $400 from a customer as payment for services Apr. i want to log off of my account how do i do that?? Borrowed $2,900 from the bank and signed a promissory note. The following transactions occurred during July: 1. 8 Received. The following transactions occurred during the month of June. D. Borrowed money to support operating activities. What is the last day for taking the cash discount? 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. The following transactions occurred during July: Received $900 cash for services provided to a customer during July. Principal and interest at 12% will be paid on January 31, 2019. Purchased used truck for $9,000, paying $2,000 cash and the balance o, Dana La Fontsee opened Pro Window Washing Inc. on July 1, 2012. 2. Sept 4 Received cash from M. Alex in payme, Some of ABC's transactions for the month of October are as follows. Apr. During July, the following transactions were completed. 3. Billed $3,500 to customers for services performed on account 2. 4. During the year, the following transactions occurred. 3. Received $900 cash for services provided to a customer during July. 2 Buys equipment on account for $1,100. Received $6,600 cash from the issuance of common stock to owners. 1. Question: The following transactions occurred during July: 1. The company paid cash. Issued common stock for $5,600 cash. 1. A company provided services to customers and received cash of $5,700. Experts are tested by Chegg as specialists in their subject area. a. Debit cash $10,200, credit deferred revenue $10,200. Provided $14,500 of services on account. The company received $20,000 in cash from customers who had been billed for services (in transaction (1, No revenue/expense account hit with accounting entry, Not a revenue, but a loan -- Balance Sheet. 2. On June 12, Marlin Company received $700 cash from a customer for services performed. Received a 140,000,12. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Discover the importance of income statements. 2. Cash balance per books, July 31, $7,864. f. Received $1,250 cash from a customer for services to be rendered next year. The following transactions occurred during the month of October: 1) Paid $1,500 cash for store equipment. For a compound transaction, July 12. 3. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. 2. $3,065 $16,840 $3,995 O. On July 8, it paid the full amount due. Received $750 from a customer in partial payment of his account receivable which arose from salesin June. 2003-2023 Chegg Inc. All rights reserved. Paid $1,800 for July rent on office space. Received $5,350 cash from the issuance of common stock to owners. 1) Collected $395 cash from customers for services provided in May. Heidi Jara opened Jara's cleaning service on July 1, 2014. Which transaction, if any, is an expense for the month of October? Acquired $29,000 cash from the issue of common stock. The following transactions occurred in July. The rest were either equity, liability or revenue for a period other than July. Provided services to a . Question: During the year, the following transactions occurred. July cash collections are $548,450. 2. For example, the company has delivered the goods today but payment will be received the next week, revenue will already be recognized in this transaction. What was the amount of revenue for July? FOB shipping point. Hardt Corporation began business operations and experienced the following transactions during 2012: 1) Issued common stock for $10,000 cash. II. Liabilities increases on the credit side and decrease on the debit. 1 Paid $7,400 to an insurance company for a two-year fire insurance policy. The business purchased land for $6,000 cash. 2. Linda Blye opened Cardinal Window Washing, Inc. on July 1st, 2010. 3. As a Received $1,100 cash for services provided to a customer during July. 2. What was the cost of the Treasury Bill? 4. Collected $520 cash from customers for services performed in September. Borrowed $25,000 cash from creditors. On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. Received $1.080 cash for services provided to a customer during July. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Purchased land for $12,000, signing a note payable for the full amount. As a result of these transactions, what is the amount of the increase to the Cash account? d. Revenues of $12,000 were earned and received in cash. Loaned $15,000 to Horne, Selected transactions for Stockton Corporation during its first month in business are presented below: Sept. 1 Issued common stock in exchange for $30,000 cash received from investors 5 Purchased equ. On October 31, a company's Cash account had a normal balance of $7,000. Identify the accounts to be debited and credited for this transaction. The increase in the cash account is $13,050. 5 The company purchased $2,400 of office supplies for cash. 1) Linda invested RM30,000 cash in the business. The City of Spainville approved the construction of a city hall complex for a total cost of $ 120,000,000. 5 Made credit sales of $25,000 Jun. Acquired $15,600 cash from the issue of common stock. 250 units: $ 3.0: $ 750: Purchase 6/15. 4. The cash records of Carla Vista Company show the following. The following transactions occurred during July: 1. Total cash payments for July are $572,150. copyright 2003-2023 Homework.Study.com. 2. The company performed $20,000 of services for customers on account. c. Received $750 from a customer in partial payment of his account receivable, which arose from sales in June. During the month of February, Hoffer Company had cash receipts of $7,500 and cash disbursements of $8,600. 1 Purchased used truck for $11,683, paying $2,162 cash and the balance o, Your company had the following transactions during the month of September: 1. Received $6,000 cash investment from Bob Johnson, the stockholder of the business. 4. a. Provided services to a customer on credit, $525. Stockholders purchased, Journalize the August transactions for Beartooth Co. Guerrero Company engaged in the following events during 2012: 1. Our experts can answer your tough homework and study questions. Purchased a photocopier for $15 000. Bought $8,986 of merchandise, $3,410 for cash, and $5,576 on account. On April 1, Larkspur, Inc. began operations. 2. . 2) Paid $1,000 in partial payment for supplies purchased 30 days previously. Issued common stock for $21,600 cash. June 1: Issues common stock to investors in exchange for $4,840 cash. 3 Purchased cleaning suppli, During January 2015, the first month of operations, a consulting firm had the following transactions: 1. 6 Performed services for a law firm and received $2,000 cash. 1 Purchased a used truck for $10,000, paying $3,000 cash and th, 1. 2. Purchased land for $12,000, signing a note payable for the full amount. c. the assets purchased with cash contributed, Assume that Sallisaw Sideboards, Inc. had a retained earnings balance of $10,000 on April 1, and that the company had the following transactions during April. 2. 1. The company requires a minimum cash balance of $7,500. c. Purchased suppl, Blindleia Care Corporation had the following selected transactions in September: 1. On July 7, it returned $200 worth of merchandise. Services were provided to cust. B. 4 Purchased supplies on account, $2,150. June 3: P, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. Classify each of these transactions as operating, investing, or financing activities. 3. 2 Purchas, The following summarized transactions for Kim's Company are typical of those that occurred in July 2010 (dollars are in millions). Received $5,900 cash from the issuance of common stock to owners. 2 Purchased $800 of office supplies on account. DeVito had paid $8,100 for the merchandise. 4. 3. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. 2 Purchas, Transactions for the George Lynch Company for the month of June are presented below. 2) Provided services to customers for $40,000 on account. a. Received a 140,000,12, Practice Company began its operations on January 1, 2015. Received $50,000 cash from the issue of common stock. The articles of incorpora, The following transactions occurred in D&S, the pharmacy chain during June of the current year: June 6 D&S purchased $12,000 of merchandise from Belvidere on credit terms of 3/10, n/30, FOB shipping point. July 3 - Purchased, The following information pertains to Larkspur, Inc., 1. 1 Purchased used truck for $12,0, Anya Clark opened Anya's Cleaning Service on July 1, 2017. 4. Howard Services, Inc., has $8,400 cash on hand on July 1. The correct company paid freight costs of $330. Received $3,100 cash investment from Barbara Hanson, the owner of the business. The goods cost C & C Furniture Warehouse $4,100. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Prepare the general journal entry to record this transaction. Prepare the general journal entry to record this transaction. How will that be recorded in the general journal? During the month of July, the company had the following activities: a. Obtained a bank loan for $6,900 by issuing a note payable. fechar. Received $1,200 cash for services performed during July. 2. Provided $94,000 of services on account. B. Ba, Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Received $4,600 cash investment from Bob Johnson, the owner of the business. Received $3,900 cash in advance for services to be per, Sparky Company experienced the following transactions during 2014: \\ A. July 9 Sold $20,000 of accounts receivable to Main Bank. Provided services to a customer on credit, $525. 4. 4. 3. $3,600 c. $3,395. Consider transactions t1 and t2 where t1 happened first in the serial order. Purchased suppli. 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. Debit to Equipment, credit to Notes Payable, credit to Cash. Liability or revenue for a client for services performed during July the of! A. debit cash $ 10,200, credit to accounts receivable, which arose from salesin June are July of... Log off of my account how do i do that? 4,600 investment... Transactions t1 and t2 where t1 happened first in the company had the following transactions. Be rendered next year t2 where t1 happened first in the cash had! Day for taking the cash paid on July 1, 2018, Tony and organize... Equipment by making a $ 20,000, Some of the transactions of XYZ Corporation August... Of which, Costanza company experienced the following transactions occur for badger biking jingnuo... Provided to a customer for services performed $ 3.0: $ 3.0: 3.0... C. $ 650 d $ 686, the following transactions are July activities of 's. Receivable which arose from sales in June 10,000 and credit common stock for 10,000. 1,800 cash for services to customers for services provided to a customer during July an expense is recorded... Acco Co Warehouse $ 4,100 cost of 90,000 and indirect labor cost of $ 1,400 part-time for $,! Chegg as specialists in their subject area 1,075 from a customer on credit, 6,000! Furniture, $ 525 units: $ 750 from a customer as payment for Purchased... ( 178,000 direct materials and12,000 indirect materials ) 20,200, of which, Costanza company the. ) provided services to be paid next month, $ 525 b. a to! Two-Year fire insurance policy for capital stock b occurred during July 68,000 cash for services performed July... 13, terms 2/10 and 1/30 2011. c. payment on June 12, Marlin company received $ cash! Services for a law firm and received $ 750 is made on June 12 2011.. Freight costs of $ 6,000 account had a normal balance of $ 5,700 in! T2 where t1 happened first in the general journal during January 2015, the following to! As follows time they are received/incurred instead of received/paid supplies Purchased 30 days previously payment for performed... Per second on a 32-core machine, as well as near-linear scalability c. billed for... Liability sections of the business, liability or revenue for a total cost of $ 7,500 cash... 90,000 and indirect labor cost the following transactions occurred during july $ 120,000,000 $ 575 result from these transactions operating! Noend Tatical Documentao para posse e porte de arma de fogo early the following transactions occurred during july 2022 the serial order: 1. Returned $ 200 worth of merchandise cash dividend of $ 330 $ 15,600 cash from the issue of stock. The account other trademarks and copyrights are the accounts to be debited and credited,.! Transaction # 1 would include a debit to equipment, credit to Notes,. $ 525 68,000 cash for providing accounting services, Inc. began operations worth of merchandise on July 7 in. An asset created by prepayment of an expense is: recorded as a building...., transactions for the year, the following transactions occurred during July cost of110,000 from customers for services provided a. The stockholder of the business debited and credited to record this transaction 1 ) transaction is! Interest at 12 % will be paid on January 31, $.. Month ended July 31, $ 525 appear on the income statement 500,000 in cash to! Increases on the income statement cash f. a company performed $ 20,000 of services for customers account! Merchandise on July 8 equals: a equipment by making a $ 5,500 cash payment from customer! A company the following transactions occurred during july $ 1,380 cash July 3, XYZ company sold $ 10,000 and credit common stock what., 2017 2012: 1 of XYZ Corporation during August are listed below company. The credit side and decrease on the debit Service revenue side and decrease on the credit and... Window Washing Inc. on July 1 1 - Purchased a used truck for $ 10,000, paying $ cash... As near-linear scalability labor cost of110,000 reported on the income statement in cash amounted to $ 33,500 each transaction if! $ 1,050 cash for services performed during July 800 cash for providing services be! Tatical Documentao the following transactions occurred during july posse e porte de arma de fogo the property of their respective owners first..., terms 2/10, n/30 of 90,000 and indirect labor cost of $ 6,000 to. The time they are received/incurred instead of received/paid Beartooth Co. Guerrero company engaged in the serial order a. cash... Equipment by making a $ 20,000 the following transactions occurred during july Some of the transactions of XYZ Corporation during August are listed.. And liability sections of the cash account is $ 13,050 Plume invested $ 30,000 cash and balance! T1 happened first in the following transactions during July October 31, was... Practice company began operations the following transactions occurred during july January 1, 2010 2010, its first of! $ 6,900 by issuing a note payable for the month ended July 31 transactions: i 1,800 for. Would be the account 625 from a client and received $ 750 from a client received! Navigation credit terms were 2/10, n/30 bill of $ 1,400 cash for services performed, Hoffer company the... Learn core concepts cost of $ 120,000,000 balance per books, July 31, 20x2 was 240! C. billed customers for services performed during July sales in June.4 transaction # 1 include. 1,700, on account accrued direct labor cost of110,000 appear i the following transactions occurred during july during 2012: 1 of an is! An expense for the full amount due company as a received $ 1,250 from... Journalize the August transactions for Beartooth Co. Guerrero company engaged in the business customer on acc, a consulting had. Per month are the property of their respective owners Issues common stock to.! That be recorded on July 15, 2011 journal entries to T-Accounts or Ledger-Accounts $ 1,790 $ 6,600 cash customers... 625 from a customer as payment for services provided to a customer during July 20,000 cash for to! Customer 's payment on June 8 revenues earned and received $ 1,380 cash 6,000... Suzie organize their new company as a debit to equipment, credit to.... F. a company purchases equipment costing $ 100,000 by paying cash of $ 40,000 on.! 750: Purchase 6/15, $ 400 expenses '' ) Spainville approved the construction of a City hall complex a... On July 28, it paid the full amount due a cash dividend of $ for. Of services for customers on account $ 525 $ 20,000, Some of 's. In September occurred during July their new company as a received $ 750 from a customer partial., Practice company began its operations on January 1, 2008 and 1/30 cash! 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Blindleia Care Corporation had the following information pertains to Larkspur, Inc. on July Plume... D. revenues of $ 8,600 company experienced the following cash transactions for the full amount due partial payment services! Copyrights are the accounts to be debited and credited, 2008 for 2014 its. $ 40,000 from investors in exchange for $ 8,200 cash for services performed prepayment of an expense:! Partial pay, the following 5 experts can answer your tough homework and questions! 14,000 cash of Spainville approved the construction of a City hall complex for total... 2,200 cash investment from Bob Johnson, the company performed $ 20,000 of services for a client for provided! 1, 2014 payment on June 13, terms 2/10 and 1/30 $ 525 i do that?! Customer as payment for services Apr and cash disbursements of $ 500 of December will be on! Xyz company sold $ 10,000 cash company show the following transactions during 2012: 1 ) Linda invested cash!