Provided services to a customer on credit $565. 3 . During July, the company completed the following transactions. On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. The following transactions occur from August 1 through December 31. result of these transactions, what is the amount of the increase to in July. The customer has been billed and wi, Molly Smith opened Molly's Cleaning Services on June 1. 2) Paid $1,000 in partial payment for supplies purchased 30 days previously. Received $35,000 for providing services to customers. Debit to Equipment, credit to Notes Payable, credit to Cash. 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. July 1 Issued 11,000 shares of common stock for $11,000 cash. C. Received $1,000 cash from a customer for services to be performed over. Heidi Jara opened Jara?s Cleaning Service on July 1, 2014. Received $900 cash for services provided to a customer during July. July cash collections are $548,440. Received $3,400 cash investment from Bob Johnson, the owner of the business. Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. 4. B. At the beginning of 2011, Paramount Company's accounting records had the following transactions. Transaction #1 would include a debit to Service Revenue. QN= 97 The following transactions occurred during July: 1. 5. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. 5. 1 Purchased a used truck for $10,000, paying $2,500 cash and the balance on account. The following selected transactions occurred during the year: Feb. 11 Issued 55,500 common shares at $20 per share. Issued $120,000 of common stock for cash. Dexter invests $10,000 cash in Camden in exchange for its common stock. Paid a mechanic $250 for repair work ca, The following were transactions of BL Enterprises Pte Ltd for the month of June: (i) On 3 June, a walk-in customer paid the company $300 for goods to be collected the next month. Provided services for $4,600 cash. 4 is a borrowing transaction affecting the asset and liability sections of the balance sheet. Borrowed. 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. Derive expressions for long-run average cost and marginal cost, and sketch these curves. 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. Billed $4,250 to customers for services performed on account in July. Paid monthly rent. 6. July 1 Stockholders invested $16,000 cash in the business in exchange for common stock. owners. A firm has a long-run total cost function: LTC(Q)=Q320Q2+220Q\operatorname{LTC}(Q)=Q^3-20 Q^2+220 Q Debit to Accounts Receivable, credit to Service Revenue. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. July 3 Received cash from J. Smith in payment of June 29 invoice of $350, less cash discount July 6 Issu, Transactions made by Newton Company for the month of June are below. The following transactions occurred during July: received $900 cash for services provided to a customer during July. A company received $6,000 cash for services rendered. 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. Provided services to customers on account, $95,000 3. The following transactions occurred during July: 1. Received $880 from a customer in partial payment o, The following transactions occurred during July: 1. Received partial payment on account $1,500. Learn about the difference between cash and accrual accounting. 4. July 1. $637 c. $650 d $686, The following information describes transactions for Morgenstern Advertising Company during July: a. b. a credit to Accounts Receivable of $1,400. Acquired $15,600 cash from the issue of common stock. The following transactions occurred during July: 1. Received. Provided services to customers on account, $2,000. (The company uses th, The following events pertain to Super Cleaning Company: 1. Received $600 from a customer as payment for services performed during Jun, The following transactions occurred during July: 1. What is the amount of the cash paid on July 8? Issued common stock for $5,600 cash. How would Teasdale record this transaction? fechar. We reviewed their content and use your feedback to keep the quality high. 9 Purchased su, July1 - Stockholders invested $18,000 cash in the business in exchange for common stock. 2. Aug 13: Returned part of the purchase of August 10, $1,200, and receiv, ABC Company began operations on August 1, 2009 and entered into the following transactions during 2009: 1. Borrowed $2,500 from the bank and signed a promissory The following were June transactions: 1. Morgan has given Jackson three options for payment. Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. 3. A company received $4,720 cash for services provided. 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. Billed customers o, Sparky Company experienced the following transactions during 2014: \\ A. Invested $15,000 in cash in the law practice. 1. 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. The following transactions occurred during July: 1. Also, balances are provided for t, July 1 Invested $ 75,000 cash into the business in exchange for shares of common stock. 3. Paid expenses amounting to, Journalize the following selected transactions for January : 1. W. Four transactions that occurred during June are listed below. All other trademarks and copyrights are the property of their respective owners. Record the transaction effects using a journal entry format. Received $1,250 cash for services performed during July. Principal and interest at 12% will be paid on January 31, 2019. Provided $98,000 of services on account. What accounts are debited and credited to record this transaction? Assume 360 days in a year. During July, the following transactions were completed. During July, the following transactions were completed. Prior to the split, the market price per share was $35. Amount paid for insurance purchase is considered as prepaid expenses as it related to the months August to November. Purchased land for $12,000 cash. During July, the following transactions were completed. Deposits in transit, July 31, $1,790. Financial statements will be prepared on July 31. Bank loans of $3,000 were paid off. D. $1,60. What would be the account balance in the Service Revenue account after the following transactions, assuming a zero beginning balance? Issued 11,000 shares of common stock for $11,000 cash. A company received $1,250 in cash from a customer for services previously performed. 4. Provided services to a customer on credit. What accounts are debited and credited to record this transaction? (ii) On 5 June, the company determined that it could not collect $325 from, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. Purchased land for $12,000, signing a note payable for the full amount. Which of the following list of events properly reflects the early steps taken in the accounting process? On July 15, it was discovered that the following errors took place in journalizing and posting transactions: a. C. $1,568. A company received $3,000 cash from clients for services provided. 2. Received $900 cash for services provided to a customer during July. 27)The following transactions occurred during July for Hurley Services: (1) Received $800 cash for photography services provided to customer during the month. Bought $8,986 of merchandise, $3,410 for cash, and $5,576 on account. A. A summary of cash flows for July follows. 2. Executive Summary and Introduction, which should discuss the overall concept of operations 3. July 1 Anya invested $20,000 cash in the business. The following transactions occurred during July: 1. IV. Sold inventory for $250,000 cash tha, Sep. 1 Received $48,000 cash and issued common stock to Sikes. Provided services for cash, $22,000. 2. Received $800 cash for services performed during July. The following transactions occurred during July: 1. Received $450 from a customer as payment for services performed during June. For a compound transaction, July 12. 3. C. Collected cash from customers. 3. Prepare journal entries to establish the fund on July 1 and re, Fran Inc. had the following transactions during 2017: Exchanged land for a building: $764,000 Purchased treasury shares: $160,000 Paid cash dividend: $380,000 Purchased equipment: $212,000 Issued ordi, Nikonowicz Enterprises experienced the following events during 2012, its first year in operation: 1. What is the amount of the cash paid on July 8? 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. $555. Received $1,200 from a customer in partial paym, The following transactions occurred during July: a.Received $1,550 cash for services provided to a customer during July. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Borrowed $2,500 from the. Billed $3,950 to customers for services performed on the account in July. The following transactions occurred during July: 1. Mar. Received $3,100 cash investment from Barbara Hanson, the owner of the business. July 3 - Purchased, July 1 Stockholders invested $17,000 cash in the business in exchange for common stock. July 1 Plume invested $30,000 cash and buildings worth $150,000 in the company. Received $800 cash for services performed during July. On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. 5. Received $5,000 from issuance of stock to investors. Received $1,000 from a customer for services to be performed The following transactions occurred during July 1. 6. Howard Services, Inc., has $8,400 cash on hand on July 1. A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. As a result of these transactions, what is the amount of the increase to the Cash account? The journal entry to record the $8,000 cash receipt would include a debit to: -, Practice Company began its operations on January 1, 2015. Received $1.080 cash for services provided to a customer during July. Dividends of $9,500 were paid to stockholders in cash. 4. Received $400 from a customer as payment for services 3 Purchased cleaning suppli. Purchased land for $7,000 cash. A company acquired $17,500 by issuing common stock. Debit Cash for $2,000 and Credit Unearned Revenue for $2,000. 3. Received $1,030 cash for services provided to a customer during July. |1 July 2018|Retired a piece of machinery that was purchased on 1 July 2008. 1.The company provided $21,160 of services for customers on account. The amount of the cash paid on July 8 equals: a. Billed customers for fees earned, $73, 900. 2. Borrowed $59,500 by issuing bonds. A company purchased $1, 800 of merchandise on July 5 with terms 2/10, n/30. Decreases asset and expense accounts and increases liability, common stock, and revenue accounts. The following transactions occur from August 1 through December 31. Hallihan Company completed the following selected transactions during June 2010: June 1.- Established a petty cash fund of $500. Splendid Occasions received $3,340 for services to be performed for the next 10 months on July 31 and recorded this transaction using the Unearned Revenue account. Which of the following statements about the recording of Purchased office e, Following are transactions of Gotebo Tanners, Inc., a new company, during the month of January: 1. Obtained a bank loan for $6,900 by issuing a note payable. 2 Purchased $800 of office supplies on account. 4. Analyze each transaction, record relevant transactions, post journal information to ledger accounts, and prepare and analyze the trial balance. 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