| Cash | + | Accounts Receivable | + | Supplies | + | Prepaid van Lease | + | Equipment | - | Accounts Payable | + | Notes Payable | + | Common Stock | + | Retained Earnings | |
| Apr 1 | $14,000 | + | + | + | + | - | + | + | $14,000 | + | |||||||
| Apr 2 | -$2,850 | + | + | + | $2,850 | + | - | + | + | + | |||||||
| Apr 3 | $10,000 | + | + | + | + | - | + | $10,000 | + | + | |||||||
| Apr 3 | -$2,000 | + | + | + | + | $5,500 | - | $3,500 | + | + | + | ||||||
| Apr 4 | -$4,300 | + | + | $4,300 | + | + | - | + | + | + | |||||||
| Apr 7 | -$350 | + | + | + | + | - | + | + | + | -$350 | |||||||
| Apr 21 | + | $3,500 | + | + | + | - | + | + | + | $3,500 | |||||||
| Apr 23 | -$1,500 | + | + | + | + | - | -$1,500 | + | + | + | |||||||
| Apr 28 | $2,300 | + | -$2,300 | + | + | + | - | + | + | + | |||||||
| Apr 29 | -$1,000 | + | + | + | + | - | + | + | + | -$1,000 | |||||||
| Apr 30 | -$1,750 | + | + | + | + | - | + | + | + | -$1,750 | |||||||
| Apr 30 | -$350 | + | + | + | + | - | + | + | + | -$350 | |||||||
| $12,200 | + | $1,200 | + | $4,300 | + | $2,850 | + | $5,500 | - | $2,000 | + | $10,000 | + | $14,000 | + | $50 | |
Final Clean, a firm providing house-cleaning services, began business on April 1. The following accounts in...
Transaction Entries Final Clean, a firm providing house-cleaning services, began business on April 1. The following accounts in its general ledger are needed to record the transactions for April: Cash: Accounts Receivable; Supplies; Prepaid Van Lease; Equipment Accounts Payable; Notes Payable Common Stock Retained Earnings, Dividends; Cleaning Fees Earned; Wage Expense; Advertising Expense; and Fuel Expense. 1 Randy Smith invested $14.000 cash to begin the business he received common stock for his imvestment. April 2 Paid six months' lease on...
B. Fischer started Fischer Company, a cleaning services firm, on April 1. April 1 B. Fischer invested $5,400 cash to begin the business in exchange for common stock. April 2 Paid $1,710 cash for six months' lease on a van for the business. April 3 Borrowed $6,000 cash from a bank and signed a note payable, agreeing to repay it in one year plus 10% interest. April 4 Purchased $3,300 in cleaning equipment; the company paid $1,500 cash with the...
April 1 Randy Smith invested $14,000 cash to begin the business; he received common stock for his investment. 2 Paid six months' lease on a van, $2,850. 3 Borrowed $10,000 from a bank and signed a note payable agreeing to repay the $10,000 in one year plus 10 percent interest. 3 Purchased $5,500 of cleaning equipment; paid $2,000 down with the remainder due within 30 days. 4 Purchased cleaning supplies for $4,300 cash. 7 Paid $350 for newspaper advertisements to...
Preparing Journal Entries and Posting
B. Fischer started Fischer Company, a cleaning services firm, on
April 1.
April 1 B. Fischer invested $5,400 cash to begin the business in
exchange for common stock.
April 2 Paid $1,710 cash for six months’ lease on a van for the
business.
April 3 Borrowed $6,000 cash from a bank and signed a note payable,
agreeing to repay it in one year plus 10% interest.
April 4 Purchased $3,300 in cleaning equipment; the company...
Transaction Entries Unique Designs, a firm providing art services for advertisers, began business on June 1. The following accounts in its general ledger are needed to record the transactions for June: Cash; Accounts Receivable; Supplies Office Equipment; Accounts Payable; Common Stock; Dividends; Service Fees Earned; Rent Expense; Utilities Expense; and Salaries Expense. June 1 Emily Holmes invested 55,000 cash to begin the business, she received common stock for her investment. 2 Paid rent fer june, $375 3 Purchased office equipment...
accounting cycle
MARSHALL COMPANY On April 1, Ralph Marshall opened Marshall Company. The company provides services to a variety of clients. The company was organized as a corporation and has a monthly accounting period. The following transactions occurred during April Apr. 1 Apr. 1 Apr. 1 Marshall invested $20,000 cash in the company in exchange for its common stock. The company paid $1,000 cash to rent office space for April The company paid $1,440 cash for the premium on a...
Heidi Jara opened Whispering Winds's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 1 3 5 12 18 Stockholders invested $20,000 cash in the business in exchange for common stock. Purchased used truck for $8,800, paying $4,100 cash and the balance on account. Purchased cleaning supplies for $2,300 on account. Paid $1,800 cash on a 1-year insurance policy effective July 1. Billed customers $4,600 for cleaning services. Paid $1,500 cash on amount owed...
FIX THE BOXES IN RED
Heidi Jara opened Whispering Winds's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 1 3 5 12 18 Stockholders invested $20,000 cash in the business in exchange for common stock. Purchased used truck for $8,800, paying $4,100 cash and the balance on account. Purchased cleaning supplies for $2,300 on account. Paid $1,800 cash on a 1-year insurance policy effective July 1. Billed customers $4,600 for cleaning services. Paid...
P4-5B Jannero Pargo opened Pargo's Cleaning Service on July 1, 2012. During July the following transactions were completed. July Pargo invested $20,000 cash in the business. 1 Purchased used truck for $9,000, paying $4,000 cash and the balance on account. 3 Purchased cleaning supplies for $2,100 on account. 5 Paid $1,800 cash on one-year insurance policy effective July 1. 12 Billed customers $4,500 for cleaning services. 18 Paid $1,500 cash on amount owed on truck and $1,400 on amount owed...
FILL IN INCOME STATEMENT
Heidi Jara opened Whispering Winds's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 1 3 5 12 18 Stockholders invested $20,000 cash in the business in exchange for common stock. Purchased used truck for $8,800, paying $4,100 cash and the balance on account. Purchased cleaning supplies for $2,300 on account. Paid $1,800 cash on a 1-year insurance policy effective July 1. Billed customers $4,600 for cleaning services. Paid $1,500...