In June a company paid $400 for May utilities. Select the entry below to record the...
-
In June a company paid $400 for May utilities. Select the entry below to record the cash payment.
A. Utilities Payable 400 Cash 400 B. Prepaid Utilities Expense 400 Cash 400 C. Utilities Expense 400 Utilities Payable 400 D. None of the answer choices provided are correct.
E. Utilities Expense 400 Cash 400
Homework Answers
When a company pays off an expense of May in the month of June, it is clearing a deferred liability. In this case, utilities payable would be cleared off and cash would be reduced
Journal Entry:
Utilities payable 400
Cash 400
Correct choice A
Add Answer to:
In June a company paid $400 for May utilities. Select the entry
below to record the...
In June a company paid $400 for May utilities, select the entry below required at the...
In June a company paid $400 for May utilities, select the entry below required at the end of May. ОА. 400 Utilities Expense 400 Cash B. Prepaid Utilities 400 Expense Cash 400 C. This transaction would be recorded in June. D. 400 Utilities Expense 400 Utilities Payable OE. Utilities Payable 400 Cash 400
On December 31, 2015, Dab Industries reported a prepaid insurance expense account balance of $2,500 and...
On December 31, 2015, Dab Industries reported a prepaid insurance expense account balance of $2,500 and during 2016 the overall account balance (i.e. reported by the company on its financial statements) decreased by $1,300. During 2016, cash payments for future insurance coverage totaled $5,000. Select the answer below that correctly presents the December 31, 2016 adjusting entry. O A. Prepaid Insurance Expense (dr) $5,000 Cash (or) $5,000 B. "none of the answer choices provided are correct. C. Insurance Expense (dr)...
Dungeon Company paid the monthly rent, $6,000. The accountant would record the following journal entry: Select...
Dungeon Company paid the monthly rent, $6,000. The accountant would record the following journal entry: Select one: a. cash 6,000, Rent expense6.000 b. prepaid 6,000, Rent 6.000 c. Rent payable 6,000, Cash 6,000 d. Rent expense 6,000, Cash 6,000
Entity H received a cellphone bill that it paid immediately. The journal entry to record this...
Entity H received a cellphone bill that it paid immediately. The journal entry to record this transaction will include: a debit to Prepaid Utilities and a credit Cash a debit to Utility Expense and a credit to Accounts Payable a debit to Utility Expense and a credit to Cash a debit to Prepaid Utilities and a credit to Accounts Payable
On May 31, the Cash account of Tesla had a normal balance of $5,000. During May,...
On May 31, the Cash account of Tesla had a normal balance of $5,000. During May, the account was debited for a total of $12,200 and credited for a total of $11,500. What was the balance in the Cash account at the beginning of May? Multiple Choice O A SO balance. O A $4,300 debit balance, O A $4,300 credit balance. A $5,700 debit balance. A $5,700 credit balance. 16 24 Next > During the month of March, Harley's Computer...
Journalize the following: On the books & records of Company A On May 2nd, Company A...
Journalize the following: On the books & records of Company A On May 2nd, Company A received $100 of interest income from the bank earned in April. If the books are on an accrual basis, record the entry in April and in May when cash was received April Dr. Interest Receivable Cr. Interest Income May Cash Cr. Interest Receivable On the books & records of Company A In January, Company A purchased Investment in XYZ for $100. Payment was made...
Can you please answer all dates from the first for the Journal Entry. April 5, May...
Can you please answer all dates from the first for the Journal
Entry. April 5, May 17, May 29, June 4, June 10, July 8. Debit and
Credit. Thank you.
Shown as follows are selected transactions of the architectural firm of Munson, Chang, and Alverez, Inc. April 5 Prepared building plans for Biltmore Construction Company. Sent Biltmore an invoice for $16,900 requesting payment within 30 days. (The appropriate revenue account is entitled Drafting Fees Earned.) May 17 Declared a cash...
1.Indicate the proper journal entry to record payment of a cash dividend previously declared: Select one:...
1.Indicate the proper journal entry to record payment of a cash dividend previously declared: Select one: a. Debit Cash, credit Dividend Payable b. Debit Dividends, credit Cash 2.A bookkeeper erroneously recorded a $7 accrual of wages payable using this journal entry: Sales Discount $7 Inventory $7 Indicate the effect of the error on Expenses, Assets, and Liabilities, respectively: Select one: a. No Error, Understated, No Error b. Overstated, No Error, Understated c. Understated, Understated, Understated d. No Error, No Error,...
Create a Balance Sheet and Closing Entries. Note: I found a mistake on June 3 Entry...
Create a Balance Sheet and Closing Entries. Note: I found a
mistake on June 3 Entry its supposed to be Debit Cash and Credit
Unearned Revenue.
Date Entry Post Ref. Credit Debit 70,000 101 307 70,000 128 12,240 101 12,240 25,000 25,000 155 153 101 12,000 12,500 24,500 131 3,600 101 3,600 June Cash Common Stock (to record investment) Prepaid Insurance Cash (to record prepayment of insurance) Cash Accounts Payable (to record loan) Rafts Trucks Cash | (to record purchase...
Record the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry...
Record the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) (a) Started business by issuing 10,000 shares of common stock for $26,000 (b) Hired Rebecca as an administrative assistant, promising to pay her $2,300 every two weeks. (c) Rented a building for three years at $540 per month and paid six months' rent in advance. (d) Purchased equipment for $5,900 cash. (e) Purchased $1,700 of supplies on account....
In June a company paid $400 for May utilities, select the entry below required at the end of May. ОА. 400 Utilities Expense 400 Cash B. Prepaid Utilities 400 Expense Cash 400 C. This transaction would be recorded in June. D. 400 Utilities Expense 400 Utilities Payable OE. Utilities Payable 400 Cash 400
On December 31, 2015, Dab Industries reported a prepaid insurance expense account balance of $2,500 and during 2016 the overall account balance (i.e. reported by the company on its financial statements) decreased by $1,300. During 2016, cash payments for future insurance coverage totaled $5,000. Select the answer below that correctly presents the December 31, 2016 adjusting entry. O A. Prepaid Insurance Expense (dr) $5,000 Cash (or) $5,000 B. "none of the answer choices provided are correct. C. Insurance Expense (dr)...
On May 31, the Cash account of Tesla had a normal balance of $5,000. During May, the account was debited for a total of $12,200 and credited for a total of $11,500. What was the balance in the Cash account at the beginning of May? Multiple Choice O A SO balance. O A $4,300 debit balance, O A $4,300 credit balance. A $5,700 debit balance. A $5,700 credit balance. 16 24 Next > During the month of March, Harley's Computer...
Journalize the following: On the books & records of Company A On May 2nd, Company A received $100 of interest income from the bank earned in April. If the books are on an accrual basis, record the entry in April and in May when cash was received April Dr. Interest Receivable Cr. Interest Income May Cash Cr. Interest Receivable On the books & records of Company A In January, Company A purchased Investment in XYZ for $100. Payment was made...
Can you please answer all dates from the first for the Journal
Entry. April 5, May 17, May 29, June 4, June 10, July 8. Debit and
Credit. Thank you.
Shown as follows are selected transactions of the architectural firm of Munson, Chang, and Alverez, Inc. April 5 Prepared building plans for Biltmore Construction Company. Sent Biltmore an invoice for $16,900 requesting payment within 30 days. (The appropriate revenue account is entitled Drafting Fees Earned.) May 17 Declared a cash...
Create a Balance Sheet and Closing Entries. Note: I found a
mistake on June 3 Entry its supposed to be Debit Cash and Credit
Unearned Revenue.
Date Entry Post Ref. Credit Debit 70,000 101 307 70,000 128 12,240 101 12,240 25,000 25,000 155 153 101 12,000 12,500 24,500 131 3,600 101 3,600 June Cash Common Stock (to record investment) Prepaid Insurance Cash (to record prepayment of insurance) Cash Accounts Payable (to record loan) Rafts Trucks Cash | (to record purchase...
Record the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) (a) Started business by issuing 10,000 shares of common stock for $26,000 (b) Hired Rebecca as an administrative assistant, promising to pay her $2,300 every two weeks. (c) Rented a building for three years at $540 per month and paid six months' rent in advance. (d) Purchased equipment for $5,900 cash. (e) Purchased $1,700 of supplies on account....
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago