Received bill and paid utilities of $15,000 on February 15th. make a general journal.
Homework Answers
| Date | Account Titles | Debit | Credit |
| $ | $ | ||
| February 15th | Utilities Expense | 15,000 | |
| Cash | 15,000 |
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Received bill and paid utilities of $15,000 on February 15th. make
a general journal.
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
A business received the current month's utility bill for $2,125, and immediately paid it. Which journal...
A business received the current month's utility bill for $2,125, and immediately paid it. Which journal entry is prepared? A.Debit Utilities Payable for $2,125 and credit Cash for $2,125. B.Debit Utilities Expense for $2,125 and credit Cash for $2,125. C.Debit Operating Expense for $2,125 and credit Accounts Payable for $2,125. D.Debit Accounts Payable for $2,125 and credit Cash for $2,125.
Question 38 12 points) The corporation received a utility bill; the bill will be paid next...
Question 38 12 points) The corporation received a utility bill; the bill will be paid next month. The corporation produces monthly financial statements. The journal entry to record this transaction is debit Utilities Expense; credit Accounts Receivable. debit Utilities Expense; credit Cash. debit Accounts Payable; credit Utilities Expense. debit Utilities Expense; credit Accounts Payable.
If a utilities expense is incurred in February but was paid in January, the effect on...
If a utilities expense is incurred in February but was paid in January, the effect on the February financial statements is that O A) An expense decreases B) A liability increases C) An asset increases D) An asset decreases
Westen om QUESTION 22 Russell Co, received a $100 utility bill for the current month's electricity....
Westen om QUESTION 22 Russell Co, received a $100 utility bill for the current month's electricity. It is not duen the end of the next month which is when they intend to pay it Which of the following general journal entries will use Co. make to record the receipt of the es Expense Accounts Receivable Utilities Expense 400 lities Expense accounts Payable 200 400 Accounts Payable es Bepense No journal entry is required
Corbin's Café received a bill from the electric company for electricity used. The bill is for...
Corbin's Café received a bill from the electric company for electricity used. The bill is for $325 and has not been paid yet. What adjusting entry would Corbin's Café make? Account Titles and Explanation Debit Credit On February 1, 2019 Kelly Company purchased a 1 year insurance policy for $1,200. What is the adjusting entry on March 31st? Account Titles and Explanation Debit Credit
In January, Tongo, Inc., a branding consultant, had the following transactions. a. Received $15,000 cash for...
In January, Tongo, Inc., a branding consultant, had the
following transactions.
a.
Received $15,000 cash for consulting services rendered in
January.
b.
Issued common stock to investors for $12,000 cash.
c.
Purchased $16,000 of equipment, paying 25 percent in cash and
owing the rest on a note due in 2 years.
d.
Received $8,300 cash for consulting services to be performed
in February.
e.
Bought $1,230 of supplies on account.
f.
Received utility bill for January for $1,500, due February...
E. None of the above 7. Received $400 bill for utilities due in two weeks A....
E. None of the above 7. Received $400 bill for utilities due in two weeks A. Liabilities Increase; Equity Decreases B. Assets Increase; Liabilities Increase C. Assets Decrease; Equity Decreases D. Assets Increase; Assets Decrease E. None of the above 8. Paid $1,000 to assistant for wages A. Assets Increase; Liabilities Increase B. Assets Increase; Assets Decrease C. Liabilities Increase; Equity Decreases D. Assets Decrease; Equity Decreases E. None of the above
In need of assistance in journalizing these entries correctly. Journalize the following transactions in the general...
In need of assistance in journalizing these entries
correctly.
Journalize the following transactions in the general journal using the following blank form (make as many copies as needed). Each journal entry's debits should equal its credits. This is a fundamental GAAP that can't be violated. (Ajournal entry error, such as posting $1,010 instead of $1,100, can be corrected at the adjusting correcting journal entries step.) 2. a. On January 1, 2018, a payment in cash for $12,000 is made for...
Need help on journal entries ACCT 283 -Managerial Accounting Spring 2019 Transaction 6 In-N-Out paid the...
Need help on journal entries
ACCT 283 -Managerial Accounting Spring 2019 Transaction 6 In-N-Out paid the following cash expenses on January 20: Salaries Expense $18,250, Insurance Expense $11,000, and Utilities Expense $13,250. Transaction 7 On February 15, In-N-Out purchased inventory for its restaurant from their vendor on account in the amount of $8,750. Transaction 8 On February 20, a payment of $12,000 cash was paid for dividends. Transaction 9 On February 22, in-N-Out received a telephone bill for $3,000 and...
Question 38 12 points) The corporation received a utility bill; the bill will be paid next month. The corporation produces monthly financial statements. The journal entry to record this transaction is debit Utilities Expense; credit Accounts Receivable. debit Utilities Expense; credit Cash. debit Accounts Payable; credit Utilities Expense. debit Utilities Expense; credit Accounts Payable.
If a utilities expense is incurred in February but was paid in January, the effect on the February financial statements is that O A) An expense decreases B) A liability increases C) An asset increases D) An asset decreases
Westen om QUESTION 22 Russell Co, received a $100 utility bill for the current month's electricity. It is not duen the end of the next month which is when they intend to pay it Which of the following general journal entries will use Co. make to record the receipt of the es Expense Accounts Receivable Utilities Expense 400 lities Expense accounts Payable 200 400 Accounts Payable es Bepense No journal entry is required
Corbin's Café received a bill from the electric company for electricity used. The bill is for $325 and has not been paid yet. What adjusting entry would Corbin's Café make? Account Titles and Explanation Debit Credit On February 1, 2019 Kelly Company purchased a 1 year insurance policy for $1,200. What is the adjusting entry on March 31st? Account Titles and Explanation Debit Credit
In January, Tongo, Inc., a branding consultant, had the
following transactions.
a.
Received $15,000 cash for consulting services rendered in
January.
b.
Issued common stock to investors for $12,000 cash.
c.
Purchased $16,000 of equipment, paying 25 percent in cash and
owing the rest on a note due in 2 years.
d.
Received $8,300 cash for consulting services to be performed
in February.
e.
Bought $1,230 of supplies on account.
f.
Received utility bill for January for $1,500, due February...
E. None of the above 7. Received $400 bill for utilities due in two weeks A. Liabilities Increase; Equity Decreases B. Assets Increase; Liabilities Increase C. Assets Decrease; Equity Decreases D. Assets Increase; Assets Decrease E. None of the above 8. Paid $1,000 to assistant for wages A. Assets Increase; Liabilities Increase B. Assets Increase; Assets Decrease C. Liabilities Increase; Equity Decreases D. Assets Decrease; Equity Decreases E. None of the above
In need of assistance in journalizing these entries
correctly.
Journalize the following transactions in the general journal using the following blank form (make as many copies as needed). Each journal entry's debits should equal its credits. This is a fundamental GAAP that can't be violated. (Ajournal entry error, such as posting $1,010 instead of $1,100, can be corrected at the adjusting correcting journal entries step.) 2. a. On January 1, 2018, a payment in cash for $12,000 is made for...
Need help on journal entries
ACCT 283 -Managerial Accounting Spring 2019 Transaction 6 In-N-Out paid the following cash expenses on January 20: Salaries Expense $18,250, Insurance Expense $11,000, and Utilities Expense $13,250. Transaction 7 On February 15, In-N-Out purchased inventory for its restaurant from their vendor on account in the amount of $8,750. Transaction 8 On February 20, a payment of $12,000 cash was paid for dividends. Transaction 9 On February 22, in-N-Out received a telephone bill for $3,000 and...
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