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Question 2: Journalize Transactions /16 marks On March 1, 2019 Fahad Bader opened an office for...
Part II (40 Points) Section A---Business Transactions Journalize the following transactions in general journal format for...
Part II (40 Points) Section A---Business Transactions Journalize the following transactions in general journal format for the ASU Company for the month of September 2018. You may omit the date and explanation. Practice 1. Paid rent for the month, $1,500. 2. Purchased office equipment on account, $10,000. 3. Fees earned and billed to customers for the month, $15,000. 4. Paid cash for supplies, $500. 5. Received cash from customers on account, $9,000. 6. Withdrew cash for personal use, $1,000
Joe Jackson opened Jackson's Repairs on March 1 of the current year. During March, the following...
Joe Jackson opened Jackson's Repairs on March 1 of the current year. During March, the following transactions occurred and were recorded in the company's books: Jackson invested $43,000 cash in the business. Jackson contributed $118,000 of equipment to the business. The company paid $3,800 cash to rent office space for the month of March. The company received $34,000 cash for repair services provided during March. The company paid $8,000 for salaries for the month of March. The company provided $4,800...
P4.5B (LO 1, 2) AP Laura Eddy opened Eddy's Carpet Cleaners on March 1, 2021. In...
P4.5B (LO 1, 2) AP Laura Eddy opened Eddy's Carpet Cleaners on March 1, 2021. In March, the follow- ing transactions were completed: Mar. 1 Laura invested $10,000 cash in the business. 1 Purchased a used truck for $6,500, paying $1,500 cash and signing a note payable for the balance. 3 Purchased supplies for $1,200 on account. 5 Paid $1,200 on a one-year insurance policy, effective March 1. 12 Billed customers $4,800 for cleaning services. 18 Paid $500 of amount...
Journalize the transactions Vera Ernst is a licensed dentist. During the first month of the operation...
Journalize the transactions
Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested $18,000 cash in her business. 1 Hired a secretary-receptionist at a salary of $600 per week payable monthly. 2 Paid office rent for the month $1,200. 3 Purchased dental supplies on account from Dazzle Company $3,300. 10 Performed dental services and billed insurance companies $5,200. 11 Received $1,400 cash advance from Leah...
Cissi Jean Oliver opened Cleaning Angels, Inc. on March 31, 2019. During April, the following transactions...
Cissi Jean Oliver opened Cleaning Angels, Inc. on March 31, 2019. During April, the following transactions were completed: Apr 1 Issued 5,000 shares of Cleaning Angels common stock for $13,000. Each share has a $1.00 par. 1 Borrowed $8,000 on a 2-year, 9% note payable. 1 Paid $9,020 to purchase used floor and window cleaning equipment from a company going out of business ($4,820 was for the floor equipment and $4,200 for the window equipment). 1 Paid...
Anya Clark opened Anya’s Cleaning Service on July 1, 2017. During July, the following transactions were...
Anya Clark opened Anya’s Cleaning Service on July 1, 2017. During July, the following transactions were completed. July 1 Anya 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 $1,900 on account. 5 Paid $1,800 cash on 1-year insurance policy effective July 1. 12 Billed customers $4,500 for cleaning services. 18 Paid $1,400 cash on amount owed on truck and $1,300 on amount owed...
PROBLEM 1 – CHAPTER 2 (JOURNALIZE BUSINESS TRANSACTIONS) Journalize each transaction for C. Cide Company for...
PROBLEM 1 – CHAPTER 2 (JOURNALIZE BUSINESS TRANSACTIONS) Journalize each transaction for C. Cide Company for the month of January. You may omit journal explanations. Jan. 2 Invested $20,000 cash in business. 3 Purchased an automobile for $4,000 cash for use in business. 5 Paid $1,000 for a one-year insurance policy. 9 Paid salaries to employees for $2,500 10 Purchased supplies on account for $500. 11 Billed customers $1,800 for services performed. 16 Paid $200 cash for advertising. 20 Received $700 cash from customers billed on January 11. 23 Paid creditor...
Journalize the following business transactions in general journal form. Identify each transaction by letter. Be sure...
Journalize the following business transactions in general journal form. Identify each transaction by letter. Be sure to show ALL work! The owner, Mai Li, invests $40,000 in cash in starting a real estate office operating as a sole proprietorship. Purchased $500 of supplies on credit. Purchased equipment for $9,000, paying $4,000 in cash and signed a 30-day, $5,000, note payable. Real estate commissions billed to clients amount to $4,000. Paid $800 in cash for the current month’s rent. Paid $200...
Mike Young opened Young's Carpet Cleaners on March 1. During March, the following transactions were completed....
Mike Young opened Young's Carpet Cleaners on March 1. During March, the following transactions were completed. Mar. 1 14 18 Invested $18,000 cash in the business. Purchased used truck for $7,000, paying $3,000 cash and the balance on account. Purchased cleaning supplies for $1,300 on account. Paid S1,600 cash on one-year insurance policy effective March 1. Billed customers $2,800 for cleaning services. Paid S1,600 cash on amount owed on truck and S500 on amount owed on cleaning supplies. Paid $400...
IV. (40') Journalize the following transactions according to the descriptions and requirements: 1. In March, Smith...
IV. (40') Journalize the following transactions according to the descriptions and requirements: 1. In March, Smith Co. completed the following transactions: July 1 12 21 27 Received $10,000 contribution from Bill Alone in exchange for capital. Paid utilities expense of $400. Purchased equipment on account, $2,400 The owner, Bill Alone, withdrew $500 cash from the business. Performed services for a client on account, $3,400. Journalize each of the above transactions. 2. KOOL Co. purchases and installs a machine on Jan....
Part II (40 Points) Section A---Business Transactions Journalize the following transactions in general journal format for the ASU Company for the month of September 2018. You may omit the date and explanation. Practice 1. Paid rent for the month, $1,500. 2. Purchased office equipment on account, $10,000. 3. Fees earned and billed to customers for the month, $15,000. 4. Paid cash for supplies, $500. 5. Received cash from customers on account, $9,000. 6. Withdrew cash for personal use, $1,000
P4.5B (LO 1, 2) AP Laura Eddy opened Eddy's Carpet Cleaners on March 1, 2021. In March, the follow- ing transactions were completed: Mar. 1 Laura invested $10,000 cash in the business. 1 Purchased a used truck for $6,500, paying $1,500 cash and signing a note payable for the balance. 3 Purchased supplies for $1,200 on account. 5 Paid $1,200 on a one-year insurance policy, effective March 1. 12 Billed customers $4,800 for cleaning services. 18 Paid $500 of amount...
Journalize the transactions
Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested $18,000 cash in her business. 1 Hired a secretary-receptionist at a salary of $600 per week payable monthly. 2 Paid office rent for the month $1,200. 3 Purchased dental supplies on account from Dazzle Company $3,300. 10 Performed dental services and billed insurance companies $5,200. 11 Received $1,400 cash advance from Leah...
Mike Young opened Young's Carpet Cleaners on March 1. During March, the following transactions were completed. Mar. 1 14 18 Invested $18,000 cash in the business. Purchased used truck for $7,000, paying $3,000 cash and the balance on account. Purchased cleaning supplies for $1,300 on account. Paid S1,600 cash on one-year insurance policy effective March 1. Billed customers $2,800 for cleaning services. Paid S1,600 cash on amount owed on truck and S500 on amount owed on cleaning supplies. Paid $400...
IV. (40') Journalize the following transactions according to the descriptions and requirements: 1. In March, Smith Co. completed the following transactions: July 1 12 21 27 Received $10,000 contribution from Bill Alone in exchange for capital. Paid utilities expense of $400. Purchased equipment on account, $2,400 The owner, Bill Alone, withdrew $500 cash from the business. Performed services for a client on account, $3,400. Journalize each of the above transactions. 2. KOOL Co. purchases and installs a machine on Jan....
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