3. Action Rea, The following are the transactions for the month of July. Bank loans of $3,000 were paid off. 6. The following transactions occurred during July: a. Ba, On July 7, Saints Inc. received $10,200 in cash from a customer for services to be provided on October 10. Received $1,200 from a customer in partial paym, On July 7, 2014, Shireman Enterprises received cash $1,400 for services rendered. 4. sports drink 1: Purchased, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. Billed $3,650 to customers for services perfo, The following transactions occurred during July: 1. All rights reserved. On July 8, it paid the full amount due. Experts are tested by Chegg as specialists in their subject area. Recorded as a debit to a prepaid expense account. The following selected transactions were completed during August between Summit Co. and Beartooth Co.: |Aug.1|Summit Co. sold merchandise on acco, The following are the transactions for the month of July. Please give positive ratings so I can keep answering. Received $625 from a customer as payment for services performed during Jun, The following transactions occurred during July: 1. Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. 2. Received $2,200 cash investment from Bob Johnson, the owner of the business. July 1 Issued 11,000 shares of common stock for $11,000 cash. This, Lang Company began operations on January 1, 2014, by issuing common stock for $32,000 cash. A company received $2,724 cash for services performed. When would it be a good idea to invest your money instead of putting it in a savings 5 is an unearned income. Kirkaid company recorded the following transactions for the just completed month:, Elvira industries had the following transactions, The following transactions affected various funds and activities of the town of big springs., Gill company, organized in 2017, has the following transactions related to intangible assets., a. Issued common stock for $5,600 cash. A company purchased $3,700 of merchandise on July 5 with terms 3/10, n/30. The City of Spainville approved the construction of a city hall complex for a total cost of. 2. a. Pel, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. The buildings will be financed by a. Donec aliquet. 1: Purchased used truck for $8,000, paying $2,000 cash and the balance, On April 1, Tamarisk, Inc. began operations. 4 Purchased office supplies, $600, and furniture, $1,700, on account. Question:The following transactions occurred during July 1. July 1: Purchased used truck. During July the following transactions were completed. $200. 1. 3. July 1 Issued $14,000 of common stock for $14,000 cash. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. 1. Acquired $30,000 cash from the issue of common stock. -Beginning cash balance for July: $80,000 -Budgeted cash receipts for July: $95,000 -Budgeted cash disbursements for July: $120,000 -Minimum ca, Stonyfield Farm had the following transactions during its first month of operations: June 1 The company received cash of $35,000 and issued common stock to the shareholders. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Decreases asset and expense accounts and increases liability, common stock, and revenue accounts. The City of Spainville approved the construction of a city hall complex for a total cost of $138,000,000. What was the January 31 beginning cash balance? (a) What $t$-value represents the year 2010? 2. July 1 Purchased used truck for $9,000, paying $2,000 cash and the balance. July 1 Stockholders invested $16,000 cash in the business in exchange for common stock. 4. Received $1,430 cash from a customer for services to be performed next year. 1. 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. d. Received utility bill, to be paid next month, $400. On July 7, 2017, Sunland Co. performed services for a client and received $1,380 cash. What amount is received as payment in full on July 24? The City of Spainville approved the construction of a city hall complex for a total cost of $ 120,000,000. b. d. June 29: Paid a $6, Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. The cash paid on June 24 equ. Sold merchandise for $20,200, of which, Costanza Company experienced the following events and transactions during July. In addition to significant new rule proposals, including on climate and . Issued Common Stock to investors in exchange for $5,000 cash. $700 b. QN=79 Withdrawal account, revenues account, expenses account and income summary account are. d. a c, The following transactions occurred during July: -Received $1,020 cash for services provided to a customer during July. Our experts can answer your tough homework and study questions. 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. Received $5,230 cash from investors and issued c. Heidi Jara opened Jara's cleaning service on July 1, 2014. Services were provided to cust. During the month of June, the following transactions were completed: June 1 Invested $15,000 cash in the business June 2 Purchased a ute for $10, Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. XYZ uses the periodic inventory method. Borrowed $80 from, The following selected data pertain to Phineus Corporation: Cash operating expenses, July 1-31 $180,000 Depreciation 60,000 Merchandise purchases in July 560,000 Estimated payments in July for purchases in June 220,000 Estimated payments in July for purch, Debra Company began operations on June 1. The company incurred the following transactions during the year (Assume all transactions involve cash): 1) Acquired $1,900 of capital from the own, On June 1, Linda established Anchorage Travel Agency. iii. July 1 Issued 15,683 shares of common stock for $15,683 cash. $555. A company received $4,720 cash for services provided. 4 Purchased supplies on account, $2,150. During July, the company completed the following transactions. The business purchased land for $6,000 cash. Purchased land for $12,000, signing a note payable for the full amount. 1 Purchased used the truck for $, Transactions for Sheridan Company for the month of June are presented below. The following transactions occurred during the fiscal year July 1, 2021 to June 30, 2022: 1. If a period-end inventory amou nt is reported in error, it can c ause a misst atement in all of the following ex cept. Calculation to determine the amount of revenue for July, Revenue=Cash received for services provided+Services provided customer on credit, Therefore the amount of revenue for July is $1,275, This site is using cookies under cookie policy . On July 7, it returned $240 worth of merchandise. (add revenue with beginning retained earning then subtract "expenses"). 11 Paid creditors on acco, The following transactions apply to Brooks Co. for 2014, its first year of operations. Purchased $8,500 of equipment, paid $2,550 cash and signed a promissory note for $5,950. ii. Received $5,000 from issuance of stock to investors. $833 c. $850 d. $882, A credit sale of $3,600 is made on July 15, terms 3/10, n/30, on which a return of $100 is granted on July 18. A company purchased $3,400 of merchandise on July 5 with terms of 2/10, n/30. Provided $13,600 of services on account. Received $900 cash for services performed during July. 3. Journalize the July transactions. Please briefly explain why you feel this answer should be reported. Acquired $15,600 cash from the issue of common stock. On July 7, it returned $280 worth of merchandise. Received $8,150 cash from the issuance of common stock to owners. 3. The stock has a stated value of $4 per share. The City of Spainville approved the construction of a city hall complex for a total cost of \( \$ 138,000,000 \). The machine cost $, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. wine Borrowed $40,000 cash from National Bank. Search; Solutions; Q&A; Blog; Scan Question + Post. What is the amount of the cash paid on July 8? Analyze each transaction, record relevant transactions, post journal information to ledger accounts, and prepare and analyze the trial balance. C. Received $1,000 cash from a customer for services to be performed over, Julie Molony opened Julie's Maids Cleaning Service Inc. on July 1, 2008. On July 7, it returned $260 worth of merchandise. $3,440. Received $5,350 cash from the issuance of common stock to owners. 3) Earned $700 of revenues. D. $1,60. 1. How would Teasdale record this transaction? 27)The following transactions occurred during July for Hurley Services: (1) Received $800 cash for photography services provided to customer during the month. Collected $78,000 cash from accounts receivable. D) July. 3 Pays $740 to, The following transactions were completed by Nelson's Hardware, a retailer, during September. Which of the following items would appear on the income statement? On July 8, it paid the full amount due. 2. 2. 2. b. What is the necessary entry to record this transaction? A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. Obtained a bank loan for $6,900 by issuing a note payable. 8 sold 30 Certain states have no state income tax This represents an increase in revenue. Posted one month ago View Answer Q: Loaned $15,000 to Horne, Lindsay Company had the following transactions for the month of August. 4 Paid $20,000 cash for land to use as a building site. Borrowed $7,800 from the bank by signing a promissory note. Opened business by issuing common stock for $36,000. 4. 3. Record the journal entries associated with these three transactions. Issued 11,000 shares of common stock for $11,000 cash. How will Joe's Market record the customer's payment on June 8? c. $3,528. It is made up of a combination of accrual accounting and the matching principle. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. Received $900 cash for services provided to a customer during July. Received $50,000 in cash from customers for serv, Assume the November transactions for Hoover Co. are as follows: a. The company incurred expenses of $6,000 during July of which $2,000 was paid in cash and the remainder was expected to be paid in, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2015. Borrowed $25,000 cash from creditors. 3. 4 Purchased supplies on account, $2,120. During the month of May, total credits to Accounts Receivable were $52,000 from customer payments. &3 x-y \geq-6 3. 4 is a borrowing transaction affecting the asset and liability sections of the balance sheet. The following transactions occurred during July: 1. Net sales. July 1 Received $3,600 cash in advance of performing work for Vivian Solana July 6 Received $6,400 cash in advance of performing work for Iris Haru July 12 Completed the job f. Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. During September, the account was debited for a total of $12,200 and credited for a total of $11,500.
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