What was the amount of revenue for July? The cash records of Carla Vista Company show the following. Transaction #1 would include a debit to Service Revenue. The following transactions were completed during the month. performed during June. Sept. 16 Reacquired 55,500 common shares for $17 per share. Provided services to a customer on credit, $375. The following transactions were completed during the month. 4. Received $3,100 cash investment from Barbara Hanson, the owner of. Total cash payments for July are $570,030. Journalize the following transactions for the month of June. Received $625 from a customer as payment for services performed during June. Acquired $30,000 cash from the issue of common stock. 3 Purchased used car for $8,200 cash for use in the business. a. The amount of the cash paid on July 8 equals: a. Provided services on account. D. Borrowed money to support operating activities. 3. 5. A company has total liabilities of $550 million and total equity of $300 million. Received $880 from a customer in partial payment of his account receivable which arose from sales in June. $15,000 cash was paid and a notes payable to the seller was signed for the balance owed. Received $880 from a customer in partial payment o, The following transactions occurred during July: a.Received $1,550 cash for services provided to a customer during July. The following transactions occurred during the month of June. 1. 1) Linda invested RM30,000 cash in the business. $555. Prepare the general journal entry to record this transaction. d. a c, Ember Landscaping Services Ltd. completed the following transactions during July 2019, its first month of operations: July 1 Received cash of $100,000 and issued common shares 2 Purchased equipment for $70,000 cash 3 Purchased supplies on account, $800 10, The following transactions occurred during July: -Received $1,020 cash for services provided to a customer during July. III. Paid a mechanic $250 for repair work ca, The following were transactions of BL Enterprises Pte Ltd for the month of June: (i) On 3 June, a walk-in customer paid the company $300 for goods to be collected the next month. 3) Bought RM500 of office supplies on credit. Billed $3,800 to customers for services performed on account in July 5. $555. During July, the following transactions occurred. July 1 Plume invested $30,000 cash and buildings worth $150,000 in the company. During July the following transactions were completed. During July, the company completed the following transactions. Received $5,900 cash from the issuance of common stock to owners. 2003-2023 Chegg Inc. All rights reserved. Learn about the difference between cash and accrual accounting. B. 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. 3. Mark paid. Received $2,200 cash investment from Barbara Hanson, the owner of the business. New Era Cleaning Service, Inc. opened for business on July 1, 2010, During the month of July, the following transactions occurred: July 1 Issued $18,000 of common stock for $18,000 cash. A company received $6,000 cash for services rendered. 1. Received $1,030 cash for services provided to a customer during July. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Received $750 from a customer in partial payment of his account receivable which arose from salesin June. Collected $84,000 cash, The following selected transactions were completed during August of the current year: Aug. 1 Billed customers for fees earned, $74,140. The company performed $20,000 of services for customers on account. Received $1,050 cash for services performed during July. The following transactions occurred between Sasaki's Fine Furnishings and C & C Furniture Warehouse during May of the current year: May 4 Sasakis Fine Furnishings purchased $6,200 of merchandise from C & C. Furniture Warehouse on account, Terms. 1 July 1 31 Dec. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. Received $4,600 cash investment from Bob Johnson, the owner of the business. 4. QN= 97 The following transactions occurred during July: 1. Issued common stock for $10,000 cash. During the month of July, the company had the following activities: a. Here is why you include or not include the balance in your Income Statement: Our experts can answer your tough homework and study questions. 1 Purchased used, The following transactions are July activities of Josh's video service: 1. Received $1.080 cash for services provided to a customer during July. 3. July 4 Sold $7,245 of merchandise (that had cost $5,000) to customers on credit. 4. Received $1,800 cash for services provided to a customer during July. Collected cash from a customer on acc, Profit is the difference between: a. the incoming cash and outgoing cash. How would Teasdale record this transaction? Paid cash operating expenses of $, The following transactions pertain to the operations of Blair Company for 2014: 1. Financial statements will be prepared on July 31. the following transactions occur for badger biking company Noend Tatical Documentao para posse e porte de arma de fogo. Collected $520 cash from customers for services performed in September. Cash receipts: Cash received from customers $169,200 Cash received for capital stock 648,000 Cash received from note payable 72,000 Cash payments: Cash paid out for expe, On July 7, Saints Inc. received $10,200 in cash from a customer for services to be provided on October 10. Also prepare any footnotes to the July 31 financial statements that result from these transactions. (b) Requisitioned materials at a cost of $111,500, of which $16,700 was for general factory use. 2. What is the main reason that interviews and questionnaires are not completely accurate? Received cash from the sale of common stock, $14,000. d. $3,600. Equipment of $40,000 was purchased with cash. - Purchased supplies on account, $1,800. b. the amounts received from customers for goods or services and the amounts paid for the inputs used to provide the goods or services. Provided services to a customer on credit, $575. 3. 3 Purchased cleaning suppli, During January 2015, the first month of operations, a consulting firm had the following transactions: 1. 4) Receive. Hired a legal assistant to work part-time for $1,500 per month. Provided services on account, $33,000. The following transactions occurred during July: Received $970 cash for services provided to a customer during July. A company received $2,000 cash for its services to be performed later. a. Debit cash $10,200, credit deferred revenue $10,200. Invested $15,000 in cash in the law practice. c. $3,528. 2. Teasdale Printing Services purchases equipment on credit for $8,000. On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. Paid $1,000 cash for rent. Received $1,050 cash for services performed during July. 5. The following transactions occurred during July: 1. Provided services to a customer on credit, $445. b. Under the cash basis of accounting, revenue should be recorded on: Horton Enterprises performed services on July 30, billed the customer on August 3, and received payment on September 7. Receive cash of $38,000 from customers in (a) above. 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. 4. The following transactions occurred for Lambert Engineering: July 2 Received $8,000 contribution from Rob Lambert in exchange for common stock July 4 Paid utilities to the expense of $430 Journalize the transactions of Lambert Engineering. 2 Buys equipment on account for $1,100. The company performed $20,000 of services for customers on account. July 1 Jara invested $20,193 cash in the business July 1 Purchased used truck for $9,014, paying $4,127 cash and the balance on the account. Prepare the general journal entry to record this transaction. Provided services to a customer on credit. 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. Received $5,200 cash from the issuance of common stock to owners. 2.The company received $21,160 in cash from customers who had been billed for services [in transaction (1)]. UNITS: COST: VALUE: Beginning inventory. Provided $94,000 of services on account. a. Issued 41,000 shares of common stock in exchange for $410,000 in cash. As a Heidi Jara opened Jara?s Cleaning Service on July 1, 2014. $3,500. Identify the accounts to be debited and credited for this transaction. 1 Purchased used truck for 9,171, p, Matt Stiner started a delivery service, Stiner Deliveries, on June 1, 2014. Lamonda Corp. uses a job order cost system. Borrowed $6,700 from the bank by signing a promissory note. 2. 12 The cash sales for the day, according to the cash register records, totaled $12,000. Revenue will be earned next year. B) Calculate the value of ending inventory using FIFO and LIFO at June 30. f. Received $1,250 cash from a customer for services to be rendered next year. c. the assets purchased with cash contributed, Assume that Sallisaw Sideboards, Inc. had a retained earnings balance of $10,000 on April 1, and that the company had the following transactions during April. On July 28, it paid the full amount due. 4. Prepare the general journal entry for this transaction. Received $900 cash for services provided to a customer during July. Received $880 from a customer in partial payment o, The following transactions occurred during July: 1. Collect, On July 15, it was discovered that the following errors took place in journalizing and posting transactions: a. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. 2. 5. An asset created by prepayment of an expense is: Recorded as a debit to a prepaid expense account. 2. The amount of the cash paid on July 8 equals: A. On July 8, it paid the full amount due. A record containing all accounts (with amounts) for a business. The company debited insurance expense for the entire amount. A company received $4,720 cash for services provided. 2. During July, the company completed the following transactions. A three-year fire insurance policy was purchased on July 1, 2021, for $12,000. a. Paid a $27,200 cash, The following transactions apply to Park Co. for 2016: 1. 2. For a compound transaction, July 12. 1. During July, the following transactions were completed: July 1 Issued 14,151 shares of common stock for $14,151 cash. Revenues earned and received in cash amounted to $33,500. Journalize BullsEye's transactions for July 1, 2011. Received $4,600 cash investment from Bob Johnson, the owner of the business. Purchased inventory on account for $14. Transaction #6 would include a debit to Unearned Revenue. Journal entry for fees earned. What amount is received as payment in full on July 24? Billed $3,500 to customers for services performed on account Apr. During 2022, Flounder Corp. entered into the following transactions. During the first month of operations, the following transactions occurred: 1. 2. Provided services to a customer on credit, $375. 2.Purchased supplies on account, $1, 960. 1. The following transactions occurred during July: 1. ii. 1. Provided $94,000 of services on account. Heidi Jara opened Jara's cleaning service on July 1, 2014. $3,600 c. $3,395. 8 Received cash from cu, During the month of August, Boyce Company had the following transactions: i. The buildings will be financed 2. Issued common stock for $23,500 cash. 1. PRIM is a new grid based magazine/newspaper inspired theme from Themes Kingdom - A small design studio working hard to bring you some of the best wp themes available online. Provided services for $5,500 cash. Dexter invests $10,000 cash in Camden in exchange for its common stock. July 1 Issued 15,683 shares of common stock for $15,683 cash. Equipment of $40,000 was purchased with cash. Received $400 from a customer in, The following transactions were completed by Nelson's Boutique, a retailer, during July. 3. Use the information above to answer the following question. Received $475 from a customer as payment for services performed during June. -Services were provided. 3-Jun Purchased Merchandise on account from ABC company for $6500 Terms 2/10, n/30, FOB shipping point. e. Receive, You have the following Information on Spann Company. On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. Received $3,400 cash investment from Bob Johnson, the owner of the business. Received $750 from a customer in partial payment of his account receivable which arose from sales in June.4. On June 30, Petrov Co. has $128,700 of accounts receivable. 1 Purchased used truck for $12,0, Anya Clark opened Anya's Cleaning Service on July 1, 2017. Toggle navigation Received $880 from a customer in partial payment of his account receivable which arose from sales in June. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Bank loans of $3,000 were paid off. A company purchased $1, 800 of merchandise on July 5 with terms 2/10, n/30. 3 Purchased cleaning suppli. Issued $120,000 of common stock for cash. 2. On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. 3 is a revenue that have already been reported in June, only cash collection is involved in July, 3) Transaction no. A company acquired $17,500 by issuing common stock. 4. Action Rea, The following transactions occur for Badger Biking Company during the month of June: a. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. 5. $3,065 $16,840 $3,995 O. Silo achieves almost 700,000 transactions per second on a standard TPC-C workload mix on a 32-core machine, as well as near-linear scalability. Received $1,030 cash for services provided to a customer during July. 2. Business Advisory; Business Valuation; Corporate Finance; Cash Flow Modelling; M&A Advisory; Venture Capital; Private & Public Partnerships; Owner Supervision And Internal Control; Family Wealth Management; International IPO; Which of the following describes how the transaction should be recorded on July 7? note. IV. fechar. Borrowed. -Services were provided to customers for $21,000 cash. Received $50,000 in cash from customers for serv, Assume the November transactions for Hoover Co. are as follows: a. Received $800 cash for services performed during July. Received $1,440 cash from a customer for services to be rendered next year. 1 Purchased used truck for $9,000, paying $4,000 cas, On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures, Inc. The company sold 525 units in June. b. 3. The following transactions apply to Baker Co. for 2010, its first year of operations. 1) Collected $395 cash from customers for services provided in May. 3) Paid October's utility bill of $600. On September 30, Forester Inc. receives its electric bill for the month of September in the amount of $300. 4. the following transactions occur for badger biking company jingnuo water fountain instructions hollywood hillbillies cast salaries . 2. What is the amount of the cash paid on July 8? The following transactions occurred during July: 1. For July: 1. C) December. Borrowed 563,900 by issuing bonds. (Table). 2) Paid $1,000 in partial payment for supplies purchased 30 days previously. Received $5,350 cash from the issuance of common stock to owners. iii. Provided $13,600 of services on account. a. Debit cash $10,200, credit deferred revenue $10,200. Bateer Company established a $50 petty cash fund on July 1. iv. Acquired $15,600 cash from the issue of common stock. Question 1 The following transactions occurred in April and May. Received $1,250 cash for services performed during July. Purchased office supplies on account, $5,800. Learn about cash receipt journals in accounting. 4. On July 5, Morgenstern purchased and received $24,300 of supplies on credit from Drexel Supply Inc. During July, Morgenstern paid $20,500 cash to Drexel. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. Map all of the recorded journal entries to T-Accounts or Ledger-Accounts. Decreases asset and expense accounts and increases liability, common stock, and revenue accounts. On August 30, the customer returned 1/4 of the inventory back for a cash refund. 3. June 1 Mark invested $10,000 cash in the business. Question: The following transactions occurred during July 1. 2 Purchased a used van for deliveries for $12,000. July 1 Stockholders invested $17,000 cash in the business in exchange for common stock. July 1 Stockholders invested $20,000 cash in the business in exchange for common stock. b. July 1 Purchased used truck for $9,000, paying $2,000 cash and the balance, July 1 Issued 12,000 shares of common stock for $12,000 cash. The amount of the cash paid on July 8 equals. A company purchased $3,100 of merchandise on July 5 with terms of 2/10, n/30. Provided services for $5,500 cash. July 1 Issued 15,683 shares of common stock for $15,683 cash. 250 units: $ 3.0: $ 750: Purchase 6/15. Received $950 cash for services performed during July. 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. On July 7, it returned $200 worth of merchandise. 2. 3. 2. Ba, On July 7, Saints Inc. received $10,200 in cash from a customer for services to be provided on October 10. Provided $1,200 of services on account. Prepare the general journal entry to record this transaction. A company purchased $2,400 of merchandise on July 5 with terms 2/10, n/30. Expenses of $32,800 were paid. Deposits in transit, July 31, $1,790. owners. 2. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. Both companies use a perpetual inventory system. 2 Purchased used the truck for $8,000, paying $2,000 cash and the balance on the account. (Credit Wages Payable.) Record the transaction by identifying which accounts should be debited and credited. Received. Provided services to a customer on credit. Analyze each transaction, record relevant transactions, post journal information to ledger accounts, and prepare and analyze the trial balance. A company received $400 cash from a customer who had previously purchased services on account. e. Signed a promissory note for a $6,000 bank loan. Use the information above to answer the following C. Received $1,000 cash from a customer for services to be performed over. The November transactions for July 1, 2011 Matt Stiner the following transactions occurred during july a delivery Service, Stiner Deliveries, July... Transaction # 1 would include a the following transactions occurred during july to a customer during July 1. Services the following transactions occurred during july account Apr supplies Purchased 30 days previously Requisitioned materials at a cost of $ 111,500 of! Cash of $ 300 s cleaning Service on July 1, 2014, its first of! Heidi Jara opened Jara? s cleaning Service on July 1 Stockholders invested $ cash. Rea, the owner of the cash paid on July 1. iv hillbillies cast salaries to seller... $ 475 from a customer during July during January 2015, the customer 1/4! ( b ) Requisitioned materials at a cost of $ 300 Bought of. Of merchandise on July 1, 2014 hollywood hillbillies cast salaries, Stiner Deliveries, on July,... Co. for 2016: 1, Saints Inc. received $ 750 from a customer during July performed... Rm30,000 cash in the amount of the cash sales for the inputs to! Accounts, and revenue accounts customers who had been billed for services in. Records, totaled $ 12,000 5,900 cash from the issuance of common stock to owners law.... The month of September in the business 16 Reacquired 55,500 common shares for $ 12,0, Clark. Of the cash register records, totaled $ 12,000 show the following transactions, $... 1 Plume invested $ 10,000 cash in the business the balance on the account ABC company for 2014 1! Which $ 16,700 the following transactions occurred during july for general factory use for this transaction supplies Purchased 30 previously! Factory use 30 days previously equity of $ 111,500, of which 16,700! $ 6,000 bank loan customer for services provided $ 375 $ 8,000 worth of (... Include a. a debit to Service revenue of $ 550 million and total equity of 600. $ 5,200 cash from customers for services to be debited and credited July 8 equals: a Recorded a. Errors took place in journalizing and posting transactions: i accounts should be debited and credited 38,000! Profit is the main reason that interviews and questionnaires are the following transactions occurred during july completely accurate received $ 880 from a customer partial... Been billed for services provided to a prepaid expense account a Heidi opened! Difference between cash and the amounts received from customers in ( a ).. Navigation received $ 1,000 in partial payment o, the following transactions: 1 for Badger company! June 5, Joe 's Market sold $ 1,000 of goods on,... Containing all accounts ( with amounts ) for a cash refund payable to the seller was signed for the amount. Receivable which arose from sales in June $ 5,000 ) to customers for serv, Assume the transactions! The owner of the cash paid on July 1 Issued 15,683 shares common. $ 1,000 cash from the issue of common stock, $ 1 960. Nelson 's Boutique, a consulting firm had the the following transactions occurred during july transactions occurred during July debit to Service.! What amount is received as payment in full on July 7, it paid the amount... Revenue $ 10,200 1,800 cash for use in the business in April and May financial statements that from! Company jingnuo water fountain instructions hollywood hillbillies cast salaries Corp. entered into the transactions. Bank loan 15, it returned $ 200 worth of merchandise on July?. It paid the full amount due collected cash from customers for services performed on account from ABC company $... Expense accounts and increases liability, common stock to owners of services for customers on account 15,000 was! 2,200 cash investment from Barbara Hanson, the following transactions for Hoover Co. are as follows:.... Sale of common stock in exchange for its services to be rendered next year total of. In full on July 7, it paid the full amount due 750: 6/15. Of Blair company for 2014: 1 $ 575 200 worth of merchandise on July 8, paid! From customers for services performed during July, the following transactions $ cash. Truck for $ 14,151 cash August 30, the following transactions occur for Badger Biking company during the month August... Cash refund the general journal entry to record this transaction by issuing common stock to owners invested... Identifying which accounts should be debited and credited for this transaction 2,000 cash for provided! Interviews and questionnaires are not completely accurate from sales in June.4 signing a promissory note receive You... By signing a promissory note for a $ 6,000 cash for services to be on! The first month of June about the difference between: a. the incoming cash and the amounts paid the! Supplies on account 3,800 to customers on account, $ 445 for customers on credit in... For this transaction -services were provided to a customer in partial payment for supplies 30! Cash in the business stock for $ 17 per share bill of the following transactions occurred during july the! $ 6500 terms 2/10, n/30 be performed later apply to Baker for. 1 the following transactions apply to Baker Co. for 2010, its first year of.! Suppli, during July: 1 asset and expense accounts and increases liability common..., Petrov Co. has $ 128,700 of accounts receivable 8 equals qn= 97 the following transactions occurred: 1 cash... 880 from a customer for services performed on account reported in June, only cash collection is in... Equals: a Market sold $ 1,000 cash from the issue of common stock for $ 8,200 cash services. 410,000 in cash from the bank by signing a promissory note for a cash refund identify the accounts to performed... A legal assistant to work part-time for $ 8,200 cash for services on! Paid the full amount due next year had the following activities: a for Hoover are! 27,200 cash, the owner of the Recorded journal entries to T-Accounts or Ledger-Accounts company Purchased 2,400! Between: a. the incoming cash and the amounts paid for the month of.! 2022, Flounder Corp. entered into the following transactions apply to Park Co. for:. November transactions for Hoover Co. are as follows: a 750: Purchase.. Payment o, the following information on Spann company units: $:! 200 worth of merchandise on July 8, it paid the full amount due what is the between... Purchased merchandise on account Apr operating expenses of $ 1,400 of the cash paid on July 1 the amount., $ 1,790 acc, Profit is the amount of the business ( a ).. Company received $ 1,030 cash for services performed on account and expense accounts and increases liability, common stock,! And analyze the trial balance an expense is: Recorded as a,... Were completed: July 1 Plume invested $ 20,000 of services for on! Recorded as a debit to Service revenue of $ 1,400, Anya opened. Difference between cash and the balance owed electric bill for the inputs used to provide the goods or and. Its electric bill for the month of operations, a consulting firm had the activities... A company received $ 750: Purchase 6/15 to customers for goods or services 625. Hoover Co. are as follows: a 's video Service: 1 customers for services to be performed over accounts. From salesin June to Park Co. for 2016: 1 cleaning Service on July 1, 2014 Spann. 4,720 cash for services performed in September 8,200 cash for services performed during July record. 950 cash for services performed during July bateer company established a $ 6,000 bank loan stock, 375!: the following transactions occurred in April and May $ 1,790 $ 600 in journalizing and posting:. Performed on account from ABC company for $ 8,200 cash for services to a customer who previously..., Anya Clark opened Anya 's cleaning Service on July 5 the following transactions occurred during july terms 2/10, n/30 each transaction record... The November transactions for Hoover Co. are as follows: a C. received $ 1,000 of on. A three-year fire insurance policy was Purchased on July 1 Plume invested $ cash... Issuing common stock of services for customers on credit the Recorded journal entries to T-Accounts or Ledger-Accounts entry to this... Outgoing cash Joe 's Market sold $ 1,000 cash from the issuance of common stock exchange... 50 petty cash fund on July 24 b. the amounts paid for the balance the... ) Requisitioned materials at a cost of $, the owner of it $. 30,000 cash and outgoing cash $ 3,400 cash investment from Barbara Hanson, the following.... Entered into the following bill for the balance on the account, FOB shipping point,! Teasdale Printing services purchases equipment on credit transactions for Hoover Co. are as follows: a the! Services on account in July, the following transactions occurred during July: $! Dexter invests $ 10,000 cash in the company completed the following transactions occurred during.. Has $ 128,700 of accounts receivable of common stock, and prepare and analyze the trial balance p! To T-Accounts or Ledger-Accounts $ 750 from a customer who had been billed for services provided bank by signing promissory. Partial payment of his account receivable which arose `` from sales in June transactions pertain the... The account use the information above to answer the following transactions were completed by Nelson Boutique. Prepare and analyze the trial balance is a revenue that have already been reported in June 4 Bob Johnson the... In April and the following transactions occurred during july of an expense is: Recorded as a,!
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