DebitCreditClark Logan made cash investment in hisbusiness.1CashLogan, CapitalOffice EquipmentAn office equipment was bought oncredit.The obligation in number 2 was paid tothe creditor.4 An equipment was bought on cash basis.2Accounts Payable35 The owner withdrew cash from thebusiness.6 Paid rent for the month.7 Collected cash for car repair service.8 Paid electricity consumed by the business.9 Paid taxes for municipal permit.10 Rendered car repair service. The customermade a promise to pay.

Name: DebitCreditClark Logan made cash investment in hisbusiness.1CashLogan
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Description: DebitCreditClark Logan made cash investment in hisbusiness.1CashLogan, CapitalOffice EquipmentAn office equipment was bought oncredit.The obligation in number 2 was paid tothe creditor.4 An equipment was bought on cash basis.2Accounts Payable35 The

Sno Transaction Debit Credit 1 Clark logan made cash investment in his business Cash Logan,…

Business

Accounting

Debit Credit Logan, Capital Clark Logan made cash investment in his business. 2 An office equipment was bought on credit. 3 The obligation in number 2 was paid to the creditor. 4 An equipment was bought on cash basis. 1 Cash Office Equipment Accounts Payable The owner withdrew cash from the business. 6 Paid rent for the month. 5 7 Collected cash for car repair service. 8 Paid electricity consumed by the business. 8 9 Paid taxes for municipal permit. 10 Rendered car repair service. The customer ade: oromise 2.

Debit Credit Logan, Capital Clark Logan made cash investment in his business. 2 An office equipment was bought on credit. 3 The obligation in number 2 was paid to the creditor. 4 An equipment was bought on cash basis. 1 Cash Office Equipment Accounts Payable The owner withdrew cash from the business. 6 Paid rent for the month. 5 7 Collected cash for car repair service. 8 Paid electricity consumed by the business. 8 9 Paid taxes for municipal permit. 10 Rendered car repair service. The customer ade: oromise 2.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

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Record the following transactions: A. Started a petty cash fund in the amount of $ 1,500. B. Replenished petty cash fund using the following expenses: Auto $ 24, Office Expenses $ 53, Postage Expense $ 19, Miscellaneous Expenses $ 25. Cash on hand is $ 389. C. The company has decided to reduce the petty cash fund to $ 600.
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3C. Compile three column cashbook of Mr. Uzair from the following transactions: 2020 Oct 1 Mr. Uzair started business with cash OMR 4000 4 Deposited into Bank OMR 2000 8 Purchased goods on credit from Haya for OMR 1000 10 Sold goods to Kawthar on credit for OMR 600 12 Goods purchased by paying cheque OMR 400 15 Paid wages OMR 40 20 Withdrew from bank for personal use OMR 200 25 Received cash from Kawthar OMR 540, in full settlement of his account 26 Paid electricity OMR 20 28 Withdrew from Bank for business use OMR 2000 30 Paid to Haya by cheque OMR 900, in full settlement of her account
PA9. LO 8.6 Domingo Company received the following bank statement. Using Problem PA3, prepare the bank reconciliation.
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Record the following transactions for the month of June 20X1 in the cash receipts journal. Total, prove, and rule the cash receipts journal as of June 30. June 4 Collected $1,150 from Tom Whitney, a credit customer on account. 9 Received a cash refund of $105 for damaged supplies. 10 Laurie Bradley, the owner, invested an additional $14,500 cash in the business. 21 Received a check from Scott White to pay his $2,300 promissory note plus interest of $127. 26 Received $2,000 for cash sales of plus sales tax of $122. There was a cash overage of $19. Date June 4, 20X1 June 9, 20X1 June 10, 20X1 June 21, 20X1 June 26, 20X1 June 30, 20X1 Description Tom Whitney Cash refund Investment Collect note Scott White Cash sales Totals CASH RECEIPTS JOURNAL Accounts Receivable Credit 1,150 14,500 2,300 Sales Tax Payable Credit $ 17,950 $ 105 122 227 Sales Credit Other Accounts Credit $ 1,859 Account Title Laurie Bradley, Capital Supplies Laurie Bradley, Capital Notes receivable Interest income 1,859…
a. covered transaction b. possible suspicious transaction c. confidential transaction d. immoral transaction e. illegal transaction
What the answer for 2 because it’s not 2,200 or 2,800
Beginning Balance A. D. Total Ending Balance Deposits $7,500 350 7,850 Bank Statement. Checks 101 102 103 106 Bank service charges C. Initiated a petty cash fund $250 check #102. D. Received $350 cash for services rendered. Bank Statement balance $ 600 250 125 242 1,307 Lavender Company started its business on April 1, 2019. The following are the transactions that happened during the month of April. A. The owners invested $7,500 from their personal account to the business account. B. Paid rent $600 with check #101. $0 E. Purchased office supplies for $125 with check #103. F. Purchased computer equipment $1,500, paid $500 with check #104, and will pay the remainder in 30 days. G. Received $750 cash for services rendered. H. Paid wages $375, check #105. 1. Petty cash reimbursement Office Supplies $50, Maintenance Expense $80, Miscellaneous Expense $60. Cash on hand $8. Check #106. J. Increased Petty Cash by $70, check #107. Assume no bank errors. Lavender Company Bank Reconciliation…
Prepare a bank reconciliation statement