(ACCT 103) – Principles of Financial Accounting The listed transaction occurred on AI Kharj Landry during July 2019, July 1 on1/7 owner invested $150,000 cash in the business. • on July 3rd Al Kharj Landry Purchased new equipment for $20,000, paying $15,000 cash and the balance on account. on 1/7 Al Kharj Landry has Purchased supplies for $3000 on the account. on 5/7 Paid $1000 cash for one-year insurance policy effective July 1. on July 12 Al Kharj Landry billed customers $500 for services performed. on 18/7 Paid $3,000 cash on the amount owed on the equipment on transaction 2 and paid $1000 on the amount owed on supplies on transaction 3. on 20/7 Paid $2,200 cash for employee salaries. on 21/7 Collected $300 cash from customers billed on July 12. - on 25/7 Billed customers $1500 for laundry services. on 30/7 Paid utilities bill for a month $300. on 30/7 the owner Withdrew $1500 cash for personal use. Instructions: Journalize July transactions.
(ACCT 103) – Principles of Financial Accounting The listed transaction occurred on AI Kharj Landry during July 2019, July 1 on1/7 owner invested $150,000 cash in the business. • on July 3rd Al Kharj Landry Purchased new equipment for $20,000, paying $15,000 cash and the balance on account. on 1/7 Al Kharj Landry has Purchased supplies for $3000 on the account. on 5/7 Paid $1000 cash for one-year insurance policy effective July 1. on July 12 Al Kharj Landry billed customers $500 for services performed. on 18/7 Paid $3,000 cash on the amount owed on the equipment on transaction 2 and paid $1000 on the amount owed on supplies on transaction 3. on 20/7 Paid $2,200 cash for employee salaries. on 21/7 Collected $300 cash from customers billed on July 12. - on 25/7 Billed customers $1500 for laundry services. on 30/7 Paid utilities bill for a month $300. on 30/7 the owner Withdrew $1500 cash for personal use. Instructions: Journalize July transactions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:الم ملكة العربية السعودية
وزارة التعليم العالي
جامعة الأمير سطام بن عبد العزيز
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(ACCT 103) - Principles of Financial Accounting
The listed transaction occurred on AI Kharj Landry during July 2019, July 1
on1/7 owner invested $150,000 cash in the business.
on July 3rd Al Kharj Landry Purchased new equipment for $20,000, paying
$15,000 cash and the balance on account.
on 1/7 Al Kharj Landry has Purchased supplies for $3000 on the account.
on 5/7 Paid $1000 cash for one-year insurance policy effective July 1.
on July 12 Al Kharj Landry billed customers $500 for services performed.
on 18/7 Paid $3,000 cash on the amount owed on the equipment on
transaction 2 and paid $1000 on the amount owed on supplies on transaction
3.
on 20/7 Paid $2,200 cash for employee salaries.
on 21/7 Collected $300 cash from customers billed on July 12.
on 25/7 Billed customers $1500 for laundry services.
on 30/7 Paid utilities bill for a month $300.
on 30/7 the owner Withdrew $1500 cash for personal use.
Instructions:
Journalize July transactions.
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