Assignment: Understanding and Applying the Accounting Equation through Journal Entries Transactions 1. The business received an investment of SR10,000 in cash from the owner. 2. Purchased gardening equipment for SR3,000 on credit. 3. Provided landscaping services worth SR1,500; payment received in cash. 4. Paid SR500 in cash for a gardening workshop for employees. 5. Received a SR 2,000 loan from a local bank. 6. Bought additional gardening supplies for SR 800; paid SR 400 in cash and the rest on credit. 7. Earned SR1,200 from gardening services; the customer promised to pay next month. 8. Paid SR300 towards the gardening equipment purchased on credit. 9. Received a SR100 cash refund from a supplier for defective supplies. 10. Paid SR1,000 salary to employees in cash. Submission Requirements: Include the analysis on the accounting equation. Submit your assignment in a PDF document. *******Please solve like the picture ****

Assignment: Understanding and Applying the Accounting Equation through Journal Entries Transactions 1. The business received an investment of SR10,000 in cash from the owner. 2. Purchased gardening equipment for SR3,000 on credit. 3. Provided landscaping services worth SR1,500; payment received in cash. 4. Paid SR500 in cash for a gardening workshop for employees. 5. Received a SR 2,000 loan from a local bank. 6. Bought additional gardening supplies for SR 800; paid SR 400 in cash and the rest on credit. 7. Earned SR1,200 from gardening services; the customer promised to pay next month. 8. Paid SR300 towards the gardening equipment purchased on credit. 9. Received a SR100 cash refund from a supplier for defective supplies. 10. Paid SR1,000 salary to employees in cash. Submission Requirements: Include the analysis on the accounting equation. Submit your assignment in a PDF document. ***Please solve like the picture

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 1AP

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Inner Resources Company started its business on April 1, 2019. The following transactions occurred during the month of April. Prepare the journal entries in the journal on Page 1. A. The owners invested $8,500 from their personal account to the business account. B. Paid rent $650 with check #101. C. Initiated a petty cash fund $550 check #102. D. Received $750 cash for services rendered. E. Purchased office supplies for $180 with check #103. F. Purchased computer equipment $8,500, paid $1,600 with check #104 and will pay the remainder in 30 days. G. Received $1,200 cash for services rendered. H. Paid wages $560, check #105. I. Petty cash reimbursement office supplies $200, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $93. Check #106. J. Increased Petty Cash by $100, check #107.
Analyzing the Accounts The controller for Summit Sales Inc. provides the following information on transactions that occurred during the year: a. Purchased supplies on credit, $18,600 b. Paid $14,800 cash toward the purchase in Transaction a c. Provided services to customers on credit1 $46,925 d. Collected $39,650 cash from accounts receivable e. Recorded depreciation expense, $8,175 f. Employee salaries accrued, $15,650 g. Paid $15,650 cash to employees for salaries earned h. Accrued interest expense on long-term debt, $1,950 i. Paid a total of $25,000 on long-term debt, which includes $1.950 interest from Transaction h j. Paid $2,220 cash for l years insurance coverage in advance k. Recognized insurance expense, $1,340, that was paid in a previous period l. Sold equipment with a book value of $7,500 for $7,500 cash m. Declared cash dividend, $12,000 n. Paid cash dividend declared in Transaction m o. Purchased new equipment for $28,300 cash. p. Issued common stock for $60,000 cash q. Used $10,700 of supplies to produce revenues Summit Sales uses the indirect method to prepare its statement of cash flows. Required: 1. Construct a table similar to the one shown at the top of the next page. Analyze each transaction and indicate its effect on the fundamental accounting equation. If the transaction increases a financial statement element, write the amount of the increase preceded by a plus sign (+) in the appropriate column. If the transaction decreases a financial statement element, write the amount of the decrease preceded by a minus sign (-) in the appropriate column. 2. Indicate whether each transaction results in a cash inflow or a cash outflow in the Effect on Cash Flows column. If the transaction has no effect on cash flow, then indicate this by placing none in the Effect on Cash Flows column. 3. For each transaction that affected cash flows, indicate whether the cash flow would be classified as a cash flow from operating activities, cash flow from investing activities, or cash flow from financing activities. If there is no effect on cash flows, indicate this as a non-cash activity.
Prepare the journal entries to record the transactions assume JE#, accounts, and dates.
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Accounting questions in image
Evangeline Jamili Landscaping Services has the following completed transactions. Prepare the journal entries for the March transactions. Use the following accounts: Cash; Accounts Receivale; Prepaid Insurance; Equipment; Accounts Payable; Jamili, Capital; Jamili, Withdrawals; Landscaping Revenues; Salaries Expense; Rent Expense; Gas and Oil Expense; Supplies Expense and Utilities Expense Jamili deposited P200,000 in a bank account in the name of the business. Jamili invested personal gardening equipment amounting to P10,000 in the business. Mar. 1 4. Bought a used trailer on account from Sala Sales, P8,500. Paid rent for the month, P6,000. Bought a used backhoe from Mobile Equipment, P62,000, paying P30,000 in cash and the balance on account. 7. 10 Bought insurance for one year, P9,000. Performed landscaping services on account for Tindoy Restaurant, P34,200. 13 14 Bought supplies on account from Office Décor, P2,400. Performed landscaping services on account for Urios University,…
create a statement of financial position
Please prepare the journal entries. In journal entries, please provide description.
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Instructions.1. Prepare the general journal entriesDATE TRANSACTIONS1/2/16 Invested PHP500,000 to his business. The trade name of the business was “MR.LABANDERO”1/3/16 Hired Allan and Allie who will manage his business1/4/16 Collections from various customers for the day - PHP3,0001/5/16 Purchase store supplies from Labada Store - PHP10,0001/7/16 Collections from various customers for the day - PHP8,0001/8/16 MR. LABANDERO entered into an exclusive contract with Sikat Hotel where the business willdo all the laundry of the hotel.1/9/16 Sikat Hotel availed the services of MR. LABANDERO amounting to PHP15,000. Payment willbe made on January 20, 2016.1/10/16 Collections from various customers for the day - PHP12,0001/12/16 Purchase a washing machine amounting to PHP50,0001/15/16 Collections from various customers for the day - PHP20,0001/19/16 Paid electricity bill for the month amounting to PHP18,0001/20/16 Received payment from Sikat Hotel amounting to PHP15,0001/21/16 Paid salaries of…
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Prepare general journal entries for the following transactions of Valdez Services.