Ch. 2 Quiz iSavedHelpSave & ExitThe following transactions occurred during July:201. Received $1,030 cash for services provided to a customer during July.2 Received $4,600 cash investment from Bob Johnsson, the owner of the business3. Received $880 from a customer in partial payment of his account receivable which arose from sales in June.4. Provided services to a customer on credit, $5055. Borrowed $7,300 from the bank by signing a promissory note6. Received $1,380 cash from a customer for services to be rendered next year.SkippedWhat was the amount of revenue for July?Multiple Choice$1,030$1,535$2,915$3,795$15,190Graw< Prev20 of 23NextType here to searchx

The amount of revenue for july will be the amount of sales / services rendered during the month of…

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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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Problem 6-18A (Algo) Preparing a bank reconciliation LO 6-3 Rick Hall owns a card shop, Hall's Cards. The following cash information is available for the month of August Year 1: As of August 31, the bank statement shows a balance of $12,985. The August 31 unadjusted balance in the Cash account of Hall's Cards is $8,491. A review of the bank statement revealed the following information: 1. A deposit of $1,190 on August 31, Year 1, does not appear on the August bank statement. 2. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $2,805 but was recorded on the books as $3,705. 3. When checks written during the month were compared with those paid by the bank, three checks amounting to $4,810 were found to be outstanding. 4. A debit memo for $26 was included in the bank statement for the purchase of a new supply of checks. Required: Prepare a bank reconciliation at the end of August showing the true cash balance. Note: Negative amounts…
Kindly help for trail balance
PA4. LO 8.5 Prepare a trial balance using the journal entries in the Problem PA3.
On November 6 Jason Taylor withdrew $90,000 from personal savings and deposited it in a new business checking account for JT's Consulting Services. ?Which account is debited Jason Taylor, Capital Cash Investment O Withdrew O
choose the correct answer
Melody Mouse Trial Balance as at 31 May 2021 Dr. Cr. $ 2$ Purchases 145,870 Returns in 2,350 Returns out 2,175 Sales 374,860 Accounts payables 72,960 Accounts receivables 84,720 Bank 54,780 Capital Carriage in Discounts allowed 110,005 6,540 2,580 Discounts received 3,210 Drawings Rent 45,210 39,540 Insurance 10,270 Furniture and fittings 165,800 Motor Vehicles 254,600 Allowance for depreciation - Furniture and fittings Allowance for depreciation Motor Vehicles Provision for doubtful debts 74,520 125,900 940 Opening Inventory Loan 35,480 110,400 Telephone Water rates 14,870 12,360 874,970 874,970 The following items should be taken into consideration: i) Closing Inventory at 31 May 2021 was $41,050 ii) An amount of $1,950 was prepaid for insurance. This has not yet been accounted for. iii) A water expense accrual of $850 has not yet been accounted for. iv) Depreciation for the year should be applied at the following rates: Furniture and fittings Reducing Balance Straight Line 15% Motor…
Prepare a bank reconciliation statement
None
QUESTION 2 (a) Record the following transactions into journal entries. June 5 Bought goods by cash from Juliana RM10,000. Received 5% discount. 10 Sold goods by credit to Patricia RM7,700. Gave a RM200 discount. 15 Bought goods by credit from Rosli RM15,500. Received 10% discount. 25 Paid Rosli in full by cheque. Received 8% discount.
Subject: Fundamentals of Accounting 2 Topic: Statement of Financial Position(SFP) Lakwandasan General Merchandising Store Lakwandasan General Merchandising Store is managed by Mr. Lakwandasan asked you to determined the balance of his cash account as of December 31, 2018. You determined the following: He kept some cash in the store a change fund. The cash count revealed 8 pcs of 100 peso bill, 20 pieces of 50 bills, 10 pieces of 20 peso bills 40 pieces of 10 peso coins,, 20 pieces of 5 peso coins, 132 pieces of 1 peso coins and 100 pieces of 25 centavo coins. Three of his regular customer gave Mr. Lakwandasan the following check in payments of debt. Php 9,800 dated November 15,2018. Php 12,500 check dated December 23 2018. Php 7,500- Checked dated Febuary 2019 There are two bank account in the name of the store with the following balances. Balance of the saving account on Dec. 31, 2019 according to the passbook is Php 50,150,. A time deposit certificate for Php 200,000 for 90…
Activity 4: journalize the following transactions
Multiple Select Question Select all that apply On Jan. 2, Callie Company purchased $300 worth of supplies. She paid $100 immediately and put the rest on credit. The journal entry to record this transaction in Callie Company's books would include which of the following? (Check all that apply.) Credit the Cash account for $100. Debit the Supplies account for $100. Credit Accounts payable for $200. Debit the Cash account for $100. Debit the Accounts payable account for $200. Debit the Supplies account for $300. Rate your confidence to submit your answer High Medium .Low Reading

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