More infoDec.1 Cosmo contributed $16,000 cash in exchange for capital.2 Received $2,000 cash from customers for services performed.5 Paid $600 cash for office supplies.9 Performed services for a customer and billed the customer forservices rendered, $6,500.10 Received $550 invoice for utilities due in two weeks.15 Paid for advertising in the local paper, $425.20 Paid utility invoice received on Dec. 10.25 Collected cash in full from customer billed on Dec. 9.28 Paid rent for the month, $2,600.28 Paid $1,500 to assistant for wages.30 Received $1,400 cash from customers for services performed.31 Cosmo withdrew $2,500.PrintDone Cosmo Thomas started a new business, Thomas Gymnastics, and completed the following transactions during December:(Click the icon to view the transactions.)Analyze the effects of the transactions on the accounting equation of Thomas Gymnastics......Analyze the events chronologically, one transaction at a time. Beginning with the transaction on the 2nd, calculate the balance in each account after analyzing theeffect of the transaction on the accounting equation. Enter each transaction from the 28th on separate lines and in the same order as presented in the problemstatement. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] Carry down all balances to the"Bal." line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviationsused: A/P = Accounts Payable; A/R = Accounts Receivable; Adv. = Advertising; Cap. = Thomas, Capital; Exp. = Expense; Liab. = Liabilities; Off. Sup. = OfficeSupplies; Sal. = Salaries; Serv. Rev. = Service Revenue; Util. = Utility; Withdr. = Thomas, Withdrawals.)ASSETSLIAB.EQUITYCashA/ROf.A/PCap.WithdrServ.- Rent- Util.Sal.- Adv.+Sup.Rev.Exp.Exp.Exp.Exp.12/116,00016,000+12/22,0002,000+Bal.18,00016,0002,000+12/5Bal.Windows+ + +

Name: More infoDec.1 Cosmo contributed $16,000 cash in exchange for capital
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Description: More infoDec.1 Cosmo contributed $16,000 cash in exchange for capital.2 Received $2,000 cash from customers for services performed.5 Paid $600 cash for office supplies.9 Performed services for a customer and billed the customer forservices rendered,

Business

Accounting

Dec. 1 Cosmo contributed $16,000 cash in exchange for capital. 2 Received $2,000 cash from customers for services performed. 5 Paid $600 cash for office supplies. 9 Performed services for a customer and billed the customer for services rendered, $6,500. 10 Received $550 invoice for utilities due in two weeks. 15 Paid for advertising in the local paper, $425. 20 Paid utility invoice received on Dec. 10. 25 Collected cash in full from customer billed on Dec. 9. 28 Paid rent for the month, $2,600. 28 Paid $1,500 to assistant for wages. 30 Received $1,400 cash from customers for services performed. 31 Cosmo withdrew $2,500.

Dec. 1 Cosmo contributed $16,000 cash in exchange for capital. 2 Received $2,000 cash from customers for services performed. 5 Paid $600 cash for office supplies. 9 Performed services for a customer and billed the customer for services rendered, $6,500. 10 Received $550 invoice for utilities due in two weeks. 15 Paid for advertising in the local paper, $425. 20 Paid utility invoice received on Dec. 10. 25 Collected cash in full from customer billed on Dec. 9. 28 Paid rent for the month, $2,600. 28 Paid $1,500 to assistant for wages. 30 Received $1,400 cash from customers for services performed. 31 Cosmo withdrew $2,500.

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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a. Received $16,600 cash for consulting services rendered in January. b. Issued common stock to investors for $15,000 cash. c. Purchased $16,100 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $12,500 cash for consulting services to be performed in February. e. Bought and received $1,550 of supplies on account. f. Received utility bill for January for $1,960, due February 15. g. Consulted for customers in January for fees totaling $19,600, due in February. h. Received $14,300 cash for consulting services rendered in December. i. Paid $775 toward supplies purchased in (e). E3-19 (Algo) Creating an Unadjusted Trial Balance [LO 3-4) Required: Prepare an unadjusted trial balance for Tongo, Incorporated for the month ended January 31. Account Name TONGO, INCORPORATED Unadjusted Trial Balance Debit Credit +
More info Dec. 1 Cameron contributed $21,000 cash in exchange for capital. 2 Received $2,400 cash from customers for services performed. 5 Paid $350 cash for office supplies. 9 Performed services for a customer and billed the customer for services rendered, $1,500. 10 Received $100 invoice for utilities due in two weeks. 15 Paid for advertising in the local paper, $300. 20 Paid utility invoice received on Dec. 10. 25 Collected cash in full from customer billed on Dec. 9. 28 Paid rent for the month, $2,800. 28 Paid $1,100 to assistant for wages. 30 Received $2,800 cash from customers for services performed. 31 Cameron withdrew $4,500. Print Done
Please follow the same sample which I attached
Journal entries
form the Journal entry of the given transaction: date/s transaction debit credit Sep-02 Garcia invested P30,000 cash to start his business. 2 Purchased medical Supplies on account, P10,000 3 Paid monthly office rent of P4,000. 4 Recorded P5,000 revenue for service rendered to patients: received cash of P2,000 and sent bills to patients for the remainder. 10 Borrowed P50,000 from the bank, signing a note payable 15 Performed service for patients on account, P3,600 22 Received cash from patients billed on September 3, P2,000 25 Received and paid a utility bill, P200 26 Paid monthly salary to nurses, P3,000 30 Paid interest expense of P200
Financial Transactions: Journalize the following transactions that occurred during the year: January 1: Received $100,000 cash in exchange for common stock. January 1: Purchased a delivery truck for $36,000 by paying $6,000 in cash and signing a note f remainder. January 15: Purchased $1,200 of supplies on account July 1: Paid $12,000 for an annual insurance policy. December 31: Made sales of $500,000 on the account. The Cost of Goods Sold was $300,000.
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…
]Each month, $150 is available in petty cash funds for small office expenditures. Expenses paid from petty cash during the month are listed below. Postage $26.00 Office supplies $46.25 Delivery charge $ 9.50 Physician’s parking fee $12.00 What is the total for expenditures for the month from petty cash? Round your answer to the nearest cent and do not include the dollar sign ($) in your answer.
Problem #6, occurred during June of this year: P1,000 in cash and the balance on account. Bought office intercom on account from NE Office Supply, P2,750. e. Received and paid the telephone bill, P1,080. T. Performed professional services on account, P12,940. g. Received and paid the electric bill, P1,850. h. Received and paid the bill for the Regional Dental Convention, P3,500. i. Performed professional services for cash, P17,650. J. Partially settled accounts with NE Office Supply, P1,000. k. Paid rent for the month, P8,400. Paid salaries of the part-time receptionist, P3,500. m. Dalangin withdrew cash for personal use, P8,500. Received P5,500 on account from patients who were previously billed. I. n. Required: 1. Establish the following T-accounts: Cash; Accounts Receivable; Office Equipme Office Furniture; Accounts Payable; Dalangin, Capital; Dalangin, WithdrawG Professional Fees; Salaries Expense; Rent Expense; Utilities Expense a Miscellaneous Expense. 2. Record the transactions…
REQUIREMENT: JOURNAL ENTRIES
Dec. 2 Paid $1,060 cash to Northview Mall for Security First’ share of mall advertising costs. Dec. 3 Paid $520 cash for minor repairs to the company’s computer. Dec. 4 Received $6,900 cash from Brady Engineering Co. for the receivable from November. Dec. 10 Paid cash to Zahara Hughes for six days of work at the rate of $160 per day. Dec. 14 Notified by Brady Engineering Co. that Security First’ bid of $7,100 on a proposed project has been accepted. Brady paid a $1,550 cash advance to Security First. Dec. 15 Purchased $2,250 of computer supplies on credit from Arnold Office Products. Dec. 16 Sent a reminder to Jackson Co. to pay the fee for services recorded on November 8. Dec. 20 Completed a project for Masters Corporation and received $7,900 cash. Dec. 22-26 Took the week off for the holidays. Dec. 28 Received $4,400 cash from Jackson Co. on its receivable. Dec. 29 Reimbursed K. Hughes for business automobile mileage…
Petty cash fund had an opening balance of RO 300. During the month the receipts were RO 70 staff welfare, RO 75 petrol, 80 office stationery, and 45 travelling and there was RO 20 left in the petty cash box. If the petty cash fund is raised to RO 500 per month then how much is the amount required to be refill? a. RO 470 b. RO 280 c. RO 380 d. RO 480