Required information[The following information applies to the questionsdisplayed below.]The transactions of Belle Company's appear below.1. D. Belle created a new business and invested $6,400Ocash, $6,000 of equipment, and $12,400 in web servers.2. The company paid $5,300 cash in advance for prepaidinsurance coverage.3. The company purchased $600 of supplies on credit.4. The company paid $800 cash for selling expenses.5. The company received $5,000 cash for servicesprovided.6. The company paid $600 cash toward accounts payable.7. The company paid $3,000 cash for equipment.Fill in each of the following T-accounts for Belle Company'sseven transactions listed here. The T-accounts represent BelleCompany's general ledger. Code each entry with transactionnumber 1 through 7 (in order) for reference.CashEnding balanceEnding balancePrepaid InsuranceEnding balanceEnding balanceWeb ServersAcEnding balanceEnding balanceD. Belle, CapitalServEnding balanceEnding balance 1. D. Belle created a new business and invested $6,400cash, $6,000 of equipment, and $12,400 in web servers.2. The company paid $5,300 cash in advance for prepaidinsurance coverage.3. The company purchased $600 of supplies on credit.4. The company paid $800 cash for selling expenses.5. The company received $5,000 cash for servicesprovided.6. The company paid $600 cash toward accounts payable.7. The company paid $3,000 cash for equipment.Fill in each of the following T-accounts for Belle Company'sseven transactions listed here. The T-accounts represent BelleCompany's general ledger. Code each entry with transactionnumber 1 through 7 (in order) for reference.CashEnding balanceEnding balancePrepaid InsuranceEEnding balanceEnding balanceWeb ServersAccoEnding balanceEnding balanceD. Belle, CapitalServiEnding balanceEnding balanceSelling ExpenseEnding balance

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Description: Required information[The following information applies to the questionsdisplayed below.]The transactions of Belle Company's appear below.1. D. Belle created a new business and invested $6,400Ocash, $6,000 of equipment, and $12,400 in web servers.2.

The T-accounts are prepared as posting the transactions from journal to specific T-accounts of the…

Business

Accounting

displayed below.] The transactions of Belle Company's appear below. 1. D. Belle created a new business and invested $6,40o cash, $6,000 of equipment, and $12,400 in web servers. 2. The company paid $5,300 cash in advance for prepaid insurance coverage. 3. The company purchased $600 of supplies on credit. 4. The company paid $800 cash for selling expenses. 5. The company received $5,000 cash for services provided. 6. The company paid $600 cash toward accounts payable. 7. The company paid $3,000 cash for equipment.

displayed below.] The transactions of Belle Company's appear below. 1. D. Belle created a new business and invested $6,40o cash, $6,000 of equipment, and $12,400 in web servers. 2. The company paid $5,300 cash in advance for prepaid insurance coverage. 3. The company purchased $600 of supplies on credit. 4. The company paid $800 cash for selling expenses. 5. The company received $5,000 cash for services provided. 6. The company paid $600 cash toward accounts payable. 7. The company paid $3,000 cash for equipment.

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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Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $63,000 cash and equipment valued at $39,000 in the company. b. The company purchased a building for $41,000 cash. c. The company purchased equipment for $5,400 cash. d. The company purchased $3,100 of supplies and $1,100 of equipment on credit. e. The company paid $870 cash for advertising expenses. f. The company completed a financial plan for a client and billed that client $4,600 for the service. g. The company designed a financial plan for another client and immediately collected a $8,400 cash fee. h. L. Lopez withdrew $1,400 cash from the company for personal use. i. The company received $3,600 cash as partial payment from the client described in transaction f j. The company made a partial payment of $550 cash on the equipment purchased in transaction d k. The company paid $1,800 cash for the secretary's wages for this period.…
Show all your workings.
I invest $10,000 in a new company. The company then gets a bank loan for $5,000. The company then buys a machine for $3,000 and inventory for $2,000. Create a balance sheet for the company.
A customer buys a company product on the internet for $1,000 with bitcoins. At the end of the year he bit coins are worth $5,000. The company's income statements show sales of $1,000. Why?
A company has posted the following transaction: Debit Equipment 7000; Credit Accounts Payable 2000; Credit Cash 4000; and Credit Bank 1000. Which of the following best describes the actual transaction? Select one: a. The company purchased equipment for 7000, paying 4000 in cash, 1000 in cheque, and the remaining on credit. b. The company sold equipment worth 7000, receiving 4000 in cash and 2000 still owed. c. The company purchased equipment for 7000, paying 4000 in cash and the remaining 2000 is to be paid later. ↓ d. The company purchased equipment for 7000 entirely on credit.
Krespy Corp. has a cash balance of $7,500 before the following transactions occur:- received customer payments of $965 supplies purchased on account $435 services worth $850 performed, 25% is paid in cash the rest will be billed corporation pays $275 for an ad in the newspaper bill is received for electricity used $235. dividends of $2,500 are distributed What is the balance in cash after these transactions are journalized and posted?
II. Computational. Look for the balances of the different accounts using the following transactions: A) Invested P50,000 in the business. B) Bought supplies on account amounting to P9,850. C) Received 7,500 cash from clients on account. D) Billed a client for the service rendered P6,000. E) Hired an assistant at a salary of P7,000 per month. Look for the ending of cash. Look for the ending balanceofcash.
Required information [The following information applies to the questions displayed below.] The transactions of Belle Company appear below. 1. D. Belle created a new business and invested $5,600 cash, $6,000 of equipment, and $11,100 in web servers in exchange for common stock. 2. The company paid $4,600 cash in advance for prepaid insurance coverage. 3. The company purchased $800 of supplies on credit. 4. The company paid $600 cash for selling expenses. 5. The company received $5,200 cash for services provided. 6. The company paid $800 cash toward accounts payable. 7. The company paid $3,300 cash for equipment. Use above information to prepare general journal entries for Belle Company's 1 through 7 transactions. View transaction list Journal entry worksheet A C D F G > Record the owner investment.
9 Maxwell Furniture Centre had accounts receivable of $20000 at the beginning of the year and $54000 at year-end. Sales on credit for the year totalled $116000. How much cash did the business collect from customers? a $150 000 b $62 000 C $116000 d $82000
Give its general ledgers and financial statements
Required Information View transaction list Journal entry worksheet A в . с Transaction 1. CD Record the owner Investment. Note: Enter debits before credits. Record entry DE F General Journal Clear entry G Debit Credit View general Journal