Web ServersService RevenueEnd. bal.End. bal.Prepaid InsuranceAccounts PayableEnd. bal.End. bal.Selling ExpenseEnd. bal. Fill in each of following T-accounts for Belle Co's seven transactions listed here. The T-accounts represent Belle Co.'s general ledger.Code each entry with transaction number 1 through 7 (in order) for reference.1. D. Belle created a new business and invested $6,300 cash, $7,800 of equipment, and $12,700 in web servers.2. The company paid $5,700 cash in advance for prepaid insurance coverage.3. The company purchased $700 of supplies on account.4. The company paid $900 cash for selling expenses.5. The company received $4,100 cash for services provided.6. The company paid $700 cash toward accounts payable.7. The company paid $2,900 cash for equipment.CashEquipmentEnd. bal.End. bal.D.Belle, CapitalSuppliesEnd. bal.End. bal.

T accounts are the general ledger accounts which are setup for the purpose of classification of…

Answered: Fill in each of following T-accounts…

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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The company takes out a $1,000,000 loan from the bank. Provide the journal entry that would be necessary to record the transaction.
Les Stanley established an insurance agency on July 1, 20Y5, and completed the following transactions during July: Opened a business bank account in the name of Stanley Insurance Inc., with a deposit of $65,000 in exchange for common stock. Borrowed $120,000 by issuing a note payable. Received cash from fees earned, $40,000. Paid rent on office and equipment for the month, $5,000. Provided service to customers on account, $ 20,000. Paid automobile expense for the month, $3,500, and miscellaneous expense, $1,000. Paid office salaries, $6,500. Paid interest on the note payable, $500. Purchased land as a future building site, paying cash of $100,000. Paid dividends, $3,000. Instructions Indicate the effect of each transaction and the balances after each transaction, using the integrated financial statement framework
Prepare an income statement for April.
Prepare general journal entries for the following transactions of a new company called Pose-for-Pics. Use the following partial chart of accounts: Cash; Supplies; Prepaid Insurance; Equipment; M. Harris, Capital; Services Revenue; and Utilities Expense. Aug. 1 M. Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company. The company paid $2,100 cash for an insurance policy covering the next 24 months. The company purchased supplies for $880 cash. ots ofant The company received $3,331 cash from taking photos for customers. 31 The company paid $675 cash for August utilities. 2 5 20 mot Rost goneral iournal entries that impact cash
Deb Kelley opens a web consulting business called Smart Deals andcompletes the following transactions in its first month of operations.Prepare journal entries for each transaction and identify the financialstatement impact of each entry. The financial statements are automatically generated based on thejournal entries recorded.Apr. 1 Kelley invested $110,000 cash along with officeequipment valued at $31,000 in the company.Apr. 2 The company prepaid $15,000 cash for 12 months' rent foroffice space. The company's policy is record prepaidexpenses in balance sheet accounts.Apr. 3 The company made credit purchases for $9,000 in officeequipment and $4,600 in office supplies. Payment is duewithin 10 days.Apr. 6 The company completed services for a client andimmediately received $7,000 cash.Apr. 9 The company completed a $11,000 project for a client,who must pay within 30 days.Apr. 13 The company paid $13,600 cash to settle the accountpayable created on April 3.Apr. 19 The company paid $4,800…
Required Informatlon [The following Information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,010 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash withdrawals by owner Consulting revenue Cash $14,8980 930 Accounts receivable 12,820 12,820 Office supplies 2,290 Rent expense 2,530 Land 45,960 Salaries expense 5,780 Office equipment Accounts payable Telephone expense Miscellaneous expenses 16,900 790 7,678 610 Owner investments 83,010 Using the above Information prepare an October Income statement for the business. ERN ST CON SULTING Income Statement
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.
Submit correct and complete solutions. give propriate Explanation. Provide step-by-step detailed explanations.
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
Required information [The following information applies to the questions displayed below.] The transactions of Belle Company's appear below. 1. D. Belle created a new business and invested $6,400 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. Fill in each of the following T-accounts for Belle Company's seven transactions listed here. The T-accounts represent Belle Company's general ledger. Code each entry with transaction number 1 through 7 (in order) for reference. Cash Ending balance Ending balance Prepaid Insurance Ending balance Ending balance Web Servers Ac Ending balance Ending balance D. Belle, Capital Serv Ending balance Ending balance…
JOURNAL ENTRIES, LEDGERS, AND TRIAL BALANCE After opening their computer sales and service store, the Millers completed the following four transactions: 1. They invested $100,000 in cash in the business. 2. They purchased on credit $10,000 worth of goods from several suppliers. 3. They sold on a cash basis $13,000 worth of products and services. 4. They paid $3,000 for salaries. Use the above information to prepare the following: 1. Journal entries 2. Ledgers 3. Trial balance

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