Identifying source documents For each transaction, identify a possible source document. a. The business received $20,000 cash and issued common stock to stockholders. b. Purchased office supplies on account, $500. c. Recorded $1,000 revenue for services rendered to customers.

Identifying source documents For each transaction, identify a possible source document. a. The business received $20,000 cash and issued common stock to stockholders. b. Purchased office supplies on account, $500. c. Recorded $1,000 revenue for services rendered to customers.

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Description: Identifying source documentsFor each transaction, identify a possible source document.a. The business received $20,000 cash and issued common stock to stockholders.b. Purchased office supplies on account, $500.c. Recorded $1,000 revenue for services

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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Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 2-30 are as follows: Apr. 2. Issued Invoice No. 793 to Ohr Co., $4,680. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $1,990. Apr. 13. Issued Invoice No. 795 to Shilo Co., $3,450. Post revenue and collections to the accounts receivable subsidiary ledger. Apr. 15. Received cash from Pinecrest Co. for the balance owed on April 1 Apr. 16. Issued Invoice No. 796 to Pinecrest Co., $5,500. Post revenue and collections to the accounts receivable subsidiary ledger. Apr. 19. Received cash from Ohr Co. for the balance due on invoice of April 2 Apr. 20. Received cash from Pinecrest Co. for balance due on invoice of April 6 Apr. 22. Issued Invoice No. 797 to Mendez Co., $7,470. Apr. 25. Received $3,200 note receivable in…
Required: Prepare the journal entries for each of these transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 1 2 Transaction a. Note: Enter debits before credits. 3 The firm was organized and the stockholders invested cash of $8,800. Record entry 4 5 6 7 General Journal 8 Clear entry Assessment Tool iFrame Debit 14 Credit View general journal
The following revenue transactions occurred during November: Nov. 3. Issued Invoice No. 73 to Darcy Co. for services provided on account, $436. 12. Issued Invoice No. 74 to Garrison Enterprises for services provided on account, $153. 28. Issued Invoice No. 75 to Kingston Inc. for services provided on account, $703. Record these three transactions in the following revenue journal. REVENUE JOURNAL DATE Invoice No. Account Debited Post. Ref. Accounts Rec. Dr.Fees Earned Cr. Nov. 3 fill in the blank 1 fill in the blank 3 Nov. 12 fill in the blank 4 fill in the blank 6 Nov. 28 fill in the blank 7 fill in the blank 9
Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); ACcounts Payable (201); D. Brooks, Capital (301); D. Brooks, Withdrawals (302); Services Revenue (403); and Utilities Expense (690). View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 12 > Brooks invested $200,000 cash along with $28,000 in office equipment in the company. Note: Enter debits before credits. Date General Journal Debit Credit Mar 01
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for each entry. (Record debits first, then credits Seled the explanation on the last line of the journal entry table.) Apr. 4: Collected $1.500 cash rom a cient on account Date Accounts and Explanation Debit Credit Apr. 4 Cash 1.500 Accounts Recelvable 1.500 Received cash on account Apr. 8 Performed tax services for a client on account $3.000 Date Accounts and Explanation Debit Credit Accounts Recelvable 3,800 Ap Senvice Revenue 3.00 Performed aenvices on account Apr. 13 Paid $1.100 on account Date Accounts and Explanation Debit Credit Apr 13 Acceunts Payable 2,400 Cash 2.400 Choose from any ist or enter any number in the input feids and then click Check Answer
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takeAssign a. b. C. signmer Show the effects of each transaction on the accounting equation by indicating under the proper heading the dollar amount of Increase or decrease for each transaction listed below. Compute the resulting accounting equation. ♡ d. e. f. 9. E D Owner deposited $20,000 in his new business checking account. Supplies were purchased for $300 on account. a. Paid a $1,200 premium for six months of liability insurance. Purchased supplies for $200 cash. Purchased equipment for $4,000 by paying $1,000; the rest to be paid in six months. Paid the $300 bill outstanding (from transaction b). Owner withdrew $700 from the business for personal use. b. C. d. e. S signment al R F Cash OL V C 12 89 10 % 5 T hvoker=&takeAssignmentSessionLocator=&inprogress=false G B + Y * H F7 7 N Supp. OL * CO 8 D M ASSETS + ((( 0 K 0 F10 W Alt Prep. Insur. F11 F12 JE P < Previous + PrtSc [ Next Insert 1 W Equip 2:01 PM 10/1/2022 Delete 3 Backspace En PgUp