im Arnold began a business called Amold's Shoe Repair.1. Complete the T accounts for Cash; Supplies; Jim Arnold, Capital; and utilities Expense. Identify the following transactions by letter and place them on the proper side of the T accounts:a. Invested cash in the business, $6,300.b. Purchased supplies for cash, $800.c. Paid utility bill, $1,500.2. Foot the T account for cash and enter the ending balance.CashBal.Foudbackxa.a.XSuppliesJim Arnold, CapitalXUtilities ExpenseCheck My Work 4 mora Chack My Work usas ramainingYXChuck My WorkTo determine the balance of a T account at any time, simply total the dollar amounts on the debit and credit sides. These totals are known as footings. The difference between the footings is called the balancewith the larger footing.MAll work saved.

im Arnold began a business called Amold's Shoe Repair, 1. Complete the T accounts for Cash; Supplies; Jim Arnold, Capital; and utilities Expense. Identify the following transactions by letter and place them on the proper side of the T accounts a. Invested cash in the business, $6,300. b. Purchased supplies for cash, $800. c. Paid utility bill, $1,500. 2. Foot the T account for cash and enter the ending balance. Cash X Bal X Jim Arnold, Capital Supplies

im Arnold began a business called Amold's Shoe Repair, 1. Complete the T accounts for Cash; Supplies; Jim Arnold, Capital; and utilities Expense. Identify the following transactions by letter and place them on the proper side of the T accounts a. Invested cash in the business, $6,300. b. Purchased supplies for cash, $800. c. Paid utility bill, $1,500. 2. Foot the T account for cash and enter the ending balance. Cash X Bal X Jim Arnold, Capital Supplies

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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Identify which account would be debited and credited to record each transaction occurred at Forever Green Lawn Service. The first transaction has been completed as an example. Transactions Debit Credit Ex. Issued a check for monthly rent. Rent Expense Cash 1. Purchased supplies on account. 2. Purchased new equipment, issuing a check for a down payment, with balance due in thirty days. 3. Provided services on account. 4. Purchase supplies for cash. 5. Issued a check to pay a creditor on account. 6. Collected payment from credit customer. 7. Issued checks to pay employees their monthly salaries. 8. Performed services for cash. 9. Received cash for damaged supplies returned. 10. Issued a check to pay the telephone bill.
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What is the journal entry?
n its fiscal 2010 balance sheet, Big Lots, Inc., reported cash and cash equivalents at the start of the year of $283,733 thousand. By the end of the year, the cash and cash equivalents had decreased to $177,539 thousand. The company's statement of cash flows reported cash from operating activities of $315,257 thousand, cash from financing activities of ($306,899) thousand. What amount did the company report for cash from investing activities? Select one: a. $8,358 thousand cash inflow b. $106,194 thousand cash outflow c. $114,552 thousand cash outflow d. $114,552 thousand cash inflow e. None of the above.