James invested additional $7,800 cash and car valued at $10,600 into the firm. What accounts does this go into in the journal?
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James invested additional $7,800 cash and car valued at $10,600 into the firm.
What accounts does this go into in the journal?
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- From the following information, pass necessary journal entries in the books of Mr. X for August, 2021 1. Introduced capital in the form of Cash-Tk. 50,000.00,Furniture-Tk. 9,000.00, Supplies-Tk. 3,500.00 and depositing Tk. 6,000.00 in Bank. 2. Purchase Tk. 40,000.00 3. Purchased from M/S Karim Tk. 90,000.00, terms being 2/5, net 25 4. Cash Sales Tk. 49,000.00 5. Sold to M/S Rahman Tk. 50,000.00 Terms 3/10, net 30 6. Paid M/S Karim within discounting period 7. Payment received from M/S Karim within discounting period 8. Cash purchase Tk. 45,000.00 inclusive of Tk. 4,000.00 for Mr X 9. Cash drawn from Bank Tk. 2,000.00 10. Monthly wages Tk. 12,000.00, paid wages Tk 15,000.00 11. Yearly Insurance premium paid Tk. 18,000.00 12. Monthly rent payable Tk. 30,000.00, paid 25,000.00Record the following transaction in the transaction analysis chart: Shawna Portia bought a new piece of computer equipment for $25,000, paying $6,000 down and charging the rest.Mr. Tristan Siy III established Siy Bookkeeping Services and had the following transactions for the month of February: 4 19 15 18 19 Received P35,000 cash from customers in payment of their account. Paid in cash and received an official receipt 20 from the supplier for payment of accounts, 21 28 28 Investment of P150,000 cash fund by Mr. Siy into the business. 28 Received a Charge Invoice from a supplier for the purchase of a desktop computer amounting to P32,500. The computer is estimated to be useful for five years and have a salvage value of P2,500 thereafter. Purchased supplies amounting to P18,000 in cash. Paid P6,000 insurance for six months. Issued a Service Invoice for an amount of P50,000 to a customer for services rendered on account. P20,000. Rendered services to customers billed for P30,000. Cash payment of P15,000 for the salary of an employee. Mr. Siy withdrew P12,000 cash from the business. Paid the telephone bill for February amounting to P3,000.
- hey I need help figuring out the numbers for these accounting homework assignments. Clint M. Invests $30,000. Into Merle company. The effect to Liabilities would be: ( Type your numeric number) Clint M. Invests $30,000 into Merle Company. The effect to Equity would be: (Type your numeric number) Merle company purchases s piece of equipment for $5,000 on account. The effect to Assets would be: (Type your numeric answer) Merle company purchases a piece of equipment for $5,000. The effect to Liabilities would be: (Type your numeric answer) Merle Company purchases a piece of equipment for $5,000 on account. The effect to Equit would be: (type your numeric answer)Prepare a statement of cash flows.Mia Toretto has been in business since 1st January 2020. The following is a list of her transaction for January 2020: 1/1/2020 Capital of RM30,000 paid into a business bank account. 2/1/2020 Van purchased on credit from Lang for RM5,000. 6/1/2020 Goods purchased on credit from Green for RM15,000. 10/1/2020 Cheque drawn on the bank for RM1,000 in order to open a petty cash account. 14/1/2020 Goods sold on credit for RM6,000 o Haddock. 18/1/2020 Cash sales of RM5,000. 20/1/2020 Cash purchases of Rm3,000. 22/1/2020 Miscellaneous expenses of RM500 paid out of petty cash. 25/1/2020 Lang’s account settled by cheque. 28/1/2020 Green allows Mia Toretto a cash discount of RM500. 29/1/2020 Green sent a cheque for RM10,000. 30/1/2020 Haddock is allowed a cash discount of RM600. 31/1/2020 Haddock settles his account in cash. Required: Enter the above transaction in Mia Toretto’s ledger accounts.
- Make Ledger of the following transactions. Ali purchased land for Business for $35,000. Paid $20,000 cash. Balance will be paid as account payable. Purchased additional machinery for Business for $10,000 on cash. Purchased wood stock for $45,000, paid $35,000 cash and signed a note payable for balance. Obtained a lone from Supreme Bank in the amount of $50,000. Signed a note payable. Paid $15,000 Accounts payable and $30,000 of Note Payable.Mark Young opens his own company, Sunrise Travel and Tours, and completes the following transactions in December 2020: a. Deposited Php 150,000.00 for Sunrise Travel and Tours. b. Purchased office supplies on account, Php 75,000.00. c. Paid creditors on account, Php 45,000.00 d. Received cash from the provision of ticketing and tour services to clients, Php 95,000.00. e. Billed clients on account worth Php 135,000.00 for services performed. f. Determined that the cost of supplies on hand at the end of the month was P 35,500.00. g. Paid office rent, Php 10,000.00. h. Paid utilities expenses for December, Php 5,500.00 and miscellaneous expense, Php 1,000.00. i. Paid office salaries Php 15,000.00. j. Withdrew cash for personal use, Php 7,500 Indicate the effect of each transaction to the accounting equation elements and accounts using the following tabular headings. Write the balances after each transaction and the total…Illustrate how the transaction affects the accounting equation: Reyes, the owner, made a cash withdrawal of 5000php for personal use.