Kitty Fluffington, opened a feline only grooming salon. During the the month Kitty completed the following transactions connected to her professional practice. Insructions: A: Complete the proper adusting entry. 1. Supplies used during the month: $450 2. Fees earned but not paid: $2,500 3. Depreciation of equipment: $175 4. Unearned rent has a beginning balance of $500 and $150 was earned.

Kitty Fluffington, opened a feline only grooming salon. During the the month Kitty completed the following transactions connected to her professional practice. Insructions: A: Complete the proper adusting entry. 1. Supplies used during the month: $450 2. Fees earned but not paid: $2,500 3. Depreciation of equipment: $175 4. Unearned rent has a beginning balance of $500 and $150 was earned.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

during january mary dolan, a subcontractor, prodived pet care services to julie's honey for three fridays in janaury, totaling 24 hours at $10 per hour. ck overlooked recording this subcontractor expense since mary had not been paid for these services yet. so at january 31, an adjusting entry is needed to record subcontractor expense that will be paid later. in the future, ck is hoping that the qbo time tracking will assist in avoiding these types of oversights going forward. What is the journal entry needed?
rr
9-4 Office Rental, Inc. owns an office building that it rents to Watson Company. The building is in a location that is not very desirable. To provide an incentive for Watson to rent the building, Office Rental, Inc. collects rent at the end of each 6 months. The following is data for the office building: Office Building – Located at 123 ItsADump Drive Rental rate ........................................................................................ $450 per month Date when the 6 months of rent for January to June is collected ...... June 30 Date when the 6 months of rent for July to December is collected .... December 31 The office building located at 123 ItsADump Drive is the only rental property owned by Office Rental, Inc. After making the April 30, 2021 Rent Receivable adjusting entry, the balance in Office Rental Inc.’s Rent Receivable account is $1,800. This balance represents 4 month’s (Jan., Feb., Mar., Apr.) of rent due from Watson. The following is a partial list of the…
On september 1 sara para paid we kill em company $800 in advance for pest conrol services since she had a roach and ants infestation. On decembe 31 sara had used $485 worth of services. a. Journalize the journal entries on September 1 and december 31 for sara para. b. journalize the journal entries on september 1 and december 31 for we kill em. co. c. If the adjusing entry for sara para is not made, how will this affect her income statement and balance sheet. d. if the adjusting entry for we kill em co. is not made, how will this affect their income statement and balance sheet.
Bev's Dry Cleaners is owned and operated by Beverly Zahn. A building and equipment are currently being rented, pending expansion to new facilities. The actual work of dry cleaning is done by another company for a fee. The assets and the liabilities of the business on November 1, 2 as follows: Cash, $16,380; Accounts Receivable, $33,540; Supplies, $3,120; Land, $39,000; Acounts payable, $14,040. Business transactions during November are summarized as follows: a. Beverly Zahn invested additional cash in the business with a deposit of $31,000 in the business bank account. b. Purchased land adjacent to land currently owned by Bev's Dry Cleaners to use in the future as a parking lot, paying cash of $15,400. c. Paid rent for the month, $11,230. d. Charged customers for dry cleaning revenue on account, $31,820. e. Paid creditors on account, $13,100. f. Purchased supplies on account, $5,620. g. Received cash from cash customers for dry cleaning revenue, $29,950. h. Received cash from customers…
The following transactions are July activities of Bill’s Extreme Bowling, Incorporated, which operates several bowling centers. Bill's paid $1,500 to a plumbing company on the day of repairing a broken pipe in the restrooms. Bill's paid $2,000 for the June electricity bill and received the July bill for $2,500, which will be paid in August. Bill's paid $5,475 to employees for work in July. Required:Prepare journal entries to record the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Brushstroke Art Studio, Inc., provides quality instruction to aspiring artists. The business adjusts its accounts monthly, but performs closing entries annually on December 31. This is the studio’s unadjusted trial balance dated December 31, current year. Other Data1. Supplies on hand at December 31, current year, total $1,000. 2. The studio pays rent quarterly (every three months). The last payment was made November 1, current year. The next payment will be made early in February, next year. 3. Studio equipment is being depreciated over 120 months (10 years). 4. On October 1, current year, the studio borrowed $24,000 by signing a 12-month, 12 percent note payable. The entire amount, plus interest, is due on September 30, next year. 5. At December 31, current year, $3,000 of previously unearned client fees had been earned. 6. Accrued, but unrecorded and uncollected client fees earned total $690 at December 31, current year. 7. Accrued, but unrecorded and unpaid salary expense totals…
don't give answer in image format
The following events occurred for Palette Painters, Inc: September 18 Purchased paint on account. October 7 A customer signed a contract to have her house painted. October 24 Palette Painters paid for the paint purchased on account on September 18th. October 30 The customer paid Palette Painters for the work contracted for on October 7. November 5 Palette Painters painted the customer’s house. According to the Revenue Recognition and Matching Principles, Palette Painters, Inc. should record Group of answer choices A. the revenue in November and the expense in September. B. The revenue and expenses in October. C. The revenue in October and the expenses in September. D. The revenue and expenses in November.
Plumb Line Surveyors provides survey work for construction projects. The office staff use office supplies, while surveying crews use field supplies. Purchases on account completed by Plumb Line Surveyors during May are as follows: May 1. Purchased field supplies on account from Wendell Co., $3,240. 3. Purchased office supplies on account from Lassiter Co., $340. 8. Purchased field supplies on account from Tri Cities Supplies, $4,500. 12. Purchased field supplies on account from Wendell Co., $3,670. 15. Purchased office supplies on account from J-Mart Co., $500. 19. Purchased office equipment on account from Accu-Vision Supply Co., $8,150. 23. Purchased field supplies on account from Tri Cities Supplies, $2,450. 26. Purchased office supplies on account from J-Mart Co., $265. 30. Purchased field supplies on account from Tri Cities Supplies, $3,040. Instructions 1. Insert the following balances in the general ledger as of May 1: $ 6,200 1,490 14 Field Supplies 15 Office Supplies 18 Office…
On February 13, GTS Co. paid $2,300 to repair the transmission on one of its delivery vans. In addition, GTS paid $36 to install a GPS system in its van. Question Content Area Journalize the entries for the transmission. If an amount box does not require an entry, leave it blank. Date Account Debit Credit February 13 Feedback Area Feedback Question Content Area Journalize the entry for GPS system expenditures. If an amount box does not require an entry, leave it blank. Date Account Debit Credit February 13
i am doing chart of accounting general journal, 4/10 Paid Culvers Landscaping $150 to plant flowers around the office entrance. 4/11 Received $4,500 for assisting Delphi Company’s bookkeeper in setting up their company accounting system. 4/13 Paid for repairs to the brakes of the company auto, $145. (Note: This is not an asset.) 4/15 Paid the Staples bill for the office supplies purchased on 4/3. 4/15 Paid employee salaries of $850. 4/15 Received $6,900 from Transport Iowa Inc. for setting up their QuickBooks accounts. 4/16 Purchased an additional computer from Best Buy for $350. how to solve this problem? with puting into general journal as debit and credit side