mans a Showbiz Video is a business owned by Greg Failla. The transactions ftha. follow are shown as they would appear in the accounting equation. INSTRUCTIONS In your working papers, describe what has happened each transaction. Transaction 1 is completed as an example. Example: 1. The owner invested $30,000 in the business. onwo

mans a Showbiz Video is a business owned by Greg Failla. The transactions ftha. follow are shown as they would appear in the accounting equation. INSTRUCTIONS In your working papers, describe what has happened each transaction. Transaction 1 is completed as an example. Example: 1. The owner invested $30,000 in the business. onwo

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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CHALLENGE YOURSELF! Tasks 7-9. Application. Journalize, post and prepare trial balance of the accounting transactions below. Write your answer on the separate sheet of paper. July 1 Zoe, the owner, invested the following into the business; cash of Php 500,000, merchandise worth Php 60,000; and store furniture and fixture with fair market value of Php 100,000. 3 Sold to Ram merchandise worh Php 21,000 on terms 2/10, n/30 4 9 Purchased from Dragon Office Supplies worth Php 3,600 terms 2/5, n/20 Purchased form Ox merchandise for Php 42,000, terms 2/10, n/30 Paid the account with Dragon in full. 21 22 Purchased from Tiger merchandise worth Php 14,700 issuing a 10% 20 day note. Collected in full the account of Ram 29 Paid in full the account with Ox. Required: 1. Journalize the following selected transactions of Zodiac Trading for the month of July 2015 using the general journal. 2. Post to the general ledger. 3. Prepare the trial balance as of July 31, 2015. 25
After journalizing and posting (to T-accounts) the transactions below, you are to answer the succeeding questions. Attach your solution/analysis. Remedios Palaganas is an experienced events planner. The transactions and accounts for the business are as follows: a. Invested P100,000 in cash to start her own business. b. Paid P5,000 for one month's rent. c. Bought office furniture for P15,000 in cash. d. Received delivery of laptop computer, P54,000. Paid 50% down, balance due in 30 days. e. Performed services for P12,000 in cash. f. Performed services for P10,800 on credit. g. Acquired a fax machine for P7,500; paid P3,000 in cash, balance due in 10 days. h. Received P5,400 from clients on account. i. Paid P10,000 for salaries. j. Settled in full the P4,500 balance for the fax machine. k. Received P7,000 in cash for services performed. I. Performed services for P12,000 on credit. m. Paid P1,350 for the monthly telephone bill. n. Paid P2,400 for the electric and water bills. o. Collected…
i am doing chart of accounting general journal, 4/3 Paid the Gazette $200 to place an employment advertisement for an accounting clerk. how to solve this problem? with puting into general journal as debit and credit side
In at least 200-300 words.
Can I please get assistance with the second part of this question. Also if its not to much to ask can you please share a little infomation how how you got the solution so I can help learn this better. Given Data: Gabi Gram started The Gram Company, a new business that began operations on May 1. The Gram Company completed the following transactions during its first month of operations. May 1 Gabi Gram invested $44,500 cash in the company. May 1 The company rented a furnished office and paid $2,400 cash for May’s rent. May 3 The company purchased $1,900 of equipment on credit. May 5 The company paid $740 cash for this month’s cleaning services. May 8 The company provided consulting services for a client and immediately collected $5,800 cash. May 12 The company provided $2,900 of consulting services for a client on credit. May 15 The company paid $740 cash for an assistant’s salary for the first half of this month. May 20 The company received $2,900 cash payment for…
Hi! My name is Jessica and I have a income chart I need to fill out but... I don't know where to put anything and I feel like some things are out of place because it isn't balanced. Can you help me?
Please do not give solution in image format thanku
Ash Traynor opened a Pokèmon dress shop called Pokėshoppe. During the first month of operations, the following transactions were completed. The following account titles are strictly to be used. Accounts Payable Utilities Expense Unused Supplies Prepaid Rent Sewing Equipment Cash Traynor, Capital Traynor, Drawings Permits and Licenses Accounts Receivable Advances to Employees Salaries Expense Shop Tools Service Income Repairs and Maintenance Furniture and Fixtures o b inib i to 2015 Traynor invested the following in the dress shop: Cash, P30,000, a sewing machine appraised at P18,000, shop furniture appraised at P15,000, shop tools appraised at P7,500, an unused supplies worth P2,500. Paid P18,000 as rent for the leased space for three months. Bought for cash: additional shop tools for P2,500 and supplies for P1,800. Bought from Kakuna Japan Surplus a second hand sewing machine for P6,000. Term: 20 days. Traynor increased her investment by putting in additional cash of P15,000.…
With the information given from the first picture, I need the general ledger filled out, although with how the second pictures showing the layout. I need the transaction of the general ledger in cash, office supplies, office equipment, accounts payable, Diane Bernick capital, Diane Bernice drawing, consulting fees, wage expense, rent expense, phone expense, utilities expense, and miscellaneous expense, thank you!