Blossom Clark opened Blossom's Cleaning Service on July 1, 2022. During July, the following transactions were completed.July 1135121820212531Blossom invested $19,800 cash in the business.Purchased used equipment for $9,000, paying $3,900 cash and the balance on account.Purchased cleaning supplies for $1,900 on account.Paid $1,680 cash on a 1-year insurance policy effective July 1.Billed customers $4,600 for cleaning services.Paid $1,500 cash on amount owed on truck and $1,300 on amount owed on cleaning supplies.Paid $2,500 cash for employee salaries.Collected $3,500 cash from customers billed on July 12.Billed customers $6,100 for cleaning services.Paid $350 for monthly utilitiy bill for the equipment. (Use Utilities Expense.)31 Prepare a balance Worksheet with trial balancewith adding these …...Depreciation on equipment for the month was$4001/12 of the insurance expiredAn inventory count so 700 of cleaning supplieson hand July 31Old but unpaid employee salaries were $1020

Accounting equation is the fundamental concept being used in accounting. This says that total assets…

Prepare a balance Worksheet with trial balance with adding these .... Depreciation on equipment for the month was $400 1/12 of the insurance expired An inventory count so 700 of cleaning supplies on hand July 31 Old but unpaid employee salaries were $1020

Prepare a balance Worksheet with trial balance with adding these .... Depreciation on equipment for the month was $400 1/12 of the insurance expired An inventory count so 700 of cleaning supplies on hand July 31 Old but unpaid employee salaries were $1020

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 12PB: Prepare journal entries to record the following transactions that occurred in March: A. on first day...

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Lavender Company started its business on April 1, 2019. The following are the transactions that happened during the month of April. Prepare the journal entries in the journal on Page 1. A. The owners invested $7,500 from their personal account to the business account. B. Paid rent $600 with check #101. C. Initiated a petty cash fund $250 check #102. D. Received $350 cash for services rendered. E. Purchased office supplies for $125 with check #103. F. Purchased computer equipment $1,500, paid $500 with check #104, and will pay the remainder in 30 days. G. Received $750 cash for services rendered. H. Paid wages $375, check #105. I. Petty cash reimbursement Office Supplies $50, Maintenance Expense $80, Miscellaneous Expense $60. Cash on hand $8. Check #106. J. Increased Petty Cash by $70, check #107.
Domingo Company started its business on January 1, 2019. The following transactions occurred during the month of May. Prepare the journal entries in the journal on Page 1. A. The owners invested $10,000 from their personal account to the business account. B. Paid rent $500 with check #101. C. Initiated a petty cash fund $500 with check #102. D. Received $1,000 cash for services rendered. E. Purchased office supplies for $158 with check #103. F. Purchased computer equipment $2,500, paid $1,350 with check #104, and will pay the remainder in 30 days. G. Received $800 cash for services rendered. H. Paid wages $600, check #105. I. Petty cash reimbursement: office supplies $256, maintenance expense $108, postage expense $77, miscellaneous expense $55. Cash on hand $11. Check #106. J. Increased petty cash by $30, check #107.
Natalie opened Natalie Washing co. on July 1, 2022. During July, the following transactions were completed. July 1 Owner invests $12,000 cash to start the business. July 3 Purchased used truck for $8,000, paying $2,000 cash and signing a 1-year, 10% note for the remainder. July 5 Purchased clening supplies for $900 on account. July10 Paid $1800 cash on a 1-year insurnace policy effective July 1 July 12 Billed customers $3700 fore cleaning services performed. July 15 Paid $500 on amount owed on cleaning supplies. July 16 Received $2500 for serviced to be performed evenly from July 16 through September 15. July 22 Paid $2000 for employee salaries. July 29 July 30 July 31 Collected $1600 cash from customers billed on July 12. Paid $290 for maintenance of the truck during month. Owner withdrew $600 from the business for personal expenses. Requirements: 1) Make a tabular analysis of the transactions on accounting equation. Use the following column headings: cash, Supplies, accounts…
journal entry
john began an Upholstery cleaning business on October 1,2020 and engaged in the following transactions during the month: Began business by depositing 12,000 in a Clean & Premium ltd bank oct 1 : account oct 2 :Ordered Cleaning supplies 3,000 oct 3: Purchased cleaning equipment for 2,800. oct 4 : Made two months' van lease payment in advance, 1,200 Received the cleaning supplies ordered on (Oct 2) oct 7: and agreed to pay half the amount in 10 days, and the rest in 30 days oct 9: Paid for repairs on the van with cash, 1,080 oct 12 : Received cash for cleaning upholstery, 960. oct 17: Paid half the amount owed on supplies purchased on Oct 7, 1,500. oct 21 : Billed customers for cleaning upholstery, 1,340 oct 24 :Paid cash for additional repairs on the van, RM80 oct 27 : Received 600 from the customers billed on October 21. oct 31 Made a cash withdrawal of 700. you are Required to A : Prepare the general journal based on the above transactions. B:…
Prepare the journal entries to record the transactions assume JE#, accounts, and dates.
On Dec. 1, 2021, Ludivinia Victorino opened a videotape rental store, Cavite Video, by investing P250,000 cash from her personal savings account. During the month of December, the following transactions took place: Dec. 1 4 58 11 16 17 23 24 30 Acquired supplies on account, P67,000. Acquired videotapes costing P235,000, on account. Paid P85,000 to creditors.. Received P78,000 cash from ACA Video for rental fees. Billed Video City for video rentals, P105,000. Paid salaries, P65,000. Collected P77,000 from Video City. Victorino withdrew P47,000 from the business. Paid rent for the month, P41,500. Paid utilities bill for the month, P17,500. Required: Record the transactions for the month of December 2021 using a financial transaction worksheet. Use the following accounts: Cash; Accounts Receivable; Supplies; Videotapes; Accounts Payable; and Victorino, Capital.
Inner Resources Company started its business on April 1, 2019. The following transactions occurred during the month of April. Prepare the journal entries in the journal on Page 1.The owners invested $8,500 from their personal account to the business account.Paid rent $650 with check #101.Initiated a petty cash fund $550 check #102.Received $750 cash for services rendered.Purchased office supplies for $180 with check #103.Purchased computer equipment $8,500, paid $1,600 with check #104 and will pay the remainder in 30 days.Received $1,200 cash for services rendered.Paid wages $560, check #105.Petty cash reimbursement office supplies $200, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $93. Check #106.Increased Petty Cash by $100, check #107.
Mike Greenberg opened Cheyenne Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $9,800 cash in the company. 1 Purchased used truck for $6,560, paying $1,640 cash and the balance on account. 3 Purchased cleaning supplies for $740 on account. 5 Paid $1,440 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,030 for cleaning services performed. 18 Paid $820 cash on amount owed on truck and $410 on amount owed on cleaning supplies. 20 Paid $1,640 cash for employee salaries. 21 Collected $1,310 cash from customers billed on July 12. 25 Billed customers $2,050 for cleaning services performed. 31 Paid $240 for maintenance of the truck during month. 31 Owner withdrew $490 cash from the company. Date Account Titles and Explanation Debit Credit July 1July…
Mike Greenberg opened Cheyenne Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $9,800 cash in the company. 1 Purchased used truck for $6,560, paying $1,640 cash and the balance on account. 3 Purchased cleaning supplies for $740 on account. 5 Paid $1,440 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,030 for cleaning services performed. 18 Paid $820 cash on amount owed on truck and $410 on amount owed on cleaning supplies. 20 Paid $1,640 cash for employee salaries. 21 Collected $1,310 cash from customers billed on July 12. 25 Billed customers $2,050 for cleaning services performed. 31 Paid $240 for maintenance of the truck during month. 31 Owner withdrew $490 cash from the company. List of accounts: Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accumulated…
On July 1, 2020, Arabi Sheikh established an interior decorating business. During the month, Arabi Sheikh completed the following transactions related to the business: July 1: Arabi transferred cash from his personal account and invested it for business use, $23500. July 10: Purchased a truck for $14900, paying $7200 cash and the remainder will be paid in the future. July 12: Paid annual premiums on property and casualty insurance (advance), $2570. July 17: Paid creditor a portion of the amount owed for truck purchased on July 10, $4220. July 20: Completed services on account and billed the customer, $7310 July 25: Received cash from customers on account, $3520. July 31: Paid salaries expense of $460 and utilities expense of $300. (a) Journalize the above transactions for the month of July (b) Prepare ledger accounts in running balance format (c) Prepare trial balance at 31 July 2020
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