Problem #6, occurred during June of this year: a P1,000 in cash and the balance on account. a d. Bought office intercom on account from NE Office Supply, P2,750. Received and paid the telephone bill, P1,080. 1. Performed professional services on account, P12,940. g. Received and paid the electric bill, P1,850. n. Received and paid the bill for the Regional Dental Convention, P3,500. i. e. Performed professional services for cash, P17,650. J. Partially settled accounts with NE Office Supply, P1,000. k. Paid rent for the month, P8,400. I. Paid salaries of the part-time receptionist, P3,500. m. Dalangin withdrew cash for personal use, P8,500. Received P5,500 on account from patients who were previously billed. n. Required: 1. Establish the following T-accounts: Cash; Accounts Receivable; Office Equipme Office Furniture; Accounts Payable; Dalangin, Capital; Dalangin, Withdraw Professional Fees; Salaries Expense; Rent Expense; Utilities Expense Miscellaneous Expense. . Record the transactions directly into the T-accounts using the alphabets to idem each transaction. Prepare a trial balance.

Problem #6, occurred during June of this year: a P1,000 in cash and the balance on account. a d. Bought office intercom on account from NE Office Supply, P2,750. Received and paid the telephone bill, P1,080. 1. Performed professional services on account, P12,940. g. Received and paid the electric bill, P1,850. n. Received and paid the bill for the Regional Dental Convention, P3,500. i. e. Performed professional services for cash, P17,650. J. Partially settled accounts with NE Office Supply, P1,000. k. Paid rent for the month, P8,400. I. Paid salaries of the part-time receptionist, P3,500. m. Dalangin withdrew cash for personal use, P8,500. Received P5,500 on account from patients who were previously billed. n. Required: 1. Establish the following T-accounts: Cash; Accounts Receivable; Office Equipme Office Furniture; Accounts Payable; Dalangin, Capital; Dalangin, Withdraw Professional Fees; Salaries Expense; Rent Expense; Utilities Expense Miscellaneous Expense. . Record the transactions directly into the T-accounts using the alphabets to idem each transaction. Prepare a trial balance.

Name: Problem #6,occurred during June of this year:P1,000 in cash and the b
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Description: Problem #6,occurred during June of this year:P1,000 in cash and the balance on account.Bought office intercom on account from NE Office Supply, P2,750.e. Received and paid the telephone bill, P1,080.T. Performed professional services on account, P12

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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Lowell Bank reported the following checking account fees: $2 to see a real-live teller, $20 to process a bounced check, and $1 to $3 if you need an original check to prove you paid a bill or made a charitable contribution. This past month you had to transact business through a tellet six times-a total $12 cost to you. Your bank statement shows a $305,33 balance your checkbook shows a $1,009.76 balance. You received $1.10 in interest. An $80115 deposit was not recorded on your statement. The following checks were outstanding: No. 413. $28.30, No. 414, $18.60, and No. 418, $60.72. Prepare your bank reconciliation (Input all amounts as positive values. Round your answers to 2 decimal places) Checkbook balance Add: Interest Subtotal Deduct Teller fee Reconciled balance Y BANK RECONCILIATION $ 1,009 76 Bank balance Add: 1.10 $1,010.86 12.00 $ 998 58 Deposit in transit Subtotal Deduct Outstanding checks (total) Reconciled balance - ** $ 74 $ 305.33 801.15 1,106.48 107,62 998.86
Prepare the journal entries for the following transactions, provided the chart accounts below: DATE:APRIL 2022TransactionsApril 01 -Completion of a denture worth 6,000 April 02 - Received 7,000 in total from appointed patients for the whole dayApril 03 -received 7,000 in total from appointed patients for the whole dayApril 04 -received 2,500 in total from appointed patientsApril 05- paid 36,000 for car loan for business/personal useApril 06- received 1,500 from one patient that dayApril 07 -received 3,000 from appointed patients that dayApril 08- purchased dental supplies, 4,500April 09- received 4,000 from appointed patients April 10-received 3,000 in total from appointed patients April 11-received 1,500 from one patient that dayApril 12-paid 10,000 for dental laboratory feeApril 13-received 20,000 from a prosthodontic caseApril 15-paid 13,000 for a lot for future investment/businessApril 15 -paid 7,500 for dental assistantApril 16-received 2500 in total from appointed patientsApril…
On 1st June order has been given for supplies RO 10,000 and the department received supplies worth RO 6000 on 10th June along with the voucher. Department approved the voucher but paid RO 5000. Which one of the following entries records the supplies expenditure paid? a. Accounts payable Account Dr. RO 1,000, Bank Account Cr RO 1,000 b. None of the options c. Accounts payable Account Dr. RO 11,000, Bank Account Cr RO 11,000 d. Accounts payable Account Dr. RO 6,000, Bank Account Cr RO 6,000
Prisha received an invoice for $5,000 that had payment terms of 3/5 n/30. She made a partial payment of $2,000 during the discount period. a. Calculate the amount credited. Round to the nearest cent b. Calculate the balance on the invoice after the partial payment was made.
Record the following transactions in the cash receipts journal. Jun. 12 Your company received payment in full from Jolie Inc. in the amount of $1,715 for merchandise purchased on June 4 for $1,750, invoice #1032. Jolie Inc. was offered terms of 2/10, n/30. Record the payment. Jun. 15 Portman Inc. mailed you a check for $2,600. The company paid for invoice #1027, dated June 1, in the amount of $2,600, terms offered 3/10, n/30. Jun. 17 Your company received a refund check (its check #12440) from the State Power Company because you overpaid your electric bill. The check was in the amount of $62. The Utility Expense account number is #450. Record receipt of the refund. If an amount box does not require an entry, leave it blank. CASH RECEIPTS JOURNAL Page: 24 Date Account InvoiceNo. Ref. CashDR SalesDiscountsDR AccountsReceivable,Sales, orotheraccounts CR 2019 Jun. 12 fill in the blank 3 fill in the blank 4 fill in the blank 5 fill in the blank 6 Jun. 15…
James Howard owns Howard Auto Sales. He periodically borrows money from Bay City State Bank and Trust. He permits some customers to sign short-term notes for their purchases. He usually discounts these notes at the bank. Following are selected transactions that occurred in March 20X1. DATE TRANSACTIONS 20X1 Mar. 4 Mr. Howard borrows $34,560 from the bank on a note payable for the business. Terms of the note are 10 percent interest for 45 days. 11 A 90-day $47,520 note payable to the bank is discounted at a rate of 8 percent. 22 Sold a car to Darnell Jones for $40,320 on a 75-day note receivable, bearing interest at 7 percent. 23 Discounted the Jones note with the bank. The bank charges a discount rate of 10 percent. 25 Sold a car for $48,960 to Henry Thomas. Thomas paid $4,000 cash and signed a 30-day note, bearing interest at 9 percent, for the balance. 28 Alfred Herron's account receivable is overdue. Howard requires him to sign a 8…
Petty cash fund had an opening balance of RO 300. During the month the receipts were RO 70 staff welfare, RO 75 petrol, 80 office stationery, and 45 travelling and there was RO 20 left in the petty cash box. If the petty cash fund is raised to RO 500 per month then how much is the amount required to be refill? a. RO 470 b. RO 280 c. RO 380 d. RO 480
need help with full working and steps thanks answer in text Listed below are selected transactions of Solution Department Store for the current year ending December 31. a. On December 5, the store received $500 from the Jackson Players as a deposit to be returned after certain furniture to be used in stage production was returned on January 15. b. During December, cash sales totaled $798,000, which includes the 5% sales tax that must be remitted to the state by the fifteenth day of the following month. c. On December 10, the store purchased for cash three delivery trucks for $120,000. The trucks were purchased in a state that applies a 5% sales tax. d. The store determined it will cost $100,000 to restore the area (considered a land improvement) surrounding one of its store parking lots, when the store is closed in 2 years. Solution’s estimates the fair value of the obligation at December 31 is $84,000. Required: Prepare all the journal entries necessary to record the…