Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,460 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable office supplies Land office equipment Accounts payable. Owner investments $ 6,650 Cash withdrawals by owner 18,650 Consulting revenue 4,640 46,000 Rent expense Salaries expense 19,560 Telephone expense 9,890 Miscellaneous expenses 85,460 $ 3,490 18,650 4,920 8,500 890 700

Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,460 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable office supplies Land office equipment Accounts payable. Owner investments $ 6,650 Cash withdrawals by owner 18,650 Consulting revenue 4,640 46,000 Rent expense Salaries expense 19,560 Telephone expense 9,890 Miscellaneous expenses 85,460 $ 3,490 18,650 4,920 8,500 890 700

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Description: o.mheducation.com/ext/map/index.html?_con-con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnecgnment iRequired informationUse the following information for the Exercises below. (Algo)[The following information applies to the questions disp

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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Please answer the question of the general journal from 1 to 5?
Make a journal entry with this. Bambinini Artsy is a sole proprietorship small business firm. During the month of September 2021, the company completed the following transactions: Sep. 1 Hyvie Lyn Banan, the owner of the company, transferred cash from personal gcash account to the account of the business, P1000. 10 Purchased journal kit inclusions for cash, P750 12 Purchased packaging materials for P250, paying P100 cash and giving a note payable for the balance. 18 Received cash from customers for three mini ephemera kits sold, P159 21 Received cash from customers for three mini ephemera kits sold, P159 25 Received cash from customers for three mini ephemera kits and one customize journal kit sold, P300 28 Hyvie Lyn Banan withdrew cash for personal use, P120 29 Received cash from customers for mined detsash items and one hiraya manawari journal kit sold, P267
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This problem is based on the transactions for the Take Wings Company in your text. Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements are automatically generated based on the journal entries recorded. Dec. 1 On December 1, John Fox forms a consulting business, named Take Wings. Take Wings receives $62,000 cash from John Fox as an owner contribution. Dec. 2 Take Wings pays $4,100 cash for supplies. The company's policy is to record all prepaid expenses in asset accounts. Dec. 3 Take Wings pays $46,000 cash for equipment. Dec. 4 Take Wings purchases $9,550 of supplies on credit from a supplier, CalTech Supply. Dec. 5 Take Wings provides consulting services and immediately collects $5,800 cash. Dec. 6 Take Wings pays $2,600 cash for December rent. Dec. 7 Take Wings pays $1,100 cash for employee salary. Dec. 8 Take Wings provides consulting services of $3,700…
Journalize Transactions Galle Inc. entered into the following transactions during January. a. January 1: Borrowed $201,000 from First Street Bank by signing a note payable. b. January 4: Purchased $25,000 of equipment for cash. c. January 6: Paid $500 to landlord for rent for January. d. January 15: Performed services for customers on account, $4,200. e. January 25: Collected $3,000 from customers for services performed in Transaction d. f. January 28: Purchased land for $260,000 by paying $21,000 cash and obtaining a loan for the balance. g. January 30: Paid salaries of $3,000 for the current month. Required: Prepare journal entries for the transactions. If an amount box does not require an entry, leave it blank. Jan. 1 4 6 15 25 28
This problem is based on the transactions for the Kind Matters Company in your text. Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements are automatically generated based on the journal entries recorded. December 1 On December 1, Jim Kennedy forms a consulting business, named Kind Matters. Kind Matters receives $42,000 cash from Jim Kennedy as an owner contribution. December 2 Kind Matters pays $3,100 cash for supplies. The company's policy is to record all prepaid expenses in asset accounts. December 3 Kind Matters pays $38,000 cash for equipment. December 4 Kind Matters purchases $8,050 of supplies on credit from a supplier, CalTech Supply. December 5 Kind Matters provides consulting services and immediately collects $4,800 cash. December 6 Kind Matters pays $1,600 cash for December rent. December 7 Kind Matters pays $1,300 cash for employee salary. December 8 Kind Matters provides…
During January 2020 Orgonite Wellness Clinic completed the following transactions : Jan 1 Orgonite received $ 50,000 cash and issued common shares to shareholders 4 Purchased supplies , $ 5,000 , and equipment , $ 2,500 on account 5 Performed checkup services , and received cash , $ 2,500 7 Paid cash to acquire land for an office site , $ 25,000 11 Performed a therapy session , and billed the customer $ 2500 16 Paid for the equipment , purchased Oct 4 on account 17 Paid the telephone bill , $ 150 18 Received partial payment from client on account , $ 2000 22 Paid the water and electricity bills , $ 500 29 Received $ 5,000 cash for conducting a workshop on " Healthy Living " 31 Paid employee salary , $ 4,000 31 Declared and paid dividends of $ 4,500 Requirements : Record each transaction in the journal . Key each transaction by date . Prepare the trial balance of Orgonite , at Jan 31 , 2020 .
On April 1, 2021, Betty Trout created a new self-storage company called Betty Storage Company. The following eventsoccurred during the company's first month:April1Betty invested $75,000 cash, land and buildings worth $300,000 and $225,000 respectively.2Rented equipment by paying $4,800 for the first month.5Purchased $5,200 of office supplies for cash.10Paid $10,800 for the premium on a one-year insurance policy effective today.14Paid an employee $2,000 for two weeks' salary.24Collected $22,500 of storage revenue from customers27Collected $2,400 on a rental agreement for storage from May 1, 2021 to April 30, 202228Paid an employee $2,000 for two weeks' salary.29Paid the month's $600 phone bill30Repaired a leak in the roof of the buidling for $2,000 on account31Betty withdrew $3,500 cash from the company for personal use.The following is the company's chart of accounts:101Cash301Betty Trout, Capital106Accounts Receivable302Betty Trout, Drawings124Office Supplies401Storage…
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