Rivera Roofing Company, owned by Reyna Rivera, began operations in July and completed these trans- actions during that first month of operations. July 1 Reyna Rivera invested S80,000 cash in the company. 2 The company rented office space and paid S700 cash for the July rent. 3 The company purchased roofing equipment for $5,000 by paying $1,000 cash and agreeing to pay the $4,000 balance in 30 days. 6 The company purchased office supplies for S600 cash. 8 The company completed work for a customer and immediately collected $7.600 cash for the work. 10 The company purchased $2,300 of office equipment on credit. 15 The company completed work for a customer on credit in the amount of $8,200. 17 The company purchased $3,100 of office supplies on credit. 23 The company paid $2.300 cash for the office equipment purchased on July 10. 25 The company billed a customer $5,000 for work completed; the balance is due in 30 days. 28 The company received $8,200 cash for the work completed on July 15. 30 The company paid an assistant's salary of $1,560 cash for this month. 31 The company paid S295 cash for this month's utility bill. 31 Reyna Rivera withdrew $1,800 cash from the company for personal use. Required 1. Arrange the following asset, liability, and equity titles in a table like Exhibit 1.9: Cash; Accounts Receivable: Office Supplies: Office Equipment: Roofing Equipment: Accounts Payable; R. Rivera, Capital; R. Rivera, Withdrawals; Revenues; and Expenses. Please make the journal entries from those transactions!
Rivera Roofing Company, owned by Reyna Rivera, began operations in July and completed these trans- actions during that first month of operations. July 1 Reyna Rivera invested S80,000 cash in the company. 2 The company rented office space and paid S700 cash for the July rent. 3 The company purchased roofing equipment for $5,000 by paying $1,000 cash and agreeing to pay the $4,000 balance in 30 days. 6 The company purchased office supplies for S600 cash. 8 The company completed work for a customer and immediately collected $7.600 cash for the work. 10 The company purchased $2,300 of office equipment on credit. 15 The company completed work for a customer on credit in the amount of $8,200. 17 The company purchased $3,100 of office supplies on credit. 23 The company paid $2.300 cash for the office equipment purchased on July 10. 25 The company billed a customer $5,000 for work completed; the balance is due in 30 days. 28 The company received $8,200 cash for the work completed on July 15. 30 The company paid an assistant's salary of $1,560 cash for this month. 31 The company paid S295 cash for this month's utility bill. 31 Reyna Rivera withdrew $1,800 cash from the company for personal use. Required 1. Arrange the following asset, liability, and equity titles in a table like Exhibit 1.9: Cash; Accounts Receivable: Office Supplies: Office Equipment: Roofing Equipment: Accounts Payable; R. Rivera, Capital; R. Rivera, Withdrawals; Revenues; and Expenses. Please make the journal entries from those transactions!
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Rivera Roofing Company, owned by Reyna Rivera, began operations in July and completed these trans-
actions during that first month of operations.
July 1 Reyna Rivera invested S80,000 cash in the company.
2 The company rented office space and paid S700 cash for the July rent.
3 The company purchased roofing equipment for $5,000 by paying $1,000 cash and agreeing to
pay the $4,000 balance in 30 days.
6 The company purchased office supplies for $600 cash.
8 The company completed work for a customer and immediately collected $7,600 cash for the work.
10 The company purchased $2,300 of office equipment on credit.
15 The company completed work for a customer on credit in the amount of $8,200.
17 The company purchased $3,100 of office supplies on credit.
23 The company paid $2,300 cash for the office equipment purchased on July 10.
25 The company billed a customer $5,000 for work completed; the balance is due in 30 days.
28 The company received S8,200 cash for the work completed on July 15.
30 The company paid an assistant's salary of $1,560 cash for this month.
31 The company paid $295 cash for this month's utility bill.
31 Reyna Rivera withdrew $1,800 cash from the company for personal use.
Required
1. Arrange the following asset, liability, and equity titles in a table like Exhibit 1.9: Cash; Accounts
Receivable; Office Supplies; Office Equipment; Roofing Equipment; Accounts Payable; R. Rivera,
Capital; R. Rivera, Withdrawals; Revenues; and Expenses.
Please make the journal entries from those transactions!
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