Go to pg. 49E AA B2-3 Work TogetherA-ZAnalyzing revenue, expense, and withdrawal transactions into debit andcredit partsTaccounts are given in the Morking Papers. Your instructor will guide youthrough the following examples. Use the chart of accounts for Jensen CleaningService in Work Together 2-2.Transactions:Mar.11. Sold services on account to Johannes Erickson, $125.00.13. Received cash from sales, $260.00.14. Paid cash for telephone bill, $54.00.16. Received cash on account from Johannes Erickson, $125.00.19. Paid cash to owner for a withdrawal of equity, $200.00.1. Prepare two T accounts for each transaction. On each T account, write theaccount title of one of the accounts affected by the transaction.2. Write the debit or credit amount in each T account to show thetransaction's effect.2-3 On Your OwnAnalyzing revenue, expense. and withdrawal transactions into debit andcredit partsINTLO 2:14

In double-entry bookkeeping, a T Account is the graphic structure used to keep debits and credits…

Answered: T accounts are given in the Working…

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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Debbie Mueller owns a small retail business called Debbie’s Doll House. The cash account has a balance of $20,000 on July 1. The following transactions occurred during July: July 1 Issued Check No. 314 for July rent, $1,400. 1 Purchased merchandise on account from Topper’s Toys, Invoice No. 211, $2,500, terms 2/10, n/30. 3 Purchased merchandise on account from Jones & Company, Invoice No. 812, $2,800, terms 1/10, n/30. 5 Returned merchandise purchased from Topper’s Toys receiving a credit memo on the amount owed, $400. 8 Purchased merchandise on account from Downtown Merchants, Invoice No. 159, $1,600, terms 2/10, n/30. 11 Issued Check No. 315 to Topper’s Toys for merchandise purchased on account, less return of July 5 and less 2% discount. 13 Issued Check No. 316 to Jones & Company for merchandise purchased on account, less 1% discount. 15 Returned merchandise purchased from Downtown Merchants receiving a credit memo on the amount owed, $600. 18 Issued…
A book keeper recorded the purchase of office supplies on accounts as follows: Dr. Supplies expense 34000 Cr. Accounts receivable 34000 How much are total assets over or under stated? show workings
1. Open an accounts payable ledger account for the following vendors: 1. Central Lumber, 220 1. Commercial Tool Warehouse, 230 2. Record a balance on the following account: 1. Interior Plumbing Parts -- $2,320 on August 21.
for each entry. (Record debits first, then credits Seled the explanation on the last line of the journal entry table.) Apr. 4: Collected $1.500 cash rom a cient on account Date Accounts and Explanation Debit Credit Apr. 4 Cash 1.500 Accounts Recelvable 1.500 Received cash on account Apr. 8 Performed tax services for a client on account $3.000 Date Accounts and Explanation Debit Credit Accounts Recelvable 3,800 Ap Senvice Revenue 3.00 Performed aenvices on account Apr. 13 Paid $1.100 on account Date Accounts and Explanation Debit Credit Apr 13 Acceunts Payable 2,400 Cash 2.400 Choose from any ist or enter any number in the input feids and then click Check Answer
May someone please help me with this? Thank you. Using the chart of accounts and transactions below, prepare the General Journal and Trial Balance forMr. Sanchez’ GGSS Beauty Salon.
required:Prepare the preliminary trial balance. Arrange the Accounts in their correct order thank you
In November, Year 2, your accounting firm placed a one-time website advertisement with Today's CPA. This is your first ad with this vendor. You pay for the one-time advertising with your company's Citibank Visa credit card. Below is the transaction you completed for this purchase. If you run the report Transaction List by Vendor, for all dates, what dollar amount will appear under the vendor Today's CPA? Why? Teacher Feedback: was the expense form completed properly?
Please answer all the questions, thanks!
Can you work all of question 3 out for me to see if I’m doing This right? Y’all have been very helpful for me by helping me compare answers, which has helped me tremendously in the online world since I don’t have a teacher, so thank you.
INSTRUCTION: Determine the ending balances of the accounts (Cash, Supplies, Equipment, Account Payable, and Note Payable) based on the following journal entries. You may want to prepare a T-account for each account to determine the answer. See exhibit 2.11 on textbook page 66 for examples of how this is done. DR CR a) Cash $3,900.00 Note Payable $ 3,900.00 b) Equipment $1,000.00 Note Payable $ 1,000.00 c) Supplies $300.00 Cash $300.00 d) Supplies $700.00 Account Payable $700.00 e) Note Payable $900.00 Cash $900.00 For example, The ending balance of the 'Equipment' account is $1000 DR(There is only one debit entry for equipment-see…
The following selected transactions for Kingbird, Inc. are presented in journal form. Date May 5 12 15 5/12 5/15 5/5 Accounts Receivable 5/5 Service Revenue (Billed for services performed) 5/15 Account Titles and Explanation Cash Accounts Receivable (Received cash in payment of account) Ending Bal. Cash Service Revenue (Received cash for services performed) Ending Bal. Post the transactions to T-accounts. Make one T-account for each item and determine each account's ending balance. (Post entries in the order displayed in the problem.) Ending Bal. 2120 3000 5120 Cash 5080 Accounts Receivable 3680 Ref. Debit 5,080 5080 3000 Service Revenue 8080 2,120 5/12 3,000 J1 Credit 5,080 2,120 JUML 3,000 1590

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