INTER. ACCOUNTING - CONNECT+ALEKS ACCESS
10th Edition
ISBN: 9781264770335
Author: SPICELAND
Publisher: MCG
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Inner Resources Company started its business on April 1, 2019. The following
transactions occurred during the month of April and recorded the following entries.
A. The owners invested $8,500 from their personal account to the business account
B. Paid rent $850 with check #101.
C. Initiated a petty cash fund $550 with check #102.
D. Received $800 cash for services rendered.
E. Purchased office supplies for $180 with check #103.
F. Purchased computer equipment $9,000, paid $1,600 with check #104 and will
pay the remainder in 30 days.
G. Received $1,200 cash for services rendered.
H. Paid wages $560, check #105.
I. Petty cash reimbursement: Office supplies $250, Maintenance Expense $140,
Miscellaneous Expense $65. Cash on Hand $37. Check #106.
J. Increased Petty Cash by $100, check #107.
A.
Cash
8,500
Inner Resources Company, Capital
8,500
В.
Rent Expense
850
Cash
850
C.
Petty Cash
550
Cash
550
D.
Cash
800
Services Income
800
E.
Office Supplies
180
Cash
180
F.
Computer Equipment
9,000…
Prepare all of Blossom's journal entries for 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Question 9 of 9
Cullumber Enterprises Ltd. has entered into a contract beginning in February 2023 to build two warehouses for Ivanhoe Structures
Ltd. The contract is a non-cancellable fixed-price contract for $9.5 million. Billings and collections are lower in 2025 by $500,000 each.
The following data pertain to the construction period (all figures in thousands).
Costs for the year
Estimated costs to complete
Progress billings for the year (non-refundable)
Cash collected for the year
2023
$4,185
5,115
3,860
2024
5.115
388
4,540
2025
200
-0-
1,100
3,300 4,590 1,910
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