Managerial Accounting + Connect Access Card
7th Edition
ISBN: 9781260581263
Author: John Wild
Publisher: McGraw-Hill College
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Chapter D, Problem 11QS
To determine
Journal: A journal is the complete record of a financial transaction which shows the debit and credit of respective accounts for every transaction including the explanation of the transaction.
the
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Enter all the stuff inside the journal entry
Following are the transactions of Green Energy Company.
May 1
The company provided $2,000 of sustainability consulting services on credit to a customer.
May 3
The company purchased $300 of energy-efficient supplies on credit.
May 9
The company collected $500 cash as partial payment of the May 1 consulting revenue.
May 20
The company paid $300 cash toward the payable for energy-efficient supplies.
May 31
The company paid $100 cash for May’s renewable energy
Analyze each transaction of the Green Energy Company by showing its effects on the accounting equation—specifically, identify the accounts and amounts (including + or −) for each transaction. Use the following partial chart of accounts: Cash; Accounts Receivable; Supplies; Accounts Payable; Consulting Revenue; and Utilities Expense.
Date
Assets
=
Liabilities
+
Equity
May 1
=
+
May 3
=
+
May 9
=
+
May 9
=
+
May 20
=…
Required information
[The following information applies to the questions
displayed below.]
Following are the transactions of Green Energy Company.
The company provided $2,400 of
May 1 sustainability consulting services on
credit to a customer.
The company purchased $500 of energy-
efficient supplies on credit.
The company collected $900 cash as
May 3
May 9 partial payment of the May 1 consulting
revenue.
The company paid $500 cash toward the
payable for energy-efficient supplies.
The company paid $300 cash for May's
renewable energy utilities.
May 20
May 31
Prepare general journal entries for the above transactions.
View transaction list
The company provided $2,400 of sustainability consulting
services on credit to a customer.
1
credit to
2 The company purchased $500 of energy-efficient supplies
on credit.
3 The company collected $900 cash as partial payment of
the May 1 consulting revenue.
edit
4 The company paid $500 cash toward the payable for
energy-efficient supplies.
5 The…
Chapter D Solutions
Managerial Accounting + Connect Access Card
Ch. D - Prob. 1DQCh. D - Prob. 2DQCh. D - Prob. 3DQCh. D - Prob. 4DQCh. D - Are debits or credits typically listed first in...Ch. D - Should a transaction be recorded first in a...Ch. D - Prob. 7DQCh. D - Why does the reeordkeeper prepare a trial balance?Ch. D - Prob. 9DQCh. D - Prob. 10DQ
Ch. D - Prob. 11DQCh. D - Prob. 12DQCh. D - Prob. 13DQCh. D - Define (a) assets, (b) liabilities, and (c) equityCh. D - Prob. 15DQCh. D - Review the Apple balance sheet Appendix A....Ch. D - Review the Google balance sheet in Appendix A....Ch. D - Prob. 18DQCh. D - Identify the items from the following list that...Ch. D - Prob. 2QSCh. D - Prob. 3QSCh. D - Identify the normal balance (debit or credit) for...Ch. D - Prob. 5QSCh. D - Prob. 6QSCh. D - Prob. 7QSCh. D - A trial balance has total debits of $20,000 and...Ch. D - Prob. 9QSCh. D - Prob. 10QSCh. D - Prob. 11QSCh. D - Prob. 12QSCh. D - Prob. 13QSCh. D - Prob. 14QSCh. D - Prob. 15QSCh. D - Order the following steps in the accounting...Ch. D - Prob. 2ECh. D - Enter the number for the item that best completes...Ch. D - For each of the following, (1) identify the type...Ch. D - Prob. 5ECh. D - Prob. 6ECh. D - Prepare general journal entries for the following...Ch. D - Prob. 8ECh. D - Prob. 9ECh. D - Prob. 10ECh. D - Prob. 11ECh. D - 1. Prepare general journal entries for the...Ch. D - Prob. 13ECh. D - Prob. 14ECh. D - A corporation had the following assets and...Ch. D - Carmen Camry operates a consulting firm called...Ch. D - Prob. 17ECh. D - Prob. 18ECh. D - Prob. 19ECh. D - Prob. 20ECh. D - You are told the column totals in a trial balance...Ch. D - Exercise D-22 Calculating and interprets the debt...Ch. D - Prob. 23ECh. D - Prob. 1PSACh. D - Prob. 2PSACh. D - Denzel Brooks opened a web consulting business...Ch. D - Prob. 4PSACh. D - The accounting records of Nettle Distribution show...Ch. D - Prob. 6PSACh. D - Prob. 7PSACh. D - Prob. 1PSBCh. D - Prob. 2PSBCh. D - Prob. 3PSBCh. D - Prob. 4PSBCh. D - Prob. 5PSBCh. D - Prob. 6PSBCh. D - Prob. 7PSBCh. D - Prob. 1SPCh. D - Prob. 2SPCh. D - Prob. 3SPCh. D - Prob. 1GLPCh. D - Prob. 2GLPCh. D - Prob. 3GLPCh. D - Prob. 4GLPCh. D - Prob. 5GLPCh. D - Prob. 6GLPCh. D - Prob. 7GLPCh. D - Using transactions from the following assignments...Ch. D - Prob. 1AACh. D - Prob. 2AACh. D - Prob. 3AACh. D - Prob. 1BTNCh. D - Prob. 2BTNCh. D - Prob. 3BTNCh. D - The expanded accounting equation consists of...Ch. D - Prob. 5BTNCh. D - Prob. 6BTNCh. D - Prob. 7BTN
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- Following are the transactions of Green Energy Company. May 1 The company provided $2,300 of sustainability consulting services on credit to a customer. May 3 The company purchased $450 of energy-efficient supplies on credit. May 9 The company collected $800 cash as partial payment of the May 1 consulting revenue. May 20 The company paid $450 cash toward the payable for energy-efficient supplies. May 31 The company paid $250 cash for May's renewable energy utilities.arrow_forwardpoters 1,2,3,4 Following are the transactions of Green Energy Company. May 1 The company provided $2,600 of sustainability consulting services on credit to a customer. May 3 The company purchased $600 of energy-efficient supplies on credit. May 9 The company collected $1,100 cash as partial payment of the May 1 consulting revenue. May 20 The company paid $600 cash toward the payable for energy-efficient supplies. May 31 The company paid $400 cash for May's renewable energy utilities. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet Next > Fr Help Save &arrow_forwardThe cash payments and purchases journals for Outdoor Artisan Landscaping follow. The accounts payable control account has a June 1, 20Y1, balance of 2,230, consisting of an amount owed to Augusta Sod Co. Prepare a schedule of the accounts payable creditor balances and determine that the total agrees with the ending balance of the accounts payable controlling account.arrow_forward
- Prepare journal entries to record the following transactions that occurred in March: A. on first day of the month, purchased building for cash, $75,000 B. on fourth day of month, purchased inventory, on account, $6,875 C. on eleventh day of month, billed customer for services provided, $8,390 D. on nineteenth day of month, paid current month utility bill, $2,000 E. on last day of month, paid suppliers for previous purchases, $2,850arrow_forward1. Listed below are selected transactions of Schultz Department Store for the current year ending December 31: HINT: Chapter 12: Customer Advances, Example 12.12 Unearned Revenues, Example LO 12.2 REQUIRED: Prepare journal entries for the transactions listed below: 3A). On December 5, the store received $500 from the Selig Players as a deposit to be returned after certain furniture to be used in stage production was returned on January 15. 3B). 3C). 3D). 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. On December 10, the store purchased for cash, three delivery trucks that cost $120,000. The trucks were purchased in a state that applies a 5% sales tax. The store sold 25 gift cards for $100 per card. At year-end, 20 of the gift cards are redeemed. Schultz expects three of the cards to expire unused. LORarrow_forwardJournalizing transactions and posting to T-accounts Roland Poster Optical Dispensary completed the following transactions during the latter part of March: Requirements Journalize the transactions of Roland Foster Optical Dispensary. Include an explanation with each journal entry. Open the following accounts (use T-account format): Cash (Beginning Balance of $21,000), Office Supplies, and Accounts Payable. Post the journal entries from Requirement 1 to the accounts, and compute the balance in each account.arrow_forward
- 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…arrow_forwardPlease see attached and kindly assist? Thanksarrow_forward[The following information applies to the questions displayed below.]Following are the transactions of Green Energy Company. May 1 The company provided $2,000 of sustainability consulting services on credit to a customer. May 3 The company purchased $300 of energy-efficient supplies on credit. May 9 The company collected $500 cash as partial payment of the May 1 consulting revenue. May 20 The company paid $300 cash toward the payable for energy-efficient supplies. May 31 The company paid $100 cash for May’s renewable energy utilities. Analyze each transaction of the Green Energy Company by showing its effects on the accounting equation—specifically, identify the accounts and amounts (including + or −) for each transaction. Use the following partial chart of accounts: Cash; Accounts Receivable; Supplies; Accounts Payable; Consulting Revenue; and Utilities Expense.arrow_forward
- TB 03-84 Sparkling Pools provides $1,000 of pool main... Sparkling Pools provides $1,000 of pool maintenance services during July and collects payment in August. The company performs $1,600 of pool maintenance services during July that were paid for in June. The company accepts an order to perform $500 of pool maintenance services in August and will be pald in the same month. Revenue should be credited for: Multiple Choice $1,600 in June, $0 in July, and $1,500 in August. $0 in June, $2,600 in July, and $500 in August. $1,600 in June, $1,000 in July, and $500 in August. $0 in June, $1,600 in July, and $1,500 in August.arrow_forwardRequired: • Journal Entryarrow_forwardsolve full given problemarrow_forward
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