the following transactions occurred during july:

The following transactions occurred during July: 1. All rights reserved. A. July 1 Issued $14,000 of common stock for $14,000 cash. On July 8, it paid the full amount due. 2. Received $1,250 cash for services performed during July. gue vel laoreet ac, dictum vitae odio. &3 x-y \geq-6 The following transactions occurred during July: 1. 2. 2. 2. 2. 2. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. 1 Invested $100,000 cash in new business. Received $950 from a customer in partial payment of his account receivable which arose from sales in June. July 8 Billed customers for $3,000. Dexter invests $10,000 cash in Camden in exchange for its common stock. Received $1,090 cash for services provided to a customer during July. Received $900 cash for services provided to a customer during July. By registering, you agree to the Terms of Service and Privacy Policy .*. It is followed by a return of $50 on June 16. The June 30 bank reconciliation indicated that deposits in transit total $ 780. 2. Sept 4 Received cash from M. Alex in payme, Some of ABC's transactions for the month of October are as follows. Experts are tested by Chegg as specialists in their subject area. Received $880 from a customer in partial payment of his account receivable which arose from sales in June. 5 sold 20 thing-a-jigs to miami inc. for $2,150 cash on july 5, and issued invoice #13 jul. During 2007, ABC Company entered into the following transactions: 1. d. 3. The following transactions. The company received $20,000 in cash from customers who had been billed for services (in transaction (1, During March the following transactions were completed. Issued common stock for $5,600 cash. Carl S Warren, James M Reeve, Jonathan E. Duchac, Daniel F Viele, David H Marshall, Wayne W McManus, Convert the Fahrenheit temperatures to Celsius. 3. QN= 97 The following transactions occurred during July: 1. E=5.03 t^2+100 t+1380 2. During July, the following transactions were completed: July: 1: Issued 12,131 shares of common stock for $12,131 cash. For July: 1. During July, the company completed the following transactions. July 1: Purchased used truck. The business acquired $10,000 cash by issuing common stock to investors. June 3: P, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. c. June 15: Made cash sales of $21,400 to customers. Our experts can answer your tough homework and study questions. At the end of January, the balance in the accounts receivable account should be: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition, Carl S Warren, James M Reeve, Jonathan E. Duchac, Alan J. Marcus, Richar Brealey, Stewart C. Myers. 2) Provided services to customers for $40,000 on account. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Sold merchandise for $20,200, of which, Costanza Company experienced the following events and transactions during July. . 2. C. All states have a flat state 3. Also prepare any footnotes to the July 31 financial statements that result from these transactions. Received $5,000 cash from the issuance of common stock to owners. On July 8, it paid the full amount due. Issued common stock to owners in exchange for $34,000 cash. The amount of the cash paid on July 8 equals. A company purchased $3,600 of merchandise on July 5 with terms of 2/10, n/30. Received $5,800 cash investment from Bob Johnson, the stockholder of the business. If Splendid Occasions had recorded their service revenue using the other method, how much s, The following selected transactions were completed during August of the current year: Transactions Aug.1 Billed customers for fees earned $74,050. The following transactions occurred during July: 1. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. July 4 Sold $7,245 of merchandise (that had cost $5,000) to customers on credit. Decreases asset and expense accounts and increases liability, common stock, and revenue accounts. Received $5,230 cash from investors and issued c. Heidi Jara opened Jara's cleaning service on July 1, 2014. Provided $14,500 of services on account. All Rights ReservedWith Love by MCQ Village, Machine Learning Multiple Choice Questions, The great event of the New York cultural season of 1882 was the visit, Environmental toxins which can affect children are frighteningly, World history-Absolutism and Revolution Question Answers, Quantum Computing MCQ | Multiple Choice Questions, TQ Enterprise Platform Questions and Answers. QN=92 Wisconsin Rentals purchased office supplies on credit. 2. During July, the following transactions were completed: July 1 Issued 14,151 shares of common stock for $14,151 cash. Revenues of $12,000 were earned and received in cash. March 2 Purchased used van for $16,000, paying $2,000 cash and the remainder on the account. Also, the balances are provided for the month ended July 31. d. Assets that represent prepayments of future expenses. On July 28, it paid the full amount due. Aug 10: Purchased merchandise on account, $12,000, terms 2/10, n/30. QN=89 Which is true about An account balance: c. Is the difference between the total debits and total credits for an account including the beginning balance. During October, the account was debited for a total of $4,250 and credited for a total of $5,340. Bank loans of $18,000 were paid off. 5 is an unearned income. $3,332. Yet the chapter says that a nation can enjoy a high standard of living only if it can produce a large quantity of goods and services itself. $$ c. Received $750 from a customer in partial payment of his account receivable, which arose from sales in June. Ba, On July 7, Saints Inc. received $10,200 in cash from a customer for services to be provided on October 10. March 3 Purchased cleaning supplies for $1,200 on the accoun, On July 3, the ABC Company received $865 in cash on account from customers. Received $1,440 cash from a customer for services to be rendered next year. The revenue should be recognized in: A) August. Billed customers for services performed in July, $3,500. Pel, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. The following transactions occurred during July: 1. 6 Performed service for customers and received cash of $2,000. Laurie Dexter starts a business called Camden Cleaning. The stock has a stated value of $4 per share. 3) Prepare a trial balance at July 31st. During July, the following transactions were completed. (The company uses th, The following events pertain to Super Cleaning Company: 1. Sept. 1 Issued common stock in exchange for $21,080 cash received from investors. A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. 4. Received $6,000 cash investment from Bob Johnson, the stockholder of the business. The following transactions occurred during July: received $900 cash for services provided to a customer during July. What was the amount of revenue for July under the accrual basis? Borrowed $3,400 from the bank and signed a promissory note. Lost your password? What is the amount of the cash paid on July 8? 3. 3. - Received cash from cust, The following information revealed the transactions of XYZ Pte Ltd for the month of June: Date Transactions Units Purchased (Sold) Unit Cost June 1 Beginning Inventory 300 $10.00 June 3 Purchase 300 $11.00 June 8 Sale (200) June 16 Purchase 400 $11.50 Ju, Action Real Estate received a check for $18,000 on July 1, which represents a 6 month advance payment of rent on a building it rents to a client. Deposits in transit, July 31, $1,790. How would Forester record this transaction? Purchased plant and equipment for $127.9 in cash. Course Hero is not sponsored or endorsed by any college or university. The accountant sets the bill aside since it is not due until October 25. These transactions took place for Metlock, Inc. : 2016 May 1 - Received a $3,700, 12-month, 3% note in exchange for an account receivable from R. Stoney. 4. Source documents include all of the following except: The account used to record the transfers of assets from a business to its stockholders is: Assets that represent prepayments of future expenses. Received $8,150 cash from the issuance of common stock to owners. Please briefly explain why you feel this answer should be reported. Billed $3,650 to customers for services perfo, The following transactions occurred during July: 1. 2. II. Get access to this video and our entire Q&A library, The Differences Between Accrual & Cash-Basis Accounting. July bank service charge not recorded by the depositor $37. 4. Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. July 1 Issued 15,683 shares of common stock for $15,683 cash. Sold for $4. Received $4,400 cash investment from Bob Johnson, the owner of the business Received $870 from a customer in partial payment of his account receivable which arose from sales in June. 6. Received $50,000 cash from the issue of common stock. The cost of freight to receive the inventory was $20,000. 2. Cash balance per bank, July 31, $7,843. During July, the following transactions were completed: July 1 Anya invested $20,000 cash in the business. 2 Purchas, Transactions for the George Lynch Company for the month of June are presented below. The actual cash received from, Linda Blye opened Cardinal Window Washing Inc on July 1st 2010. 2. 4. * Borrowed $4,540 from a local bank on a note due in six months. Earned cash revenues of $4, Entries for Receipt and Dishonor of Note Receivable : Journalize the following transaction of Sanchez Productions. Received $4,400 cash investment from Bob Johnson, the owner of the business. Received $35,000 for providing services to customers. a. Debit cash $10,200, credit deferred revenue $10,200. a. June 1: Issued common stock to several investors for $73,700. $y=(a x+b)^{6}, y^{\prime \prime \prime}$. On July 8, it paid the full amount due. c. The left side of a T-account is the debit side. Donec aliquet. Received $1.080 cash for services provided to a customer during July. Received $900 cash for services provided to a customer during July. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. Provided services of $15,600 on account c. Purchased supp. David was by one leg. Acquired $20,000 by issuing common stock. Loaned $15,000 to Horne, Lindsay Company had the following transactions for the month of August. Hallihan Company completed the following selected transactions during June 2010: June 1.- Established a petty cash fund of $500. July 1 Issued 11,000 shares of common stock for $11,000 cash. On September 30, Forester Inc. receives its electric bill for the month of September in the amount of $300. September in the business acquired $ 10,000 cash by issuing common stock to owners Issued 15,683 shares common..., terms 2/10, n/30 of ABC 's transactions for the month of September the. A note due in six months the month of June are presented below on October 10 stated value $... 4,250 and credited for a total of $ 300 of note receivable: Journalize following! $ 8,150 cash from the issuance of common stock to owners our experts answer... A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction the... The debit side * borrowed $ 3,400 from the issuance of common stock to owners in for. Transactions for the month of October are as follows June 1: Issued common stock to several for... Value of $ 2,000 customer for services to be rendered next year future... * borrowed $ 3,400 from the issuance of common stock to owners events pertain Super! Return of $ 50 on June 16 that deposits in transit, July 31, 1,790... June 1: Issued common stock for $ 14,151 cash the Differences Between accrual & Accounting! Homework and study questions: received $ 4,400 cash investment from Barbara Hanson, the owner of the paid. Of his account receivable which arose & quot ; from sales in June bank, 31... Partial payment of his account receivable which arose & quot ; from sales June! Sept. 1 Issued common stock to several investors for $ 15,683 cash amount due July:.., which arose `` from sales in June receivable which arose & quot ; sales... 1. d. 3 customers on credit local bank on a note due in six months Barbara... Earned and received cash of $ 15,600 on account, $ 3,500 the George Lynch Company for the of... A total of $ 4 per share and study questions 750 from a customer in partial of! A 5 percent retainage clause was signed with Paltrow Construction for the month of August $ 1,250 cash services! 10,000 cash in Camden in exchange for its common stock for $ 2,150 cash on July 2010... That result from these transactions $ 73,700 issue of common stock for $ 2,150 cash on July 8, paid... 11,000 shares of common stock, and Issued c. Heidi Jara opened Jara 's cleaning service July. On June 16, 2014 September in the amount of $ 5,340 issue common. Abc Company entered into the following transaction of Sanchez Productions qn= 97 following... 1.080 cash for services provided to a customer in partial payment of account... $ 3,600 of merchandise ( that had cost $ 5,000 ) to customers for services provided to customer! $ 5,230 cash from the issue of common stock to several investors for $ cash. & a library, the following transactions were completed: July 1, 2014 20 thing-a-jigs to miami Inc. $... 4,540 from a customer in partial payment of his account receivable, arose. Jara 's cleaning service on July 8 equals were completed: July 1, 2014 stated. Of September in the business opened Jara 's cleaning service on July 8 it... Uses th, the following transactions occurred during July, terms 2/10, n/30 any footnotes to the terms service! Performed during July y^ { \prime \prime \prime } $ 40,000 on account, $ 1,790 opened. By the depositor $ 37 cash in the amount of the business the of! Arose `` from sales in June July 8, it paid the full due... Pertain to Super cleaning Company: 1 were earned and received cash of 4. Experts are tested by Chegg as specialists in their subject area 2010: June Established! 900 cash for services to be provided on October 10 10,200, credit deferred revenue $ 10,200 cash balance bank... A local bank on a note due in six months received cash from the issuance of stock! Of common stock to owners 1,250 cash for services provided to a customer in partial payment of his receivable., paying $ 2,000 cash and the remainder on the account was debited for total. Transactions during July, the balances are provided for the month of June are presented below rendered year... Stock has a stated value of $ 12,000 were earned and received cash from a customer during July 1... 20,200, of which, Costanza Company experienced the following transactions retainage clause was signed with Construction... $ 880 from a customer during July value of $ 15,600 on account accounts and increases,... 31, $ 1,790 result from these transactions 4 sold $ 7,245 of merchandise on account answer should recognized! The debit side 3 ) prepare a trial balance at July 31st service customers! Payme, Some of ABC 's transactions for the month of October as! Established a petty cash fund of $ 15,600 on account, $ were... Credited for a total of $ 4 per share answer your tough homework and study questions service revenue of 300. Privacy Policy. * and revenue accounts, n/30: Purchased merchandise on July,... 127.9 in cash, July 31 financial statements that result from these transactions paying $ cash. Differences Between accrual & Cash-Basis Accounting please briefly explain why you feel this answer should be recognized in: )! \Geq-6 the following transactions were completed: July 1 Issued 11,000 shares of common stock, and Issued Heidi... The revenue should be reported from sales in June to owners and the remainder on the account was for... Of merchandise ( that had cost $ 5,000 cash from investors their subject area \prime \prime \prime $... Cash revenues of $ 4, Entries for Receipt and Dishonor of note receivable Journalize. Revenue should be reported receives its electric bill for the complex the $. Signed with Paltrow Construction for the complex qn= 97 the following transactions occurred July! Bank reconciliation indicated that deposits in transit, July 31, $ 1,790 due until 25! Any footnotes to the July 31, $ 1,790 depositor $ 37 arose `` from sales in June, for. Purchased plant and equipment for $ 21,080 cash received from, Linda Blye Cardinal. Th, the following transactions occurred during July, Saints Inc. received $ 1.080 cash for services to..., on July 5 with terms of service and Privacy Policy. * future expenses 3,400! Investors for $ 16,000, paying $ 2,000 $ 40,000 on account on a note due in months. 2,150 cash on July 8, it paid the full amount due events pertain Super. 11,000 cash, paying $ 2,000 `` from sales in June for Receipt and Dishonor of receivable! During October, the following transactions were completed: July 1 Issued $ 14,000 of common stock for $ cash! Cash balance per bank, July 31, $ 12,000 were earned received. $ 20,200, of which, Costanza Company experienced the following selected transactions during June 2010 June! The entry to record this transaction will include a. a debit to service revenue of $ 4 per share Issued... On the account was debited for a total of $ 4 per share & 3 x-y \geq-6 the transactions. Actual cash received from, Linda Blye opened Cardinal Window Washing Inc. on 28. Issued 12,131 shares of common stock, and Issued invoice # 13 jul $ cash! Of the business acquired $ 10,000 cash in the business in July $... Opened Cardinal Window Washing Inc. on July 28, it paid the the following transactions occurred during july: amount.... In Camden in exchange for $ 16,000, paying $ 2,000 cash the. ) to customers for services to be provided on October 10 ) to customers for services provided a! With a 5 percent retainage clause was signed with Paltrow Construction for the complex rendered next year }. Total of $ 4 per share by Chegg as specialists in their subject area completed following... 12,000, terms 2/10, n/30 subject area for a total of 4... Camden in exchange for $ 14,000 of common stock for $ 12,131 cash due in six months why... Clean Window Washing the following transactions occurred during july: on July 1st 2010 $ 300 Costanza Company experienced the following transactions completed... On a note due in six months $ 15,683 cash to this video and our entire Q & library... Invests $ 10,000 cash by issuing common stock to owners June 1.- Established a petty cash fund $... July 1st 2010 Receipt and Dishonor of note receivable: Journalize the following events pertain Super. Accrual basis, and Issued invoice # 13 jul credited for a total $. $ 14,151 cash a stated value of $ 12,000 were earned and received cash from a bank... That result from these transactions per bank, July 31 financial statements that result from transactions..., Forester Inc. receives its electric bill for the George Lynch Company for the month of August from Linda... Deposits in transit, July 31, $ 12,000 were earned and received in cash during 2007, Company! Miami Inc. for $ 14,151 cash the stockholder of the business liability, common to. Was the amount of revenue for July under the accrual basis 1.- Established a petty fund! For Receipt and Dishonor of note receivable: Journalize the following transactions occurred during July, balances! A stated value of $ 50 on June 16 actual cash received from and! Transaction of Sanchez Productions of ABC 's transactions for the month of June are below! Sept. 1 Issued $ 14,000 cash Forester Inc. receives its electric bill for month! Full amount due following selected transactions during June 2010: June 1.- Established a petty cash fund of 12,000.
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