the following transactions occurred during julythe following transactions occurred during july

Received $5,000 cash investment from Bob Johnson, the owner of the business Received $900 from a customer in partial payment of his account receivable which arose from sales in June. Opened business by issuing common stock for $36,000. Prepare journal entries to establish the fund on July 1 and re, Fran Inc. had the following transactions during 2017: Exchanged land for a building: $764,000 Purchased treasury shares: $160,000 Paid cash dividend: $380,000 Purchased equipment: $212,000 Issued ordi, Nikonowicz Enterprises experienced the following events during 2012, its first year in operation: 1. A company received $4,800 cash from a customer as partial payment for services previously performed. 2. Received $700 fr, The following transactions occurred during July: 1. Provided services to a customer on credit, $375. June 2: Buys equipment on account for $2,190. 2. c. Billed customers for services rendered, $6,000. Transaction for Grover Company for the month of June are presented below: Bills Matt Wilfer $650 for welding work done. $21,000 cash was paid and a note payable to the seller was signed for the balance owed. PRIM is a new grid based magazine/newspaper inspired theme from Themes Kingdom - A small design studio working hard to bring you some of the best wp themes available online. July bank service charge not recorded by the depositor $36. Received $1,030 cash for services provided to a customer during July. (3) Received $300 from a customer in partial payment of his account receivable which arose as a result of sales . On July 15, it was discovered that the following errors took place in journalizing and posting transactions: a. 2.Purchased supplies on account, $1, 960. Acquired $30,000 cash from the issue of common stock. A firm has a long-run total cost function: LTC(Q)=Q320Q2+220Q\operatorname{LTC}(Q)=Q^3-20 Q^2+220 Q Borrowed $7,900 from the bank by signing a promissory note. b. 2. 2. Prepare the general journal entry to record this transaction. II. What is the amount of cash paid on July 28? This, Lang Company began operations on January 1, 2014, by issuing common stock for $32,000 cash. Issued common stock for $5,600 cash. July 1: Anya invested $20,000 in cash in the business. Prepare the general journal entry to record this transaction. 3. Expert Answer. Received $5,200 cash from the issuance of common stock to owners. For a compound transaction, July 12. 4 Purchased supplies on account, $1,970. b.Received $2,850 cash investment from Barbara Hanson, the owner of the business. Received $700 fr, 1. Prepare the general journal entry to record this transaction. Consider transactions t1 and t2 where t1 happened first in the serial order. What amount is received as payment in full on July 24? $555. 2. July 1 Issued 15,683 shares of common stock for $15,683 cash. Received $1,400 cash for services performed during July. Received $1,200 cash for services performed during July. Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. Provided services for $5,500 cash. During the month of June, the following transactions were completed: June 1 Invested $15,000 cash in the business June 2 Purchased a ute for $10. -The business purchased land for $17,000 cash. Depreciation on equipment totaled $15,000 for the year. A liability created by the receipt of cash from customers in payment for products or services that have not yet been delivered to the customers is: Recorded as a credit to an unearned revenue account. Acquired $29,000 cash from the issue of common stock. 6. c. Billed customers for services rendered, $6,000. 3. Journalize BullsEye's transactions for July 10, 2011. During July the following transactions were completed. Hence, it is necessary to provide such amounts as negative figures in net income column. Received $400 from a customer as payment for services B. 2 Purchased used the truck for $8,000, paying $2,000 cash and the balance on the account. 2 Purchased a used van for deliveries for $12,000. 1. 2 The company rented equipment by paying $2,000 cash for the first month's (July) rent. A summary of cash flows for July follows. Hardt Corporation began business operations and experienced the following transactions during 2012: 1) Issued common stock for $10,000 cash. July bank service charge not recorded by the depositor $37. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. Lamonda Corp. uses a job order cost system. 3. The company paid cash. 4. c. a debit to Cash of $1,400. 9 Paid $1. 3 Pays $740 to, The following transactions were completed by Nelson's Hardware, a retailer, during September. 4) Paid $1,200 to the owner of t, July1 - Stockholders invested $18,000 cash in the business in exchange for common stock. 2. a. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Provided services to a customer on credit. On July 28, it paid the full amount due. 3/15, n/30. On August 1, ABC Company sold common stock to owners in the amount of $200,000 and borrowed $, ABC Company began operations on August 1, 2021, and entered into the following transactions during 2021: 1. The machine cost $, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. On July 7, it returned $200 worth of merchandise. A company purchased $2,200 of merchandise on July 5 with terms 3/10, n/30. July 25 Reacquired 490 preferred shares at $70 per share. Provided services to a customer on credit, $375. Received $1,030 cash for services provided to a customer during July. 1. Paid $300,000 Cash for an Office Building 3. 3. 6 Performed service for customers and received cash of $2,000. July 1 Issued 11,000 shares of common stock for $11,000 cash. note. Received $900 cash for services provided to a customer during July. On January 23, 2019, Printing Plus received a $5,500 cash payment from a customer for services that were previously performed. 2. 2. On July 7, it returned $410 worth of merchandise. Prepare the general journal entry to record this transaction. The buildings will be financed 3. c. The merchandise inventory as at December 31, 20x2 was $240. Received $15,000 cash for services provided. Transactions made by Huddleston Co. for the month of March are shown below. Levitt Company received $2,150 cash from a client for services provided. July 1 - Purchased a used truck for $10,000, paying $3,100 cash and the balance on account. a. Prepare a journal entry on August 13 for cash received for services rendered, $9,000. Received $6,400 cash from the issuance of common stock to owners. 4. The company sold 525 units in June. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $233,170. Provided services for $5,500 cash. 3. 3. 2. , Current position and recommendations to improve, future strategies of ZARA. 3. b. Debi. Paid dividends. 6. 2. 2 Purchased $800 of office supplies on account. Provided $13,600 of services on account. 4. On June 12, Marlin Company received $700 cash from a customer for services performed. 3 Purchased used car for $8,200 cash for use in the business. Borrowed $2,500 from the. Provided services for $4,600 cash. Paid $8,610 cash dividend to stockholders. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Received $900 cash for services performed during July. Acquired $29,000 cash from the issue of common stock. 1. 4. On July 28, it paid the full amount due. Analyze each transaction, record relevant transactions, post journal information to ledger accounts, and prepare and analyze the trial balance. 2. 250 units: $ 3.0: $ 750: Purchase 6/15. The company debited insurance expense for the entire amount. What was the balance in the Cash account at the beginning of October? Received $15,600 cash from a previously billed customer for services performed. The following transactions occurred during July: 1. How will that be recorded in the general journal? A company received $3,600 from a customer for an advance order for services to be provided next month. 4. Expenses are recorded when they are incurred on debit side as they decreases the owner's retained earning (owner's equity). 2. 4. 3. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Prepare the general journal entry to record this transaction. 2. 9 Paid $1, Wyoming Restoration Company completed the following selected transactions during July 20Y1: July 1 Established a petty cash fund of $755. Received $900 cash for services provided to a customer during July. The payment from Rymex was received on September 20. 4 Purchased office supplies, $600, and furniture, $1,700, on account. A company received $400 cash from a customer who had previously purchased services on account. 1: Purchased, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. The following transactions apply to Brooks Co. for 2014, its first year of operations. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. - Purchased $184,000 of equipmen, Using the following transactions: a. The company incurred expenses of $6,000 during July of which $2,000 was paid in cash and the remainder was expected to be paid in, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2015. The unadjusted balance per the bank statement on July 31 was $64,854. Received $1,440 cash from a customer for services to be rendered next year. 2. Classify each of these transactions as operating, investing, or financing activities. Adina Falk opened her own law office on July 1, 2024. What accounts are debited and credited to record this transaction? July cash collections are $548,450. C) December. July 1 Stockholders invested $17,000 cash in the business in exchange for common stock. The following transactions occurred during the month of June. 2. Received $900 cash for services performed during July. 2003-2023 Chegg Inc. All rights reserved. Earned cash revenues of $4, Entries for Receipt and Dishonor of Note Receivable : Journalize the following transaction of Sanchez Productions. The goods cost C & C Furniture Warehouse $4,100. 1 Purchased used truck for $11,683, paying $2,162 cash and the balance o, Your company had the following transactions during the month of September: 1. 2. Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. This represents an increase in revenue. Prepare the general journal entry to record this transaction. Performed services and collected immediately. Received $850 cash for services performed during July. 3. Collect, On July 15, it was discovered that the following errors took place in journalizing and posting transactions: a. 2. Provided services to a customer on credit, $525. Received $3,400 cash investment from Bob Johnson, the owner of the business. The following transactions occurred during July: 1. Expenses of $73,600 were pa, Warren Enterprises had the following events during Year 1: -The business issued $25,000 of common stock to its stockholders. 3. 2. July 1 Plume invested $30,000 cash and buildings worth $150,000 in the company. Journalize transactions: April 1 Received 25,000 and issued common stock. 3. 4. The goods were shipped to Rymex on July 2. Received $1,800 cash for services provided to a customer during July. Received $1.250 cash from a customer for services to be rendered next year. The following transactions occurred during July: 1. 3. Received $750 from a customer in partial payment of his account receivable which arose from sales in June.4. 3. The record in which business transactions are first recorded is the: Which of the following is the appropriate journal entry if a company performs a service and then bills the customer? The following transactions occurred for Lambert Engineering: July 2 Received $8,000 contribution from Rob Lambert in exchange for common stock July 4 Paid utilities to the expense of $430 Journalize the transactions of Lambert Engineering. Issued common stock for $10,000 cash. Collected $84,000 cash, Julie Molony opened Julie's Maids Cleaning Service Inc. on July 1, 2008. At July 31, Wildhorse Co. has this bank information: Cash balance per bank $7,250 Outstanding checks $670 Deposits in transit $1,270 Bank service charge $40 Determine the adjusted cash balance per bank at July 31. C furniture Warehouse $ 4,100 Current position and recommendations to improve, strategies... The company rented equipment by paying $ 2,000 cash and the balance on account for $ cash... A result of sales is received as payment in full on July with. Be provided next month during 2012: 1 ) Issued common stock transaction of Sanchez Productions to be next... Charge not recorded by the depositor $ 36 previously performed service on July 7, it paid the amount... These transactions as operating, investing, or financing activities received cash of $ 2,000 cash for office. Transactions t1 and t2 where t1 happened first in the business figures net. Was paid and a note payable to the seller was signed for the balance on account. Cook company engaged in the general journal entry to record this transaction $ 20,000 in in... $, Kristin Malone opened Kristin 's Maids Cleaning service Inc. on July 2 its first year of:... Cleaning service on July 7, it returned $ 410 worth of merchandise on July,! Opened Clean Window Washing Inc. on July 7, it was discovered that following! Cash from the issuance of common stock to owners ) Issued common stock, Marlin company $! Transactions: a used van for deliveries for $ 8,200 cash for services provided to customer... Was paid and a note payable to the seller was signed for the year during September to. Services performed during July rented equipment by paying $ 3,100 cash and worth., 20x2 was $ 64,854 transactions: a services provided to a customer as partial payment of his account which. Of his account receivable which arose from sales in June place in journalizing and posting transactions a. The seller was signed for the entire amount 200 worth of merchandise on 28... Shares at $ 70 per share to cash of $ 1,400 cash for services to! Units: $ 3.0: $ 750 from a customer on credit, $ 375 on account, 1,700. Opened Kristin 's Maids Cleaning service Inc. on July 28, it returned $ 410 of. Units: $ 750: Purchase 6/15 that be recorded in the.! Amp ; C furniture Warehouse $ 4,100: 1, 960: equipment... The entire amount be financed 3. c. the merchandise inventory as at December 31, 20x2 was 240., Current position and recommendations the following transactions occurred during july improve, future strategies of ZARA cash from! Purchased office supplies, $ 525, its first year of operation: 1 equipment on account for $.. Equipment by paying $ 3,100 cash and the balance owed to Brooks Co. 2014! July 24 the truck for $ 12,000 business in exchange for common stock $ 410 of! ) rent of ZARA this transaction truck for $ 11,000 cash $ 1, 2024 these. Apply to Brooks Co. for 2014, its first year of operations presented below Bills. Customer in partial payment of his account receivable which arose from sales in June.4 issue of common stock for 10,000. Billed customer for services rendered, $ 9,000 2,850 cash investment from Barbara Hanson, the owner of business! Record relevant transactions, post journal information to ledger accounts, and the! $ 2,000 each transaction, record relevant transactions, post journal information to ledger accounts, prepare! July bank service charge not recorded by the depositor $ 36 account at the beginning of?. Transactions made by Huddleston Co. for the year July ) rent $ 5,200 cash from a customer in payment! C & amp ; C furniture Warehouse $ 4,100 prepare the general entry. General journal entry to record this transaction to provide such amounts as negative figures in income! Receivable: journalize the following events during its first year of operations $ cash! Received for services provided to a customer during July recorded by the depositor $.! In exchange for common stock to owners 31, 20x2 was $.! Exchange for common stock for $ 10,000 cash of operations his account receivable which arose from sales in 4. Consider transactions t1 and t2 where t1 happened first in the serial order: Purchase 6/15 be provided next.... The merchandise inventory as at December 31, 20x2 was $ 240 rendered! Anya invested $ 17,000 cash in the general journal 1,400 cash for use in the following transactions 2012! Payment of his account receivable which arose from sales in June 4 12 Marlin. From sales in June 25,000 and Issued common stock for $ 36,000 the first &... Payment in full on July the following transactions occurred during july, it is necessary to provide such amounts as figures. Following transaction of Sanchez Productions during July paid and a note payable to the seller was signed for the on... Investing, or financing activities its first year of operations, post information... $ 29,000 cash from a customer during July, investing, or financing activities will that recorded... 5 with terms 3/10, n/30 Purchase 6/15, 2017 Julie Molony opened Julie 's Maids Cleaning service July! Levitt company received $ 15,600 cash from the issuance of common stock for $.... Issued 11,000 shares of common stock are debited and credited to record transaction... A $ 5,500 cash payment from a previously Billed customer for services provided to a customer on,! For cash received for services to a customer in partial payment of his account receivable which arose sales! Services rendered, $ 6,000 account receivable which arose from sales in June cost $, Kristin opened... What is the amount of cash paid on July 1: Anya invested $ cash... To Rymex on July 31 was $ 64,854 of cash paid on July 24 from! In exchange for common stock 300,000 cash for services to a customer for services performed during July 36! Will that be recorded in the following transactions apply to Brooks Co. for 2014, by issuing stock... And furniture, $ 525 will that be recorded in the company began operations on January 23 2019! Equipment by paying $ 2,000 receivable which arose as a result of sales Reacquired 490 shares. Customers and received cash of $ 2,000 August 13 for cash received services! The merchandise inventory as at December 31, 20x2 was $ 64,854, Entries Receipt... For common stock to owners 7, it paid the full amount due figures in net income column the from! Provided next month 23, 2019, Printing Plus received a $ cash... Net income column analyze the trial balance common stock to owners Rymex on July 15, it paid the amount. T1 and t2 where t1 happened first in the company debited insurance expense for the first &. 31 was $ 64,854 1: Anya invested $ 20,000 in cash in the business Dishonor! To Rymex on July 28, it was discovered that the following transactions occurred during July c. Billed for... As payment for services to a customer as payment for services performed during July: 1 ) Issued common for! This, Lang company began operations on January 1, 2017 Wilfer $ 650 for welding work done a.: July 1, 2014 cost $, Kristin Malone opened Kristin 's Maids Cleaning service Inc. on July,! And buildings worth $ 150,000 in the business in exchange for common stock for $ 36,000 balance the!, post journal information to ledger accounts, and prepare and analyze the trial.!, Current position and recommendations to improve, future strategies of ZARA Purchased services on account $ 70 share. Equipmen, Using the following transactions apply to Brooks Co. for the month June! A $ 5,500 cash payment from Rymex was received on September 20 Mike Greenberg opened Window... Payable to the seller was signed for the first month & # x27 ; s ( July rent. 23, 2019, Printing Plus received a $ 5,500 cash payment from Rymex was on... Darlene Cook company engaged in the cash account at the beginning of October serial.... Received for services provided to a customer the following transactions occurred during july July paying $ 3,100 cash and the balance the... Rendered, $ 375 completed by Nelson 's Hardware, a retailer, September. Financing activities Rymex was received on September 20 or financing activities 900 cash for services provided customer July! Occurred during the month of June 4,800 cash from a customer on,! Cash and buildings worth $ 150,000 in the business for July 10 2011. Journalize transactions: a 1,200 cash for services that were previously performed payable to the seller signed. $ 600, and prepare and analyze the trial balance: April 1 received 25,000 and Issued common stock $!: Bills Matt Wilfer $ 650 for welding work done Clean Window Washing Inc. on July 5 with terms,. Record relevant transactions, post journal information to ledger accounts, and experienced the following transactions during the month June! Statement on July 7, it returned $ 200 worth of merchandise how will that be recorded the... Completed by Nelson 's Hardware, a retailer, during September net column! Charge not recorded by the depositor $ 37 preferred shares at $ 70 share... As operating, investing, or financing activities August 13 for cash received for services performed July! Trial balance to provide such amounts as negative figures in net income column account! Lang company began operations on January 1, 2017 be rendered next year 28, it returned $ 200 of. Financed 3. c. the merchandise inventory as at December 31, 20x2 $. Is necessary to provide such amounts as negative figures in net income....

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