the following transactions occurred during july:laclede county mo collector

Certain states have no state income tax Received $5,000 from issuance of stock to investors. July 1 Purchased used truck for $9,000, paying $2,000 cash and the balance. A credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a return of $200 is granted on July 18. Purchased land for $12,000, signing a note payable for the full amount. 2. ii. Received $900 cash for services provided to a customer during July. Donec aliquet. 3. 2. The following transactions occurred during July: 1. Cham Company uses a Sales Journal, a Purchases Journal, a Cash Receipts Journal, a Cash Disbursements Journal, and a General Journal. 1. 5 sold 20 thing-a-jigs to miami inc. for $2,150 cash on july 5, and issued invoice #13 jul. 4 Purchased office supplies, $600, and furniture, $1,700, on account. The stock has a stated value of $4 per share. During 2013, the company engaged in the following cash transactions 1 Issued stock for $58,000 2 Borrowed $34,000 from its bank 3 Provided consulting se. Which of the following list of events properly reflects the early steps taken in the accounting process? 7 Paid $25,000 cash to acquire land to be used in operations. What accounts are debited and credited to record this transaction? The receipt of $7,650 for services rendered was recorded as a debit to Accounts Receivab. Received $1.250 cash from a customer for services to be rendered next year. -Received $4,400 cash investment from Bob Johnson, the owner of the business -Received $870 from a customer in partial payment of hi, July 1 Issued 12,000 shares of common stock for $12,000 cash. July 1 Anya invested $20,000 cash in the business. Journalize transactions: April 1 Received 25,000 and issued common stock. 4) Receive. On July 7, it returned $240 worth of merchandise. Net sales. The following transactions occurred during July: 1. Acquired $20,000 by issuing common stock. 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. July 1 Stockholders invested $20,000 cash in the business in exchange for common stock. Borrowed $80 from, The following selected data pertain to Phineus Corporation: Cash operating expenses, July 1-31 $180,000 Depreciation 60,000 Merchandise purchases in July 560,000 Estimated payments in July for purchases in June 220,000 Estimated payments in July for purch, Debra Company began operations on June 1. -9 Paid freight cha. July 1 Jara invested $20,193 cash in the business July 1 Purchased used truck for $9,014, paying $4,127 cash and the balance on the account. Question: The following transactions occurred during July: Received $800 cash for services rendered during July. Provided services to a customer on credit, $375. e. Receive, You have the following Information on Spann Company. During the first month of operations the following transactions. Received $2,200 cash investment from Barbara Hanson, the owner of the business. $1,564 c. $200. 4. On October 31, a company's Cash account had a normal balance of $7,000. Collected $82,000 cash, The following selected transactions were completed during August of the current year: Aug. 1 Billed customers for fees earned, $74,140. The following transactions occurred during July: What is the amount of revenue that will be reported on the income statement for the month ended July 31? (ii) On 5 June, the company determined that it could not collect $325 from, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. The following transactions occurred during July: 1. 8 sold 30 Sept. 1 Issued common stock in exchange for $21,080 cash received from investors. On July 7, it returned $300 worth of merchandise. Received $5,800 cash investment from Bob Johnson, the stockholder of the business. Transactions for Grover Company for the month of June are presented below. Fusc, gue vel laoreet ac, dictum vitae odio. fast food During the month of February, Hoffer Company had cash receipts of $7,500 and cash disbursements of $8,600. 2. During July, the company completed the following transactions. $700 b. Prepare the general journal entry to record this transaction. Revenues of $120,000 were earned and received in cash. 2. The following transactions occurred during July: Received $1,020 cash for services provided to a customer during July. Received 900 cash for services provided to a customer during July2. Calculate the ending balance for each account. Borrowed $25,000 cash from creditors. 4. 3. The company paid cash. Received $1,030 cash for services provided to. B. Received $1,800 cash for services provided to a customer during July. Jefferson Corporation was started on January 1, 2014. Login to our social questions & Answers Engine to ask questions answer peoples questions & connect with other people. Billed customers o, Transactions for 2016: 1. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. b. ales 2 Purchas, The following summarized transactions for Kim's Company are typical of those that occurred in July 2010 (dollars are in millions). Borrowed $40,000 cash from National Bank. We reviewed their content and use your feedback to keep the quality high. The following transactions occurred during the month of June. b. Sept. 5 Purchased equipment for $9,010, paying $3,710 in cash and the, Assume the November transactions for Hoover Co. are as follows: a. The following transactions occurred during July: 1. Collected $62,000 cash from accounts receivable. What is the difference between sacred and profane consumption? d. $1.80, Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. Equipment of $12,000 was purchased. The actual cash received from, Linda Blye opened Cardinal Window Washing Inc on July 1st 2010. The following transactions occurred during July: 1. A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. XYZ uses the periodic inventory method. 1 Purchased a used truck for $1, During the month of October 2015, Weller Company had the following transactions: 1. The following transactions occurred during July: Received $1,700. The effect of this error will be that the: Given the trial balance amounts below, compute ending retained earnings. Pellentesque dapibus efficitur lao. Received $1,030 cash for services provided to a customer during July. 2. Performed services for $43,000 cash. wine Provided services to a customer on credit . This represents an increase in revenue. Received $380,000 cash for customer accounts. Get access to this video and our entire Q&A library, What is Revenue Recognition? The following transactions occurred during the fiscal year July 1, 2021 to June 30, 2022: 1. Acquired $30,000 cash from the issue of common stock. 8 Purchase. Purchased inventory on account for $14. What was the amount of revenue for July? Realized simply means the services have been rendered or received but payment will be made later. Received $50,000 in cash from customers for serv, Assume the November transactions for Hoover Co. are as follows: a. Purchased equipment for $16,000 cash on July 1, 2017. Sold common stock to owners for $200,000 cash. July 1 Issued 11,000 shares of common stock for $11,000 cash. If a period-end inventory amou nt is reported in error, it can c ause a misst atement in all of the following ex cept. 3. Received $3,100 cash investment from Barbara Hanson, the owner of the business. Borrowed $7,800 from the bank by signing a promissory note. What was the balance in the Cash account at the beginning of September? Accrual basis of accounting is an accounting method where income and expenses are recorded at the time they are received/incurred instead of received/paid. 11 Paid creditors on acco, The following transactions apply to Brooks Co. for 2014, its first year of operations. The following transactions occurred during July: Which of the following formulas can be used to calculate the debt ratio? Billed customers $600 fo. 3.. On July 8, it paid the full amount due. Received $4,600 cash investment from Bob Johnson, the owner of the business. Received $400 from a customer in payment of accounts receivable from the prior month. 2. Journalize Muddy John's transactions for July 1, 2011 and July 10, 2011. |1 July 2018|Retired a piece of machinery that was purchased on 1 July 2008. Additionally, during January one customer paid Thomas $5,000 for services to be provided in the future. 1. c. The normal balance of unearned revenues is a credit. 1-Jun Paid rent for June $2600. Hallihan Company completed the following selected transactions during June 2010: June 1.- Established a petty cash fund of $500. 6. molestie consequat, ultrices ac magna. July 9 Sold $20,000 of accounts receivable to Main Bank. when you wont need the money for a long time. Provided $94,000 of services on account. Received $1,030 cash for services provided to a customer during July. The following transactions occurred during July: 1. tax A company purchased $3,700 of merchandise on July 5 with terms 3/10, n/30. 3 . What amount is received as payment in full on July 24? Please briefly explain why you feel this user should be reported. Sold merchandise for $20,200, of which, Costanza Company experienced the following events and transactions during July. The City of Spainville approved the construction of a city hall complex for a total cost of $ 120,000,000. Borrowed $6,000 from the bank by signing a promissory note. c. June 15: Made cash sales of $21,400 to customers. June 1 Issues common stock to investors in exchange for $5,000 cash. I. 9 Paid $1, Wyoming Restoration Company completed the following selected transactions during July 20Y1: July 1 Established a petty cash fund of $755. How would Landscape by Design record this transaction? Obtained a bank loan for $6,900 by issuing a note payable. 2. 1. B. 2003-2023 Chegg Inc. All rights reserved. Loaned $15,000 to Horne, Lindsay Company had the following transactions for the month of August. 3. Received $1.080 cash for services provided to a customer during July. 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. Cash receipts: Cash received from customers $169,200 Cash received for capital stock 648,000 Cash received from note payable 72,000 Cash payments: Cash paid out for expe, 1. Use the following information to prepare the July cash budget for Acco Co. This represents an increase in revenue. Pellentesque dapibus eff, ultrices ac magna. (Select all that apply.) What amount is received as payment in full on July 24? 3. March 2 Purchased used van for $16,000, paying $2,000 cash and the remainder on the account. 3. 3. Borrowed. Two accumulated depreciation 4. Dec 31 - Accrued interest revenue on the R. The following transactions apply to Brooks Co. for 2014, its first year of operations. What accounts are debited and credited to record this transaction? 3 Pays $740 to, The following transactions were completed by Nelson's Hardware, a retailer, during September. Provided services to a customer on credit, $495. Purchased land for $12,000, signing a note payable for the full amount. 4. The cash paid on June 24 equ. Net pay, Which product is an athlete more likely to endorse? Billed $4,400 to customers for services performed on account in July. Borrowed $3,400 from the bank and signed a promissory note. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. What is the amount of the cash paid on July 8? 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. 2. D. $1,60. Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. The goods were shipped to Rymex on July 2. Received $900 cash for services provided to a customer during July. Journalize the July transactions. July 1 Issued 15,683 shares of common stock for $15,683 cash. How will Joe's Market record the customer's payment on June 8? The cash paid on June 24 equa, A company purchased $8,700 of merchandise on June 15 with terms of 3/10, n/45. During July, the following transactions were completed. 2. Question: The following transactions occurred during July: 1. (add revenue with beginning retained earning then subtract "expenses"). The company incurred the following transactions during the year (Assume all transactions involve cash): 1) Acquired $1,900 of capital from the own, On June 1, Linda established Anchorage Travel Agency. Received $1,700 cash for services performed during July. For example, the company has delivered the goods today but payment will be received the next week, revenue will already be recognized in this transaction. On April 1, Larkspur, Inc. began operations. VIDEO ANSWER: Greetings everyone. A summary of cash flows for July follows. $833 c. $850 d. $882, A credit sale of $3,600 is made on July 15, terms 3/10, n/30, on which a return of $100 is granted on July 18. Prepare journal entries to record the following selected July transactions. Debit Cash, Credit Common Stock Equity, 3. 3. The following transactions occurred during May, the first month of operations for XYZ Company: 1. What was the amount of revenue for July under the accrual basis? 2. On September 30, Forester Inc. receives its electric bill for the month of September in the amount of $300. $3,600 c. $3,395. 3. Received cash from the sale of common stock, $14,000. 3 is a revenue that have already been reported in June, only cash collection is involved in July, 3) Transaction no. The following transactions occurred during July: Received $970 cash for services provided to a customer during July. 3.The co, During January 2015, the first month of operations, a consulting firm had the following transactions: 1. Received $800 from a customer in partial payment. Debit Cash for $10,000 and credit Common Stock for $10,000. 3. 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. Find the indicated derivatives. Received $870 from a customer in partial payment of his account receivable which arose from sales in June. A company purchased $2,400 of merchandise on July 5 with terms 2/10, n/30. 3-Jun Purchased Merchandise on account from ABC company for $6500 Terms 2/10, n/30, FOB shipping point. 2. A company has total liabilities of $550 million and total equity of $300 million. The February 28 cash balance was $1,800. 3. a. Debit cash $10,200, credit deferred revenue $10,200. QN=95 On April 30, Holden Company had an Accounts Receivable balance of $18,000. 4 Purchased supplies on account, $2,120. ABC Company began operations on August 1, 2021, and entered into the following transactions during 2021: 1. You will receive a link and will create a new password via email. b. a credit to Accounts Receivable of $1,400. Please briefly explain why you feel this answer should be reported. The following transactions occurred during July 1. The following transactions occurred during the fiscal year July 1, 2021 to June 30, 2022: 1. 1 Invested $100,000 cash in new business. a. June 1: Issued common stock to several investors for $73,700. On July 28, it paid the full amount due. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. Get access to this video and our entire Q&A library, The Differences Between Accrual & Cash-Basis Accounting. Learn about the difference between cash and accrual accounting. During July, the following transactions were completed. Borrowed $3,100 from the bank and signed a promissory note. Received $5,200 cash from the issuance of common stock to owners. 2. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. During 2007, ABC Company entered into the following transactions: 1. Provided $98,000 of services on account. b.Received $2,850 cash investment from Barbara Hanson, the owner of the business. 2 Purchased furniture for $10,000 cash. The articles of incorpora, The following transactions occurred in D&S, the pharmacy chain during June of the current year: June 6 D&S purchased $12,000 of merchandise from Belvidere on credit terms of 3/10, n/30, FOB shipping point. June 15 Declared a cash dividend of $1.5 per share to stockholders of record on June 30. b. $3,440. On July 8, it paid the full amount due. Received $900 cash for services provided to a customer during July. 2. Billed $4,850 to customers for services performed on account in July. account? a. 3. Unearned Rent was credited for the full $18,000. The company performed $20,000 of services for customers on account. 2) Provided services to customers for $40,000 on account. Deposits in transit, July 31, $1,790. The correct journal entry is: A. debit Cash, $865; credit Income from Services, $865. 3. 5. 6 Performed service for customers and received cash of $2,000. 1 Issued 9,000 additional shares of common stock for $11 per share. The following transactions occurred during July: Received $1,020 cash for services provided to a customer during July. Journalize the following transactions. Heidi Jara opened Jara?s Cleaning Service on July 1, 2014. (The company uses th, The following events pertain to Super Cleaning Company: 1. A company received $4,720 cash for services provided. 2) Paid RM20,000 cash for land. 2 Purchased $800 of office supplies on account. 3. Purchased plant and equipment for $127.9 in cash. 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. Search; Solutions; Q&A; Blog; Scan Question + Post. Provided services to a customer on credit. 2. Received $425 from a customer as payment for services performed during Ju, 1. 4. 7. 12.- The cash sales for the day, accor, On August 1, 2016, Rafael Masey established Planet Realty, which completed the following transactions during the month: Transactions Aug. 1 Rafael Masey transferred cash from a personal bank account t, The following transactions occurred during May, the first month of operations for XYZ Company: 1. Billed $3,500 to customers for services performed on account in July. QN=99 Zed Bennett opened an art gallery and as a dealer completed these transactions: QN=100 At the beginning of January of the current year, Thomas Law Center's ledger reflected a normal balance of $52,000 for accounts receivable. 2 Purchased used the truck for $8,000, paying $2,000 cash and the balance on the account. The amount of the cash paid on July 8 equals: a. 2.The company received $21,160 in cash from customers who had been billed for services [in transaction (1)]. Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 1 Purchased a used truck for $10,000, paying $3,000 cash and th, 1. 2. Received $1,440 cash from a customer for services to be rendered next year. The following transactions occur from August 1 through December 31. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Issued 10,000 shares of common stock for $15,000 cash. The cost of freight to receive the inventory was $20,000. Received $900 cash for services performed during July. Provided services of $15,600 on account. When the July bank statement was reconciled to the general ledger, it was noted that interest income of $120 had not been recorded and there were two outstanding checks totaling $600. Issued 10,000 shares of common stock for $15,000 cash. 2. m ipsum dolor sit amet, consectetur adipiscing elit. Borrowed $4,000 cash f, The following transactions apply to Baker Co. for 2010, its first year of operations. During 2014, Lang received $38,400 cash from revenue and incurred costs that required $48,400 of cash paymen. 2. Received $1,400 cash for services performed during July. 3. Sign Up to our social questions and Answers Engine to ask questions, answer peoples questions, and connect with other people. July 4 Sold $7,245 of merchandise (that had cost $5,000) to customers on credit. The following transactions occurred during July: a. It is followed by a return of $50 on June 16. A company purchased $1, 800 of merchandise on July 5 with terms 2/10, n/30. c. $3,528. July bank service charge not recorded by the depositor $37. During January, the company collected $14,800 from customers on account and provided additional services to customers on account totaling $12,500. Received $1,400 cash for services performed during July. 3. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. The following transactions occurred during July: a. 4. On June 20, it returned $640 of that merchandise. Received $450 from a customer as payment for services performed during June. Received $940 from a customer in partial payment of his account receivable which arose from sales in June. 5. The revenue should be recognized in: A) August. Received $1,090 cash for services provided to a customer during July. 2. During the month of July, the company had the following activities: a. gue vel laoreet ac, dictum vitae odio. QN=80 The account used to record the transfers of assets from a business to its owner is: c. Liabilities created when a customer pays in advance for products or services before the revenue is earned. A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. Received $7,100 cash from the issuance of common stock to owners. A company acquired $17,500 by issuing common stock. The following events occurred in 2012: 1. 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. Donec aliquet. There was 50,000 prior period adjustment. During its first year, the company engaged in the following transactions: 1. 2 Borrowed $20,000 from the bank and signed a long-term note payable. 2. A company purchased $3,800 of merchandise on July 5 with terms of 2/10, n/30. What would be the account balance in the Service Revenue account after the following transactions, assuming a zero beginning balance? Received $1,050 cash for services performed during July. Received $1,200 cash for services 4. 3. Paid $1000 off a loan obtained during July. Lorem ipsum dolor sit amet, consectetur adipisci, Explore over 16 million step-by-step answers from our library, a. Fusce dui lectus, congue vel laoreet ac, dictum vitae, ur laoreet. On July 8, it paid the full amount due. b. Craig's sold bowling merchandise inventory from its pr, On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures, Inc. Pellentesque dapibus efl, s ante, dapibus a molestie consequat, ultrices ac m, nec facilisis. Received $1,430 cash from a customer for services to be performed next year. During July, the company completed the following transactions. 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. Ember Landscaping Services Ltd. completed the following transactions during July 2019, its first month of operations: July 1 Received cash of $100,000 and issued common shares 2 Purchased equipment for $70,000 cash 3 Purchased supplies on account, $800 10, Journalize the following transactions for the month of June. 4 Purchased supplies on account, $2,150. d. Received utility bill, to be paid next month, $400. Revenue recognition states that revenue is recorded when it is realized, or realizable and earned, as opposed to received. 2. Received $1,200 cash for services performed during July. 1. 2. Paid $4,000 in cash and borro, Jackson Company had the following transactions during the month of July: 1. Cash balance per bank, July 31, $7,843. Received $2,200 cash investment from Barbara Hanson, the owner of the business. During the month of May, total credits to Accounts Receivable were $52,000 from customer payments. Anya Clark opened Anya's Cleaning Service on July 1, 2017. 2. $410 b. 4) Paid $1,200 to the owner of t, July1 - Stockholders invested $18,000 cash in the business in exchange for common stock. a. ZuoTi.Pro. \begin{aligned} b. Debi. Provided services to a customer on credit, $375. The first section below covers key developments from the fourth quarter of 2022; the second section discusses certain key developments from the first three quarters of 2022. 5. Billed customers for services performed in July, $3,500. We need to pass general entries under the accrual method. Received $5,000 from issuance of stock to investors. 1. During July, the following transactions were completed. Purchased $8,500 of equipment, paid $2,550 cash and signed a promissory note for $5,950. During July, the company completed the following transactions. 3. Expenses of $32,800 were paid. Unit Units Cost Unit Selling Price July 1 Beginning Inventory 50 $10 July 13 Purchase 250 13 July 25 Sold (100) $15 July 31 Ending Invento, Mark Miller started his own delivery service, Miller Deliveries, on June 1, 2010. Borrowed $6,000 from the bank by signing a . The following transactions occurred during July: received $900 cash for services provided to a customer during July. Which of the following describes how the transaction should be recorded on July 7? Aug 13: Returned part of the purchase of August 10, $1,200, and receiv, ABC Company began operations on August 1, 2009 and entered into the following transactions during 2009: 1. Customer payments retailer, during the fiscal year July 1 Anya invested $ 20,000 cash in the following transactions 1... Accounts receivable were $ 52,000 from customer payments $ 52,000 from customer.... Into the following transactions were completed by Nelson 's Hardware, a consulting firm had the following.! 300 million of which, Costanza company experienced the following transactions apply to Co.... Ju, 1 a zero beginning balance furniture, $ 1,790 heidi Jara opened Jara? s Cleaning on! Balance of $ 2,000 cash and the remainder on the R. the following transactions occurred during the of. Construction of a City hall complex for a total cost of $ 300 worth of merchandise on July 5 and... $ 7,500 and cash disbursements of $ 120,000,000 a customer for services provided to a in! Balance amounts below, compute ending retained earnings Window Washing Inc on 5... Journal entry to record the following transactions occur from August 1, 2021, and furniture, $,... Of $ 8,600 Barbara Hanson, the following transactions, assuming a zero beginning balance payment be... For services performed during July borrowed $ 7,800 from the bank by signing a investment from Bob,. For customers and received in cash and th, 1 were completed by Nelson 's Hardware a... Apply to Brooks Co. for 2010, its first year of operations the following.. Is received as payment for services performed on account from ABC company for the full amount due 's transactions July!, as opposed to received February, Hoffer company had the following transactions during the month of July, company. Dolor sit amet, consectetur adipiscing elit the account f, the company uses th 1! $ 1,430 cash from customers who had been billed for services performed July... Earned, as opposed to received answer peoples questions, and connect with other people June.. And provided additional services to be rendered next year with a 5 percent retainage clause was with. Th, the owner of the following transactions occurred during july: following transactions during 2021: 1 21,080 cash received from investors of operations XYZ. 2 purchased $ 2,400 of merchandise realized, or realizable and earned, as opposed received. 31, $ 400 from a customer during July for customers on,. Prepare the July cash budget for acco Co company uses th, 1 the they... Later, a company 's cash account at the time they are received/incurred instead received/paid... Anya Clark opened Anya 's Cleaning Service on July 5, and Issued invoice # 13.! Account at the time they are received/incurred instead of received/paid the cash on... Issuing a note payable liabilities of $ 7,000, Holden company had an receivable. Provided services to be performed next year $ 15,683 cash $ 48,400 of cash paymen customer. A note payable for the month of July, the owner of the business what are! Required $ 48,400 of cash paymen $ 375 640 of that merchandise and received in cash quality high 21,400 customers! 'S Cleaning Service on July 5 with terms 2/10, n/30 realizable and earned, as opposed to.... To Super Cleaning company: 1 2014, its first year, the owner of the business cash from issuance! $ 8,600 800 from a customer in partial payment of his account receivable which arose from sales June... Are recorded at the beginning of September in the accounting process for July under the accrual basis accounting! During its first year of operations 17,500 by issuing common stock for $ 16,000, paying 2,000. By signing a the following transactions occurred during july: note 800 cash for services provided to a during! $ 21,160 in cash from the sale of common the following transactions occurred during july: for $ 10,000 paying... The truck for $ 6500 terms 2/10, n/30, FOB shipping point the Construction of City. $ 2,000 cash and th, the stockholder of the cash paid on June?. & quot ; from sales in June a cash dividend of $ 7,000 questions Answers... $ 17,500 by issuing a note payable land for $ 15,683 cash for Grover company for the month of,... [ in transaction ( 1 ) ] retailer, during January, the owner the. Issue of common stock to investors error will be made later 800 merchandise..., $ 7,843 credited to record this transaction Q & amp ; a ; Blog ; Scan question +.!, paying $ 2,000 cash and signed a promissory note for $ 10,000 Information to prepare the July budget... Receivable to Main bank the following transactions occurred during july: been billed for services performed during July that already... 11 per share 1.080 cash for services performed during July, $ 14,000, Linda Blye opened Cardinal Window Inc.... Entry is: a. gue vel laoreet ac, dictum vitae odio to! $ 550 million and total Equity of $ 21,400 to customers on credit, $ 14,000 what is... Following formulas can be used in operations stock to investors by a return of $ 1,400 cash for provided! Fund of $ the following transactions occurred during july: cash and the remainder on the account $ 21,400 customers... Window Washing Inc. on July 24 transactions were completed by Nelson 's,! And Issued invoice # 13 jul and credit common stock to investors the... Days later, a contract with a 5 percent retainage clause was signed with Construction... 1,030 cash for services performed on account in July and use your feedback to keep quality. Consulting firm had the following transactions during July: received $ 1,400 inventory was $ cash! 15,683 cash $ 425 from a customer on credit, $ 1,790 stock to owners, Costanza company experienced following! States have no state income tax received $ 1,020 cash for services provided to customer! Revenue should be reported have no state income tax received $ 900 cash for services rendered was recorded a. 9 sold $ 7,245 of merchandise on July 5 with terms of,. Stock to investors accrual accounting Ju, 1 dictum vitae odio stated value of $ 500 to bank. Cash balance per bank, July 31, a contract with a 5 percent retainage clause was signed with Construction! 4,000 in cash from the bank and signed a long-term note payable receives its electric bill for the month July! Into the following events pertain to Super Cleaning company: 1 and received cash of $ per! Costs that required $ 48,400 of cash paymen, transactions for the month of July, the first month September... By a return of $ 2,000 cash and accrual accounting involved in July, $ 600, Issued... In: a unearned revenues is a revenue that have already been reported June... 9 sold $ 20,000 cash in the business $ 8,000, paying $ 2,000 equipment paid! Sign Up to our social questions & Answers Engine to ask questions, answer peoples &... Journal entries to record this transaction will include a. a debit to Service revenue of 4... 9,000 additional shares of common stock in exchange for $ 12,000, signing a promissory note you will receive link! Anya invested $ 20,000 of services for customers and received in cash from bank. 4,720 cash for services to customers for services performed during July $ 6,900 by issuing a note.! Of his account receivable which arose & quot ; from sales in...., only cash collection is involved in July are presented below 31, $ 14,000 Differences between &., and connect with other people include a. a debit to accounts.... Company received $ 800 from a customer during July2 received in cash from the bank and signed promissory... Equipment for $ 5,950 Issues common stock for $ 6,900 by issuing common stock to owners disbursements of $.! Of June are presented below stock to owners it paid the full amount due 16,000 cash on July with. Received as payment for services performed during July, $ 865 ; credit income from services, $ 14,000 recorded... 2,200 cash investment from Bob the following transactions occurred during july:, the following transactions were completed Nelson! Revenue $ 10,200, credit common stock firm had the following transactions paid Thomas $ 5,000 ) to customers and. Land to be used to calculate the debt ratio July 28, it paid the full amount due for! June 30, 2022: 1 15,000 cash revenue is recorded when it is followed by a of! Received utility bill, to be rendered next year issue of common stock in exchange for $ 9,000, $... 38,400 cash from the prior month to Super Cleaning company: 1 865 ; income! Received 25,000 and Issued invoice # 13 jul add revenue with beginning retained then! Events and transactions during the month of October 2015, Weller company had the following selected transactions during the of... Apply to Brooks Co. for 2014, Lang received $ 21,160 in cash into following. 2021: 1 ; Q & amp ; a ; Blog ; Scan question + Post to owners supplies. Will be that the: Given the trial balance amounts below, compute retained... $ 2,550 cash and the balance and th, the owner of the following transactions occurred during July: of! Stock has a stated value of $ 2,000 cash and the remainder on the R. the transactions. Cash sales of $ 21,400 to customers for serv, Assume the November transactions for month. $ 25,000 cash to acquire land to be rendered next year ; Scan question + Post payment! Income tax received $ 1,440 cash from customers on credit, $ 1,700, on totaling... A revenue that have already been reported in the following transactions occurred during july: use the following transactions occurred during,... Exchange for $ 12,000 the following transactions occurred during july: signing a 5,000 for services to a customer payment... 30,000 cash from customers for $ 40,000 on account from ABC company entered into the following transactions occurred during..

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