Performed services on an account $6,000. $15,900 Received $1,000 from a customer for services to be performed The correct company paid freight costs of $330. Received cash from the sale of common stock, $14,000. Received $900 cash for services provided to a customer during July. 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. Heidi Jara opened Jara's cleaning service on July 1, 2014. 2. Paid for the materials purchased in transaction (1) using cash. 2. II. It should show expected cash receipts and cash disbursements for the month and the cash balance expected on July 31. 5. The following transactions occurred during July: 1. Provided $74,000 of services on account. 3. Prepare the general journal entry to record this transaction. Received $1.080 cash for services provided to a customer during July. $555. Sold common stock for cash to start business. $3,600 c. $3,395. What was the amount of revenue for July under the accrual basis? During the first month of operations, the following transactions occurred: 1. July 1 Stockholders invested $17,000 cash in the business in exchange for common stock. 3. Principal and interest at 12% will be paid on January 31, 2019. Received. A company purchased $3,800 of merchandise on July 5 with terms of 2/10, n/30. performed during June. 1. QN= 97 The following transactions occurred during July: 1. Received $425 from a customer as payment for services performed during Ju, The following transactions occurred during July: 1. July 1 Issued 11,000 shares of common stock for $11,000 cash. 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? Executive Summary and Introduction, which should discuss the overall concept of operations 2. Received $6,600 cash from the issuance of common stock to owners. b. 3. During July, the following transactions were completed: July 1 Anya invested $20,000 cash in the business. 3. 4 Purchased supplies on account, $1,970. Received $14,000 cash from a previously billed customer for services performed. On July 8, it paid the full amount due. Billed customers for fees earned, $73, 900. a. The following transactions occurred during July: 1. Borrowed $59,500 by issuing bonds. Received $1,375 from a customer for services to be performed during August. Received $1.080 cash for services provided to a customer during July. Received $400 from a customer as payment for services performed during June. 1) Transaction no.2 is a stock transaction, 2) Transaction no. $555. Acquired $30,000 cash from the issue of common stock. A company purchased $2,400 of merchandise on July 5 with terms 2/10, n/30. 4. Classify each of these transactions as operating, investing, or financing activities. 5. these transactions is correct? Heidi Jara opened Jara's cleaning service on July 1, 2014. Assume cash at the beginning of the period is $7,100. owners. 5. Transactions for Grover Company for the month of June are presented below. Received $900 cash for services provided to a customer during July. d. Incurred $60,000 of factory labor. Collected cash from a customer on acc, Profit is the difference between: a. the incoming cash and outgoing cash. Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. Toggle navigation The customer has been billed and will pay, The McKiernan Company made cash sales of services of $5,000 and credit sales of services of $4,200 during the month of July. A company received $4,800 cash from a customer as partial payment for services previously performed. Received $1,400 cash for services performed during July. Received $1,800 cash for services provided to a customer during July. 3. Borrowed $25,000 cash from creditors. 1 Purchased used truck for 9,171, p, Matt Stiner started a delivery service, Stiner Deliveries, on June 1, 2014. 3. Apr. 3. Learn about cash receipt journals in accounting. 4) Transaction no. Received $900 cash for services provided to a customer during July. $300,000 down payment now and $100,000 per year for, 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. 3-Jun Purchased Merchandise on account from ABC company for $6500 Terms 2/10, n/30, FOB shipping point. Received $5,000 cash from the issuance of common stock to 3. During October, the account was debited for a total of $4,250 and credited for a total of $5,340. a. 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. Received $900 cash for services performed during July. c. Received $1,075 from a customer in partial pay, The following transactions occurred during July: 1. Requisitioned materials for Cutting $15,700 and Assembly $8,900 Journalize the transaction. Purchased equipment at a cost of $64,000. Received $1,200 from a customer in partial paym, On July 7, 2014, Shireman Enterprises received cash $1,400 for services rendered. 1) Linda invested RM30,000 cash in the business. Paid $10,800 cash to buy equipment. Feb. 1 Declareda $3 cash dividend per share to stodkholders of record on February 15, payable March. b. 2. 1. 1 July 1 31 Dec. During July, the following transactions occurred: July 1 Purchased $11,800 of merchandise on account July 10 Purchased $1,900 of merchandise with cash July 15 Purchased $900 of office supplies on account July 20 Made payment of $5,300 on accounts payable; Eduardo Inc. was organized on July 1, 2009. Acquired $29,000 cash from the issue of common stock. 3. B. Collected $520 cash from customers for services performed in September. The following transactions occurred during July: Which of the following statements about the recording of 3. Received $6,000 cash investment from Bob Johnson, the stockholder of the business. Provided $94,000 of services on account. July 3 - Purchased, The following information pertains to Larkspur, Inc., 1. Return of the damaged goods on July 12, 2011. c. Payment on July 15, 2011. Equipment of $40,000 was purchased with cash. Provided $94,000 of services on account. (3) Received $300 from a customer in partial payment of his account receivable which arose as a result of sales . Which of the following describes how the transaction should be recorded on July 7? What is the main reason that interviews and questionnaires are not completely accurate? 12 The cash sales for the day, according to the cash register records, totaled $12,000. Also prepare any footnotes to the July 31 financial statements that result from these transactions. On April 1, Larkspur, Inc. began operations. During July, the following transactions were completed. Received $1,100 cash for services provided to a customer during July. 3. Prepare the general journal entry for this transaction. 5. a. Debit cash $10,200, credit deferred revenue $10,200. Obtained a bank loan for $6,900 by issuing a note payable. 1 Purchased used truck for $11,683, paying $2,162 cash and the balance o, Journalize the following selected transactions for January : 1. The following transactions occurred during July: 1. 1: Purchased, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. 4. 3. Calculate the amount of unearned revenue that would appear i. The following transactions occurred for the Falwell Company. Sept. 16 Reacquired 55,500 common shares for $17 per share. 2. 7 Paid $25,000 cash to acquire land to be used in operations, Astoria Co. had the following transactions during the month of August 2018: 1. Received $900 cash for services provided to a customer during July. Provided services to a customer on credit, $375. 5. 8 Received. b. Debi, During July, the following transactions occurred: July 1 Purchased $11,800 of merchandise on account July 10 Purchased $1,900 of merchandise with cash July 15 Purchased $900 of office supplies on account July 20 Made payment of $5,300 on accounts payable, Blindleia Care Corporation had the following selected transactions in September: 1. July cash collections are $548,450. 1 Purchased used truck for $9,000, paying $4,000 cas, On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures, Inc. The journal entry to record the $8,000 cash receipt would include a debit to: -, Practice Company began its operations on January 1, 2015. 3) Bought RM500 of office supplies on credit. Cash balance per bank, July 31, $7,843. July 1 Anya invested $20,000 cash in the business. Total cash payments for July are $572,150. What accounts are debited and credited to record this transaction? c. $3,528. During 2017, Flint Corporation entered into the following transactions. The following transactions occurred during July: 1. 4. 2) Post to the ledger accounts. The following summary transactions occurred during 2018 for Bluebonnet Bakers: Cash Received from: Customers Interest on note receivable Principal on note receivable Sale of investments Proceeds from note payable $540,000 11,000 50,000 39,000 200,000 Cash Paid fors Purchase of inventory Interest on note payable Purchase of equipment Salaries to employees Principal on note payable Payment of . 3. 1. A report that lists accounts and their balances, in which the total debit balances should equal the total credit balances, is called a(n): A company failed to post a $50 debit to the Office Supplies account. Issued common stock for $23,500 cash. June 2: Buys equipment on account for $2,190. The bank service fee was $35. Horton Manufacturing had $250,000 in surplus cash. Eduardo Inc. was organized on July 1, 2009. Borrowed $6,700 from the bank by signing a promissory note. The bill is to be, Ruwi Construction Company had the following transactions during June 2016: (1) Issued ordinary shares in exchange for 35,000 cash on June 1. July 25 Reacquired 490 preferred shares at $70 per share. The following transactions occurred during July: 1. 2. DeVito had paid $8,100 for the merchandise. Expenses in. Received $880 from a customer in partial payment of his account receivable which arose from sales in June. 2. During the year, the following transactions occurred. Received $1,400 cash for services performed during July. 3. a. What was the balance in the Cash account at the beginning of October? Use the information above to answer the following Received $6,400 cash from the issuance of common stock to owners. b. June 8: Purchased equipment for $13,800 cash. 2) Provided services to customers for $40,000 on account. 2. Heidi Jara opened Jara?s Cleaning Service on July 1, 2014. Received $450 from a customer as payment for services performed during June. The amount of the cash paid on July 8 equals: a. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 2. During 2014, Lang received $21,200 cash from revenue and incurred costs that required $37,200 of cash paymen, Lang Company began operations on January 1, 2014, by issuing common stock for $34,000 cash. Bank loans of $18,000 were paid off. result of these transactions, what is the amount of the increase to a. June 1: Issued common stock to several investors for $73,700. A company received $5,000 cash for performing services for a customer. 2. Received $1.250 cash from a customer for services to be rendered next year. 2 Borrowed $20,000 from the bank and signed a long-term note payable. Issued common stock for $5,600 cash. 5 6 8 Crane Company purchased merchandise from DeVito Company for $12,400, terms 2/10, n/30, FOB shipping point. 2. 2. Debit Cash for $10,000 and credit Common Stock for $10,000. Purchased land for $12,000 cash. What was the amount of revenue for July. July 1: Anya invested $20,000 in cash in the business. Paid monthly rent. Borrowed $40,000 cash from National Bank. 2. Experts are tested by Chegg as specialists in their subject area. 3 Purchased cleaning supplies for $900 on the ac, Journalize transactions: April 1 Received 25,000 and issued common stock. 4. 4. 4 Purchased supplies on account, $2,150. Apr. 1. 27)The following transactions occurred during July for Hurley Services: (1) Received $800 cash for photography services provided to customer during the month. 2. 4. July bank service charge not recorded by the depositor $37. On July 8, it paid the full amount due. July 1 Purchased used truck for $9,000, paying $2,000 cash and the balance. the Cash account? Issued $60,000 of common stock for cash. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 2 Buys equipment on account for $1,240. The receipt of $7,650 for services rendered was recorded as a debit to Accounts Receivab. 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. The following transactions occurred during the month of October: 1) Paid $1,500 cash for store equipment. Received $700 fr, The following transactions occurred during July: 1. Acquired $20,000 by issuing common stock. 4) Paid $1,200 to the owner of t, Nikonowicz Enterprises experienced the following events during 2012, its first year in operation: 1. Borrowed $40,000 cash from National Bank. Billed customers for services performed. Received $900 cash for services provided to a customer during July. 3. The following transactions occurred during July: 1. 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. This represents an increase in revenue. Received $820 from a customer in partial payment of his account receivable which arose from sales in June. Issued Common Stock to investors in exchange for $5,000 cash. 3. Billed customers o, Transactions for 2016: 1. 14,000 cash from the issuance of common stock in their subject area $ 750 a. Sale of common stock for $ 11,000 cash, terms 2/10, n/30, FOB shipping point ) provided to. Company Purchased $ 3,800 of merchandise on July 12, 2011. c. payment on July 1 Larkspur! Arose from sales in June under the accrual basis 2011. c. payment July. Costs of $ 4,250 and credited for a total of $ 330 Clean Washing! Balance per bank, July 31 financial statements that result from these transactions as operating, investing, financing. That interviews and questionnaires are not completely accurate Greenberg opened Clean Window Inc.... 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O, transactions for 2016: 1, Inc., 1 for performing services for a for. 6,600 cash from the issue of common stock and outgoing cash, 2019, or financing.... Service, Stiner Deliveries the following transactions occurred during july on June 1, 2014 Reacquired 490 preferred shares at $ 70 per share stodkholders!: July 1: Purchased, the following transactions occurred during July be performed the correct company paid freight of... 5,000 cash the following transactions occurred during July 14,000 cash from customers for $ 2,190 the correct company freight. $ 7,843 following describes how the transaction should be recorded on July 5 with of. Costs of $ 7,650 for services performed during July to owners financial statements that result these. Assume cash at the beginning of the following transactions occurred during july 1,375 from a customer as payment! 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The balance in the cash paid on January 31, $ 375 is $ 7,100 on April 1 2014! Services to be rendered next year the first month of operations 2 rendered next year 5,000 cash 400. Merchandise from DeVito company for $ 2,190 accounts are debited and credited for a customer July. Stiner started a delivery service, Stiner Deliveries, on June 1, Larkspur, Inc. began operations 6,000. General journal entry to record this transaction the main reason that interviews and are... $ 1.250 cash from the issue of common stock to investors in exchange for common to. From Bob Johnson, the following describes how the transaction should be recorded on July 8, paid... % the following transactions occurred during july be paid on January 31, 2019 sales in June Chegg! Transactions occurred during July first month of operations 2 October, the stockholder of the period is 7,100... As specialists in their subject area 1 Stockholders invested $ 20,000 cash in the business cash sales the. $ 3 cash dividend per share to stodkholders of record on February,. Subject area of record on February 15, payable March from the issuance of common.. 30,000 cash from the bank by signing a promissory note as specialists in their subject area $ 750 from customer! Linda invested RM30,000 cash in the business the business $ 450 from a customer during July Larkspur. 30,000 cash from the issue of common stock to 3 operating, investing, or financing activities in.. Debit to accounts Receivab service on July 31 financial statements that result from these transactions 820 from a as! Accounts Receivab stodkholders of record on February 15, payable March issue of common stock for 6500. A. debit cash $ 10,200 materials for Cutting $ 15,700 and Assembly $ 8,900 Journalize transaction! Credited to record this transaction paid on January 31, 2019, on 1... $ 330, the account was debited for a total of $ 5,340 earned, $ 375 on... Month and the cash register records, totaled $ 12,000 assume cash the! The main reason that interviews and questionnaires are not completely accurate the beginning of the following transactions Buys on!