the following transactions occurred during july:

Received $850 cash for services performed during July. A summary of cash flows for July follows. 2 Purchased used the truck for $8,000, paying $2,000 cash and the balance on the account. July 1 - Purchased a used truck for $10,000, paying $3,100 cash and the balance on account. Dexter invests $10,000 cash in Camden in exchange for its common stock. Posted one month ago View Answer Q: 3. A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. A company has total liabilities of $550 million and total equity of $300 million. Cash balance per bank, July 31, $7,843. On July 28, it paid the full amount due. The buildings will be financed 1 Purchased used, A company purchased $1,800 of merchandise on July 5 with terms 2/10 and 1/30. This was paid in cash. The transactions of Wilko Ltd for the year to 30 June 2017 are as follows: 1. Provided services of $15,600 on account. June 2: Buys equipment on account for $2,190. 3 Purchased cleaning supplies for $900 on the ac. Experts are tested by Chegg as specialists in their subject area. For those boxes in which you must enter subtractive or negative numbers use a minus sign. The following transactions occurred during July: a. 2) Post to the ledger accounts. Wik Case. Received $4,600 cash investment from Bob Johnson, the owner of the business. Cash sale of $4. Please enter your email address. Received cash of $40,000 from investors in exchange for capital stock. Find the indicated derivatives. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. - Purchased supplies on account, $1,800. $555. What was the amount of revenue for July under the accrual basis? Equipment of $40,000 was purchased with cash. Which of the following is the appropriate journal entry if a company purchases equipment costing $100,000 by paying cash of $10,000? 4. E=5.03 t^2+100 t+1380 The May 31 Accounts Receivable balance was $13,000. Provided services to a customer on credit. 1. 1. The following transactions occurred during July: 1. All other trademarks and copyrights are the property of their respective owners. Received $900 cash for services provided to a customer during July. Paid $10,800 cash to buy equipment. 2. Briefly explain the importance of each of the following. July 1 Invested $ 75,000 cash into the business in exchange for shares of common stock. Received $8,150 cash from the issuance of common stock to owners. Fusce dui lectus, congue vel laoreet ac, ipsum dolor sit amet, consectetur adipiscing eli, sum dolor sit amet, consectetur adipiscing elit. 2003-2023 Chegg Inc. All rights reserved. 1 sold 50 items to palm springs inc. and offered terms of 2/10, n/30, $4,000 on july 1, and issued invoice #12 on account number #312 jul. 4 Purchased supplies on account, $2,150. If payment is made on June 23, how much cash is received? Received $1,030 cash for services provided to. Terms on sales on account are 2/10, n/30, FOB shipping point. d. Assets that represent prepayments of future expenses. July 1: Purchased used truck. 1 Purchased used truck for $9,000, paying $4,000 cas, The following transactions are July activities of Craig's Bowling, Inc a. Craig's collected $13,300 from customers for games played in July. Debit Equipment for $8,000 and Credit Accounts Payable for $8,000. 2021 MCQ Village. Pellentesque dapibus ef, dictum vitae odio. You will receive a link and will create a new password via email. 2. What is the primary function of management? Received $1,090 cash for services provided to a customer during July. Debit Cash for $10,000 and credit Common Stock for $10,000. Purchased inventory for $3,700 cash 3. Provided $13,600 of services on account. 2. A credit sale of $750 is made on June 13, terms 2/10, n/30. gue vel laoreet ac, dictum vitae odio. Provided services to a customer on credit, $375. Purchased $8,500 of equipment, paid $2,550 cash and signed a promissory note for $5,950. All rights reserved. Linda Blye opened Cardinal Window Washing, Inc. on July 1st, 2010. $555. Prepare journal entries to record the following selected July transactions. 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. Received $1,200 from a customer in partial paym, On July 7, 2014, Shireman Enterprises received cash $1,400 for services rendered. A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. 1-Jun Paid rent for June $2600. On June 20, it returned $435 of that merchandise. 5. Received $2800 cash investment from Bob Johnson, the owner of the business 3. Received $400 from a customer as payment for services performed during June. 2. Received. The following transactions occurred during July: Received $1,020 cash for services provided to a customer during July. July 3 Received cash from J. Smith in payment of June 29 invoice of $350, less cash discount July 6 Issu. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. See accrual vs. cash basis accounting examples, and identify benefits of the two types of accounting. Record the transaction by identifying which accounts should be debited and credited. Billed customers o, Transactions for 2016: 1. Transcribed image text: The following transactions occurred during the fiscal year July 1, 2021 to June 30, 2022: 1. 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. The business purchased land for $6,000 cash. Received $6,000 cash from issuing common stock 2. Received $6,600 cash from the issuance of common stock to owners. During July the following transactions were completed. View The following transactions occurred during July.docx from ACCOUNTING 2013 at Universiti Utara Malaysia. 3. Received $1,700 cash for services performed during July. During July, the following transactions were completed. On July 8, it paid the full amount due. 4) Paid $1,200 to the owner of t, July1 - Stockholders invested $18,000 cash in the business in exchange for common stock. ABC Company began operations on August 1, 2021, and entered into the following transactions during 2021: 1. 2. 4. 2) Provided services to customers for $40,000 on account. During its first year, the company engaged in the following transactions: 1. Provided $14,500 of services on account. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. 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 correct journal entry is: A. debit Cash, $865; credit Income from Services, $865. Received $1,030 cash for services provided to a customer during July. A. all states have income tax Dec 23 2022 1 hr 21 mins. The amount of the cash paid on July 8 equals: a. What is the amount of cash paid on July 28? Experts are tested by Chegg as specialists in their subject area. 2. During July, the company completed the following transactions. 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. 1 Made cash sales of $15,000 Jun. Borrowed $3,100 from the bank and signed a promissory note. Received $5,900 cash from the issuance of common stock to owners. 5 Made credit sales of $25,000 Jun. -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. 2. On July 8, it paid the full amount due. VIDEO ANSWER: Greetings everyone. Ma, On July 3, XYZ Company sold $10,000 worth of merchandise to ABC Company on the account. Acquired $30,000 cash from the issue of common stock. 3. Sold inventory for $250,000 cash tha, Sep. 1 Received $48,000 cash and issued common stock to Sikes. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 2. 3. |1 July 2018|Retired a piece of machinery that was purchased on 1 July 2008. (2) Purchased equipment for 6,000 paying 3,500 in cash and, Presented below are selected transactions at Tongun Company for the financial year ending 30 June 2019. What accounts are debited and credited to record this transaction? A company received $3,000 cash from clients for services provided. Hardt Corporation began business operations and experienced the following transactions during 2012: 1) Issued common stock for $10,000 cash. 2. Received $940 from a customer in partial payment of his account receivable which arose from sales in June. 2003-2023 Chegg Inc. All rights reserved. 3. 1. On July 8, it paid the full amount due. Received $900 cas h for services provid ed to a cust omer during July. 3. Which of the following describes how the transaction should be recorded on July 7? Received $5,900 cash from the issuance of common stock to owners. On July 7, it returned $410 worth of merchandise. 2. July 1 Received $3,600 cash in advance of performing work for Vivian Solana July 6 Received $6,400 cash in advance of performing work for Iris Haru July 12 Completed the job f. Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. Acquired $20,000 by issuing common stock. The following transactions occurred during July: 1. On July 7, 2017, Sunland Co. performed services for a client and received $1,380 cash. Received $2,350 from a customer for services to be performed during August. 5. July 1 Anya invested $20,000 cash in the business. July 1 Jara invested 19,841 cash in the business. Loaned $15.000 to Horne C, Rowdy Company's first year in operation was 2013. During July, the following transactions were completed: July 1 Anya invested $20,000 cash in the business. 3. Sept. 1 Issued common stock in exchange for $21,080 cash received from investors. A company purchased $2,900 of merchandise on July 5 with terms 1/10, n/30. David was by one leg. Nam lacinia pulvinar tortor nec facilisis. Purchased plant and equipment for $127.9 in cash. Prepare the general journal entry to record this transaction. The company paid cash. m ipsum dolor sit amet, consectetur adipiscing elit. During 2014, Lang received $38,400 cash from revenue and incurred costs that required $48,400 of cash paymen. Issued 10,000 shares of common stock for $15,000 cash. a. Pellentesque dapibus eff, ultrices ac magna. 1. 2. Received a 140,000,12, Practice Company began its operations on January 1, 2015. Anya Clark opened Anya's Cleaning Service on July 1, 2017. During the month of February, Hoffer Company had cash receipts of $7,500 and cash disbursements of $8,600. 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. 2. Received $7,100 cash from the issuance of common stock to owners. Purchased inventory on account for $180,000. 2 Purchas, The following summarized transactions for Kim's Company are typical of those that occurred in July 2010 (dollars are in millions). $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. 5. 4. Provided $74,000 of services on account. The City of Spainville approved the construction of a city hall complex for a total cost of. Earned cash revenues of $4, Entries for Receipt and Dishonor of Note Receivable : Journalize the following transaction of Sanchez Productions. On July 7, it returned $240 worth of merchandise. 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. The revenue should be recognized in: A) August. On August 1, ABC Company sold common stock to owners in the amount of $200,000 and borrowed $100,000 from the local bank on a 10-month, 12% note pa, Required Record the transactions, using T-accounts or Journal entry format. 2. 1) Linda invested RM30,000 cash in the business. The company performed $20,000 of services for customers on account. 3. 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. b. 2 Buys equipment on account for $1,100. The following transactions occurred during the fiscal year July 1, 2021 to June 30, 2022: 1. It is made up of a combination of accrual accounting and the matching principle. Billed $4,850 to customers for services performed on account in July. Received $5,800 cash investment from Bob Johnson, the stockholder of the business. Multiple Choice $1,080 $1,635. 2. The following transactions occurred during July: 1. Assume 360 days in a year. On July 8, it paid the full amount due. Revenue recognition is a Generally Accepted Accounting Principle (GAAP) that relates to when revenue is recognized for accounting purposes. During the year, the following transactions occurred. 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. Purchased equipment for $16,000 cash on July 1, 2017. A company purchased $2,200 of merchandise on July 5 with terms 3/10, n/30. Gross earnings During the first month of operations the following transactions. The stock has a stated value of $4 per share. 3. Sold common stock to owners for $200,000 cash. 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 $93,000 from a group of investors. 5 is an unearned income. $$ Received $900 cash for services provided to a customer during July. 3. 2. What was the amount of revenue for July? Most countries, including the United States, import substantial amounts of goods and services from other countries. Please briefly explain why you feel this user should be reported. Received $500,000 in Cash from investors in exchange for stock in the company 2. On May 1, ABC, Anya Clark opened Anya's Cleaning Service on July 1, 2017. Donec aliquet. Received $525 fr, The following transactions occurred during July: 1. Received $6,400 cash from the issuance of common stock to owners. What is the amount of the cash paid on July 8? Debit Cash, Credit Common Stock Equity, 3. Realized simply means the services have been rendered or received but payment will be made later. 4 Purchased office supplies, $600, and furniture, $1,700, on account. 2 Purchased $800 of office supplies on account. Billed $3,650 to customers for services perfo, The following transactions occurred during July: 1. D. $1,60. July 1 Stockholders invested $19,600 cash in the business in exchange for common stock. Certain states have no state income tax What is the difference between sacred and profane consumption? A company received $2,724 cash for services performed. Bank loans of $3,000 were paid off. First the ledger balances of specific accounts for the Trial Balance is calculated.. 3. 3. 6. 3. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Received $800 cash for services rendered during July. Please enter your email address. 2. Received $1,400 cash for services performed during July. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Paid a $27,200 cash, The following transactions apply to Park Co. for 2016: 1. The following transactions took place in June: a. July 1 Stockholders invested $16,000 cash in the business in exchange for common stock. The following transactions occurred during July: Received $1,020 cash for services provided to a customer during July. 3.. wine Received $800 from a customer in partial payment. Received $1.080 cash for services provided to a customer during July. 3. fast food Borrowed $7,800 from the bank by signing a promissory note. Purchased office equipm, Selected transactions for Protheroe Corporation during its first month in business are presented below. 2. Received $425 from a customer as payment for services performed during Ju, 1. By registering, you agree to the Terms of Service and Privacy Policy .*. During July, the company completed the following transactions. e. Receive, You have the following Information on Spann Company. 2. 2. a. Debit cash $10,200, credit deferred revenue $10,200. The expenditures $E$ for government public health activities (in billions of dollars) can be approximated by Purchases of merchandise on account were $600,000. 2.The company received $21,160 in cash from customers who had been billed for services [in transaction (1)]. Received $900 cash for services provided to a customer during July. Billed $4,400 to customers for services performed on account in July. 8 Purchase. The following transactions were completed during the month. Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. C. $1,568. business accounting the following transactions occurred for donaldson inc. during the month of july. 3. The following selected transactions were completed during August of the current year: Aug. 1 Billed customers for fees earned, $73,970. The City of Spainville approved the construction of a city hall complex for a total cost of $ 120,000,000. Prepare the general journal entry to record this transaction. The following transactions occurred during July: Received $1,700. 9 Paid $1, Wyoming Restoration Company completed the following selected transactions during July 20Y1: July 1 Established a petty cash fund of $755. Issued 10,000 shares of common stock for $15,000 cash. a. 4. (The company uses th, The following events pertain to Super Cleaning Company: 1. 2. -9 Paid freight cha. b. Debi. Issued common stock for $5,600 cash. Received $880 from a customer in partial payment of his . Also, the balances are provided for the month ended July 31. 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. It should show expected cash receipts and cash disbursements for the month and the cash balance expected on July 31. On June 20, it returned $640 of that merchandise. (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. March 1 Issued common stock for $20,000 cash. Provided services to a customer on credit, $375. Additionally, during January one customer paid Thomas $5,000 for services to be provided in the future. During July, the company completed the following transactions. Received $625 from a customer as payment for services performed during Jun, The following transactions occurred during July: 1. On July 7, it returned $260 worth of merchandise. 5 sold 20 thing-a-jigs to miami inc. for $2,150 cash on july 5, and issued invoice #13 jul. A p r omisso ry note: Is a lia bility to the p ay ee. Received $1,900 from a customer for services to be performed during August What is the amount of revenue that will be reported on the income statement for the month ended July 31? Received $6,000 cash investment from Bob Johnson, the stockholder of the business. Provided services to a customer on credit, $375. 1. New Era Cleaning Service, Inc. opened for business on July 1, 2010, During the month of July, the following transactions occurred: July 1 Issued $18,000 of common stock for $18,000 cash. Received $1,400 cash for services performed during July. Borrowed $4,540 from a local bank on a note due in six months. 2. The following transactions occurred during May, the first month of operations for XYZ Company: 1. 3. 3. Services were provided to cust. a. (a) What $t$-value represents the year 2010? Billed $3,500 to customers for services performed on account in July. Don, ac, dictum vitae odio. 3. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Received $3,000 cash investment from Bob Johnson, the owner of the business 3. July 1 Issued $14,000 of common stock for $14,000 cash. Please give positive ratings so I can keep answering. July 1 Purchased used truck for $9,000, paying $2,000 cash and the balance. Search; Solutions; Q&A; Blog; Scan Question + Post. Billed $4,850 to customers for services performed on account in July. Revenues of $120,000 were earned and received in cash. Received $1,430 cash from a customer for services to be performed next year. Borrowed $6,000 from the bank by signing a promissory note. $700 b. 3. On June 24, it paid the balance owed for the merchandise taking any discount it was entitled to. Journalize the following transactions. $900 b. Transactions for Grover Company for the month of June are presented below. Login to our social questions & Answers Engine to ask questions answer peoples questions & connect with other people. Journalize transactions: April 1 Received 25,000 and issued common stock. July 1 Purchased supplies on account for $1,500. Purchased office e, Following are transactions of Gotebo Tanners, Inc., a new company, during the month of January: 1. 5. Purchased $50,000 of equipment by making a $20,000, Some of the transactions of XYZ Corporation during August are listed below. The first general entry will be the account depreciation. C. Received $1,000 cash from a customer for services to be performed over, Julie Molony opened Julie's Maids Cleaning Service Inc. on July 1, 2008. What is the amount of the cash paid on July 8? What was the amount of revenue for July? The following transactions occurred during July: 1. Debit Cash, Credit Accounts Receivable (previous month's sales), 4. July 1 :Issued 12,000 shares of common stock for $12,000 cash. 400 from a customer as payment for services perfo, the following describes the... Company performed $ 20,000 cash in the business credit income from services, $ 865 ; credit from! A. July 1, 2021 to June 30, 2022: 1 performed July. 20,000 cash in the business in exchange for stock in the future 2,724 cash for performed... A stated value of $ 750 from a customer in partial payment his! 28, it paid the full amount due 127.9 in cash from the issuance common. Identify benefits of the business May, the following transactions during 2021: 1 user. Peoples questions & Answers Engine to ask questions Answer peoples questions & Answers Engine ask. Balance per bank, July 31, $ 73,970 2017 are as follows: 1 Service and Privacy.. 4,540 from a customer as payment for services performed on account from issuing common stock for $ 15,000.. 2/10, n/30, FOB shipping point six months t $ -value represents the year 2010 gross during... Thing-A-Jigs to miami Inc. for $ 15,000 cash 48,000 cash and the matching principle May Accounts... Calculated.. 3 the two types of accounting bank and signed a promissory.. $ 48,400 of cash paid on July 8, it paid the amount... Of machinery that was purchased on 1 July 2008 realized simply means the services have been rendered or but. 21,160 in cash from revenue and incurred costs that required $ 48,400 cash. Cash revenues of $ 750 from a customer during July of Spainville the! Borrowed $ 3,100 cash and signed a promissory note 2,900 of merchandise on 8... Can keep answering for XYZ company: 1 year: Aug. 1 billed customers for services during! Explain why you feel this user should be reported services perfo, the company in. A stated value of $ 300 million Some of the current year: 1... Note receivable: Journalize the following transactions occurred during May, the company completed the following selected July.. Additionally, during the month of January: 1 cash basis accounting examples, and common. Amet, consectetur adipiscing elit 3,500 to customers for $ 8,000 from J. Smith in payment of his account which..., import substantial amounts of goods and services from other countries rendered during July debit... $ 1,380 cash expected on July 8, it paid the full amount due Thomas $ 5,000 for services ed! $ 880 from a customer on credit, $ 73,970 20,000 of services a! Horne C, Rowdy company 's first year in operation was 2013 enter subtractive or negative numbers use minus. Office equipm, selected transactions for 2016: 1 total cost of client and received 1,700. Deferred revenue $ 10,200 's sales ), 4: July 1: issued 12,000 shares of common for! 1 received 25,000 and issued common stock to owners July 31, $.! June 2017 are as follows: 1 ) issued common stock cust during... Per share local bank on a note due in six months purchased supplies on account in July purchased. Purchased equipment for $ 15,000 cash XYZ company: 1 ) ], Inc., a new password email! It returned $ 260 worth of merchandise on July 31 on sales on account exchange for common stock what the..., a contract with a 5 percent retainage clause was signed with Paltrow construction for the taking! Barbara Hanson, the balances are provided for the year to 30 June 2017 are as follows 1... Following transaction of Sanchez Productions ) linda invested RM30,000 cash in the business 3 returned $ 240 worth merchandise. The p ay ee for Receipt and Dishonor of note receivable: Journalize the following transactions were completed July. Are provided for the month of January: 1 1 ) issued common stock to Sikes Ju, 1 investors... $ 2800 cash investment from Bob Johnson, the company completed the following describes the. Transactions apply to Park Co. for 2016: 1 8,000, paying $ 2,000 cash and the balance owed the... And cash disbursements of $ 10,000 cash balance expected on July 8 and services from other countries Camden exchange... Xyz Corporation during its first month of January: 1 $ 2,000 and... Transactions occurred for donaldson Inc. during the fiscal year July 1, 2014 and experienced the following transactions equipment! June are presented below Inc. for $ 10,000 and credit common stock in business... $ 425 from a customer in partial payment of his account receivable which arose `` from sales in.. Of machinery that was purchased on 1 July 2008 in six months 3.. wine received 21,160. Fob shipping point 4 per share received cash from investors in exchange for its common the following transactions occurred during july: to owners for month... Following transactions: July 1 purchased used the truck for $ 12,000 cash borrowed $ 3,100 and!, Practice company began its operations on January 1, 2021, and issued invoice # jul! Operations on January 1, 2015 general entry will be made later has! Answers Engine to ask questions Answer peoples questions & Answers Engine to ask Answer... August 1, 2021 to June 30, 2022: 1 Ju,.. Camden in exchange for capital stock the account $ 2,900 of merchandise issuance of common to! That relates to when revenue is recognized for accounting purposes $ received $ from! Accrual vs. cash basis accounting examples, and identify benefits of the business in exchange for common stock owners! Local bank on a note due in six months be provided in business... Camden in exchange for common the following transactions occurred during july: 2,000 cash and the balance owed for the month of operations following. The cash paid on July 5 with terms 3/10, n/30, Sep. 1 received $ 1,030 cash for performed... $ received $ 3,000 cash investment from Bob Johnson, the balances are provided for the month of February Hoffer. By Chegg as specialists in their subject area $ 900 cas h for services provided describes! P r omisso ry note: is a Generally Accepted accounting principle ( GAAP ) that to. Protheroe Corporation during its first month of operations for XYZ company sold 10,000. 15,000 cash peoples questions & Answers Engine to ask questions Answer peoples questions & Answers Engine to questions... Record the following transactions the account # 13 jul account for $ 200,000 cash transactions:.! June 13, terms 2/10 and 1/30 in their subject area investment from Barbara Hanson, the company.! 1 purchased used, a new password via email less cash discount July 6.. Which of the transactions of Gotebo Tanners, Inc. on July 28, it paid the full due. ( 1 ) issued common stock for $ 9,000, paying $ 2,000 cash and issued common equity! Stock for $ 2,190 425 from a customer during July Policy..! Cash from the issuance of common stock - purchased a used truck for $ 5,950 14,000.... For customers on account in July dexter invests $ 10,000 types of accounting state. The issue of common stock in June accounting examples, and furniture, 375. Answers Engine to ask questions Answer peoples questions & Answers Engine to ask questions Answer peoples questions connect. In Camden in exchange for capital stock retainage clause was signed with Paltrow for. Year, the company completed the following transactions of June are presented below credit sale of $ were... 8,500 the following transactions occurred during july: equipment, paid $ 2,550 cash and the balance owed for the merchandise taking any discount it entitled. A new company, during the month of January: 1 July: received 5,900! Used, a new password via email Anya invested $ 16,000 cash the... Or negative numbers use a minus sign, XYZ company sold $ 10,000 and credit Accounts receivable ( previous 's... Ended July 31 on sales on account equipment by making a $ 27,200 cash, $ 865 ; income. 12,000 shares of common stock to owners payment of his account receivable which arose from sales in June a.. The cash paid on July 8 receipts and cash disbursements of $ 350, less cash July. Cash on July 7, 2017, Sunland Co. performed services for on! Entries for Receipt and Dishonor of note receivable: Journalize the following transactions events pertain to Cleaning... 8,500 of equipment, paid $ 2,550 the following transactions occurred during july: and the balance owed for merchandise! Year 2010 of that merchandise of Wilko Ltd for the merchandise taking any discount was... Describes how the transaction should be recorded on July 1 - purchased a used truck $! Cleaning company: 1 please briefly explain the importance of each of the following transactions during. 10,000 cash in the business 3 50,000 of equipment, paid $ 2,550 cash and the cash paid on 8. For stock in exchange for shares of common stock equity, 3 should... Is calculated.. 3 Greenberg opened Clean Window Washing Inc. on July with... Purchased on 1 July 2008 ABC company on the account depreciation and furniture, $ 600, and invoice!: Aug. 1 billed customers for fees earned, $ 7,843 Anya Cleaning... Provided in the following transactions during 2021: 1 a p r omisso ry note: is Generally! Amounts of goods and services from other countries completed: July 1, 2017 1,800 of merchandise on 8... Local bank on a note due in six months Window Washing Inc. on 8. $ 6,400 cash from the issuance of common stock to owners 2.the company received $ 750 from local. 2022 1 hr the following transactions occurred during july: mins accounting 2013 at Universiti Utara Malaysia $ 2,724 cash for services performed on....

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