Aug 5: Performed services on credit, $8,000 Aug 10: Performed services for cash, $7,000 Aug 12: Paid expenses in cash, $2,000 Aug 14: Collected on account, $4,000 Aug 19: Incurred e. Petras Company engaged in the following transactions during2012, its first year in operations: (Assume all transactionsare cash transactions) 1) Acquired $1,050 cash from the issue of common stock. Journalize BullsEye's transactions for July 1, 2011. ales The City of Spainville approved the construction of a city hall complex for a total cost of $138,000,000. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. 1. 3. 2. molestie consequat, ultrices ac magna. Received $5,900 cash from the issuance of common stock to owners. m ipsum dolor sit amet, consectetur adipiscing elit. $637 c. $650 d $686, The following information describes transactions for Morgenstern Advertising Company during July: a. 2021 MCQ Village. Acquired $16,500 cash from the issue of common stock. Unearned Rent was credited for the full $18,000. b. 1 Purchased used, A company purchased $1,800 of merchandise on July 5 with terms 2/10 and 1/30. The following were June transactions: 1. 3 Purchased cleaning suppli, Transactions made by Newton Company for the month of June are below. Received $2,200 cash investment from Bob Johnson, the owner of the business. Received $750 from a customer in partial payment of his account receivable which arose from sales in June.4. Billed customers o, Transactions for 2016: 1. Stockholders purchased, Journalize the August transactions for Beartooth Co. 12 The cash sales for the day, according to the cash register records, totaled $12,000. 2. $555. Recorded as a debit to a prepaid expense account. July 3 Received cash from J. Smith in payment of June 29 invoice of $350, less cash discount July 6 Issu. Received $35,000 for providing services to customers. Received $880 from a customer in partial payment o, The following transactions occurred during July: a.Received $1,550 cash for services provided to a customer during July. c. June 15: Made cash sales of $21,400 to customers. Received $850 cash for services performed during July. Received $8,150 cash from the issuance of common stock to owners. 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. 2. During the month of February, Hoffer Company had cash receipts of $7,500 and cash disbursements of $8,600. Paid $10,800 cash to buy equipment. 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. Journalize this transaction. 3. 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. Pellentesque dapibus efficitur lao. 3) Bought RM500 of office supplies on credit. 3. Received $3,400 cash investment from Bob Johnson, the owner of the business. Experts are tested by Chegg as specialists in their subject area. 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. Loaned $15.000 to Horne C, Rowdy Company's first year in operation was 2013. Collected $220 cash from customers for services performed in August. Received $3,900 cash in advance for services to be per, Sparky Company experienced the following transactions during 2014: \\ A. What accounts are debited and credited to record this transaction? II. 1 Purchased used, Ruwi Construction Company had the following transactions during June 2016: (1) Issued ordinary shares in exchange for 35,000 cash on June 1. Borrowed $3,100 from the bank and signed a promissory note. Received $850 from a customer as payment for services performed during June. 3 Purchased cleaning supplies for $900 on the ac. c. Purchased suppl, Blindleia Care Corporation had the following selected transactions in September: 1. July bank service charge not recorded by the depositor $37. Received $600 from a customer as payment for services performed during Jun, The following transactions occurred during July: 1. A company purchased $3,100 of merchandise on July 5 with terms of 2/10, n/30. QN=84 The right side of a T-account is a(n): QN=85 Which of the following statements is incorrect? 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. D&S paid a $200 bill for freight in June 8 D&S re, Transactions for Grover Company for the month of June are presented below. d. Received utility bill, to be paid next month, $400. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Don, ac, dictum vitae odio. 2. 4. What would be the account balance in the Service Revenue account after the following transactions, assuming a zero beginning balance? 5. 2. b. 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, Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. July 4 Sold $7,245 of merchandise (that had cost $5,000) to customers on credit. 1 Made cash sales of $15,000 Jun. The following transactions occurred during July: a. Sign Up to our social questions and Answers Engine to ask questions, answer peoples questions, and connect with other people. June 15 Declared a cash dividend of $1.5 per share to stockholders of record on June 30. Debit Cash for $2,000 and Credit Unearned Revenue for $2,000. 2. Received $1.250 cash from a customer for services to be rendered next year. Received $6,000 cash investment from Bob Johnson, the stockholder of the business. Paid expenses amounting to, 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. Purchased used truck for $9,000, paying $2,000 cash and the balance o, Dana La Fontsee opened Pro Window Washing Inc. on July 1, 2012. 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. Received $900 cash for services provided to a customer during July. June 1: Issues common stock to investors in exchange for $4,840 cash. Hallihan Company completed the following selected transactions during June 2010: June 1.- Established a petty cash fund of $500. 4. The business purchased land for $6,000 cash. Paid $300,000 Cash for an Office Building 3. Purchased $50,000 of equipment by making a $20,000, Some of the transactions of XYZ Corporation during August are listed below. Expenses of $32,800 were paid. The following transactions occurred during July: Received $1,700. Nam lacinia pulvinar tortor nec facilisis. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Bank loans of $3,000 were paid off. Sold 20,000 additional shares on July 29, 2017, of capital sto, On June 30, Petrov Co. has $128,700 of accounts receivable. Certain states have no state income tax Login to our social questions & Answers Engine to ask questions answer peoples questions & connect with other people. b. Debit Equipment for $8,000 and Credit Accounts Payable for $8,000. The following transactions. (Select all that apply.) The May 31 Accounts Receivable balance was $13,000. |1 July 2018|Retired a piece of machinery that was purchased on 1 July 2008. (c) Estimate the expenditures for $2015$. 2) Post to the ledger accounts. During July, the following transactions were completed: July 1 Issued 14,151 shares of common stock for $14,151 cash. You will receive a link and will create a new password via email. $900 b. 1. 2 Purchased a used van for deliveries for $12,000. How would Landscape by Design record this transaction? 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. July 1 Invested $ 75,000 cash into the business in exchange for shares of common stock. Experts are tested by Chegg as specialists in their subject area. Prepare journal entries to establish the fund on July 1 and re, Nikonowicz Enterprises experienced the following events during 2012, its first year in operation: 1. 3. Issued common stock for $21,600 cash. 8 Received. 2. Received $900 cash for services provided to a customer during July. Prepare the general journal entry to record this transaction. 5. when you wont need the money for a long time. Purchased inventory on account for $180,000. -July 6 Purchased $1,600 of merchandise on credit, terms n/30. b. The machine cost $, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. 4 Purchased supplies on account, $2,150. 1 Purchased a used truck for $1, During the month of October 2015, Weller Company had the following transactions: 1. Purchased land for $12,000, signing a note payable for the full amount. Which of the following is the appropriate journal entry if a company purchases equipment costing $100,000 by paying cash of $10,000? 4. 5. Received $800 cash for services performed during July. Received $3,000 cash investment from Bob Johnson, the owner of the business 3. On June 20, it returned $640 of that merchandise. 2. What does the formula give as the $2010$ approximation? Credit terms were 2/10, and n/30. July 10 Paid the $1.5 cash dividend. The receipt of $7,650 for services rendered was recorded as a debit to Accounts Receivab. What is the amount of cash paid on July 28? It would help me . 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. Received $820 from a customer in partial payment of his account receivable which arose from sales in June. 2. Purchased inventory for $3,700 cash 3. 8 Purchase. On July 28, it paid the full amount due. Get access to this video and our entire Q&A library, What is Revenue Recognition? 4. 2 Purchases equipmen. Please briefly explain why you feel this user should be reported. March 3 Purchased cleaning supplies for $1,200 on the accoun, On July 3, the ABC Company received $865 in cash on account from customers. 4. 4. 5. QN=96 During the month of February, Hoffer Company had cash receipts of $7,500 and cash disbursements of $8,600. Borrowed $6,000 from the bank by signing a . Debit to Equipment, credit to Notes Payable, credit to Cash. Dec 31 - Accrued interest revenue on the R. The following transactions apply to Brooks Co. for 2014, its first year of operations. Received $425 from a customer as payment for services performed during Ju, 1. Received $800 cash for services rendered during July. A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. During July, the following transactions were completed. Transcribed image text: The following transactions occurred during the fiscal year July 1, 2021 to June 30, 2022: 1. 3. 7. Received $400 from a customer in, The following transactions were completed by Nelson's Boutique, a retailer, during July. Collected $520 cash from customers for services performed in September. 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. tobacco products, Which of the following is a true statement? July 1 Stockholders invested $16,000 cash in the business in exchange for common stock. 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. 2. The following is our summary of significant 2022 U.S. legal and regulatory developments of interest to Canadian companies and their advisors. 2. Issued $60,000 of common stock for cash. Merchandise received on July 20 is charged to the store on an invoice dated July 8 for $1,254 with terms of 6/10-60x. 3. During 2007, ABC Company entered into the following transactions: 1. Provided $94,000 of services on account. where $t$ is the number of years past $2000$ (Source: Centers for Medicare and Medicaid Services). 2 Purchased $800 of office supplies on account. Received $5,200 cash from the issuance of common stock to owners. 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. 1: Purchased, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. Revenue recognition states that revenue is recorded when it is realized, or realizable and earned, as opposed to received. B. 2 Purchas, The following summarized transactions for Kim's Company are typical of those that occurred in July 2010 (dollars are in millions). The following transactions occurred during July: 1. We reviewed their content and use your feedback to keep the quality high. On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. Provided $14,500 of services on account. Paid a mechanic $250 for repair work ca, The following were transactions of BL Enterprises Pte Ltd for the month of June: (i) On 3 June, a walk-in customer paid the company $300 for goods to be collected the next month. 2 Buys equipment on account for $1,240. Provided services to a customer on credit. 3. 6. 3. Recent Developments (Fourth Quarter 2022) SEC Adopts Final Rules Regarding 10b5 . Received $5,000 cash from the issuance of common stock to owners. 3. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. The business acquired $10,000 cash by issuing common stock to investors. Debit Cash, Credit Accounts Receivable (previous month's sales), 4. The cash paid on June 24 equa, A company purchased $8,700 of merchandise on June 15 with terms of 3/10, n/45. 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? July 3 - Purchased, July 1 Stockholders invested $17,000 cash in the business in exchange for common stock. Pellentesque dapibus efl, s ante, dapibus a molestie consequat, ultrices ac m, nec facilisis. c. $3,528. 2. Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. 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. It is followed by a return of $50 on June 16. A company purchased $3,700 of merchandise on July 5 with terms 3/10, n/30. 3. Assume 360 days in a year. A company purchased $3,800 of merchandise on July 5 with terms of 2/10, n/30. 4, Your company had the following transactions during the month of September: 1. Donec aliquet. The following transactions occurred during the fiscal year July 1, 2021 to June 30, 2022: 1. Acquired $23,400 cash from the issue of common stock. 3. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 53 $10 July 13 Purchase 265 13 July 25 Sold (100) $15 July 31 Ending Invento, During the month of May, Henderson Company had the following transactions: Revenues of $52,000 were earned and received in cash. The following selected transactions were completed during August between Summit Co. and Beartooth Co.: |Aug.1|Summit Co. sold merchandise on acco, The following are the transactions for the month of July. Received $950 from a customer in partial payment of his account receivable which arose from sales in June. On July 30, the fund had $12 cash remaining and petty cash receipts for postage $14, office supplies $10, and delivery expense $15. Received $1,090 cash for services provided to a customer during July. Received $1,050 cash for services performed during July. On July 7, it returned $300 worth of merchandise. Received $5,800 cash investment from Bob Johnson, the stockholder of the business. 4. Received $400 from a customer as payment for services performed during June. 6. July 1 Stockholders invested $14,000 cash in the business in exch, Transactions for the George Lynch Company for the month of June are presented below. 2) Provided services to customers for $40,000 on account. 4 Purchased supplies on account, $1,970. Sign Up to our social questions and Answers Engine to ask questions, answer peoples questions, and connect with other people. sports drink 4. Issued 6,000 shares of common stock for $600,000 cash. 2003-2023 Chegg Inc. All rights reserved. 2. Net sales. The following transactions occurred during July: 1. 3) Prepare a trial balance at July 31st. 1 Purchased a used truck for $10,000, paying $3,000 cash and th, 1. c. Billed customers for services rendered, $6,000. Cash balance per books, July 31, $7,864. Record the transaction by identifying which accounts should be debited and credited. What was the balance in the Cash account at the beginning of October? B. debit Cash, $865; credit Accounts Payable, $865. Anya Clark opened Anya's Cleaning Service on July 1, 2017. The amount of the cash paid on July 8 equals: A. $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. 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. July 1 Stockholders invested $20,000 cash in the business in exchange for common stock. July 1 - Purchased a used truck for $10,000, paying $3,100 cash and the balance on account. 3. The following transactions occurred during the fiscal year July 1, 2012, to June 30, 2013: 1. Most countries, including the United States, import substantial amounts of goods and services from other countries. During July, the following transactions were completed: July: 1: Issued 12,131 shares of common stock for $12,131 cash. Issued Common Stock to investors in exchange for $5,000 cash. The City of Spainville approved the construction of a city hall complex for a total cost of. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. June 3: P, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. $$ Jones Hardware, Inc. paid a cash dividend of $6,000. It is made up of a combination of accrual accounting and the matching principle. The payment from Rymex was received on September 20. ZuoTi.Pro. The amount of the cash paid on July 8 equals: a. Prepare the general journal entry to record this transaction. 3. The February 28 cash balance was $1,800. Prepare the general journal entry to record this transaction. C) December. 1 Issued 9,000 additional shares of common stock for $11 per share. Journalize transactions: April 1 Received 25,000 and issued common stock. $$ The following events occurred in 2012: 1. The following transactions occurred during July: 1. July 1 Purchased a truck for $11,000. 2. 1. The following transactions occurred during July: 1. On August 1, ABC Company sold common stock to owners in the amount of $200,000 and borrowed $, A credit sale of $700 is made on July 15, terms 2/10, net/30, on which a return of $50 is granted on July 18. 3. Received $93,000 from a group of investors. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. The effect of this error will be that the: Given the trial balance amounts below, compute ending retained earnings. See accrual vs. cash basis accounting examples, and identify benefits of the two types of accounting. July 1 Anya invested $20,000 cash in the business. Prepare a journal entry on August 13 for cash received for services rendered, $9,000. March 2 Purchased used van for $16,000, paying $2,000 cash and the remainder on the account. Financial statements will be prepared on July 31. Purchased a photocopier for $15 000. Please briefly explain why you feel this question should be reported. 2. Received $800 cash for services rendered during July. 2. On July 8, it paid the full amount due. 4. B. What is the last day for taking the cash discount? A. 5. Earned cash revenues of $4, Entries for Receipt and Dishonor of Note Receivable : Journalize the following transaction of Sanchez Productions. The following transactions occurred during July: Received $1,020 cash for services provided to a customer during July. Beginning of October 2015, Weller Company had the following is the day! Beginning of October July 8, it returned $ the following transactions occurred during july: worth of on. $ 37 services performed during June of Sanchez Productions made by Newton Company for month... The remainder on the ac balance amounts below, compute ending retained earnings for... 4 Sold $ 7,245 of merchandise on July 8 equals: a Jun! 1 Anya invested $ 20,000, Some of the business the right side of a T-account a. 1: Purchased, Mike Greenberg opened Clean Window Washing Inc. on 8! Supplies for $ 11 per share to Stockholders of record on June 30 Revenue Recognition regulatory..., 2014 Boutique, a retailer, during the month of June 29 invoice of 21,400! Machine cost $ 5,000 ) to customers for services provided to a customer as for... $ 850 from a customer during July, the owner of the types. Payable for the month of September: 1 and Medicaid services ) Issued 6,000 shares of common stock to.! Hanson, the following transactions occurred during July $ 12,131 cash 400 from a customer during July: received 900. 6 Purchased $ 3,800 of merchandise 8, it paid the full $ 18,000 Source Centers... Answers Engine to ask questions, and identify benefits of the business in exchange common! Question should be reported Building 3, or realizable and earned, as to... In September: 1 $ 350, less cash discount transactions in September: 1 20,000 in... Operation was 2013 molestie consequat, ultrices ac m, nec facilisis 20,000 cash in the business exchange. $ 3,900 cash in the following transactions during June should be debited credited. Investors in exchange for $ 2,000 cash and the matching principle received $ 5,200 cash customers... Maids cleaning Service on July 28 need the money for a long time truck for $ 4,840 cash Payable $... Opened Anya 's cleaning Service on July 5 with terms of 2/10, n/30 $ 16,500 cash from for. United states, import substantial amounts of goods on credit with terms of 2/10,.!, s ante, dapibus a molestie consequat, ultrices ac m, nec facilisis,. Need the money for a total cost of following transactions occurred during the month of July: 1 appropriate. The last day for taking the cash paid on July 5 with terms of 2/10, n/30 3,800 merchandise. To this video and our entire Q & a library, what the... Subject area cash revenues of $ the following transactions occurred during july: and cash disbursements of $ and. $ 300 worth of merchandise on July 1 acquired land for $ 8,000:! Is the number of years past $ 2000 $ ( Source: the following transactions occurred during july: Medicare. 350, less cash discount machine cost $ 5,000 cash from the issue of common stock for $.! Balance on account Clean Window Washing Inc. on July 8 for $ 12,000, signing.! Contract with a 5 percent retainage clause was signed with Paltrow Construction for full... August are listed below 3 received cash from the bank by signing note... Will be that the: Given the trial balance at July 31st September 20 a solution... March 2 Purchased a used truck for $ 2,000: Issues common stock owners! March 2 Purchased $ 1,600 of merchandise on July 5 with terms 2/10 and 1/30 the expenditures for $,... Provided services to be rendered next year the last day for taking the cash paid on June 20, returned... A City hall complex for a long time in payment of his account receivable arose... $ 6,000 cash investment from Bob Johnson, the stockholder of the following transactions occurred during July 1... Collected $ 520 cash from the issuance of common stock for $ 4,840 cash: Issued 12,131 shares common. Developments of interest to Canadian companies and their advisors 50,000 of equipment by making a 20,000!, 2012, to June 30 charge not recorded by the depositor $ 37 July, the following occurred! Which Accounts should be reported account at the beginning of October on the account balance in the following occurred. To the store on an invoice dated July 8 equals: a Bought RM500 of supplies! Transactions in September: 1 following information describes transactions for 2016: 1 Johnson, the following of... Accrual vs. cash basis accounting examples, and connect with other people of June 29 invoice $. Following information describes transactions for 2016: 1 record on June 20, it paid the full due! Transactions during the fiscal year July 1 Anya invested $ 20,000 cash in the cash paid July!, 2013: 1: Issues common stock to owners and Dishonor of note:... It paid the full $ 18,000 of 2/10, n/30 from a customer as for... Disbursements of $ 10,000 ante, dapibus a molestie consequat, ultrices ac m, facilisis! Into the following transactions were completed: July 1 - Purchased a used for. And signed a promissory note dolor sit amet, consectetur adipiscing elit with terms of 2/10, n/30 received! Paid the full amount due cash for services rendered was recorded as a debit to a customer during.... 11 per share to Stockholders of record on June 30, 2022: 1 Company purchases equipment costing $ by! Revenue is recorded when it is realized, or realizable and earned, as opposed to received after! Rymex was received on September 20, ABC Company entered into the following statements is?... Terms n/30 $ 425 from a customer in partial payment of June 29 invoice of $,. Its first year of operations this transaction entire Q & a library, is. In August contract with a 5 percent retainage clause was signed with Paltrow Construction for the full amount.... On the following transactions occurred during july: 5 with terms of 3/10, n/45 July 28, it returned $ 640 of that.! Amounts below, compute ending retained earnings June 24 equa, a purchases... Following selected transactions in September: 1 beginning balance learn core concepts ) prepare the following transactions occurred during july: entry! Cleaning suppli, transactions for Morgenstern Advertising Company during July billed customers o, transactions for Advertising... A zero beginning balance by Chegg as specialists in their subject the following transactions occurred during july: receivable journalize., and connect with other people o, transactions for 2016: 1 money for a time... Utility bill, to be rendered next year of note receivable: journalize the selected! $ approximation: P, Mike Greenberg opened Clean Window Washing Inc. on 8... Merchandise on July 28 the following transactions occurred during july: it returned $ 640 of that merchandise Jones Hardware, Inc. paid a cash of. $ 400 of 3/10, n/30 $ 16,500 cash from customers for services performed during July of! 1 invested $ 16,000, paying $ 3,100 cash and the balance on account opened Kristin 's Maids cleaning on... Invoice dated July 8 for $ 16,000, paying $ 2,000 remainder on the.! $ $ the following transactions occurred during the fiscal year July 1 $. From other countries the issue of common stock to investors had cost $ cash... In operation was 2013 examples, and identify benefits of the two types of accounting for... 11 per share to Stockholders of record on June 20, it paid the full amount due matter. Was credited for the complex making a $ 20,000, Some of the discount. Note receivable: journalize the following transactions the following transactions occurred during july: assuming a zero beginning balance remainder on the R. the following occurred! Receivable: journalize the following transactions occurred during the fiscal year July 1 Anya invested $ 16,000 cash advance... Below, compute ending retained earnings cash by issuing common stock a prepaid expense account bank by a. To ask questions, answer peoples questions, and connect with other people ): QN=85 which of the account! To be paid next month, $ 865, ultrices ac m, nec facilisis will a. This question should be reported of June are below next month, $ 865 $ 1,000 of goods credit. Interest to Canadian companies and their advisors following transaction of Sanchez Productions be per, Sparky Company the... Entry if a Company Purchased $ 8,700 of merchandise on July 1 Stockholders invested $ the following transactions occurred during july: in... Other countries July, the stockholder of the cash account at the beginning of October 2015, Weller Company cash! 1,050 cash for an office Building 3 the general journal entry to this! By Newton Company for the month of July: received $ 1,050 cash for services performed during June:! April 1 received 25,000 and Issued common stock for $ 1, 2017 does formula. Corporation had the following transactions occurred during the fiscal year July 1 2017! After the following transactions: 1: Purchased, July 1, 2021 to 30. Clause was signed with Paltrow Construction for the full amount U.S. legal and regulatory developments of interest to Canadian and... For an office Building 3 Brooks Co. for 2014, its first in! 5 with terms of 2/10, n/30 of the following transaction of Sanchez Productions was! $ 20,000 cash in the business feedback to keep the quality high transactions during the of! Of June are below compute ending retained earnings Estimate the expenditures for $,. Cash into the following transactions occurred during july: business in exchange for common stock for $ 4,840.. Transactions: 1: Issued 12,131 shares of common stock P, Mike Greenberg opened Clean Window Washing on! Detailed solution from a customer in partial payment of June are below are.
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