the following transactions occurred during july

During July, the following transactions were completed: July: 1: Issued 12,131 shares of common stock for $12,131 cash. On November 6, Barrow Company performed services for a customer and received $2,000 cash. $1,000,000 in cash now. 250 units: $ 3.0: $ 750: Purchase 6/15. Billed $3,500 to customers for services performed on account A company received $6,000 cash for services rendered. c. Received $750 from a customer in partial payment of his account receivable, which arose from sales in June. What was the amount of revenue for July under the accrual basis? 3. 5 6 8 Crane Company purchased merchandise from DeVito Company for $12,400, terms 2/10, n/30, FOB shipping point. The business purchased land for $6,000 cash. 3. What accounts are debited and credited to record this transaction? Incurred $60,000 of factory labor. Billed customers o, Sparky Company experienced the following transactions during 2014: \\ A. Paid $300,000 Cash for an Office Building 3. Accrued direct labor cost of 90,000 and indirect labor cost of110,000. Borrowed $25,000 cash from creditors. - Purpose, Components & Format. Provided $1,200 of services on account. The following transactions occurred during July: 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. The following transactions occurred during July: Borrowed $6,000 from the bank by signing a promissory note. Calculate the amount of unearned revenue that would appear i. During July the following transactions were completed. Received $1.250 cash from a customer for services to be rendered next year. d. a c, 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, The following transactions occurred during July: -Received $1,020 cash for services provided to a customer during July. On July 7, 2017, Sunland Co. performed services for a client and received $1,380 cash. Received $750 from a customer in partial payment of his account receivable which arose from sales in June.4. Heidi Jara opened Jara's cleaning service on July 1, 2014. 1 Purchased used, A company purchased $1,800 of merchandise on July 5 with terms 2/10 and 1/30. The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from: Collections from customers. On July 7, it returned $320 worth of merchandise. cash for services perfor. 2) Post to the ledger accounts. June 2: Buys equipment on account for $2,190. - Purchased supplies on account, $1,800. Issued common stock for $2,200 cash. July 1 Plume invested $30,000 cash and buildings worth $150,000 in the company. Paid one year's insurance in advance, $2,400. Sold inventory for $250,000 cash tha, Sep. 1 Received $48,000 cash and issued common stock to Sikes. Purchased $62,500 of raw materials on account. 2 Buys equipment on account for $1,100. June 1 Issues common stock to investors in exchange for $5,000 cash. 2. 1 Purchased used truck for $11,683, paying $2,162 cash and the balance o, Journalize the following selected transactions for January : 1. Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. (The company uses th, The following events pertain to Super Cleaning Company: 1. 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. Howard Services, Inc., has $8,400 cash on hand on July 1. Received $1,200 cash for services performed during July. The following transactions occurred during July: 1. XYZ uses the periodic inventory method. 4. 3. During the month of July, the company had the following activities: a. Calculate this company's debt ratio. 3) Bought RM500 of office supplies on credit. The following transactions apply to Park Co. for 2016 Received $32,000 cash from the issue of common stock. 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. How would Camden record this transaction? QN= 97 The following transactions occurred during July: 1. 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. 400 units: $ 3.5: $ 1,400 . 4 Purchased supplies on account, $2,150. Received $4,600 cash investment from Bob Johnson, the owner of the business. What is the amount of the cash paid on July 8? The following transactions were completed during the month. Received $6,400 cash from the issuance of common stock to owners. Received $5,000 cash from the issuance of common stock to owners. Which of the following describes how the transaction should be recorded on July 7? On June 30, Petrov Co. has $128,700 of accounts receivable. 2. 3) Paid October's utility bill of $600. Loaned $15.000 to Horne C, Selected transactions for Evergreen Lawn Care Company are listed below. Borrowed $4,000 cash f. A company performed services for a client and received $10,000 cash. the following transactions occurred during july: the following transactions occurred 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. Received $400 from a customer as payment for services Received $425 from a customer as payment for services performed during Ju, The following transactions occurred during July: 1. A company received $1,250 in cash from a customer for services previously performed. Provided $74,000 of services on account. The buildings will be financed 2 The company rented equipment by paying $2,000 cash for the first month's (July) rent. The following selected transactions occurred during the year: Feb. 11 Issued 55,500 common shares at $20 per share. The following transactions occurred during July: 1. performed during June. Received a 140,000,12. The following transactions occurred during July: 1. Increase in cash $3,500 and increase in retained earnings $3,500 b. What is the main reason that interviews and questionnaires are not completely accurate? 1 Purchased used truck for $11,683, paying $2,162 cash and the balance o, Your company had the following transactions during the month of September: 1. 1 Purchased a used truck for $10,000, paying $3,000 cash and th. On October 31, a company's Cash account had a normal balance of $7,000. A company received $5,000 cash for performing services for a customer. 2. July 1 Stockholders invested $17,000 cash in the business in exchange for common stock. Obtained a bank loan for $6,900 by issuing a note payable. Received $525 fr, The following transactions occurred during July: 1. 2. 2. - Purchased $184,000 of equipmen, Using the following transactions: a. Deposits in transit, July 31, $1,790. the Cash account? Purchase of the goods on July 8, 2011. b. The following information is adapted from Cruz Companys unadjusted and adjusted trial balances. Acquired $16,500 cash from the issue of common stock. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. The journal entry to record the $8,000 cash receipt would include a debit to: -, Practice Company began its operations on January 1, 2015. Raw materials used in production,190,000 (178,000 direct materials and12,000 indirect materials). 8 Purchase, ABC Company began operations on August 1, 2021, and entered into the following transactions during 2021: 1. On July 8, it paid the full amount due. Provided services for $4,600 cash. 2. Billed customers o, Transactions for 2016: 1. d. 4. Journalize the following transactions for the month of June. Received $68,000 cash for providing services to customers. $15,000 cash was paid and a notes payable to the seller was signed for the balance owed. Learn about what goes on an income statement and its format, including how to prepare, what is shown, and examples. June 1 Stockholders invested $12,927 cash in the business in. 3-Jun Purchased Merchandise on account from ABC company for $6500 Terms 2/10, n/30, FOB shipping point. 2. Received $950 from a customer in partial payment of his account receivable which arose from sales in June. Received. Going by the Accrual principle in Accounting, the revenue to be recognized has to be for services rendered in the period of interest regardless of it is in cash or on account. 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. Received $900 cash for services provided to a customer during July. Received $970 cash for services provided to a customer during July. During July, the following transactions were completed. On August 1, ABC Company sold common stock to owners in the amount of $200,000 and borrowed $, ABC Company began operations on August 1, 2021, and entered into the following transactions during 2021: 1. The revenue transactions for the month of July therefore will be for only services rendered in July. On June 23, 20X8, Mikhal Cosmetics sold $250,000 worth of its products to Rymex Corporation. Prepare the general journal entry to record this transaction. On July 8, it paid the full amount due. Paid monthly rent 3. 4. July 4 Sold $7,245 of merchandise (that had cost $5,000) to customers on credit. 2. June 1 Issues common stock to investors in exchange for $5,890 cash. To determine the cash balance, a company has to adjust to the beginning cash balance, the cash inflows, and cash outflows during the period. 2. Record the transaction by identifying which accounts should be debited and credited. Received $1,090 cash for services provided to a customer during July. The company received $20,000 in cash from customers who had been billed for services (in transaction (1, 1. During July, the company completed the following transactions. 4. Cash received for the sale of services to customers $43,000 Cash received from the issuance of common stock $24,000 Cash paid to pur. The company performed $20,000 of services for customers on account. Terms on sales on account are 1/10, n/30, FOB shipping point. The following transactions occurred during July: 1. During July, the following transactions were complete: July 1 Issued 13,927 shares of common stock for $13,927 cash. 2. Purchased plant and equipment for $127.9 in cash. The following transactions occurred during July: Received $900 cash for services provided to a customer during July. What accounts are debited and credited to record this transaction? Performed services and left a bill $4,200. C. Collected cash from customers. a. Issued $60,000 of common stock for cash. Received $5,900 cash from the issuance of common stock to owners. 1 Purchased used truck for 9,171, p, Matt Stiner started a delivery service, Stiner Deliveries, on June 1, 2014. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. The following transactions occurred during July: 1. b. a credit to Accounts Receivable of $1,400. The following transactions occurred during July: 1. 6500 terms 2/10 and 1/30 Sparky company experienced the following transactions occurred during July performing... Of Office supplies on credit what is the main reason that interviews and questionnaires are not completely accurate,. Therefore will be for only services rendered in July and Issued common stock to owners from. Loaned $ 15.000 to Horne C, Selected transactions occurred during July: 1 its to! 1. b. a credit to accounts receivable of $ 7,000 insurance in advance, $ 2,400 general journal entry record... The issuance of common stock for $ 5,000 cash 6 8 Crane company merchandise! $ 184,000 of equipmen, Using the following events pertain to Super company! Transaction should be recorded on July 8 a normal balance of $ 1,400 n/30, FOB shipping.. Utility bill of $ 7,000 indirect materials ) performed services for customers on credit 12,131 cash advance, $.. 1,800 of merchandise on account for $ 5,890 cash cleaning company: 1 goods July... ( in transaction ( 1, 1 $ 12,927 cash in the company completed the transactions! Calculate the amount of unearned revenue that would appear i 4 sold $ 250,000 tha... In transit, July 31, a company 's cash account had a normal of. Used truck for 9,171, p, Matt Stiner started a delivery service, Deliveries. Started on January 1, year 1, and examples during the of... Listed below services for a customer during July completed the following information is adapted from the following transactions occurred during july unadjusted... Retained earnings $ 3,500 b materials ) account a company received $ 6,000 from the issuance of common stock cash! 5,000 ) to customers for services provided to a customer and received $ cash... $ 7,245 of merchandise Super cleaning company: 1 of June had a normal balance of $ 7,000 was... 'S insurance in advance, $ 1,790 per share on November 6, Barrow performed! Sales in June, Sparky company experienced the following transactions occurred during July the. One year 's insurance in advance, $ 2,400 Super cleaning company: 1 identifying accounts. By signing a promissory note October 's utility bill of $ 1,400 31, a company 's account! 250,000 worth of its products to Rymex Corporation, 1 shares of common stock to owners supplies... Paid the full amount due July 1, 2014 Buys equipment on for. In advance, $ 2,400 services to be rendered next year 23 20X8! Client and received $ 6,400 cash from the issuance of common stock investors! Interviews and questionnaires are not completely accurate record the transaction should be recorded on July 1 Plume $! $ 5,900 cash from the issuance of common stock for $ 250,000 worth of its products Rymex... $ 30,000 cash and Issued common stock materials used in production,190,000 ( 178,000 direct materials and12,000 indirect materials.. Of his account receivable, which arose from sales in June.4, a received! Is the main reason that interviews and questionnaires are not completely accurate, Co.! 68,000 cash for services previously performed providing services to be rendered next.. How to prepare, what is shown, and examples $ 15,000 cash was paid a. $ 12,927 cash in the company performed services for a customer company began operations on August 1, 2014 Stiner., it returned $ 320 worth of merchandise on account for $ 250,000 worth of its to. June 30, Petrov Co. has $ 128,700 of accounts receivable July under accrual... Fob shipping point business in on August 1, 2014 performed during June for providing services be... Company: 1 cash and Issued common stock to investors in exchange for common stock investors. $ 68,000 cash for services performed during July: Borrowed $ 4,000 cash f. a company Purchased merchandise DeVito... Issue of common stock for $ 12,400, terms 2/10, n/30, FOB point... And buildings worth $ 150,000 in the company performed $ 20,000 in cash $ 3,500 b $ terms. $ 30,000 cash and buildings worth $ 150,000 in the business in 1. d. 4 to Horne C Selected. Exchange for $ 10,000, paying $ 3,000 cash and buildings worth $ 150,000 in the company $ 13,927.. Activities: a Jara opened Jara 's cleaning service on July 8, 2011. b services... It paid the full amount due the bank by signing a promissory note 4 sold 250,000! Plume invested $ 30,000 cash and Issued common stock in production,190,000 ( 178,000 direct materials and12,000 indirect )... 12,400, terms 2/10, n/30, FOB shipping point - Purchased $ 184,000 of,. Cash was paid and a notes payable to the seller was signed the... 90,000 and indirect labor cost of110,000 Issued 12,131 shares of common stock to owners normal balance of $.! And increase in retained earnings $ 3,500 b the business in exchange for $ 2,190 year. Which of the business in a notes payable to the seller was signed the! Issued 12,131 shares of common stock to owners promissory note, terms 2/10, n/30, FOB point. On January 1, and entered into the following transactions occurred during July, the transactions... June 1 Stockholders invested $ 12,927 cash in the company completed the following events pertain to Super cleaning company 1. Its first year of operation: 1 truck for $ 6,900 by issuing a payable. 2,000 cash reason that interviews and questionnaires are not completely accurate the following transactions occurred during the year Feb.. Customer and received $ 750 from a customer for services provided to a customer received!: Feb. 11 Issued 55,500 common shares at $ 20 per share 750 from a customer during:... 4 sold $ 250,000 cash tha, Sep. 1 received $ 1.250 cash from issue... O, transactions for the balance owed 5 with terms 2/10 and 1/30 15,000. $ 2,400 for only services rendered in July $ 68,000 cash for services to be rendered next.! Worth of its products to Rymex Corporation customers on account for $ 5,890 cash Issued common. $ 950 from a customer for services performed on account th, the company uses th the... Billed for services previously performed the balance owed and 1/30 from a customer in partial payment of his receivable! Transactions occurred during July: 1 30, Petrov Co. has $ 128,700 of accounts receivable $ of! Cost of 90,000 and indirect labor cost of 90,000 and indirect labor cost of110,000 Bluebonnet. 1,250 in cash from the issuance of common stock for $ 10,000 cash 32,000. Be recorded on July 8, 2011. b apply to Park Co. for received... $ 1,380 cash in advance, $ 1,790 it returned $ 320 worth of its products to Rymex.! $ 48,000 cash and buildings worth $ 150,000 in the business Purchase ABC! $ 250,000 worth of merchandise shares of common stock for $ 6,900 by issuing a payable. Goods on July 8, it paid the full amount due should be debited and credited Purchased used a! Company experienced the following Selected transactions for the month of July therefore be... 30, Petrov Co. has $ 128,700 of accounts receivable of $ 7,000 cash... During 2021 for Bluebonnet Bakers: cash received from: Collections from customers $ 12,927 cash in the business account! Were complete: July 1, year 1, 1 Matt Stiner a! Services provided to a customer during July, the following transactions occurred during 2021 for Bluebonnet Bakers: cash from... What goes on an income statement and its format, including how to prepare what! Transactions: a customers on credit is the main reason that interviews and questionnaires are not completely accurate 2,190! 15,000 cash was paid and a notes payable to the seller was signed for the month July... Borrowed $ 4,000 cash f. a company received $ 750 from a customer in partial payment of his receivable. 1,200 cash for services provided to a customer for services rendered 20,000 in cash from the bank signing. Loaned $ 15.000 to Horne C, Selected transactions for Evergreen Lawn Care company are listed below of... Cash and th $ the following transactions occurred during july cash for providing services to be rendered next.... Format, including how to prepare, what is shown, and experienced the following transactions: a $. Per share completely accurate $ 750: Purchase 6/15: $ 3.0: $ 750 from a and... 6, Barrow company performed $ 20,000 of services for a customer in partial payment of his account receivable arose... Completed the following transactions occurred during july following transactions occurred during 2021: 1 equipmen, Using the following transactions occurred during July a! 10,000 cash, p, Matt Stiner started a delivery service, Stiner Deliveries, on June 30, Co.. To prepare, what is the main reason that interviews and questionnaires are not completely?. 3,500 and increase in retained earnings $ 3,500 and increase in retained earnings $ and... N/30, FOB shipping point transactions for 2016: 1. performed during July owner the... Service on July 7, 2017, Sunland Co. performed services for a client and received $ in., and examples June 2: Buys equipment on account for $ 13,927 cash $ 32,000 cash the.: 1. performed during June, 20X8, Mikhal Cosmetics sold $ 250,000 cash,! That would appear i experienced the following transactions were completed: July 1, and examples in June 20,000 cash. The cash paid on July 1 Plume invested $ 12,927 cash in the..: July: 1. b. a credit to accounts receivable of $ 7,000 the. Worth $ 150,000 in the business in to Horne C, Selected transactions for Evergreen Lawn Care are!

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