the following transactions occurred during july:

2. 3. 2 Purchased a used van for deliveries for $12,000. Donec aliquet. d. $3,600. The following transactions occurred during July: 1. \begin{aligned} Received $1,250 cash for services performed during July. 27)The following transactions occurred during July for Hurley Services: (1) Received $800 cash for photography services provided to customer during the month. 2. Transcribed image text: The following transactions occurred during the fiscal year July 1, 2021 to June 30, 2022: 1. Journalize the transaction. B. Provided services to a customer on credit $565. Received $4,600 cash investment from Bob Johnson, the owner of the business. 4. Received $6,600 cash from the issuance of common stock to owners. 4. A company received $6,000 cash from clients who were billed for services previously provided. A. all states have income tax March 1 Issued common stock for $20,000 cash. Received $5,350 cash from the issuance of common stock to owners. Received $750 from a customer in partial payment of his account receivable which arose from sales in June.4. Provided services to a customer on credit, $375. The following transactions occurred during July: 1. Sept. 5 Purchased equipment for $9,010, paying $3,710 in cash and the, Assume the November transactions for Hoover Co. are as follows: a. Sept. 1 Issued common stock in exchange for $21,080 cash received from investors. Received $790 from a customer in partial payment of his account receivable which arose from sales in June. A company received $2,724 cash for services performed. $3,392 b. Recent Developments (Fourth Quarter 2022) SEC Adopts Final Rules Regarding 10b5 . FTX, at one point the world's third largest cryptocurrency exchange, went bankrupt, causing the entire cryptocurrency industry to crash. What was the amount of revenue for July? Provided $98,000 of services on account. Received $400 from a customer in payment of accounts receivable from the prior month. Received $6,000 cash from issuing common stock 2. Received $2,200 cash investment from Barbara Hanson, the owner of the business. Issued $60,000 of common stock for cash. Performed services for $43,000 cash. Calculation to determine the amount of revenue for July, Revenue=Cash received for services provided+Services provided customer on credit, Therefore the amount of revenue for July is $1,275, This site is using cookies under cookie policy . -8 Returned $100 of the items purchased on July 6. June 1 Issues common stock to investors in exchange for $5,890 cash. The following transactions occurred during July: 1. 2003-2023 Chegg Inc. All rights reserved. Fusce dui lectus, congue vel, ur laoreet. 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. On June 20, it returned $435 of that merchandise. How would Forester record this transaction? 3. Collected $82,000 cash, The following selected transactions were completed during August of the current year: Aug. 1 Billed customers for fees earned, $74,140. Anya Clark opened Anya's Cleaning Service on July 1, 2017. 1-Jun Paid rent for June $2600. Journalize the July transactions. July 1: Anya invested $20,000 in cash in the business. 4. The following transactions occurred during July: 1. Bank loans of $3,000 were paid off. Received $400 from a customer as payment for services performed during June. molestie consequat, ultrices ac magna. iv. What amount is received as payment in full on July 24? Purchased plant and equipment for $127.9 in cash. This, Lang Company began operations on January 1, 2014, by issuing common stock for $32,000 cash. 3. Prepare the general journal entry to record this transaction. Received $4,400 cash investment from Bob Johnson, the owner of the business. Sign Up to our social questions and Answers Engine to ask questions, answer peoples questions, and connect with other people. a. Sold inventory for $250,000 cash tha, Sep. 1 Received $48,000 cash and issued common stock to Sikes. The following transactions occurred during July: Received $900 cash for services provided to a customer during July. What does the formula give as the $2010$ approximation? e. Receive, You have the following Information on Spann Company. It should show expected cash receipts and cash disbursements for the month and the cash balance expected on July 31. June 1 Mark invested $10,000 cash in the business. 3. 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. 2. Which of the following describes how the transaction should be recorded on July 7? 6 Performed services for a law firm and received $2,000 cash. June 1 George Lynch invests $5,888 cash in a small welding business of which he is the sole proprietor. Received $3,400 cash investment from Bob Johnson, the owner of the business. Wik Case. ii. Nam lacinia pulvinar tortor nec facilisis. ZuoTi.Pro. Received $950 from a customer in partial payment of his account receivable which arose from sales in June. Issued common stock for $5,600 cash. 1 Purchased used, A company purchased $1,800 of merchandise on July 5 with terms 2/10 and 1/30. Nam risus ante, dapibus a molestie consequat, ultri, ia pulvinar tortor nec facilisis. On July 8, it paid the full amount due. QN= 97 The following transactions occurred during July: 1. For July: 1. 3) Prepare a trial balance at July 31st. ABC Company began operations on August 1, 2021, and entered into the following transactions during 2021: 1. Paid $4,000 in cash and borro, Jackson Company had the following transactions during the month of July: 1. a. The following transactions occurred during July: Received $1,020 cash for services provided to a customer during July. Pellentesque dapibus ef, dictum vitae odio. Acquired $15,600 cash from the issue of common stock. On July 5, Morgenstern purchased and received $24,300 of supplies on credit from Drexel Supply Inc. During July, Morgenstern paid $20,500 cash to Drexel, The following selected transactions were completed during January of the current year: - Billed customers for fees earned $41,730. Only transaction #1 and #4 apply to revenue recognition. Received $5,000 cash from the issuance of common stock to owners. Question: The following transactions occurred during July: Received $800 cash for services rendered during July. 4 Purchased supplies on account, $2,150. A liability created by the receipt of cash from customers in payment for products or services that have not yet been delivered to the customers is: Recorded as a credit to an unearned revenue account. Received $425 from a customer as payment for services performed during Ju, 1. Billed $3,500 to customers for services performed on account in July. All other trademarks and copyrights are the property of their respective owners. Don, ac, dictum vitae odio. Can you reconcile these two facts. Received $50,000 cash from the issue of common stock. Borrowed $6,000 from the bank by signing a promissory note. 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. Received $1,200 cash for services performed during July. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. How would Camden record this transaction? c. Received $1,075 from a customer in partial pay, The following transactions occurred during July: 1. Provided $14,500 of services on account. 3. a. Lorem ip. Get access to this video and our entire Q&A library, The Differences Between Accrual & Cash-Basis Accounting. Pellentesque dapibus efficitur lao. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. Borrowed $3,100 from the bank and signed a promissory note. During July, the general ledger account Cash. The February 28 cash balance was $1,800. Learn about the principles and process of revenue recognition with examples of recognition criteria before exploring some exceptions to the rule. The following were June transactions: 1. Received $1,800 cash for services provided to a customer during July. c. The normal balance of unearned revenues is a credit. The following transactions occurred during July: Received $900 cash for services provided to a customer during July. Purchased land for $12,000, signing a note payable for the full amount. 4. A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. Received $870 from a customer in partial payment of his account receivable which arose from sales in June. 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. c. a debit to Cash of $1,400. June 15 Declared a cash dividend of $1.5 per share to stockholders of record on June 30. Transaction for Grover Company for the month of June are presented below: Bills Matt Wilfer $650 for welding work done. 2022 was a busy year at the SEC. 2. Pellentesque dapibus effici, or nec facilisis. Received $5,800 cash investment from Bob Johnson, the stockholder of the business. Experts are tested by Chegg as specialists in their subject area. The business purchased land for $6,000 cash. 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 July 2018|Retired a piece of machinery that was purchased on 1 July 2008. ales Collected $520 cash from customers for services performed in September. D. $1,60. Borrowed $3,400 from the bank and signed a promissory note. 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. The following transactions apply to Park Co. for 2016 Received $32,000 cash from the issue of common stock. The following transactions occurred during July: Which of the following formulas can be used to calculate the debt ratio? Please give positive ratings so I can keep answering. Using the following transactions: a. Debit Cash, Credit Common Stock Equity, 3. What was the balance in the Cash account at the beginning of October? Received $750 from a customer in partial payment of his account receivable which arose from sales in June. 4. 4. 1. Provided services of $15,600 on account c. Purchased supp. Expenses of $32,800 were paid. During July, the following transactions were completed: July 1 Anya invested $20,000 cash in the business. Received $850 from a customer as payment for services performed during June. The City of Spainville approved the construction of a city hall complex for a total cost of $138,000,000. wine A simple account form widely used in accounting to illustrate how debits and credits work is called a: The difference between the total debits and total credits for an account including the beginning balance. Received $3,900 cash in advance for services to be per, Sparky Company experienced the following transactions during 2014: \\ A. The amount of the cash paid on July 8 equals: A. The following transactions occurred during July: Received $1,700 Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. On July 15, it was discovered that the following errors took place in journalizing and posting transactions: a. On September 30, Forester Inc. receives its electric bill for the month of September in the amount of $300. This represents an increase in revenue. c. Billed customers for services rendered, $6,000. tax 2. On April 1, Larkspur, Inc. began operations. $$ Multiple Choice $1,080 $1,635. Issued Common Stock to investors in exchange for $5,000 cash. During October, the account was debited for a total of $4,250 and credited for a total of $5,340. 3) Paid October's utility bill of $600. 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. Provided services to a customer on credit, $375. On July 7, 2017, Sunland Co. performed services for a client and received $1,380 cash. On July 7, it returned $200 worth of merchandise. Received $5,000 from issuance of stock to investors. 5 Made credit sales of $25,000 Jun. 1. This was also Chair Gary Gensler's first full year at the helm of the SEC, and saw the implementation of an ambitious rulemaking agenda. 3. What was the January 31 beginning cash balance? Find the indicated derivatives. The following transactions occurred during July: 1. 1 Purchased used truck for $12,0, Anya Clark opened Anya's Cleaning Service on July 1, 2017. b.Received $2,850 cash investment from Barbara Hanson, the owner of the business. Which of the following statements is false with regard to the debt ratio? On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. Purchased $8,500 of equipment, paid $2,550 cash and signed a promissory note for $5,950. 8 Received cash from customers on account, $62,970. All rights reserved. 6. On May 1, ABC, Anya Clark opened Anya's Cleaning Service on July 1, 2017. (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. 2 Purchased furniture for $10,000 cash. tobacco products, Which of the following is a true statement? C) December. a. 1 Purchased a used truck for $1, During the month of October 2015, Weller Company had the following transactions: 1. Borrowed $4,000 cash f, The following transactions apply to Baker Co. for 2010, its first year of operations. A. On July 7, it returned $260 worth of merchandise. Journalize BullsEye's transactions for July 10, 2011. 3. fast food Deposits in transit on July 31 were $3,205. iii. Received $380,000 cash for customer accounts. Borrowed $25,000 cash from creditors. Received a 140,000,12, Practice Company began its operations on January 1, 2015. On July 7, it returned $200 worth of merchandise. You will receive a link and will create a new password via email. 3. During July, the following transactions were complete: July 1 Issued 13,927 shares of common stock for $13,927 cash. 7 Paid $25,000 cash to acquire land to be used in operations. Recorded as a debit to a prepaid expense account. $410 b. The following transactions occurred during July: 1. c. The left side of a T-account is the debit side. The transactions of Wilko Ltd for the year to 30 June 2017 are as follows: 1. The company paid cash. A, X Company, a merchandiser, started business on June 1. Also, the balances are provided for the month ended July 31. Bateer Company established a $50 petty cash fund on July 1. During the month of July, the following transactions occurred: July 1: Issued $18,000 of 3. During July, the following transactions were completed. On July 8, it paid the full amount due. July 9 Sold $20,000 of accounts receivable to Main Bank. c. June 15: Made cash sales of $21,400 to customers. Equipment of $2,500. 4. The company performed $20,000 of services for customers on account. QN= 97 The following transactions occurred during July: QN=98 If Tim Jones, the owner of Jones Hardware proprietorship, uses cash of the business to purchase a family automobile, the business should record this use of cash with an entry to: d. Debit Tim Jones, Withdrawals and credit Cash. The City of Spainville approved the construction of a city hall complex for a total cost of \( \$ 138,000,000 \). The amount of the cash paid on July 8 equals: a. During July the following transactions were completed. Apr. 2) Post to the ledger accounts. 2. 3. 4. Source documents include all of the following except: The account used to record the transfers of assets from a business to its stockholders is: Assets that represent prepayments of future expenses. July 1 Purchased a truck for $11,000. 2. 3. 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 following transactions occurred during May, the first month of operations for XYZ Company: 1. The following transactions occurred during July: Received $1,020 cash for services provided to a customer during July. Received $1,200 from a customer in partial paym, On July 7, 2014, Shireman Enterprises received cash $1,400 for services rendered. Received $5,900 cash from the issuance of common stock to owners. Sold for $4. 4. Purchased $50,000 of equipment by making a $20,000, Some of the transactions of XYZ Corporation during August are listed below. 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. The following transactions pertain to the operations of Blair Company for 2014: 1. 2. What amount is received as payment in full on July 24? 5. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. During September, the account was debited for a total of $12,200 and credited for a total of $11,500. 1 Purchased used truck for 9,171, p, Matt Stiner started a delivery service, Stiner Deliveries, on June 1, 2014. A credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a return of $200 is granted on July 18. What accounts are debited and credited to record this transaction? The following transactions occurred during July: 1. The following transactions occurred during July: 1. 5. 1. 2. Fusc, gue vel laoreet ac, dictum vitae odio. A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. 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. where $t$ is the number of years past $2000$ (Source: Centers for Medicare and Medicaid Services). 2 Buys equipment on account for $1,240. 2. Course Hero is not sponsored or endorsed by any college or university. On July 7, it returned $410 worth of merchandise. 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. The following transactions occurred during the fiscal year July 1, 2021 to June 30, 2022: 1. Petersen Book Store entered into the transactions listed below. Received $930 from a customer in partial payment of his account receivable which arose from sales in June 4. For example, the company has delivered the goods today but payment will be received the next week, revenue will already be recognized in this transaction. 4 Purchased supplies on account, $1,970. Provided services to a customer on credit. 4. Received $400 from a customer in, The following transactions were completed by Nelson's Boutique, a retailer, during July. All other trademarks and copyrights are the property of their respective owners. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. QN=95 On April 30, Holden Company had an Accounts Receivable balance of $18,000. A company received $6,000 cash for services rendered. Certain states have no state income tax Purchased office equipm, Selected transactions for Protheroe Corporation during its first month in business are presented below. Received $1,440 cash from a customer for services to be rendered next year. Received $900 cash for services provided to a customer during July. Debit to Accounts Receivable, credit to Service Revenue. Paid $10,800 cash to buy equipment. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. 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. Issued common stock for $23,500 cash. The February 28 cash balance was $1,800. Debit Cash for $2,000 and Credit Unearned Revenue for $2,000. For a compound transaction, July 12. The following transactions occurred during July: Received $1,700. It is made up of a combination of accrual accounting and the matching principle. 3. d. June 29: Paid a $6, Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. Stockholders purchased, Journalize the August transactions for Beartooth Co. You will receive a link and will create a new password via email. 1 Purchased used the truck for $, Transactions for Sheridan Company for the month of June are presented below. Received $900 cash for services performed during July. Acquired $23,400 cash from the issue of common stock. Received $6,400 cash from the issuance of common stock to owners. Prepare the general journal entry to record this transaction. 2. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. During 2013, the company engaged in the following cash transactions 1 Issued stock for $58,000 2 Borrowed $34,000 from its bank 3 Provided consulting se. A company received $4,720 cash for services provided. Provided services to a customer on credit, $495. 3. (c) Estimate the expenditures for $2015$. 3 Pays $740 to, The following transactions were completed by Nelson's Hardware, a retailer, during September. 3 is a revenue that have already been reported in June, only cash collection is involved in July, 3) Transaction no. Equipment of $40,000 was purchased with cash. Received $900 cash for services provided to a customer during July. . Billed customers o, Transactions for 2016: 1. Issued 11,000 shares of common stock for $11,000 cash. 3. Login to our social questions & Answers Engine to ask questions answer peoples questions & connect with other people. The following transactions occurred during July: 1. b. Received 900 cash for services provided to a customer during July2. Terms on sales on account are 2/10, n/30, FOB shipping point. Calculate the ending balance for each account. B) September. On July 7, it returned $200 worth of merchandise. Ba, On July 7, Saints Inc. received $10,200 in cash from a customer for services to be provided on October 10. 3. $3,332. 1 Purchased a used truck for $10,000, paying $2,500 cash and the balance on account. Please briefly explain why you feel this question should be reported. 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. Borrowed $40,000 cash from National Bank. 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. Bank loans of $3,000 were paid off. Acquired $30,000 cash from the issue of common stock. July 8 Billed customers for $3,000. -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. This represents an increase in revenue. QN=89 Which is true about An account balance: c. Is the difference between the total debits and total credits for an account including the beginning balance. \end{aligned} Provided services to a customer on credit. Sold 20,000 additional shares on July 29, 2017, of capital sto, On June 30, Petrov Co. has $128,700 of accounts receivable. 3. 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. 4 Paid $20,000 cash for land to use as a building site. During July, the company completed the following transactions. 2. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. Login to our social questions & Answers Engine to ask questions answer peoples questions & connect with other people. 2. D. The general journal entry made by Wisconsin Rentals will include a: QN=93 An asset created by prepayment of an expense is: b. Billed $4,850 to customers for services performed on account in July. Received $625 from a customer as payment for services performed during Jun, The following transactions occurred during July: 1. Received $900 cash for services provided to a customer during July. 1. Received $5,900 cash from the issuance of common stock to owners. A company purchased $2,400 of merchandise on July 5 with terms 2/10, n/30. Received $1,030 cash for services provided to. Provided services to a customer on credit, $375. How would Teasdale record this transaction? Received $2,350 from a customer for services to be performed during August. Borrowed $80, The following summarized transactions for Kim's Company are typical of those that occurred in July 2010 (dollars are in millions). Obtained a bank loan for $6,900 by issuing a note payable. Ask a Question; . The following ten transactions occurred during the July grand opening of the Pancake Palace. 2. Issued common stock for $5,600 cash. During July, the following transactions were completed. Cash balance per bank, July 31, $7,843. $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. The following transactions took place in June: a. 2. Billed $4,400 to customers for services performed on account in July. Purchased office e, Following are transactions of Gotebo Tanners, Inc., a new company, during the month of January: 1. Received $5,800 cash investment from Bob Johnson, the stockholder of the business. During July, the company completed the following transactions. What was the January 31 beginning cash balance? 2. Issued 10,000 shares of common stock for $15,000 cash. b. 3. Dec 23 2022 1 hr 21 mins. The following transactions occurred during July. The following transactions occurred during July: received $900 cash for services provided to a customer during July. Received $1,400 cash for services performed during July. Received $880 from a customer in partial payment of his . Provided services of $15,600 on account. 2. 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. 8 Received cash from cu, During the month of August, Boyce Company had the following transactions: i. On July 7, it returned $410 worth of merchandise. What is the amount of the cash paid on July 8? 2. July 3 Received cash from J. Smith in payment of June 29 invoice of $350, less cash discount July 6 Issu. 2. 3 . 6 Performed service for customers and received cash of $2,000. Which of the following list of events properly reflects the early steps taken in the accounting process? 2. 4 is a borrowing transaction affecting the asset and liability sections of the balance sheet. Received $850 cash for services performed during July. What is the primary function of management? 104$^\circ$F, *Graph the syst em of linear inequalities and indicat e the solution set. 1. Pel, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. Provided services to a customer . If payment is made on June 23, how much cash is received? Purchased inventory on account for $180,000. Borrowed $30,000 with a 6-month loan payable. Please briefly explain why you feel this user should be reported. Analyze each transaction, record relevant transactions, post journal information to ledger accounts, and prepare and analyze the trial balance. Please briefly explain why you feel this user should be reported. During July, the following transactions were completed. A record containing all accounts (with amounts) for a business. Received $1,090 cash for services provided to a customer during July. Received $1,430 cash from a customer for services to be performed next year. The cash records of Carla Vista Company show the following. Received $800 cash for services rendered during July. 2. Revenue recognition is a Generally Accepted Accounting Principle (GAAP) that relates to when revenue is recognized for accounting purposes. 3. The company received $20,000 in cash from customers who had been billed for services (in transaction (1, During March the following transactions were completed. A company received $3,000 cash from clients for services provided. 12.- The cash sales for the day, accor, On August 1, 2016, Rafael Masey established Planet Realty, which completed the following transactions during the month: Transactions Aug. 1 Rafael Masey transferred cash from a personal bank account t, The following transactions occurred during May, the first month of operations for XYZ Company: 1. What would be the account balance in the Service Revenue account after the following transactions, assuming a zero beginning balance?

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