Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Q1) Record transactions in general journal which is given below.  Use only following account titles:  Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; YOUR NAME, Capital; YOUR NAME, Drawing; Service Revenue; Rent Expense; Supplies Expense; Utilities Expense.

3/1/07

Invested $20,000 in cash and $5,000 of equipment in the business

3/5/07

Purchased equipment on account, $1,200

3/7/07

Purchased supplies on account, $500

3/10/07

Purchased supplies with cash, $1,000

3/13/07

Received cash for services provided to clients, $2,500

3/15/07

Paid rent, $850

3/20/07

Billed clients for services performed, $850

3/25/07

Paid for equipment purchased on 3/5/07

3/28/07

Received payment for services performed on 3/20/07

3/31/07

Withdrew cash for personal use, $3,000

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M916787

Have any Question? 


Related Questions in Accounting Basics

Preston auto paint company had the temporary free use of an

Preston Auto Paint Company had the temporary free use of an old building and completed the following transactions in September 2010: Sept. 1 The company was organized and received USD 100,000 cash from the issuance of ca ...

To write a reply post to given answer minimum 350

To write a REPLY POST to GIVEN ANSWER. Minimum 350 words. You can agree or disagree with given answer. It should be your own opinion. Question: Michael Wilson is a new production manager. After a great deal of effort, in ...

Accounting paper assignment start-up budgetingfor this

Accounting Paper Assignment: Start-up Budgeting For this assignment, you will decide what type of budget to implement for a start-up company. Write a three to four page paper in which you: 1. Summarize the type of manufa ...

Assignmentthe company that i chose to research came to me

Assignment The company that I chose to research came to me on the way home from work this week while sitting in traffic. A string of several ads came on the radio and got a little frustrated that my Christmas tunes were ...

Guidelines for literature critiquesstudents are require to

Guidelines for Literature Critiques Students are require to read and understand assigned article. Students must submit a critique of assigned academic article. Please follow the format to complete your assignment. Detail ...

Accounting discussion questionaccounts receivable bad debt

Accounting Discussion Question "Accounts Receivable Bad Debt Expense (Direct Write Off Method Vs Allowance Method)": • Discuss the primary advantages and disadvantages of applying the direct write-off over the allowance ...

Question 1 this problem continues the haupt consulting

Question 1: This problem continues the Haupt Consulting situation from Problem 2-64 of Chapter 2. Start from the trial balance and the posted T-accounts that Haupt Consulting prepared at December 18, as follows: HAUPT CO ...

Accounting for nonfinancial assets will experience some

Accounting for nonfinancial assets will experience some major changes with the convergence to IFRS. One of the key issues will be that of fair value. Research this topic, and give your argument for or against the use of ...

Problem 1emma and laine form the equal el partnership emma

PROBLEM #1 Emma and Laine form the equal EL Partnership. Emma contributes cash of $100,000. Laine contributes property with an adjusted basis of $40,000 and a fair market value of $100,000. A. How much gain. If any, must ...

Question 1the following transactions occurred during july o

Question 1 The following transactions occurred during July: o Received $900 cash for services provided to a customer during July. o Received $2,200 cash investment from Barbara Hanson, the owner of the business. o Receiv ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen