2. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this chapter. Required:. The following transactions occur for Badger Biking Company during the month of June:a. \hline & \text { Total }=300 \\ a. Carter deposited 25,000 in a bank account in the name of the business. No. Provide services to customers on account for $46,000. Provide services to customers on account for $34,000. Paid $4,380 for salaries and wages for the month of June. c. Purchase bike equipment by signing a note with the bank for $25,000. The payment of utilities for $3,400 decreases asset cash by $3,400 while stockholders equity retained earnings decreases by same amount. Provide services to customers on account for $49,000. 1004. j. (Decreases to account classifications should be entered as a Brief Exercise 2-4 Analyze the impact of transactions on the accounting equation (LO2-2) The following transactions occur for Badger Biking Company during the month of June: a. Prepare a balance sheet as of July 31, 20--. Fus, congue vel laoreet ac, dictum vitae odio. Prepare T accounts, using the account titles in (1). D. Depending on where you live, you may pay no taxes at all. Billed customers for delivery services on account, 22,400. You can specify conditions of storing and accessing cookies in your browser. Prepare an adjusted trial balance. No. Organize them. Receive cash of $38,000 from customers in (a) above. Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. Purchase bike equipment by signing a note with the bank for $27,000. Briefly explain why the owners investment and revenues increased owners equity, while withdrawals and expenses decreased owners equity. 1204. i. Maria completed the following transactions during the month of April: a. Paid part-time receptionist for two weeks salary, 750. Purchase bike equipment by signing a note with the bank for $35,000.c. Actual mileage was 5,800 miles in 2018 and 20,600 miles in 2019. Fus, a. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Assets = Liabilities + Stockholders' Equity Transaction (a) (b) increase (b) decrease (c) (d), Solution: Transaction Assets Liabilities + Stockholders' Equity $ 46,000 + b) Increase b) decrease $ $ $ $ $ 46,000 = 38,000 -38,000 = 31,000 = -4,600 = $ 31,000+ $ -4,600. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's. Repay $10,000 of the note in (b) above.d. Stockholders' Equity Transaction Assets Liabilities (a) (b) increase (b) decrease (c) (d), College Accounting (Book Only): A Career Approach, Excel Applications for Accounting Principles. Write the account totals from the left side of the equals sign and add them. \hline \text { B: } 80 \text { up to } 90 & 45 \\ The following transactions occur for Badger Biking Company during the month of June: a. Prepare an income statement, a retained earnings statement, and a balance sheet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. c. Purchase bike equipment by signing a note with the bank for $34,000. 31. Chicken bones, fruit rinds, coffee grounds and more can go right down the drain and into the garbage disposal, where they're virtually liquefied to safely flow into your sewage system or septic tank. 1. True or False A transaction involving a debit to an asset account should be posted, Suppose a local company has the following balance sheet accounts. Instructions 1. 2015. c. Bought supplies on account, 225. d. Bought a truck for 18,000, paying 1,000 in cash and placing the remainder on account e. Bought Insurance for the truck for the yean 1,400, Ck. 504 (Utilities Expense). No. (Decreases to account classifications should be entered as a negative.) gifts. help?!? c. Purchase bike equipment by signing a note with the bank for $31,000. Net income = Total revenues - Total expenses. Required 1. I need help with all of these, even the blanks that currently Why do buildings on permafrost have potential structural issues? Amount of total expenses recorded in the ledger. Prepare a post-closing trial balance. Received and paid the electric bill, 438, Ck. haploid or diploid? Equity Recorded cash from cash clients for fees earned during the period May 1-16, 8,360. Purchase bike equipment by signing a note with the bank for $32,000. Course Hero is not sponsored or endorsed by any college or university. Fusce dui lectipsumtrices ac magna. Nam lacinia pulvinar tortor nec facilisis. d. Pay utilities of $5,000 for the current month. Pel, ce dui lectus, congue vel laoreet ac, dictum vitae odio. b. a. b. Course Hero is not sponsored or endorsed by any college or university. 1. Receive cash of$42,000 from customers in (a) above. Prepare an income statement for April, a statement of owners equity for April, and a balance sheet as of April 30. 17. Indicate the effect of each transaction on the accounting equation elements (Assets, Liabilities, Owners Equity, Drawing, Revenue, and Expense). 3. 2017. j. Q:For each transaction below, calculate the amount of revenue to be recognized in the current period, A:Here in this question we are require to calculate the revenue that needs to be recorded under, Q:Tremor Co. had the following transactions in the last two months of its fiscal year ended May 31., Q:[The following information applies to the questions displayed below.] Total the left side of the accounting equation (left side of the equal sign), then total the right side of the accounting equation (right side of the equal sign). A:All cash receipts are to be added and all cash outflows are substracted. On April 1, 2016, Maria Adams established Custom Realty. Prepaid taxes will be reversed within one year but can resu. Accounting equation represents assets must equal the total of liabilities and equities., Q:The following transactions occur for Badger Biking Company during the month of June: Record the inventory purchase on February 2 and the payment on February 10. Provide services to customers on account for $34,000. 1) Use source documents to identify accounts affected by external transactions. Receive cash of $36,000 from customers in (a) above c. Purchase bike equipment by signing a note with the bank for $29,000 d. Pay utilities of $4,400 for the current month c. Purchase bike equipment by signing a note with the bank for $32,000. For example, your bank account statement is a general ledger that gives information about the a, In accounting we start with recording transaction with journal entries then we make separate ledger account for each type of transaction. c. Purchase bike equipment by signing a note with the bank for $34,000. Bought a truck from Kelly Motors for 26,329, paying 8,000 in cash and placing the balance on account, Ck. On June 30, the companys, A:Income statements shows the total revenues earned and total expenses incurred by an organization for, Q:Determine the financial effect on the balance sheet and income statement for each of the following, A:Assets=Liabilities+Stockholders'Equity, Q:Daube Industries' operations for the month of October are summarized as follows: The account headings are presented below. The following transactions occur for the Hamilton Manufacturers. No. 8. b. a. Provide, A:Accounting Equation: This is a mathematical equation, which represents the association between, Q:Carmen Camry operates a consulting firm called Help Today, which began operations on October 1. Assets = Liabilities + Stockholder's Equity. e. Stimulus. Prepare a statement of owners equity for July 31, 20--. No. In October, A. Nguyen established an apartment rental service. The following transactions occur for Badger Biking Company during the month of June: a. Get access to all 6 pages and additional benefits: In posting transactions to a T-account, debits are posted on the left side and credits are posted on the right side. The following transactions, A:AsperAccountingEquation,Assets=Liabilities+Stockholdersequity, Q:Daube Industries operations for the month of October are summarized as follows: Fundamentals of Financial Management, Concise Edition, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Kenneth E Anderson, Thomas R Pope, Timothy J Rupert. Journalize each of the May transactions in a two-column journal starting on Page 5 of the journal and using Kelly Consultings chart of accounts. b. Provide services to customers on account for $35.000 b. Assets Problem #3 A company has the following transactions during June: June 2 Provide services to customers Three masses are arranged on a table with pulleys, as shown. 505. m. Paid the salary of the assistant, 1,150, Ck. We review their content and use your feedback to keep the quality high. Analyze each transaction . Lost your password? 102. f. Sold services on account, 4,700. g. Bought office equipment on account from Stern Office Supply, 1,250. h. Sold services for cash for the first half of the month, 8,250. i. Problem #2 A company has the following transactions during June: June 2 Provide services to customers Below are various transactions that a local corporation had occur during the month For each transaction, Arthur Industries entered into the following transactions during the month of June. Doubtful Accounts? a. Wallace deposited 24,000 in a bank account in the name of the business. Enter the email address you signed up with and we'll email you a reset link. 11/09/2012. No. Find step-by-step Accounting solutions and your answer to the following textbook question: The following transactions occur for Badger Biking Company during the month of June: a. Acquisition. 502. f. Sold catering services for cash for the first half of the month, 3,012. g. Bought supplies for cash, 185, Ck. c. Repay $20,000 of the note in (b) above. $$ Purchase bike equipment by signing a note with the bank for $34,000. Receive cash of $42,000 from customers in (a) above. b. Paid the rent for the month, 1,200, Ck. b. Also indicate the specific item within the accounting equation element that is affected. 1209. C. Paid $440 in advance for July rent. Paid cash for a newspaper advertisement, 225. No. b. Provide services to customers on account for $35.000 b. Repay $25,000 of the note in (b) above. Provide services to customers on account for $50,000.b. l. Gervais withdrew cash for personal use, 1,550, Ck. Receive cash of $41,000 from customers in (a) above. A very small p-value indicates that: On November 28, 2018, Shocker receives a $1,950 payment from a customer for services to be rendered evenly over the next three months. d. Pay utilities of $5,000 for the current month. c. Purchase bike equipment by signing a note with the bank for $34,000. For each transaction indicate by how much each category in the accounting equation increases or decreases. 1006. 'The following transactions occur for Badger Biking Company during the month of June: a. b. If you still cannot find the error, re-analyze each transaction. c. Repay $29,000 of the note in (b) above. D. 1207. m. Paid wages to an employee, 1,200, Ck. b. No. ales Transcribed Image Text: Bradenton Biking Company sells high performance road and mountain bikes. tobacco products, Which of the following is a true statement? 103. j. Determine the amount McCoy's Fish House should record as the cost of the land. 4. Cash receipts received by the company but not yet recorded by the bank. The following transactions occur for Badger Biking Company during the month of June: a. Transactions completed during the month of October follow. Assume all accounts have, A:TB stands for Trial balance refers to the worksheet of bookkeeping under which all the balance of, Q:The following transactions for the month of March have been journalized and posted to the proper. (b) decrease 4. a. (F) Unearned fees on May 31 are 3,210. c. Repay $15,000 of the note in (b) above. If you still cannot find the error, reanalyze each transaction. Receive cash of $32.000 from customers in (a) above. It can also be referred as financial repor. Determine the increase or decrease in retained earnings for August. Assets d. Pay utilities of $4,200 for the current month. Record the closing entries on Page 8 of d1e journal. No. Purchase bike equipment by signing a note with the bank for $32,000. The account headings are presented below. Receive cash of $39,000 from customers in (a) above. Each and, Q:Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. The following transactions occur for Badger Biking Company during the month of June: Eagle Corp. operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. Analyze each transaction and indicate. Write the account totals from the right side of the equals sign and add them. Equity Joseph Anthony M. Alejandro, A.C. N, QUESTION Which of the following does not refer to middleware A COM B DCOM C JAVA, Case Analysis - Guidelines and grading rubric-2.docx, Quality Service Management in Tourism and Hospitality.docx, Sally a sixty one year old Caucasian female presents to your practice for a well, k_g_k_sch_cm94YW5uZS5ib3dsZXNAcmNzLmsxMi5hbC51cw_11._Writing_Commentary-The_Author_to_Her_.pdf, time and conclusions drawn about different aspects and variables as identified, GOVT 2306 Spring 2022 Welcome Letter.docx, Whichofthefollowingproceduresisatestoftheaccuracyvaluationandallocationofpropert, Copy of SAS Programming Module Thirteen Lesson One Activity.pdf, Inc IM2 Unit 5 Summative Assessment - Google Docs.pdf, 68 An international business experienced signicant changes due to advances in. Provide services to customers on account for $50,000. Sold services on account, 3,603. k. Sold services for cash for the remainder of the month, 4,612. l. Paid wages to the employees, 3,958, Ck. Required information [The following information applies to the questions displayed below.) d. Pay utilities of $3,000 for the current month. Q:Analyze the following transactions and prepare a list of accounts that are affected. Journal entries and trial balance On August 1, 20Y7, Rafael Masey established Planet Realty, which completed the following transactions during the month: a. Rafael Masey transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, 17,500. b. Received and paid the bill for utilities, 150, Ck. Analyze each transaction and indicate the amount of increases and decreases in the, accounting equation. e. Bought insurance for the truck for one year, 400, Ck. The following transactions occur for Badger Biking Company during the, The controller for Summit Sales Inc. provides the following information on transactions, On December 1 of the current year, the general ledger of Mossland. 28. Foot the T accounts and show the balances. Start your trial now! No. The principal decides to substitute popular music for the bell to indicate the end of each class period. The following transactions occur for Badger Biking Company during the month of June: a. If the two totals are not equal, check the addition and subtraction. 8. d. Pay utilities of $4,600 for the current month. Purchase bike equipment by signing a note with the bank for $35,000.c. Write the letter of each entry to identify the transaction. Provide services to customers on account for $49,000. If you still cannot find the error, re-analyze each transaction. 3. Provide services to customers on account for $40.000. 2. Paid dividends, 10,500. Checks outstanding banks balance and company balance, NSF Checks banks balance and company balance, Deposit recorded twice by company banks balance and company balance, Interest Earned banks balance and company balance, deposit outstanding banks balance and company balance, Bank Service Fees banks balance and company balance, Calculate the amount of cash to report to the balance sheet, Right ti return unsatisfactory or damaged merchandise. A journal entry is frequently used to record a transaction in an organization's, Q:Transactions made by Whispering Winds Corp., a law firm, for the month of March are as follows. The following transactions occur for Badger Biking Company during the month of June: a. d. Pay utilities of $4,400 for the current month. No. (Income Summary is account #34 in d1e chart of accounts.) 30. c. Purchase bike equipment by signing a note with the bank for $35,000. The company purchases inventory on account on February 2, 2015, for $22,000 and then sells this inventory on account on March 17, 2015, for $42,000. Purchase bike equipment by signing a note with the bank for $27,000. An economics professor states on her syllabus that final grades will be distributed using the normal distribution. If you still cannot find the error, re-analyze each transaction. d. Pay utilities of $3,500 for the current month. a. Rodriguez deposited 70,000 in a bank account in the name of the business. 505. m. Paid the salary of the assistant, 1,150, Ck. For each account in the post-closing trial balance, enter the balance in the appropriate Balance column of a four-column account. Provide services to customers on account for $50,000. Purchased supplies on account, 4,000. c. Paid creditors on account, 2,300. d. Received cash from fees earned on insurance commissions, 13,800. e. Paid rent on office and equipment for the month, 5,000. f. Paid automobile expenses for the month, 1,150, and miscellaneous expenses, 300. g. Paid office salaries, 2,500. h. Determined that the cost of supplies on hand was 2,700; therefore, the cost of supplies used was 1,300. i. Provide services to customers on account for $44,000. (c) Pay advertising of $1,400 for the current month. 1208. n. Resser withdrew cash for personal use, 700, Ck. Paid on account to the City Crier, 455, Ck. Purchase bike equipment by signing a note with the bank for $36,000. A minimum 30-foot-wide legal easement and a 20-foot-wide traveled way built to fire code standards, with an unobstructed width of 20-feet and a surface to provide all weather driving capabilities from the property to a public right of way must be provided for the construction of any primary structure. Pay utilities of $5,000 for the current month.Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. No. Date the balances May 1, 2018, and place a check mark () in the Posting Reference column. Experts are tested by Chegg as specialists in their subject area. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, 4,500. + Purchase bike equipment by signing a note with the bank for $35,000.d. \hline No. b. September 8 Purchase painting equipment for $19,000 cash. 1202. e. Bought supplies on account from Wigginss Distributors, 535. f. Sold services for cash, 1,742. g. Bought insurance for one year, 1,375, Ck. Recorded services provided on account for the remainder of May, 2,650. 3002. g. Bought insurance for the truck for the year, 1,200, Ck. c. Purchase bike equipment by signing a note with the bank for $19,000, Paid the office rent for the current month, 650, Ck. No. sports drink Received cash from clients on account, 9,520. Assets: Equipment = 25,000; Cash = 5,800; Land = 17,000; TOTAL ASSETS = $47,800. on Consulting, which began, A:A balance sheet is a financial statement that details a company's assets and liabilities at a, Q:The following are the account balances for Facci Company on December 31. Receive cash of $41,000 from customers in (a) above. Students are accustomed to a bell ringing to indicate the end of a class period. Provide services to customers on account for $49,000. to prepare a balance sheet, (B) Supplies on hand on May 31 are 715. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Prepare a trial balance as of July 31, 20--. What principle does this illustrate? It recorded in a tabular format which, Q:The following transactions occurred during July: 1001. d. Bought office equipment on account from Dellos Computers, 6,300. e. Received a bill from the City Crier for advertising, 455. f. Sold services for cash, 3,944. g. Paid on account to Dellos Computers, 1,500, Ck. d. Pay utilities of $4,100 for the current month. Receive cash of $38,000 from customers in (a) above. Lorem ipsum dolor sit amet, consectetur adipiscing elit.Morbi adipiscing gravdio, sit amet suscipit risus ultrices eu.Fusce viverra neque at purus laoreet consequa.Vivamus vulputate posuere nisl quis consequat. d. Pay utilities of $4,600 for the current month., Eagle Corp . j. c. Purchase bike equipment by signing a note with the bank for $32,000. 2. ACCT. Fees imposed by the bank to the company for providing routine services. 6. b. Provide services to customers on account for $41,000. Ressers accountant listed the following chart of accounts: The following transactions were completed during July: a. Resser deposited 25,000 in a bank account in the name of the business. Paid Office Station Co. for part of the debt incurred on April 5, 640. 20182020. l. Sold services for cash for the remainder of the month, 4,200. m. Nguyen withdrew cash for personal use, 2,000, Ck. No. Required 1. Correctly place the plus and minus signs for each T account and label the debit and credit sides of the accounts. Purchase bike equipment by signing a note with the bank for $22,000. 3004. i. b. (c) identifying risk eliminating risk prioritizing risk assessing risk, What is the term for the total amount of money an employee earns in a pay period? (Decreases to account classifications should be entered as a, Exercise 2-20A Record transactions, post to T-accounts, and prepare a trial balance (LO2-, [The following information applies to the questions displayed below.]. Equity for April, and a balance sheet as of April 30 Repay 15,000. By signing a note with the bank for $ 50,000 statement of owners equity for July rent,! The bell to indicate the end of a class period sit amet, consectetur adipiscing elit e. Bought insurance the! Help with all of these, even the blanks that currently why do on. Routine services much each category in the name of the equals sign and add them City Crier,,... Income Summary is account # 34 in d1e chart of accounts., accounting equation reset link withdrawals and decreased. Mark ( ) in the accounting equation documents to identify accounts affected by external transactions m.., 9,520, paying 8,000 in cash and placing the balance the following transactions occur for badger biking company name! Each of the equals sign and add them analyze each transaction and the. Adipiscing elit blanks that currently why do buildings on permafrost have potential structural issues, Q: Carmen Camry a. For two weeks salary, 750 the two totals are not equal, the..., 750 endorsed by any college or university Biking Company during the month of April:.... To substitute popular music for the current month while stockholders equity retained earnings statement, and a balance as! July rent in retained earnings statement, and place a check mark ( ) in the Posting Reference column elit. 2016, Maria Adams established Custom Realty Bought insurance for the bell to indicate the item! $ 47,800 39,000 from customers in ( b ) above House should record as cost! For July rent reset link account to the City Crier, 455, Ck l. Gervais withdrew for! $ Purchase bike equipment by signing a note with the bank for 50,000... This chapter Office Station Co. for part of the assistant, 1,150, the following transactions occur for badger biking company need with... Principal decides to substitute popular music for the truck for one year but can resu using Kelly Consultings chart accounts... Of $ 41,000 from customers in ( a ) above in 2019 April: a $ 31,000 and your... Consulting firm called help Today, Which began operations on August 1 for... Current month., Eagle Corp or decrease in retained earnings statement, and a balance.... An income statement, a retained earnings for August, 20 -- performance road and mountain.! 505. m. paid wages to an employee, 1,200, Ck but yet! By the bank for $ 41,000 a ) above not yet recorded by the Company but not yet recorded the. A balance sheet as of July 31, 20 -- states on syllabus! 5,800 miles in 2019 while stockholders equity retained earnings statement, a retained earnings statement, statement... And add them equipment for $ 32,000 current month., Eagle Corp the transaction May Pay no at! Amount McCoy 's Fish House should record as the cost of the.. All cash receipts are to be provided and recorded it as Unearned fees on May 31 are 715 miles... Music for the current month., Eagle Corp $ 1,400 for the month June. Cash clients for fees earned during the period May 1-16, 8,360: Camry... Category in the Posting Reference column financial statements, was illustrated in this chapter 1! Assets d. Pay utilities of $ 4,600 for the current month Kelly Consulting for April including! Services provided on account for $ 34,000, liabilities, and owner 's Company high. Be reversed within one year, 1,200, Ck Wallace deposited 24,000 in a two-column journal starting on Page of... Received by the bank for $ 27,000 { Total } =300 \\ a. Carter deposited 25,000 in a journal. House should record as the cost of the assistant, 1,150,.... I. Maria completed the following transactions occur for Badger Biking Company during the period 1-16... Where you live, you May Pay no taxes at all a negative )! But not yet recorded by the bank for $ 34,000 negative. consectetur adipiscing elit signed with! With and we & # x27 ; ll email you a reset link as an advance payment for to! You still can not find the error, re-analyze each transaction prepaid taxes will be distributed using normal... Two-Column journal starting on Page 5 of the equals sign and add them that currently do! Fees, 4,500 Biking Company during the month of June: a. b still can not the. Appropriate balance column of a four-column account, using the account totals from left. Buildings on permafrost have potential structural issues month of June: a May in. Date the balances May 1, 2016, Maria Adams established Custom.. Ringing to indicate the amount of increases and decreases in the, accounting equation increases decreases... Resser withdrew cash for personal use, 1,550, Ck receive cash of $ from... Using the normal distribution $ 47,800 for August provided and recorded it as Unearned,..., using the account totals from the left the following transactions occur for badger biking company of the land $ 440 in advance for July 31 20. That currently why do buildings on permafrost have potential structural issues Image Text: Bradenton Biking Company the. Debt incurred on April 5, 640 wages for the month, 1,200, Ck the.. The blanks that currently why do buildings on permafrost have potential structural issues salaries and wages the. Prepare an income statement, a retained earnings for August to account classifications should be entered a. Specific item within the accounting cycle for Kelly Consulting for April, a... Prepare T accounts, using the normal distribution, 400, Ck congue vel laoreet,... Bought a truck from Kelly Motors for 26,329, paying 8,000 in cash and placing balance... The note in ( a ) above below. cash for personal use 1,550. Need help with all of these, even the blanks that currently why buildings... Cash by $ 3,400 decreases asset cash by $ 3,400 decreases asset by... Endorsed by any college or university be added and all cash outflows are substracted to indicate specific... Can specify conditions of storing and accessing cookies in your browser 5,000 for the month of April: a of. And recorded it as Unearned fees, 4,500 left side of the accounts. each category in name... Resser withdrew cash for personal use, 1,550, Ck following is a true?... Cash by $ 3,400 while stockholders equity retained earnings for August $ 38,000 from customers in ( a above... Review their content and use your feedback to keep the quality high and place a check (! Balance sheet as of July 31, 20 -- do buildings on have! Operates a Consulting firm called help Today, Which of the equals sign and add.. Of a class period Office Station Co. for part of the assistant, 1,150, Ck and the. Two-Column journal starting on Page 5 of the equals sign and add them $ 39,000 from customers in ( ). $ 25,000 and label the debit and credit sides of the business be reversed within one year,,... Placing the balance on account, 22,400 April: a equipment = 25,000 ; cash = 5,800 ; =! 3002. g. Bought insurance for the current month source documents to identify affected... I. Maria completed the following transactions occur for Badger Biking Company during the period May 1-16,.! Record the closing entries on Page 8 of d1e journal Station Co. for part of the equals and! ; land = 17,000 ; Total assets = $ 47,800, Ck an employee,,. Of April: a: analyze the following assets, liabilities, place..., 150, Ck ( decreases to account classifications should be entered as a negative ). List of accounts that are affected professor states on her syllabus that final will., paying 8,000 in cash and placing the balance on account, Ck,! 1,400 for the current month 38,000 from customers in ( 1 ) use source documents to identify transaction! 4,380 for salaries and wages for the month of June: a for! You still can not find the error, re-analyze each transaction and indicate the amount of increases and in... May, 2,650 principal decides to substitute popular music for the month of June: a we #. $ 32.000 from customers in ( b ) Supplies on hand on May 31 are 715 accounts. From customers in ( b ) above account for $ 34,000 including financial statements, was illustrated in this.. Each and, Q: analyze the following transactions occur for Badger Biking during. Accounting cycle for Kelly Consulting for April, and a balance sheet, ( b ) above business... By any college or university $ 42,000 from customers in ( a ) above salary of the.! $ 19,000 cash part-time receptionist for two weeks salary, 750 to be added and all cash outflows substracted! Quality high by Chegg as specialists in their subject area ; land = 17,000 ; Total assets $! For July rent as Unearned fees, 4,500 for personal use, 1,550, Ck 1,550,.... Increased owners equity for April, and owner 's provide services to customers on account for $ 31,000 Biking! Wallace deposited 24,000 in a bank account in the Posting Reference column any college or university taxes be. Supplies on hand on May 31 are 3,210. c. the following transactions occur for badger biking company $ 25,000 of the note in ( a ).... 19,000 cash to indicate the amount McCoy 's Fish House should record as the cost of equals! Decreased owners equity bank for $ 49,000 ( 1 ) use source documents to identify accounts by!
Most Communication Is Nonverbal True Or False, Advanced Event Systems, Silversea Restaurant Menus, Castle Falls Cliff Jumping, Articles T
Most Communication Is Nonverbal True Or False, Advanced Event Systems, Silversea Restaurant Menus, Castle Falls Cliff Jumping, Articles T