Required information[The following information applies to the questionsdisplayed below.]The transactions of Belle Company's appear below.1. D. Belle created a new business and invested $6,400Ocash, $6,000 of equipment, and $12,400 in web servers.2. The company paid $5,300 cash in advance for prepaidinsurance coverage.3. The company purchased $600 of supplies on credit.4. The company paid $800 cash for selling expenses.5. The company received $5,000 cash for servicesprovided.6. The company paid $600 cash toward accounts payable.7. The company paid $3,000 cash for equipment.Fill in each of the following T-accounts for Belle Company'sseven transactions listed here. The T-accounts represent BelleCompany's general ledger. Code each entry with transactionnumber 1 through 7 (in order) for reference.CashEnding balanceEnding balancePrepaid InsuranceEnding balanceEnding balanceWeb ServersAcEnding balanceEnding balanceD. Belle, CapitalServEnding balanceEnding balance 1. D. Belle created a new business and invested $6,400cash, $6,000 of equipment, and $12,400 in web servers.2. The company paid $5,300 cash in advance for prepaidinsurance coverage.3. The company purchased $600 of supplies on credit.4. The company paid $800 cash for selling expenses.5. The company received $5,000 cash for servicesprovided.6. The company paid $600 cash toward accounts payable.7. The company paid $3,000 cash for equipment.Fill in each of the following T-accounts for Belle Company'sseven transactions listed here. The T-accounts represent BelleCompany's general ledger. Code each entry with transactionnumber 1 through 7 (in order) for reference.CashEnding balanceEnding balancePrepaid InsuranceEEnding balanceEnding balanceWeb ServersAccoEnding balanceEnding balanceD. Belle, CapitalServiEnding balanceEnding balanceSelling ExpenseEnding balance

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Description: Required information[The following information applies to the questionsdisplayed below.]The transactions of Belle Company's appear below.1. D. Belle created a new business and invested $6,400Ocash, $6,000 of equipment, and $12,400 in web servers.2.

The T-accounts are prepared as posting the transactions from journal to specific T-accounts of the…

Business

Accounting

displayed below.] The transactions of Belle Company's appear below. 1. D. Belle created a new business and invested $6,40o cash, $6,000 of equipment, and $12,400 in web servers. 2. The company paid $5,300 cash in advance for prepaid insurance coverage. 3. The company purchased $600 of supplies on credit. 4. The company paid $800 cash for selling expenses. 5. The company received $5,000 cash for services provided. 6. The company paid $600 cash toward accounts payable. 7. The company paid $3,000 cash for equipment.

displayed below.] The transactions of Belle Company's appear below. 1. D. Belle created a new business and invested $6,40o cash, $6,000 of equipment, and $12,400 in web servers. 2. The company paid $5,300 cash in advance for prepaid insurance coverage. 3. The company purchased $600 of supplies on credit. 4. The company paid $800 cash for selling expenses. 5. The company received $5,000 cash for services provided. 6. The company paid $600 cash toward accounts payable. 7. The company paid $3,000 cash for equipment.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 19EB: A business has the following transactions: A. The business is started by receiving cash from an...

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Discuss how each of the following transactions for Watson, International, will affect assets, liabilities, and stockholders equity, and prove the companys accounts will still be in balance. A. An investor invests an additional $25,000 into a company receiving stock in exchange. B. Services are performed for customers for a total of $4,500. Sixty percent was paid in cash, and the remaining customers asked to be billed. C. An electric bill was received for $35. Payment is due in thirty days. D. Part-time workers earned $750 and were paid. E. The electric bill in C is paid.
Krespy Corp. has a cash balance of $7,500 before the following transactions occur: A. received customer payments of $965 B. supplies purchased on account $435 C. services worth $850 performed, 25% is paid in cash the rest will be billed D. corporation pays $275 for an ad in the newspaper E. bill is received for electricity used $235. F. dividends of $2,500 are distributed What is the balance in cash after these transactions are journalized and posted?
A business has the following transactions: A. The business is started by receiving cash from an investor in exchange for common stock $10,000. B. Rent of $1,250 is paid for the first month. C. Office supplies are purchased for $375. D. Services worth $3,450 are performed. Cash is received for half. E. Customers pay $1,250 for services to be performed next month. F. $6,000 is paid for a one year insurance policy. G. We receive 25% of the money owed by customers in D. H. A customer has placed an order for $475 of services to be done this coming week. How much total revenue does the company have?
B. Kelso established Computer Wizards during November of this year. The accountant prepared the following chart of accounts: The following transactions occurred during the month: a. Kelso deposited 45,000 in a bank account in the name of the business. b. Paid the rent for the current month, 1,800, Ck. No. 2001. c. Bought office desks and filing cabinets for cash, 790, Ck. No. 2002. d. Bought a computer and printer from Cyber Center for use in the business, 2,700, paying 1,700 in cash and placing the balance on account, Ck. No. 2003. e. Bought a neon sign on account from Signage Co., 1,350. f. Kelso invested her personal computer software with a fair market value of 600 in the business. g. Received a bill from Country News for newspaper advertising, 365. h. Sold services for cash, 1,245. i. Received and paid the electric bill, 345, Ck. No. 2004. j. Paid on account to Country News, a creditor, 285, Ck. No. 2005. k. Sold services for cash, 1,450. l. Paid wages to an employee, 925, Ck. No. 2006. m. Received and paid the bill for the city business license, 75, Ck. No. 2007. n. Kelso withdrew cash for personal use, 850, Ck. No. 2008. o. Kelso withdrew cash for personal use, 850, Ck. No. 2008. Required 1. Record the owners name in the Capital and Drawing T accounts. 2. Correctly place the plus and minus signs for each T account and label the debit and credit sides of the accounts. 3. Record the transactions in T accounts. Write the letter of each entry to identify the transaction. 4. Foot the T accounts and show the balances. 5. Prepare a trial balance, with a three-line heading, dated November 30, 20--.
[The following information applies to the questions displayed below.]The transactions of Belle Company appear below. D. Belle created a new business and invested $6,400 cash, $7,100 of equipment, and $10,400 in web servers in exchange for common stock. The company paid $4,100 cash in advance for prepaid insurance coverage. The company purchased $900 of supplies on credit. The company paid $800 cash for selling expenses. The company received $5,900 cash for services provided. The company paid $900 cash toward accounts payable. The company paid $2,600 cash for equipment. Fill in each of the following T-accounts for Belle Company’s seven transactions listed here. The T-accounts represent Belle Company’s general ledger. Code each entry with transaction number 1 through 7 (in order) for reference.
The transactions of Belle Company’s appear below.D. Belle created a new business and invested $6,700 cash, $7,600 of equipment, and $10,800 in web servers.The company paid $4,000 cash in advance for prepaid insurance coverage.The company purchased $700 of supplies on credit.The company paid $600 cash for selling expenses.The company received $4,500 cash for services provided.The company paid $700 cash toward accounts payable.The company paid $2,900 cash for equipment.Fill in each of the following T-accounts for Belle Company’s seven transactions listed here. The T-accounts represent Belle Company’s general ledger. Code each entry with transaction number 1 through 7 (in order) for reference. CashSuppliesEnding balanceEnding balancePrepaid InsuranceEquipmentEnding balanceEnding balanceWeb ServersAccounts PayableEnding balanceEnding balanceD. Belle, CapitalServices RevenueEnding balanceEnding balanceSelling ExpenseEnding balance
Required information Skip to question [The following information applies to the questions displayed below.] The transactions of Belle Company’s appear below. D. Belle created a new business and invested $6,000 cash, $7,600 of equipment, and $12,000 in web servers in exchange for common stock. The company paid $4,800 cash in advance for prepaid insurance coverage. The company purchased $900 of supplies on credit. The company paid $800 cash for selling expenses. The company received $4,500 cash for services provided. The company paid $900 cash toward accounts payable. The company paid $3,400 cash for equipment. Use above information to prepare general journal entries for Belle Company’s 1 through 7 transactions.
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