H. Record Transactions for Jan 20 Date Transaction 1-Jan Make Initial deposit of $100,000 to checking account 3-Jan Record invoice from Kanya WEST for $1000 5-Jan Purchased Computer from Office Depot on account $3000 10-Jan Provided repair service to ABC for $5000 on account 10-Jan Paid invoice from Kanye West Realty 12-Jan Provided new construction services to DEF on account for $10k 15-Jan Record invoice for legal services $1500 from Pope Pope PLC on account 18-Jan Purchased 1000 bricks from Peter Stones & Bricks at $5 each on account (Hint: create Purchase order and receive item and bill on same day 21-Jan Collected invoice from ABC in full; deposit to Savings 25-Jan Sold 600 bricks to GHI for $10 each on account 30-lan Transfer $25000 from Checking to Savings 1. Submit the following: Trial Balance as of Jan 31, 2023 General Journal for the period Jan 1-31 2023 Inventory Stock Status Report as of Jan 31 2023

H. Record Transactions for Jan 20 Date Transaction 1-Jan Make Initial deposit of $100,000 to checking account 3-Jan Record invoice from Kanya WEST for $1000 5-Jan Purchased Computer from Office Depot on account $3000 10-Jan Provided repair service to ABC for $5000 on account 10-Jan Paid invoice from Kanye West Realty 12-Jan Provided new construction services to DEF on account for $10k 15-Jan Record invoice for legal services $1500 from Pope Pope PLC on account 18-Jan Purchased 1000 bricks from Peter Stones & Bricks at $5 each on account (Hint: create Purchase order and receive item and bill on same day 21-Jan Collected invoice from ABC in full; deposit to Savings 25-Jan Sold 600 bricks to GHI for $10 each on account 30-lan Transfer $25000 from Checking to Savings 1. Submit the following: Trial Balance as of Jan 31, 2023 General Journal for the period Jan 1-31 2023 Inventory Stock Status Report as of Jan 31 2023

Name: 57 H. Record Transactions for Jan 2058 Date5970Transaction1-Jan Make
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Description: 57 H. Record Transactions for Jan 2058 Date5970Transaction1-Jan Make Initial deposit of $100,000 to checking account3-Jan Record invoice from Kanya WEST for $1000715-Jan Purchased Computer from Office Depot on account $3000727374757610-Jan Provided

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter4: Internal Control And Cash

Section: Chapter Questions

Problem 68.3C

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Lavender Company started its business on April 1, 2019. The following are the transactions that happened during the month of April. Prepare the journal entries in the journal on Page 1. A. The owners invested $7,500 from their personal account to the business account. B. Paid rent $600 with check #101. C. Initiated a petty cash fund $250 check #102. D. Received $350 cash for services rendered. E. Purchased office supplies for $125 with check #103. F. Purchased computer equipment $1,500, paid $500 with check #104, and will pay the remainder in 30 days. G. Received $750 cash for services rendered. H. Paid wages $375, check #105. I. Petty cash reimbursement Office Supplies $50, Maintenance Expense $80, Miscellaneous Expense $60. Cash on hand $8. Check #106. J. Increased Petty Cash by $70, check #107.
Hajun Company started its business on May 1, 2019. The following transactions occurred during the month of May. Prepare the journal entries in the journal on Page 1. A. The owners invested $5,000 from their personal account to the business account. B. Paid rent $400 with check #101. C. Initiated a petty cash fund $200 check #102. D. Received $400 cash for services rendered E. Purchased office supplies for $90 with check #103. F. Purchased computer equipment $1,000, paid $350 with check #104 and will pay the remainder in 30 days. G. Received $500 cash for services rendered. H. Paid wages $250, check #105. I. Petty cash reimbursement office supplies $25, Maintenance Expense $125, Miscellaneous Expense $35. Cash on hand $18. Check #106. J. Increased Petty Cash by $50, check #107.
Domingo Company started its business on January 1, 2019. The following transactions occurred during the month of May. Prepare the journal entries in the journal on Page 1. A. The owners invested $10,000 from their personal account to the business account. B. Paid rent $500 with check #101. C. Initiated a petty cash fund $500 with check #102. D. Received $1,000 cash for services rendered. E. Purchased office supplies for $158 with check #103. F. Purchased computer equipment $2,500, paid $1,350 with check #104, and will pay the remainder in 30 days. G. Received $800 cash for services rendered. H. Paid wages $600, check #105. I. Petty cash reimbursement: office supplies $256, maintenance expense $108, postage expense $77, miscellaneous expense $55. Cash on hand $11. Check #106. J. Increased petty cash by $30, check #107.
Inner Resources Company started its business on April 1, 2019. The following transactions occurred during the month of April. Prepare the journal entries in the journal on Page 1. A. The owners invested $8,500 from their personal account to the business account. B. Paid rent $650 with check #101. C. Initiated a petty cash fund $550 check #102. D. Received $750 cash for services rendered. E. Purchased office supplies for $180 with check #103. F. Purchased computer equipment $8,500, paid $1,600 with check #104 and will pay the remainder in 30 days. G. Received $1,200 cash for services rendered. H. Paid wages $560, check #105. I. Petty cash reimbursement office supplies $200, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $93. Check #106. J. Increased Petty Cash by $100, check #107.
Problem 2-62B Comprehensive Problem Mulberry Services sells electronic data processing services to firms too Email to own their own computing equipment. Mulberry had the following amounts and amount balances as of January 1, 2019: During 2019, the following transactions occurred (the events described below are aggregations of many individual events): During 2019, Mulberry sold $690,000 of computing services, all on credit. Mulberry collected $570,000 from the credit sales in Transaction a and an additional $129,000 from the accounts receivable outstanding at the beginning of the year. Mulberry paid the interest payable of $8,000. A Wages of $379,000 were paid in cash. Repairs and maintenance of $9,000 were incurred and paid. The prepaid rent at the beginning of the year was used in 2019. In addition, $28,000 of computer rental costs were incurred and paid. There is no prepaid rent or rent payable at year-end. Mulberry purchased computer paper for $13,000 cash in late December. None of the paper was used by year-end. Advertising expense of $26,000 was incurred and paid. Income tax of $10,300 was incurred and paid in 2019. Interest of $5,000 was paid on the long-term loan. (Continued) Required: 1. Establish a ledger for the accounts listed above and enter the beginning balances. Use a chart of accounts to order the ledger accounts. 2. Analyze each transaction, Journalize as appropriate. (Note: Ignore the date because these events are aggregations of individual events.) 3. Post your journal entries to T-accounts, Add additional T-accounts when needed. 4. Use the ending balances in the T-accounts to prepare a trial balance
PA5. Review the following transactions and prepare any necessary journal entries.A. On July 16, Arrow Corp. purchases 200 computers (Equipment) at $500 per computer from a supplier,on credit. The terms of the purchase are 4/10, n/50 from the invoice date of July 16.B. On August 10, Hondo Inc. receives an advance cash payment from a client for legal services in the amountof $9,000. Hondo had yet to provide legal services as of August 10.C. On September 22, Jack Pies sells thirty pies for $25 cash per pie. The sales tax rate is 8%.D. On November 8, More Supplies paid a portion of their noncurrent note in the amount of $3,250 cash.
Q1: Ahmad started his own Computer service on January 1, 2020. The following transactions occurred during the month of January. January 01 Ahmad invested $ 200000 cash in the business 03 Paid $ 10000 for office rent for the month 05 Service provided on account $ 15000 12 Purchased supplies for $ 3000 on account 15 Received a cash payment of $ 5000 for services provided on January 05 17 Purchased gasoline for $ 2000 on account 23 Received Bank Loan of $ 40000 on the note payable Instructions Show the effects of these transactions on the accounting equation Prepare a balance sheet at January 31, 2020 Date Assets Liabilities Owner’s Equity Cash Accounts Receivable Supplies Note Payable Account Payable James Capital…
II. Accounting Vouchers EntriesEnter the following transactions in the same company created above.(Create ledger accounts wherever necessary)DateTransactions10 – 4 – 2021Mr. Salman invested additional Capital 15,000 to develop his business.18 – 4 – 2021He purchased Phones from Mina Phones for RO 10,000 out of which 60% paid in cash and 40% on credit. (Credit Invoice No. B1)22 – 4 – 2021The owner sold phones to Grand Phones for RO 12,000 (Credit Invoice No.1)25 – 4 – 2021The business returned RO 2,000 worth of phones27 - 4 – 2021Mr. Salman received an invoice for RO 500 from Akbar Travels.This invoice includes RO 200 towards Ticket expense RO 300 towards Dubai trip undertaken by him. (Invoice No. AB1) Term : 10 days29 – 4 – 2021Grand Phones returned RO 800 worth of phones30 – 4 – 2021The owner received cash from Grand phones RO 11,150 in full settlement of their account.
3. Record the following transaction in the appropriate journal, ledger accounts, balance off the accounts and prepare trial balance as at 31 January 2020.Jan 1 Started business with RM2,000 cash5 Purchased goods on credit RM1,00010 Sold goods on credit RM80015 Bought furniture by cash RM40020 Received cheque from debtor RM80025 Cash sales RM20031 Paid salary by cash RM300
PA5. LO 8.5Inner Resources Company started its business on April 1, 2019. The following transactions occurred during the month of April. Prepare the journal entries in the journal on Page 1. The owners invested $8,500 from their personal account to the business account. Paid rent $650 with check #101. Initiated a petty cash fund $550 check #102. Received $750 cash for services rendered. Purchased office supplies for $180 with check #103. Purchased computer equipment $8,500, paid $1,600 with check #104 and will pay the remainder in 30 days. Received $1,200 cash for services rendered. Paid wages $560, check #105. Petty cash reimbursement office supplies $200, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $93. Check #106. Increased Petty Cash by $100, check #107.
Parrish Ch.3 pg. 61 Based on the information below, please complete the following. Thank you Prepare General Journal Entries (Partial Chart of Accounts) Post Journal Entries to the General Ledger 1) 2/01 Elena Martin starts her business , Elana's Nails, on February 1, 2027 by depsoting $5000 of her personal cash into her new business checking account at First Street Bank 2) 2/02 Elena pays one month's booth rent to Insyle salon for $200 cash 3) 2/05 Elena buys supplies for $300 cash 4) 2/07 Elena buys equipment for $400 cash 5) 2/10 Elena has her first customers and they pay her $300 for nail services 6) 2/11 Elena pays $50 cash for a shipment of supplies including a $10 shipping charge
Ex5.22The following transactions of Larson Services Inc. occurred during August 2019, its first month ofoperations.Aug. 1 Issued common stock for $3,000 cash1 Borrowed $10,000 cash from the bank1 Paid $8,000 cash for a used truck4 Paid $600 for a one–year truck insurance policy effective August 1 (record as an asset)5 Collected $2,000 fees from a client for work to be performed at a later date7 Billed a client $5,000 for services performed today9 Paid $250 for supplies purchased and used today12 Purchased $500 of supplies on credit (record as an asset)15 Collected $1,000 of the amount billed August 716 Paid $200 for advertising in The News during the first two weeks of August20 Paid $250 of the amount owing for supplies purchased on August 1225 Paid the following expenses: rent for August, $350; salaries,$2,150; telephone, $50; truck operating, $25028 Called clients about payment of the balances owing from August 729 Billed a client $6,000 for services performed today, including $1,500…