Jan. 1 The business received $34,000 cash and gave capital to Daniel. 2 Purchased medical supplies on account, $17,000. 4 Performed services for patients receiving $1,600. 12 Paid monthly office rent of $3,000. 15 Recorded $7,000 revenue for services rendered to patients on account.
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journal entry for capital bought in will be -
cash or assets account debit XX
capital account credit XX
journal entry for purchases -
purchases account debit XX
cash or accounts payable account XX
journal entry for service performed -
cash or accounts receivable debit XX
service revenue account credit XX
journal entry for payment of rent -
rent expense account debit XX
cash account credit XX.
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- construct the Journal Entry of the transaction: Date/# Account Title Debit Credit Oct-01 Garcia invested P30,000 cash to start his business. 2 Purchased medical Supplies on account, P10,000 2 Paid monthly office rent of P4,000. 3 Recorded P5,000 revenue for service rendered to patients: received cash of P2,000 and sent bills to patients for the remainder. 15 Borrowed P50,000 from the bank, signing a note payable 22 Performed service for patients on account, P3,600 30 Received cash from patients billed on September 3, P2,000 31 Received and paid a utility bill, P200 31 Paid monthly salary to nurses, P3,000 31 Paid interest expense of P200Q4) A) Journalize the following transactions in the books of AHMED for the month of March. 2020 B) Post the transactions given in Section – D to the proper ledger accounts. 2020 March. 1 Introduced cash as capital OMR 50,000. March. 5 Goods purchased on cash for OMR 10,000. March. 8 Purchased furniture on credit for OMR 10,000. March. 10 Paid OMR 2,000 as charity in COVID-19 fund. March. 15 Paid tuition fee for owner’s children from the business bank account OMR 200. March. 18 Paid electricity bill OMR 100. March. 20 Purchased goods from Rashid for OMR 8,000 and paid only 4,000 to him. March. 22 Purchased an extra machine for cash OMR 10,000 March. 25 Paid salaries OMR 500 from the bank account March. 28 Cash sales to Mohammed OMR 1,000.Create a journal entry the following transactions using journal sheets. This informations are complete according to what our teacher asked us to do. Please provide the complete and correct answers. Thank you May 1 Buddy Bungal invested ₱210,000 in Bud's Computer Repair Shop. 2 Purchased repair equipment from Ocean Park for ₱30,000. Check was issued in the amount of ₱18,000 with the balance being placed on account. 8 Repaired a customer's computer billing him for ₱5,000 10 Repaired a customer's computer for ₱8,800 of which 80% was collected with the balance on account. 12 Received andpaid the telephone bill by issuing check in the amount of ₱3,000. 13 Purchased repair supplies by issuing a check in the amount of ₱3,000. 14 Collected the amount due from customer from transaction dated May 8. 18 Hired additional helper for the shop with the salary of ₱5,000 per month 19 Paid ₱9,000 as partial payment for Ocean Park. 20 Repaired customer's computer and collected ₱6,000. 25 Received…
- Requirements: A. Prepare the journal entries for the October Transactions on journal sheets. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment: Accounts Payable; Ruiz, Capital; Ruiz, Drawings; Accounting Service Revenues; Salaries Expense; Rent Expense B. Use separate journal sheets for your answers. Rerey Ruiz had just opened his business for Accounting Services. During the month of October 2020, the following are his transactions: Oct. 01 Rerey Ruiz obtained the funds to start the business by withdrawing P650,000 from his personal savings and deposited the money in the name of the firm, Ruiz Accounting Services. 03 Ruiz bought a computer, a copy machine, a fax machine, calculators and other necessary equipment from M. Mercado, Inc. at a cost of P100,000. M. Mercado Inc. on account. 05 Ruiz placed an order for various supplies that had a total cost P20,000. The entity that sold the items, Cavite Supplies, Inc. requires cash…Journalizing transactions John Daniel opened a medical practice in Sacramento, California, and had the following transactions during the month of January. Journalize the transactions of John Daniel, M.D. Include an explanation with each entry.Journalize the transactions of John Daniel, M.D. Include an explation with each entry Jan 1 The business recieved $34,000 cash and gave capital to Daniel Jan 2 Purchasged medical supplies on account, $17,000 Jan 4 Performed servies for patients receiving $1,600 Jan 12 Paid monthly office rent of $3,000 Jan 15 Recorder $7,000 revenue for sercives rendered to patients on account
- On May 1, 2018, Ma Concepcion Manalo established the Manalo Rehab Clinic. Transactions completed during the month of July follow: a. Manalo deposited P150,000 in a bank account in the name of the business. b. Paid office rent for the month P11,000. c. Bought supplies for cash , P2,750. d. Bought professional equipment on account from J. Perez Equipment, P142,000. e. Bought office equipment from S. Lacorte Computers, P18,700, paying P8,700 in cash and the remaining balance on account. f. Performed professional services for cash, P32,800. g. Paid accounts to S. Lacorte Computers, P5,000 h. Received and paid the bill for the utilities, P2,830 i. Paid salaries of the part-time assistants, P10,000 j. Performed professional services for cash, P37,250 k. Manalo withdrew cash for personal use, P16,000 Record the transactions for the month of July 2018 using a financial transaction worksheet. Use the following accounts: cash, account receivable, professional equipment, office equipment,…Transactions for Joan Jett CPA for the month of October 2020 are presented below. Journalize each transaction in proper format. You may omit journal explanations. Oct 1 Joan invested $42,000 cash to start her business. Oct 2 Purchased land costing $28,000 for cash. Oct 3 Purchased equipment from Staples costing $18,000 for $4,000 cash and the remainder on credit. Oct 4 Purchased supplies on account from ABC Company for $800. Oct 7 Paid $1,200 for a one-year insurance policy. Oct 8 Billed $4,000 for accounting services provided to M. Mott. Oct 9 Received $3,500 cash for services performed. Oct 13 Received $4,000 for services previously performed for M. Mott. Oct 22 Paid wages to employees for $2,800. Oct 31 Additionally, Joan discovers a mathematical error made in 2016 resulting in the understatement of depreciation expense by $35,000.Calculator Print Item Entries into T Accounts and Trial Balance Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice: Transferred cash from a personal bank account to an account to be used for the business, $39,700. Paid October rent for office and workroom, $4,000. Purchased used automobile for $26,000, paying $6,000 cash and giving a note payable for the remainder. Purchased office and computer equipment on account, $7,900. Paid cash for supplies, $1,910. Paid cash for annual insurance policies, $2,700. Received cash from client for plans delivered, $9,900. Paid cash for miscellaneous expenses, $1,080. Paid cash to creditors on account, $2,300. Paid $320 on note payable. Received invoice for blueprint service, due in November, $1,300. Recorded fees earned on plans delivered, payment to be received in November, $6,900. Paid salary of assistants, $2,100. Paid gas, oil, and…
- Make sure all parts are DONE! Reference Photo attached for formating of the general ledger portion Comprehensive Problem For the past several years, Kell Dice has operated a part-time consulting business from his home. As of June 1, 2020, Kell decided to move to rented quarters and to operate the business, which was to be known as Dice Consulting, on a full-time basis. Dice Consulting entered into the following transactions during June. Transactions: June: Kell Dice deposited $55,000 into Dice Consulting as the sole owner. Dice Consulting purchased supplies, $3,500; and office equipment, $17,500 with a 3 year note payable of $10,000 and the remainder in cash. Paid three months’ rent on a lease rental contract, $ 6,000. Paid the yearly premium on property and casualty insurance policies, $3,000. Paid cash for a newspaper advertisement, $120. Received cash from clients as an advance payment for services to be provided…The first project for the semester will involve the following items to turn in: 1) Journal entries for financial transactions I will provide you. 2) An adjusted trial balance. 3) An Income statement. 1) On December 1 of 2019 Harold Hammer deposited $ 15,100 in a bank account in the name of Huaning Corporation in exchange for shares of common stock in the corporation. 2) On December 1 of 2019 Huaning Corporation purchased supplies on account for $ 226 . 3) On December 4 of 2019 Huaning Corporation received cash of $ 384 for product sold to the customer. 4) On December 5 of 2019 Huaning Corporation paid the vendor for the December 1st purchase of supplies. 5) On December 6 of 2019 Huaning Corporation purchases supplies on account for $ 469 .6) On December 8 of 2019 Huaning Corporation sells product for $ 445 on account to a customer.7) On December 9 of 2019 Huaning Corporation sells product for $ 462 on account to a customer. 8) On December 10 of 2019 Huaning Corporation paid, in…Required Journal Entry Mr. Lopez opened a mini grocery store with business name Lopez Fiesta Mart. Operations began on January 1, 2021, and the following transactions were completed during the month: 1.Mr. Lopez withdrew ₱150,000 from a personal savings account and used it to open a new account in the name of Lopez Fiesta Mart. 2.Bought grocery supplies on account ₱10,700. 4.Acquired a service vehicle costing ₱76,000. A payment of ₱25,000 Cash was made and a note payable given for the ₱51,000 remainder payable for 6 equal monthly installment. 6.Purchased merchandise from Puregold ₱49,500, terms 5/10, 3/20. 7.Paid ₱1,600 delivery charge for January 6 transactions. 8.Paid for three months of advertising and recorded Prepaid Advertising in the amount of ₱6,000. 11.Sold merchandise on account ₱42,000 with 40% mark-up from the inventory cost of ₱30,000, term 2/10, n/30. 12.Paid ₱1,200 freight for January 11 transactions. 14.Returned defective merchandise to Puregold amounting to ₱4,500.…