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Teacher Feedback: The issue - did the accountant use the proper form? Review the differences between a sales receipt and a sales invoice.
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- Marked out of 20.00P Flag questionusing the income summary account for the month ofSiren MarketingAdjusted Trial BalanceMay 31, 2022Account TitleCashDebitCredit$8, 600Accounts Receivable$2, 500Prepaid Insurance$2,700 Accounts PayableUnearned RevenueKirk, Capital$1, 200$1, 800$5, 880Kirk, Withdrawals$1,600Service Revenue$8, 620Advertising Expenselnsurance ExpenseRent Expense Total$790$450$860$17,500 $17,500No comma or dollar sign should be included in the imput icklPrepare the closing entries in the proper order. For transactions that have more than 1 debit or more than 1 deditDebitAccount Title and Explanation Date May 31Pg 37 T- Accounts Please find the missing amount on the follwoing T-Account. and explain CLEARLY and indepth (showing formula or method) on how you found the amount. Accounts Payable DRs 6/4 Transaction A 1500 6/8 Transaction C 2000 CRs Beginning Balance 3000 6/6 Transaction B UNKOWN 6/29 Transaction D 3,400 Ending Balance 6,700Beginning Balance (BB) ? $ 8,820 $ 73,500 Ending Balance (EB) 36,260 ? 77,000 Transferred In (TI) 196,500 44,500 ? Transferred Out (TO) 194,700 48,400 183,800 For Case (A) above, what is the Beginning Balance (BB)? Multiple Choice $35,940. $38,300. $39,960. $34,460.
- Question Content Area Gently Laser Clinic purchased laser equipment for $5,305 and paid $863 down, with the remainder to be paid later. The correct entry would be a. Cash 863 Equipment 863 b. Equipment 5,305 Accounts Payable 4,442 Cash 863 c. Equipment Expense 5,305 Accounts Payable 863 Cash 4,442 d. Cash 863 Accounts Payable 4,442 Equipment 5,305 e. Equipment 863 Cash 863On June 30 question attached in ss below thnak you for the help appareicated it 4i2opt24 y2oy4pParts wriiten Subparts to be solve are the ones to be solved Question Requirement 1For each of the following transactions make the required entries in the General Journal:(See the General Ledger tab in the workbook Chapter 03 b - Problem 3-1 Forms for the accounts in OPJ’s accounting system.)Feb 01 Take $4,000 cash out of Big Bank to pay for February’s warehouse rent.Feb 04 Sale of inventory to a customer – selling price $62,000 – cost of inventory sold $16,000 – customer paid cash which was deposited in Big Bank.Feb 07 Take $10,000 cash out of Little Bank to pay employees for wages they have earned.Feb 15 Sale of inventory to a customer – selling price $88,000 – cost of inventory sold $22,000 – customer will pay in the future.Feb 18 Sale of inventory to a customer – selling price $110,000 – cost of inventory sold $28,000 – customer pays $40,000 cash which is deposited in Little Bank – customer will pay for the remaining amount of the sale in 30 days.Feb 22 Purchase additional…
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- Mastery Problem Journalizing transactions and posting to a generalledger LO3, 4, 5, 6Brian Ford owns a service business called Ford Lawn and Garden. FordLawn and Garden's general ledger accounts are given in the WorkingPapers. Transactions:Feb. 1. Received cash from owner as an investment, $11,000.00. R1. 3. Paid cash for supplies, $800.00. C1.5. Received cash from sales, $1,800.00. T5.6. Sold services on account to Clara Walthers, $560.00. $1. 9. Paid cash for rent, $1,200.00. C2.11. Paid cash for miscellaneous expense, $100.00. C3.13. Bought supplies on account from Corner Supplies, $480.00. MI.13. Received cash from sales, $860.00. T13.16. Paid cash for advertising, $286.00. C4. 18. Paid cash on account to Corner Supplies, $280.00. C5.20. Paid cash for electric bill, $460.00. C6.20. Received cash on account from Clara Walthers, $300.00. R2. 25. Paid cash for supplies, $300.00. C7.27. Paid cash for supplies, $160.00. C8. 27. Received cash from sales,$4,200.00. T27.28. Paid cash to…Q4 Company A provides a bundled service offering to Customer B. It charges Customer B $35 000 for initial connection to its network and two ongoing services – access to thenetwork for 1 year and ‘on-call troubleshooting’ advice for that year.Customer B pays the $35 000 upfront, on 1 July 2014. Company A determines that, if it were to charge a separate fee for each service if sold separately, the fee would be:Connection fee Access fee Troubleshooting$ 5 000 $12 000 $23 000The end of Company A’s reporting period is 30 June.RequiredPrepare the journal entries to record this transaction in accordance with AASB 118 for the year ended 30 June 2013, assuming Company A applies the relative fair valueapproach. ShowTO: EAST WEST COLLEGE 3880 29 STREET NE December 5, 20XX CALGARY, Alberta, T1Y6B6 INVOICE 3763 Course Manual SAGE 50 2000 Manuals $15 each $ 30,000.00 GST $ 1,500.00 $ 31,500.00 How To Record In General Journal?