XYZ Company provides tree trimming services. They cut down 3 trees in a yard and collected $2500 cash. The journal entry would include: Group of answer choices Credit to revenues of $2500 Credit to cash of $2500 Debit to accounts receivable of $2500.
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- Donato Menorca was a service advisor in a car dealership. He supervised a team of mechanics that keeps and restores the customers’ cars to good operating condition. Tired of being an employee, he decided to put up Express Repair Shop. During the month of January 2020, Menorca completed the following transactions: Started his business by transferring Php 90,000 of his personal money to the business bank account; Paid rent for the month, Php 12,000; Purchased several equipment for Php 40,000; made a down payment of Php 20,000 and arranged to pay the balance the following month; Bought supplies for cash amounting to Php 6,000; Performed services amounting to Php 70,000 of which Php 40,000 was received in cash; Paid the following cash expenses: wages, Php 20,000; utilities, Php 6,000. REQUIRED: Use the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; D. Menorca, Capital; Service Revenue; Wages Expense; Rent Expense; Utilities Expense Record the…On April 5, Timothy established an interior decorating business, Tim’s Design, with a cash investment ofP200,000. Timothy completed the following transactions for April:6 Paid rent for the month, P8,000.7 Purchased from Delta Co. office equipment, P55,0008 Purchased a used car for P180,000, paying P80,000 cash and taking a bank loan for theremainder.10 Purchased supplies and materials for cash, P11,315.12 Received cash from Miss Laura for job completed in her condo, P57,500. Supplies were used upamounting to P8,250.20 Purchased materials and supplies on credit, P15,000.23 Recorded job completed for Ms. Ferrer. Term: on account 10 days, P14,950. Supplies were usedup amounting to P3,500.24 Received an invoice for repairs on car and paid P4,500.25 Paid utilities expense, P1,750.26 Paid P20,000 on the bank loan.27 Received cash from Ms. Ferrer, P10,000.28 Paid salary of worker, P5,00029 Paid Delta a portion of the amount owed for equipment, P5,000.30 Withdrew cash for personal use, P3,500.…On April 5, Timothy established an interior decorating business, Tim’s Design, with a cash investment ofP200,000. Timothy completed the following transactions for April:6 Paid rent for the month, P8,000.7 Purchased from Delta Co. office equipment, P55,0008 Purchased a used car for P180,000, paying P80,000 cash and taking a bank loan for theremainder.10 Purchased supplies and materials for cash, P11,315.12 Received cash from Miss Laura for job completed in her condo, P57,500. Supplies were used upamounting to P8,250.20 Purchased materials and supplies on credit, P15,000.23 Recorded job completed for Ms. Ferrer. Term: on account 10 days, P14,950. Supplies were usedup amounting to P3,500.24 Received an invoice for repairs on car and paid P4,500.25 Paid utilities expense, P1,750.26 Paid P20,000 on the bank loan.27 Received cash from Ms. Ferrer, P10,000.28 Paid salary of worker, P5,00029 Paid Delta a portion of the amount owed for equipment, P5,000.30 Withdrew cash for personal use, P3,500.…
- At the beginning of April, Haron Kadir launched a custom computer solutions company called Softworks. The company had the following transactions during April. April Haron Kadir invested $65,000 cash, office equipment with a value of $5,750, and $30,000 of computer equipment in the company. The company purchased land worth $22,000 for an office by paying $5,000 cash and signing a long-term note payable for $17,000. The company purchased a portable building with $34,500 cash and moved it onto the land acquired on date 2nd. The company paid $5,000 cash for the premium on a two-year insurance policy. The company provided services to a client and immediately collected $4,600 cash. The company purchased $4,500 of additional computer equipment by paying $800 cash and signing a long-term note payable for $3,700. The company completed $4,250 of services for a client. This amount is to be received within 30 days. The company purchased $950 of additional office equipment on credit. The company…At the beginning of April, Haron Kadir launched a custom computer solutions company called Softworks. The company had the following transactions during April. April Haron Kadir invested $65,000 cash, office equipment with a value of $5,750, and $30,000 of computer equipment in the company. The company purchased land worth $22,000 for an office by paying $5,000 cash and signing a long-term note payable for $17,000. The company purchased a portable building with $34,500 cash and moved it onto the land acquired on date 2nd. The company paid $5,000 cash for the premium on a two-year insurance policy. The company provided services to a client and immediately collected $4,600 cash. The company purchased $4,500 of additional computer equipment by paying $800 cash and signing a long-term note payable for $3,700. The company completed $4,250 of services for a client. This amount is to be received within 30 days. The company purchased $950 of additional office equipment on credit. The company…At the beginning of April, Haron Kadir launched a custom computer solutions company called Softworks. The company had the following transactions during April. April Haron Kadir invested $65,000 cash, office equipment with a value of $5,750, and $30,000 of computer equipment in the company. The company purchased land worth $22,000 for an office by paying $5,000 cash and signing a long-term note payable for $17,000. The company purchased a portable building with $34,500 cash and moved it onto the land acquired on date 2nd. The company paid $5,000 cash for the premium on a two-year insurance policy. The company provided services to a client and immediately collected $4,600 cash. The company purchased $4,500 of additional computer equipment by paying $800 cash and signing a long-term note payable for $3,700. The company completed $4,250 of services for a client. This amount is to be received within 30 days. The company purchased $950 of additional office equipment on credit. The company…
- DigiCom repairs laptops. Using the format provided below, show the effects of the activates listed below: Assets = Liabilities + Equity Cash + Accounts Receivable+ Parts supplies + Equipment = Accounts payable + Stacey Comeanu Capital Stacey Comeau, owner of Digicom, invested cash of $29,000 into her business Digicom paid $4,000 to cover rent for the current month Digicom purchased supplies on credit; $1,550 Digicom completed work for a client on credit; $4,900 Digicom purchased a new piece of equipment by paying cash of $2,700 Digicom hired a technician, to start next month, who will get paid $6,500 per month Digicom paid for supplies purchased in c Digicom performed work for client and received cash of $4,900 Digicom paid the administrative assistant salary of $4,200DigiCom repairs laptops. Using the format provided below, show the effects of the activates listed below: Assets = Liabilities + Equity Cash + Accounts Receivable+ Parts supplies + Equipment = Accounts payable + Stacey Comeanu Capital Stacey Comeau, owner of Digicom, invested cash of $29,000 into her business Digicom paid $4,000 to cover rent for the current month Digicom purchased supplies on credit; $1,550 Digicom completed work for a client on credit; $4,900 Digicom purchased a new piece of equipment by paying cash of $2,700 Digicom hired a technician, to start next month, who will get paid $6,500 per month Digicom paid for supplies purchased in c Digicom performed work for client and received cash of $4,900 Digicom paid the administrative assistant salary of $4,200 was wondering if you could provide somehow a journal entry for this exercise thx and also asap plzOn January 2, Dixie, Incorporated, pays a salvage company $1,000 to haul away a machine costing $28,000 with accumulated depreciation of $28,000. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. On January 2, Dixie, Inc., pays a salvage company $1,000 to haul away a machine costing $28,000 with accumulated depreciation of $28,000.
- 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. 15.Paid…Mr. Lopez opened a mini grocery store with the business name Lopez Fiesta Mart. Operations began on January 1, 2021, and the following transactions were completed during the month: 01 Mr. Lopez withdrew PHP 150,000.00 from a personal savings account and used it to open a new account in the name of Lopez Fiesta Mart. 02 Bought grocery supplies on account PHP 10,700.00. 04 Acquired a service vehicle costing PHP 76,000.00. A payment of PHP 25,000.00 Cash was made and a note payable was given for the PHP 51,000.00 remainder payable for 6 equal monthly installments. 06 Purchased merchandise from Puregold PHP 49,500.00, terms 5/10, 3/20. 07 Paid PHP 1,600.00 delivery charge for January 04 transactions. 08 Paid for three months of advertising and recorded Prepaid Advertising in the amount of PHP 6,000.00 11 Sold merchandise on account PHP 42,000.00 with 40% mark-up from the inventory cost of PHP 30,000.00, term 2/10, n/30. 12 Paid PHP 1,200.00…Mr. Lopez opened a mini grocery store with the business name Lopez Fiesta Mart. Operations began on January 1, 2021, and the following transactions were completed during the month: 01 Mr. Lopez withdrew PHP 150,000.00 from a personal savings account and used it to open a new account in the name of Lopez Fiesta Mart. 02 Bought grocery supplies on account PHP 10,700.00. 04 Acquired a service vehicle costing PHP 76,000.00. A payment of PHP 25,000.00 Cash was made and a note payable was given for the PHP 51,000.00 remainder payable for 6 equal monthly installments. 06 Purchased merchandise from Puregold PHP 49,500.00, terms 5/10, 3/20. 07 Paid PHP 1,600.00 delivery charge for January 04 transactions. 08 Paid for three months of advertising and recorded Prepaid Advertising in the amount of PHP 6,000.00 11 Sold merchandise on account PHP 42,000.00 with 40% mark-up from the inventory cost of PHP 30,000.00, term 2/10, n/30. 12 Paid PHP 1,200.00…