FINAN. AND MANAGERIAL ACCT LL W/ ACCESS
9th Edition
ISBN: 9781265925284
Author: Wild
Publisher: MCG CUSTOM
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Chapter 2, Problem 17E
To determine
Concept Introduction:
Double-entry accounting: This accounting needs the
The balance of each of the given T-accounts.
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Students have asked these similar questions
Fill in each of following T-accounts for Belle Co.'s seven transactions listed here. The T-accounts represent Belle Co.'s general ledger.
Code each entry with transaction number 1 through 7 (in order) for reference.
1. D. Belle created a new business and invested $5,200 cash, $6,800 of equipment, and $13,000 in web servers.
2. The company paid $5,000 cash in advance for prepaid insurance coverage.
3. The company purchased $800 of supplies on account.
4. The company paid $900 cash for selling expenses.
5. The company received $4,500 cash for services provided.
6. The company paid $800 cash toward accounts payable.
7. The company paid $2,500 cash for equipment.
Cash
Equipment
6,800
1.
5,000 2.
900 4.
1.
7.
5.
2,500
800 6.
2,500 7.
End. bal.
End. bal.
9,300
3.
End. bal.
End. bal.
5,200
4,500
500
D.Belle, Capital
Supplies
800
800
On September 1, Pat Hopkins established On a Cloud Corporation (OCC) as a provider of cloud computing services. Pat contributed $14,000 for 1,400 shares of OCC. On September 8, OCC borrowed $34,500 from a bank, promising to repay the bank in two years. On September 10, OCC wrote a check for $25,500 to acquire computer equipment. On September 15, OCC received $1,100 of supplies purchased on account and, on September 16, paid $2,450 for September rent. Through September 22, OCC billed its customers for $12,250 of services, of which OCC collected $6,450 in cash. On September 28, OCC paid $555 for Internet and phone service this month. On September 29, OCC paid wages of $4,300 for the month. Finally, on September 30, OCC submitted its electricity meter reading online and determined that the total charges for the month will be $790. This amount will be paid on October 14 through a preauthorized online payment.
1. Indicate the accounting equation effects of the September events using a table…
Fill in each of following T-accounts for Belle Co.'s seven transactions listed here. The T-accounts represent Belle Co.'s general ledge
Code each entry with transaction number 1 through 7 (in order) for reference.
1. D. Belle created a new business and invested $5,200 cash, $6,800 of equipment, and $13,000 in web servers.
2. The company paid $5,000 cash in advance for prepaid insurance coverage.
3. The company purchased $800 of supplies on account.
4. The company paid $900 cash for selling expenses.
5. The company received $4,500 cash for services provided.
6. The company paid $800 cash toward accounts payable.
7. The company paid $2,500 cash for equipment.
Cash
Equipment
End. bal.
End. bal.
D.Belle, Capital
Supplies
End. bal.
End. bal.
Web Servers
Service Revenue
Chapter 2 Solutions
FINAN. AND MANAGERIAL ACCT LL W/ ACCESS
Ch. 2 - Prob. 1QSCh. 2 - Prob. 2QSCh. 2 - Reading a chart of accounts C3 A chart of accounts...Ch. 2 - Prob. 4QSCh. 2 - Prob. 5QSCh. 2 - Prob. 6QSCh. 2 - Prob. 7QSCh. 2 - Prob. 8QSCh. 2 - Prob. 9QSCh. 2 - Prob. 10QS
Ch. 2 - Prob. 11QSCh. 2 - Prob. 12QSCh. 2 - Prob. 13QSCh. 2 - Prob. 14QSCh. 2 - Prob. 15QSCh. 2 - Prob. 16QSCh. 2 - Prob. 17QSCh. 2 - Prob. 18QSCh. 2 - Prob. 19QSCh. 2 - Exercise 2-1 Steps in analyzing and recording...Ch. 2 - Prob. 2ECh. 2 - Prob. 3ECh. 2 - Prob. 4ECh. 2 - Prob. 5ECh. 2 - Prob. 6ECh. 2 - Prob. 7ECh. 2 - Prob. 8ECh. 2 - Prob. 9ECh. 2 - Prob. 10ECh. 2 - Prob. 11ECh. 2 - Prob. 12ECh. 2 - Prob. 13ECh. 2 - Prob. 14ECh. 2 - Prob. 15ECh. 2 - Prob. 16ECh. 2 - Prob. 17ECh. 2 - Prob. 18ECh. 2 - Prob. 19ECh. 2 - Prob. 20ECh. 2 - Prob. 21ECh. 2 - Exercise 2-20 Identifying effects of posting...Ch. 2 - Prob. 23ECh. 2 - Prob. 24ECh. 2 - Prob. 25ECh. 2 - Prob. 26ECh. 2 - Prob. 27ECh. 2 - Prob. 28ECh. 2 - Prob. 29ECh. 2 - Prob. 1PSACh. 2 - Problem 2-2A Preparing and posting journal...Ch. 2 - Prob. 3PSACh. 2 - Prob. 4PSACh. 2 - Prob. 5PSACh. 2 - Prob. 6PSACh. 2 - Prob. 7PSACh. 2 - Prob. 1PSBCh. 2 - Prob. 2PSBCh. 2 - Prob. 3PSBCh. 2 - Prob. 4PSBCh. 2 - Prob. 5PSBCh. 2 - Prob. 6PSBCh. 2 - Prob. 7PSBCh. 2 - Prob. 2SPCh. 2 - Prob. 1GLPCh. 2 - Prob. 2GLPCh. 2 - Prob. 3GLPCh. 2 - Prob. 4GLPCh. 2 - Prob. 5GLPCh. 2 - Prob. 6GLPCh. 2 - Prob. 7GLPCh. 2 - Prob. 1.1AACh. 2 - Prob. 1.2AACh. 2 - Prob. 1.3AACh. 2 - Prob. 1.4AACh. 2 - Prob. 2.1AACh. 2 - Prob. 2.2AACh. 2 - Prob. 2.3AACh. 2 - Prob. 3.1AACh. 2 - Prob. 3.2AACh. 2 - Prob. 3.3AACh. 2 - Provide the names of two (a) asset accounts, (b)...Ch. 2 - Prob. 2DQCh. 2 - Prob. 3DQCh. 2 - Prob. 4DQCh. 2 - Prob. 5DQCh. 2 - Prob. 6DQCh. 2 - Prob. 7DQCh. 2 - Prob. 8DQCh. 2 - Prob. 9DQCh. 2 - Prob. 10DQCh. 2 - Prob. 11DQCh. 2 - Prob. 12DQCh. 2 - Prob. 13DQCh. 2 - Prob. 14DQCh. 2 - Prob. 15DQCh. 2 - Prob. 1BTNCh. 2 - Prob. 2BTNCh. 2 - Prob. 3BTNCh. 2 - Prob. 4BTNCh. 2 - Prob. 5BTNCh. 2 - Prob. 6BTN
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