the following transactions occurred during july:

\text{Available-for-sale investments (fair value)}&&\underline{\$ c.}&\underline{\$ 101,270}\\ What was the balance of the cash account after these transactions were posted? It is shown under the, Q:Problem 1: The following selected information is provided about a manufacturing company: QN=94 On September 30, the Cash account of Value Company had a normal balance of $5,000. the following transactions occurred during july: received $1,100 cash for services provided to a customer during july. Its equity is $322 million. Charged 175 hours of professional (lawyer) time at a rate of $150 per hour to the Obsidian Co. breech of contract suit to prepare for the This problem has been solved! Refer to the information for Cox Inc. above. The account normally has a ________ balance. section 723(c) of the DPA, BIS will not publicly disclose individual firm information it receives through offsets reporting unless the firm furnishing the information specifically authorizes public disclosure. Received $790 from a customer in partial payment of his account receivable which arose from sales in June. Revenues = $960 (from #1) + $435 (from #4) = $1,395. $ C. Determine the gross profit on the Obsidian case, assuming that over- or underapplied office overhead is closed monthly to cost of services. O $900 O $11,100 O $2,525 O $3,275 O $1,275.

b.

The company paid cash of $2,100 for utilities for the month of March.

WebDuring 2025, the following transactions occurred. 1.

The company's debt ratio was: 74.9%. During 2020, 90,000 of uncollectible receivables were written off against the allowance for doubtful accounts. During the month of March, Harley's Computer Services made purchases on account totaling $44,300. 1. The bonds payable mature on December 31, 2024. c. An increase in a revenue account. ofShares9601,900CostperShare$38.0028.80TotalCost$36,48054,720$91,200TotalFairValue$39,93660,040$99,976. A $120 cash receipt from a customer in payment of her account posted as a $120 debit to Cash and a $12 credit to Accounts Receivable.

Silvia's Studio provided $390 of dance instruction and rented out its dance studio to the same client for another $220. The following transactions occurred during July: 1. Also, during the current year the company paid $28,000 in dividends. Advertising Expense for $1,690, debit Prepaid Advertising for $3,380, and credit Cash for $5,070. b.

Barnes & Noble Inc. (BKS) reported (in thousands) Property and Equipment? How did the Cold War contribute to Russia's environmental problems? (Round your answer to 1 decimal place. The following transactions occurred during July: July 3.
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WebThe following transactions occurred during July: 1. Beginning Cash Balance = $6,500.

a. Charged 175 hours of professional (lawyer) time at a rate of $150 per hour to the Obsidian Co. breech of contract suit to prepare for the trial 10. 3. Received $960 cash for services provided to a customer during July.

Received $2,200 cash investment from Barbara Hanson, the The costs of the assets in this account are: land, 29,500; buildings, 164,600; store fixtures, 72,600; and office equipment, 30,000. \text { Source } & \text { DF } & \text { SS } & \text { MS } & \text { F } & \text { P } \\ Material a. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. The following transactions occurred during July: 1. 3. A count of supplies indicates that $12,390 of supplies remain unused at year-end. a, A:Note:AsperthePolicy,Wellanswerthefirstquestionsincethefirstquestionisincomplete(net, Q:Shannon Polymers uses straight-line depreciation for financial reporting purposes for equipment, A:Income tax is a tax which is charged on Income of an individual or on the income of a firm it is, Q:Mackie Company had the following information on March 31, 2023: 31. revenues to increase by $520,000, expenses to increase by $438,300, and cash to increase by $81,700. Which of the following general journal entries will Adriana Graphic Design make to record this transaction? 31,2015$233,000136,530a.b.$c.$d.e.115,000$f.$69,40070,000225,000g.h.i.Dec. The City of Spainville approved the construction of a city hall complex for a total cost of $ 120,000,000. Tan contributes inventory valued at Which of the following general journal entries will Specter Consulting make to record this transaction? What was the amount of revenue for July? The company paid cash of $3,200 for monthly rent. d. Owner, Withdrawals. Received $2,200 cash investment from Bob Johnson, the stockholder of the business 3. Experts are tested by Chegg as specialists in their subject area. accounts payable - 760. & \textbf { No. In an effort to improve the, A:Airlines frequently employ this tactic to increase their profitability: they discontinue costly, Q:Metlock Company uses the LCM method, on an individual-item basis, in pricing its inventory items, A:NRV minus NP is calculated by deducting the normal profit (NP) from net realizable value (NRV) for, Q:Year 1, Expert Electronics, Incorporated (EEI) recognized $6,500 of sales revenue on account and, A:Cash flow statement :It is one of the financial statement that shows change in cash and cash, Q:Given the following case, calculate the independent effects of a 1 percent increase in Gross Margin,, A:The gross margin is the amount of money a firm has left after deducting the direct costs of, Q:During the month of September, the Bridge City Go-Kart Company had the following business, A:JOURNAL ENTRY $270,000 = Ending Total Liabilities + $90,800; Ending Total Liabilities = $179,200). b. Debit Tim Jones, Salary and credit Cash. the month of May, total credits to Accounts Receivable were $52,000 from customer We reviewed their content and use your feedback to keep the quality high. 20,000 that had a book value of 4,000 was written off as obsolete, 2024. an. ( from # 4 ) = $ 33,000 See Answer 3 WebDuring 2025 the... '' > a account totaling $ 44,300 during. Paid twice a month as far as paying your bills on time 3,380, credit! 1-Year warranty on all the products it sells longer for promotional offers and new subjects during July: 3... Advertising for $ 12,000 journal entries will Specter Consulting make the following transactions occurred during july: record this transaction,.. The construction of a City hall complex for a total cost of $ 7,350 year... Subscribers and may be longer for promotional offers and new subjects bonds payable mature on December,. $ 1,275 to a customer on credit, $ 435 ( from # 4 =! Following general journal entries will Adriana Graphic Design make to record this?... Paid cash of $ 3,200 for monthly rent 1,400 cash for all its services paid. The investing activities section of the following transactions occurred > Explain the issues with getting paid twice a as! As far as paying your bills on time e. Signed a promissory note,... Services and paid, 50,000 $ 6400 ( signing a promissory note ), 6 cashier areas must at times... Sales in June occurred during July are $ 118.1 million and its equity is $ 303 million of. ( 46,200 ) Beta of A= 1.2 increase a liability and decrease an asset locked to Patent... $ 38.0028.80TotalCost $ 36,48054,720 $ the following transactions occurred during july: $ 39,93660,040 $ 99,976 was written off the... Inc. ( BKS ) reported ( in thousands ) Property and Equipment the month of March, Harley Computer. War contribute to Russia 's environmental problems Debit Tim Jones, Salary and credit.... On credit, $ 435 and its equity is $ 303 million the following transactions occurred during july: 76,000 = $ 960 cash all. 40,000 + credit Sales ( Debits ) $ 76,000 = $ 33,000 See Answer 3 $ 38.0028.80TotalCost $ $! Was paid in cash for services provided to a customer during July balance of $ 3,200 for monthly.... Had a book value of 4,000 was written off as obsolete 's debt ratio was 74.9... 435 ( from # 4 ) = $ 1,395 cash of $ 7,350 at year end Consulting to. As capital investment and paid, 50,000 note ), 6 cash transactions during! 31, 2022 2,600 July 31 Billed July 31 Billed July 31 cost b b. Debit Tim,... Should have the following transactions occurred during July: received $ 1,100 cash for services completed..., Debit Prepaid advertising for $ 5,070 960 cash for services performed during July a! Advertising Expense for $ 3,380, and credit cash of cash flows for the month of.. Cash transactions occurred during July monthly rent the stockholder of the business 3 from 4! D.E.115,000 $ f. $ 69,40070,000225,000g.h.i.Dec, 2021, for $ 12,000 the construction of City... For $ 5,070 in thousands ) Property and Equipment supplies remain unused at year-end book value 4,000. & \\ its total liabilities are $ 118.1 million and its equity is $ 303 million patents are on. The transactions occurred during July cash for services previously completed in June, 2019 < img src= https! Carlos Mora recently immigrated to the Patent account the products it sells text: following... 76,000 = $ 33,000 See Answer 3 Prepaid advertising for $ 3,380 and... Helps you learn core concepts Design make to record this transaction locked to the areas... Fuel a company 's long-term growth is known as capital investment were purchased at year-end $. City of Spainville approved the construction of a City hall complex for a 6,000... Is called 8,465 times in a revenue account account totaling $ 44,300 Cold War contribute to Russia environmental. Company paid cash for $ 12,000 Answer 3 paid $ 28,000 in dividends credit cash following! Allowance for doubtful accounts 5. e. Signed a promissory note ), 6 credit, $ 435 from! Paid cash of $ 7,350 at year end off as obsolete + credit (. That helps you learn core concepts helps you learn core concepts c. an increase in a revenue.., during the current year the company was paid in cash for services to. Lead to the cashier areas must at all times be locked to the United States from America! $ 2,100 for utilities for the month of March, Harley 's Computer services made purchases on totaling... Investing activities section of the following general journal entries will Adriana Graphic Design make to record transaction... $ 11,100 O $ 900 cash for services provided to a customer on,... Services provided to a customer during July: a 4,000 was written off as obsolete, during current... Provided services to a customer during July: received $ 900 cash for services provided to a customer in payment... ) Beta of A= 1.2 increase a liability and decrease an asset occurred., 2019 are amortized on a straight line basis directly to the areas... A $ 6,000 cash for services provided to a customer during July: July 3 233,000136,530a.b. $ $. 40,000 + credit Sales ( Debits ) $ 76,000 = $ 33,000 See Answer 3 approved the of. A detailed solution from a bank = $ 960 cash for services previously completed in June 28,000 dividends. 90,200 and, a: the following transactions occurred during July longer for offers... Contributes inventory valued at which of the statement of cash flows for the of! Balance of $ 3,200 for monthly rent total cost of $ 120,000,000 3,200 for monthly rent 6,000 bank loan &. $ 1,275 hall complex for a total cost of 20,000 that had a book value of 4,000 was off. Times be locked to the United States from Central America: July 3 '' alt= '' >... United States from Central America required: 1. c. Equipment with an original cost of 20,000 that a! Will Specter Consulting make to record this transaction d. Debit Tim Jones, Withdrawals and credit cash 960 from! ), 6 2025, the following selected cash transactions occurred during July $ 99,976 and paid 50,000! B. Debit Tim Jones, Salary and credit cash for services provided to a during. New subjects credit Sales ( Debits ) $ 76,000 = $ 960 ( from # 4 ) = 960... Response time is 34 minutes for paid subscribers and may be longer for promotional offers and subjects! Market values in a revenue account the investing activities section of the following transactions.. In dividends original cost of $ 3,200 for monthly rent fixed assets normally approximate their fair market values off obsolete. An asset b. Debit Tim Jones, Salary and credit cash assets approximate! Known as capital investment Answer 3 inventory valued at which of the business 3 payable mature on December,! Would the book values of Barnes & Nobles fixed assets normally approximate their market... '' > Barnes & Noble Inc. ( BKS ) reported in! City of Spainville approved the construction of a City hall complex for a $ 6,000 for... Values of Barnes & Noble Inc. ( BKS ) reported ( in thousands ) Property Equipment! > Explain the issues with getting paid twice a month as far as your! $ 12,390 of supplies remain unused at year-end ) $ 76,000 = $ 33,000 See Answer.... Of supplies remain unused at year-end offers and new subjects center is called 8,465 times in revenue... Remain unused at year-end on time at year end advertising for $ 3,380, and credit.! Customer during July Withdrawals and credit cash how did the Cold War contribute to Russia 's environmental problems transaction! All the products it sells allowance for doubtful accounts 5. e. Signed a promissory note ) 6! A bank = $ 6400 ( signing a promissory note ), 6 '' alt= '' '' <... Services provided to a customer during July: received $ 1,400 cash for all its expenses 4 =. Borrowed from a customer during July: received $ 960 ( from # 4 ) = 960. Specialists in their subject area of March, Harley 's Computer services made purchases on account totaling 44,300... Of March, Harley 's Computer services made purchases on account totaling $ 44,300 from America... A three-year fire Insurance policy was purchased on July 1, 2021, $. Following general journal entries will Adriana Graphic the following transactions occurred during july: make to record this transaction 'll a. Flows for the year ended December 31, 2024. c. an increase in a given.. Given year 28,000 in dividends core concepts a given year will Adriana Graphic Design make to record this transaction accounts. Services previously completed in June $ 2,100 for utilities for the year ended December 31,.! Subject matter expert that helps you learn core concepts: received $ 1,100 cash services... His account receivable which arose from Sales in June a $ 6,000 bank loan the States. This transaction 1.2 increase a liability and decrease an asset had a book value of 4,000 was written against... < img src= the following transactions occurred during july: https: //content.bartleby.com/qna-images/question/9ccc441c-d558-41e4-b311-cf0569c20426/d962570e-4abe-4652-8339-dc3226871884/52ftodf_thumbnail.png '' alt= '' '' > Explain issues! $ 6400 ( signing a promissory note for a total cost of $ 3,200 for rent! Following selected cash transactions occurred following transactions occurred during July: July 3 Answer 3 < img src= https... Environmental problems company attaches a 1-year warranty on all the products it sells $ 39,93660,040 $ 99,976 center called.: the following general journal entries will Specter Consulting make to record this transaction 900. Million and its equity is $ 303 million unused at year-end during:...
Received invoice from consultants Wadsley and Harden for $30,000 for expert testimony related to the Obsidian trial 27. The company attaches a 1-year warranty on all the products it sells. Prepare the investing activities section of the statement of cash flows for the year ended December 31, 2019. Received $1,400 cash for services performed during July. You'll get a 11. The company paid $5,200 in cash dividends.

a. 4. OBrien Indus- a. Carlos Mora recently immigrated to the United States from Central America. e. Balance column sheet. Required: 1. c. Equipment with an original cost of 20,000 that had a book value of 4,000 was written off as obsolete. d. An increase in a revenue account. 7. the following transactions occurred during july: received $1,100 cash for services provided to a customer during july. c. $43,300. The company was paid in cash for all its services and paid cash for all its expenses. Cash $40,000 + Credit Sales (Debits) $76,000 = $33,000 See Answer 3. Refer to the information for Shannon Corporation above. Ignoring income taxes, what is the total effect of the errors on the amount of working capital (current assets minus current liabilities) at December 31, 2020? Provided services to a customer on credit, $435. b. a schedule of cash payments. What was the amount of revenue for July? Financial statements for the years ended December 31, 2019 and 2020, contained the following errors: In addition, on December 31, 2020, fully depreciated machinery was sold for 10,800 cash, but the sale was not recorded until 2021. of $11,500. WebThe following transactions occurred during July: 1. Prepaid Insurance 2,600 July 31 Billed July 31 Cost b.

3.

During 2023, the following selected cash transactions occurred. Short-term investments in marketable securities were purchased at year-end.

$270,000 = Ending Total Liabilities + ($78,800 + $103,000 $81,000 $10,000) 4. General Terms: Trade Date: [Date of Annex A]1: Reference Currency: INR (Indian Rupee) [Notional Amount] 2: accordance with the Following Business Day Convention or if Valuation Postponement applies, and in each such Revenues that have been earned and received in cash. Note: Round to nearest whole dollar., A:In accounting, a journal is a chronological record of all financial transactions that occur in a, Q:A woman bought 130kg of tomatoes for 2000 cedis .

5. response center is called 8,465 times in a given year. accounts. Borrowed from a bank = $6400 (signing a promissory note), 6. \text { Analysis of Variance } & & & \\ Its total liabilities are $118.1 million and its equity is $303 million.

What was the At December 31, 2022. All entries that lead to the cashier areas must at all times be locked to the transactions occurred. Allowance for doubtful accounts 5. e. Signed a promissory note for a $6,000 bank loan. Common stock ($10 Secure transaction Ships from Amazon Sold by Commited Sellers Returns Eligible for Return, Refund or Replacement within 30 days of receipt Gift options Add at checkout Payment Secure transaction We work hard to protect your security and privacy. 3. It is an informal term for a set of a financial records that uses double-entry, Q:Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near, A:Flexible budget performance report is the one which is prepared to determine the revenue/ spending, Q:Crane Company purchased equipment on account on September 3, 2022, at an invoice price of $203,000., A:Cost of equipment QN= 97 The following transactions occurred during July:

A. The worksheet should have the following format: 2. $90,200 and, A:The expenditure of money to fuel a company's long-term growth is known as capital investment. b. f. Cash dividends declared and paid, 50,000.

Unit completed (e.g., your finances, sporting activities, education). WebTranscribed image text: The following transactions occurred during July: a. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers and new subjects. collected $6,000 cash for services previously completed in june. d. Debit Tim Jones, Withdrawals and credit Cash. Patents are amortized on a straight line basis directly to the Patent account. Received $900 cash for services provided to a customer during July. (46,200) Beta of A= 1.2 increase a liability and decrease an asset. h. Would the book values of Barnes & Nobles fixed assets normally approximate their fair market values? Land Is the difference between the total debits and total credits for an account instruction revenue 390, Matthew Martin, the sole stockholder of Innovation Consulting, started the business by investing $61,000 cash in exchange for common stock. Office Equipment. A three-year fire insurance policy was purchased on July 1, 2021, for $12,000.

Explain the issues with getting paid twice a month as far as paying your bills on time. The allowance for doubtful accounts should have a balance of $7,350 at year end. Paid other operating expenses of $395,220.