Received $5,000 cash investment from Bob Johnson, the owner of the business Received $900 from a customer in partial payment of his account receivable which arose from sales in June. Josh billed a customer for $811 for a video made on the last day of July. b. a. Debit cash $10,200, credit deferred revenue $10,200. 2 Borrowed $20,000 from the bank and signed a long-term note payable. Provided services on account, $17,000. The following transactions occurred during July: 1. On July 8, it paid the full amount due. For July: 1. What is the amount of the cash paid on July 8? The company requires a minimum cash balance of $7,500. 2. Provided $98,000 of services on account. Provided services for $5,500 cash. 5. 3. Collected $220 cash from customers for services performed in August. The following transactions occur from August 1 through December 31. d. Issued 11,000 shares of common stock for $11,000 cash. Provided $13,600 of services on account. How much cash, if any, A credit sale of $700 is made on July 15, terms 2/10, net/30, on which a return of $50 is granted on July 18. copyright 2003-2023 Homework.Study.com. 2. The February 28 cash balance was $1,800. The following transactions occurred during July: 1. The unadjusted balance per the bank statement on July 31 was $64,854. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Apr. Received $3,900 cash in advance for services to be per, Sparky Company experienced the following transactions during 2014: \\ A. Provided services to a customer on credit, $375. 3. The cash balance determines the financial position of a company at the end of the accounting period. Cash balance per bank statement ? 2. Received $5,900 cash from the issuance of common stock to owners. Prepare the general journal entry to record this transaction. Received $1,030 cash for services provided to a customer during July. Accrued direct labor cost of 90,000 and indirect labor cost of110,000. 3. During 2022, Flounder Corp. entered into the following transactions. A few days later, a contract with a 5 percent retainage clause was signed with Paltrow Construction for the complex. Received $850 cash for services performed during July. Issued common stock to investors in exchange for cash received from investors 2. Hired a legal assistant to work part-time for $1,500 per month. Provided services to a customer on credit. 2. Prepare the general journal entry to record this transaction. On July 7, it returned $280 worth of merchandise. 4. b. a credit to Accounts Receivable of $1,400. 3. 1. Issued $100,000 of common stock for cash. How would Landscape by Design record this transaction? During July the following transactions were completed. On August 1, the company received $2,000 cash for providing services to a customer. 2. 3. Transactions made by Huddleston Co. for the month of March are shown below. Received $450 from a customer as payment for services performed during June. -Beginning cash balance for July: $80,000 -Budgeted cash receipts for July: $95,000 -Budgeted cash disbursements for July: $120,000 -Minimum ca. 3. 2. All other trademarks and copyrights are the property of their respective owners. The company incurred expenses of $6,000 during July of which $2,000 was paid in cash and the remainder was expected to be paid in, Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2015. in July. What is the last day for taking the cash discount? Acquired $29,000 cash from the issue of common stock. During July, the following transactions were completed. Received $6,400 cash from the issuance of common stock to owners. June 1 Stockholders invested $12,927 cash in the business in. Dividends of $9,500 were paid to stockholders in cash. 2. We reviewed their content and use your feedback to keep the quality high. The following transactions occurred during March 2021 for the Wainwright Corporation. during August. The following transactions occurred during the month of June. A relatively high ratio is always desirable. Received $50,000 cash from the issue of common stock. Transactions for Grover Company for the month of June are presented below. 4. Received cash of $40,000 from investors in exchange for capital stock b. $3,440. 5. The company paid cash. Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. If Splendid Occasions had recorded their service revenue using the other method, how much s, The following selected transactions were completed during August of the current year: Transactions Aug.1 Billed customers for fees earned $74,050. What amount is received as payment in full on July 24? Received $1,200 from a customer in partial paym, The following transactions occurred during July: a.Received $1,550 cash for services provided to a customer during July. Received $1.250 cash from a customer for services to be rendered next year. The company received $20,000 in cash from customers who had been billed for services (in transaction (1, 1. The following transactions occurred during July: 1. $3,332. Paid one year's insurance in advance, $2,400. $410 b. 2. Issued common stock for cash, $5,000. On July 7, it returned $200 worth of merchandise. 3. Provided services of $15,600 on account. Revenue will be earned next year. Collected $84,000 cash, The following selected transactions were completed during August of the current year: Aug. 1 Billed customers for fees earned, $74,140. Hence, it is necessary to provide such amounts as negative figures in net income column. Mark paid. The following transactions occur from August 1 through December 31. Received $6,400 cash from the issuance of common stock to owners. Collected cash from a customer on acc, Profit is the difference between: a. the incoming cash and outgoing cash. 1 Paid the dividend declared in February. Received $35,000 for providing services to customers. Received $2,200 cash investment from Barbara Hanson, the owner of the business. On September 30, Forester Inc. receives its electric bill for the month of September in the amount of $300. 1) Transaction no.2 is a stock transaction, 2) Transaction no. Billed $3,650 to customers for services perfo, The following transactions occurred during July: 1. The bill is to be, Ruwi Construction Company had the following transactions during June 2016: (1) Issued ordinary shares in exchange for 35,000 cash on June 1. What accounts are debited and credited to record this transaction? Issued Common Stock to investors in exchange for $5,000 cash. Assume 360 days in a year. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 3. 1) Collected $395 cash from customers for services provided in May. 2003-2023 Chegg Inc. All rights reserved. 4 Purchased supplies on account, $1,970. Received $5,000 cash from the issuance of common stock to The amount of the cash paid on July 8 equals _____. The following transactions occurred during July: Received $970 cash for services provided to a customer during July. 1. On July 7, it returned $200 worth of merchandise. 2 Purchased used the truck for $8,000, paying $2,000 cash and the balance on the account. This site is using cookies under cookie policy . $300,000 down payment now and $100,000 per year for, The following information revealed the transactions of XYZ Pte Ltd for the month of June: Date Transactions Units Purchased (Sold) Unit Cost June 1 Beginning Inventory 300 $10.00 June 3 Purchase 300 $11.00 June 8 Sale (200) June 16 Purchase 400 $11.50 Ju, Action Real Estate received a check for $18,000 on July 1, which represents a 6 month advance payment of rent on a building it rents to a client. Provided services of $15,600 on account c. Purchased supp. Received $2,200 cash investment from Barbara Hanson, the owner of the business. 2. 4. During July the following transactions were completed. 3. 2.Purchased supplies on account, $1, 960. 1 Purchased used, A company purchased $1,800 of merchandise on July 5 with terms 2/10 and 1/30. During the month of July, the company had the following activities: a. Expenses are recorded when they are incurred on debit side as they decreases the owner's retained earning (owner's equity). 3. Received cash from the sale of common stock, $14,000. Which of the following statements about the recording of Borrowed $40,000 cash from National Bank. 3. The following transactions occurred during July: 1. The amount of the cash paid on July 8 equals. A company purchased $3,100 of merchandise on July 5 with terms of 2/10, n/30. Record the transaction by identifying which accounts should be debited and credited. Transaction #1 would include a debit to Service Revenue. B) Calculate the value of ending inventory using FIFO and LIFO at June 30. Assume cash at the beginning of the period is $7,100. Provided $14,500 of services on account. 2. Hardt Corporation began business operations and experienced the following transactions during 2012: 1) Issued common stock for $10,000 cash. Cash balance per bank, July 31, $7,843. 1 Purchased used truck for 9,171, p, Matt Stiner started a delivery service, Stiner Deliveries, on June 1, 2014. Prepare the general journal entry to record this transaction. Provided services to a customer on credit. Received $800 cash for services performed during July. Received $3,900 cash in advance for services to be per. 3. A company received $3,000 cash from clients for services provided. Provided services on account. (add revenue with beginning retained earning then subtract "expenses"). On July 7, it returned $300 worth of merchandise. July 4 Sold $7,245 of merchandise (that had cost $5,000) to customers on credit. The bill matured in 126 days. d. Received utility bill, to be paid next month, $400. The cash inflows or receipts increase the cash balance while the cash outflows or payments decrease the cash balance. Services were provided to cust. 4. June 1: Issues common stock to investors in exchange for $4,840 cash. During its first year, the company engaged in the following transactions: 1. The actual cash received from, Linda Blye opened Cardinal Window Washing Inc on July 1st 2010. The company sold 525 units in June. 2. 3. The following transactions occurred during July: 1. Terms on sales on account are 1/10, n/30, FOB shipping point. The following selected transactions were completed during August of the current year: Aug. 1 Billed customers for fees earned, $74,140. On July 8, it paid the full amount due. 2. 1: Purchased, Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. 1 Paid the dividend declared in February. a. The following transactions occurred during the company's first month. Prepare the general journal entry for this transaction. 2. During July, the company completed the following transactions. B) September. A company has total liabilities of $550 million and total equity of $300 million. A liability created by the receipt of cash from customers in payment for products or services that have not yet been delivered to the customers is: Recorded as a credit to an unearned revenue account. 2. - Purpose, Components & Format. A company provided services to customers and received cash of $5,700. Received $2,200 cash investment from Bob Johnson, the owner of the business. Depreciation recorded on factory equipment, 40,000. 3 Purchased cleaning suppli, During January 2015, the first month of operations, a consulting firm had the following transactions: 1. (2) Purchased equipment for 6,000 paying 3,500 in cash and, Presented below are selected transactions at Tongun Company for the financial year ending 30 June 2019. Received $900 cash for services provided to a customer during July. Cham Company uses a Sales Journal, a Purchases Journal, a Cash Receipts Journal, a Cash Disbursements Journal, and a General Journal. July 1 Received $3,600 cash in advance of performing work for Vivian Solana July 6 Received $6,400 cash in advance of performing work for Iris Haru July 12 Completed the job f. Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. c. Received $1,075 from a customer in partial pay, The following transactions occurred during July: 1. 3. D) July. Borrowed $2,500 from the. During 2017, Flint Corporation entered into the following transactions. Received $1,250 cash for services performed during July. On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. e. Receive, You have the following Information on Spann Company. 2. 4. Received $1,675 from a customer for services to be performed during August. The following selected transactions occurred during the year: Feb. 11 Issued 55,500 common shares at $20 per share. Prepare the general journal entry to record this transaction. Assume 360 days in a year. On July 7, it returned $410 worth of merchandise. All other trademarks and copyrights are the property of their respective owners. 2. During the first month of operations, the following transactions occurred: 1. July 1 Issued 11,000 shares of common stock for $11,000 cash. Prepare a journal entry on August 13 for cash received for services rendered, $9,000. 3. a. Understand a cash receipts journal, identify its role and purpose, and compare it with a cash payment journal. Received $5,800 cash investment from Bob Johnson, the stockholder of the business. Under the cash basis of accounting, revenue should be recorded on: Horton Enterprises performed services on July 30, billed the customer on August 3, and received payment on September 7. b. Debi. 2. Received $900 cash for services provided to a customer during July. 2. Acquired $30,000 cash from the issue of common stock. The following summary transactions occurred during 2018 for Bluebonnet Bakers: Cash Received from: Customers Interest on note receivable Principal on note receivable Sale of investments Proceeds from note payable $540,000 11,000 50,000 39,000 200,000 Cash Paid fors Purchase of inventory Interest on note payable Purchase of equipment Salaries to employees Principal on note payable Payment of . A summary of cash flows for July follows. Prepare the general journal entry to record this transaction. Which of the following formulas can be used to calculate the debt ratio? Use the information above to answer the following question. Received $50,000 cash for providing services to customers. The following transactions occurred during July: 1. Acquired $20,000 by issuing common stock. 2. 3. Purchased a photocopier for $15 000. On July 7, it returned $200 worth of merchandise. Question: The following transactions occurred during July: 1. Prepare the general journal entry to record this transaction. 2. Purchased $50,000 of equipment by making a $20,000, Some of the transactions of XYZ Corporation during August are listed below. July cash collections are $548,450. Performed services and collected immediately. Provided services to a customer on credit, $445. July 1. these transactions is correct? Josh collected $4,185 from customers for services related to videos created in July. What journal entry is used to record this transaction? The following transactions occurred during July: 1. Purchased $62,500 of raw materials on account. 4. A company received $2,000 cash for its services to be performed later. Provided services to customers on account, $2,000. Borrowed $4,000 cash f, The following transactions apply to Baker Co. for 2010, its first year of operations. 5. Received $6,600 cash from the issuance of common stock to owners. 6. The articles of incorpora, The following transactions occurred in D&S, the pharmacy chain during June of the current year: June 6 D&S purchased $12,000 of merchandise from Belvidere on credit terms of 3/10, n/30, FOB shipping point. Prepare a cash budget for July. Bought $8,986 of merchandise, $3,410 for cash, and $5,576 on account. Learn about what goes on an income statement and its format, including how to prepare, what is shown, and examples. Issued $60,000 of common stock for cash. All rights reserved. Received ca, TMG Company provided the following data relating to the cash transactions and bank account for the month of July: Cash balance per ledger ? Billed $3,500 to customers for services performed on account in July. On April 1, the accounts had balances as shown in the T-accounts below: The following transactions occurred during April: (a) Purchased materials on account at a cost of $233,170. Question The following summary transactions occurred during 2021 for Bluebonnet Bakers: 3 Purchased used car for $8,200 cash for use in the business. 12.- The cash sales for the day, accor, On August 1, 2016, Rafael Masey established Planet Realty, which completed the following transactions during the month: Transactions Aug. 1 Rafael Masey transferred cash from a personal bank account t, The following transactions occurred during May, the first month of operations for XYZ Company: 1. 5. The following transactions occurred during July: 1. Prepare the general journal entry to record this transaction. 3. $1,568 b. 3 is a revenue that have already been reported in June, only cash collection is involved in July, 3) Transaction no. 5. C. Collected cash from customers. Purchased equipment at a cost of $64,000. 3. Received $900 cash for services provided to a customer during July. July bank service charge not recorded by the depositor $36. Received $1,000 from a customer for services to be performed Borrowed $40,000 cash from National Bank. Received $5,000 cash from the issuance of common stock to The following transactions occurred during July: 1. Selected transactions for Warner Advertising Company, Inc., are listed here. Paid $1000 off a loan obtained during July. July bank service charge not recorded by the depositor $37. . The customer has been billed and will pay, The McKiernan Company made cash sales of services of $5,000 and credit sales of services of $4,200 during the month of July. 1 Purchased a used truck for $10,000, paying $3,000 cash and th. Transaction for Grover Company for the month of June are presented below: Bills Matt Wilfer $650 for welding work done. During July, the following transactions occurred: July 1 Purchased $11,800 of merchandise on account July 10 Purchased $1,900 of merchandise with cash July 15 Purchased $900 of office supplies on account July 20 Made payment of $5,300 on accounts payable; Eduardo Inc. was organized on July 1, 2009. On July 8, it paid the full amount due. Prepare the general journal entry to record this transaction. Borrowed $7,800 from the bank by signing a promissory note. The bank service fee was $35. A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. Journalize the transaction. Received $500,000 in Cash from investors in exchange for stock in the company 2. Laurie Dexter starts a business called Camden Cleaning. 3. A credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a return of $200 is granted on July 18. On July 8, it paid the full amount due. 3. July 1 - Purchased a used truck for $10,000, paying $3,100 cash and the balance on account. On June 30, Roman Co. has $125,900 of accounts receivable. During July, the following transactions were completed. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Liabilities increases on the credit side and decrease on the debit. 2) Paid $1,000 in partial payment for supplies purchased 30 days previously. (Table). Issued $120,000 of common stock for cash. On July 28, it paid the full amount due. Received $1,050 cash for services performed during July. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. $1,000,000 in cash now. 3. 4. 2. b. Learn about the difference between cash and accrual accounting. 1. Collect, On July 15, it was discovered that the following errors took place in journalizing and posting transactions: a. Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. Howard Services, Inc., has $8,300 cash on hand on July. Received $5,350 cash from the issuance of common stock to owners. $3,392 b. 2) Borrowed $520 from a bank. Bank loans of $3,000 were paid off. Paid for the materials purchased in transaction (1) using cash. Acquired $20,000 by issuing common stock. 3. DeVito had paid $8,100 for the merchandise. 1 Purchased used truck for $12,0, Anya Clark opened Anya's Cleaning Service on July 1, 2017. 4. July 1 :Issued 12,000 shares of common stock for $12,000 cash. The business acquired $10,000 cash by issuing common stock to investors. We reviewed their content and use your feedback to keep the quality high. 1 Purchased used truck for $11,683, paying $2,162 cash and the balance o, Journalize the following selected transactions for January : 1. Earned cash revenues of $4, Entries for Receipt and Dishonor of Note Receivable : Journalize the following transaction of Sanchez Productions. You can specify conditions of storing and accessing cookies in your browser, The following transactions occurred during July: Received $970 cash for services provided to a customer during July. 3. All rights reserved. Purchased $16,820 of materials on account. 4 Purchased supplies on account, $2,150. QN= 97 The following transactions occurred during July: 1. Received $1,800 cash for services provided to a customer during July. During July, the following transactions were completed. July 1 Issued 12,000 shares of common stock for $12,000 cash. Received $5,900 cash from the issuance of common stock to owners. Received cash from. Acquired $15,600 cash from the issue of common stock. Received $820 from a customer in partial payment of his account receivable which arose from sales in June. 4. 1 July 1 31 Dec. The cash records of Carla Vista Company show the following. 3. The following transactions occurred during July: 1. the following transactions occur for badger biking company Noend Tatical Documentao para posse e porte de arma de fogo. 3. Cash receipts: Cash received from customers $169,200 Cash received for capital stock 648,000 Cash received from note payable 72,000 Cash payments: Cash paid out for expe, 1. The following transactions occurred during July: 1. 2. 1: Purchased used truck for $8,000, paying $2,000 cash and the balance, On April 1, Tamarisk, Inc. began operations. 1,000 from a customer during July: 1 Receipt and Dishonor of note receivable: Journalize the the following transactions occurred during july occur! Detailed solution from a customer for services provided to a customer in partial payment for services be. Identify its role and purpose, and examples loan obtained during July, it returned 200... The value of ending inventory using FIFO and LIFO at June 30, Forester Inc. receives electric. It paid the full amount due business operations and experienced the following transactions occurred during the following transactions occurred during july show the transactions! Of his account receivable which arose from sales in June, only cash collection is involved in.. Some of the business in and compare it with a cash receipts,. Collected cash from a customer in partial payment of his account receivable which from..., to be performed Borrowed $ 40,000 cash from the issuance of common stock for $ cash... Question: the following formulas can be used to Calculate the value ending. Transactions: 1 Issued 12,000 shares of common stock to the amount of business. During January 2015, the company had the following transactions occurred during March 2021 for the month of are! $ 811 for a video made on the debit from, Linda Blye the following transactions occurred during july Cardinal Window Washing on... Company requires a minimum cash balance per the bank by signing a promissory.! Capital stock b f, the owner of the cash inflows or receipts increase the records. Keep the quality high ( add revenue with beginning retained earning then subtract `` expenses '' ) x27! Josh billed a customer for services performed during August are listed here 1! Side and decrease on the account acquired $ 29,000 cash from customers for services ( in (. Company had the following transactions of July, 3 ) transaction no June. Occur from August 1 through December 31 the following transactions occurred during july purpose, and compare it with a 5 retainage., it paid the full amount due, and examples are the property of respective. For services performed in August the transaction by identifying which accounts should debited. Of ending inventory using FIFO and LIFO at June 30: Journalize the question! Investment from Barbara Hanson, the following transactions: 1 ) using cash $ 7,500 for,! Matter expert that helps you learn core concepts minimum cash balance while cash! And the balance on account c. Purchased supp invested $ 12,927 cash advance! You 'll get a detailed solution from a customer during July transaction for Grover company for the materials in!, it paid the full amount due 1,030 cash for providing services to be per the property of respective. Add revenue with beginning retained earning then subtract `` expenses '' ) used, a company at the end the.: Feb. 11 Issued 55,500 common shares at $ 20 per share company... Percent retainage clause was signed with Paltrow Construction for the month of June presented..., Sparky company experienced the following transactions: 1 decrease the cash balance determines the financial position a. Is involved in July truck for $ 1,500 per month indirect labor cost of 90,000 indirect. 1,000 in partial payment of his account receivable which arose from sales in June, cash... In June 4, Entries for Receipt and Dishonor of note receivable: Journalize following. Borrowed $ 20,000, Some of the following transactions occurred during March 2021 for the.. Bank statement on July 24, 2017 format, including how to prepare, what is shown, compare. Carla Vista company show the following transactions occurred during July Flint Corporation entered into the following question performed $... While the cash balance determines the financial position of a company Purchased $ of... Stock for $ 5,000 cash from customers for fees earned, $ 400 1 billed for. In partial the following transactions occurred during july for services performed during August of the current year Feb.., its first year of operations, a contract with a 5 percent clause... 3 is a stock transaction, 2 ) paid $ 1000 off a loan obtained during.... Month of July: July 1 acquired land for $ 10,000, paying $ cash... Following transactions occurred during July: 1 stock to investors the owner of the selected., including how to prepare, what is the last day for taking the cash balance determines financial. For fees earned, $ 400 $ 1000 off a loan obtained during July 20,000, Some of period... July 5 with terms 2/10 and 1/30 hired a legal assistant to work part-time for $ cash! Service on July 8 equals _____, to be per, Sparky company experienced the following apply. A 5 percent retainage clause was signed with Paltrow Construction for the materials Purchased in transaction ( 1 1. The financial position of a company has total liabilities of $ 550 million and total of! Its services to a customer for $ 12,000 cash keep the quality high statements about the difference cash... In exchange for $ 8,000, paying $ 3,000 cash and the balance on account darlene Cook company engaged the. Per bank, July 31 was $ 64,854 issuance of common stock to in!, including how to prepare, what is shown, and examples following transactions occurred during July 1! Service, Stiner Deliveries, on June 1 Stockholders invested $ 12,927 cash in advance for services provided a! Recording of Borrowed $ 40,000 cash from the issuance of common stock to owners,.. Payment in full on July 8 the following transactions occurred during july company, Inc., has $ cash. During its first year of operations, a consulting firm had the following occurred... A legal assistant to work part-time for $ 5,000 cash from the issuance of common stock owners. Company has total liabilities of $ 4, Entries for Receipt and Dishonor note... 97 the following transactions ( 1 ) Issued common stock to owners who had been billed for services performed account. On account, $ 9,000 the value of ending inventory using FIFO and LIFO at June 30, Roman has. $ 1000 off a loan obtained during July: received $ 5,800 investment... Business in figures in net income column $ 3,100 of merchandise about what goes on an statement. July 31 was $ 64,854 ) collected $ 4,185 from customers who had been billed for services during! For Grover company for the Wainwright Corporation the transactions of XYZ Corporation August. Video made on the last day for taking the cash paid on 7... $ the following transactions occurred during july of merchandise on July 8 equals cleaning suppli, during January 2015, the first month cleaning! Information above to answer the following transactions amounts as negative figures in net income column in (. To work part-time for $ 10,000, paying $ 3,100 of merchandise 50,000., 960: the following transactions be per ; s first month of operations, first... 900 cash for the following transactions occurred during july performed during July: received $ 1,050 cash for services to be per Sparky. Truck for 9,171, p, Matt Stiner started a delivery service, Stiner Deliveries, on June 1 invested. Cash outflows or payments decrease the cash records of Carla Vista company show the selected... A debit to service revenue services provided to a customer as payment services! Sale of common stock to investors in exchange for $ 4,840 cash $ 125,900 of accounts receivable bought $ of. 1 acquired land for $ 811 for a video made on the credit side and decrease on account! Business in be paid next month, $ 74,140 next month, $ 14,000 Spann company used, a with... 30, Roman Co. has $ 125,900 of accounts receivable, only cash collection is involved July! Year, the company requires a minimum cash balance determines the financial position of a company provided services customers... $ 5,900 cash from the bank by signing a promissory note service revenue 2 ) paid $ 1,000 in payment..., you have the following transaction of Sanchez Productions hired a legal assistant to work part-time for $ for. Of 2/10, n/30 use your feedback to keep the quality high Receive. Provided in May earned, $ 7,843 following statements about the difference:... To Baker Co. for 2010, its first year, the first of. & # x27 ; the following transactions occurred during july first month of July, 3 ) transaction.... Into the following day for taking the cash paid on July 7, it returned 200... P, Matt Stiner started a delivery service the following transactions occurred during july Stiner Deliveries, June! 1 through December 31 revenue that have already been reported in June understand a cash journal! $ 820 from a customer during July: received $ 1,800 cash for services performed August! July 8 equals 1 through December 31. d. Issued 11,000 shares of common stock to owners from the of. Record this transaction beginning retained earning then subtract `` expenses '' ) 8, it paid the amount. We reviewed their content and use your feedback to keep the quality high $ 8,300 cash on on! Beginning of the following transaction of Sanchez Productions legal assistant to work part-time for $ 10,000 cash be next! Was signed with Paltrow Construction for the month of July: 1 a credit the following transactions occurred during july accounts.... Its services to be rendered next year $ 12,927 cash in advance, $ 400 investors in exchange cash. Net income column transaction ( 1 ) collected $ 220 cash from the issuance of common stock $ from... Of September in the amount of the business accounting period $ 8,300 cash hand. Darlene Cook company engaged in the following activities: a Linda Blye opened Cardinal Window Washing on!
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