More infoNov. 1Nov. 15Nov. 18Nov. 20Nov. 28The business received $18,000 cash and gave capital to Elise Madden, theowner.Purchased office supplies on account, $700.Paid advertising bill, $140.Received $1,300 from customers for services rendered.Madden withdrew $100 from the business.Ix 21. ESM Consulting Services had the following transactions for the month of November. Journalize the transactionsand include an explanation with each entry. (Record debits first, then credits. Select the explanation on the last line ofthe journal entry table.)Click the icon to view the transactions.)Nov. 1: The business received $18,000 cash and gave capital to Elise Madden, the owner.Accounts and ExplanationDateNov. 1Nov. 15: Purchased office supplies on account, $700.Accounts and ExplanationDateNov. 15Nov. 18: Paid advertising bill, $140.DateNov. 18Nov. 20: Received $1,300 from customers for services rendered.Accounts and ExplanationDateNov. 20Accounts and ExplanationNov. 28: Madden withdrew $100 from the business.DateNov. 28Accounts and ExplanationDebitDebitDebitDebitDebitCreditCreditCreditCreditCredit

Name: More infoNov. 1Nov. 15Nov. 18Nov. 20Nov. 28The business received $18,
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Description: More infoNov. 1Nov. 15Nov. 18Nov. 20Nov. 28The business received $18,000 cash and gave capital to Elise Madden, theowner.Purchased office supplies on account, $700.Paid advertising bill, $140.Received $1,300 from customers for services rendered.Madd

The journal entries are prepared to record the transactions on regular basis. The assets and…

Business

Accounting

Nov. 1 Nov. 15 Nov. 18 Nov. 20 Nov. 28 The business received $18,000 cash and gave capital to Elise Madden, the owner. Purchased office supplies on account, $700. Paid advertising bill, $140. Received $1,300 from customers for services rendered. Madden withdrew $100 from the business.

Nov. 1 Nov. 15 Nov. 18 Nov. 20 Nov. 28 The business received $18,000 cash and gave capital to Elise Madden, the owner. Purchased office supplies on account, $700. Paid advertising bill, $140. Received $1,300 from customers for services rendered. Madden withdrew $100 from the business.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter5: Adjusting Entries And The Work Sheet

Section: Chapter Questions

Problem 6CE

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wner contributed computer costing RO. 9000, inventory worth OR 8000 and in cash OR 32000 . What is his Capital ? Select one: a. OR 49000 b. OR 8000 c. OR 32000 d. OR 39000 Rent revenue received OMR 3500 by cheque . The correct entry--- Select one: a. CASH A/C DR RENT A/C CR b. BANK A/C DR RENT A/C CR c. RENT A/C DR CASH A/C CR d. RENT A/C DR BANK A/C CR If a business has purchased goods for OMR 50000 and 25%was on account . Find out value of account payable? Select one: a. OMR 12500 b. OMR 50000 c. OMR 37500 d. OMR 32500
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13.Surekha 's trial balance was as follows. Trial Balance for the year ended 31st March, 2008 Debit Balances Amt? Credit Balances Amt 1,50,000 By Provident Fund 10,000 By Interest on Provident 50,000 fund Investment 15,500 By Purchase return 10,000 By Sundry Creditors 5,800 By Sales 7,200 By Capital 17,500 300 To Purchases 11,000 To Sales return To Sundry Debtors To Opening Stock To Salaries 500 10,000 20,000 2,06,300 50,000 To Wages To Furniture To Machinery To Bad debts To Advertisement(for 3 years from 1" Oct.,2007) 3,000 10,000 1,000 3,000 4,500 10,000 2,97,800 To 10% Provident Fund Investment To Provident Fund contribution To Insurance To Drawings: To Deferred Revenue expenses 2,97,800 Adjustments : 1.Closing stock on 31* March 2008 -Cost price ? 70,000 2.Depreciate - Machinery by 10% and Furniture by 20% 3.Goods worth 78,000 sold by 25% profit on keep or return scheme. 4.Outstanding expenses – Wages 2,000; Salaries 35,000 5.Write off 1,000 as bad debts and provide reserve for…
Yi Min started an engineering firm called Min Engineering. He began operations and completed seventransactions in May, which included his initial investment of $18,000 cash. After those seven transactions,the ledger included the following accounts with normal balances. Cash . . . . . . . . . . . . . . . . . . $37,600Office supplies. . . . . . . . . . 890Prepaid insurance. . . . . . . 4,600Office equipment. . . . . . . $12,900Accounts payable. . . . . . . 12,900Y. Min, Capital. . . . . . . . . . 18,000Y. Min, Withdrawals . . . . . . . . . . . $ 3,370Engineering fees earned. . . . . . . 36,000Rent expense. . . . . . . . . . . . . . . . 7,540 Required 1. Prepare a trial balance for this business as of the end of May. 2. The following seven transactions produced the account balances shown above. a. Y. Min invested $18,000 cash in the business. b. Paid $7,540 cash for monthly rent expense for May. c. Paid $4,600 cash in advance for the annual insurance premium beginning the next period. d.…
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3. Prepare a trial JAMILI LANDSCAPING SERVICE 8. 9. 10 11 1 Evangeline Jamili has the following completed transactions during the month of March: March 1. Jamili deposited P200,000 in a bank account in the name of the business. 2. Jamili invested personal gardening equipment, with a fair market value of P10,000 in the business. 3. Bought a used tailer on account from Sala Sales, P8,500. 4 Paid the rent for the month, P6,000. 5. Bought a used backhoe from Mobile Equipment, P62,000 paying P30,000 in cash and the balance on account. 6. Bought liability insurance for one year, P9,000. 7. Performed landscaping services on account for Tinody Company, P34,200 8. Bought supplies on account from Office Décor, P2,400. 9. Performed landscaping services for Calimpusan on Cash basis, P18,800. 10. Paid accounts to Sala Sales, P4,000. 11. Collected accounts from Tindoy Company, P7,000. fi
Find out value of account receivable from following Cash P48,000 accounts payable P33,000 office equipment P21,000 owner equity P77,000? a. P110,000 b. P15,000 c. P41,000 d. P21,000
V1801 January Kirill introduced $17,000 cash and a vehicle (costing $2,000) as capital01 January Purchased a machine by cash, $1,80001 January Received a bank loan principal $2,10002 January Purchased furniture on credit, $2,00017 January Invoiced a customer for services, $1,90021 January Bought goods for cash, $1,40022 January Sold goods on credit, $2,50031 January Accrued wages, $80031 January Paid interest expense, $10Cost of goods available at 31 January is $110, their market value is $140.RequiredPrepare:(iv) a statement of profit or loss (income statement) for the year to date;(v) a statement of financial position (balance sheet).
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