TRANSACTIONS 1 Paid $4,800 for the current month's RENT 2 Performed Services for $15,000 in cash 3 Paid Salaries of $6,900 to employees 4 Performed additional servcices for $12,500 on CREDIT 5 Paid $1,580 for the monthly Telphone Bill 6 Collected $6,500 from accounts receivable 7 Received a $297 CASH refund for an overcharge on the Telephone Bill 8 Performed services for $8,560 on credit 9 Paid $875 in cash for presentation folder, paper clips and a pen 10 Purchased 10 cases of paper and other supplies at Office Max for $1,260 on Credi 11 Paid Insurance for the year in the amount of $1,700 cash A Month end inventory of supplies was $800 EB Consumed 1 month of Insurance OBJECTIVE: RECORD TRANSACTIONS ACROSS ALL TOOLS AND JOURNALS THEN PREPARE FINANCIAL STATEMENTS.

TRANSACTIONS 1 Paid $4,800 for the current month's RENT 2 Performed Services for $15,000 in cash 3 Paid Salaries of $6,900 to employees 4 Performed additional servcices for $12,500 on CREDIT 5 Paid $1,580 for the monthly Telphone Bill 6 Collected $6,500 from accounts receivable 7 Received a $297 CASH refund for an overcharge on the Telephone Bill 8 Performed services for $8,560 on credit 9 Paid $875 in cash for presentation folder, paper clips and a pen 10 Purchased 10 cases of paper and other supplies at Office Max for $1,260 on Credi 11 Paid Insurance for the year in the amount of $1,700 cash A Month end inventory of supplies was $800 EB Consumed 1 month of Insurance OBJECTIVE: RECORD TRANSACTIONS ACROSS ALL TOOLS AND JOURNALS THEN PREPARE FINANCIAL STATEMENTS.

Name: TRANSACTIONS1 Paid $4,800 for the current month's RENT2 Performed Ser
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Description: TRANSACTIONS1 Paid $4,800 for the current month's RENT2 Performed Services for $15,000 in cash3 Paid Salaries of $6,900 to employees4 Performed additional servcices for $12,500 on CREDIT5 Paid $1,580 for the monthly Telphone Bill6 Collected $6,500 f

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 2PB: To demonstrate the difference between cash account activity and accrual basis profits (net income),...

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