subject
Business, 28.01.2020 17:46 suicune19

Entries into t accounts and trial balance

connie young, an architect, opened an office on october 1, 2019. during the month, she completed the following transactions connected with her professional practice:

transferred cash from a personal bank account to an account to be used for the business, $36,000.

paid october rent for office and workroom, $2,400.

purchased used automobile for $32,800, paying $7,800 cash and giving a note payable for the remainder.

purchased office and computer equipment on account, $9,000.

paid cash for supplies, $2,150.

paid cash for annual insurance policies, $4,000.

received cash from client for plans delivered, $12,200.

paid cash for miscellaneous expenses, $815.

paid cash to creditors on account, $4,500.

paid $5,000 on note payable.

received invoice for blueprint service, due in november, $2,890.

recorded fees earned on plans delivered, payment to be received in november, $18,300.

paid salary of assistants, $6,450.

paid gas, oil, and repairs on automobile for october, $1,020.

required:

1. record the above transactions (in chronological order) directly in the following t accounts, without journalizing. cash; accounts receivable; supplies; prepaid insurance; automobiles; equipment; accounts payable; notes payable; connie young, capital; professional fees; salary expense; blueprint expense; rent expense; automobile expense; miscellaneous expense. to the left of each amount entered in the accounts, select the appropriate letter to identify the transaction.

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 22:30
An annuity that goes on indefinitely is called a perpetuity. the payments of a perpetuity constitute a/an series. the equation is: a stock with no maturity is an example of a perpetuity. quantitative problem: you own a security that provides an annual dividend of $170 forever. the security’s annual return is 9%. what is the present value of this security? round your answer to the nearest cent. $
Answers: 2
question
Business, 22.06.2019 08:40
Which of the following is not a characteristic of enterprise applications that cause challenges in implementation? a. they introduce "switching costs," making the firm dependent on the vendor. b. they cause integration difficulties as every vendor uses different data and processes. c. they are complex and time consuming to implement. d. they support "best practices" for each business process and function. e. they require sweeping changes to business processes to work with the software.
Answers: 1
question
Business, 22.06.2019 10:00
mary's baskets company expects to manufacture and sell 30,000 baskets in 2019 for $5 each. there are 4,000 baskets in beginning finished goods inventory with target ending inventory of 4,000 baskets. the company keeps no work-in-process inventory. what amount of sales revenue will be reported on the 2019 budgeted income statement?
Answers: 2
question
Business, 22.06.2019 12:10
Profits from using currency options and futures.on july 2, the two-month futures rate of the mexican peso contained a 2 percent discount (unannualized). there was a call option on pesos with an exercise price that was equal to the spot rate. there was also a put option on pesos with an exercise price equal to the spot rate. the premium on each of these options was 3 percent of the spot rate at that time. on september 2, the option expired. go to the oanda.com website (or any site that has foreign exchange rate quotations) and determine the direct quote of the mexican peso. you exercised the option on this date if it was feasible to do so. a. what was your net profit per unit if you had purchased the call option? b. what was your net profit per unit if you had purchased the put option? c. what was your net profit per unit if you had purchased a futures contract on july 2 that had a settlement date of september 2? d. what was your net profit per unit if you sold a futures contract on july 2 that had a settlement date of september 2
Answers: 1
You know the right answer?
Entries into t accounts and trial balance

connie young, an architect, opened an office o...
Questions
question
English, 16.02.2021 17:40
question
Mathematics, 16.02.2021 17:40
question
Mathematics, 16.02.2021 17:40
question
Mathematics, 16.02.2021 17:40
question
Mathematics, 16.02.2021 17:40
question
Social Studies, 16.02.2021 17:40
Questions on the website: 13722361