Consider the following transactions.
1. Receive cash from customers, $15,000.
2. Pay cash for employee salaries, $9,000.
3. Pay cash for rent, $3,000.
4. Receive cash from sale of equipment, $8,000.
5. Pay cash for utilities, $1,000.
6. Receive cash from a bank loan, $4,000.
7. Pay cash for advertising, $7,000.
8. Purchase supplies on account, $3,000.
Required:
Post transactions to the Cash T-account. The beginning balance in the Cash T-account is $5,000.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Consider the following transactions. 1. Receive cash from customers, $15,000. 2. Pay cash for employee salaries, $9,000. 3. Pay cash for ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Suppose that the quantity of chain saws sold increased from 200 to 400 when the price fell from $225 to $175. Over this price range, the absolute value of the price elasticity of demand for chain saws isa. 0.25. b. 0.375. c. 1.0. d. 2.67. e. 4.0.
Answers (1)
Burich Co. reported short-term borrowings of $2.5 million, long-term borrowings of $6.8 million, repayments of long-term borrowings of $3.5 million, interest payments of $780,000, purchase of common stock shares for treasury of $.
Answers (1)
An insured has an auto liability policy with limits of 25/50/15. The insured is involved in an accident caused by her negligence and is held legally liable for bodily injuries of 3 persons in the other auto as follows: "A" $15,000, "B" $30,000, and
Answers (1)
The price of an item will go up if the supply decreases. True or False
Answers (1)
George, an unmarried cash basis taxpayer, received the following amounts during 2016:Interest on savings accounts$2,000Interest on a State bond600Interest on City of Salem school bonds350Interest portion of proceeds of a 5% bank certificate of
Answers (1)
New Questions in Business
Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet. -Sold merchandise on account for $64,000 to a customer.
Answers (1)
Barans Realty Co. pays weekly salaries of $18,000 on Monday for a six-day workweek ending the preceding Saturday. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Friday.
Answers (1)
Montana Company was authorized to issue 200,000 shares of common stock. The company had issued 50,000 shares of stock when it purchased 10,000 shares of treasury stock.
Answers (1)
The following items caused the only differences between pretax financial income and taxable income. 1.
Answers (1)
Which of the following characteristics would lead the auditor to assess control risk at a higher level? a. It is difficult for the auditor to determine or gain access to the organization or individuals who own and/or control the entity. b.
Answers (1)