 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Answers to accounting problems
Laura Eddy opened Eddy's Carpet Cleaners on March 1. During March, the following transactions were completed.
Mar. 1 Invested $10,026 cash in the business. 1 Purchased used truck for $6,470, paying $3,235 cash and the balance on account. 3 Purchased cleaning supplies for $1,017 on account. 5 Paid $1,704 cash on one-year insurance policy effective March 1. 14 Billed customers $4,991 for cleaning services. 18 Paid $1,353 cash on amount owed on truck and $495 on amount owed on cleaning supplies. 20 Paid $1,920 cash for employee salaries. 21 Collected $1,404 cash from customers billed on March 14. 28 Billed customers $2,694 for cleaning services. 31 Paid gas and oil for month on truck $203. 31 Withdrew $621 cash for personal use. The chart of accounts for Eddy's Carpet Cleaners contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 128 Cleaning Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation-Equipment, No. 201 Accounts Payable, No. 212 Salaries Payable, No. 301 L. Eddy, Capital, No. 306, L. Eddy, Drawing, No. 350 Income Summary, No. 400 Service Revenue, No. 633 Gas & Oil Expense, No. 634 Cleaning Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries Expense |
||||
| Question Tools | Search this Question |
Add your answer here.
Check out some similar questions!
I'm not understanding at all Instructions Identify the internal control principles and their application to cash disbursements of Marais Company. P7-2B The board of trustees of a local church is concerned about the internal accounting Controls pertaining to the offering collections made at...
Dan Engles manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 50-gallon batch. 3,200 ounces of grape concentrate at $0.06 per ounce 55 pounds of granulated sugar at $0.38 per pound 62 lemons at $0.63 each...
Campbell Soup Co. Had the following assets and liabilities (in millions) as of July 29, 2007. Assets $6,445 Liabilities 5,150 A. Determine the stockholders' equity of Campbell Soup as of July 29, 2007. B. If assets increased by $29 and liabilities increased by $6, what was the increase Or...
Journalise the following transactions: aug:01 introduced cash as capital Rs.296000 aug:01 bought furniture for Rs.60000 ...
Cost from Beginning Inventory Cost from Current Period Direct Materials $3,650 $31,620 Conversion Costs 9,120 143,100 At the beginning of the period, there were 800 units in process that were 60% complete as to conversion costs and 100% complete as to direct materials...
View more questions Search
|
