1. Prepare journal entries Jan 3 Stan Adam opened a landscaping business by investing $60,000 cash. Purchased office supplies on credit for $340. Received $5,200 for providing landscaping service to customer. Paid $200 regarding office supplies. Jan 15 Jan 20 Provided landscaping services worth $2,000 on credit.
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- Journalize the following transactions in the books of AHMED for the month of March. 2020 2020 March. 1 Introduced cash as capital OMR 50,000. 5 Goods purchased on cash for OMR 10,000. 8 Purchased furniture on credit for OMR 10,000. 10 Paid OMR 2,000 as charity in COVID-19 fund. 15 Paid tuition fee for owner’s children from the business bank account OMR 200. 18 Paid electricity bill OMR 100. 20 Purchased goods from Rashid for OMR 8,000 and paid only 4,000 to him. 22 Purchased an extra machine for cash OMR 10,000 25 Paid salaries OMR 500 from the bank account 28 Cash sales to Mohammed OMR 1,000.form the Journal entry of the given transaction: date/s transaction debit credit Sep-02 Garcia invested P30,000 cash to start his business. 2 Purchased medical Supplies on account, P10,000 3 Paid monthly office rent of P4,000. 4 Recorded P5,000 revenue for service rendered to patients: received cash of P2,000 and sent bills to patients for the remainder. 10 Borrowed P50,000 from the bank, signing a note payable 15 Performed service for patients on account, P3,600 22 Received cash from patients billed on September 3, P2,000 25 Received and paid a utility bill, P200 26 Paid monthly salary to nurses, P3,000 30 Paid interest expense of P200construct the Journal Entry of the transaction: Date/# Account Title Debit Credit Oct-01 Garcia invested P30,000 cash to start his business. 2 Purchased medical Supplies on account, P10,000 2 Paid monthly office rent of P4,000. 3 Recorded P5,000 revenue for service rendered to patients: received cash of P2,000 and sent bills to patients for the remainder. 15 Borrowed P50,000 from the bank, signing a note payable 22 Performed service for patients on account, P3,600 30 Received cash from patients billed on September 3, P2,000 31 Received and paid a utility bill, P200 31 Paid monthly salary to nurses, P3,000 31 Paid interest expense of P200
- Create journal entries for sage 50. ? 1.The owner Jasmine, had the bank transfer (by the bank memo) $20000 from the personal savings account to the business bank account to start the business. 2. Negotiated a 5-year bank loan of $40000 at an annual interest rate of 9.50% with Loyal Bank. The money was deposited in the bank account today. 3.Received invoice 402 for $1200 plus HST from Captain Insurance, for a one-year business Insurance Policy, commencing Aug 1, 2018. Issued cheque #1001 to pay this invoice.p. On April 5, Timothy established an interior decorating business, Tim's Design, with a cash investment of P200,000. Timothy completed the following transactions for April: 6 Paid rent for the month, P8,000. Purchased from Delta Co Office equipment, P55,000, using his credit card. Purchased a used car for P180,000, paying PS0,000 cash and taking a bank loan For the remainder. 10 Purchased supplies and materials for cash, P11.315. Received cash from Miss Laura for a job completed in her condo, P57,500. Supplies were used amounting to PS,250. Purchased materials and supplies on credit, P15,000 12 20 23 Recorded job completed for Mr. Ferrer. Tem: on account 10 days, P14,950. Supplies were used up amounting to P3,500. Received an invoice for repairs on the car and paid P4,500. Paid utilities expense, P1,750. Paid P20,000 on the bank loan. Received cash from Mr. Ferrer, P10,000. 24 25 26 27 28 Paid Salary of worker, P5,000. Paid Delta a portion of the amount owed for equipment, P5,000.…Q4) A) Journalize the following transactions in the books of AHMED for the month of March. 2020 B) Post the transactions given in Section – D to the proper ledger accounts. 2020 March. 1 Introduced cash as capital OMR 50,000. March. 5 Goods purchased on cash for OMR 10,000. March. 8 Purchased furniture on credit for OMR 10,000. March. 10 Paid OMR 2,000 as charity in COVID-19 fund. March. 15 Paid tuition fee for owner’s children from the business bank account OMR 200. March. 18 Paid electricity bill OMR 100. March. 20 Purchased goods from Rashid for OMR 8,000 and paid only 4,000 to him. March. 22 Purchased an extra machine for cash OMR 10,000 March. 25 Paid salaries OMR 500 from the bank account March. 28 Cash sales to Mohammed OMR 1,000.
- Q4Journalize the following transactions in the books of AHMED for the month of March. 2020 2020 March. 1 Introduced cash as capital OMR 50,000. March. 5 Goods purchased on cash for OMR 10,000. March. 8 Purchased furniture on credit for OMR 10,000. March. 10 Paid OMR 2,000 as charity in COVID-19 fund. March. 15 Paid tuition fee for owner’s children from the business bank account OMR 200. March. 18 Paid electricity bill OMR 100. March. 20 Purchased goods from Rashid for OMR 8,000 and paid only 4,000 to him. March. 22 Purchased an extra machine for cash OMR 10,000 March. 25 Paid salaries OMR 500 from the bank account March. 28 Cash sales to Mohammed OMR 1,000.Create journal entries to record the following transactions. 1. James purchases a 5,000 piece of equipment. 2. James writes his monthly check for rent. 3,000 3 James take out a 25,000 loan with his banks. 4. James sold his car for 20,000 to Nadine as credit 5. James received 10,000 cash from Nadine as payment to her eredit.GIVEN:REF. AMOUNT Business Transactions1. 120,000 DEPOSITED CASH FOR HIS CPA PRACTICE BUSINESS2. 15,000 PAID OFFICE RENT FOR DEC 20193. 80,000 EQUIPT PURCHASED; P40K D/P; P40K PROMM NOTE4. 10,000 OFFICE SUPPLIES BOUGHT ON ACCT5. 25,000 BOOKEEPING SERVICES DONE & PAID FOR CASH6. 12,000 Salary paid7. 6,000 RECEIVED UTILITY BILLS FOR DEC 20198. 35,000 BILLED CLIENTS FOR SERVICES; NO CASH YET9. 6,000 PAID CREDITOR IN PART, SEE #310. 15,000 RECEIVED CASH FROM BILLED ACCTS, SEE #811. 16,000 W/DRAWN CASH FROM #1, FOR PERSONAL USE12. 10,000 TAX CONSULTATION SERVICES, RECEIVED IN CASH13. 6,000 UNUSED SUPPLIES REMAINING, SEE #4 REQUIRED: A TRANSACTIONAL ANALYSIS USING ACCOUNTING EQUATION AND SPECIFIC ACCOUNT TITLESPROFORMA TEMPLATE: A S S E T SGIVEN: Accts SHOPref. Amount, Cash, Rec'ble,Supplies,Equipments…
- Prepare journal entries to the following transactionsfor the year 2020.Sept. 1 Paul Barney invested Php 150, 000 in Barney repair ShopSept 3 Purchased equipment worth Php 80,000 on account.Sept. 12 Paid Php 25, 000 for the equipment purchased dated Sept. 3, 2020.Sept. 15 Rendered service amounting to Php 45,000.Sept. 17 Paid salaries to employees, Php16,000Mr. Tristan Siy III established Siy Bookkeeping Services and had the following transactions for the month of February: 4 19 15 18 19 Received P35,000 cash from customers in payment of their account. Paid in cash and received an official receipt 20 from the supplier for payment of accounts, 21 28 28 Investment of P150,000 cash fund by Mr. Siy into the business. 28 Received a Charge Invoice from a supplier for the purchase of a desktop computer amounting to P32,500. The computer is estimated to be useful for five years and have a salvage value of P2,500 thereafter. Purchased supplies amounting to P18,000 in cash. Paid P6,000 insurance for six months. Issued a Service Invoice for an amount of P50,000 to a customer for services rendered on account. P20,000. Rendered services to customers billed for P30,000. Cash payment of P15,000 for the salary of an employee. Mr. Siy withdrew P12,000 cash from the business. Paid the telephone bill for February amounting to P3,000.Pita purchased a small roadside inn in April with inheritance money he received from his wealthy aunt. Help him prepare his T accounts for his first month of operations using the information provided. a. Pita invested P5,000,000 cash in the inn.Cash Owners’ Equityb. Pita purchased a P50,000 point of sale (POS) system with P5,000 cash and P45,000 notes payable.Cash POS system Notes Payablec. Pita generated P75,000 in revenues with P52,000 cash and P23,000 accounts receivable.Cash Accounts Receivable Revenuesd. Pita paid utilities of P750 in cash.Cash Utilities Expense