Maria Miller started her own consulting firm, Maria Consulting, on May 1, 2022. The following transactions occurred during the month of May. May 1   Maria invested $7,500 cash in the business. 2   Paid $850 for office rent for the month. 3   Purchased $500 of supplies on account. 5   Paid $130 to advertise in the County News. 9   Received $4,400 cash for services performed. 12   Withdrew $1,200 cash for personal use. 15   Performed $5,600 of services on account. 17   Paid $2,600 for employee salaries. 20   Made a partial payment of $300 for the supplies purchased on account on May 3. 23   Received a cash payment of $4,100 for services performed on account on May 15. 26   Borrowed $4,700 from the bank on a note payable. 29   Purchased equipment for $4,000 on account. 30   Paid $350 for utilities. Prepare a trial balance, an income statement, a statement of owner’s equity, and a balance sheet.

Aggie Pool Guys, Inc. began operations on September 1, 2019 with an investment of $30,000 cash into the business.  During the month of September, Aggie completed the following additional transactions:               Sept 2    Sold a customer pool equipment on account, $2,500.             Sept 4    Purchased supplies on credit for $1,000.             Sept 8    Repaired a customer’s pool and collected the fee of $1,800.             Sept 13  Received $500 from customers for payment on their account.             Sept 15  Paid employee wages of $800.             Sept 18  Repaired a customer’s pool and billed, but did not collect $2,200.         Sept 21  Collected $1,000 from a customer for a job to be performed in October.   What is the balance in the Accounts Receivable account on September 30, 2019? (hint:  Use T account)   A. $8,000   B. $4,200   C. $3,200   D. $7,000   E. $5,200   Do not give answer in image formate

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.…

Ann opened an Office Cleaning Service company on January 1, 2020.  During 2020 she had the following transactions.(1)  She started the business with investing $30,000 of her own money (business was organized as corporation)(2)  She borrowed $40,000 from bank by issuing a 5-year note.(3)  She purchased $15,000 of furniture and equipment- paid $5,000 cash and signed a note for the rest.(4)  She purchased a truck for business use at $20,000 in cash.(5)  During the year, provided $85,000 services to customers of which $71,000 was collected, the rest was not yet collected as of Dec. 31st.(6)  During the year, she incurred $58,000 of salaries expense of which $2000 was still not paid as of Dec. 31st.(7)  During the year, she paid $3000 interest on the note to the Bank(8)  During the year, she took $3,000 as dividend.(9)  During the year, she collected $150 interest from bank on company account(10)During the year, purchased $2000 of supplies in cash.(11)During the last week of the year, she…

Reliable Corporation provides computer consulting services to the local community and keeps its accounting records using cash- basis accounting. For the current year, cash was received from customers, $42,000, and cash salaries to employees were paid, $23,000. At the beginning of the year, customers owe Reliable $1,200. By the end of the year, customers owe $6,400. At the beginning of the year, Reliable owes employee salaries of $5,400. At the end of the year, Reliable owes employee salaries of $3,200. Determine cash-basis net income and accrual-basis net income for the current year. Cash-basis net income Accrual-basis net income

B. Mr. Abdullah formed Al-Noor Enterprises on February 2021. During the month, the following financial transactions occurred: Review and find the mistake of the following transactions which is recorded in general journal and rewrite them. 2021, February 10 Paid the month's rent OR 700 16 Withdrew OR 10,000 for personal use. 23 Collected OR 9,000 from Bahwan Company. 28 Sold goods for cash - OMR 15,000 Al-Noor Enterprises for January Date Particulars Ref. Debit Credit 2020 Feb. 11 Rent Expense 700 Cash 700 16 Abdullah, Withdrawal 10,000 Expense 10,000 10,000 Cash Accounts Payable 23 10,000 30 Sales 15,000 Cash 15,000

Dean Winchester opened Ghost Cleaners on June 1, 2021. He is the sole owner of the corporation.During June, the following transactions were completed by Dean.1-Jun Invested $65,000 in exchange for common stock in Ghost Cleaners, Inc.1-Jun Purchased a used van for $12,000, paying $3,000 cash and the taking out a note payable for the rest.He plans to pay off the remaining balance on the van by June 1, 2022. The note has a 10% APRwith interest being payable at the end of every month. No principle payments are due until August 1, 2021.1-Jun Paid $1,800 cash on a 12-month insurance policy effective June 1, 2021.1-Jun Hired his brother, Sam, to help with the corporation. He will be paid $1,000 per month for now.5-Jun Purchased cleaning supplies for $1,500 on account.7-Jun Billed a client, F. Crowley, for services performed on June 7 in the amount of $3,000.8-Jun Paid $100 for gasoline for the van.12-Jun Paid $200 for maintenance on the van.15-Jun Incurred wages expense of $2,000.16-Jun…

Inner Resources Company started its business on April 1, 2019. The following transactions occurred during the month of April. A. The owners invested $9,000 from their personal account to the business account. B. Paid rent $750 with check #101. C. Initiated a petty cash fund $550 with check #102. D. Received $850 cash for services rendered. E. Purchased office supplies for $180 with check #103. F. Purchased computer equipment $8,500, paid $1,600 with check #104 and will pay the remainder in 30 days. G. Received $1,200 cash for services rendered. H. Paid wages $560, check #105. I. Petty cash reimbursement: Office supplies $200, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $93. Check #106. J. Increased Petty Cash by $100, check #107. Prepare the journal entries. If an amount box does not require an entry, leave it blank. A. В. E. F. G. Н. II II II 1I I II II I II II 1I I1 III II II D.

Prepare a statement of financial position.

On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the month: Jan. 1 Sharon Matthews transferred cash from a personal bank account to an account to be used for the business, $29,000.   2 Paid rent on office and equipment for the month, $2,350.   3 Purchased supplies on account, $2,250.   4 Paid creditor on account, $800.   5 Earned fees, receiving cash, $14,640.   6 Paid automobile expenses (including rental charge) for month, $1,520, and miscellaneous expenses, $890.   7 Paid office salaries, $2,000.   8 Determined that the cost of supplies used was $1,100.   9 Withdrew cash for personal use, $2,600.   Required: 1. Journalize entries for transactions Jan. 1 through 9. Refer to the Chart of Accounts for exact wording of account titles. 2. Post the journal entries to the T accounts, selecting the appropriate date to the left of each amount to identify the transactions. Determine the account…