Requirement a. Journalize and post adjusting journal entries for Harry. (Record debits first, then Begin by preparing the adjusting journal entries. Of the cash payments received from customers on December 1, half of these services were per Account December 31 Read the requirements Transactions January 2: The owners invested $550.000 (the par value of the stock) into the business and acquired 55,000 shares of common stock in retum January 15: Harry bought an office building in the amount of $75,000. The company took out a long-term note from the bank to finance the purchase February 12: Harry billed clients for $95,000 of services performed March 1: Harry took out a two-year insurance policy, which it paid cash for in the amount of $23,400 March 10: Harry collected $8,000 from clients toward the outstanding accounts receivable balance May 13: Harry received cash payments totaling $230.000 for legal services-$87,000 was for services previously billed to customers on February 12 and the remainder was for services provided in May 1 yet recorded June 10: Harry purchased office supplies in the amount of $10,000, all on credit July 15 Harry paid wages of $24,000 in cash to office staff workers August & Harry p $10,000 balance owed to a supplier for the Print 8x Done

July 1 July 1 July 3 July 5 July 12 July 18 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Maintenance and Repairs Expense Supplies Expense Depreciation Expense 14,400 5520 1080 2160 9600 350 2400 6480 744C 1440C

Prepare journal entries to record the following transactions: Dec. 1 - Mr. John Miller deposited $100,000 as initial investment to his newly open business, Miller Repair Shop DEC. 1:

The Dog & Cat Hospital, owned by Kate Miller, a veterinarian, opened for business on December 1 of the current year. Using the horizontal worksheet below, record the following December transactions. Total the columns to show that assets equal liabilities plus stockholders' equity as of December 31. 1. Miller opened a checking account on December 1 at Biltmore Bank in the name of The Dog & Cat Hospital and deposited $12,500 Miller received common stock for her investment. 2. Paid rent for December, $750. 3. Purchased office equipment on account, $1,450. 4. Purchased supplies for cash, $950. 5. Billed clients for services rendered, $3,650. 6. Paid secretary's salary, $975. 7. Paid $750 on account for the equipment purchased on December 3. 8. Collected $2,900 from clients previously billed for services. 9. The firm paid stockholders $1,500 cash as a dividend. Note: Use negative signs with answers, when appropriate. Assets Liabilities Stockholders' Equity = Accounts Office Accounts Common…

with this entries   July 1 Began business by making a deposit in a company bank account of $40,000, in exchange for 4,000 shares of $10 par value common stock. July 1 Paid the premium on a 1-year insurance policy, $4,800. July 1 Paid the current month's store rent expense, $3,600. July 6 Purchased repair equipment from Paul's Pool Equipment Company, $7,800. Paid $600 down and the balance was placed on account.   July 8 Purchased repair supplies from Mary's Repair Company on credit, $450. July 10 Paid telephone bill, $300. July 11 Cash pool service revenue for the first third of July, $2,650. July 18 Made payment to Mary's Repair Company, $300. July 20 Cash pool service revenue for the second third of July, $4,000. July 31 Cash pool service revenue for the last third of July, $2,250. July 31 Paid the current month's electric bill, $500. July 31 Declared and paid cash dividend of $1,100.   i have to Prepare adjusting entries using the following information in…

Jim commenced business as a sole trader under the name of ‘JimTag’, and he has provided the following accounts and their closing balances for the year ended 31st December 2020:   Jim Tag Unadjusted Trial Balance as at 31 December 2020 Accounts $   $ Capital: JimTag as at 1 January, 2020             98,900    Drawings       21,700       Sales      260,700 PAYG Withheld        23,200 Cost of Goods Sold 128,700      Cash at Bank        22,400   Accounts Receivable        14,150   GST Collected        25,500 Sales commissions expense         6,560   Staff salaries expense       64,500   Accounting fees         2,300   Advertising expense         7,970   Inventory as at 31 December, 2020       40,250   Computer Equipment at cost       36,000   Shop Fittings at cost       70,000   Accumulated Depreciation: Computer Equipment                5,400 Accumulated Depreciation: Shop Fittings       18,000 Accounts Payable       18,900 Long-term Bank…

Comprehensive review of the entire accounting cycle, Chapters 1-5 0 (175 min) Check Figure Net Income $5,388.44 P5-2C. From the following transactions as well as additional data, please complete the entire accounting cycle for Mike's Plumbing of Prince Albert. (Use a chart of accounts similar to the one in Problem P5-1A on page 228.) 2022 May 1 To open the business, Mike Quinlan invested $10,000 cash and $7,400 worth of plumbing equipment. 1 Paid rent for four months in advance, $1,980. 3 Purchased office equipment on account from MacKenzie Co., $3,800. 7 Bought plumbing supplies, $1,645. 8 Collected $3,600 for plumbing services provided. 9 Mike paid his home utility bill with a company cheque, $122. Billed Western Construction Co. for plumbing fees earned but not to be received until later, $9,600. 10 14 21 28 Advertising bill was received from ABCD Radio Co. but is not to be paid until next month, $420. Received cheque from Western Construction Co. in partial payment of transaction…