Sheffield, CPA, opened an accounting consulting practice on January 1, 2020. During the first month of operations, the following transactions occurred. 1.   Performed services for customers with terms net 60. At January 31, $3,550 of such services was performed but not yet billed to the insurance companies. 2.   Utility expenses incurred but not paid prior to January 31 totaled $1,330. 3.   Purchased computer and networking equipment on January 1 for $28,000, paying $14,000 in cash and signing a $14,000, 3-year note payable. The equipment depreciates $560 per month. Interest is $140 per month. 4.   Purchased a one-year insurance policy on January 1 for $13,200. 5.   Purchased $1,800 of supplies. On January 31, determined that $650 of supplies were on hand. Prepare the adjusting entries on January 31.

A company has three employees, each of whom has been employed since January 1, earns $2,850 per month, and is paid on the last day of each month. On March 1, the following accounts and balances appeared in its ledger. a. Employees' Income Taxes Payable, $1,103.30 (liability for February). b. El Payable, $340.63 (liability for February). c. CPP Payable, $759.82 (liability for February). d. Employees' Medical Insurance Payable, $1,660.00 (liability for January and February). During March and April, the company completed the following related to payroll. Mar. 17 Issued cheque #320 payable to the Receiver General for Canada. The cheque was in payment of the February employee income taxes, El, and CPP amounts due. Mar. 31 Prepared a general journal entry to record the March payroll register, which had the following column totals: EI $141.93 Income Taxes $1,103.30 CPP $379.91 Medical Insurance $415.00 Total Deductions $2,040.14 Net Pay $6,509.86 Office Salaries $2,850.00 Shop Salaries…

Prepare a journal entry for the purchase of office equipment on February 19 for $14,800 paying $3,600 cash and the remainder on account. Refer to the chart of accounts for the exact wording of the account titles.

Blue Spruce Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the business, these events and transactions occurred: Apr. 1 Stockholders invested $26,100 cash in exchange for common stock of the corporation. 1 Hired a secretary-receptionist at a salary of $544 per week, payable monthly. Paid office rent for the month $1,305. Purchased architectural supplies on account from Burmingham Company $1,885. 10 Completed blueprints on a carport and billed client $2,755 for services. 11 Received $1,015 cash advance from M. Jason to design a new home. 20 Received $4,060 cash for services completed and delivered to S. Melvin. 30 Paid secretary-receptionist for the month $2,176. 30 Paid $435 to Burmingham Companyfor accounts payable due. (a) Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not…

Below is the complete list of accounts of Cobras Incorporated and the related balance at the end of March. All accounts have their normal debit or credit balance. Supplies, $1,100; Buildings, $53,000; Salaries Payable, $300; Common Stock, $33,000; Accounts Payable, $2,100; Utilities Expense, $3,500; Prepaid Insurance, $1,100; Service Revenue, $19,300; Accounts Receivable, $4,000; Cash, $3,300; Salaries Expense, $6,200; Retained Earnings, $17,500. Required: Prepare a trial balance with the list of accounts in the following order: assets, liabilities, stockholders' equity, revenues, and expenses. Totals COBRAS INCORPORATED Trial Balance March 31 Accounts Debit Credit # www

Below are the accounts of J.L Laundry for the month ended March 31, 2015 Instructions: Prepare a statement of financial position and label its parts. After which, answer the following questions.   3. How much is the total current liability of the entity? Delivery Truck 120,000.00 Cash 22,400.00 Accounts Payable 120,000.00 Laundry Supplies 2,000.00 Inerest Payable 1,200.00 Laundry Equipment 80,000.00 Accounts Recievable ₱3,900.00 Net profit for the month 11,100.00 J.L Capital 104,000.00 J.L Drawing 1,000.00 Filipinas Hotel 4,600.00 D & E Coffee Shop 2,400.00

Determine the amount of employees net, wages?

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Alpesh

Derek Scoffin owns and operates YH Curling School on evenings and weekends. The company had the following balances in its general ledger at January 31, 2021: Cash $2,100, Accounts Receivable $720, Equipment $12,400, Accounts Payable $1,470, and D. Scoffin, Capital $13,750. The following events and transactions occurred during February 2021. Feb. 1   Received and paid a $430 advertising bill. 2   Paid the YH Curling Club $1,050 rent for use of the ice for lessons during the first two weeks of February. 3   Collected $4,240 cash for February’s curling lessons. 4   Collected all of the accounts receivable at January 31 in cash. 6   Paid $970 of the accounts payable at January 31. 14   Paid his part-time assistant $400. 15   Paid the YH Curling Club $1,050 rent for use of the ice for lessons during the last two weeks of February. 23   Provided $1,475 of coaching services to curlers preparing for a tournament. The curlers will pay him on March 2. 26   Paid $185 cash for…