ongue vel laoreet ac, dictum vitae odio. Bought a used truck from Degroot Motors for 15,140, paying 5,140 in cash and placing the remainder on account. b. Required information [The following information applies to the questions displayed below.) Purchased supplies on account, 2,300. c. Earned sales commissions, receiving cash, 13,300. d. Paid rent on office and equipment for the month, 3,000. e. Paid creditor on account, 1,150. f. Paid dividends, 1,800. g. Paid automobile expenses (including rental charge) for month, 1,500, and miscellaneous expenses, 400. h. Paid office salaries, 2,800. i. The following transactions occur for Badger Biking Company during the month of June: a. Receive cash of $41,000 from customers in (a) above. The following transactions occur for Badger Biking Company during the month of June: Provide services to customers on account for $41,000. (F) Unearned fees on May 31 are 3,210. Paid cash to owner for personal use, 6,000. Identify the account affected when the transaction involves revenues or expenses. 1004. j. The following transactions occur for Badger Biking Company during the month of June: a. 1205. j. Prepare T accounts, using the account titles in (1). Each and every business transactions are to be recorded in Journals., Q:The following selected transactions were completed during July of the current year Provide services to customers on account for $46,000. Provide services to customers on account for $47,000. Provide services to customers on account for $41,000. The following transactions occur for Badger Biking Company during the. Journalize entries for transactions (a) through (i), using the following account titles: Cash, Supplies, Accounts Payable, Common Stock, Dividends, Sales Commissions, Rent Expense, Office Salaries Expense, Automobile Expense, Supplies Expense, Miscellaneous Expense. During the month of Record the following transactions on Page 6 of the journal: 20. c. Amount of net income for August. Instructions 1. Purchase bike equipment by signing a note with the bank for $27,000. \hline \text { B: } 80 \text { up to } 90 & 45 \\ Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. c. Repay $15,000 of the note in (b) above. No. This increases the cash which is a asset and reduces the accounts receivable with the same amount. Receive cash of $26,000 from customers in (a) above. Type of hemolysis in streptococcus and the basis of Book Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. c. Purchase bike equipment by signing a note with the bank for $27,000. On April 1, 2016, Maria Adams established Custom Realty. 1. c. Repay $20,000 of the note. Received $1,020 cash for services provided to a, A:Revenue means the income earned or generated by a business by carrying out the business activity. Liabilities Ch 02 Critial Thinking-Extra credit Saved Help Sav Critical Thinking Problem 2.1 (Algo) Financial Statements LO 2-3, 2-4 The following account balances are for Ping Chung, Certified. 3. I need help with all of these, even the blanks that currently have numbers in them The following transactions occur for Badger Biking Company during the month of June a. Opened a business bank account with a deposit of 24,000 from personal funds. Receive cash of $39,000 from customers in (a) above. accounts receivable $5,700 equipment $7,700, A:The company has provided details for the month of June. Enter the email address you signed up with and we'll email you a reset link. Required 1. d. Pay utilities of $4,000 for the current month. (A) Insurance expired during May is 275. $$ b. c. Purchase bike equipment by signing a note with the bank for $35,000. Analyze each transaction and indicate . is this form The principal decides to substitute popular music for the bell to indicate the end of each class period. Prepare an adjusted trial balance. Provide services, A:Solution: Doc Preview. No. Transactions: HEEELP !!!. Abd El Hakim operates a. Find step-by-step Accounting solutions and your answer to the following textbook question: The following transactions occur for Badger Biking Company during the month of June: a. d. Pay utilities of $4,400 for the current month. 504 (Utilities Expense). Assets = Liabilities + Stockholder's Equity. 5. Purchase bike equipment by signing a note with the bank for $32,000. On, A:Note 1: Cash A/c, office supplies, Accounts receivable, Land and office equipment are assets and, Q:The following transactions relates to Edwards Co for the month of January 2013. Cash receipts received by the company but not yet recorded by the bank. 5. 2015. c. Bought supplies on account, 225. d. Bought a truck for 18,000, paying 1,000 in cash and placing the remainder on account e. Bought Insurance for the truck for the yean 1,400, Ck. Purchased supplies on account, 4,000. c. Paid creditors on account, 2,300. d. Received cash from fees earned on insurance commissions, 13,800. e. Paid rent on office and equipment for the month, 5,000. f. Paid automobile expenses for the month, 1,150, and miscellaneous expenses, 300. g. Paid office salaries, 2,500. h. Determined that the cost of supplies on hand was 2,700; therefore, the cost of supplies used was 1,300. i. Analyze each transaction and indicate the amount of. Provide services to customers on account for $34,000. Calculate net revenue associated with these transactions. 93% (141) Prepaid insurance 4,000 Cash 4,000 c. Equipment 17,500 Cash 17,500 d. Cash 24,000 Notes payable 24,000. \hline \text { A: } 90 \text { or above } & 10 \\ d. Pay utilities of $3,500 for the current month. a. Gervais deposited 25,000 in a bank account in the name of the business. Study with Quizlet and memorize flashcards containing terms like The following transactions occur for Badger Biking Company during the month of June: a. The following transactions occur for Badger Biking Company during the month of June: a. 501 (Rent Expense). You'll get a detailed solution from a subject matter expert that helps you learn core concepts. a. Gervais deposited 25,000 in a bank account in the name of the business. 1202. e. Bought supplies on account from Wigginss Distributors, 535. f. Sold services for cash, 1,742. g. Bought insurance for one year, 1,375, Ck. Pay utilities of $4,000 for the current month. Togo's Sandwiches acquired equipment on October 1, 2018, for $12,500. Provide services to customers on account for $50,000. Instructions 1. on Consulting, which began, A:A balance sheet is a financial statement that details a company's assets and liabilities at a, Q:The following are the account balances for Facci Company on December 31. Determine the account balances, after all posting is complete. (Income Summary is account #34 in d1e chart of accounts.) Paid cash for a newspaper advertisement, 225. Note: If the transaction were to cause an increase and decrease to the same area of the accounting equation, 'no effect should be chosen as the overall effect to that area. Arthur Industries entered into the following transactions during the month of June. Q:For each transaction below, calculate the amount of revenue to be recognized in June using, A:As per cash basis of accounting, we should record the transaction only when corresponding cash is, Q:[The following information applies to the questions displayed below.] b. Legal and physical access shall be established prior to any development. 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