70.2K

Verified Solution

Question

Accounting

10 image
6
image
image
11
image
10 The following transactions occurred during July 1. Received $1,040 cash for services provided to a customer during July 2. Received $4,800 cash investment from Bob Johnson, the owner of the business 3. Received $890 from a customer in partial payment of his account receivable which arose from sales in June. 4. Provided services to a customer on credit, $515. 5. Borrowed $7,400 from the bank by signing a promissory note. 6. Received $1,390 cash from a customer for services to be rendered next year What was the amount of revenue for July? 1.25 points Swipped Multiple Choice 52.945 S1000 Saved Help Save & Exit Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and were recorded in th company's books: 1. Andrea invested $13,600 cash in the business in exchange for common stock 2. Andrea contributed $21,000 of photography equipment to the business in exchange for common stock 3. The company paid $2,200 cash for an insurance policy covering the next 24 months. 4. The company received $5,800 cash for services provided during January 5. The company purchased $6,300 of office equipment on credit. 6. The company provided $2,850 of services to customers on account 7. The company paid cash of $1,600 for monthly rent. 8. The company paid $3,200 on the office equipment purchased in transaction #5 above. 9. Pald $285 cash for January utilities Based on this information, the amount of total stockholders equity-reported on the Balance Sheet at the end of the month would be: ted ebook Pri Multiple Choice 540365 140400 SGS 6 8. The company paid $3,200 on the office equipment purchased in transaction #5 above. 9. Pald $285 cash for January utilities. Based on this information, the amount of total stockholders' equity-reported on the Balance Sheet at the end of the month 125 points Skipped Multiple Choice look $41,365, Paint $40,400 References $31865 o $32.350. $32.800 Sawod Larry Bar opened a frame shop and completed these transactions: 1. Larry started the shop by investing $40,600 cash and equipment valued at $18,600 in exchange for common stock. 2. Purchased $130 of office supplies on credit. 3. Paid $1,800 cash for the receptionist's salary. 4. Sold a custom frame service and collected $5,100 cash on the sale. 5. Completed framing services and billed the client $260. What was the balance of the cash account after these transactions were posted? pped Multiple Choice Book Print $43,900 Reference 544360 144030 SI 570

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students