Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. murphy delivery service completed the following tr

Murphy Delivery Service completed the following transactions during December 2024: Murphy Delivery Service began operations...

90.2K

Verified Solution

Question

Accounting

image

Murphy Delivery Service completed the following transactions during December 2024: Murphy Delivery Service began operations by receiving $13,000 cash and a Dec. 1 truck with a fair value of $9,000 from Russ Murphy. The business issued Murphy shares of common stock in exchange for this contribution. 1 Paid $600 cash for a six-month insurance policy. The policy begins December 1. 4 Paid $750 cash for office supplies. 12 Performed delivery services for a customer and received $2,200 cash. 15 Completed a large delivery job, billed the customer, $3,300, and received a promise to collect the $3,300 within one week. 18 Paid employee salary, $800. 20 Received $7,000 cash for performing delivery services. 22 Collected $2,200 in advance for delivery service to be performed later. 25 Collected $3,300 cash from customer on account. 27 Purchased fuel for the truck, paying $150 on account. (Credit Accounts Payable) 28 Performed delivery services on account, $1,400. 29 Paid office rent, $1,400, for the month of December. 30 Paid $150 on account. 31 Cash dividends of $2,500 were paid to stockholders

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

Medical Sciences
1.2K views

1. A patient has a genetic defect causing them to have very few functional gastric D...

Physics
1.2K views

Which of the following best indicates the components of a vector that measures 30 m at...

Advance Math
1.2K views

Factor the following polynomials as a product of irreducible in the given polynomial ring. A. p(x)=2x^2+3x-2 in...

Advance Math
1.2K views

Let G(x,t) be the Green's function satisfying           G"(x,t) + G(x,t) = ?(x-t) with G(0,t) = 0 and...

Biology
1.2K views

Dr Chung is a biologist who works on diseases of the liver She is studying...

Biology
1.2K views

In a group of cucumber plants, some individuals have bumpy fruit and others have smooth...

Statistics
1.2K views

Sugar content A broth used to manufacture a pharmeceutical product has its sugar content in...

Algebra
1.2K views

With the data provided in the following table it is requested a Calculate the marginal...

Accounting
1.2K views

Answer all questions in this section. QUESTION 1 [100 MARKS] REQUIRED (20 Marks) Study the...

Accounting
1.2K views

aterway Industries reported the following year-end information: ow much is Waterway's cost of goods manufactured...

Accounting
1.2K views

Job order and Process costing are systems that management wants to know not only how...

Accounting
1.2K views

PESTEL Analysis 1. Political factors 2. Economic factors 3. Social factors 4. Technological factors 5....