Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. whispering repair shop had the following transacti

Whispering Repair Shop had the following transactions during the first month of business as a...

60.1K

Verified Solution

Question

Accounting

image
image
Whispering Repair Shop had the following transactions during the first month of business as a proprietorship. 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 automaticall indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Aug. 2 Invested $11,360 cash and $2,540 of equipment in the business. 7 Purchased supplies on account for \$450, (Debit asset account.) 12 Performed services for clients, for which $1.199 was collected in cash and $685 was billed to the clients. 15 Paid August rent $554. 19 Counted supplies and determined that only $261 of the supplies purchased on August 7 are still on hand. Date Account Titles and Explanation Debit Credit Aug 2 Aug 7 450 Aue 12 Aug 15 554 Aug 19

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

Calculus
1.2K views

You leave your house and run 6 miles due west followed by 4 5 miles...

Biology
1.2K views

1. Using the equation for the Hardy-Weinberg Equilibrium, calculate the following for p=0.7 and q=0.3 and...

Finance
1.2K views

what is the benefit of implementing a global account strategy?

Physics
1.2K views

In the Daytona 500 auto race, a Ford Thunderbird and a Mercedes Benz are moving side...

Advance Math
1.2K views

Using the pigeonhole theorem prove that any set of 220 10-character strings over the alphabet {a,b,c,d}...

Biology
1.2K views

3 3 Which of the following describes a mutation in a parent that could change...

Statistics
1.2K views

The time it takes me to wash the dishes is uniformly distributed between 9 minutes...

Calculus
1.2K views

Let f(x)HoMINIMAThen f'(x)b-|9 sin r2 sin x + 6 cos xThe equation of the tangent...

Accounting
1.2K views

9-5B Comprehensive Variance Analysis Problem Smithco produces a plastic furniture set for outdoor use. The...

Accounting
1.2K views

Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year....

Accounting
1.2K views

Pisa, Inc. leased equipment from Tower Company under a four-year lease requiring equal annual payments...

Finance
1.2K views

Assume the following info about Nguyen Inc.: State of Economy Probability of Reture Occurance Boom...