Issued Invoice No. Issued Check No. Transactions related to purchases and cash payments completed by Happy Tails Inc. during the month of June 2014 are as follows: June 4 Best Friend Supplies Inc. 255 255, 19 Office Helper Inc. 2,670 Office Equipment 18 2,670, 23 347 Best Friend Supplies Inc. 255 255, Total creditor (supplier) accounts $3,780, The total of the creditor accounts on June 30, 2014, $3,780, equals the. Post the purchases journal to the accounts in the general ledger. Using the two special journals and the two-column general journal (p. 1), journalize the transactions for April. Payment cards: Add . Adjustment to record accrued salaries at the end of the period. Sept. 30 Issued Check 1004 for $4,500 to pay the rent for October. Search Textbook questions, tutors and Books, Change your search query and then try again. Check Figure:Revenue journal, total fees earned, $1,170. Purchased office supplies on account from A-One Office Supply Co., $1,320. Cleaning Supplies Dr. Other Accounts Dr. Post. Provide a vertical analysis of the segment revenues for both years. Fixed assets are long-term (i.e., more than one year) assets you use in your operations to generate income. 5. What does this suggest about worldwide supplies of this energy? Purchased pet supplies from Best Friend Supplies Inc. on account, $295. 30 Issued Check 1004 for $4,500 to pay the rent for October. 321 from Pryor Corp. 95 to Trent Co., $6,300. Purchased a vehicle on account from Platinum Motors, $46,700. 1 to J. Dunlop for $115 on account. In this journal entry, the credit of the bank account will reduce the total assets on the balance sheet. Collected advance ticket sales of $28,400 relating to various concerts that were being promoted. Likewise, the total assets on the balance sheet will decrease as a result of this one side of the entry. Keep this key piece of information in mind as we cover journal entries for the assets: When you first purchase new equipment, you need to debit the specific equipment (i.e., asset) account. Check Figure:Accounts Receivable balance, January 31, $10,310. May 31. Issued Check No. Purchased the following from Petro Services Inc. on account: field supplies, $25,300 and office equipment, $5,500. 944 to Ernesto Co., $6,920. In this case, the company ABC can make the journal entry for issuing the check above by debiting $1,000 into the accounts payable and crediting the same amount to the bank account. Identify the journal most likely used in recording the postings for selected transactions indicated by letter in the T accounts, as follows: The following cash receipts journal headings have been suggested for a small service firm. cash - credit, [EALS] LIFE SCIENCE: HISTORICAL DEVELOPMENT O, Accounting: Chapter 5: Adjustments ad the wor, Don Herrmann, J. David Spiceland, Wayne Thomas, Fundamentals of Financial Management, Concise Edition, Daniel F Viele, David H Marshall, Wayne W McManus, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman. If a special journal were used, what type of special journal would be used to record this sales transaction? Issued Check No. Shine Products Inc., $200. Generally, equipment and property fall under the fixed asset category. 2 Transactions related to revenue and cash receipts completed by Augusta Inc. during the month of March 20Y8 are as follows: Prepare a single-column revenue journal and a cash receipts journal to record these transactions. There are selected transactions of Martin Consulting Service - Brainly Ref. 8. What is the entry for "issued check for equipment purchased - Brainly If an electronic form were used, what type of electronic form would be used to record this sales transaction? 12. And, record new equipment on your companys cash flow statement in the investments section. 61 to Dame Co. for $9,750 for cash purchase of equipment. 9. accounts pay. 512 of March 2. Take a look at the following journal entry example: Lets say you sell your asset and end up making money. issued check in payment for supplies purchased on account fees income - credit. Purchased field supplies on account from Omni Co., $1,800. Check Figure:Revenue journal, total fees earned, $2,875. 6. If the cost of the supplies that you have purchased and not yet consumed is significant, then you can instead record them as an asset, using the following entry: Each check has a special number on it which should be recorded into the bookkeeping system.