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Tuesday, 17 September 2013

The transactions of Dexter Company: a. Macy Dexter, owner, invested $10,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $305 cash. c. The company purchased $5,807 of office equipment on credit. d. The company received $1,239 cash as fees for services provided to a customer. e. The company paid $5,807 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,226 as fees for services provided. g. The company paid $510 cash for the monthly rent. h. The company collected $935 cash as partial payment for the account receivable created in transaction f. i. The company paid $1,000 cash for dividends. Prepare the Trial Balance. Use May 31, 2011, as its report date.

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The transactions of Dexter Company:      a. Macy Dexter, owner, invested $10,500 cash in the company in exchange for common sto...

The transactions of Dexter Company: a. Macy Dexter, owner, invested $18,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $537 cash. c. The company purchased $10,231 of office equipment on credit. d. The company received $2,183 cash as fees for services provided to a customer. e. The company paid $10,231 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $3,922 as fees for services provided. g. The company paid $510 cash for the monthly rent. h. The company collected $1,647 cash as partial payment for the account receivable created in transaction f. i. The company paid $1,000 cash for dividends. Prepare general journal entries to record the transactions above: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common stock; Dividends; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries.

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The transactions of Dexter Company:   a. Macy Dexter, owner, invested $18,500 cash in the company in exchange for common stock. ...

Following are the transactions of a new company called Pose for Pics. Aug. 1 Kasey Madison, the owner, invested $6,000 cash and $25,800 of photography equipment in the company in exchange for common stock. 2 The company paid $2,300 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $1,140 cash. 20 The company received $2,000 cash in photography fees earned. 31 The company paid $872 cash for August utilities. Prepare general journal entries for the above transactions.

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Following are the transactions of a new company called Pose for Pics. Aug. 1   Kasey Madison, the owner, invested $6,000 cash an...