nation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplie en credits. Select the explanation on the last line of the journal entry table.) i More Info Jul. 2 Received $14,000 contribution from Brian Laughton in exchange for common stock. 4 Paid utilities expense of $370. 5 Purchased equipment on account, $2,000. 10 Performed services for a client on account, $2,000. 12 Borrowed $6,700 cash, signing a notes payable. 19 Cash dividends of $700 were paid to stockholders. 21 Purchased office supplies for $810 and paid cash. 27 Paid the liability from July 5. Print Done then continue to the next question. WITH Bujmal entry. Use the following accounts: Cash; A UIVIUUMUS; Service Revenue; Utilities Expense. (Record debits first, then credits. Select the explanation on the last line of the journal ent July 2: Received $14,000 contribution from Brian Laughton in exchange for common stock. Date Accounts and Explanation Debit Credit Jul. 2 July 4: Paid utilities expense of $370. Date Accounts and Explanation Debit Credit Jul. 4 July 5: Purchased equipment on account, $2,000. Choose from any list or enter any number in the input fields and then continue to the next question. The following extract was taken from the worksheet of Special Events Bakers for the year 2019. Special Events Bakers Worksheet December 31, 2019 Unadjusted Trial Balance Debit Account Names Credit Cash $6,800 Equipment 15,300 Accumulated Depreciation - Equipment $8,100 Adjusted Trial Balance Debit Credit $6,800 15,300 $10,000 For the above information, determine the amount of Depreciation Expense for the equipment used in the business. O A $10,000 O B. $5,300 O C. $1,900 OD. $3,200 Click to select your answer. The total assets and the total liabilities of Atlas Financial Services are shown below. The company issued no common stock and paid no dividends during the year. Total Assets Total Liabilities Beginning of year $420,000 $295,000 End of year 450,000 305,000 What was the amount of net income for the year? O A. $30,000 OB. $20,000 OC. $40,000 OD. $10,000 Click to select your answer. Jackson Services, Inc, earned revenues of $108,000, incurred expenses of $115,000, and paid dividends of $10,000. Which of the following statements is correct? O A Jackson has incurred a netloss of $3,000 OB. A debit is needed to zero out the balance of the Income Summary account O C. When compared to a business that camned net income, the only closing entry that differs is the one to close dividends OD Retained Earnings will decrease $17,000. Click to select your answer. A company has $110,000 in current assets, 5000,000 in total assets, $80,000 in current abilities, and $140,000 in total abilities Calculate the current ratio of the company Round your answer to two decimal places) OA 138 OB. 162 OC. 1.73 OD. 0.70 Click to schoot your
