Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A d unt bance at the end of the dar 17 $ 50 What is the Accounts payable account balance at the end of the

image text in transcribed
A d unt bance at the end of the dar 17 $ 50 What is the Accounts payable account balance at the end of the day? 182000 What is the Deferred revenue account balance at the end of the day? 19. $ 0 O What is the Service revenue account balance at the end of the day? 20 $_2000_What is the Advertising expense account balance at the end of the day? Use the following to answer questions 21 - 27 DEA LOR LIABILITIES & INCOME STATEMENT ASSETS STOCKHOLDERS' EQUITY ACCOUNTS A. Cash F. Accounts Payable K. Service Revenue B. Accounts Receivable G. Salaries Payable L. Advertising expense C. Supplies H. Deferred revenue M. Rent Expense D. Prepaid advertising I Notes Payable N. Salaries/Wage expense E. Equipment J. Retained Earnings O Utilities expense February 1" transaction is completed as an example: Only include the letter of the account not the account name Date Transaction AMOUNT February 01 (ex) Paid an Accounts Payable $125 February 2 Collected from customers for sales made in January 25,000 February 7 Paid employees for work performed in January 20,000 February 14 Purchased supplies on account 1,000 February 15 Provided services to cash customers 30,000 February 28 Recorded salaries for February, will pay in March 19,000 February 28 Received cash in advance from customers will provide service later 5,000 Date Account Debit Credit FEB 1 F Account payable (L) Cash (A.) 21. Feb 2 2 SODO 25000 22. Feb 7 20,000 20,000 23. Feb 14 11.000 1 000 24. Feb 15 1300DD 30000 25 Feb 28 110 DO 19.000 26. Feb 28 Sobo SOOD > 125 Iz Cash 125 2000 27. $49165 of January 31st cash was $10,000, what is the cash balance at the end of the day on 2/28? (Make sure to include the Feb 1 example) 25000 10000 30 boo 501 Page 2-3 Chapter 2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting For Decision Makers

Authors: Peter Atrill, Eddie McLaney

9th Edition

1292251255, 9781292251257

More Books

Students also viewed these Accounting questions

Question

=+c) Which model fits better?

Answered: 1 week ago