ZUZO This Question: 80 pts 1 of 5 (4 complete) CASE 1 John Davidson started her practice as a registered interior designer on February of the current year. During the fast month of operations, the business completed the folowing framacion Feb 3 Davidson contributed 522000 cash and office furniture with a fair market value of 6500 from her personal bank account to beness accountitled John Dwvision Distan Feb 7 Purchased supplies on account 5700 Feb 11 Perfomed services for a hospital 2.100, received 5800 Immediately in cash and submitted a bit for the rest of the amount, 51300 -Feb 15 Pald secretary's salary $550 Feb 20 Received partial collection from client on account 5600 (issued on Feb 11) Feb 22 Davidson purchased a computer for himself at a cost of $2.000 paid cash from personal funds. Feb23 The Business received 5 2000 for Interior services to be performed next month -Feb 25 Borrowed $14000 from the bank for business use Heu 22 DVIUSUI purchaseu d Computer TUI Tell al d LUSIUI 32,000, palu CdSI UN PUISUNDI JUMUS. Feb23 The Business received $ 2000 for interior services to be performed next month Feb 25 Borrowed $14000 from the bank for business use 1) Refer to case 1 After all of the transactions, How much is the Debit or Credit balance in the trial balance? (write your result in to the answer box below) Answer. 2) Refer to case 1 After all of the transactions, how much is the Total Assets? (write your result in to the answer box below) Answers 3) Refer to case 1After all of the transactions, How much is the A/P balance in the trial balance? [wnte your result in to the answer box below) Answer: Click to select your answer(s). DI 63 TULI JUNI Current year. During the firs Chubuted 582000 cash and office furniture with a fair market value of $ 6500 from her personal bank acco -Feb 7 Purchased supplies on account, $700 -Feb 11 Performed services for a hospital $2100, received 5800 immediately in cash and submitted a bill for the rest of the an -Feb 15 Paid secretary's salary, $550 -Feb 20 Received partial collection from client on account $600 (issued on Feb 11) -Feb 22 Davidson purchased a computer for himself at a cost of $2,000, paid cash from personal funds. . Feb23 The Business received $ 2000 for interior services to be performed next month -Feb 25 Borrowed $14000 from the bank for business use Answer. I 4) Refer to case 1After all of the transactions. How much is the cash balance at the end of the period? (write your result in to the answer box below) Answer 5) Refer to case 1After all of the transactions, How much is the Revenue balance? (wnte your result in to the answer box below) Answer 6)Refer to case 1After all of the transactions, How much is the Net Income? (wnte your result in to the answer box below Answer II Click to select your answers) O O BI mas DAL Mediately in cash and submitted a bill forth Jeweldlys salary. $550 -Feb 20 Received partial collection from client on account $600 (issued on Feb 11) -Feb 22 Davidson purchased a computer for himself at a cost of $2,000, paid cash from personal funds. Feb23 The Business received $ 2000 for interior services to be performed next month Feb 25 Borrowed $14000 from the bank for business use 7)Refer to case 1After all of the transactions, How much is the Total Liabilities? (write your result in to the answer box below) Answer: 8) Refer to case 1 Which of the following is journal entry for Feb 20? O A. Cash 600 Revenue 600 B. none of them C. Cash 600 AR 600 OD. Revenue 600 Cash 600 Click to select your answers L 100. Tecerved 5800 immediately in cash and submitted a bill for the rest of the amoun J Pald secretary's salary, $550 -Feb 20 Received partial collection from client on account $600 (issued on Feb 11) Feb 22 Davidson purchased a computer for himself at a cost of $2,000 paid cash from personal funds. Feb23 The Business received 2000 for interior services to be performed next month Feb 25 Borrowed 514000 from the bank for business use 9) Refer to case 1 Which of the following is journal entry for Feb 222 OA. No effect OB. Expenses 2000 Cash 2000 OC. none of them D. Cash 2000 Revenue 2000 O E Egipment Cash 2000 2000 Click to select your answer(s) 63 DIL
