Journalize the july transactions

Assignment Help Accounting Basics
Reference no: EM13856450

Problem: Mike Greenberg opened Clean Window Washing Inc, on July 1, 2014.During July, the following transaction were completed.

July:

1. Issued 12,874 shares of common stock for $12,874 cash.

1. Purchased used truck for $8,874, paying $2,206 cash and the balance on account.

3. Purchased cleaning supplies for $939 on account.

5. Paid $2,280 cash on a one year 1-year insurance policy effective July 1.

12. Billed customers $4,890 for cleaning services.

18. Paid $1,084 cash on amount owed on truck and $504 on amount owed on cleaning supplies.

20. Paid $2,256 cash for employee salaries.

21. Collected $1,688 cash from customers billed on July 12.

25. Billed customers $2,641 for cleaning services.

31. Paid $384 for maintenance of the truck during month.

31. Declared and paid $638 cash dividend.

Required:

Journalize the July transactions.

Reference no: EM13856450

Questions Cloud

Who would gain or lose from the double-r halts operations : Who would gain or lose from the Double-R halts operations, sells its fixed assets for $6, and converts net working-capital into $20 cash. It invests its $26 in Treasury bills.
Articles on handling project conflict management : Conduct research using the CSU Online Library, and find at least two articles on handling project conflict management. In your paper, identify the different styles you found in your research, and compare and contrast each style
How has the current financial crisis in greece : How has the current financial crisis in Greece affected exchanges rates (USD-€)? How would this affect your US company if you were importing from Greece? Exporting to Greece?
How important is the terminal growth rate to overall value : State your observations from the sensitivity analysis. How important (conceptually) is the terminal growth rate to overall value? How important is the WACC to overall value?
Journalize the july transactions : Problem: Mike Greenberg opened Clean Window Washing Inc, on July 1, 2014.During July, the following transaction were completed.
Find the new equilibrium and compare : how each scenario would affect the price of khaki pants.
What is the definition of poverty : What is the definition of poverty? What the factors and characteristics of poverty? Define the difference between wealth and income? Is poverty linked to the government? Why or Why not
What is the expected forward exchange rate one year from now : What is the expected forward exchange rate 1 year from now? If Solitaire undertakes the project, what is the net present value and rate of return of the project for Solitaire?
Explain what is meant by a risk-free rate : How do statisticians typically measure GDP in service sectors (reading previous chapters may help answer this). Why are fees traditionally important. Why do fees not help in the financial sector. What is meant by FSIM. What does it try to measure. ..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Problem related to operating income change

Variable costs as a percentage of sales for Leamon Inc. are 75%, current sales are $600,000, and fixed costs are $110,000. How much will operating income change if sales increase by $40,000?

  Stinehelfer beet processors inc processes sugar beets in

stinehelfer beet processors inc. processes sugar beets in batches. a batch of sugar beets costs 56 to buy from farmers

  Source of nonauthoritative guidance

Which of the following does the FASB consider a source of nonauthoritative guidance for use then there is no authoritative guidance available?

  Maude flanders dead leaves 10000 in her will to her

maude flanders dead leaves 10000 in her will to her neighbor marge simpson. the will requires marge to use a portion of

  Components of the common body of tax law

Describe the components of the common body of tax law (CBOTL). Include in your response answers to the following questions:

  Determine the amount to be paid within the discount period

determine the amount to be paid within the discount period for purchase with an invoice price of 7745 subject to credit

  A companys gross profit rate is 30 of sales expected

a companys gross profit rate is 30 of sales. expected january sales are 78000 and desired january 31st inventory is

  Ecos founder marion cosby developed a biodegradable plastic

since its inception eco plastics company has been revolutionizing plastic and trying to do its part to save the

  The operations vice president of first bank of eagle

the operations vice president of first bank of eagle kristin wu has been interested in investigating the efficiency of

  Mikes agi is 120000 before any of the above expenses are

mike incurs the following employment-related expenses in the current yearactual automobile expenses 2500moving

  Suppose the manufacturer of running shoes has collected the

suppose the manufacturer of running shoes has collected the following quantitative information. demand for the boys

  Lucia ltd reported net income of 136400 for the year ended

lucia ltd. reported net income of 136400 for the year ended december 31 2013. january 1 balances in accounts

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd