Question

Helfrey Marketing Services uses the listed accounts. 1. Prepare two T accounts for each transaction. On...

Helfrey Marketing Services uses the listed accounts. 1. Prepare two T accounts for each transaction. On each T account, select the account title of one of the accounts affected by the transaction. 2. Enter the debit or credit amount in each T account to show the transaction’s effect.

account titles:

Cash Supplies Prepaid Insurance Accounts Receivable-Neco Valenza Accounts Payable-All Star Company Sawyer Helfrey, Capital Sawyer Helfrey, Drawing Sales Advertising Expense Rent Expense

transactions:

Jun. 11. Received cash from sales, $22,000.00. 12. Paid cash for advertising, $1,500.00. 14. Sold services on account to Neco Valenza, $17,000.00. 18. Paid cash to owner for personal use, $5,000.00. 19. Received cash on account from Neco Valenza, $10,000.00.

Homework Answers

Answer #1

June 11:

June 12:

June 14:

June 18:

June 19:

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Helfrey Marketing Services uses the listed accounts. Prepare two T accounts for each transaction. On each...
Helfrey Marketing Services uses the listed accounts. Prepare two T accounts for each transaction. On each T account, select the account title of one of the accounts affected by the transaction. Enter the debit or credit amount in each T account to show the transaction’s effect. Account titles: Cash Supplies Prepaid Insurance Accounts Receivable-Neco Valenza Accounts Payable-All Star Company Sawyer Helfrey, Capital Sawyer Helfrey, Drawing Sales Advertising Expense Rent Expense Transactions: Jun.1.Received cash from owner as an investment, $10,000.00.2.Paid cash...
Gardens Plus uses the listed accounts. The T accounts have been prepared for you. Analyze each...
Gardens Plus uses the listed accounts. The T accounts have been prepared for you. Analyze each transaction into its debit and credit parts. Enter the debit and credit amounts in the proper T accounts to show how each transaction changes account balances. Enter the date of the transactions before each amount. (Hint: You must enter the transactions in the order in which they are listed.) account titles: Cash Accounts Receivable-Lee Chen Accounts Receivable-Ginger McCure Supplies Prepaid Insurance Accounts Payable-West End...
Question 2: In a double entry accounting system, each transaction affects at least two different accounts....
Question 2: In a double entry accounting system, each transaction affects at least two different accounts. For the following transactions identify the two accounts and what type of account is each, asset, liability, or equity account. (40 points, 1 point per answer) 1.       On August 1, Madison Harris, the owner invested $6,500 cash into the company. Name of Accounts Affected: Type of Account: Cash asset Owner capital equity 2.       On August 5, the company purchased Office Supplies for $800 on...
For each transaction, identify which account is debited and which account is credited. Use proper account...
For each transaction, identify which account is debited and which account is credited. Use proper account titles (Cash, Accounts Receivable, etc). Transaction Debit Credit Received cash on account from a customer Paid dividends to stockholders Purchased office supplies on account Received cash from customers for services to be performed next month Paid employee's salary Received a bill for utilities to be paid next month Performed services on account Paid cash for a 12-month insurance policy, coverage starting next month Paid...
what transation does the questions fall into Cash   +   Accounts Rec   +   Office Supplies   +   Prepaid...
what transation does the questions fall into Cash   +   Accounts Rec   +   Office Supplies   +   Prepaid Insurance   =   Accounts Payable   +   Capital   -   Drawing   +   Revenues   -   Expenses Cash was invested in business, $35,000 Bought supplies on account, $1,150. Bought a truck $2,500; $750 in cash and rest on account. Paid telephone bill, $85. Received cash from clients for delivery fees, $3,750 Paid part-time wages for month, $250. Made partial payment for truck from transaction (c), $1,050. Withdrew cash for...
Interstate Delivery Service is owned and operated by Katie Wyer. The following selected transaction were completed...
Interstate Delivery Service is owned and operated by Katie Wyer. The following selected transaction were completed by Interstate Delivery Service during May: 1. Received cash from owner as additional investment, $18,000. 2. Paid advertising expense, $ 4,850. 3. Purchased supplies on account, $2,100. 4. Billed customers for delivery services on account, $14,700. 5. Received cash from customer on account, $8,200. Indicate the effect of each transaction on the accounting equation elements ( Assets, Liabilities, Owner’s Equity, Drawing, Revenue, and Expense)....
1. For each of the following accounts, indicate the effects of (a) a debit and (b)...
1. For each of the following accounts, indicate the effects of (a) a debit and (b) the normal account balance.             1.         Notes Payable             2.         Prepaid Insurance             3.         Salaries and Wages Expense             4.         Service Revenue             5.         Equipment             6.         Share Capital-Ordinary 2. Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions.    1.   The company issues ordinary shares in exchange for ₤25,000 cash.   ...
1. Prepare general journal entries for the following transaction of Valdez Services. a. The company paid...
1. Prepare general journal entries for the following transaction of Valdez Services. a. The company paid $15,000 cash for payment on a 16-month-old liability for office supplies. b. The company paid $1,300 cash for the just completed two-week salary of the receptionist. c. The company paid $38,000 cash for equipment purchased. d. The company paid $500 cash for this month’s utilities. e. Owner (B. Valdez) withdrew $4,800 cash from the company for personal use. 2. Transactions a, c, and e...
The given transactions were completed by Juliet's Delivery Services during May 2019. Indicate the effects of...
The given transactions were completed by Juliet's Delivery Services during May 2019. Indicate the effects of each transaction by placing the appropriate letter in the space provided. Letter Result A Increase in asset, decrease in another asset B Increase in asset, increase in liability C Increase in asset, increase in owner's equity D Decrease in asset, decrease in liability E Decrease in asset, decrease in owner's equity Response Transaction Received cash for providing delivery services. Paid amount owing that was...
Entries into T accounts and Trial Balance Ken Jones, an architect, opened an office on April...
Entries into T accounts and Trial Balance Ken Jones, an architect, opened an office on April 1, 2019. During the month, he completed the following transactions connected with his professional practice: Transferred cash from a personal bank account to an account to be used for the business, $18,000. Purchased used automobile for $19,500, paying $2,500 cash and giving a note payable for the remainder. Paid April rent for office and workroom, $3,150. Paid cash for supplies, $1,450. Purchased office and...