Paid $400 for office supplies

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Web5. Purchased additional office equipment on account from Office Station Co., $6,500. 6. Received cash from clients on account, $15,300. 10. Paid cash for a newspaper advertisement, $400. 12. Paid Office Station Co. for part of the debt incurred on July 5, $5,200. 12. Recorded services provided on account for the period July 1–12, $13,300. 14. WebStudy with Quizlet and memorize flashcards containing terms like Received cash of $8,000 from issurance of common stock., Earned video rental revenue on account, $1,800, …

Purchased office supplies for $1,400. Cash paid $ 400 and …

WebNov 19, 2024 · Paid Cash for Supplies Journal Entry Example. For example, suppose a business purchases supplies such as paper towels, cleaning products and other consumables for a total amount of 50, and pays for the items with cash. The purchase of supplies for cash is recorded in the accounting records with the following bookkeeping … WebOffice Supplies – An Explanation. Office Supplies include copy paper, toner cartridges, stationery items, and other miscellaneous desk supplies. Given that many items are included in the office supplies, it is hard to keep accounts and manage inventory for all of them individually. Therefore, there is a need to club all these items under one ... prolapse ovulation pain

Accounting Principles-Lecture 3 - Accounting Principles ... - Studocu

WebTranscribed Image Text: Purchased office furniture on account, $4,200. The furniture should last for five years. 4 5 Purchased office supplies on account, $900. 9 Performed … WebIn this case, we can determine that the office supplies used up during the period with the formula as below: Office supplies used = Beginning office supplies + Bought-in office … WebOct 4, 2024 · As the supplies on hand are normally consumable within one year they are recorded as a current asset in the balance sheet of the business. Purchase Office … proleukin ema

Journal Entry Problems and Solutions - Format - Examples

Accounting Q and A: PR 2-4B Journal entries and trial balance

WebFor example, on March 18, 2024, the company ABC purchases $ 1,000 of office supplies by paying with cash immediately. In this case, the company ABC can make the journal entry for the paid cash for supplies on March 18, 2024, as below: On March 19, 2024, the company … Statement of Cash Flows What is Statement of Cash Flows? Statement of cash flows … Why Cash is High-Risk. There are many reasons why cash is usually considered a … Cash Credit. Cash credit is the line of credit that allows company to borrow money … Semi Variable Cost Semi Variable cost, also known as mixed cost, is the cost which … Agreed Upon Procedures Overview Agreed-upon procedures engagement is a type … Method of Evaluating Capital Investment Proposals Capital Investment is the … Unearned revenue is a liability account which its normal balance is on the credit … Individualized Ad Experiences Using Ezoic Technology. Ezoic is a powerful machine … Web• Sue K ojima opened a law office on July 1, 2014. ... the . balance sheet showed Cash $5,000, Acc ounts R eceivable $1,500, Supplies $500, E quipment $6,000, Accounts P ay able $4,200, and . ... Purchased additional equipment f or $2,000,paying $400 in cash . and the balance on account. 5. Paid salaries $2,500, ren t for August $900, and ... prolia haittavaikutuksetWebA company purchased $400 of office supplies on account during May. All the supplies were used in May, and the account was paid during June. What would the impact of these … prolia 60 mg kokemuksia

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Paid $400 for office supplies

Adjusting Entry for Supplies Expense Calculation and Example

WebThe office supplies account of Springer Company had a balance at the beginning of 2013 of P80, before the reversing entry. ... Artesla Company paid P110,400 on June 1, 2016 for a one-year insurance policy and recorded the entire amount in a nominal account. WebJan 27, 2024 · Paid Cash on Account Bookkeeping Explained Debit. The amount is debited to the accounts payable account of the supplier to record the fact that the cash has been paid to them. It will later be allocated to an invoice posted on the account of the supplier. Credit. Cash has been paid by the business and needs to be credited to the asset account ...

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WebPS Music’s chart of accounts and the balance of accounts as of July 1, 2024 (all normal balances), are as follows: 11 Cash $3,920 41 Fees Earned $6,200 12 Accounts Receivable 1,000 50 Wages Expense 400 14 Supplies 170 51 Office Rent Expense 800 15 Prepaid Insurance — 52 Equipment Rent Expense 675 17 Office Equipment — 53 Utilities Expense … Web1,600 jobs available in Township of Fawn Creek, KS on Indeed.com. Apply to Cyn404-usa-feature, Legal Secretary, Assembler and more!

WebA company is considering replacing an old piece of machinery, which costs $600,000 and has$350,000 of accumulated depreciation to date, with a new machine that costs …

WebThe new accounting equation would be: Assets $30,200 (Cash $13,900 + Supplies $500 + Prepaid Rent $1,800 + Equipment $5,500 + Truck $8,500) = Liabilities $200 + Equity $30,000. 7. Selling services for cash. During the month of February, Metro Corporation earned a total of $50,000 in revenue from clients who paid cash. WebFeb 21, 2024 · Example. The Green Company purchased office supplies costing $500 on 1 January 2016. Out of this, supplies costing $150 remained unused on 31 December 2016. Required: In the company's books: Make a journal entry on 1 January 2016, when the office supplies are purchase. Make an adjusting entry on 31 December 2016 to record the …

WebSep 19, 2024 · If you initially record office supplies as an asset, they become an expense when you use them. In that case, you would make an adjusting entry in your accounting records at the end of the ...

WebIn this case, we can determine that the office supplies used up during the period with the formula as below: Office supplies used = Beginning office supplies + Bought-in office supplies – Ending office supplies. Office supplies used = 1,000 + 800 – 500 = 1,300. Likewise, the company ABC can make the journal entry for $1,300 of the office ... prolia injektio haittavaikutuksetWebNov 13, 2024 · Cash paid $ 400 and remaining outstanding. - Brainly.com. 11/13/2024. Business. College. answered. Purchased office supplies for $1,400. Cash paid $ 400 and … prolia hampaan poistoWebB. P 400. C. P 900. D. P 500. Transcribed Image Text: A count of the petty cash fund having an imprest balance of P10,000 of Reyes Corp. showed its composition as follows: Currency and coins 2,900 Paid vouchers: Transportation Gasoline Office supplies Postage stamps Due from employees NSF check returned by bank Check drawn by the company to the ... prolia ja hammashoitoWebMay 11, 2016 · Example. The Green Company purchased office supplies costing $500 on 1 January 2016. Out of this, supplies costing $150 remained unused on 31 December 2016. … prolia 60 mg haittavaikutuksetWebThe new accounting equation would be: Assets $30,200 (Cash $13,900 + Supplies $500 + Prepaid Rent $1,800 + Equipment $5,500 + Truck $8,500) = Liabilities $200 + Equity … prolia hyperkalsemiaWebAccounting questions and answers. + Ch 2 Learning Assignment Question 2 of 4 < > - 75 TIT 1. 2. 3. Cash is paid for the purchase of $400 of office supplies. Customer is billed $1,000 … proletariaat synoniemWebCash and Cash Equivalent Problem 1 Timex Company reported petty cash fund which comprised the following: Coins and currency 3,300 Paid vouchers: Transportation 600 Gasoline 400 Office Supplies 500 Postage stamps 300 Due from employees 1,200 3,000 Manager’s check returned by the bank marked “NSF” 1,000 Check drawn by the entity to … prolia joint pain