Ken Jones, an architect, opened an office on April 1, 2019. During the month, he completed the following transactions connected with his professional practice:
a. Transferred cash from a personal bank account to an account to be used for the business, $18,000.
b. Purchased used automobile for $19,500, paying $2,500 cash and giving a note payable for the remainder.
c. Paid April rent for office and workroom, $3,150.
d. Paid cash for supplies, $1,450.
e. Purchased office and computer equipment on account, $6,500.
f. Paid cash for annual insurance policies on automobile and equipment, $2,400.
g. Received cash from a client for plans delivered, $12,000.
h. Paid cash to creditors on account, $1,800.
i. Paid cash for miscellaneous expenses, $375.
j. Received invoice for blueprint service, due in May, $2,500.
k. Recorded fees earned on plans delivered, payment to be received in May, $15,650.
l. Paid salary of assistant, $2,800.
m. Paid cash for miscellaneous expenses, $200.
n. Paid $300 on note payable.
o. Paid gas, oil, and repairs on automobile for April, $550.
1. Record these transactions directly in the following T accounts without journalizing: Cash; Accounts Receivable; Supplies; Prepaid Insurance; Automobiles; Equipment; Accounts Payable; Notes Payable; Ken Jones, Capital; Professional Fees; Rent Expense; Salary Expense; Blueprint Expense; Automobile Expense; Miscellaneous Expense. To the left of each amount entered in the accounts, place the appropriate letter to identify the transaction.
Five American Airlines flights are randomly selected, and the table in the margin lists the probabilities for the number that arrive on time (based on data from the D...May 22 2021
A 30-year, 9% annual coupon bond was issued 5 years ago. If the yield to maturity is 6%, what is the market price of this bond?Aug 25 2020
You are considering two assets with the following characteristics:E(R1) = 0.15 E(r1) = 0.10 w1 = .50E(R2) = 0.20 E(r2) = 0.20 w2= .50Where E( R) is expected re...Apr 10 2020
Show transcribed image text Money is a rather tight this month, and so you decide to borrow $1.500 from your local loan shark, Mr. E.Z. Loan. He is willing to lend you th...Jun 01 2020
Comiskey Fence Co. is evaluating the extension of credit to a new group of customers. Although these customers will provide $378,000 in additional credit sales, 15 percen...May 14 2020
There is no unique supply curve for a monopoly firm. Why?Jul 09 2021
The Debate Critics contend that GAAP is seriously flawed. Some in the accounting profession go so far as to pronounce financial statements almost completely irrelevant to...May 29 2018
Write a report on Human Right And Its Application On Contemporary Business OrganisationDocument Preview:Order IdOrder TypeCourseworkWords2500Deadline2015-01-19...May 02 2020
4. DETAILS SCALCETIM 11.10.060. Use series to approximate the definite integral I to within the indicated accuracy. I = 6 * * *e=x2 dx (Terror]May 31 2021
Teddy's Pillows has beginning net fixed assets of $477 and ending net fixed assets of $562. Assets valued at $325 were sold during the year. Depreciation was $54. What is...Aug 16 2020