WebMar 6, 2024 · The normal accounting for supplies is to charge them to expense when they are purchased, using the following journal entry. Debit. Credit. Supplies expense. xxx. … WebA company purchased $505 worth of supplies on account. Prepare the general journal entry to record this transaction. Economy Laundry Company purchased $3,150 of cleaning …
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Web1. A debit of $8,000 should be posted to the Equipment account in the ledger. 2. A credit of $8,000 should be posted to the Equipment account in the ledger. 3. A debit of $8,000 should be posted to the Cash account in the ledger. 4. A credit of $8,000 should be posted to the Cash account in the ledger. 5. WebPurchased cleaning supplies, on account, for $9,600. ... Used $8,400 of the supplies in cleaning operations. DR Cost of goods sold $8,400 CR Inventory $8,400. DR Cost of goods sold $ 8,400 CR Inventory $ 8,400. 5. Collected $124,000 from customers for dry cleaning services provided.
Weboffice supplies were sold by janers cleaning service at cost to another repair shop, ... the purchase of supplies on account was recorded and posted as a debit to Supplies for $500 and a credit to Accounts Receivable for $500. the correcting entry would include a. Web1 Purchased used truck for $12,000, paying $4,000 cash and the balance on Account. 3 Purchased cleaning supplies for $940 on account. 5 Paid $7,200 cash on 1-year insurance policy effective January 1. 12 Billed customers $4,100 for cleaning services. 18 Paid $600 cash on amount owed on truck and $300 on amount owed on Cleaning supplies.
WebProblem 4-5A Anya Clark opened Anya’s Cleaning Service on July 1, 2024. During July, the following transactions were completed. July 1 Anya invested $20,000 cash in the business. 1 Purchased used truck for $12,000, paying $4,000 cash and the balance on account. 3 Purchased cleaning supplies for $2,100 on account. 5 Paid $1,800 cash on 1-year ... WebJul 1, 2024 · 1 Purchased used truck for $8,000, paying $2,000 cash and the balance on account. 3 Purchased cleaning supplies for $900 on account. 5 Paid $ 1800 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,700 for cleaning services performed. 18 Paid $1,000 cash on amount owed on truck and $300 on amount owed on …
WebJul 1, 2024 · 3 Purchased cleaning supplies for $2,100 on the account. 5 Paid $1,800 cash on 1-year insurance policy effective July 1. 12 Billed customers $4,500 for cleaning services. 18 Paid $1,500 cash on amount owed on truck and $1,400 on the amount owed on cleaning supplies. 20 Paid $2,800 cash for employee salaries.
WebAug 6, 2024 · 1 Purchased used truck for $8,000, paying $3,000 cash and the balance onaccount. 3 Purchased cleaning supplies for $1,200 on account. 5 Paid $1,800 cash on one-year insurance policy effective March 1. 14 Billed customers $4,800 for cleaning services. 18 Paid $1,500 cash on amount owed on truck and $500 on amount owed on … intern introduction slideWebPurchased cleaning supplies for $1,200 on the account. 5 : Paid $1,200 cash on a 1-year insurance policy effective March 1. 14 : Billed customers $4,800 for cleaning services. 18 : Paid $1,500 cash on the amount owed on the truck and $500 on the amount owed on cleaning supplies. 20 : Paid $1,800 cash for employee salaries. 21 intern interview tipsWebFeb 18, 2024 · 1 Purchased used truck for $6,560, paying $1,640 cash and the balance on account. 3 Purchased cleaning supplies for $740 on account. 5 Paid $1,440 cash on a 1 … intern in the office showWebOct 27, 2024 · The purchase of supplies on account should have no effect on the accounting equation. As long as the transaction is recorded correctly, both sides of equation should continue to balance out. intern in the ukWebTransaction 12: On January 30, 2024, purchases supplies on account for $500, payment due within three months. Analysis: The company purchased supplies, which are assets to the business until used. Supplies is increasing, because the company has more supplies than … intern interview feedback formWebSecurity Specialist’s employees earned salaries of $82,350 per month. During 2024, Security Services paid salaries of$980,200 cash for work performed. At the beginning of 2024, there were $2,875 of supplies on hand. Supplies of$65,800 were purchased during the year, and $9,225 of supplies were on hand at the end of the year. intern introduction email sampleWebFeb 3, 2024 · 1. Record supply purchases. You can record how much money the company's employees spend on supplies in your supply account by debiting supplies and crediting … new days have come