4 received cash on account from romi architect pa

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4Received cash on account from Romi Architect, P.A. from May sale. The customer paidwithin the discount period.6Issued Check No. 143 for $3,000 for June office rent.7Issued Check No. 144 for $18,000 to pay Golden Antiques on account.7Received $25,000 from Supreme Hotel for decorating services.7Issued Check No. 145 for $3,200 to pay A & D Inc. on account.10Purchased merchandise on account from Golden Antiques for $45,000 (net 60).10Performed services on account for Fiona’s Fashion Co. for $21,700 (net 30).14Received $26,500 cash from the sale of an antique chest. The cost of the merchandise was$16,560.18Received $19,000 cash on account from Athena&Co.forservicesperformedonApril 19.19Received $18,000 cash on account from La Epoca Beauty Boutiqueforservicesperformed on March 20.19Received $35,000 from Innovational Ways, Inc. for decorating its entire office building.19Sold an antique mirror and lamp on account to Dino’s Special Moments for $26,000 (net30). The cost of the merchandise was $16,250.21Performed decorating services on account for Rodriguez & Associates for $17,000 (net 60).21Received back $8,000 worth of the merchandise that was purchased by Dino’s SpecialMoments on June 19. The cost of the merchandise was $5,000.25Received$32,000cashonaccountfrom BlueOceanResortforservices performed onApril 26.27Issued Check No. 146 as a 30% down payment on land with a purchase price of $31,000.Financed the remaining balance with a 12% long-term loan.29Issued Check No. 147 for $325 to pay the utilities bill for the month.29Issued Check No. 148 for $350 in payment of the telephone bill for the month.29Issued Check No. 149 for $450 for postage.29Issued Check No. 150 for $775 for business automobile expenses.29Issued Check No.151toSophia LeBron for salary: gross amount$7,500, withholdingincome tax of $1,500, and FICA (Medicare and Social Security) at 7.5%.29Recordedthe payrolltax expenses,FICA at 7.5% (employer), SUTA at 3%, andFUTA at0.8%.(Ignore the salary limit amount for SUTA and FUTA.)
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Chapter 10 / Exercise E 10-6A
College Accounting, Chapters 1-27
Heintz/Parry
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Jun. 29IssuedCheckNo.152toreplenishpetty cash. The expenditures were for supplies, $115,and postage expense, $70.29Issued Check No. 153 for $3,500 to Sophia LeBron as dividends.(Ignore the declarationand record dates.)Adjusting Entriesa)Expired insurance for the period, $500.b)Supplies on hand at the end of the month, $2,850.c)Provision for uncollectible accounts estimated at 3.0% of June credit sales, $1,161.(Note: This estimate applies only to the service part of the business.)d)Monthly depreciation on plant (fixed) assets is based on an 8-year life, no salvage value,and the straight-line method of depreciation.Closing Entries (Optional)a)Close the revenue accounts.b)Close the expense accounts.c)Close the income summary account.d)Close the dividends account.
My Place, House of DécorJUNEANALYSISNameDateGradeA.From the statements you prepared for June, provide the following amounts:Adjusted TrialBalance1)Trial balance totals.....................................................................................642408Schedules of Accounts Receivable and Payable2)Schedule of accounts receivable total........................................................997003)Schedule of accounts payable total............................................................98000IncomeStatement4)Net revenues for the six months ended June 30.........................................3697455)Gross profit for the six months ended June 30..........................................351456)

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Term
Fall
Professor
Marklevitz
Tags
English, Balance Sheet, Generally Accepted Accounting Principles
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
College Accounting, Chapters 1-27
The document you are viewing contains questions related to this textbook.
Chapter 10 / Exercise E 10-6A
College Accounting, Chapters 1-27
Heintz/Parry
Expert Verified

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