1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nadya [2.5K]
2 years ago
15

Below are the transactions for Salukis Car Cleaning for June, the first month of operations.

Business
1 answer:
Kruka [31]2 years ago
3 0

Answer:

Part 1

June 1

Debit : Cash $53,000

Credit : Bank Note $53,000

June 2

Debit : Cash $23,000

Credit : Common Stock $23,000

June 7

Debit : Equipment $58,000

Credit : Cash $58,000

June 10

Debit : Supplies $6,300

Credit : Account Payables $6,300

June 12

Debit : Cash $3,300

Credit : Service Revenue $3,300

June 16

Debit : Salaries $730

Credit : Cash $730

June 19

Debit : Advertising $330

Credit : Cash $330

June 23

Debit : Trade Receivables $4,300

Credit : Service Revenue $4,300

June 29

Debit : Salaries $780

Credit : Cash $780

June 30

Debit : Utility Bill $1,230

Credit : Cash $1,230

June 30

Debit : Dividends $430

Credit : Cash $430

Part 2 & 3

Cash : Debit Side - $53,000 + $23,000 + $3,300, Credit Side - $58,000 + $730 + $330+ $780+ $1,230+$430 = $17,800 (debit)

Bank Note : Debit Side  - Credit Side  - $53,000  = $53,000 (credit)

Common Stock : Debit Side - Credit Side - $23,000 = $23,000 (credit)

Equipment : Debit Side - $58,000 Credit Side - = $58,000 (debit)

Supplies : Debit Side - $6,300 Credit Side - = $6,300 (debit)

Accounts Payable : Debit Side - Credit Side - $6,300 = $6,300 (credit)

Service Revenue ; Debit Side - Credit Side - $3,300 + $4,300 = $7,600(credit)

Salaries : Debit Side - $730 + $780 Credit Side - = $1,510 (debit)

Advertising : Debit Side - $330 Credit Side - = $330 (debit)

Accounts Receivables : Debit Side - $4,300 Credit Side - = $4,300 (debit)

Utility Bill : Debit Side - $1,230 Credit Side - = $1,230 (debit)

Dividends : Debit Side - $430  Credit Side - = $430 (debit)

Part 4

<u>Trial Balance as at 30 June</u>

                                                  Debit                 Credit

Cash                                        $17,800

Bank Note                                                         $53,000

Common Stock                                                 $23,000

Equipment                            $58,000  

Supplies                                  $6,300

Accounts Payable                                              $6,300

Service Revenue                                                $7,600

Salaries                                     $1,510

Advertising                                 $330

Accounts Receivables            $4,300

Utility Bill                                  $1,230

Dividends                                   $430

Totals                                    $89,900            $89,900

Explanation:

The Accounting Process starts with recording transactions in the Journals. The Journals are then posted to the Account Affected and the balances of those Accounts are determined. The trial Balance is then prepared by extracting these balance to find the Debit and Credit Totals to check mathematical accuracy.

You might be interested in
Which of the following distinguishes mediation from negotiation? Group of answer choices vested authority with a third party dec
maxonik [38]

Answer:

The correct answer is the last option: Involving a third party.

Explanation:

To begin with, the major difference between the terms of negotiation and mediation is that in the last one there is a third party involved that seeks for the most quickly and benefitial deal for the both parties that are discussing, while in the negotiation there is not a third party and the two parties existing seeks for their own benefits, even if that means to harm the other person in the process of getting the best for one of them. That is why that the mediation needs to use a third party that has to be impartial to the situation and only wants the best for the parties in the conflict.

7 0
3 years ago
An alternative name for Bad Debt Expense is A. Collection Expense.B. Credit Loss Expense.C. Uncollectible Accounts Expense.D. De
PIT_PIT [208]

Answer:

An alternative is also known as Uncollectible accounts expense

Explanation:

A bad debt expense is recognized when a receivable is no longer collectible because a customer is unable to fulfill their obligation to pay an outstanding debt due to bankruptcy or other financial problems.

Bad debt expenses are generally classified as a sales and general administrative expense and are found on the income statement. Recognizing bad debts leads to an offsetting reduction to accounts receivable on the balance sheet.

<u>Bad debt expense is also known as Uncollectible accounts expense</u>

6 0
3 years ago
What would it mean to you and/or your family to be a part of Career Source Tampa Bay's 2021 Summer Job Connection program? What
ycow [4]

Answer:

It is job connection program organized by Career Source Tampa Bay for the youths of Hillsborough. It provides a platform for the unemployed youths of Hillsborough to connect themselves to the potential employers by learning new skills and experiences.

Explanation:

Career Source Tampa Bay is organizing a summer youth job connection program for the year 2021 for the youths of the Hillsborough County. It is summer job connection program for the youth who are aged between 16 to 24. It is organized by Career Source Tampa Bay.

It provides an opportunity for the youths and prepare them with skills and know how about the targeted jobs. It introduces them to real work filed and exposes them to new ideas and experiences and the potential career paths for the future jobs.

7 0
3 years ago
Use a well labelled graph to explain why the introduction of maximum prices in the petrol industry will not be an ideal decision
-Dominant- [34]

A country's economy will go on a decline if there is a hyperinflation in the petrol prices.

<h3>What is hyperinflation?</h3>

Extreme increase in prices in a very short span of time is regarded as the condition of hyperinflation. If there is hyperinflation in the petrol prices, its demand will be lowered and people will look for substitutes.

Thus, increase or hyperinflation in the petrol prices will lead to declining of a country's economy and will not serve as a wise decision.

Learn more about hyperinflation here:

brainly.com/question/22313119

#SPJ1

5 0
2 years ago
Doug, a new manager, commented to a friend, "I am excited about different aspects of my new job. The company computers have ente
yuradex [85]

Answer:

Doug, the manager, referred to Data Science.

Explanation:

Data Science is a concept: high-end technology to statistics to make the analysis, management and understanding of both structured and unstructured data easier. Data science is applied to many fields, mostly to support the decision making. The person who conducts data science is called data scientist.

6 0
3 years ago
Other questions:
  • A mobile device overheats for seemingly no reason. what is the most likely cause?
    12·1 answer
  • Splish Company provides the following information about its defined benefit pension plan for the year 2017. Service cost $110,00
    13·1 answer
  • The ABC Corporation makes collections on sales according to the following schedule: 25% in month of sale 71% in month following
    5·1 answer
  • Amherst City provides a defined benefit pension plan for employees of the city electric utility, an enterprise fund. Assume that
    8·1 answer
  • The Cockrell Company learned that several other shippers in its hometown had customers located in the same market it serves.
    11·1 answer
  • A company is going to be performing an initial offering. The offering will be limited to one state. The company has no intention
    5·1 answer
  • What refers to marketing via the Internet using company websites, online advertising and promotions, email marketing, online vid
    14·1 answer
  • On January 1, 2010, North Co. sold equipment and accepted in exchange a $600,000 zero-interest-bearing note due on January 1, 20
    6·1 answer
  • Which type of delivery format would be the best choice for the keynote speech that welcomes employees?
    6·1 answer
  • The time required to chance a machine from making one product or service to the next is called:______.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!