Flora accounting services completed these transactions

Reference no: EM131011388

Flora Accounting Services completed these transactions in February:

a. Purchased office supplies on account, $300
b. Completed work for a client on credit, $500
c. Paid cash for the office supplies purchased in (a)
d. Completed work for a client and received $800 cash
e. Received $500 cash for the work described in (b).

Prepare General journal (using a talbe with professional terms for debit/credit entries such as Cash, Account Receivable or Payable) to record the above transactions.

Reference no: EM131011388

Questions Cloud

Building is expected to generate no cash flows : A building is expected to generate no cash flows for several years and then generate annual cash flows forever. What is the value of the building if the first annual cash flow is expected in 6 years from today, the first annual cash flow is expected ..

Wealthy professor would like to live in golfing community : Your wealthy professor would like to live in a golfing community. A house is for sale in Greenbryer. The purchase price is $899,900. Assume that your professor is willing to pay the full asking price. The bank loves to make loans to professors and ha..

Calculate the variance of portfolio returns : Hyacinth Macaw invests 62% of her funds in stock I and the balance in stock J. The standard deviation of returns on I is 14%, and on J it is 26%. a. Calculate the variance of portfolio returns, assuming the correlation between the returns is 1.0. (Do..

Flora accounting services completed these transactions : Prepare General journal (using a talbe with professional terms for debit/credit entries such as Cash, Account Receivable or Payable) to record the above transactions.

What is the quarterly interest rate on the loan : Celeste just borrowed 44,400 dollars. She plans to repay this loan by making equal quarterly payments of 2,730.19 dollars for 25 quarters. If she makes her first quarterly payment later today, then what is the quarterly interest rate on the loan? Ans..

What is the value of an investment that will pay investors : What is the value of an investment that will pay investors 2,980 dollars per year for 7 years and will also pay investors an additional 4,970 dollars in 1 year(s) from today if the expected return for the investment is 7.45 percent per year and the f..

About investors expectations of future interest rates : If the risk free yield curve is inverted (long term risk free interest rates are lower than short term risk free interest rates), what is this likely to imply about investor’s expectations of future interest rates?

Accounts payable increase spontaneously with sales : Calculating EFN The most recent financial statements for Moose Tours, Inc., appear below. Sales for 2012 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. ..

User Account

All Pages