Post the july transactions

Assignment Help Financial Accounting
Reference no: EM132857797

Question - Pharoah Clark opened Pharoah's Cleaning Service on July 1, 2020. During July, the following transactions were completed.

July 1 Pharoah invested $20,000 cash in the business.

July 1 Purchased used truck for $9,000, paying $4,100 cash and the balance on account.

July 3 Purchased cleaning supplies for $2,000 on account.

July 5 Paid $1,680 cash on 1-year insurance policy effective July 1.12Billed customers $4,400 for cleaning services.

July 18 Paid $1,400 cash on amount owed on truck and $1,300 on amount owed on cleaning supplies.

July 20 Paid $2,600 cash for employee salaries.

July 21 Collected $3,400 cash from customers billed on July 12.

July 25 Billed customers $6,000 for cleaning services.

July 31 Paid $340 for the monthly gasoline bill for the truck.

July 31 Withdraw $5,700 cash for personal use.

Required - Post the July transactions?

Reference no: EM132857797

Questions Cloud

How much is net realizable value of the accounts receivable : During 2020, sales amounted P460,700 out of which P3,700 were returned by the customers. How much is net realizable value of the accounts receivable
Discuss how can each be used in business applications : Discuss how can each be used in business applications, and provide simple examples.
Give a definition of the term pharmacodynamics : Which dosage forms are most appropriate for administering drugs to pediatric patients? Adults? What are the processes involved in disintegration and dissolution
What is the probability that the system lasts : What is the probability that the system lasts at least 90 hours?
Post the july transactions : July 1 Purchased used truck for $9,000, paying $4,100 cash and the balance on account. Post the July transactions
What is the test statistic z : An airline company is interested in improving customer satisfaction rate from the 55% currently claimed. The company sponsored a survey of 190 customers and fou
Describe the physiology of blood pressure control : Describe the physiology of blood pressure control. Causes of Primary Hypertension may include overactivity of the SNS; overactivity of the RAAS
Prepare to engage opportunities and avoid threats : Based on your scenario, how can companies in Saudi Arabia prepare to engage opportunities and avoid threats?
How often check in with others regarding moral distress : How often should you check in with others regarding moral distress in your work environment? Consider peer responses. Are they similar or different than yours?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd