A company completed the following transactions during the month of October:
I. Purchased office supplies on account, $ 5600.
II. Provided services for cash, $ 20000.
III. Provided services on account, $ 3500
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A company completed the following transactions during the month of October:
I. Purchased office supplies on account, $ 5600.
II. Provided services for cash, $ 20000.
III. Provided services on account, $ 35000.
IV. Collected cash from a customer on account, $ 27 comma 000.
V. Paid the monthly rent of $ 4000.
What was the company's total revenue for the month?
A company completed the following transactions during the month of October:
I. Purchased office supplies on account, $ 5000.
II. Provided services for cash, $ 20000.
III. Provided services on account, $ 17000.
IV. Collected cash from a customer on account, $ 7000.
V. Paid the monthly rent of $ 13000.
What was the company's net income for the month?
A company had credit sales of $ 30,000 and cash sales of $ 23,000 during the month of May. Also during May, the company paid wages of $ 22,000 and utilities of $ 10,000. It also received payments from customers on account totaling $5,000. What was the company's net income for the month?
A company received $ 34000 cash and issued common stock in exchange. How does this transaction affect the accounting equation?
A. Add $ 34000 to Cash and add $ 34000 to Common Stock.
B.Add $ 34000 to Cash and add $ 34000 to Retained Earnings.
C.Add $ 34000 to Dividends and subtract $ 34000 from Retained Earnings.
D.Add $ 34000 to Cash and add $ 34000 to Revenue.
A business paid $ 3400 on account. The journal entry would:
A. debit Accounts Receivable for $ 3400 and credit Revenue for $ 3400.
B. debit Accounts Payable for $ 3400 and credit Cash for $ 3400.
C. debit Cash for $ 3400 and credit Accounts Payable for $ 3400.
D. debit Cash for $ 3400 and credit Retained Earnings for $ 3400.
On May 1, a business provided legal services to a client and billed the client $ 3 comma 600. The client promised to pay the business in one month. Which journal entry should the business record on May 1?
A. Debit Cash for $ 3600 and credit Retained Earnings for $ 3600.
B. Debit Accounts Receivable for $ 3600 and credit Service Revenue for $ 3600.
C. Debit Cash for $ 3600 and credit Service Revenue for $ 3600.
D. Debit Accounts Payable for $ 3600 and credit Service Revenue for $ 3600.
The Accounts Receivable account for Johnny's Mechanic Shop had a beginning balance of $ 36000. During the month, Johnny made sales on account of $ 46000. The ending balance in the Accounts Receivable account is $ 31000. What are cash collections for the month?
A. $ 82000
B. $ 51000
C. $ 36000
D.$ 46000
The accounts of Yardy Company are as follows on November 30, 2019:
Accounts Payable.............................$26,500
Accounts Receivable........................$16,600
Cash..................................................$73,000
Common Stock..................................$37,000
Dividends ..............................................$8,000
Insurance Expense................................$4,100
Retained Earnings ................................$28,800
Salary Expense.......................................$14,000
Sales Revenue........................................$11,000
Supplies ..................................................$1,500
What is the total of the debit column in the trial balance at November 30, 2019?
A. $117,200
B. $109,200
C.$100,300
D. $220,500
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