Recording Transactions

Welcome to the "Recording Transactions" category on Questions LLC! Here, you will find a wide range of questions and answers related to the important task of recording transactions. Whether you're a small business owner, an accountant, or simply curious about the basics of bookkeeping, this category is the perfect place to explore and expand your knowledge. From understanding the fundamental concepts of double-entry bookkeeping to diving into more complex topics such as ledger entries, journalizing transactions, and preparing financial statements, our community of experts is here to provide insightful answers and guidance. So, take a deep dive into the world of recording transactions and unlock the key to maintaining accurate and organized financial records.

Questions (26)

The following events apply to Montgomery Company for Year 1, its first year of operation: 1. Received cash of $42,000 from the
1. 2 answers
2. asked anonymously
3. 195 views
Adam has created a register for the bank account he opened on April 16th. Unfortunately, Adam has made a mistake and cannot
1. 4 answers
2. asked by Anonymous
3. 2,072 views
problem: the transactions for the month of june. use markup on sales of 20% for profit. june 1 purchased merchandise from ariva
1. 4 answers
2. asked by Oyew
3. 396 views
Hankco accepts all major bank credit cards, including Omni Bank's, which assesses a 3% charge on sales for using its card. On
1. 2 answers
2. asked by Please Help!!
3. 687 views
Mr. Right and Mr. Wrong own an antique store in a partnership. They share profits and losses equally and receive an annual
1. 3 answers
2. asked by Angie
3. 1,165 views
Hello,I really don't know where to begin Travis Fortney, an architect, opened an office on April 1, 2010. During the month, he
1. 3 answers
2. asked by Ann Marie Moiten
3. 647 views
Record the following transactions as general journal entries. Use the gross-price method.Aug. 6 Purchased $830 of merchandise on
1. 1 answer
2. asked by malcolm
3. 1,177 views
The business was started on April 1st.I have the following events that happened: what accounts should I debit and credit? 1.
1. 1 answer
2. asked by Jacob
3. 390 views
How do I record this transaction? Sold inventory on account for $500, cost of merchandise sold was $300. (Record the sale first
1. 2 answers
2. asked by Emily
3. 553 views
Analyze and record, in the form of T Accounts, Mr. James' transactions:Jan 1: Amount invested in the business $10,000 Jan 7:
1. 2 answers
2. asked by Melissa
3. 530 views
Jane Doe of Creative Marketing was recording transactions into the accounting records to prepare financial statements for the
1. 1 answer
2. asked by Hudson
3. 447 views
r Consulting began operations and completed the following transactions during the first half of December:Dec 2 Received $18,000
1. 1 answer
2. asked by carol
3. 677 views
suppose your business caters a party august 23.according to the contract ,your client will pay the 2500 bill on september
1. 2 answers
2. asked by susue
3. 545 views
Prepare the entry to record the accrued interest and the amortization of premium on December 31, 2010 using the straight-line
1. 2 answers
2. asked by Ashley
3. 547 views
Enter transactions:1. owner contributes $6,00 cash 2. $2,000 in revenue on account 3. $1,500 cash from debtors 4. Rent expense
1. 1 answer
2. asked by kay
3. 494 views
how do i record a refund on a accounting equation?
1. 1 answer
2. asked by Molebogeng
3. 340 views
what does customer pays $150.00 toward account at store. What does that look like using specialized journals, general ledger and
1. 1 answer
2. asked by Barb
3. 886 views
can someone correct these for me thanks. for the accounting cycle.i have to place these in order. a) Posting the journal entries
1. 2 answers
2. asked by student acc
3. 554 views
When posting a journal entry how would I post the following.March 9 Completed a 7,500 project for a client who must pay within
1. 1 answer
2. asked by Dan
3. 763 views
At the beginning of 2012, the Jeater Company had the following balances in its accounts:Cash $4,300 Inventory 9,000 Common Stock
1. 2 answers
2. asked by tammy
3. 555 views
Which step is third of six?a. Record the amount of the debit. b. Record the amount of the credit. c. Record the name of the
1. 1 answer
2. asked anonymously
3. 21 views
Which step is fourth of six?a. Record the amount of the debit. b. Record the amount of the credit. c. Record the name of the
1. 1 answer
2. asked anonymously
3. 25 views
Which step is second of six?a. Record the amount of the debit. b. Record the amount of the credit. c. Record the name of the
1. 1 answer
2. asked anonymously
3. 27 views
Which step is fifth of six?a. Record the amount of the debit. b. Record the amount of the credit. c. Record the name of the
1. 1 answer
2. asked anonymously
3. 33 views
Which step is sixth of six?a. Record the amount of the debit. b. Record the amount of the credit. c. Record the name of the
1. 1 answer
2. asked anonymously
3. 35 views
Mr Molefe is the owner of the sole trader “Cool-a-Creamy Traders”. Cool-a-Creamy Traders is an ice-cream dealer who started
1. 1 answer
2. asked anonymously
3. 5 views