1,700.00 On November 12th NetSolutions provides $1,900.00 in services to clients. At the time of service, the clients paid $500.00 in cash and put the balance on account. (a) Journalize this event. (b) On November 29th NetSolutions clients paid an additional $800.00 on their accounts due. Journalize this event. (c) Calculate the amount on accounts receivable on November 30th. (a) Nov 12 Cash 500.00 Accounts 1,400.00 Receivable Fees 1,900.00 Earned (b) Nov 29 Cash 800.00 Accounts 800.00 Receivable (c) Original invoice $1,900 Less cash paid upon completion 500 Original amount on accounts receivable 1,400 Less Nov 29th payment 800 Accounts Receivable balance $ 600 Journalize the following selected transactions for August 2008 in a two-column journal. Journal entry explanations may be omitted. Aug 1 Received cash from the investment in exchange for capital stock, $15,000. 2 Received cash for providing accounting services, $8,000. 3 Billed customers on account for providing services, $4,000. 4 Paid advertising expense, $400. 5 Received cash from customers on account, $3,500. 6 Dividends paid, $1,000 7 Received telephone bill, $100 8 Paid telephone bill, $100. Date Description Post Ref Debit Credit
1,700.00 On November 12th NetSolutions provides $1,900.00 in services to clients. At the time of service, the clients paid $500.00 in cash and put the balance on account. (a) Journalize this event. (b) On November 29th NetSolutions clients paid an additional $800.00 on their accounts due. Journalize this event. (c) Calculate the amount on accounts receivable on November 30th. (a) Nov 12 Cash 500.00 Accounts Receivable 1,400.00 Fees Earned 1,900.00 (b) Nov 29 Cash 800.00 Accounts Receivable 800.00 (c) Original invoice $1,900 Less cash paid upon completion 500 Original amount on accounts receivable 1,400 Less Nov 29th payment 800 Accounts Receivable balance $ 600 Journalize the following selected transactions for August 2008 in a two-column journal. Journal entry explanations may be omitted. Aug 1 Received cash from the investment in exchange for capital stock, $15,000. 2 Received cash for providing accounting services, $8,000. 3 Billed customers on account for providing services, $4,000. 4 Paid advertising expense, $400. 5 Received cash from customers on account, $3,500. 6 Dividends paid, $1,000 7 Received telephone bill, $100 8 Paid telephone bill, $100. Date Description Post Ref Debit Credit
Test-Bank-Corporate-Financial-Accounting-10th-Edition-Warren.docx