Selected transactions for the Joel Berges Company are presented in journal form below.Date Account Titles and Explanation Ref. Debit Credit5-May Accounts Receivable 4,100 Service Revenue 4,100 (Billed for services performed) 12 Cash 2,400 Accounts Receivable 2,400 (Received cash in payment of account) 15 Cash 3,000 Service Revenue 3,000 (Received cash for services performed) Required:Post the transactions to T-accounts and determine each account's ending balance.

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Selected transactions for the Joel Berges Company are presented in journal form below.

Date Account Titles and Explanation Ref. Debit Credit
5-May Accounts Receivable 4,100
Â Â Â Â Â Service Revenue 4,100
Â Â Â Â Â Â Â (Billed for services performed)
12 Cash 2,400
Â Â Â Â Accounts Receivable 2,400
Â Â Â Â Â Â (Received cash in payment of account)
15 Cash 3,000
Â Â Â Â Service Revenue 3,000
Â Â Â Â Â Â Â (Received cash for services performed)

Required:
Post the transactions to T-accounts and determine each account's ending balance.

Answers

Answer 1

Answer:

1. Cash

Date Amount Date Amount

12 May $2,400

15 May $3,000

Ending Bal. $5,400

2. Account Receivables

Date Amount Date Amount

5 May $4,100 12 May $2,400

Bal C/D $1,700

$4,100 $4,100

Ending Bal. $1,700

3. Service Revenue

Date Amount Date Amount

5 May $4,100

15 May $3,000

End Bal. $7,100

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Education a person needs to get this type of job
Skills a person needs to get this type of job
How people in this job use technology
The URL (web address) of the US Bureau of Labor Statistics website where readers can find more information

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The name of the career - Computer engineering

The information I have learned on Computer engineering is that it is all about research, as well as design, making, and testing ofcomputer systems as well as its components.

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The people in this job use a lot of technology as they are actively involve in its production.

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which of these industries is among the fastest growing today?

Answers

Today, the health care industry is among the fastest growing today. The Option B is correct.

Why is health care industry fast growing?

Medical advances and advancements in medicine and technology have a significant impact on the growth of the healthcare industry, affecting demand for healthcare services.

All these creates more opportunities for workers who are required to provide these services. Those with a master's degree in healthcare management will have many opportunities to fill these positions.

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Answers

Answer:

take inventory on how much product he has and how much he needs

Explanation:

Answer:

Honestly not sure but I personally put "C. plan appropriate order cycles for the inventory"

Explanation:

Plato

Which are examples of job interview do's? Choose 4 answers.

Question 1 options:

Send the interviewer a thank you letter 2-3 days after the interview.

Brag about yourself.

Always ask questions.

Practice answering interview questions before the interview.

The first and last words should be those of gratitude.

Answers

Answer:

Send the interviewer a thank you letter 2-3 days after the interview.

Always ask questions.

Practice answering interview questions before the interview.

The first and last words should be those of gratitude.

Answer:

Send the interviewer a thank you letter 2-3 days after the interview.

Always ask questions.

Practice answering interview questions before the interview.

The first and last words should be those of gratitude.

Explanation:

Ragland Corp. purchases supplies on account for $1,000 and appropriately records the transaction in an asset account. A count of inventory at year-end indicates that $300 of supplies are remaining. The adjusting journal entry required at year-end includes:_____.

Answers

Answer and Explanation:

The adjusting entry is shown below:

Supplies Expense A/c $700

To Supplies A/c $700

(Being the supplies expense is recorded)

The supplies expense is computed below

= Supplies purchased made - supplies on hand

= $1,000 - $300

= $700

For recording this we debited the supplies expense as it increased the expenses and credited the supplies as it decreased the assets

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The senior history teacher is very aware of China's history and culture, steeped in suppression and oppression, at least for Westerners, rather than the famous Chinese culture of harmony, righteousness, honesty, and filial piety.

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Chinese professed culture celebrates the Chinese contributions to the world in the areas of ceramics, architecture, music, literature, martial arts, cuisine, visual arts, philosophy, and religion.

Philosophically, the Chinese speak of harmony, benevolence, righteousness, courtesy, wisdom, honesty, loyalty, and filial piety.

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Answers

Lower potential gains is not a benefit of investing in a mutual fund

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Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $10. At the start of January 2015, VGC’s income statement accounts had zero balances and its balance sheet account balances were as follows:

Cash $2,360,000
Accounts Receivable 152,000
Supplies 19,100
Equipment 948,000
Land 1,920,000
Building 506,000
Accounts Payable 109,000
Unearned Revenue 152,000
Notes Payable (due 2018) 80,000
Common Stock 2,200,000
Retained Earnings 3,364,100

In addition to the above accounts, VGC’s chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense.

Required:
1. Analyze the effect of the January transactions (shown below) on the accounting equation, and indicate the account, amount, and direction of the effect (+ for increase and − for decrease) of each transaction. (Enter any decreases to account balances with a minus sign.)

a. Received $52,250 cash from customers for subscriptions that had already been earned in 2014.
b. Received $235,000 cash from Electronic Arts, Inc. for service revenue earned in January.
c. Purchased 10 new computer servers for $41,900; paid $12,000 cash and signed a three-year note for the remainder owed.
d. Paid $15,600 for an Internet advertisement run on Yahoo! in January.
e. Sold 10,100 monthly subscriptions at $10 each for services provided during January. Half was collected in cash and half was sold on account.
f. Received an electric and gas utility bill for $5,900 for January utility services. The bill will be paid in February.
g. Paid $310,000 in wages to employees for work done in January.
h. Purchased $5,100 of supplies on account.
i. Paid $5,100 cash to the supplier in (h).

2. Prepare journal entries for the January transactions listed in part 1, using the letter of each transaction as a reference.
3. Create T-accounts, enter the beginning balances shown above, post the journal entries to the T-accounts, and show the unadjusted ending balances in the T-accounts.
4. Prepare an unadjusted trial balance as of January 31, 2015.

Answers

Answer:

Vanishing Games Corporation (VGC)

1. Analysis of the effect of transactions on the accounting equation:

Assets = Liabilities + Equity

Assets (Cash) increases +$52,500 and Assets (Accounts Receivable) decreases -$52,500 = Liabilities + Equity.

b. Assets (Cash) increases +$235,000 = Liabilities + Equity (Retained Earnings) increase + $235,000.

c. Assets (Equipment) increases +41,900; Cash decreases -$12,000 = Liabilities (Notes Payable) increase +$29,900 + Equity.

d. Assets (Cash) decreases -$15,600 = Liabilities + Equity (Retained Earnings) decrease - $15,600.

e. Assets (Cash) increases + $50,500 and (Accounts Receivable) increases + $50,500 = Liabilities + Equity (Retained Earnings) increase + $101,000.

f. Assets = Liabilities (Accounts Payable) increase +$5,900 + Equity (Retained Earnings) decrease -$5,900.

g. Assets (Cash) decreases - $310,000 = Liabilities + Equity (Retained Earnings) decreases - $310,000.

h. Assets (Supplies) increase + $5,100 = Liabilities (Accounts Payable) increase +$5,100 + Equity.

i. Assets (Cash) decreases - $5,100 = Liabilities (Accounts Payable) decrease - $5,100 + Equity.

2. Journal Entries:

a. Debit Cash Account $52,500

Credit Accounts Receivable $52,500

To record cash from customers.

b. Debit Cash Account $235,000

Credit Service Revenue $235,000

To record cash for service revenue.

c. Debit Equipment $41,900

Credit Cash Account $12,000

Credit Notes Payable $29,900

To record purchase of 10 new computer services

d. Debit Advertising Expense $15,600

Credit Cash Account $15,600

To record payment for advertising.

e. Debit Cash Account $50,500

Debit Accounts Receivable $50,500

Credit Service Revenue $101,000

To record subscriptions for services sold.

f. Debit Utilities Expense $5,900

Credit Utilities Payable $5,900

To record utilities expense.

g. Debit Wages & Salaries Expense $310,000

Credit Cash Account $310,000

To record wages paid.

h. Debit Supplies Account $5,100

Credit Accounts Payable $5,100

To record purchase of supplies on account.

i. Debit Accounts Payable $5,100

Credit Cash Account $5,100

To record payment on account.

3. T-Accounts:

Cash Account

Beginning Balance $2,360,000 c. Equipment 12,000

a. Accounts Receivable 52,250 d. Advertising Expense 15,600

b. Electronic Arts, Inc. 235,000 g. Wages & Salaries 310,000

e. Service Revenue 50,500 i. Accounts Payable 5,100

Balance c/d 2,355,050

2,697,750 2,697,750

Balance b/d 2,355,050

Accounts Receivable

Beginning Balance 152,000 a. Cash 52,250

e. Service Revenue 50,500 Balance c/d 150,250

202,500 202,500

Balance b/d 150,250

Supplies

Beginning Balance 19,100 Balance c/d 24,200

Accounts Payable 5,100

24,200 24,200

Balance b/d 24,200

Equipment

Beginning Balance 948,000 Balance c/d 989,900

c. Cash 12,000

c. Notes Payable 29,900

989,900 989,900

Balance b/d 989,900

Land

Beginning Balance 1,920,000

Building

Beginning Balance 506,000

Accounts Payable

i. Cash 5,100 Beginning Balance 109,000

Balance c/d 109,000 h. Supplies 5,100

114,100 114,100

Balance b/d 109,000

Unearned Revenue

Beginning Balance 152,000

Advertising Expense

d. Cash 15,600

Utilities Expense

f. Utilities Payable 5,900

Utilities Payable

f. Utilities Expense 5,900

Wages & Salaries Expense

g. Cash 310,000

Service Revenue

b. Cash 235,000

Balance c/d 336,000 e. Cash 50,500

e. Accounts Receivable 50,500

336,000 336,000

Balance b/d 336,000

Notes Payable (due 2018)

Balance c/d 109,900 Beginning Balance 80,000

c. Equipment 29,900

109,900 109,900

Balance b/d 101,000

Common Stock

Beginning Balance 2,200,000

Retained Earnings

Beginning Balance 3,364,100

4. Trial Balance as at January 31:

Debit Credit

Cash $2,355,050

Accounts Receivable 150,250

Supplies 24,200

Equipment 989,900

Land 1,920,000

Building 506,000

Advertising expense 15,600

Utilities Expense 5,900

Utilities Payable $5,900

Wages & Salaries 310,000

Service Revenue 336,000

Notes Payable 109,900

Accounts Payable 109,000

Unearned Revenue 152,000

Common Stock 2,200,000

Retained Earnings 3,364,100

Total $6,276,900 $6,276,900

Explanation:

a) Note: the adjustment of the Utilities could have been eliminated to produce the same result, with totals reduced by $5,900.

Vanishing Games Corporation (VGC)

Answer 1:

Analysis of the effect of transactions on the accounting equation:

Assets = Liabilities + Equity

a. Assets (Cash) increases +$52,500 and Assets (Accounts Receivable) decreases -$52,500 = Liabilities + Equity.