Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 7 transactions for pearl co, for the mont

QUESTION 7 Transactions for Pearl Co, for the month of December are presented...

80.2K

Verified Solution

Question

Accounting

image

QUESTION 7 Transactions for Pearl Co, for the month of December are presented below. 1. Pearl, the owner, Invested BHD40,000 cash to establish Pearl Co. 2. Purchased land costing BHD28,000 by signing a note. 3. Purchased supplies for BHD800 cash. 4. Paid BHD1,000 for a one-year rent in advance. 5. Received BHD3,000 cash in advance for service to be performed next montn. Requirements: (A) Journalize each transaction and identify each transaction by number. You may omit journal explanations. Example: 1. Paid BD 500 for office maintenance. Answer: 1. Dr. Office Maintenance expense BD 500 Cr. Cash BD 500 (B) After recording all the transactions in PART A, what is the cash balance? [you MUST show your calculation] For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

(a) Suppose that f is a polynomial of degree 3 or more. Explain, in your own...

Basic Math
Q

WRITE COMPLETE SOLUTION 9. Suppose Paramecium caudatum cultured in a batch reactor obeys the logistic function X(t) =20,000/3.0...

Civil Engineering
Q

A dipole is released from rest a distance of 4m from a very long wire with...

Physics
Q

Describe the functions of each of the following parts of thenephron and associated structures in...

Biology
Q

X d Decide whether to reject or fail to reje

Statistics
Q

29 40 Determine the infinite limit 29 lim I 31 lim x 33 lim In...

Calculus
Q

Cullumber Hardware reported cost of goods sold as follows. Cullumber made...

Accounting
Q

How will take two acquisation of zygna impact the investor's annual financial statements? in the...

Accounting
Q

Exercise 3-18 (Static) Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker...

Accounting
Q

Management is responsible for promoting a culture of honesty and ethics. Describe why this is...

Accounting
Q

Question 5 A company expects their revenues to decrease by $11,833 over the next 14...

Finance
Q

Homework: Chapter 16 Homework Score: 0 of 1 pt E16-20 (similar to) Save 1 of...

Accounting