25-29, $2,050. 29-Apr Recorded services provided on account for April 25-29 $1,000. 29-Apr John received $4,500 from the company as his salary. 3) Follow the instructions and perform the accounting unctions as follows (using the MS Excel file attached): A. Record the transactions stated above in good general journ form. (The first transaction has been recorded and posted for you). 3. Post the transactions to T-accounts.
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- For the past several years, M. Adam has operated a part-time business from his home. As of April 1, 2020, Adam decided to move to rented quarters and to operate the business, which was to be known as Adam & Family Inc., on a full-time basis. Adam & Family entered into the following transactions during April: April 4. The following assets were received from John Addams: cash, Rs.1, 500,000; accounts receivable, Rs.225,000; supplies, Rs.187,500; and office equipment, Rs.1,125,000. There were no liabilities received. April 4. Paid three months’ rent on a lease rental contract, Rs. 675,000. April 4. Paid the premium on property insurance policy for the year, Rs. 270,000. April 6. Received cash from clients as an advance payment for services to be providers. 450,000. April 7 Purchased additional office furniture on account from Morrilton Company, Rs. 270,000. April 8. Received cash from clients on account, Rs. 120,000. April 11. Paid cash for newspaper advertisement, Rs. 18,000.…For the past several years, M. Adam has operated a part-time business from his home. As of April 1, 2020, Adam decided to move to rented quarters and to operate the business, which was to be known as Adam & Family Inc., on a full-time basis. Adam & Family entered into the following transactions during April: April 4. The following assets were received from John Addams: cash, Rs.1, 500,000; accounts receivable, Rs.225,000; supplies, Rs.187,500; and office equipment, Rs.1,125,000. There were no liabilities received. April 4. Paid three months’ rent on a lease rental contract, Rs. 675,000. April 4. Paid the premium on property insurance policy for the year, Rs. 270,000. April 6. Received cash from clients as an advance payment for services to be providers. 450,000. April 7 Purchased additional office furniture on account from Morrilton Company, Rs. 270,000. April 8. Received cash from clients on account, Rs. 120,000. April 11. Paid cash for newspaper advertisement, Rs. 18,000.…For the past several years, M. Adam has operated a part-time business from his home. As of April 1, 2020, Adam decided to move to rented quarters and to operate the business, which was to be known as Adam & Family Inc., on a full-time basis. Adam & Family entered into the following transactions during April: April 4. The following assets were received from John Addams: cash, Rs.1, 500,000; accounts receivable, Rs.225,000; supplies, Rs.187,500; and office equipment, Rs.1,125,000. There were no liabilities received. April 4. Paid three months’ rent on a lease rental contract, Rs. 675,000. April 4. Paid the premium on property insurance policy for the year, Rs. 270,000. April 6. Received cash from clients as an advance payment for services to be providers. 450,000. April 7 Purchased additional office furniture on account from Morrilton Company, Rs. 270,000. April 8. Received cash from clients on account, Rs. 120,000. April 11. Paid cash for newspaper advertisement, Rs. 18,000.…
- For the past several years, M. Adam has operated a part-time business from his home. As of April 1, 2020, Adam decided to move to rented quarters and to operate the business, which was to be known as Adam & Family Inc., on a full-time basis. Adam & Family entered into the following transactions during April: April 4. The following assets were received from John Addams: cash, Rs.1, 500,000; accounts receivable, Rs. 225,000; supplies, Rs. 187,500; and office equipment, Rs. 1,125,000. There were no liabilities received. April 4. Paid three months’ rent on a lease rental contract, Rs. 675,000. April 4. Paid the premium on property insurance policy for the year, Rs. 270,000. April 6. Received cash from clients as an advance payment for services to be providers. 450,000. April 7 Purchased additional office furniture on account from Morrilton Company, Rs. 270,000. April 8. Received cash from clients on account, Rs. 120,000. April 11. Paid cash for newspaper advertisement, Rs.…For the past several years, M. Adam has operated a part-time business from his home. As of April 1, 2020, Adam decided to move to rented quarters and to operate the business, which was to be known as Adam & Family Inc., on a full-time basis. Adam & Family entered into the following transactions during April: April 4. The following assets were received from John Addams: cash, Rs.1, 500,000; accounts receivable, Rs.225,000; supplies, Rs.187,500; and office equipment, Rs.1,125,000. There were no liabilities received. April 4. Paid three months’ rent on a lease rental contract, Rs. 675,000. April 4. Paid the premium on property insurance policy for the year, Rs. 270,000. April 6. Received cash from clients as an advance payment for services to be providers. 450,000. April 7 Purchased additional office furniture on account from Morrilton Company, Rs. 270,000. April 8. Received cash from clients on account, Rs. 120,000. April 11. Paid cash for newspaper advertisement, Rs. 18,000.…For the past several years, M. Adam has operated a part-time business from his home. As of April 1, 2020, Adam decided to move to rented quarters and to operate the business, which was to be known as Adam & Family Inc., on a full-time basis. Adam & Family entered into the following transactions during April: April 4. The following assets were received from John Addams: cash, Rs.1, 500,000; accounts receivable, Rs.225,000; supplies, Rs.187,500; and office equipment, Rs.1,125,000. There were no liabilities received.April 4. Paid three months’ rent on a lease rental contract, Rs. 675,000.April 4. Paid the premium on property insurance policy for the year, Rs. 270,000.April 6. Received cash from clients as an advance payment for services to be providers. 450,000.April 7 Purchased additional office furniture on account from Morrilton Company, Rs. 270,000.April 8. Received cash from clients on account, Rs. 120,000.April 11. Paid cash for newspaper advertisement, Rs. 18,000.April 12.…
- For the past several years, M. Adam has operated a part-time business from his home. As of April 1, 2020, Adam decided to move to rented quarters and to operate the business, which was to be known as Adam & Family Inc., on a full-time basis. Adam & Family entered into the following transactions during April: April 4. The following assets were received from John Addams: cash, Rs.1, 500,000; accounts receivable, Rs.225,000; supplies, Rs.187,500; and office equipment, Rs.1,125,000. There were no liabilities received. April 4. Paid three months’ rent on a lease rental contract, Rs. 675,000. April 4. Paid the premium on property insurance policy for the year, Rs. 270,000. April 6. Received cash from clients as an advance payment for services to be providers. 450,000. April 7 Purchased additional office furniture on account from Morrilton Company, Rs. 270,000. April 8. Received cash from clients on account, Rs. 120,000. April 11. Paid cash for newspaper advertisement, Rs. 18,000.…For the past several years, John Addams has operated a part-time business from his home. As of April 1, 2002, John decided to move to rented quarters and to operato the business, which was to be known as Addams & Family Inc., on a full-time basis. Addams & Family entered into the following transactions during Aprit: April 4 The following assets were received from John Addams: cash, $10,000; accounts receivable, $1,500; supplies, $1,250; and office equipment, $7,500. There were no liabilities received. April 4 Paid three months' rent on a lease rental contract, $4,500. April 4 Paid the premium on property and casualty insurance policies for the year, $1,800. April 6 Received cash from clients as an advance payment for services to be provided, $3,000. April 7 Purchased additional office furniture on account from Morrilton Company, $1,800. April 8 Received cash from clients on account, $800. April 11 Paid cash for newspaper advertisement, $120. April 12 Paid Morrilton Company $800 for…Amara is a sole proprietor who operates her business using the cash method of accounting and a calendar year. Based on the following list, how much income will be reported on her 2023 Schedule C? $10,000 check received January 4, 2024, for a job completed December 20, 2021. $15,000 check received December 29, 2023, for a job completed December 28, 2022, deposited January 5, 2024. $9,500 balance due for work that Amara performed in June 2023. Amara took her client to small claims court in December 2023, but did not receive any satisfaction. 1) $9.500 2) $15,000 3) $19,500 4) $25,000
- On July 1, 2020, Arabi Sheikh established an interior decorating business. During the month, Arabi Sheikh completed the following transactions related to the business: July 1: Arabi transferred cash from his personal account and invested it for business use, $23500. July 10: Purchased a truck for $14900, paying $7200 cash and the remainder will be paid in the future. July 12: Paid annual premiums on property and casualty insurance (advance), $2570. July 17: Paid creditor a portion of the amount owed for truck purchased on July 10, $4220. July 20: Completed services on account and billed the customer, $7310 July 25: Received cash from customers on account, $3520. July 31: Paid salaries expense of $460 and utilities expense of $300. (a) Journalize the above transactions for the month of July (b) Prepare ledger accounts in running balance format (c) Prepare trial balance at 31 July 2020Roger Jones is a doctor who operates a medical practice. Roger employs two employees (a nurse and a receptionist). Another doctor works at the practice as employee on a part-time basis. The business is operated from rented premises. Roger also owns several residential properties which he rents out to tenants. Assume Roger is registered for GST in respect of the above and accounts for GST on an accruals basis. For the quarter ended 30 June 2021, the following transactions were reported in the accounting records maintained by Roger: Receipts (inclusive of GST where appropriate) Fees from patients 220000 $ Rent from tenants 55000 $ Expenses (inclusive of GST where appropriate) Rent for premises used for medical practice 11000 $ Wages for nurse and receptionist 22000 $ Remuneration paid to the part-time doctor 55000 $ Fresh flowers for Roger’s home 660 $ Plumbing repairs to residential premises 1100 $ New light fittings for residential premises (tax invoice not received) 3300 $…For the past several years, M. Adam has operated a part-time business from his home. As of April 1, 2020, Adam decided to move to rented quarters and to operate the business, which was to be known as Adam & Family Inc., on a full-time basis. Adam & Family entered into the following transactions during April April 4. The following assets were received from John Addams: cash, Rs.1, 500,000; accounts receivable, Rs.225,000; supplies, Rs.187,500; and office equipment, Rs.1,125,000. There were no liabilities received. April 4. Paid three months’ rent on a lease rental contract, Rs. 675,000. April 4. Paid the premium on property insurance policy for the year, Rs. 270,000. April 6. Received cash from clients as an advance payment for services to be providers. 450,000. April 7 Purchased additional office furniture on account from Morrilton Company, Rs. 270,000. April 8. Received cash from clients on account, Rs. 120,000. April 11. Paid cash for newspaper advertisement, Rs. 18,000.…