Following are transactions for Valdez Services, a company owned by B. Valdez. a. B. Valdez invested $24,100 cash in the

[answerhappygod]

Following Are Transactions For Valdez Services A Company Owned By B Valdez A B Valdez Invested 24 100 Cash In The 1 (376.74 KiB) Viewed 20 times

Following are transactions for Valdez Services, a company owned by B. Valdez. a. B. Valdez invested $24,100 cash in the company in exchange for common stock. b. The company provided services to a client and immediately received $890 cash. c. The company received $18,700 cash from a client in advance for services to be provided next year. d. The company received $2,200 cash from a client in partial payment of accounts receivable. 1. Prepare general journal entries for the above transactions of Valdez Services. 2. Listed below are three reasons why a transaction would not yield a revenue. Match each of the reasons to the transaction it properly describes. Complete this que tion by entering your answers in the tabs below. Required 1 Required 2 Prepare general journal entries for the above transactions of Valdez Services. View transaction list
Required 1 Required 2 Prepare general journal entries for the above transactions of Valdez Services. View transaction list Journal entry worksheet < 1 2 3 4 B. Valdez invested $24,100 cash in the company in exchange for common stock. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal >
Required 1 Required 2 Prepare general journal entries for the above transactions of Valdez Services. View transaction list Journal entry worksheet < 1 2 3 4 The company provided services to a client and immediately received $890 cash. Note: Enter debits before credits. General Journal Debit Credit Transaction b. Clear entry View general journal Record entry
Required 1 Required 2 Prepare general journal entries for the above transactions of Valdez Services. View transaction list Journal entry worksheet < 1 2 3 4 The company received $18,700 cash from a client in advance for services to be provided next year. Note: Enter debits before credits. General Journal Debit Credit Transaction C. Clear entry View general journal Record entry >
Required 1 Required 2 Prepare general journal entries for the above transactions of Valdez Services. View transaction list Journal entry worksheet < 1 2 3 4 The company received $2,200 cash from a client in partial payment of accounts receivable. Note: Enter debits before credits. General Journal Debit Transaction d. Clear entry Record entry Credit View general journal >
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Listed below are three reasons why a transaction would not yield a revenue. Match each of the reasons to the transaction it properly describes. Reason Transaction This transaction changed the form of an asset from a receivable to cash. Total assets were not increased (revenue was recognized when the services were originally provided). This transaction brought in cash, but this is an owner investment. This transaction brought in cash, but it created a liability to provide services to the client in the next year. < Required 1 Required 2