Homework Answers
| Cash | Share Capital | Land | Equipment | Interest Expense | |||||||||||||||||||
| 1-Oct | $ 50,000.00 | 1-Nov | $ 20,000.00 | 1-Oct | $ 50,000.00 | 1-Nov | $ 20,000.00 | 10-Nov | $ 12,000.00 | h) | $ 75.00 | ||||||||||||
| 4-Dec | $ 30,000.00 | 10-Nov | $ 12,000.00 | ||||||||||||||||||||
| 30-Dec | $ 20,500.00 | 1-Dec | $ 4,500.00 | ||||||||||||||||||||
| c) | $ 2,440.00 | b) | $ 5,600.00 | ||||||||||||||||||||
| d) | $ 4,000.00 | ||||||||||||||||||||||
| End. Bal. | $ 56,840.00 | ||||||||||||||||||||||
| Prepaid Insurance | Note Payable | Office Supplies | Accounts Payable | Interest Payable | |||||||||||||||||||
| 1-Dec | $ 4,500.00 | g) | $ 500.00 | 4-Dec | $ 30,000.00 | 8-Dec | $ 3,000.00 | e) | $ 600.00 | 8-Dec | $ 3,000.00 | h) | $ 75.00 | ||||||||||
| End. Bal. | $ 4,000.00 | End. Bal. | $ 2,400.00 | ||||||||||||||||||||
| Accounts Receivable | Revenues | Utilities Expense | Utilities Payable | ||||||||||||||||||||
| 30-Dec | $ 2,700.00 | 30-Dec | $ 23,200.00 | a) | $ 260.00 | a) | $ 260.00 | ||||||||||||||||
| Salaries and Wages Expense | Rent Expense | Unearned Revenue | Dividend | ||||||||||||||||||||
| b) | $ 4,800.00 | b) | $ 800.00 | c) | $ 2,440.00 | d) | $ 4,000.00 | ||||||||||||||||
| Office Supplies Expense | Depreciation Expense | Accumulated Depreciation | Insurance Expense | ||||||||||||||||||||
| e) | $ 600.00 | f) | $ 340.00 | f) | $ 340.00 | g) | $ 500.00 | ||||||||||||||||
Note: I labelled each transactions that took place after the last mentioned date (i.e., Dec 30) from "A - H"
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