Cash | Supplies | |||||||
Beg. Bal. | $0 | Beg. Bal. | $0 | |||||
(a) | $96,000 | $7,500 | (b) | (e) | $950 | |||
$34,000 | (d) | |||||||
$230 | (f) | |||||||
End. Bal. | $54,270 | End. Bal. | $950 | |||||
Equipment | Land | |||||||
Beg. Bal. | $0 | Beg. Bal. | $0 | |||||
(d) | $34,000 | (b) | $19,000 | |||||
End. Bal. | $34,000 | End. Bal. | $19,000 | |||||
Accounts payable | Notes payable (long-term) | |||||||
Beg. Bal. | $0 | Beg. Bal. | $0 | |||||
(f) | $230 | $950 | (e) | $11,500 | (b) | |||
End. Bal. | End. Bal. | $11,500 | ||||||
Common stock | ||||||||
Beg. Bal. | $0 | |||||||
$96,000 | (a) | |||||||
End. Bal. | $96,000 | |||||||
*No Entry for transaction c because no transaction & No entry for g because its a personal transaction.
a. Received $96,000 cash when issuing 9,600 new common shares. b. Purchased land by paying $7,500...
a. Received $96,000 cash when Issuing 9,600 new common shares. b. Purchased land by paying $7,500 cash and signing a note payable for $11,500 due in three years. c. Hired a new aesthetician for a salary of $2,600 a month, starting next month. d. NGS purchased a company car for $34,000 cash (list price of $37,000) to assist in running errands for the business. e. Bought and received $950 in supplies for the spa on credit. Pald $230 of the...
a. Received $80,000 cash when issuing 8,000 new common shares. b. Purchased land by paying $2,000 cash and signing a note payable for $7,000 due in three years. c. Hired a new aesthetician for a salary of $1,000 a month, starting next month. d. NGS purchased a company car for $18,000 cash (list price of $21,000) to assist in running errands for the business. e. Bought and received $1,000 in supplies for the spa on credit. f. Paid $350 of...
Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30. a. Received $96,000 cash when issuing 9,600 new common shares. b. Purchased land by paying $7,500 cash and signing a note payable for $11.500 due in three years. c. Hired a new aesthetician for a salary of $2,600 a month, starting next month....
Check my work Part 2 of 4 Required information The following information applies to the questions displayed below.) Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30. Doints eBook a. Received $100,000 cash when issuing 10,000 new common shares. b. Purchased land by paying $9,500 cash and signing a note payable for...
CLA1 Accounting for the establishment of a business LU 2-1, LU 2-2, LU 2-3, LU 2-4, LU 2-5) The following information applies to the questions displayed below] Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30 a Received 585,000 cash when issuing 8,500 new common shares b. Purchased and by paying $4,500...
Required information CC2-1 Accounting for the Establishment of a Business [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5) [The following information applies to the questions displayed below.) Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30. a. Received $91,000 cash when issuing 9,100 new common shares. b. Purchased land by...
Check my work 11 Part 4 of 4 Required information The following information applies to the questions displayed below.) Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30. Doints eBook a. Received $100,000 cash when issuing 10,000 new common shares. b. Purchased land by paying $9,500 cash and signing a note payable...
CC2-1 Accounting for the Establishment of a Business [LO1, LO2, LO3, LO4, LO5] Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30, 2017 a. Received $78,300 cash when issuing 7,830 new shares. b. Purchased some land by paying $1,700 cash and signing a note payable for $8,500 due in 2017. c. Hired...
a. Borrowed $3,940 from a local bank on a note due in six months. b. Received $4,630 cash from investors and issued common stock to them. c. Purchased $1,000 in equipment, paying $200 cash and promising the rest on a note due in one year d. Paid $300 cash for supplies. e. Bought and received $700 of supplies on account. Post the effects to the appropriate T-accounts and determine ending account balances. Show a beginning balance of zero. Cash Supplies...
a. Borrowed $4,540 from a local bank on a note due in six months. b. Received $5,230 cash from investors and issued common stock to them. c. Purchased $2,200 in equipment, paying $800 cash and promising the rest on a note due in one year. d. Paid $900 cash for supplies. e. Bought and received $1,300 of supplies on account. Post the effects to the appropriate T-accounts and determine ending account balances. Show a beginning balance of zero. Cash Supplies...