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Date | Cash | A/R | Inv | Prepa Rent | A/P | Unearned Revenue | Loan Payable | Common Share | RE | R/E/DD | Working |
Jan 1 | $150,000 | $ 150,000 | |||||||||
Jan 1 | $100,000 | $ 100,000 | |||||||||
Jan 2 | $ -8,000 | $ 5,000 | $ -3,000 | E | |||||||
Jan 8 | $ 26,200 | $ 26,200 | |||||||||
Jan 12 | $ 6,500 | $ 6,500 | |||||||||
Jan 16 | $ 9,100 | $ 9,100 | $ 18,200 | R | |||||||
Jan 16 | $ -9,200 | $ -9,200 | E | ||||||||
Jan 19 | $ -7,000 | $ -7,000 | |||||||||
Jan 25 | $ 7,100 | $ -7,100 | |||||||||
Jan 31 | $ -5,000 | $ -5,000 | Principal | ||||||||
Jan 31 | $ -750 | $ -750 | E | 100000*9%/12 | |||||||
Total | $251,950 | $ 2,000 | $ 17,000 | $ 5,000 | $ 19,200 | $ 6,500 | $ 95,000 | $ 150,000 | $ 5,250 |
AP2-9 (Transaction analyois and the basic accounting equation) Primrose Beauty Supplies Lra. was incorporated in January...
show the affect of transaction on the basic accounting equation and show the negative signs where the value is negative The Hughes Tools Company started business on October 1, 2019. Its fiscal year runs through to September 30 the following year. The following transactions occurred in the fiscal year that started on October 1, 2019, and ended on September 30, 2020. 1. 2. 3. 4. 5. 6. 7. On October 1, 2019, Jill Hughes invested $179,000 to start the business....
View Policies Current Attempt in Progress Bounce House Party Supply Ltd.rents bouncy castles and inflatable slides for parties, school fairs, and company picnics. The company also sells party supplies such as balloons, streamers, and piñatas. The company started business in September and had the following transactions in its first month: Date: Sept. 1 1 3 8 11 Bounce House Party Supply Ltd. issued 29,600 common shares for $192,400 cash. The company took out a $118,400 bank loan with an interest...
Bounce House Party Supply Ltd. rents bouncy castles and inflatable slides for parties, school fairs, and company picnics. The company also sells party supplies such as balloons, streamers, and piñatas. The company started business in September and had the following transactions in its first month: Analyze and record these transactions. (Enter amounts that decrease account balance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Indicate whether it is Revenues, Expenses or Dividends declared in...
Question 8 of 10 < 7 22 E Bounce House Party Supply Ltd. rents bouncy castles and inflatable slides for parties, school fairs, and company picnics. The company also sells party supplies such as balloons, streamers, and piñatas. The company started business in September and had the following transactions in its first month: Date: Sept. 1 1 3 8 Bounce House Party Supply Ltd. Issued 31,200 common shares for $202,800 cash, The company took out a $124,800 bank loan with...
The rest of the details: Gadgets, Inc. is incorporated and will begin operations on January 1, 2019. Its primary business is the manufacture and sale of gadgets. Because cash resources are limited, the company anticipates the need to have access to capital during the first year of operations and seeks to establish a line of credit with a local bank. The bank requires a complete operating and cash budget and pro-forma financial statements for 2019 as part of the loan...
Below is set of transactions for company, Orange Electronics Warehouse (“OEW”), from January 1, 2018 through December 31, 2018. Prepare the journal entries for each transaction shown, Also, please prepare any adjusting entries which may be required such as depreciation, amortization of prepaid expenses, etc., they can be done once at the end of the year The following transactions took place during the year ended December 31, 2018: (1) January 2 New investors contributed $225,000 cash to help in launching...
D. Step Four: Transfer posted entries to T accounts. II. Apply the accrual basis of accounting to correctly create adjusting entries in the preparation of financial statements: A. Step Five: Prepare the unadjusted trial balance. Note that you should use the T account balances completed in the previous step to prepare the unadjusted trial balance portion of the “Trial Balance” tab in your workbook. B. Step Six: Complete the “Adjusting Entries” tab in your workbook using the Step Six data...
please show journal entries for transactions 10 - 16 and the income statement requested Week-1 Basic Journal Entries Mason Yachts, a boat manufacturing company, begins business on 1/1/2017. Mason specializes in selling and repairing yachts. Alisting of all of Mason trial balance accounts can be found in 'trial balance tab below. For the transactions below, please record the necessary journal entries in the Journal Entries tab and update the balances in the trial balance. I have provided a "T-Account tab...
Apply the accrual basis of accounting to correctly create adjusting entries in the preparation of financial statements: A. Step Five: Prepare the unadjusted trial balance. Note that you should use the T account balances completed in the previous step to prepare the unadjusted trial balance portion of the “Trial Balance” tab in your workbook. B. Step Six: Complete the “Adjusting Entries” tab in your workbook using the Step Six data in the appendix. Note that you should take the adjusting...
AC 320 Ch. 3-Accounting Information Systems Case Introduction: You will compiete an entire accounting cycle for a retail company using both paper records and Excel spreadsheets. Just a word of caution, be sure to complete the assignment on your own It is okay to discuss with athers in the class; just make sure vou are the one actually completing your case inciding the Excel spreadsheets Too often instructors discover copying because students peroeive it is easy to do in Excel;...