Question

PLZ DON'T USE HANDWRITING, TYPE OUT THE ANSWER.

THANK YOU

The following is a list of transactions that have occurred during the month of August. Date- August 12 August 14 August 2- August 2- August 3- August 4- August 52 August 10- August 15+ August 18+ August 22 August 28- August 312 August 312 August 312 Transaction Started the business with $606,840 in cash. Borrowed ($2,275,650) + $150,000 in the form of a note payable. Purchased land with cash for ($1,517,100).- Purchased building with cash for ($758,550). Purchased equipment on account for (S1,011,400). Purchased a 12-month insurance policy for $12,000.- Purchased $150,000 of Food and Beverage Inventory on account. Paid $2.800 in cash for advertisinge Paid a utility bill of $1,500 in cash Received a $1,250 cash deposit for a future banquet Paid $3,500 in cash for china that is expensed immediately Paid $90,000 in wages in cash for August 1-28 work Generated $150,000 in food revenue for the entire month. The guests paid cash. Generated $30,000 in beverage revenue for the entire month. The guests paid cash.- You withdraw $1,200 from the business for personal use.

1. Complete the unadjusted trial balance in good form as of August 31, 2020 (make sure you have headers and totals).

Plz, type the answer thanks a lot.

Answer 1

Solution:

Credit Trial Balance (Unadjusted) as of Aug. 31, 2020 Debit Cash 827,090 Prepaid Insurance 12,000 Merchandise Inventory 150,000 Land 1,517,100 Building 758,550 Equipment 1,011,400 Advertising Expense 2,800 Utilities Expense 1,500 Miscellaneous expense 3,500 Wages expense 90,000 Drawings 1,200 Capital Notes payable Accounts payable Unearned Revenue Food Revenue Beverage Revenue Total $4,375,140 $ 606,840 2,425,650 1,161,400 1,250 150,000 30,000 4,375,140

Note: Instead of using 'Food revenue' & 'Beverage revenue', you can also use single 'Sales Revenue' account by adding the figures of both accounts.