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Aduke Zhawaki is a talented musician who runs a business teaching music and playing ingowy business...
I have no idea how to do this. cions, post, and d. Prepare a trial balance...
I have no idea how to do this.
cions, post, and d. Prepare a trial balance at the end of May. Taking It Further A friend of yours is considering buying Sequel Theatre from the current owner, Using the information in the trial balance, comment on whether or not this may be a sound company for your friend to purchase. P2.8A (LO 2. 3. 4) AP Aduke Zhawaki is a talented musician who runs a business teaching music and playing...
Problem 2 (39 points) Funky Music provides music lessons to student musicians. Adjusting entries are performed on...
Problem 2 (39 points) Funky Music provides music lessons to student musicians. Adjusting entries are performed on a monthly basis but performs closing entries annually on December 31. An unadjusted trial balance dated December 31, 2015, is provided below. (Bear in mind that adjusting entries already have been made for the first eleven months of 2015, but not for December.) Data for adjustments: Lessons revenue earned but not yet recorded as of December 31, 2015, amounts to $8,210 2. Records...
1. On June 1. 2018. Lee established a proprietorship known as Music Depot. Using an extensive...
1. On June 1. 2018. Lee established a proprietorship known as Music Depot. Using an extensive collection of music CDs, Lee will serve as a disc jockey on a fee basis for weddings, college partiesand other events. During June, Lee entered into the following transactions June 1 Deposited $8,000 ina checking account in the name of Music Depot 2 Received $2.400 from a local radio station for serving as the guest disc jockey for June 2 Agreed to share office...
On June 1, 2018. Lee established a proprietorship known as Music Depot. Using an extensive collection...
On June 1, 2018. Lee established a proprietorship known as Music Depot. Using an extensive collection of music CDs Lee will serve as a disc jockey on a fee basis for weddings, college parties, and other events. During June, Lee entered into the following transactions June 1 Deposited $8,000 in a checking account in the name of Music Depot 2 Received $2.400 from a local radio station for serving as the guest disc jockey for June 2 Agreed to share...
On November 1, 2018, Kris Lehman established an interior decorating business, Modern Designs. During the month,...
On November 1, 2018, Kris Lehman established an interior decorating business, Modern Designs. During the month, Kris completed the following transactions related to the business: Nov. 1 Kris transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $36,000. 1 Paid rent for period of November 1 to end of month, $4,000. 6 Purchased office equipment on account, $16,000. 8 Purchased a truck for $43,000 paying $4,300 cash and...
On November 1, 2018, Kris Lehman established an interior decorating business, Modern Designs. During the month,...
On November 1, 2018, Kris Lehman established an interior decorating business, Modern Designs. During the month, Kris completed the following transactions related to the business: Nov. 1 Kris transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $36,000. 1 Paid rent for period of November 1 to end of month, $4,000. 6 Purchased office equipment on account, $16,000. 8 Purchased a truck for $43,000 paying $4,300 cash and...
On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts...
On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Credit $ 500 2,760 400 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 Paid $1,220 for salaries due employees, of which $430 is for November and $790 is for...
Answer instructions a-f Prepare the adjusting entries December 31, 2020. P3.5A (LO 2, 3, 4 an...
Answer instructions a-f
Prepare the adjusting entries December 31, 2020. P3.5A (LO 2, 3, 4 an ancial Statement on November 1, 2020, the account balances of Hamm Equipment Repair were as follows. No. No. 101 112 126 153 Cash Accounts Receivable Supplies Equipment Debit $ 2,400 4,250 1.800 12,000 154 201 209 212 301 Credit Accumulated Depreciation Equipment S2,000 Accounts Payable 2.600 Uncamned Service Revenue 1,200 Salaries and Wages Payable 700 Owner's Capital 13,950 $20.450 $20,450 During November, the following...
The transactions completed by PS Music during June 2018 were described at the end of Chapter...
The transactions completed by PS Music during June 2018 were described at the end of Chapter 1. The following transactions were completed during July, the second month of the business's operations Peyton Smith made an additional investment in PS Music in exchange for common stock by depositing Jul $5,000 in PS Music's checking account Instead of continuing to share office space with a local real estate agency, Peyton decided to rent office space near a local music storee. Paid rent...
(45 min) L01,2,3 The following transactions occurred in November 201X for A. Hopper's Placement Agency: 3B-3....
(45 min) L01,2,3 The following transactions occurred in November 201X for A. Hopper's Placement Agency: 3B-3. 201X Nov. 1 A. Hopper invested $15,000 cash in the placement agency. 1 Bought equipment from Tiger Co. for $2,100 on account. 3 Earned placement fees of $3,300, but payment will not be received until December. 5 A. Hopper withdrew $1,000 for personal use. 7 Paid wages expense, $400. 9 Placed a client on a local TV show, receiving $14,000 cash. Check Figure: Total...
I have no idea how to do this.
cions, post, and d. Prepare a trial balance at the end of May. Taking It Further A friend of yours is considering buying Sequel Theatre from the current owner, Using the information in the trial balance, comment on whether or not this may be a sound company for your friend to purchase. P2.8A (LO 2. 3. 4) AP Aduke Zhawaki is a talented musician who runs a business teaching music and playing...
Problem 2 (39 points) Funky Music provides music lessons to student musicians. Adjusting entries are performed on a monthly basis but performs closing entries annually on December 31. An unadjusted trial balance dated December 31, 2015, is provided below. (Bear in mind that adjusting entries already have been made for the first eleven months of 2015, but not for December.) Data for adjustments: Lessons revenue earned but not yet recorded as of December 31, 2015, amounts to $8,210 2. Records...
1. On June 1. 2018. Lee established a proprietorship known as Music Depot. Using an extensive collection of music CDs, Lee will serve as a disc jockey on a fee basis for weddings, college partiesand other events. During June, Lee entered into the following transactions June 1 Deposited $8,000 ina checking account in the name of Music Depot 2 Received $2.400 from a local radio station for serving as the guest disc jockey for June 2 Agreed to share office...
On June 1, 2018. Lee established a proprietorship known as Music Depot. Using an extensive collection of music CDs Lee will serve as a disc jockey on a fee basis for weddings, college parties, and other events. During June, Lee entered into the following transactions June 1 Deposited $8,000 in a checking account in the name of Music Depot 2 Received $2.400 from a local radio station for serving as the guest disc jockey for June 2 Agreed to share...
On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Credit $ 500 2,760 400 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 Paid $1,220 for salaries due employees, of which $430 is for November and $790 is for...
Answer instructions a-f
Prepare the adjusting entries December 31, 2020. P3.5A (LO 2, 3, 4 an ancial Statement on November 1, 2020, the account balances of Hamm Equipment Repair were as follows. No. No. 101 112 126 153 Cash Accounts Receivable Supplies Equipment Debit $ 2,400 4,250 1.800 12,000 154 201 209 212 301 Credit Accumulated Depreciation Equipment S2,000 Accounts Payable 2.600 Uncamned Service Revenue 1,200 Salaries and Wages Payable 700 Owner's Capital 13,950 $20.450 $20,450 During November, the following...
The transactions completed by PS Music during June 2018 were described at the end of Chapter 1. The following transactions were completed during July, the second month of the business's operations Peyton Smith made an additional investment in PS Music in exchange for common stock by depositing Jul $5,000 in PS Music's checking account Instead of continuing to share office space with a local real estate agency, Peyton decided to rent office space near a local music storee. Paid rent...
(45 min) L01,2,3 The following transactions occurred in November 201X for A. Hopper's Placement Agency: 3B-3. 201X Nov. 1 A. Hopper invested $15,000 cash in the placement agency. 1 Bought equipment from Tiger Co. for $2,100 on account. 3 Earned placement fees of $3,300, but payment will not be received until December. 5 A. Hopper withdrew $1,000 for personal use. 7 Paid wages expense, $400. 9 Placed a client on a local TV show, receiving $14,000 cash. Check Figure: Total...
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