Question

Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expa

Required: 2. Record in the T-accounts the effects of each transaction for Traveling Gourmet, Inc., in March. Cash Accounts Re

Note Payable Mortgage Payable Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 Common Stock Additional Paid-in Capital Beg. Bal. B

Print Utilities Expense Wages Expense Beg. Bal. Beg. Bal. eferences End. Bal. 0 End. Bal. 0 Fuel Expense Beg. Bal. End. Bal.

0 1
Add a comment Improve this question Transcribed image text
Answer #1
Cash Accounts Receivable
Beg. Bal. 0 Beg. Bal. 0
a. 192000 104000 b. a. 3600
c. 66000 13400 d. e. 1920
e. 3880 523 h.
f. 17700 9480 i. End. Bal. 5520
920 j.
94000 k.
End. Bal. 57257
Supplies Equipment
Beg. Bal. 0 Beg. Bal. 0
a. 2000 11150 f. a. 24700
d. 13400 k. 66000
End. Bal. 4250 End. Bal. 90700
Building Accounts Payable
Beg. Bal. 0 Beg. Bal. 0
b. 520000 580 g.
k. 28000
End. Bal. 548000 End. Bal. 580
Note Payable Mortgage Payable
Beg. Bal. 0 Beg. Bal. 0
66000 c. 416000 b.
End. Bal. 66000 End. Bal. 416000
Common Stock Additional Paid-in Capital
Beg. Bal. 0 Beg. Bal. 0
1640 a. 220660 a.
End. Bal. 1640 End. Bal. 220660
Retained Earnings Food Sales Revenue
Beg. Bal. 0 Beg. Bal. 0
j. 920 17700 f.
End. Bal. 920 End. Bal. 17700
Catering Sales Revenue Supplies Expense
Beg. Bal. 0 Beg. Bal. 0
5800 e. f. 11150
End. Bal. 5800 End. Bal. 11150
Utilities Expense Wages Expense
Beg. Bal. 0 Beg. Bal. 0
g. 580 i. 9480
End. Bal. 580 End. Bal. 9480
Fuel Expense
Beg. Bal. 0
h. 523
End. Bal. 523
Add a comment
Know the answer?
Add Answer to:
Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March,...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March,...

    Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March: Received $87,000 cash from each of the two shareholders to form the corporation, in addition to $2,700 in accounts receivable, $6,700 in equipment, a van (equipment) appraised at a fair value of $14,400,...

  • Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March,...

    Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March: Received $100,000 cash from each of the two shareholders to form the corporation, in addition to $4,000 in accounts receivable, $9,300 in equipment, a van (equipment) appraised at a fair value of $17,000,...

  • Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March,...

    Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March: Received $83,000 cash from each of the two shareholders to form the corporation, in addition to $2,300 in accounts receivable, $5,900 in equipment, a van (equipment) appraised at a fair value of $13,600,...

  • Help Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In...

    Help Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March: a. Received $95.000 cash from each of the two shareholders to form the corporation. In addition to $3,500 in accounts receivable, $8,300 in equipment, a van (equipment) appraised at a fair value...

  • Please help finish. Lisa Frees and Amelia Ellinger have been operating a catering business for several...

    Please help finish. Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March: a. Received $102,000 cash from each of the two shareholders to form the corporation, in addition to $4,200 in accounts receivable, $9,700 in equipment, a van (equipment) appraised at a...

  • Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March,...

    Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March: a. Received $103,000 cash from each of the two shareholders to form the corporation, in addition to $4,300 in accounts receivable, $9,900 in equipment, a van (equipment) appraised at a fair value of...

  • Required information [The following information applies to the questions displayed below.] Lisa Frees and Amelia Ellinger...

    Required information [The following information applies to the questions displayed below.] Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March: a. Received $93,000 cash from each of the two shareholders to form the corporation, in addition to $3,300 in accounts receivable, $7,900...

  • Required information (The following information applies to the questions displayed below.) Lisa Frees and Amelia Ellinger...

    Required information (The following information applies to the questions displayed below.) Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March: a. Received $103,000 cash from each of the two shareholders to form the corporation, in addition to $4,300 in accounts receivable, $9,900...

  • Required information [The following information applies to the questions displayed below. Lisa Frees and Amelia Ellinger...

    Required information [The following information applies to the questions displayed below. Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March: a. Received $85,000 cash from each of the two shareholders to form the corporation, in addition to $2,500 in accounts receivable, $6,300...

  • Required information The following information applies to the questions displayed below) Lisa Frees and Amelia Ellinger...

    Required information The following information applies to the questions displayed below) Lisa Frees and Amelia Ellinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business as a corporation called Traveling Gourmet, Inc. The following transactions occurred in March a. Received $80,000 cash from each of the two shareholders to form the corporation. In addition to $2,000 in accounts receivable, $5,300...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT