March 2, 2019<<Your Name>>investment9 000 $ to open a business call, <<Your Name>>, consultant. March 3,...
- March 2, 2019<<Your Name>>investment9 000 $ to open a business call, <<Your Name>>, consultant.
- March 3, 2019you spend 2 500$ cash to buy computer Equipment.
- March 4,2019you spend 5 600 $ cash to buy office equipment.
- March 6,2019you buy on accountComputer Equipmentfor 380 $ andOffice equipment for 1 280 $.
- March 9, 2019you receive Professional Fees of 2 200 $ in cash
- March10, 2019you pay the rent 1 000 $.
- March14,2019you prepare the salary for the secretary. Gross Income is $700.
- March 16, 2019you have provided Professional Fees of 1 700 $ on account
- March 20, 2019 you receive total payment 1 700 $ from client for services ofMarch 16, 2019
- March21,2019you make a partial payment of 900 $ on purchase made March 6, 2019
- March 22,2019you make a withdraw of 1 100 $ for personal use
Note: In this practice, you need to calculate the deductions and charges related to salary and add the required account. Salary is for 2 weeks
- Prepare the General Journal.
- Prepare General Ledger.
- Prepare the Income Statement.
- Prepare the Statement of Owner’s Equity.
- Prepare the Balance Sheet.
Homework Answers
Regarding deduction and charges of salary, I will need more information for the same. For now, I have considered $700 as salary payable.
Please refer the following images for solution.
All amounts are in $.
Page 1
Page 2
Page 3
Page 4
Add Answer to:
March 2, 2019<<Your Name>>investment9 000
$ to open a business call, <<Your Name>>,
consultant.
March 3,...
Dorsey Company’s partial worksheet for the month ended March 31, 2019, is shown below. Open the...
Dorsey Company’s partial worksheet for the month ended March 31, 2019, is shown below. Open the owner’s capital account (account number 301) in the general ledger and record the March 1, 2019, balance of $40,500 shown on the worksheet. INCOME STATEMENT BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT Cash 10,200 Accounts Receivable 14,400 Supplies 5,350 Equipment 38,500 Accum. Depr. - Equip. 13,400 Accounts Payable 11,200 N. Dorsey, Capital 40,500 N. Dorsey, Drawing 4,700 Fees Income 29,800 Salaries Expense 15,100...
Dorsey Company's partial worksheet for the month ended March 31, 2019, is shown below. Open the...
Dorsey Company's partial worksheet for the month ended March 31, 2019, is shown below. Open the owner's capital account (account number 301) in the general ledger and record the March 1, 2019, balance of $42,000 shown on the worksheet. INCOME BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT Cash Accounts Receivable Supplies Equipnent Aecun. Depr.Equip Accounts Payable N. Dorsey, Capital N. Dorsey, Drawing Fees Income Salaries Expense Rent Expense Supplies Expense Depr. Exp.-Equip Totals Net Income 10,500 15, 000 S,500...
Dorsey Company's partial worksheet for the month ended March 31, 2019, is shown below. Open the...
Dorsey Company's partial worksheet for the month ended March 31, 2019, is shown below. Open the owner's capital account (account number 301) in the general ledger and record the March 1, 2019, balance of $39,500 shown on the worksheet. Income Statement Balance Sheet Account Name Debit Credit Debit Credit Cash 10,000 Account Receivable 14,000 Supplies 5,250 Equipment 37,500 Accum. Depr. -Equip 13,000 Accounts Payable 11,000 N. Dorsey, Capital 39,500 N, Dorsey, Drawing 4,500 Fees Income 29,000 Salaries Expense 14,...
The adjusted ledger accounts of RD Consulting on December 31, 2019, appear as follows Account Name...
The adjusted ledger accounts of RD Consulting on December 31, 2019, appear as follows Account Name Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Roger Dye, Capital Roger Dye, Drawing Fees Income Supplies Expense Insurance Expense Depreciation Expense-Equipment Salaries Expense Utilities Expense Balance 7,100 1,950 1,800 710 17,500 3, see 3,150 15,300 3,600 16, 800 760 610 560 3,15e 1,01e Prepare the Balance Sheet and Income Statement columns of the worksheet. Prepare the closing entries for RD...
LACICISE (uue Moni Saved Help Dorsey Company's partial worksheet for the month ended March 31, 2019,...
LACICISE (uue Moni Saved Help Dorsey Company's partial worksheet for the month ended March 31, 2019, is shown below. Open the owner's capital account (account number 301) in the general ledger and record the March 1, 2019, balance of $40,000 shown on the worksheet. INCOME STATEMENT DEBIT CREDIT BALANCE SHEET DEBIT CREDIT 10, 100 14,200 5,300 38,000 13, 200 11,100 40,000 ACCOUNT NAME Cash Accounts Receivable Supplies Equipment Accum. Depr.- Equip. Accounts Payable N. Dorsey, Capital N. Dorsey, Drawing Fees...
Question 2: Journalize Transactions /16 marks On March 1, 2019 Fahad Bader opened an office for...
Question 2: Journalize Transactions /16 marks On March 1, 2019 Fahad Bader opened an office for legal law consultations. The following are the transactions that occurred during the first month of operations: • March 1: Fahad Invested $ 30,000 cash to start the business, • March 2: Hired two employees to work in the office, they will each be paid a salary of 3,050 per month March 2: Purchased equipment costing $ 2,500 on account March 3: The business provided...
Make T-accounts for the following accounts that appear in the general ledger of The Dog &...
Make T-accounts for the following accounts that appear in the
general ledger of The Dog & Cat Hospital, owned by Kate Miller,
a veterinarian: Cash; Accounts Receivable; Supplies; Office
Equipment; Accounts Payable; Common Stock; Dividends; Professional
Fees Earned; Salaries Expense; and Rent Expense.
Using the accounting equation, record each of the transactions
in columnar format. Prepare journal entries and record the
following December transactions in the T-accounts and key all
entries with the number identifying the transaction. Finally
determine the...
Date: 19 March 2019 No: Name: EGN 3212 Engineering Economy LO3- PW & AW Analysis ,000, and Annual...
Date: 19 March 2019 No: Name: EGN 3212 Engineering Economy LO3- PW & AW Analysis ,000, and Annual 1. For a project following information is known: Life 20 years, Initial cost $ 20 (10 marks] Maintenance-S 1500 per Calculate the pw of this project for-12%. 2. Refer to cash flow diagram for 1-12%. Calculate Aw for 1 life cycle. (10 marks] 0 4 5 Al-5 = $3,000 $5,000
Date: 19 March 2019 No: Name: EGN 3212 Engineering Economy LO3- PW...
Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general...
Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general ledger of Mead Pet Hospital, owned by R. Mead, a veterinarian Cash: Accounts Receivable: Supplies Office Equipment Accounts Payable; Common Stock Dividends: Professional Fees Earned: Salaries Expense, and Rent Expense. Using the accounting equation, record each of the transactions in columnar format. Prepare journal entries and record the following December transactions in the T- accounts and key all entries with the number identifying the...
e camous: Login ercise Soved The adjusted ledger accounts of RD Consulting on December 31. 2019,...
e camous: Login ercise Soved The adjusted ledger accounts of RD Consulting on December 31. 2019, appear as follows. Account Name Balance 7,600 2,200 2, 050 760 20,000 4,250 3, 400 16 300 4,100 19,300 810 660 610 3, 400 1,060 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Roger Dye, Capital Roger Dye, Drawing Fees Income Supplies Expense Insurance Expense Depreclation Expense-Equipment salaries Expense Utilities xpense Prepare the Balance Sheet and Income Statement columns of the...
Dorsey Company's partial worksheet for the month ended March 31, 2019, is shown below. Open the owner's capital account (account number 301) in the general ledger and record the March 1, 2019, balance of $42,000 shown on the worksheet. INCOME BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT Cash Accounts Receivable Supplies Equipnent Aecun. Depr.Equip Accounts Payable N. Dorsey, Capital N. Dorsey, Drawing Fees Income Salaries Expense Rent Expense Supplies Expense Depr. Exp.-Equip Totals Net Income 10,500 15, 000 S,500...
The adjusted ledger accounts of RD Consulting on December 31, 2019, appear as follows Account Name Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Roger Dye, Capital Roger Dye, Drawing Fees Income Supplies Expense Insurance Expense Depreciation Expense-Equipment Salaries Expense Utilities Expense Balance 7,100 1,950 1,800 710 17,500 3, see 3,150 15,300 3,600 16, 800 760 610 560 3,15e 1,01e Prepare the Balance Sheet and Income Statement columns of the worksheet. Prepare the closing entries for RD...
LACICISE (uue Moni Saved Help Dorsey Company's partial worksheet for the month ended March 31, 2019, is shown below. Open the owner's capital account (account number 301) in the general ledger and record the March 1, 2019, balance of $40,000 shown on the worksheet. INCOME STATEMENT DEBIT CREDIT BALANCE SHEET DEBIT CREDIT 10, 100 14,200 5,300 38,000 13, 200 11,100 40,000 ACCOUNT NAME Cash Accounts Receivable Supplies Equipment Accum. Depr.- Equip. Accounts Payable N. Dorsey, Capital N. Dorsey, Drawing Fees...
Question 2: Journalize Transactions /16 marks On March 1, 2019 Fahad Bader opened an office for legal law consultations. The following are the transactions that occurred during the first month of operations: • March 1: Fahad Invested $ 30,000 cash to start the business, • March 2: Hired two employees to work in the office, they will each be paid a salary of 3,050 per month March 2: Purchased equipment costing $ 2,500 on account March 3: The business provided...
Make T-accounts for the following accounts that appear in the
general ledger of The Dog & Cat Hospital, owned by Kate Miller,
a veterinarian: Cash; Accounts Receivable; Supplies; Office
Equipment; Accounts Payable; Common Stock; Dividends; Professional
Fees Earned; Salaries Expense; and Rent Expense.
Using the accounting equation, record each of the transactions
in columnar format. Prepare journal entries and record the
following December transactions in the T-accounts and key all
entries with the number identifying the transaction. Finally
determine the...
Date: 19 March 2019 No: Name: EGN 3212 Engineering Economy LO3- PW & AW Analysis ,000, and Annual 1. For a project following information is known: Life 20 years, Initial cost $ 20 (10 marks] Maintenance-S 1500 per Calculate the pw of this project for-12%. 2. Refer to cash flow diagram for 1-12%. Calculate Aw for 1 life cycle. (10 marks] 0 4 5 Al-5 = $3,000 $5,000
Date: 19 March 2019 No: Name: EGN 3212 Engineering Economy LO3- PW...
Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general ledger of Mead Pet Hospital, owned by R. Mead, a veterinarian Cash: Accounts Receivable: Supplies Office Equipment Accounts Payable; Common Stock Dividends: Professional Fees Earned: Salaries Expense, and Rent Expense. Using the accounting equation, record each of the transactions in columnar format. Prepare journal entries and record the following December transactions in the T- accounts and key all entries with the number identifying the...
e camous: Login ercise Soved The adjusted ledger accounts of RD Consulting on December 31. 2019, appear as follows. Account Name Balance 7,600 2,200 2, 050 760 20,000 4,250 3, 400 16 300 4,100 19,300 810 660 610 3, 400 1,060 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Roger Dye, Capital Roger Dye, Drawing Fees Income Supplies Expense Insurance Expense Depreclation Expense-Equipment salaries Expense Utilities xpense Prepare the Balance Sheet and Income Statement columns of the...
Most questions answered within 3 hours.
-
What kinds of policies should be considered when individuals
decisions may likely impact public expense? For...
asked 2 minutes ago -
The financial statements of Apple Inc. show the following
numbers for fiscal year 2017 ($000,000):
Revenue...
asked 7 minutes ago -
Suppose that you are given the following results. Find the
correlation coefficient of the data.
sx...
asked 16 minutes ago -
The width of a tool used for semiconductor manufacturing
is assumed to be normally distributed with...
asked 18 minutes ago -
A
runaway train car that has a mass of 1,400 kg travels at a speed of...
asked 22 minutes ago -
The expected abnormal earnings of a firm that has earnings of
$40,000 with a required equity...
asked 21 minutes ago -
A spherical surface completely surrounds a collection of
charges. Find the electric flux through the surface...
asked 36 minutes ago -
Two capacitors with capacitances of 12 and 18.1 µF,
respectively, are connected in parallel. The system...
asked 22 minutes ago -
Let's say you are a small business owner that provides
business-to-business software-as-a-service to non-profit
organizations. Your...
asked 27 minutes ago -
A circuit is constructed with five resistors and a battery as
shown. The battery voltage is...
asked 35 minutes ago -
A. What is the U.S.
economic system and what do you think are the advantages and...
asked 36 minutes ago -
A student measures the following data in a calorimetry
experiment designed to determine the specific heat...
asked 50 minutes ago