I nee help with the trail balance (the last picture) This is all the information that goes along with it.
I nee help with the trail balance (the last picture) This is all the information that goes along with it. On January 1, 20X7, Jacqueline Fernandez formed a corporation to purchase wheat harvesting eq...
On January 1, 20X7, Jacqueline Fernandez formed a corporation to purchase wheat harvesting equipment and provide contract support services to farmers throughout the Midwest. Information about the first year of operation follows:[1] Jan. 1 Investors provided $2,500,000 of cash in exchange for stock of Fernandez Corporation Jan. 1 Purchased combines and trucks in exchange for $1,000,000 cash and a $3,000,000 note payable Feb. 7 Purchased $40,000 of supplies on account that will be needed during the upcoming harvest Mar. 3 Paid...
On January 1, 2020, Mr. Wild formed a corporation to provide services to clients. Information about the first year of operation follows: Jan. 1 Investors provided $1,500,000 in cash in exchange for stock of The Wild Corporation. Jan. 1 Purchased equipment in exchange for $100,000 cash and a $1,900,000 note payable at an annual rate of 5%, payable every 6 months. Jan. 1 Purchased $45,000 of insurance that will cover the next 3 years. This was recorded as prepaid insurance....
On January 1, 2020, Mr. Wild formed a corporation to provide services to clients. Information about the first year of operation follows: Jan. 1 Investors provided $1,500,000 in cash in exchange for stock of The Wild Corporation. Jan. 1 Purchased equipment in exchange for $100,000 cash and a $1,900,000 note payable at an annual rate of 5%, payable every 6 months. Jan. 1 Purchased $45,000 of insurance that will cover the next 3 years. This was recorded as prepaid insurance....
Only need to answer WORKSHEET, POST CLOSING TRIAL BALANCE AND CLOSING ENTRIES JOURNAL. Complete all steps in accounting cycle. (LO 1, 2, 4) P4-5A Anya Clark opened Anya's Cleaning Service on July 1, 2017. During July, the following transactions were completed. GLS July 1 1 3 12 18 Anya invested $20,000 cash in the business. Purchased used truck for $12,000, paying $4,000 cash and the balance on account. Purchased cleaning supplies for $2,100 on account. Paid $1,800 cash on a...
I really just need help solving part H and I. Thank you in advance! 1 1 S 20 21 31 Mike Greenberg opened Kleene Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July Issued 12,000 shares of common stock for $12,000 cash. Purchased used truck for $8,000, paying $2,000 cash and the balance on account. 3 Purchased cleaning supplies for $900 on account. Paid $1,800 cash on a 1-year insurance policy effective July 1....
The Feng He Corporation, which is a technology company, was formed on January 1 of the current year. Transactions completed during the first year of operation follow. January 1: Issued 700,000 shares of common stock for $9,800,000, which is the par value of the stock. January 10: Acquired equipment in exchange for $1,500,000 cash and a $3,000,000 note payable. The note is due in 10 years. February 10: Paid $31,200 for a business insurance policy covering the two-year period beginning...
Below is the adjusted trail balance for Bally Services. BALLY SERVICES Adjusted Trial Balance December 31, 2018 DR CR Cash $ 11,000 Accounts Receivable 23,500 Supplies 3,000 Prepaid Insurance 2,500 Equipment 60,000 Accumulated Depreciation- $ 33,000 Equipment Accounts Payable 5,000 Interest Payable 150 Notes Payable 5,000 Unearned Service Revenue 5,600 Salaries and Wages Payable 1,300 Common Stock 10,000 Retained Earnings 3,500 Service Revenue 63,500 Salaries and Wages Expense 11,300 Insurance Expense 850 Interest Expense 500 Depreciation Expense 5,000 Supplies Expense...
GP Pro Inc. opened ProCleaners on March 1.2022. During March the following transactions were completed Mar 1 Issued 10,000 shares of common stock for $15,000 cash 1 Borrowed $6.000 cash by signing a 6-month. 6% 56,000 note payable Interest will be paid the first day of each subsequent month 1 Purchased used truck for $8,000 cash 2 Paid $1,500 cash to cover rent from March 1 through May 31 3 Pald $2,400 cash on a 6-month insurance policy effective March...
I need help with the journal entries, adjusting entries, classified balance sheet and the post closing balance PTUDlen. Laura Eddy opened Eddy's Carpet Cleaners on March 1. During March, the following transactions were completed. Mar 1 3 14 18 Invested $10,000 cash in the business. Purchased used truck for $6,000, paying $3,000 cash and the balance on account. Purchased cleaning supplies for $1,200 on account. Pald $1,200 cash on one-year insurance policy effective March 1. Billed customers $4,800 for cleaning...
Financial Accounting with IFRS 4/e (Kieso) ACR4.2 Lars Linken opened Lars Cleaners on March 1, 2020. Durng March, the following transac-tions were completed. Mar. 1 Shareholders invested €15.000 cash in the business in exchange for ordinary shares. Mar. 1 Borrowed €6,000 cash by signing a 6-month, 6%, €6,000 note payable. Interest will be paid the first day of each subsequent month. Mar. 1 Purchased used truck for €8,000 cash. Mar. 2 Paid €1,500 cash to cover rent from March 1...