1. Jan 1: Business started with the capital of $50,000. wwww 2. Jan 2: XYZ Ltd. paid registration and licensing fees for the business, $400. 3. Jan 4: XYZ Ltd. purchased furniture and other fixtures to use in the office for $2,000 for cash. 4: Jan 5: XYZ Ltd. purchased service supplies on account for $1,000. 5: Jan 7: Equipment purchased to repair computers for $10,000 on account. The useful life of the equipment is expected to be 5 years and the residual value at end of useful life will be $1,000. 6: Jan 8: Computer purchased to check the hardware and feasibility of repaired computer for $4,000. The expected life will be 3 years with no salvage value. 7: Jan 10: The company received cash of $2,000 for services rendered to Julie. 8: Jan 14: Services rendered to Jones for $7,000 on the account. The term for the same is 2/10, n/30. 9: Jan 16: XYZ Ltd. Again invested $20,000 additional in the business. 10: Jan 20: Rendered services to big corporations based on the agreement to collect money for services provided on Jan 30. 11: Jan 22: Company paid off the due amount from Jan 5, by issuing a check for $10,000. 12: Jan 24: Owner withdraw cash of $200 from the company for his personal use. 13: Jan 28: Jones paid off the money by writing a check to XYZ Ltd. (Hint: See transaction 8 14: Jan 30: Company paid rent of $1,500. 15: Jan 31: Paid salaries to the workers amounting to $1.800.
1. Jan 1: Business started with the capital of $50,000. wwww 2. Jan 2: XYZ Ltd. paid registration and licensing fees for the business, $400. 3. Jan 4: XYZ Ltd. purchased furniture and other fixtures to use in the office for $2,000 for cash. 4: Jan 5: XYZ Ltd. purchased service supplies on account for $1,000. 5: Jan 7: Equipment purchased to repair computers for $10,000 on account. The useful life of the equipment is expected to be 5 years and the residual value at end of useful life will be $1,000. 6: Jan 8: Computer purchased to check the hardware and feasibility of repaired computer for $4,000. The expected life will be 3 years with no salvage value. 7: Jan 10: The company received cash of $2,000 for services rendered to Julie. 8: Jan 14: Services rendered to Jones for $7,000 on the account. The term for the same is 2/10, n/30. 9: Jan 16: XYZ Ltd. Again invested $20,000 additional in the business. 10: Jan 20: Rendered services to big corporations based on the agreement to collect money for services provided on Jan 30. 11: Jan 22: Company paid off the due amount from Jan 5, by issuing a check for $10,000. 12: Jan 24: Owner withdraw cash of $200 from the company for his personal use. 13: Jan 28: Jones paid off the money by writing a check to XYZ Ltd. (Hint: See transaction 8 14: Jan 30: Company paid rent of $1,500. 15: Jan 31: Paid salaries to the workers amounting to $1.800.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How can I show in accounting as a table?
Transcribed Image Text:1. Jan 1: Business started with the capital of $50,000.
2. Jan 2: XYZ Ltd. paid registration and licensing fees for the business, $400.
3. Jan 4: XYZ Ltd. purchased furniture and other fixtures to use in the office for $2,000 for cash.,
4: Jan 5: XYZ Ltd. purchased service supplies on account for $1,000.
5: Jan 7: Equipment purchased to repair computers for $10,000 on account. The useful life of the
equipment is expected to be 5 years and the residual value at end of useful life will be $1,000.
6: Jan 8: Computer purchased to check the hardware and feasibility of repaired computer for $4,000.
The expected life will be 3 years with no salvage value.
7: Jan 10: The company received cash of $2,000 for services rendered to Julie.
8: Jan 14: Services rendered to Jones for $7,000 on the account. The term for the samę is 2/10, n/30.
9: Jan 16: XYZ Ltd. Again invested $20,000 additional in the business.
10: Jan 20: Rendered services to big corporations based on the agreement to collect money for
w. w ww ww
services provided on Jan 30.
11: Jan 22: Company paid off the due amount from Jan 5, by issuing a check for $10,000.
12: Jan 24: Owner withdraw cash of $200 from the company for his personal use.
13: Jan 28: Jones paid off the money by writing a check to XYZ Ltd. (Hint: See transaction 8
14: Jan 30: Çompany paid rent of $1,500.
15: Jan 31: Paid salaries to the workers amounting to $1.800.
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