1.Balance prepaid rent account at the month end?2.Balance prepaid insurance account the month end?3.Balance of total asstes at the month end?4.How much is total expense is this month?5.Wage expense is this month?6.Balance of cash account at the month end?7.Balance of total fixed asstes at the month end? Oct. 1 Aster Turane invested $49,000 cash, a $18,000 computer system, and$17,000 of office equipment in the business.2 Paid six months of rent in advance; $9,000.3 Purchased computer supplies on credit for $1,975 from Triple-One Supplies.5 Paid $24,000 cash for one year's premium on a property and liability insurancepolicy.6 Billed Norton Electric $11,300 for installing a new computer system.8 Paid for the computer supplies purchased from Triple-One Supplies.10 Hired Donald Gee as a part-time assistant for $345 per day, as needed.12 Billed Norton Electric another $1,850 for computer services rendered.15 Received $1,650 from Norton Electric on its account.17 Paid $400 to repair equipment damaged when moving into thenew office.20 Paid $2,400 for an advertisement in the local newspaper.22 Received the balance owing from Norton Electric on its account.28 Billed Whistler Resort $6,400 for services.31 Paid Donald Gee for nine days' work.31 Aster Turane withdrew $1,200 cash from the business for personal use. AccountNumberAccountAccount NameNumberAccount NameCashAccounts ReceivableComputer SuppliesPrepaid InsurancePrepaid RentOffice EquipmentComputer EquipmentAccounts Payable301101Aster Turane, WithdrawalsComputer Services RevenueWages ExpenseAdvertising ExpenseMileage ExpenseRent ExpenseInsurance ExpenseRepairs Expense, Computer699302106403126623128655131676163678167679201684Aster Turane, CapitalCharitable Donations Expense

The balance sheet represents the financial position of the business with assets and liabilities on a…

1.Balance prepaid rent account at the month end? 2.Balance prepaid insurance account the month end? 3.Balance of total asstes at the month end? 4.How much is total expense is this month? 5.Wage expense is this month? 6.Balance of cash account at the month end? 7.Balance of total fixed asstes at the month end?

1.Balance prepaid rent account at the month end? 2.Balance prepaid insurance account the month end? 3.Balance of total asstes at the month end? 4.How much is total expense is this month? 5.Wage expense is this month? 6.Balance of cash account at the month end? 7.Balance of total fixed asstes at the month end?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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