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1.Prepare Statement of owner's equity 2.Calculate current ratio

1.Prepare Statement of owner's equity 2.Calculate current ratio

FINANCIAL ACCOUNTING
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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1.Prepare Statement of owner's equity

2.Calculate current ratio

The Puchita CO. Transactions Date Accounting Transaction Thai Baht Jan. 27 Pakanan invested cash in company 1,250,000 Jan. 27 Porrarat invested cash in company 1,300,000 Jan. 27 Jun Li invested computer equipment in company 450,000 Feb. 1 Company puchased annual insurance premium Company purchased office equipment on credit Company paid for two month's rent Company purchased office supplies on credit Company paid cash for February cleaning services Company purchased electrical equipment total price as 60,000 Baht, but on 12,000 Feb. 2 610,000 Feb. 3 12,000 Feb. 5 30,000 Feb. 10 2,500 Feb. 12 60,000 this date company paid cash to the seller only 40000 Baht Company completed services and received cash 40,000 Feb. 17 14,000 Company provided services to Jinnipa on credit Company paid cash for purchasing office equipment on credit on Jan. 29 Company completed services to Pongsiri and she will paid in next 30 days Feb. 19 10,000 Feb. 24 61,000 Feb. 26 12,000 Company collected cash for work completed from Rawin Company paid for employees's salary (since Jan. 27 until Feb. 28) Company received cash from Jinnipa for service provided on Feb.19 Company paid cash for purchasing supplies on credit on Feb. 5 Jun Li withdraw cash for personal use Porarat withdraw cash for personal use Mar. 3 3,000 Mar. 5 30,000 Mar. 10 10,000 Mar. 12 30,000 Mar. 17 6,400 Mar. 19 14,000 Additional items for March 31, 2021 adjusted entries (a) (b) (c) (d) (e) Expired insurance coverage Office supllied on hand at the end of march Computer equipment - depreciation expense for two month Unpaid salaries since 1 March Office equipment - depreciation expense for two month 2,000 10,000 9,000 30,000 6,100
Transcribed Image Text:The Puchita CO. Transactions Date Accounting Transaction Thai Baht Jan. 27 Pakanan invested cash in company 1,250,000 Jan. 27 Porrarat invested cash in company 1,300,000 Jan. 27 Jun Li invested computer equipment in company 450,000 Feb. 1 Company puchased annual insurance premium Company purchased office equipment on credit Company paid for two month's rent Company purchased office supplies on credit Company paid cash for February cleaning services Company purchased electrical equipment total price as 60,000 Baht, but on 12,000 Feb. 2 610,000 Feb. 3 12,000 Feb. 5 30,000 Feb. 10 2,500 Feb. 12 60,000 this date company paid cash to the seller only 40000 Baht Company completed services and received cash 40,000 Feb. 17 14,000 Company provided services to Jinnipa on credit Company paid cash for purchasing office equipment on credit on Jan. 29 Company completed services to Pongsiri and she will paid in next 30 days Feb. 19 10,000 Feb. 24 61,000 Feb. 26 12,000 Company collected cash for work completed from Rawin Company paid for employees's salary (since Jan. 27 until Feb. 28) Company received cash from Jinnipa for service provided on Feb.19 Company paid cash for purchasing supplies on credit on Feb. 5 Jun Li withdraw cash for personal use Porarat withdraw cash for personal use Mar. 3 3,000 Mar. 5 30,000 Mar. 10 10,000 Mar. 12 30,000 Mar. 17 6,400 Mar. 19 14,000 Additional items for March 31, 2021 adjusted entries (a) (b) (c) (d) (e) Expired insurance coverage Office supllied on hand at the end of march Computer equipment - depreciation expense for two month Unpaid salaries since 1 March Office equipment - depreciation expense for two month 2,000 10,000 9,000 30,000 6,100
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