Assets Current Assets Cash Accounts Receivable Less: Allow. Dbtful Accts Merchandise Inventory Office Supplies Prepaid Insurance $112,500.00 $83,983.00 $(1,152.00) $54,629.00 $1,337.00 $1,782.00 S253,079.00 Total Current Assets Property and Equipment Land Buildings Less: Accum. Depr. Office Equipment Less: Accum. Depr. Vehicles S70,000.00 $140,000.00 $(28,000.00) $15,570.00 $(11,720.00) $42,100.00 $(16,300.00) S211,650.00 $464,729.00 Less: Accum. Depr. Total Property and Equipment Total Assets Liabilities & Owner's Equity Current Liabilities Accounts Payable Note Payable Mortgage Note Payable (current portion) Total Current Liabilities $30,300.00 $74,500.00 $9,950.00 $114,750.00 Long-Term Liabilities Mortgage Note Payable $90,450.00 $205,200.00 Total Liabilities Stockholder's Equity Common Stock $259,529.00 $464,729.00 Total Liabilities and Owner's Equity

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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Do a JOURNAL ENTRY. Make sure they BALANCE Debit = Credit. Write it on word or excel. Thanks.

please journalise all related transaction which is required for entry

Assets
Current Assets
Cash
Accounts Receivable
Less: Allow. Dbtful Accts
Merchandise Inventory
Office Supplies
Prepaid Insurance
$112,500.00
$83,983.00
$(1,152.00)
$54,629.00
$1,337.00
$1,782.00
S253,079.00
Total Current Assets
Property and Equipment
Land
Buildings
Less: Accum. Depr.
Office Equipment
Less: Accum. Depr.
Vehicles
S70,000.00
$140,000.00
$(28,000.00)
$15,570.00
$(11,720.00)
$42,100.00
$(16,300.00)
S211,650.00
$464,729.00
Less: Accum. Depr.
Total Property and Equipment
Total Assets
Liabilities & Owner's Equity
Current Liabilities
Accounts Payable
Note Payable
Mortgage Note Payable (current
portion)
Total Current Liabilities
$30,300.00
$74,500.00
$9,950.00
$114,750.00
Long-Term Liabilities
Mortgage Note Payable
$90,450.00
$205,200.00
Total Liabilities
Stockholder's Equity
Common Stock
$259,529.00
$464,729.00
Total Liabilities and Owner's Equity
Transcribed Image Text:Assets Current Assets Cash Accounts Receivable Less: Allow. Dbtful Accts Merchandise Inventory Office Supplies Prepaid Insurance $112,500.00 $83,983.00 $(1,152.00) $54,629.00 $1,337.00 $1,782.00 S253,079.00 Total Current Assets Property and Equipment Land Buildings Less: Accum. Depr. Office Equipment Less: Accum. Depr. Vehicles S70,000.00 $140,000.00 $(28,000.00) $15,570.00 $(11,720.00) $42,100.00 $(16,300.00) S211,650.00 $464,729.00 Less: Accum. Depr. Total Property and Equipment Total Assets Liabilities & Owner's Equity Current Liabilities Accounts Payable Note Payable Mortgage Note Payable (current portion) Total Current Liabilities $30,300.00 $74,500.00 $9,950.00 $114,750.00 Long-Term Liabilities Mortgage Note Payable $90,450.00 $205,200.00 Total Liabilities Stockholder's Equity Common Stock $259,529.00 $464,729.00 Total Liabilities and Owner's Equity
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