for my icecream company chills and fruit, Create at least 10 general business transactions and accounts of the company for the year ending in Dec. 31, 2022. Include transactions that involve acquiring assets, liabilities, capital, drawings, revenue, expenses and adjusting entries. the transactions should look like the image below The following transactions occurred at the Daisy King IceCream Company.1. Started business by issuing 10,000 shares of commonstock for $20,000.2. Leased a building for three years at $500 per month andpaid six months' rent in advance.3. Purchased equipment for $5,400, signing a two-year,10% note.4. Purchased $1,800 of supplies on account.5. Recorded cash sales of $800 for the first week.6. Paid weekly salaries, $320.7. Paid for supplies purchased in item (4).8. Recorded depreciation on equipment, $50.Required:Prepare journal entries to record each of the transactionslisted above. (If no entry is required for atransaction/event, select "No journal entry required" inthe first account field.)

A journal entry is a form of accounting entry that is used to report a business transaction in a…

Answered: for my icecream company chills and…

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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for my icecream company chills and fruit, Create at least 10 general business transactions and accounts of the company for the year ending in Dec. 31, 2022. Include transactions that involve acquiring assets, liabilities, capital, drawings, revenue, expenses and adjusting entries.

the transactions should look like the image below

The following transactions occurred at the Daisy King Ice
Cream Company.
1. Started business by issuing 10,000 shares of common
stock for $20,000.
2. Leased a building for three years at $500 per month and
paid six months' rent in advance.
3. Purchased equipment for $5,400, signing a two-year,
10% note.
4. Purchased $1,800 of supplies on account.
5. Recorded cash sales of $800 for the first week.
6. Paid weekly salaries, $320.
7. Paid for supplies purchased in item (4).
8. Recorded depreciation on equipment, $50.
Required:
Prepare journal entries to record each of the transactions
listed above. (If no entry is required for a
transaction/event, select "No journal entry required" in
the first account field.)

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