Marisa Toméi is the owner of the organization “Toméi Expert Cooking”. She started her business on April 1st2020. During the month of April, the following transactions occurred : 1) April 1 : The owner invested $5,100 cash in the organization. 2) April 5 : Purchased a computer at “Apple store”, value $1,200. She had to pay (in cash) 10% of the computer value before leaving the store with the computer. 3) April 16 : Rendered cooking services for a client on credit, $850. 4) April 20 : Paid an insurance premium, $600, for the month of April. 5) April 21 : The owner took 325$ from the organization bank account 6) April 23 : Completed cooking work for a client on credit, $11,900. 7) April.24 : Paid 400$ to “Apple store” 8) April 25 : Received from customer 42% (cash) of April 16 amount. 9) April 27 : Paid $700 for the office rental space for April. 10) April 30 : Paid electricity, $2,000 Required ✓ Prepare journal entries and T accounts ✓ Produce Trial balance and Financial statements (3 usual statements) Prepathe closing journal entry
Marisa Toméi is the owner of the organization “Toméi Expert Cooking”. She started her business on April 1st2020. During the month of April, the following transactions occurred : 1) April 1 : The owner invested $5,100 cash in the organization. 2) April 5 : Purchased a computer at “Apple store”, value $1,200. She had to pay (in cash) 10% of the computer value before leaving the store with the computer. 3) April 16 : Rendered cooking services for a client on credit, $850. 4) April 20 : Paid an insurance premium, $600, for the month of April. 5) April 21 : The owner took 325$ from the organization bank account 6) April 23 : Completed cooking work for a client on credit, $11,900. 7) April.24 : Paid 400$ to “Apple store” 8) April 25 : Received from customer 42% (cash) of April 16 amount. 9) April 27 : Paid $700 for the office rental space for April. 10) April 30 : Paid electricity, $2,000 Required ✓ Prepare journal entries and T accounts ✓ Produce Trial balance and Financial statements (3 usual statements) Prepathe closing journal entry
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Marisa Toméi is the owner of the organization “Toméi Expert Cooking”. She started her business on April 1st2020.
During the month of April, the following transactions occurred :
1) April 1 : The owner invested $5,100 cash in the organization.
2) April 5 : Purchased a computer at “Apple store”, value $1,200. She had to pay (in cash) 10% of the computer value before leaving the store with the computer.
3) April 16 : Rendered cooking services for a client on credit, $850.
4) April 20 : Paid an insurance premium, $600, for the month of April.
5) April 21 : The owner took 325$ from the organization bank account
6) April 23 : Completed cooking work for a client on credit, $11,900.
7) April.24 : Paid 400$ to “Apple store”
8) April 25 : Received from customer 42% (cash) of April 16 amount.
9) April 27 : Paid $700 for the office rental space for April.
10) April 30 : Paid electricity, $2,000
Required
✓ Prepare journal entries and T accounts
✓ Produce Trial balance and Financial statements (3 usual statements)
Prepathe closing
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