Please complete requirement 2, using two data tables and the journal entries. P2-34A (alt 3)Data TableThe following amounts summarize the financial position of Haas Consulting, Inc. on May 31, 2020.E (Click the icon to view the May 31, 2020, financial position.)E (Click the icon to view the traLiabilitiesShareholders' Equity+AssetsRequirementsAccountsCommonRetainedAccountsAccountsDebitCreditCashReceivable + SuppliesLandPayableSharesEarningsdanBal.1,3001,45011,8007,5003,5003,550II2,100I3D%3DPrintDone%3DRequirement 2. Post the transactions to the T-accounts. Insert in each account its balance as given (example: Cash $1,300).Begin by entering the appropriate beginning balances and posting transactions (a) through (c). Label each balance and transaction. (Leave any unused cells blank. Do not enter "0" beginning balances. Do not posttransactions (d) and beyond until after you have checked your work and then, move to the next step.)Common SharesCashData TableDuring June 2020, the business completed these transactions.Received cash of $9,400 and issued common shares.а.Accounts Payableb.Performed services for a client and received cash of $6,300.Service Revenueс.Paid $4,500 on accounts payable.d.Purchased supplies on account, $600.е.Collected cash from a customer on account, $500.Consulted on the design of a business report, and billed the client for servicesrendered, $2,900,f.Recorded the following business expenses for the month: paid office rent, $1,4003;g.paid advertising, $500.Declared and paid a cash dividend of $2,100.Choose from any list or enter any number in the input fields and then click Check Answer.verh.3 Partsremaining12:43 PM Journal entries:Debit ( $) Credit( $ )Date AccountsA)Cash A/cTo Common shares A/c( Being record of cash received on issue of shares)94009400B) Cash A/c6300To Service revenue A/c6300Being record of cash received)C) Accounts payable A/cTo Cash A/c45004500( Being record of cash paid)D) Supplies A/cTo Accounts payable A/c600600Being record of supplies purchasedCash A/cTo Accounts receivable A/cE)500500( Being record of cash received )F )Accounts receivable A/cTo Service revenue A/c29002900Being record of serice rendered)G) Rent expense A/cAdvertising expense A/cTo Cash A/c14005001900|( Being record of expenses paid)H) Dividends A/cTo Cash A/c( Being record of dividends paid)21002100

Transactions from journal are posted to ledger (T - accounts).

Print Done Requirement 2. Post the transactions to the T-accounts. Insert in each account its balance as given (example: Cash $1,300) Begin by entering the appropriate beginning balances and posting transactions (a) through (c). Label each balance and transaction. (Leave any unused cells blank. Do not enter "0" beginning balances. Do not post transactions (d) and beyond until after you have checked your work and then, move to the next step.) Common Shares Cash Data Table During June 2020, the business completed these transactions. Received cash of $9,400 and issued common shares. a. Performed services for a client and received cash of $6,300. Paid $4,500 on accounts payable. Accounts Payable b. Service Revenue C. d. Purchased supplies on account, $600. e. Collected cash from a customer on account, $500. Consulted on the design of a business report, and billed the client for services rendered, $2,900. f. Recorded the following business expenses for the month: paid office rent, $1,4003; g. paid advertising, $500. Declared and paid a cash dividend of $2,100. Choose from any list or enter any number in the input fields and then click Check Answer, ver h. 3 parts remaining 12:43 PM

Print Done Requirement 2. Post the transactions to the T-accounts. Insert in each account its balance as given (example: Cash $1,300) Begin by entering the appropriate beginning balances and posting transactions (a) through (c). Label each balance and transaction. (Leave any unused cells blank. Do not enter "0" beginning balances. Do not post transactions (d) and beyond until after you have checked your work and then, move to the next step.) Common Shares Cash Data Table During June 2020, the business completed these transactions. Received cash of $9,400 and issued common shares. a. Performed services for a client and received cash of $6,300. Paid $4,500 on accounts payable. Accounts Payable b. Service Revenue C. d. Purchased supplies on account, $600. e. Collected cash from a customer on account, $500. Consulted on the design of a business report, and billed the client for services rendered, $2,900. f. Recorded the following business expenses for the month: paid office rent, $1,4003; g. paid advertising, $500. Declared and paid a cash dividend of $2,100. Choose from any list or enter any number in the input fields and then click Check Answer, ver h. 3 parts remaining 12:43 PM

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 7E

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