Required Information [The following information applies to the questions displayed below.] Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30. a. Received $94,000 cash when issuing 9,400 new common shares. b. Purchased land by paying $6,500 cash and signing a note payable for $10,500 due in three years. c. Hired a new aesthetician for a salary of $2,400 a month, starting next month. d. NGS purchased a company car for $32,000 cash (list price of $35,000) to assist in running errands for the business. e. Bought and received $850 in supplies for the spa on credit. f. Paid $210 of the amount owed in (e). g. Nicole sold 100 of her own personal shares to Raea Gooding for $900. 3. Prepare a classified balance sheet at April 30 using the information given in the transactions. Include Retained Earnings with a zer balance.

Required Information [The following information applies to the questions displayed below.] Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30. a. Received $94,000 cash when issuing 9,400 new common shares. b. Purchased land by paying $6,500 cash and signing a note payable for $10,500 due in three years. c. Hired a new aesthetician for a salary of $2,400 a month, starting next month. d. NGS purchased a company car for $32,000 cash (list price of $35,000) to assist in running errands for the business. e. Bought and received $850 in supplies for the spa on credit. f. Paid $210 of the amount owed in (e). g. Nicole sold 100 of her own personal shares to Raea Gooding for $900. 3. Prepare a classified balance sheet at April 30 using the information given in the transactions. Include Retained Earnings with a zer balance.

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Description: Required Information[The following information applies to the questions displayed below.]Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when startinga new business. Here are some transact

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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