Additional Information:1.Annual payments of $3,000 are required on the note.Required:1.Journalize and post the Apr transactions. Susie's Commerical Cleaning records all prepaid expensesand unearned revenues as assets and liabilitiesPrepare an unadjusted trial balance at April 30, 2021.Journalize and post the following adjustmentsEarned and unbilled fees at Apr 30, 2021 were $1,500.The truck has an estimated useful life of four years and no residual value.The insurance policy is effective Apr 1, 2021 and expires on March 31, 2022d. An inventory count shows $375 of cleaning supplies on hand at Apr 30, 2021.At Apr 30. 2021, $1,000 of the fees collected in advance have been earned.Accrued but unpaid employee salaries were $400.The note payable has a 6% annual interest rate.Prepare an adjusted trial balance at Apr 30, 2021.Prepare in good form an Income Statement, Statement of Owner's Equity and a Classified Balance Sheetfor the month ended Apr 30, 2021.Journalize and post the closing entries.Prepare a post closing trial balance at Apr 30, 2021.Susie's Commerial Clearning has chosen to prepare reversing entries. Prepare necessary reversing entries in May 2021.They do not need to be posted.2.3.а.b.С.е.f.g.4.5.6.7.8. Susie Smith opened Susie's Commerical Clearning on April 1, 2021. In Apr, the following transactions were completed.Apr-01 Invested $14,000 cash in the business1 Purchased a used truck for $26,400, paying $6,400 cash and signing a note payable for the balance1 Collected $3,000 from XYZ for their cleaning needs for Apr, May and June.3 Purchased cleaning supplies on account for $8505 Paid $1,800 on a one-year insurance policy, effective Apr 112 Billed customers $3,800 for cleaning services18 Paid $400 of amount owed on cleaning supplies20 Paid $1,600 for employee's salaries21 Collected $1,400 from customers billed on Apr 1225 Billed customers for $3,000 for cleaning services30 Paid gas and oil for the month on the truck $35030 Withdrew $1,600 to pay personal property taxes

Name: Additional Information:1.Annual payments of $3,000 are required on th
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Description: Additional Information:1.Annual payments of $3,000 are required on the note.Required:1.Journalize and post the Apr transactions. Susie's Commerical Cleaning records all prepaid expensesand unearned revenues as assets and liabilitiesPrepare an unadju

Business

Accounting

Susie Smith opened Susie's Commerical Clearning on April 1, 2021. In Apr, the following transactions were completed. Apr-01 Invested $14,000 cash in the business 1 Purchased a used truck for $26,400, paying $6,400 cash and signing a note payable for the balance 1 Collected $3,000 from XYZ for their cleaning needs for Apr, May and June. 3 Purchased cleaning supplies on account for $850 5 Paid $1,800 on a one-year insurance policy, effective Apr 1 12 Billed customers $3,800 for cleaning services 18 Paid $400 of amount owed on cleaning supplies 20 Paid $1,600 for employee's salaries 21 Collected $1,400 from customers billed on Apr 12 25 Billed customers for $3,000 for cleaning services 30 Paid gas and oil for the month on the truck $350 30 Withdrew $1,600 to pay personal property taxes

Susie Smith opened Susie's Commerical Clearning on April 1, 2021. In Apr, the following transactions were completed. Apr-01 Invested $14,000 cash in the business 1 Purchased a used truck for $26,400, paying $6,400 cash and signing a note payable for the balance 1 Collected $3,000 from XYZ for their cleaning needs for Apr, May and June. 3 Purchased cleaning supplies on account for $850 5 Paid $1,800 on a one-year insurance policy, effective Apr 1 12 Billed customers $3,800 for cleaning services 18 Paid $400 of amount owed on cleaning supplies 20 Paid $1,600 for employee's salaries 21 Collected $1,400 from customers billed on Apr 12 25 Billed customers for $3,000 for cleaning services 30 Paid gas and oil for the month on the truck $350 30 Withdrew $1,600 to pay personal property taxes

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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Create a journal entries for this transactions 1. December 8, 2019 - He paid accounts payable for supplies purchased worth P7,200 2. December 28, 2019 - He billed clients P48, 000 for services on account Don't mind the pic below
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Kendell Cooper Optical Dispensary completed the following transactions during the latter part of March: Mar. 15 Purchased office supplies on account, $3,600 Mar. 28 Paid $1,100 on account. Read the requirements. Mar. 15: Purchased office supplies on account, $3,600. Date Accounts and Explanation Mar. 15 Mar. 28: Paid $1,100 on account. Date Mar. 28 Bal. 18,000 Accounts and Explanation Office Supplies Debit Debit Credit Credit Requirements 1. Journalize the transactions of Kendell Cooper Optical Dispensary. Include an explanation with each journal entry. 2. The following T-accounts have been opened for you: Cash (Beginning Balance of $18,000), Office Supplies, and Accounts Payable. Post the journal entries from Requirement 1 to the accounts, and compute the balance in each account. Print Requirement 2. The following T-accounts have been opened for you: Cash (Beginning Balance of $18,000), Office Supplies, and Accounts Payable. Post the journal entries from Requirement 1 to the accounts,…
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Question Hyun Bin opened his computer repair services shop on November 30, 2018. The followingtransactions happened during the operations of the business since the opening of the shop. Thebusiness uses a calendar accounting period.Dec 1 Hyun Bin deposited P500,000 to the account of the business as initial investmentDec 2 Purchased various computer repair equipment for P250,000, with down payment of P150,000 and the balance to be paid on terms.Dec 3 Bought office supplies for 25,000. Expense method is used.Dec 5 Billed various customers for services rendered, P80,000.Dec 8 Paid rent for three months at P15,000 per month. Asset method is used.Dec 10 Paid taxes and licenses, P8,000.Dec 14 Received partial payment of billing on December 5, P50,000.Dec 15 Paid half month salary of the staff receiving P36,000 on a monthly basis.Dec 18. Rendered services to various customers: Cash basis P90,000 and Onaccount P70,000.Dec 20 Paid advertising expenses for 6…
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