ACCOUTING PRIN SET LL INCLUSIVE
14th Edition
ISBN: 9781119815327
Author: Weygandt
Publisher: WILEY
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Natalie opened Natalie Washing co. on July 1, 2022. During July, the following transactions were
completed.
July 1 Owner invests $12,000 cash to start the business.
July 3 Purchased used truck for $8,000, paying $2,000 cash and signing a 1-year, 10% note for the
remainder.
July 5 Purchased clening supplies for $900 on account.
July10 Paid $1800 cash on a 1-year insurnace policy effective July 1
July 12 Billed customers $3700 fore cleaning services performed.
July 15 Paid $500 on amount owed on cleaning supplies.
July 16 Received $2500 for serviced to be performed evenly from July 16 through September 15.
July 22 Paid $2000 for employee salaries.
July 29
July 30
July 31
Collected $1600 cash from customers billed on July 12.
Paid $290 for maintenance of the truck during month.
Owner withdrew $600 from the business for personal expenses.
Requirements:
1) Make a tabular analysis of the transactions on accounting equation. Use the following column
headings: cash, Supplies, accounts…
19 Dec. Borrowed $28,000 from the bank for personal use. The loan carried an interest rate of 6% a year and the first payment was due on 19 January. Williamson signed a note payable to the bank in the name of the business. How would this be journaled, put on an income statment, balance sheet, and cash flow statment for december 31st?
john began an Upholstery cleaning business on October 1,2020 and engaged in the
following transactions during the month:
Began business by depositing 12,000 in a Clean & Premium ltd bank
oct 1 : account
oct 2 :Ordered Cleaning supplies 3,000
oct 3: Purchased cleaning equipment for 2,800.
oct 4 : Made two months' van lease payment in advance, 1,200
Received the cleaning supplies ordered on (Oct 2)
oct 7: and agreed to pay half the amount in 10 days, and the rest in 30 days
oct 9: Paid for repairs on the van with cash, 1,080
oct 12 : Received cash for cleaning upholstery, 960.
oct 17: Paid half the amount owed on supplies purchased on Oct 7, 1,500.
oct 21 : Billed customers for cleaning upholstery, 1,340
oct 24 :Paid cash for additional repairs on the van, RM80
oct 27 : Received 600 from the customers billed on October 21.
oct 31 Made a cash withdrawal of 700.
you are Required to
A : Prepare the general journal based on the above transactions.
B:…
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