Reference no: EM132620954
On October 1, 20Y6, Jay Crowley established Affordable Realty, which completed the following transactions during the month:
Oct.
1 Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $29,700.
2 Paid rent on office and equipment for the month, $2,250.
3 Purchased supplies on account, $2,300.
4 Paid creditor on account, $840.
5 Earned sales commissions, receiving cash, $14,500.
6 Paid automobile expenses (including rental charge) for month, $1,630, and miscellaneous expenses, $590.
7 Paid office salaries, $2,000.
8 Determined that the cost of supplies used was $1,350.
9 Paid dividends, $2,300.
Problem 1: How do you Journalize entries for transactions Oct. 1 through 9?
Problem 2: How do you Post the journal entries to the T accounts, selecting the appropriate date to the left of each amount to identify the transactions? and Determine the account balances, after all posting is complete?
Problem 3: How do you make an unadjusted trial balance as of October 31, 20Y6?
Problem 4: What are the following?
a. Amount of total revenue recorded in the ledger?
b. Amount of total expenses recorded in the ledger?
c. Amount of net income for October?
Problem 5: What are the increase or decrease in retained earnings for October?
|
Make an entry in the cash payments journal for reimbursement
: Make an entry in the Cash Payments Journal for the reimbursement of the fund on November 30. Bought special order of merchandise, $13.14.
|
|
What is the expected phenotype ratio
: Your frogs reproduce and produce the following offspring: 102 Blue-eye short-toed, 312 Blue-eye long-toed, 305 Red-eyed short-toed, 905 Red-eye long-toed
|
|
Which is the correct total of susan equity
: On her most recent balance sheet, her liabilities total $4,500 and her assets total $28,500. Which of the following is the correct total of Susan's equity
|
|
Compute net cash provided by operations
: A gain on disposal of equipment of $17,000 was recorded. Compute Net cash provided by operations in 2012 using the indirect method
|
|
How do post the journal entries to the t accounts
: How do Post the journal entries to the T accounts, selecting the appropriate date to the left of each amount to identify the transactions?
|
|
Develop logical cause-and-effect diagram
: Develop a logical cause-and-effect diagram for the problem "inaccurate shipment." Explain how your solutions demonstrate the idea of enterprise leadership.
|
|
How do make an unadjusted trial balance for knaus architects
: How do make an unadjusted trial balance for Knaus Architects as of January 31, 20Y4.???List all accounts in the order of Assets, Liabilities
|
|
What would the company have reported on its balance sheet
: What would the company have reported on its balance sheet for inventory if it had used the FIFO method of accounting for inventory
|
|
Roles of natural selection and mutationstions in evolution
: What are the roles of natural selection and mutationstions in evolution
|