Identify set of transactions for the serenity sleep hotel

Assignment Help Finance Basics

Reference no: EM131518867

Question: Identified below are a set of transactions for the SerenitySleep Hotel which commenced business in Wellington, New Zealand on 1 June. June 1 Owner commenced business by depositing $20,000 in a new business bank account.

- 2 Purchased some basic office furniture for $3,000 cash.

- 3 Purchased inventory stock for $900 cash.

- 4 Purchased more inventory stock on credit for $1,400.

- 5 Purchased an office computer for $6,000, paying $1,500 in cash and obtaining a loan for the balance.

- 6 Billed clients $1,000 for use of conference facilities.

- 7 The owner withdrew $800 from the business.

- 8 Banked the first week's cash revenue $1,300. 9 It was determined that $400 of inventory has been used since the commencement of business. 10 Paid $240 for miscellaneous expenses (telephone, electricity, etc.)

Reference no: EM131518867

Questions Cloud

Identify the account balances for the johnson hotel : The Johnson Hotel is located in Perth, Western Australia. Identified below are the account balances for the Johnson Hotel following its commercial activities.

What is the delivery price of the forward contract entered : What is the "delivery" price of the forward contract entered into on 2/15/2015?

Odd dividend policy-how much will you pay for a share today : Maloney, Inc., has an odd dividend policy. how much will you pay for a share today?

What profit margin must the firm achieve : What profit margin must the firm achieve?

Identify set of transactions for the serenity sleep hotel : Identified below are a set of transactions for the SerenitySleep Hotel which commenced business in Wellington, New Zealand on 1 June.

Bad debt losses average approximately : Boyd Inc. has annual credit sale of $1.6 million. Their current Collection Expenses = $35,000 and their bad debt losses average approximately 1.5%.

Comprehensive presentation of your equal rights proposition : Create a 12- to 14-slide comprehensive presentation of your equal rights proposition using the presentation software approved

Describe what is meant by an asset : Describe the difference between a profit and loss statement and a balance sheet.

Assume the company wants to operate at full capacity : Southern Mfg., Inc., is currently operating at only 85 percent of fixed asset capacity. Assume the company wants to operate at full capacity.

User Account

All Pages