At the beginning of March, Carla Vista Software Company had Cash of $11,742, Accounts Receivable of...
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At the beginning of March, Carla Vista Software Company had Cash of $11,742, Accounts Receivable of $18,483, Accounts Payable of $4,065, and G. Carla Vista, Capital of $26,160. During the month of March, the following transactions occurred. 1. Purchased equipment for $23,859 from Digital Equipment. Paid $5,459 cash and signed a note payable for the balance. Received $12,366 from customers for contracts billed in February. Paid $3,124 for March rent of office space. Paid $2,437 of the amounts owing to suppliers at the beginning of March. Provided software services to Kwon Construction Company for $7,478 cash. Paid BC Hydro $1,015 for energy used in March. G. Carla Vista withdrew $5,470 cash from the business. Paid Digital Equipment $1,932 on account of the note payable issued for the equipment purchased in transaction 1. Of this, $92 was for interest expense. 2. 3. 4. 5. 6. 7. 8. 9. 10. Hired an employee to start working in April. Incurred advertising expense on account for March, $1.731. Prepare a tabular analysis of the above transactions. The first row contains the amounts the company had at the beginning of March. (If a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parenthesis) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) At the beginning of March, Carla Vista Software Company had Cash of $11,742, Accounts Receivable of $18,483, Accounts Payable of $4,065, and G. Carla Vista, Capital of $26,160. During the month of March, the following transactions occurred. 1. Purchased equipment for $23,859 from Digital Equipment. Paid $5,459 cash and signed a note payable for the balance. Received $12,366 from customers for contracts billed in February. Paid $3,124 for March rent of office space. Paid $2,437 of the amounts owing to suppliers at the beginning of March. Provided software services to Kwon Construction Company for $7,478 cash. Paid BC Hydro $1,015 for energy used in March. G. Carla Vista withdrew $5,470 cash from the business. Paid Digital Equipment $1,932 on account of the note payable issued for the equipment purchased in transaction 1. Of this, $92 was for interest expense. 2. 3. 4. 5. 6. 7. 8. 9. 10. Hired an employee to start working in April. Incurred advertising expense on account for March, $1.731. Prepare a tabular analysis of the above transactions. The first row contains the amounts the company had at the beginning of March. (If a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parenthesis) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
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To prepare the tabular analysis of the transactions well use the following format Accounts Cash Acco... View the full answer
Related Book For
Modern Advanced Accounting In Canada
ISBN: 9781259066481
7th Edition
Authors: Hilton Murray, Herauf Darrell
Posted Date:
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