Prepare general journal entries for the folling transations of a new beverage compay called Bestcola. 1....
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Prepare general journal entries for the folling transations of a new beverage compay called Bestcola. 1. Jorge Best, the owner, invested $3,000 cash and $10,000 of equipment in the company. 2. The company purchased office supplies for $800. 3. The company received $5,000 for sales of beverage. 4. The company sold $5,000 beverage to B company on credit. 5. The company received $3.000 for rental revenue. 6. The comapn paid $700 cash for this month's utilities. Financial statements:Prepare the annual income statement from the adjusted trial balance of KFD Company. (20¹) Myd Company Adjusted Trial Balance Cash Accounts receivable. Supplies Prepaid insurance Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned consulting revenue M. Kim, Capital M. Kin. Withdrawals Consulting revenue Rental revenue Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Supplies expenses Utilities expense Totals December 31 Debit $4, 350 $1,800 $8,670 $2,300 $26,000 $200 $375 $1,610 $100 $1,000 $1,050 $230 $47,685 Credit $375 $6, 200 $210 $2,750 $30,000 $7,850 $300 $47,685 Prepare general journal entries for the folling transations of a new beverage compay called Bestcola. 1. Jorge Best, the owner, invested $3,000 cash and $10,000 of equipment in the company. 2. The company purchased office supplies for $800. 3. The company received $5,000 for sales of beverage. 4. The company sold $5,000 beverage to B company on credit. 5. The company received $3.000 for rental revenue. 6. The comapn paid $700 cash for this month's utilities. Financial statements:Prepare the annual income statement from the adjusted trial balance of KFD Company. (20¹) Myd Company Adjusted Trial Balance Cash Accounts receivable. Supplies Prepaid insurance Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned consulting revenue M. Kim, Capital M. Kin. Withdrawals Consulting revenue Rental revenue Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Supplies expenses Utilities expense Totals December 31 Debit $4, 350 $1,800 $8,670 $2,300 $26,000 $200 $375 $1,610 $100 $1,000 $1,050 $230 $47,685 Credit $375 $6, 200 $210 $2,750 $30,000 $7,850 $300 $47,685
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Date Description Folio Debits Credits Cash account Equipment account Capital account Cap... View the full answer
Related Book For
Basic Technical Mathematics
ISBN: 9780137529896
12th Edition
Authors: Allyn J. Washington, Richard Evans
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