Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1 Nunya Business started operations on july 1, 2019 with an initial issuance of common stock. $31,700 2 Nunya business performed services for one month
1 Nunya Business started operations on july 1, 2019 with an initial issuance of common stock. $31,700
2 Nunya business performed services for one month on account. $26000
3. Nunya Business has received 25% of the amount you recorded in Transaction#2 as partial payment of its accounts receivable. 4. Nunxa Business paid 10% of the amount you recorder in Transaction#2 as salary expense. 5. Nunya Business paid 5% of the amount you recorder in Transaction#2 as rent expense. AutoSave OFF HE SU Horizontal Financial Statement Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments X Calibri (Body) AA 11 = = Insert v ab Wrap Text General Do WE AY ov DX Delete v Paste B I U Uv A V $ % ) Ideas .00 .00 0 Sensitivity Merge & Center Conditional Format Formatting as Table Cell Styles Format v Sort & Filter Find & Select L20 fx A B D E F G H 1 J J K L M N o P Q R S T U V 1 Profit & Loss Assets Accounts Receivable Account Name 2 Entry # + Liabilities + Shareholder's Equity Common Retained Liabilities Stock + Earnings 31,700.00 26,000.00 Revenue Cash 31,700.00 Expenses 3 1 = Net Income Cash Flow 26,000.00 FA 4 2 26,000.00 26,000.00 Check TRUE TRUE TRUE TRUE TRUE 5 3 4 6 7 O 5 9 31,700.00 26,000.00 31,700.00 26,000.00 26,000.00 26,000.00 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Horizontal Financial Statement Balance Sheet Income Statement Chart of Accounts + Ready @ - + 125% AutoSave OFF HE SU Horizontal Financial Statement Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments X Calibri (Body) Insert v V v 11 ab Wrap Text General Do WE 47 ov DX Delete v Paste B Ideas I U A V Merge & Center $ % ) .00 00 0 Sensitivity Conditional Format Cell Formatting as Table Styles Format v Sort & Filter Find & Select A1 fx NUNYA BUSINESS A B D E F G G H 1 1 K L M N N O P 0 R S 5 T U V w Y 1 NUNYA BUSINESS 2 Balance Sheet 3 For the Period Ended 12/31/2019 4 5 Cash 6 Accounts Receivable 7 Total Assets 8 9 Liabilities 10 Common Stock 11 Retained Earnings 12 Total Liabilities/Equity 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Horizontal Financial Statement Balance Sheet Income Statement Chart of Accounts + Ready A + 100% AutoSave OFF HE SU Horizontal Financial Statement Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments X Calibri (Body) V Insert v 11 ~ AI = = ab Wrap Text General Do WE 49- o DX Delete v Paste B 1 Uv Ideas A V $ % ) Merge & Center .00 00 0 Conditional Format Cell Formatting as Table Styles Sort & Filter Sensitivity Format Find & Select A10 fx A B D E F G H H 1 1 K L L M N o Q R s T U V W Y 1 2 3 4 5 Revenue NUNYA BUSINESS Income Statement For the Period Ended 12/31/2019 6 7 Salary Expense 8 Rent Expense 9 Telephone Expense 11 Total Expenses 12 13 Net Income 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Horizontal Financial Statement Balance Sheet Income Statement Chart of Accounts + Ready 0 1 + 100% AutoSave OFF HE SU Horizontal Financial Statement Home Insert Draw Page Layout Formulas Data Review View Tell me Share 0 Comments X Calibri (Body) "A V Insert v 11 = = v ab Wrap Text General PA WE AY ov DX Delete v Paste B 1 U A V $ %) Merge & Center Ideas .00 00 0 Conditional Format Cell Formatting as Table Styles Sensitivity Sort & Filter F Format Find & Select A3171 x fx A B D E F F G H 1 1 1 L M N 0 0 R s T U V w Y Z 1 1 Chart of Accounts 2 Revenue 3 Rent Expense 4 Salary Expense 5 6 7 8 9 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Horizontal Financial Statement Balance Sheet Income Statement Chart of Accounts + Ready A + 100%Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started