Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4. Prepare a trial balance at October 31, 2023. 5. Prepare an income statement and a statement of changes in equity for the month ended

image text in transcribed
4. Prepare a trial balance at October 31, 2023. 5. Prepare an income statement and a statement of changes in equity for the month ended October 31,2023 , as well as October 31, 2023. Oct. I Graham invested $90,000 cash, a $36,000 computer system, and $18,000 of office equipment in the business. 2 Paid rent in advance of $9.000. 3 Purchased computer supplies on credit for \$2,640 from Abbott Office Products. 5 Paid $4.320 cash for one year's premium on a property and liability insurance policy. 6 Billed Capital Leasing $6,600 for installing a new computer. 8 Paid for the computer supplies purchased from Abbott Office Products. 10 Hired Carly Smith as a part-time assistant for $200 per day, as needed. 12 Billed Capital Leasing another $2,400 for computer services rendered. 15 Received $6,600 from Capital Leasing on its account. 17 Paid \$1,410 to repair computer equipment damaged when moving into the new office. 20 Paid $3,720 for an advertisement in the local newspaper. 22 Received \$2,400 from Capital Leasing on its account. 28 Billed Decker Company \$6,450 for services. 31 Paid Carly Smith for seven days' work. 31 Withdrew $7,200 cash from the business for personal use. 4. Prepare a trial balance at October 31, 2023. 5. Prepare an income statement and a statement of changes in equity for the month ended October 31,2023 , as well as October 31, 2023. Oct. I Graham invested $90,000 cash, a $36,000 computer system, and $18,000 of office equipment in the business. 2 Paid rent in advance of $9.000. 3 Purchased computer supplies on credit for \$2,640 from Abbott Office Products. 5 Paid $4.320 cash for one year's premium on a property and liability insurance policy. 6 Billed Capital Leasing $6,600 for installing a new computer. 8 Paid for the computer supplies purchased from Abbott Office Products. 10 Hired Carly Smith as a part-time assistant for $200 per day, as needed. 12 Billed Capital Leasing another $2,400 for computer services rendered. 15 Received $6,600 from Capital Leasing on its account. 17 Paid \$1,410 to repair computer equipment damaged when moving into the new office. 20 Paid $3,720 for an advertisement in the local newspaper. 22 Received \$2,400 from Capital Leasing on its account. 28 Billed Decker Company \$6,450 for services. 31 Paid Carly Smith for seven days' work. 31 Withdrew $7,200 cash from the business for personal use

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Measuring ROI In Learning And Development Case Studies From Global Organizations

Authors: Patricia Pulliam Phillips, Jack J. Phillips

1st Edition

1562867997, 9781562867997

More Books

Students also viewed these Accounting questions

Question

Outline Aquinass methodology.

Answered: 1 week ago

Question

Using your experimental results, find the sum of H 1 and H 2 .

Answered: 1 week ago