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A dog training business began on December 1 . The following transactions occurred during its first month. December 1 Receives $ 2 8 , 0
A dog training business began on December The following transactions occurred during its first month.
December Receives $ cash as an owner investment in exchange for common stock.
December Pays $ cash for equipment.
December Pays $ cash insurance premium for a month insurance policy. Coverage began on December
December Pays $ cash for December rent expense.
December Provides allday training services for a large group and immediately collects $ cash.
December Pays $ cash in wages for parttime help.
December Provides training services for $ and rents training equipment for $ The customer is billed $ for these
services.
December Receives $ cash from the customer billed on Dec.
December Purchases $ of supplies on credit from a supplier.
December Receives $ cash in advance of providing a week training service to a customer.
December Pays $ cash as a partial payment toward the accounts payable of Dec.
December Distributed a $ cash dividend to the owner.
Information for monthend adjustments follows:
December One month of the month, $ insurance policy is expired by December This leaves $ not yet expired.
December A physical count of supplies on December shows that only $ of supplies remain of the $ supplies purchased.
December The $ of equipment purchased at the beginning of December has a useful life of years and will be worth nothing
at the end of years months The business uses straightline depreciation to allocate the $ net cost over
months. On December month of depreciation must be recorded.
December The business agreed on December to provide a week training service to a customer for a fixed fee of $ paid in
advance. By December the business has provided of the weeks of services and earned onefourth of the fee. No
revenue is yet recorded.
December On December wages of $ are owed to a parttime employee for work done over the past weeks. Those wages are not
yet paid or recorded.
December The business agreed to provide weeks of training services to a customer for a fee of $ or $ per week. The
customer agrees to pay the full $ at the end of weeks when services are complete. By December weeks of
services have been provided, but the business has not yet billed the customer or recorded the weeks of services
provided.
Use the dropdowns to select the accounts properly included on the balance sheet. The unadjusted, adjusted, or
postclosing balances will appear for each account, based on your selection.
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