Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A) Make a horizontal accounting model with 10 events???? B)Finish with the Financial Statement????? EVENT LIST 1. Opened bank account, retained earnings at $45,000. 2.

    A) Make a horizontal accounting model with 10 events????

    B)Finish with the Financial Statement?????

    EVENT LIST

    1. 1. Opened bank account, retained earnings at $45,000.

    2. 2. Bought Supplies for $1,150 to help start a business.

    3. 3. Placed $5000 in common stock, future business affairs ahead.

    4. 4. Bought a vehicle with $400 money down, taking a loan of $15,000.

    5. 5. Performed services for customers for $50,000.

    6. 6. Bought Land for $30,000, taking a $10,000 loan.

    7. 7. During the year spent $8,500 on personal affairs.

    8. 8. Paid $750 in interest and principle $6,000 on vehicle.

    9. 9. Paid 1,000 in interest and principle $8,200

    10. 10. Had Credit Card purchases up to $4,700 (expenses) for others that you paid for.

Step by Step Solution

3.48 Rating (148 Votes )

There are 3 Steps involved in it

Step: 1

Answer Explanation Step 1 IAn income statement is a fina... 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

Fundamental financial accounting concepts

Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward

8th edition

978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365

More Books

Students also viewed these Accounting questions

Question

Explain the importance of process selection in system design.

Answered: 1 week ago