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Accounting comprehensive problem 1 for chapter 1-4, Requirements 1-9. I need requirements 7-9. Thank you in advance > Communication Activity 4-1 In 150 words or
Accounting comprehensive problem 1 for chapter 1-4, Requirements 1-9. I need requirements 7-9. Thank you in advance
> Communication Activity 4-1 In 150 words or fewer, explain the rationale for closing the temporary accounts. >Comprehensive Problem 1 for Chapters 1-4 Matthews Delivery Service completed the following transactions during December 2014: Dec. 1 Matthews Delivery Service began operations by receiving $6,000 cash and a truck with a fair value of $20,000 from Robert Matthews. The business issued Matthews shares of common stock in exchange for this contribution. 1 Paid $600 cash for a 6-month insurance policy. The policy begins December 1 4 Paid $300 cash for office supplies. 12 Performed delivery services for a customer and received $800 cash. 15 Completed a large delivery job, billed the customer, $1,500, and received a promise to collect the $1,500 within one week. 18 Paid employee salary, $700. 20 Received $12,000 cash for performing delivery services. 22 Collected $600 in advance for delivery service to be performed later 25 Collected $1,500 cash from customer on account. 27 Purchased fuel for the truck, paying $200 with a company credit card (Credit Accounts Payable) 28 Performed delivery services on account, $900 29 Paid office rent, $600, for the month of December 30 Paid $200 on account. 31 Cash dividends of $2,100 were paid to stockholders at Exl Step by Step Solution
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