Assume that MoviesDoorToDoor.com began on January 1, 2017. All transactions reflected in Parts A and B occur during the first quarter of operations.

Part A (Pictures 1 and 2)

Record the journal entries for each transaction.

Record each transaction in T-accounts.

Part B (Picture 3)

Record the adjusting journal entries for each transaction

Record each transaction in the T-accounts started in Part A

Prepare an adjusting balance sheet, income statement and statement of retained earnings of March 31, 2017 (and for the quarter then ended)

GB 212 Transaction Analysis for MaviesDoor tolheer.com Part A Assume that MoviesDoorToDoor.coem began om Jamuary 1. 2017, All transactios reflectol in Parts A and B occur during the first quarter of operations Required: a) record the journal entries for cach transaction b) record each transaction in T-accounts A. This will You do not need to do an unadjusted set of final statements for Part be done after the adjusting joumal entries in Part B 1. Courtney, Brad, John, and John's mother contribubed a total of $60,000 cash is exchange for ownership interest in their new company (Afovles). The company, which rents movie videos and DVDs, will be organized On February 1,2017, the company received $18,000 from Courtney's parents as a loan. The company must repay this money at the end of 5 years. Each year Movles must pay Courtney's parents interest on the loan at an annual rate of 8% Courtney, Brad and John spent a significant amount of cash on various assets that were needed hy the business. In total, $23,000 was spent to acquire computer equipment (S20,000) and office supplies ($3,000). 3. r, more assets were purchased. These included As the opening date came closer inventories of tapes and DVDs ($12,000), additional computer equipment (56,000) and office equipment such as cash registers, shelving and display cases ($4,000). All of these purchases were made on account. 4. 5. Another shipment of tapes and DVDs was purchased for $5,000 from another vendor. Movies paid $2,000 in cash for this purchase and put the rest on account. One laptop computer purchased in transaction #3 for $2.000 was found to be unsuitable for the needs of the business. The company sold that computer to an acquaintance of John's for $2,000. 6. 7. Movies paid 310,000 of its accounts payable