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Bobby opened a consulting firm and completed these transactions during November, 2014 November 1-Invested $4,00,000 cash and office equipment with $ 1,50,000 in a
Bobby opened a consulting firm and completed these transactions during November, 2014 November 1-Invested $4,00,000 cash and office equipment with $ 1,50,000 in a business called Bobbie Consulting. November 3- Purchased land and a small office building. The land was worth $1,50,000 and the building worth $ 3,50,000. The purchase price was paid with $ 2,00,000 cash and a long term note payable for $ 8,00,000 November 5- Purchased office supplies on credit for $ 12,000 November 8-Bobbie transferred title of motor car to the business. The motor car was worth $ 90,000. November 10- Purchased for $ 30,000 additional office equipment on credit. November 13- Paid $ 7,500 salary to the office manager. November 15- Provided services to a client and collected $ 30,000 November 18- Paid $ 4,000 for the month's utilities. November 20- Paid supplier created in transaction November 5. November 23 Purchase new office equipment by paying $ 93,000 cash and trading in old equipment with a recorded cost of $ 7,000 November 25 Completed services of a client for $ 26,000. This amount is to be paid within 30 days. November 28 Received $ 19,000 payment from the client created in transaction November 25. November 30- Bobby withdrew $ 20,000 from the business. 1. Financial Accounting NOTE: Please solve and explain in 7 types A. Accounting Equation/Accounting Table B. Balance Sheet C. Income Statement D. Statement of Cash Flows E. General Journal F. Ledger T-Accounts G. Trial Balance
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