Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Can i have help with the general journal, ledger and statement of retained earnings? Transactions and events during 2021 (summarized in thousands of dollars) follow:
Can i have help with the general journal, ledger and statement of retained earnings?
Transactions and events during 2021 (summarized in thousands of dollars) follow: a. Borrowed $12 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site, paid cash, $9. c. Issued additional shares of common stock on April 3 for $26. d. Purchased software on July 4,$10 cash. e. Purchased supplies on account on October 5 for future use, $18. f Paid accounts payable on November 6,$13. g. Signed a $25 service contract on November 7 to start February 1,2022 h. Recorded revenues of $166 on December 8 , including $43 on credit and $123 collected in cash. i. Recognized salaries and wages expense on December 9.$88 paid in cash. f. Collected accounts recelvable on December 10, $27. Data for adjusting journal entries as of December 31 : k. Unrecorded amortization for the year on software, $8. 1. Supplies counted on December 31, 2021, \$10. m. Depreciation for the year on the equipment, \$6. n. Interest of $1 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $12 p. Income tax for the year was $8. It will be paid in 2022 . (Enter all of your answers in thousands of dollars. (i.e., $100,000 should be entered as $100) ) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started