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can someone help me with this journal entry? ACTG 2200 - Introduction to Financial Reporting Project 1 Journal Accounts Debit Credit Date 1-Jan 1-Jan 100,000
can someone help me with this journal entry?
ACTG 2200 - Introduction to Financial Reporting Project 1 Journal Accounts Debit Credit Date 1-Jan 1-Jan 100,000 1 1 1-Jan 1 21,000 3,000 2,500 80,000 4,380 2-Jan 2 4 7 10 Your Company was incorporated on January 1, 2021. The business provides a full range of landscaping services, including landscape design, construction, and maintenance. The following transactions occurred during the first three months of operations: January Common stock is issued in exchange for cash in the amount of.. The company borrows money from the bank by signing a promissory note in the amount of..... The company pays cash for a one-year insurance policy in the amount of.... Rent on a storage facility for the month is paid in the amount of Landscaping equipment is purchased for cash in the amount of... Supplies are purchased on account in the amount of.. The company pays for advertisements to be run during the current month in the amount of... Services are performed for cash in the amount of 20 Services are performed on account in the amount of 25 A customer pays cash in advance for future services in the amount of 27 Paid cash for half of the balance due for supplies purchased on Jan 7. 30 Gasoline for the lawn mowers for the current month is paid in cash in the amount of 30 From the customer who paid in advance on Jan 25, landscape services in the amount of ......were performed. 31 Dividends were paid in the amount of ...... 4-Jan 15 375 8,300 4,200 1,500 2,190 7-Jan 10-Jan 563 450 15-Jan 200 20-Jan a. 2,628 1,333 b. 27-28 27-Jan Information for Monthly Adjusting Entries Supplies on hand at the end of each month are as follows: January..... Depreciation for each month totals... Employees are paid on the first of the month for salaries earned in the previous month. Accrued salaries at the end of each month are as follows: At January 31.. The principal on the loan is due in 2 years. Interest (at a rate of 10%) is accrued at the end of each month and is payable at the end of each year, beginning December 31, 2021. (ROUND TO THE NEAREST DOLLAR.) Adjustments are made at the end of each month for prepaid insurance. (ROUND TO THE NEAREST DOLLAR.) 5,000 d. 30-Jan 175 250 31-Jan REQUIRED: For the month: 1. Prepare journal entries for each transaction listed above (with descriptions). 2. Post journal entries to the general ledger T accounts. 3. Prepare all necessary adjusting journal entries (with descriptions) and post to the general ledger T accounts. Prepare an adjusted trial balance. 5. Prepare the following financial statements: a. Income Statement b. Statement of Stockholders' Equity Balance Sheet claretianStep by Step Solution
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