Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Create chart of accounts, journal entries, T-accounts for assets, liabilities, equity, and expenses. As well as, a trial balance, adjusting entries, an income statement and

Create chart of accounts, journal entries, T-accounts for assets, liabilities, equity, and expenses. As well as, a trial balance, adjusting entries, an income statement and a balance sheet.

image

OCT: NOV: DEC: ACCOUNTING PROJECT JOURNAL ENTRIES 10/1 - $1,500 rent check cut & mailed to landlord for office 10/3 - $213 Office supplies ordered online using Office Depot credit account 10/5 - $5,000 payment received from client/customer for services provided in Oct 10/7 - $2,050 payroll direct deposited to employees 10/15 - $10,000 payment received from client/customer for services provided in Oct 10/22 - $2,050 payroll direct deposited to employees 11/2 - $1,500 rent check cut & mailed to landlord for office 11/4-$6,000 services rendered to client/customer but not yet paid 11/7-$2,050 payroll direct deposited to employees 11/13 - $45,000 small biz loan obtained (5% APR, 2 years int only, 365 basis) 11/22 - $2,050 payroll direct deposited to employees 11/30-$3,013 annual business insurance renewed (policy covers Dec-Nov)* 12/1 - $1,500 rent check cut & mailed to landlord for office 12/7 - $2,050 payroll direct deposited to employees 12/13 - $ interest payment directly debited from bank account for SBL 12/18 - $9,744 cash spent on company holiday party 12/22 - $7,050 payroll direct deposited to employees 12/28 - $5,000 payment received from client/customer for November services

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Answer Chart of Accounts Assets 1 Cash 2 Accounts Receivable 3 Office Supplies 4 Prepaid Rent 5 Smal... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Practical Approach

Authors: Jeffrey Slater, Brian Zwicker

11th Canadian Edition

132564440, 978-0132564441

More Books

Students also viewed these Accounting questions