Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

credit - 50 000$ owner's personal fundings 10 000$ owner equity withdrawal (personal use) 1 000$ rent 500$ storage (inventory) 200$ depreciation 50$ electricity 100$

credit - 50 000$
owner's personal fundings 10 000$
owner equity withdrawal (personal use) 1 000$
rent 500$
storage (inventory) 200$
depreciation 50$
electricity 100$
water 100$
additional expenses 200$
wages 4000$
coupons (promotions) 1000$
advertising 5000$
extra money for the emplyees (stimulations)
LLC establisment
accounting expenses
leva to usd transactions (money loss)
equipment
employee training costs
delivery of the product (logistics)
national or regional restrictions (money loss)
order of packaging materials
software expenses
necessary tools
paid vacation additional expenses
money paid for the right to produce
paying off credit
company insurance
cash sales
credit sales
consumables
workers' insurance
taxes paid

The task is to come up with 40 different transactions of imaginary firm, I already did that. On the base of the transactions to create a table of T-accounts. Thats the task

Using of the transactions, present the T-accounts. You can imagine the cost of the transactions. You can use the image I attached as an example.

I have opened the question from the laptop and it is absolutely readable

image text in transcribed

image text in transcribed

Cash Debit Credit $10,000 $7,000 $5,200 $3,500 $1,200 $500 $800 $200 $2,000 $3,200 $10,800 $11,400 T-accounts Equity Revenue Trade receivables Inventories Equipment Rent expenses Fuel & energy General expenses Equity Trade payables Balance c/d Total Balance b/d Cash Cash Balance c/d Total Balance b/d Cash Trade payables COGS COGS Balance c/d Total Balance b/d $22,200 $10,800 Equity $10,000 $2,000 $8,000 $10,000 $10,000 $8,000 Inventories $3,500 $4,000 $2,700 $3,000 $1,800 $7,500 $7,500 $1,800 BUS220 AUBG S2020 Equipment Expenses Revenue T-accounts Trade payables Debit Credit $1,200 $1,200 $1,200 $1,200 $1,200 $500 $800 $200 $1,500 $7,000 $7,800 $14,800 $4,000 $3,200 $800 $4,000 $4,000 $800 $7,800 $5,200 $2,600 $7,800 $7,800 $2,600 $2,700 $3,000 $5,700 Cash Balance c/d Total Balance b/d Cash Cash Cash Income statement Cash Trade receivables Total Inventories Cash Balance c/d Total Balance b/d Revenue Cash Balance c/d Total Balance b/d Inventories Inventories Income statement Trade receivables COGS US220 AUBG 52020 Cash Debit Credit $10,000 $7,000 $5,200 $3,500 $1,200 $500 $800 $200 $2,000 $3,200 $10,800 $11,400 T-accounts Equity Revenue Trade receivables Inventories Equipment Rent expenses Fuel & energy General expenses Equity Trade payables Balance c/d Total Balance b/d Cash Cash Balance c/d Total Balance b/d Cash Trade payables COGS COGS Balance c/d Total Balance b/d $22,200 $10,800 Equity $10,000 $2,000 $8,000 $10,000 $10,000 $8,000 Inventories $3,500 $4,000 $2,700 $3,000 $1,800 $7,500 $7,500 $1,800 BUS220 AUBG S2020 Equipment Expenses Revenue T-accounts Trade payables Debit Credit $1,200 $1,200 $1,200 $1,200 $1,200 $500 $800 $200 $1,500 $7,000 $7,800 $14,800 $4,000 $3,200 $800 $4,000 $4,000 $800 $7,800 $5,200 $2,600 $7,800 $7,800 $2,600 $2,700 $3,000 $5,700 Cash Balance c/d Total Balance b/d Cash Cash Cash Income statement Cash Trade receivables Total Inventories Cash Balance c/d Total Balance b/d Revenue Cash Balance c/d Total Balance b/d Inventories Inventories Income statement Trade receivables COGS US220 AUBG 52020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Horngrens Accounting, The Managerial Chapters

Authors: Tracie Miller Nobles, Brenda Mattison

13th Edition

0135982138, 9780135982136

More Books

Students also viewed these Accounting questions