Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

DelaWare incurred the following transcations during July 2011, its first month of operations: July 1 The owner, Sue Ware, invested 5,000 $ Cash 10 Purchased

DelaWare incurred the following transcations during July 2011, its first month of operations: July 1 The owner, Sue Ware, invested 5,000 $ Cash 10 Purchased 2,500$ worth of equipment on credit 12 Performed services for a client and recieved 10,000$ cash 14 Paid for expenses 3,500$ 15 Completed services for a client and sent a bill for 1,500$ 31 The owner withdrew 250$ cash for personal use 1) Create a General Ledger by setting up the following accounts: Cash, 101; Accounts receivable ,106; Equpiment , 150; Accounts payble , 201; Sue Ware, Capital, 301; Sue Ware, Withdrawls, 302; Revenue, 401; Expenses, 501 2)Journalize the july transcations in the General Journal 3) Post he July transcations from your General Journal into your General Ledger accounts 4) Prepare a trial balance on the balances in your General Ledger accounts 5) Prepare an income statment, statment of changes in equity, and balance sheet based on your trial Balance? Please Help me, I was sick for a week and my friend told me an assigment is due for tomrow. Please help me as much as you can. Thanks you so much

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

Custom Edition For University Of Central Florida From Managerial Accounting

Authors: Karen Wilken Braun, Wendy Tietz

3rd Edition

1269451839, 978-1269451833

More Books

Students also viewed these Accounting questions