Question
Excel Project Can someone check my work? Cash flow is the cash flow activities such as Operating Activities, Financing Activities, and Investing activities. Thanks! 2.
Excel Project
Can someone check my work?
Cash flow is the cash flow activities such as Operating Activities, Financing Activities, and Investing activities. Thanks!
2. Nunya Business performed services for one month on account for $53000.
3. Nunya Business has received 25% of the amount recorded in transaction 2 as partial payment of the accounts receivable.
4. Nunya Business paid 10% of $53,000 as salary expense
5. Nunya Business paid 5% of $53,000 as rent expense
6. Nunya Business paid a $530 cell phone bill
7. Nunya Business received a cash prepayment of $10,525 from a second customer
8. Record an adjusting entry to recognize %25 of the prepayment from transaction 7 as revenue
Assets Liabilities Shareholder's Equity Profit & Loss Accounts Common Retained Net Entry # Cash + Receivable-Liabilities+ Stock + Earnings Revenue ExpensesIncome Cash FlowExpense Account 1 63,150 63,150 Revenue Revenue Revenue Salary Expense Rent Expense Other Expenses Revenue - FA N/A 53,000 (13,250) 53,000 53,000 13,250 (5,300) (2,650) (530) 10,525 (5,300) (2,650) (530) 5,300 2,650 530 5,300) OA (2,650) OA (530) 4 10,525 (2,631) 7,894 OA 2,631 78,445 39,750 63,150 47,151 53,000 8,480 (8,480)Step by Step Solution
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