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General Ledger Problem 4.5 (based on Problem 4.4A) Four transactions for Airline Maintenance and Repair Shop that took place in November 2021 appear below. Nov.
General Ledger Problem 4.5 (based on Problem 4.4A) Four transactions for Airline Maintenance and Repair Shop that took place in November 2021 appear below. Nov. 1 Edith Porras invested $75,000 in cash plus tools with a fair market value of $15,000 to start the business. 2 Purchased equipment for $13,500 and supplies for $1,700 from Airline Equipment Company, Invoice 551; issued Check 100 for $5,500 as a down payment with the balance due in 30 days. Performed services for Worldwide Airlines for $33,200, which paid $15,800 in cash with the balance due in 30 days. Purchased machinery for $8,000 from Craft Machinery, Inc., Invoice 779; issued Check 101 for $1,500 in cash as a down payment with the balance due in 30 days. Show less A 10 20 Requirement General Journal General Ledger Trial Balance Nov. 1 Edith Porras invested $75,000 in cash plus tools with a fair market value of $15,000 to start the business. Nov. 2 Purchased equipment for $13,500 and supplies for $1,700 from Airline Equipment Company, Invoice 551; issued Check 100 for $5,500 as a down payment with the balance due in 30 days. 24% of available points For each transaction, indicate the impact on total assets, total liabilities and total equity. Enter decreases as negative values. If there is no impact, leave the cell blank. The system will calculate the cumulative amounts in the bottom row. Upon completion, compare the totals to the balance sheet. Is your accounting equation in balance? Nov. 10 Performed services for Worldwide Airlines for $33,200, which paid $15,800 in cash with the balance due in 30 Nov. 20 Purchased machinery for $8,000 from Craft Machinery, Inc., Invoice 779; issued Check 101 for $1,500 in cash as a down payment with the balance due in 30 days. Totals Should agree with Balance Sheet Total Assets = $ Income Stmt of Statement Owners Eqty $
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