Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Google LLC : Date Description Debit ($) Credit ($) 2023-04-01 Initial Capital 200,000 2023-04-02 Purchased Office Supplies 5,000 2023-04-05 Paid Office Rent 8,000 2023-04-10 Services

Google LLC :

Date

Description

Debit ($)

Credit ($)

2023-04-01

Initial Capital

200,000


2023-04-02

Purchased Office Supplies

5,000


2023-04-05

Paid Office Rent

8,000


2023-04-10

Services Rendered (80% on credit)


50,000

2023-04-15

Received Payment from Customers

30,000


2023-04-18

Paid Salaries

12,000


2023-04-20

Purchased Equipment (paid in cash)

15,000


2023-04-25

Utility Expenses Paid

2,000


2023-04-28

Loan Received

50,000


2023-04-30

Interest on Loan

1,000


Requirements:

  1. Record the journal entries for the transactions of Google LLC.
  2. Post the transactions to the ledger accounts.
  3. Prepare a trial balance as of April 30, 2023.
  4. Prepare the income statement and balance sheet for the month ended April 30, 2023.

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_2

Step: 3

blur-text-image_3

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

Forensic Accounting and Fraud Examination

Authors: Mary Jo Kranacher, Richard Riley, Joseph T. Wells

1st edition

047043774X, 978-0470437742

More Books

Students also viewed these Accounting questions