Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hello this is accounting grade 11. Please make an income statement and a balance sheet by follow the information giving below which is general journal.
Hello this is accounting grade 11. Please make an income statement and a balance sheet by follow the information giving below which is general journal. I know it's a lot to ask for but please help me out!
Date COA # Journal Entry Debit Credit Dec-01 101 Bank $ 200,000.0 301 A. Ferrara capital $ 200,000.0 Dec-01 105 prepaid rent $ 36,000.0 101 bank $ 36,000.0 Dec-01 130 Rental Equipment $ 180,000.0 101 bank $ 70,000.0 250 bank loan $110,000.0 balancing figure Dec-04 107 office supplies $ 1,630.0 201 accounts payable $ 1,630.0 Dec-08 101 bank $ 10,000.0 210 unearned rental fee $ 10,000.0 Dec-12 525 salaries expense $ 3,600.0 101 bank $ 3.600.0 Dec-15 101 bank 103 accounts receivable $ $ 5,000.0 1,100.0 401 rental fees revenue $ 6,100.0 Dec-17 510 maintenance expense $ 340.0 201 accounts payable $ 340.0 Dec-23 101 bank $ 210.0 103 accounts receivable $ 210.0 Dec-26 525 salaries expense $ 3,600.0 101 bank $ 3,600.0 Dec-27 201 accounts payable $ 340.0 101 bank $ 240.0 Dec-28 305 A. Ferrara drawings $ 2,000.0 101 bank $ 2,000.0 Dec-30 530 utilities expense $ 270.0 201 accounts payable $ 270.0 Dec-30 101 bank $ 6,450.0 401 rental fees revenue $ 6,450.0 Dec-31 120 truck $ 55,000.0 101 cash $ 10,000.0 255 truck loan $ 45,000.0 balancing figure
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started