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here are jurnol entries thank you Required information E3-20 (Algo) Analyzing, Recording, and Evaluating the Effects of Income Statement Transactions [LO 3-3, LO 3-4, LO
here are jurnol entries thank you
Required information E3-20 (Algo) Analyzing, Recording, and Evaluating the Effects of Income Statement Transactions [LO 3-3, LO 3-4, LO 3-5] [The following information applies to the questions displayed below] MyBnB started a home rental company on January 1. As of November 30, MyBnB reported the following balances. The company does not yet have a balance in Retained Earnings because this is its first year of operations so no net income has been reported in prior years. E3-20 (Algo) Part 4 4. Prepare T-accounts that show the November 30 balances as December 1 beginning balances and then post the journal entries from our answer to requirement 3 to calculate updated December 31 balances. Retained Earnings has a beginning balance of $0. \begin{tabular}{|l|r|r|} \hline \multicolumn{2}{|c|}{ Service Revenue } & \multicolumn{2}{|c|}{ Credit } \\ \hline Beginning Balance & & \\ \hline & & \\ \hline & & \\ \hline Ending Balance & & \\ \hline & 5,600 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|} \hline \multicolumn{2}{|c|}{ Cleaning Expense } \\ \hline Debit & & & \\ \hline & 2,520 & & \\ \hline & & & \\ \hline & & & \\ \hline Endinning Balance & & \\ \hline & 2,520 & & \\ \hline & & \\ \hline \end{tabular} Required information E3-20 (Algo) Analyzing, Recording, and Evaluating the Effects of Income Statement Transactions [LO 3-3, LO 34, LO 35 ] [The foliowing information applies to the questions displayed below] MyEnB started a home rentel company on January 1. As of November 30 , MyBnB reported the following balances. The company does not yet have a balance in Retained Earnings because this is its first year of operations so no net income has been reported in prior years. E3-20 (Algo) Part 4 4. Prepate T-accounts that show the November 30 balances as December 1 beginning balances and then post the journal entries from. your answer to requirement 3 to calculate updated December 31 balances. Reginning balances and then post the journal entrings has a beginning balance of $0. 3. Prepare journal entries for the following December transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. Provided rental services at a price of $840 and collected the full amount in cash. b. Paid $196 cash to a cleaning company for December work. c. Pald $168 cash to MyBnB's part-time employee for December wages. d. Paid $280 cash on account for amounts owed from a prior equipment purchase. e. Obtained repair services in December at a cost of $112, to be paid in January. Required information E3-20 (Algo) Analyzing, Recording, and Evaluating the Effects of Income Statement Transactions [LO 3-3, LO 3-4, LO 3-5] [The following information applies to the questions displayed below] MyBnB started a home rental company on January 1. As of November 30, MyBnB reported the following balances. The company does not yet have a balance in Retained Earnings because this is its first year of operations so no net income has been reported in prior years. E3-20 (Algo) Part 4 4. Prepare T-accounts that show the November 30 balances as December 1 beginning balances and then post the journal entries from our answer to requirement 3 to calculate updated December 31 balances. Retained Earnings has a beginning balance of $0. \begin{tabular}{|l|r|r|} \hline \multicolumn{2}{|c|}{ Service Revenue } & \multicolumn{2}{|c|}{ Credit } \\ \hline Beginning Balance & & \\ \hline & & \\ \hline & & \\ \hline Ending Balance & & \\ \hline & 5,600 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|} \hline \multicolumn{2}{|c|}{ Cleaning Expense } \\ \hline Debit & & & \\ \hline & 2,520 & & \\ \hline & & & \\ \hline & & & \\ \hline Endinning Balance & & \\ \hline & 2,520 & & \\ \hline & & \\ \hline \end{tabular} Required information E3-20 (Algo) Analyzing, Recording, and Evaluating the Effects of Income Statement Transactions [LO 3-3, LO 34, LO 35 ] [The foliowing information applies to the questions displayed below] MyEnB started a home rentel company on January 1. As of November 30 , MyBnB reported the following balances. The company does not yet have a balance in Retained Earnings because this is its first year of operations so no net income has been reported in prior years. E3-20 (Algo) Part 4 4. Prepate T-accounts that show the November 30 balances as December 1 beginning balances and then post the journal entries from. your answer to requirement 3 to calculate updated December 31 balances. Reginning balances and then post the journal entrings has a beginning balance of $0. 3. Prepare journal entries for the following December transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. Provided rental services at a price of $840 and collected the full amount in cash. b. Paid $196 cash to a cleaning company for December work. c. Pald $168 cash to MyBnB's part-time employee for December wages. d. Paid $280 cash on account for amounts owed from a prior equipment purchase. e. Obtained repair services in December at a cost of $112, to be paid in January Step by Step Solution
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