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hey this is first year college accounting i have everything down below - thank you so much 002-1 Acceu nting for the Establishment of a

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hey this is first year college accounting i have everything down below - thank you so much

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002-1 Acceu nting for the Establishment of a Business [L01, L02. L03, L04, L05] Nicole has decided that she is going to start her business. Nicole's Getaway Spa {N65}. A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30, 2011 3. Received $78,600 cash when issuing 72860 new shares. b. Purchased some land by paying $1,800 cash and signing a note payable for $8,800 due in 2017. c. Hired a new esthetician for a salary of $350 a monthI starting next month. 0'. Bought $1.000 in soaps and aromatherapy supplies for the spa on credit. e. NGS purchased a company car for $17,850 cash (list price of $27,000) to assist in running errands for the business. if Nicole sold 100 of her own personal shares to Raea Gooding for $900. 9. Paid $290 of the amount owed in d. Required: the first account field.) 1. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in View transaction list Journal entry worksheet 2 3 4 5 6 7 > Received $78,600 cash when issuing 7,860 new shares. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general Journal2. Assuming that the beginning balances in each of the accounts are zero, complete T-accounts to summarize the transactions a-g. Cash Soaps and Aromatherapy Supplies Beg. bal. Beg. bal. End. bal. End. bal. Beg. bal. Beg. bal. End. bal. End. bal. Beg. bal. Beg. bal. End. bal. End. bal. Beg. bal. End. bal. T3. Prepare a classified balance sheet at April 30, 2017, using the information given in the transactions. NICOLE'S GETAWAY SPA Balance Sheet At April 30, 2017 Assets Current assets Total current assets Total assets Liabilities Current liabilities Total current liabilities Total liabilities Shareholders' equity Total shareholders' equity Total liabilities and shareholders' equity 4. Calculate the current ratio at April 30, 2017. (Round your answer to 1 decimal place.) Current ratio

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