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Hi, Good Morning. Please find the below accounting cycle question's: Please provide (Answer for 4,5,6) Assessments, that's enough. ASSIGNMENT 1 Following are some transactions, please
Hi, Good Morning. Please find the below accounting cycle question's:
Please provide (Answer for 4,5,6) Assessments, that's enough.
ASSIGNMENT 1 Following are some transactions, please provide solution for these transaction in form of accounting equation. 1 ABC Company issued Stock and raised capital worth $ 250,000 at Par. 2. Paid rent for month $ 2,000. 3. Paid for insurance for a year $ 12,000. 4. Purchased inventory of $ 21 ,800 on account. 5. Sold all inventory for $ 35,700, customer has promised to pay within a month. 6. Issued 12 year, 7% bonds worth $ 45,000 at par. 7. Customer paid for the dues. 8. Paid for inventory. 9. Paid salaries to employees $ 36,000. Paid utility expenses $ 7,950 10. Purchase equipment in cash $ 22,220. 11 Declared dividends of S 25.500. 12.
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