Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hi, i need the complete answer for all the requierments please the requirrments are mentioned in first photo. Thanks QU During the first month of

image text in transcribedhi, i need the complete answer for all the requierments please the requirrments are mentioned in first photo. Thanks
image text in transcribed
image text in transcribed
QU During the first month of operations, March 2017, Simmons Windows Inc. completed the following transactions Click the icon to view the transaction data) Requirements 1. Record eachtraction in the jumal. Key each transaction by date. Explanations are not required. 2. Pout the transactions to the accounts, using transaction dates as posting references 1. Prepare the trial balance of Simmons Windows Inc. at March 31, 2017 4. The manager asks you how much in foresources the business as to work with, how much towes, and whether March 2017 was profitable and by how much. Calculate the amounts needed to answer her questions Requirement. Record each transaction in the journal Key each transaction by date. Explanations are not required Record debits first, then credit) Begin by recording the entry for March 2nd. Simmons received $39.000 cash and issued common shares to shareholders Journal Entry Date Accounts De Credit M dat More Info sas -1,20 essh Fulate the Tansa ,000 Deb Mar 2 Simmons received $39,000 cash and issued common shares to shareholders. 3 Purchased supplies, $500, and equipment. $2,600, on account. 4 Performed services, and received cash, $1,350. 7 Paid cash to acquire land for an office site, $25,000. 11 Repaired a window and billed the customer $1.200. 16 Paid for the equipment purchased March 3 on account. 17 Paid the telephone bill, $120. 18 Received partial payment from client on account, $600 22 Paid the water and electricity bills, $300. 29 Received $2,200 cash for installing a new window. 31 Paid employee salary, $1,800. 31 Declared and paid dividends of $1,400. Print Done Click the icon to view the transaction data.) Requirements 1. Record each transaction in the journal. Key each transaction by date. Explanations are not required 2. Post the transactions to the T-accounts, using transaction dates as posting references 3. Prepare the trial balance of Simmons Windows Inc, at March 31, 2017 4. The manager asks you how much in total resources the business has to work with how much it owes, and whether March 2017 was profitable (and by how much). Calculate the amount Requirement 1. Record each transaction in the journal. Key each transaction by date. Explanations are not required. (Record debits first, then credits.)

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

Step: 3

blur-text-image

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

Contemporary Auditing Real Issues And Cases

Authors: Michael Chris Knapp

9th International Edition

1133187900, 978-1133187905

More Books

Students also viewed these Accounting questions