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Hi please help I am taking a test now. Need answers asap. Please write out the t-accounts on one answer sheet & the balance sheet
Hi please help I am taking a test now. Need answers asap. Please write out the t-accounts on one answer sheet & the balance sheet on another answer sheet. Thank you so much please hurry! Event Events /Description of Business Transactions On January 1, 2016 you started a company (Diamond Corp) with $50,000 investment from owners On February 2 2016 you signed an office Rent agreement for 1 year and paid $12,000 in cash 3 You also purchased Office equipment for $10,000; and office supplies for $2000 on Account. 4 On March 1st you purchased inventory for $50,000 and $10,000 cash and $40,000 by Credit Au On April 1st, your sister joined you as owner by making a $50,000 investment in your company 6 You purchased land for future office building and paid $20,000 in cash 6(a) on April 15, Diamond sold Inventory and earned $100,000; $50,000 in cash and the balance on Account 6(b) The total cost of the inventory sold was $30,000 Atun Rai 7 on May 1st A Diamond purchased a Car for $35,000 and took a ear Loan from a bank 7 on May 15th, ABC purchased inventory for a total of $30,000 and it paid with its credit card on May 19th 9your birthday Your mother sent you a check for $100,000 to congratulate you and your sister 8 about the new company On May 19, your brother send you an urgent email wanting to invest$50,000 to join you & your sister as Owner 10 On May 20 Diamond paid $20,000 of Accounts Payable 11 on May 29th, Diamond paid $15,000 in Salary & wages Gmi 12 ABC paid $5,000 cash for Advertising Expenses CA 13 ABC paid $9,000 of its Accounts Payable 14 Diamond incurred Total operating expenses of $20,000 15 Diamond paid Dividends of $5,000 to its Owners PLEASE BALANCE ALL YOUR ACCOUNTS AS OF JUNE TH 2016 AND PREPARE YOUR FINANCIAL STATEMENTS ON TH FORMS PROVIFERD. (Please Record all your T-Account Entries and Balance them carefully so you can do you statem
Hi please help I am taking a test now. Need answers asap. Please write out the t-accounts on one answer sheet & the balance sheet on another answer sheet. Thank you so much please hurry!
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