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how do you do a trial balance sheet, statement of retained earnings, balance sheet and statement of cash flows for this problem? TRANSACTIONS On January
how do you do a trial balance sheet, statement of retained earnings, balance sheet and statement of cash flows for this problem?
TRANSACTIONS
- On January 1, Snazzy Sneakers sold $250,000 worth of Common Stock to its shareholders.
- On January 2, Snazzy paid $2,000 for four months of rent.
- On January 2, Snazzy purchased equipment for $300,000. They paid $200,000 cash and borrowed the remainder on an installment note payable. The note payable is for 10 years at 4% interest. Snazzy will make monthly payments on the loan of $1,012.45.
- On January 3, Snazzy hired four personal trainers and recruiters.
- On January 15th, Snazzy billed Roadrunner Racers $15,000 for training services rendered.
- On January 22nd, Snazzy paid a $500 utility bill and a $400 phone bill.
- On January 27th, Snazzy received $10,000 from Roadrunner Racers for partial payment of its January 15th bill.
- On January 31st, Snazzy accrued its rent expense for January
- On January 31st, Snazzy made its first $1,012.45 payment on its installment note.
- On January 31st, Snazzy recorded $2,500 of depreciation expense on the equipment
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