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I need assistance completing, problems 3-13A, 3-14A, & 3-15A, Please?!?!?! SERIES A PROBLEMS in Ma T ACCOUNTs AND TRIAL BALANCE Wilhelm Kohl started a business
I need assistance completing, problems 3-13A, 3-14A, & 3-15A, Please?!?!?!
SERIES A PROBLEMS in Ma T ACCOUNTs AND TRIAL BALANCE Wilhelm Kohl started a business iant part-time college Kohl has decided to use the following accounts for recording transactions: Owner's Equity Wilhelm Kohl, Capital Assets Cash Wilhelm Kohl, Drawing Accounts Receivable Revenue Office Supplies Service Fees Prepaid Insurance Expenses Equipment Rent Expense Van Wages Expense Liabilities Telephone Expense Accounts Payable Gas and Oil Expense The following transactions occurred during May: (a) Invested cash in the business, $25,000. (b) Purchased a used van for cash, $6,000. (c) Purchased equipment on account, $4,000. (d) Received cash for services rendered, $7,500. (e) Paid cash on account owed from transaction (c), S2,300. (f) Paid rent for the month, S850. (g) Paid telephone bill, S230. (h) Earned revenue on account, S4,500. (i) Purchased office supplies for cash, $160. (i) Paid wages to an assistant, $800. (k) Purchased a one-year insurance policy, $1,100. (1) Received cash from services performed in transaction (h), $3,400. (m) Paid cash for gas and oil expense on the van, $155. (n) Purchased additional equipment for s4,200 paying $1,500 cash and spreading the remaining payments over the next 10 months. (o) Earned service fees for the remainder of the month of $3,500: $1,900 in cas and $1,600 on account. (p) withdrew cash at the end of the month, $2,900 REQUIRED 1. Enter the transactions in T accounts, identifying each transaction with its co sponding 2. Foot and balance the accounts where necessary. 3. Prepare a trial balance as of May 31, 20 Step by Step Solution
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