Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help placing these last for columns together please . On August 31, the balance sheet of Kingbird, Inc showed Cash $10,000, Accounts Receivable

i need help placing these last for columns together please .
image text in transcribed
image text in transcribed
On August 31, the balance sheet of Kingbird, Inc showed Cash $10,000, Accounts Receivable $2,700, Supplies $600, Equipmen $6,000, Accounts Payable $4,600, Common Stock $13,950, and Retained Earnings $750. During September, the following transactions occurred. 1. 2. 3. Paid $3,300 cash for accounts payable due Collected $2,000 of accounts receivable. Purchased additional equipment for $1,150, paying $750 in cash and the balance on account. Recognized revenue of $8,100, of which $2.250 is collected in cash and the balance is due in October. Declared and paid a $450 cash dividend. Paid salaries $2,050, rent for September $1,050, and advertising expense $100. 4. 5. 6. 7. Incurred utilities expense for month on account $250. B Received $14,000 from Capital Bank on a 6-month note payable. Retained Earnings Revenues Expenses Dividends 750.00 $ i i 8.100 8,100

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

Return Jahrgang 2018 Magazin Fur Transformation Und Turnaround

Authors: Stefanie Burgmaier, Hans Haarmeyer, Thorsten Garber

3rd Edition

365825601X, 9783658256012

More Books

Students also viewed these Accounting questions

Question

=+6 Both cats and dogs are to be tested. Should you block? Explain.

Answered: 1 week ago