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I need help solving 9-25. everything need is provided including the template. 9- 25. Because CASH is a new organization, the opening balances for all
I need help solving 9-25. everything need is provided including the template.
9- 25. Because CASH is a new organization, the opening balances for all accounts were $o. Record the transactions from Problem 9-24 in a worksheet similar to Exhibit 9-4. 0-26. Use the ending halaneo 24. Shanna Engel started up a new nonproft organization in 2017 named Concern for Animal Shelter and Habitats (CASH). The organization places homeless animals in permanent homes. Transactions during the first month of operations were as follows: Borrowed $50,ooo from a local bank. No interest is due on the loan during the first month, and the principal does 1. not have to be paid back for 2 years. 2. Signed a contract with a local carpen- ter to build a fence to enclose the back- yard. The carpenter charges $250 per hour and expects the fence to take 10 hours to complete. He expects to begin work next month. 3. Bought 50 bags of dog food and 25 bags of cat food. Dog food costs $20 per bag, while cat food costs $30 per bag. The pet food was bought on credit (i.e., CASH has not yet paid for the supplies). 4. Bought a sign to hang in front of its building. The sign cost $5,o00 and CASH paid for it when it was received. 5. Purchased and received an office com puter, server, printer, and copier. The total cost of the equipment was $10,000, half of which was paid and the other half was still owed. Show the impact of these transactions on the fundamental equation of accounting (Optional: Show journal entries using deb- its and credits. See Appendix 9-A.) AutoSave (.Off Week 5 Problems Compatibility Mode Excel File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do 115 1 PROBLEM 9-25 Assets Liabilities Net Assets Tempo- Perma- Accounts Loan Unre rarily nently Payable Payable Stricted restricte restricted Office 10 Cash Supplies Equipment Office Sign Beginning 11 Balance 12 | | Transaction # 1 13 | Transaction # 2 ransaction 3 17 Ending Balance 18 19 20 21 23 24
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