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I need help with the bottom part. I got the accounts correct, I just don't know how to find the numbers for them. I know
I need help with the bottom part. I got the accounts correct, I just don't know how to find the numbers for them. I know the trial balance is used for the bottom part though. Thanks for the help!
Comprehensive Accounting Cycle Review 11-2 (Part Level Submission) Karen Noonan opened Shamrock Inc. on February 1, 2017. During February, the following transactions were completed Issued 4,000 shares of Shamrock common stock for $13,260. Each share has a $1.50 par Feb. 1 1 Borrowed $6,000 on a 2-year, 6% note payable Paid $9,200 to purchase used floor and window cleaning equipment from a company going out of business ($4,540 was for the floor equipment and $4,660 for the window equipment) 1 Paid $220 for February Internet and phone services. 3 Purchased cleaning supplies for $1,000 on account. 4 Hired 4 employees. Each will be paid $490 per 5-day work week (Monday- Friday). Employees will begin working Monday, February 9 5 Obtained isurance coverage for $8,640 per year. Coverage runs from February 1, 2017, through January 31, 2018. Karen paid $2,160 cash for the first quarter of c Discussions with the insurance agent indicated that providing outside window cleaning services would cost too much to insure. Karen sold the window cleaning equipment for $4,030 cash. Billed customers $3,980 for cleaning services performed through February 13, 2017 Received $540 from a customer for 4 weeks of cleaning services to begin February 21, 2017 Paid $310 on amount owed on cleaning supplies. Paid $3 per share to buy 300 shares of Shamrock common stock from a shareholder who disagreed with management goals. The shares will be held as 5 16 17 18 20 treasury shares. 23 Billed customers $4,390 for cleaning services performed through February 20 24 Paid cash for employees' wages for 2 weeks (February 9-13 and 16-20) 25 Collected $2,550 cash from customers billed on February 16. 27 28 2 Paid $220 for Internet and phone services for March. Declared and paid a cash dividend of $0.25 per shareStep by Step Solution
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