Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with the journal entry, General Ledger, trial balance, imcome statement, Statement of Shareholders Equity, Balance sheet, and post closing trial balance. Lb

image text in transcribed
image text in transcribed
I need help with the journal entry, General Ledger, trial balance, imcome statement, Statement of Shareholders Equity, Balance sheet, and post closing trial balance.
Lb Paste 11 HE B $ % Cell Styl 10 M D A N Date Description of the Activity Sept. 1 Began business by making a deposit in a company bank account of $70,000, in exchange for 7,000 shares of $10 par value common stock Sept. Sept. 3 Sent a check for $6,600 for an annual Insurance premium which takes effect immediately Purchased grooming equipment for $45,000, $37,500 was paid immediately with cash, and the remaining $7,500 was billed with payment due in 30 days. Purchased supplies for $300 cash. 7 8 9 10 Sept. 5 11 12 13 Received payment of S4,800 from four clients who enrolled in a grooming training program that Sept.7 will take place from Sept. 15th through October 26th. The program cost is $2,400 for 6 weeks The balance is expected to be paid wihtin 30 days. Sept. 10 Billed a client $1800 for dog daycare service provided. Terms are 2/10, 1/30 Sept. 14 Cilent from the 10th paid the invoice in full 15 16 Sept. 15 Received cash for 2 more enrollment in the grooming training program that began today Enrollees paid in full for the 6 week training program that costs $2,400 beginning today 17 18 19 20 21 22 Sept. 19 Paid employee salaries of $4,200 Sept. 20 Distributed $200 in dividends to stockholders Sept. 25 Received several cash payments for dog daycare services provided, total of all services was 56750 23 24 Sept. 31 Paid $2,000 toward the outstanding liability recorded on Sept. 3rd. 25 26 22 COA Trans Journal GL Assets GL Lab Equity GL Rov Exp Trial Balance IS&SEquil Ready MacBook Pro esc LD B H I U . ! $ % A 1 POSTADISTINO INTRIES ALLOW POST CLOSING ENTRIES BELOW COA Trans Journal GL Assets GL Lab Equity GLR Ready 11

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_2

Step: 3

blur-text-image_3

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

Accounting An Essential Guide To Learning Accounting Quickly

Authors: Greg Shields

1st Edition

1978341873, 978-1978341876

More Books

Students also viewed these Accounting questions

Question

What is the use of bootstrap program?

Answered: 1 week ago

Question

What is a process and process table?

Answered: 1 week ago

Question

What is Industrial Economics and Theory of Firm?

Answered: 1 week ago

Question

What is the history of this situation?

Answered: 1 week ago