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I ONLY NEED HELP DOING THE T ACCOUNTS PLEASE!! You are starting your own business. You have $75,000 of cash that you will invest in
I ONLY NEED HELP DOING THE T ACCOUNTS PLEASE!!
You are starting your own business. You have $75,000 of cash that you will invest in the start-up of this business. You will be the first business in Fort Wayne that only sells "Doohickeys" to the public. Using the below "Chart of Accounts and creating T-Accounts, please record the first month's transactions for your business. For this exercise, your capitalization limit is $3,000 and you use straight line depreciation, 5 years. PLEASE NOTE: Not all accounts may be used Transactions: 1. Record your investment of S75,000 in cash 2. Purchased 1,000 Doohickeys at $3.50 each to sell. payment is due in about two weeks. 3. Purchased a cash register for $5,000. aid cash 4. Purchased a security system for $7,000. Bought it on credit 5. Purchased a 70"TV for display and advertising purposes, $2, 500. paid cash 6. Paid your first month's rent for your store space, $850 7. Your first day of business, you sell 500 Doohickeys at $7.00 each. Half was paid in cash, half was bought on credit 8. Bought $300 worth of office supplies. Bought on credit 9. Paid for my inventory that I purchased in transaction 2Step by Step Solution
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