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I want to see if I did this right. 1 Billy Bob paid cash for 60 bottles of shampoo/conditioner at $10/ each. The bottles of
I want to see if I did this right.
1 Billy Bob paid cash for 60 bottles of shampoo/conditioner at $10/ each. The bottles of shampoo/conditioner are to be held for resale. Billy uses the perpetual method. Billy uses the FIFO method to account for inventory. Purchased supplies on account, $500. Paid cash for the utility bill received last month. Collected cash from customers on account, $350. Paid cash on the amount owed on account, $330. Paid the hair stylist cash of $1,200. Do not forget that a portion of the hair styfist's salaries were recorded as an expense at the end of January. Sold 45 bottles of the shampoo/conditioner at a price of $30/b0ttle receiving cash. Billy Bob paid cash for 50 bottles of shampoo/conditioner at $11/each. The bottles of shampoolconditioner are to be held for resale. 14 Billy Bob sold 30 preloaded haircut cards for $150 leach. Each preloaded card entitles the holder to 10 haircuts Hint Billy receives cash but owas the service of providing haircuts to the cardholders. 15 The barber shop provided haircuts to 295 customers that paid cash and 25 customers that agreed to pay in the future. The price charged for tha haireuts, $20. 24 Sold 41 bottles of the shampoo/conditioner at a price of \$30ibotle receiving cash. 26 Paid the hair stylist cash of $1200 26 Purchased 30 bottles of shampooloonditioner for $12 each on account. The boltles of shampoo/conditionel are to be fieid tor resale 27 Sold 29 bottles of the shampoo conditioner at a price of 520 thottlo receiving cash 28 The barber shop provided harculs fa 278 customors that paid cash gnd 33 customers that agreed to pay in the future The price charged for thie haircuts 920 28 Collected cash from customers or account, 5960 28 Billy paid himself a salary or 83,wod and a dividend of $600 for the month iff February ADJUSTMENT INFORMATION at February 28 th 2022 1. Record one month (for February) of deprecation on the fixed assets. 2. The hair stylist had worked tor 2 days 7$3100 per day but wil nol be paid until next month. 3. An inventory count of supplies revealed that $278 remains in supplies. 4. Utility bills that have been received but niol paid totaled $386. 5 An inventory count of shampoolconditioner reveals that 22 bottles remain in inventory Any lost inventory is recorded as cust of morchiandise sold 6 Don't forget to record the adjusting entries for the insurance and rent expired in February 7 Billy has provided 42 haircuts in Fobruary for customers with preloaded cards that he sold on February 14th. Hint. A portion of the unearmed fees have been earned 1 Billy Bob paid cash for 60 bottles of shampoo/conditioner at $10/ each. The bottles of shampoo/conditioner are to be held for resale. Billy uses the perpetual method. Billy uses the FIFO method to account for inventory. Purchased supplies on account, $500. Paid cash for the utility bill received last month. Collected cash from customers on account, $350. Paid cash on the amount owed on account, $330. Paid the hair stylist cash of $1,200. Do not forget that a portion of the hair styfist's salaries were recorded as an expense at the end of January. Sold 45 bottles of the shampoo/conditioner at a price of $30/b0ttle receiving cash. Billy Bob paid cash for 50 bottles of shampoo/conditioner at $11/each. The bottles of shampoolconditioner are to be held for resale. 14 Billy Bob sold 30 preloaded haircut cards for $150 leach. Each preloaded card entitles the holder to 10 haircuts Hint Billy receives cash but owas the service of providing haircuts to the cardholders. 15 The barber shop provided haircuts to 295 customers that paid cash and 25 customers that agreed to pay in the future. The price charged for tha haireuts, $20. 24 Sold 41 bottles of the shampoo/conditioner at a price of \$30ibotle receiving cash. 26 Paid the hair stylist cash of $1200 26 Purchased 30 bottles of shampooloonditioner for $12 each on account. The boltles of shampoo/conditionel are to be fieid tor resale 27 Sold 29 bottles of the shampoo conditioner at a price of 520 thottlo receiving cash 28 The barber shop provided harculs fa 278 customors that paid cash gnd 33 customers that agreed to pay in the future The price charged for thie haircuts 920 28 Collected cash from customers or account, 5960 28 Billy paid himself a salary or 83,wod and a dividend of $600 for the month iff February ADJUSTMENT INFORMATION at February 28 th 2022 1. Record one month (for February) of deprecation on the fixed assets. 2. The hair stylist had worked tor 2 days 7$3100 per day but wil nol be paid until next month. 3. An inventory count of supplies revealed that $278 remains in supplies. 4. Utility bills that have been received but niol paid totaled $386. 5 An inventory count of shampoolconditioner reveals that 22 bottles remain in inventory Any lost inventory is recorded as cust of morchiandise sold 6 Don't forget to record the adjusting entries for the insurance and rent expired in February 7 Billy has provided 42 haircuts in Fobruary for customers with preloaded cards that he sold on February 14th. Hint. A portion of the unearmed fees have been earnedStep by Step Solution
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