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It's accounting questions As of November 1, 2017. Mr. Bai decided to open an ice cream shop in Han following transactions: be known as Dairy

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It's accounting questions

As of November 1, 2017. Mr. Bai decided to open an ice cream shop in Han following transactions: be known as Dairy Queen. During November, Diary Or 1. On Nov 1t, Mr. Bai invested RMB 90,000 cash into the business. On Nov2, Dairy Queen paid six months' rent on a shop at Wulin Square for RMB 60,000. Th 2. On Novd Dairy Queen paid six months' rent on a shop at Wul Queen entered into the 3. On Nov St, Dairy Queen bought a casualty insurance for RMB 4,000. The insturance wouid 4. On Nov 6th, Dairy Queen pur chased office equipment on account for RMB 12,000. The equ RMB 60,000. The payment was made in cash. 5. On Nov 1 1', Dairy Queen paid cash for an advertisement published on Hangzhou Daily ver the coming 8 months. The payment was made i 6. On Nov 15h, Dairy Queen sent ice creams to a party hosted at Zhejiang Univer nt could be used for 12 months. 7. On Nov 20, Dairy Queen paid China Bank RMB 5,000for pa for RMB 1,500. 8. On Nov 20th, Dairy Queen bought new supplies for RMB 7,000 in cash. On Noy 21", Dairy Queen received the payment of RMB 10,000 made 000 for part of the debt incurred on rvice was provided on account for RMB 10,000, 10. On Nov.22d, Mr. Bai withdrew RMB 16,000 for personal use by Zhejiang University of Science and Technology. t provided in November. The total fees earned were RMB 50,000 in cash 11. On Nov 30, Dairy Queen recorded all ice creams delivery service it provided in November. The total 12. In November, 10 customers bought Dairy Queen VIP cards for RMB 5,000 in total 13. On Nov 31*, Dairy Queen paid telephone bill and electricity bill for November. They totaled RM Step 1 Analyzing and Recording Transactions in the journal B 250. The payment was made in cash Step 2 Posting transactions to the ledger Step 3 Preparing an unadjusted trial balance Step 4 Preparing a worksheet The following data have been assembled on Nov 31s, 2017 for analysis of possible adjustments for Dairy Queen. 1. 1/8 of insurance expired during November. 2. Supplies on hand on Nov.31st were RMB 5,000 3. The office equipment was depreciated using straight-line basis. 4. S. The wages of employees were deemed to be paid by the beginning of December. The total wages waiting to be paid were RMB 12,000 6. In November, VIP customers spent 500 at Dairy Queen using VIP cards. Step 5 Assembling and journalizing adjusting entries Step 6 Posting adjusting entries Step 7 Preparing an adjusted trail balance Step 8 Preparing the financial statements (Statement of Cash Flow not included) One month' rent expired in November Step 9 Journaling and posting closing entries Step 10 Preparing a post-closing trail balance

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