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journal entries i just need the Journal entries Dave and Tink started a Company Shade Store, Inc.. They sell Bedframes to the public and also
journal entries
i just need the Journal entries
Dave and Tink started a Company "Shade Store, Inc.". They sell Bedframes to the public and also teach courses related to the Bedding Industry. They prepare their financials on a monthly basis. They also use a perpetual inventory system. 8:397 Insu.blackboard.com PROBLEM NI - JOURNAL ENTRIES Dave and Tink started a Company "Shade Store, Inc.". They sell Bedframes to the public and also teach courses related to the Bedding Industry. They prepare their financials on a monthly basis They also use a perpetual inventory system. 1/1 - Dave Contributed $9,000 in exchange for company stock in Shade Store Inc 1/2 - Tink contributed $5,000 of Equipment and S4,000 in cash in exchange for company stock in Shade Store Inc. 1/3 - Shade Store paid $3,600 for a 1 year insurance policy from Farmers Insurance. The policy effective start date is 1/1/XI. 1/4 - Shade Store purchases 15 units of Bed Frame Inventory from Haines Bedding on credit with the terms 2/10, N30, $1.500 1/5 - Shade Store purchases $1,700 of supplies on account from Amazon.com 1/6 - Shade Store return 3 units of inventory back to Haines Bedding that were defective. Haines Bedding issued Shade Store a credit 117 - Shade Store went to Home Depot and Purchased $20,000 worth of Equipment. They had to put 20% cash down and financed the remainder of the purchase price with a 5 year Note. 1/8 - Shade Store received S24.000 from Client #1 for 12 months of consulting classes that take place the last day of cach month. The first class will start on 1/31/XI. 1/9 - Shade Store sold 6 bedframes to Client #2 on account with the terms, 1/10, N30, $3,000 1/10- Shade Store pays $425 to Advertise in Black Brand Publication 1/11 - Shade Store pays GG Property Solutions $375 for repair services (fixing plumbing and electrical issues). 1/12 - Shade Store pays $1,450 for Office Rent. 1/13 - Shade Store sent the payment that was due to Haines Bedding for the bedframe inventory purchased on 1/4 1/14 - Shade Sted the full..cment from Client Tuonommin ti #2 relating to the transaction on 1/9. 1/15 - Shade Store pays $675 towards the balance they owe to Amazon.com 1/16 - Shade Store sells to 3 bedframes to Client #3 for a total of $1,800 cash. 1/17 - Tink and Dave each receive $500 dividend from Shade Store ($1,000 total). Tink and Dave will use these funds for their personal use. 1/18 - Client #3 returns 1 of the bedframes they purchased on 1/16 back to Shade Store. Shade Store gave them a cash refund Step by Step Solution
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