Question
Journalize the five transaction s for Mirmax Rentals described below: August 1 Mirmax purchases two new saws on credit at $375 each. The saws are
Journalize the five transactions for Mirmax Rentals described below:
August 1 Mirmax purchases two new saws on credit at $375 each. The saws are added to Mirmaxs rental inventory. Payment is due in 30 days.
August 8 Mirmax accepts advance deposits for tool rental of $75 that will be applied to the cash rental when the tools are returned.
August 15 Mirmax receives a bill from Macon Utility Company for $150. Payment is due in 30 days.
August 20 Mirmax charges Customers $750 for tool rentals. Payment is due in 30 days.
August 31 Mirmax receives $500 in payments from the customers that were bill for rentals on August 20.
Given the following balances for Garrys Tree Service, prepare a Trial Balance
Cash | $30,000 |
Supplies | 1,000 |
Accounts Payable | 8,000 |
Garry Ryan, Capital | 36,800 |
Wage Expenses | 2,000 |
Machinery | 24,000 |
Wages Payable | 3,600 |
Service Revenue | 22,500 |
Rent Expenses | 10,000 |
Unearned Revenue | 4,000 |
Accumulated Depreciation-Machinery | 7,600 |
Prepaid Rent | 12,200 |
Garry Ryan, Drawing | 3,300 |
Financial Statements
Prepare an Income Statement, Statement of Owners Equity and Balance Sheet
Steve Austins Company Adjusted Trial Balance As at December 31, 2017 | ||
|
|
|
Cash | $4,000 |
|
Account Receivable | 5,300 |
|
Prepaid Expenses | 420 |
|
Equipment | 12,400 |
|
Accumulated Depreciation |
| $2,200 |
Accounts Payable |
| 800 |
Notes Payable |
| 3,070 |
Steve Austin, Capital |
| 13,000 |
Steve Austin, Drawing | 800 |
|
Revenue |
| 11,800 |
Wages Expenses | 2,450 |
|
Rent Expenses | 1,900 |
|
Utilities Expenses | 1,475 |
|
Depreciation Expenses | 1,150 |
|
Miscellaneous Expenses | 975 |
|
Totals | 30,870 | 30,870 |
Problem 3 Financial Statements Income Statement It should be in excel format could not upload the excel form that I had worked on boy should be in
Problem 3 Financial Statements
Income Statement Income Statement
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started