Question
Kiger Kayaking, a sporting goods retailer, began operations on August 1 with the following transactions during the first month of operation. Fill in the following
Kiger Kayaking, a sporting goods retailer, began operations on August 1 with the following transactions during the first month of operation. Fill in the following table, including the net income and change in cash balance.
Accrual | Cash | ||
A | B | Aug 1 | Paid August office rent of $20,000 |
C | D | Aug 5 | Purchased and paid $160,000 for merchandise inventory |
E | F | Aug 16 | Sold merchandise for $270,000 that cost $100,000 wholesale. Received cash from customers for these sales. |
G | H | Aug 17 | Received and paid a $7,500 advertising bill for August, September, and October. |
I | J | Aug 30 | Paid September office rent of $20,000 |
K | Aug 31 | Change in cash balance | |
L | Aug 31 | August net income |
1. The number that belongs in box A (including the minus sign if necessary) is?
2. The number that belongs in box B (including the minus sign if necessary) is?
3.The number that belongs in box C (including the minus sign if necessary) is?
4.The number that belongs in box D (including the minus sign if necessary) is?
5.The number that belongs in box E (including the minus sign if necessary) is?
6. The number that belongs in box F (including the minus sign if necessary) is?
7.The number that belongs in box G (including the minus sign if necessary) is?
8. The number that belongs in box H (including the minus sign if necessary) is?
9. The number that belongs in box i (including the minus sign if necessary) is?
10. The number that belongs in box j (including the minus sign if necessary) is?
11. The number that belongs in box K (including the minus sign if necessary) is?
12. The number that belongs in box L (including the minus sign if necessary) is
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