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My profit and loss statement is off $ 4 , 9 3 0 , could you provide a profit and loss? The net income is
My profit and loss statement is off $ could you provide a profit and loss? The net income is as of Thank you!
Here are the transactions:
Following are the November and December transactions for Computer Solutions. The
company extends credit terms of n FOB shipping point, to all customers who purchase
merchandise. Computer Solutions uses a perpetual inventory system and uses the gross
method to record purchases and sales on account. Inventory is maintained using FIFO for
general ledger purposes.
The assignment requirements follow the transactions. Please make sure you read these
before recording the transactions in QuickBooks.
GJ Date
Nov. The company paid first mortgage payment to the bank which included
principal and interest.
Ramona leased a portion of the building to a restaurant called Sushi
Coma. The lease with Sushi Coma is for three years, with monthly rent of
$ The lease period begins November and Sushi Coma
paid for the first six months as part of the lease agreement.
The company recorded cash sales of $ The merchandise had a
cost of $
The company paid Kansas Corp. for the balance due, net of the cash
discount, less the $ amount in the credit memorandum.
The company paid $ cash to the local newspaper for an advertising
insert in todays paper.
Purchased merchandise with a cost of $ from Emerald Isle, Inc. a
new vendor, with terms of n FOB destination, invoice dated
November
The company paid October electric bill of $
Completed work for Gomez Co and billed them $ Invoice was
dated November
Received and paid bill from Horizon for phone and internet, $
The company received the balance due from Alexs Engineering Co for
fees billed on October
The company received $ balance from Wildcat Services.
The company sold merchandise to Dream, Inc., receiving a day note
for $ with interest of due at maturity. The merchandise cost
Computer Solutions $
The company paid salaries and wages to Lyn Addie and Ramona
Santana. Lyn Addie worked days work at $ per day, and
Ramona's semimonthly pay is $
The company sold merchandise with a $ cost for $ on credit
to Delta Co invoice dated November
KC Inc. paid balance of $
Received and paid invoice of $ from Old Dominion Moving for
services provided in association with the move to the new building
miscellaneous expense
The company paid salaries and wages to Lyn Addie and Ramona
Santana. Lyn Addie worked days work at $ per day, and Ramona's
semimonthly pay is $
Dec. The company paid bank mortgage payment which includes principal and
interest.
The company purchased $ of computer supplies from Harris Office
Products on credit, invoice dated December
Received and paid bill from Horizon for phone and internet, $
The company paid November electric bill of $
The company received the balance due from Delta Co for merchandise
sold on November
The company purchase merchandise with a cost of $ from Kansas
Corp. with terms of n FOB shipping point, invoice dated
December
The company paid you $ cash for accounting services provided.
Set yourself up as a vendor and charge to professional services.
The company paid salaries and wages to Lyn Addie and Ramona
Santana. Lyn Addie worked days work at $ per day, and
Ramona's semimonthly pay is $
The company received $ cash from Liu Corp., for computing
services provided.
Wrote off balance of West Leasing as uncollectible. The company plans
to use the allowance method.
The company paid the balance due Kansas Corp.
The company paid the full amount due to Harris Office Products,
consisting of amounts created on October and December
The company recorded cash sales of $ The merchandise had a
cost of $
The company sold merchandise with a $ cost for $ on credit
to Wildcat Services, invoice dated December
The company billed Dream, Inc. for $ of computing services
provided.
Computer Solutions received $ from KC Inc. as an advance for
work to be completed in
The company received the balance due from Wildcat Services for
merchandise sold on December
The company sold merchandise with a $ cost for $ on credit
to IFM Company, invoice dated December
The company paid salaries and wages to Lyn Addie and Ramona
Santana. Lyn Addie worked days work at $ per day, and
Ramona's semimonthly pay is $
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