need general ledger T accts filled out
Common stock is issued in exchange for cash in the amount of.. The company purchases and pays for 170 units of gourmet dog food at a price of $25 per unit The company pays cash for a one-year insurance policy in the amount of Rent on a retail space for 12 months is paid in the amount of ....mu Grooming and boarding equipment with a useful life of 2 years is purchased for cash in the amount of Grooming supplies purchased on account in the amount of The company parchases and pays for another 380 units of gourmet dog food at a price of $s29 per uni... Grooming services are performed on account in the amount of The company pays for advertisements to be run for the next 12 months in the amount of The company issues a 5-year bond with a face value of $100,000 and a stated annual rate of 6%. Interest is due on June 30th each year. The market rate is 8% on the date of issuance Dog-walking services are performed on account in the amount of anuary 1st February 8th March 1st March 31st 395,000 4,250 13,480 22,000 April 10th May 15th May 30th une 1st 11,020 12,625 964 July 25th July 31st 100,000 14,522 105 units of gourmet og food are sald for 5oper unit wth erms 2/10,n/30. The sale is resoded using the gross method in the amount of Gsee note c for cost flow assumptions) August 2ndBoarding services are provided on account in the amount of.. 7,350 The company receives full payment from the customer for the July 31st sale August 6th September 15th Pet sitting services are performed on account in the amount of October 13th Customer payments are received for services previously provided in the amount of... 100 units of gourmet dog food are sold for $73 per unit with terms 2/10, n/30. The sale is recorded using 6,345 1,350 the gross method in the amount of 7.300 ret sitting services are perrormea on accounrin the amount or...ocec.www.. September 29th Customer payments are received for services previously provided in the amount of.. October 13th 0,345 1,350 100 units of gourmet dog food are sold for $73 per unit with terms 2/10, n/30. The sale is recorded using the gross method in the amount of The company receives payment for half of the October 13th sale Equipment originally purchased on April 1st for $2400 is sold for $2000 cash 7,300 3,650 November 1st November 15th December 15th A bookkeeper is hired to help the company with daily accounting taxes and annual tax preparation The bookkeeper is paid $4,500 for the previous month's services Additional information: a. Grooming supplies on hand at the end of the month are as follows:.... b. The year-end balance reported at the end of the year for the Allowrance for Doubtful Accounts 924 is estimated as 4% of outstanding receivables at the end of the year c. The Company uses a perpetual inventory system and accounts for costs using the First-In-First-Out cost Bow assumption. On December 31st, a count of ending inventory reveals that there are 345 bags of dog food on hand. d. All revenue is recorded in the "Sales Revenue" account and reported net of cash discounts on the income statement. e. The effective interest method is used to amortize bond premiums and discounts f. Adjustments are made at the end of the year for prepaid insurance, rent, advertising, depreciation, andipterest expense. g The bookkeeper is paid a salary of $4,500 on the 15th of every month. h. The company declared dividends of $750 for the year i. Assume selling expenses include advertising and supplies expense. All other expenses, other than depreciation and interest expense, are considered general & administrative
