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Need help with this project, I am not very good at accounting and need help. b. Received $25,000 cash from EA, Inc., for licensing revenue
Need help with this project, I am not very good at accounting and need help.
b. Received $25,000 cash from EA, Inc., for licensing revenue earned in the month of January 2010 . c. Purchased 10 new computer servers for $33,500; paid $10,000 cash and signed a 3yr note for rest. d. Paid $10,000 for an Internet advertisement run on Yahoo! In January 2010. e. Sold 15,000 monthly subscriptions at $15 each for services provided during the month of January 2010. Half was collected in cash and half was sold on account. f. Received a utility bill for $7350 for January 2010 utility services. The bill will be paid in Feb. g. Paid $376,000 in wages to employees for work done in January 2010. h. Purchased $3,000 of supplies on account. i. Paid $3000 cash to the suppliers in (h). \begin{tabular}{|c|c|c|c|} \hline \multicolumn{2}{|c|}{ General Journal } & DR & CR \\ \hline a & Cash & 50,000 & \\ \hline & Accounts Receivable & & 50,000 \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Retained Earnings Utilities Expense Building Chapter 3 Project \begin{tabular}{|l|l|l|} \hline Advertising Expense & & \\ \hline Utilities Expense & & \\ \hline \end{tabular} Totals VGC Income Statement For the year ended January 31, 2010 Revenues: Expenses: \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline Net Income \\ \hline Statement of Retained Earnings \\ \hline For the year ended January 31,2010 \\ \hline Plus Net Income & \\ \hline Minus Dividends & \\ \hline Ending Retained Earnings & \\ \hline \hline \end{tabular} VGC Balance Sheet January 31, 2010 Current Assets: Current Liabilities: \begin{tabular}{|l|l|l|} \hline Accounts Payable & & \\ \hline Unearned Revenue & & \\ \hline Total Current Liabilities & & \\ \hline Noncurrent Liabilities: & & \\ \hline Notes Payable & & \\ \hline Total Liabilities & & \\ \hline \end{tabular} Stockholders' EquityStep by Step Solution
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