Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need to find the income statement and balance sheet 1 / 1 69% + Assignment1 1) Mayi, 2019 Husiness owner open Renovation& design company and

Need to find the income statement and balance sheet
image text in transcribed
1 / 1 69% + Assignment1 1) Mayi, 2019 Husiness owner open Renovation& design company and invested $300,000 in business bank account 2) May 1, 2019 Business bought supplies $1000, but the money will be paid in the future 3)May 1, 2019 business paid a one year rent for $24,000 4) May2, 2019 Business bought a computer and a printer for $9,000 paid in cash, the useful life of the machine is 10 years 5) May3, 2019 business bought the floor materials required to complete upcoming renovation Project#1 for $3500, paid in cash 6) May3, 2019 business use the 5 year auto financing $24,000 to purchase a truck (Loan interest is 10%, which will be paid at the end of 5 years with the principal and truck's useful life is 5 years) 7)May5, 2019 business signed a Projecta $35,000 agreement. The project will be finished during the month and hired a group of contractors to help the project 8)May7, 2019 business paid the owing money for the purchase of the supplies in transaction 2) 9)May 14, 2019 business paid the front desk employee $1.500 wages in cash 10)May15, 2019 business completed the projecte and received the money $35,000 11) May 16, 2019 business paid $10,000 to the contractors for help to complete the Project 1 12) May 16, 2019 business confirm $2000 materials already been used for projects 13) May 17, 2019 business complete the basement design service project2 58,000 for the customer. The money will be received in the near future 14) May 18, 2019 business owner withdrew $3,000 cash from the business bank acc 15) May 28, 2019 business paid front employee wages again in cash 16) May 10, 2019 received the utility bill 5800 for the electricity and energy used during the month paid in cash 17) May 31, 2019 business found only $400 supplies left over there 18 May 31, 2019 business need to record the current month rent expense since the business has been tenact for the whole month of May 19) May 1, 2019 business need to incord the used up part of the equament 20) May 1, 2019 but need to record the used op part of the truc 21 May 2019 recorde the movies at the above moldin

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Actuarial Science

Authors: John James Hardy

1st Edition

1332733697, 978-1332733699

More Books

Students also viewed these Accounting questions