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need to know what I'm missing Sweet Shop Co is a chain of candy stores that has been in operation for the past ten years.
need to know what I'm missing
Sweet Shop Co is a chain of candy stores that has been in operation for the past ten years. For each of the following transactions give the accounting effects of the adjustments required. (Enter any decreases to account balances with a minus sign.) a. Ordered and received $12,800 worth of cotton candy machines from Candy Makers Inc., which Sweet Shop Co. will pay for in 45 days b Sent a check for $6,800 to Candy Makers Inc for the cotton candy machines from (a) c. Received $1,200 from customers who bought candy on account in previous months. d. To help raise funds for store upgrades estimated to cost $30,000, Sweet Shop Co. issued 1,800 common shares for $15 each to existing stockholders e Sweet Shop Co bought ice cream trucks for $76,000 total, paying $18,000 cash and signing a long term note for $58,000 Assets Liabilities a Equipment b. Cash c Cash 12,800 Accounts Payable (6,800) 1200 d Cash e Equipment Cash Total 76,000 18,000)Notes Payable (long-term) 56Step by Step Solution
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