Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Oct. 1 Aster Turane invested $45,000 cash, a $15,040 computer system, and $13,000 of office equipment in the business. 2 Paid six months of rent

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Oct. 1 Aster Turane invested $45,000 cash, a $15,040 computer system, and $13,000 of office equipment in the business. 2 Paid six months of rent in advance: $12,000. 3 Purchased computer supplies on credit for $1.975 from Triple-One Supplies. 5 Paid $8,640 cash for one year's premium on a property and liability insurance policy 6 Billed Norton Electric $6,300 for installing a new computer system. 8 Paid for the computer supplies purchased from Triple-One Supplies. 10 Hired Donald Gee as a part-time assistant for $345 per day, as needed. 12 Billed Norton Electric another $1,850 for computer services rendered. 15 Received $1,650 from Norton Electric on its account. 17 Paid $375 to repair equipment damaged when moving into the new office, 20 Paid $1,950 for an advertisement in the local newspaper 22 Received the balance owing from Norton Electric on its account. 28 Billed Whistler Resort $9,400 for services. 31 Paid Donald Gee for nine days' work. 31 Aster Turane withdrew $1.200 cash from the business for personal use. What is the balance of the computer equipment count at the month end? 15040 350.00 25040 5040 2 . 3 4 5 What is the balance of the office equimpent account at the month end? 14000 13000 15040 12000 How much is the repairs expense is this month? 760 350 O 375 750 What is the balance of the prepaid insurance account at the month end? 7600 8640 7640 7920 . 5 What is the balance of the cash account at the month end? 18925 24905 23905 21905 What is the balance of total current assets at the month end? 53200 48900 54200 48200 What is the balance of the computer supplies account at the month end? 1975 07675 1875 1775 How much is the advertising expense is this month? 1950 1800 1900 1850 What is the balance of the prepaid rent account at the month end? 10000 24000 8000 12000 How much is the computer service revenue is this month? 14550 13550 12550 17550 What is the balance of the total assets at the month end? 76240 B0240 081240 78900

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Mathematical Applications for the Management Life and Social Sciences

Authors: Ronald J. Harshbarger, James J. Reynolds

11th edition

978-1305108042

Students also viewed these Accounting questions

Question

Describe Statistics Use And Interpretation

Answered: 1 week ago