Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On 1 June 2022 Ethan opened a nail shop. Time left 1: 1. Complete the running balances on the general ledger accounts for the month

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
On 1 June 2022 Ethan opened a nail shop. Time left 1: 1. Complete the running balances on the general ledger accounts for the month of June 2022 2. Prepare the trial balance as at 30 June 2022 3. Prepare a statement of changes in Equity for the month of June 2022 Note: select [-] if no amount is required to enter. General ledger accounts ACCOUNT: Cash at Bank Date Explanation Debit Credit Balance 1/06/22 Ethan, Capital $150,000 e 2/06/22 Shop Supplies $3,000 . 3/06/22 Advertising Expense $5,000 > 5/06/22 Rent Expense $4,000 8/06/22 Equipment $10,000 Advertising Expense Insurance Expense Telephone Expense Ethan's Nail Shop Statement of Changes in Equity for the year ended 30 June 2022 Ethan Capital - 1 June 2022 $0 Add: Additional contribution Add: Profit for the year Deduct: Drawings during the year Ethan, Capital - 30 June 2022

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

Students also viewed these Accounting questions