Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Part III - Financial Accounting: Using the following information add the transactions to T-accounts and Journal transactions. Scenario: You are the administrative assistant to the
Part III - Financial Accounting: Using the following information add the transactions to T-accounts and Journal transactions.
Scenario: You are the administrative assistant to the Real Art Studio and are required to input financial data into the journal and T-accounts.
Here is the financial data you are working with for the month of November
Date | Transaction |
nov 1 | Owner put in $15,000 to begin art studio business |
nov 2 | Investors input $8,000, were granted company stock |
nov 3 | Bank approved $10,000 loan |
nov 4 | Canadian Crafter bought craft supplies on account for $499.00 plus tax, invoice number 18-210; 30 days to pay |
nov 4 | Cash received for creating a business sign for Three Ladies Stained Glass Craft Company for $300 plus tax, invoice number 18-211 |
nov 5 | Paid wages of $800.00 |
nov 9 | Bought supplies from Brushes and Things Co. $700 plus tax on account, PO # 3-781 |
nov 10 | Received partial payment from Canadian Crafters for $200 |
nov 15 | Purchased supplies for $300 plus tax from Business Depot on account, PO # 3-782, 30 days to pay |
nov 21 | Owner withdrew $1000 for personal use |
nov 29 | Ran an evening art studio paint class, $900 cash from participants plus tax |
nov 30 | Paid rent of $1500 plus tax in cash |
Auto Save OFF AAGO... Assignment #9 (1) ) Home - Insert Draw Design Layout References Mailings Review View Tell me Share Comments X C Calibrl (Bo... v 11 v P 21 T Mabb Codle Mauboucle ABECEDAR CODE AaBb Bb C D E 0 E Paste B u x x I Uv X A2A NAN = = = Titw Sulit No Sin Y Handling 1 v V Editor Dictate Styles Pane Real Art Studio Details Particulars Debit Date 01 Nov Credit 02 Nov 03-Nov 04-Nov 04 Nov 05-Nov 09 Nov 10-Nov Page 8 of 9 693 words CX English (Canada) ON Focus F LE -35% Auto Save OFF AvO6.. Assignment #9 (1) ) Home - Insert Draw Design Layout References Mailings Review View Tell me Share Comments X C Calibrl (Bo... v 11 v Aav vvv T Mabb Codle Mauboucle ABECEDAR CODE AaBb Bb C D E 0 E Paste B u x x I Uv X Nam Tich = = = = AA Not Song Sulit Hanna 1 v Y Editor Dictate Y Styles Pane G 15-Nov 21-Nov 29-Nov 30-Nov! Page 9 of 9 693 words CX English (Canada) Focus F LE -35% Auto Save OFF AvO6... Assignment #9 (1) Home Insert Draw Design Layout References Mailings Review View Picture Format Tell me Share Comments Calibri (Bo... 11 v Aav 1 T Malboodle Mauboucle AaBbccDc AaB CODE AaBb AzbC=Ddt 0 E LG Paste B ] I U au XX Ua0 x ADA Nam No Se Tith Handling 1 ewing = = = Suhtiin Y Dictate Editor Styles Pane G Cash Bank Loan (Notes Payable TOTAL TOTAL TOTAL DR-CR A/P - Brushes & Things Co AVR-Canadian Crafter's TOTAL DR.CR AIP - Business Depot 47444 Craft Supplies Wages TOTAL DR-CR E FH Office Supplies HST Payable HST Receivable TOTAL TOTAL Page 6 of 9 693 words CS CX English (Canada O Focus F 213% Auto Save OFF AvO6... Assignment #9 (1) Home Insert Draw Design Layout References Mailings Review View Picture Format Tell me Share Comments X Calibrl (Bo... v 11 VAA Aav 1 T Mabb Codle Malbuce ABECEDAR CODE AaBb Bb C D E Paste Nam = = = BI B I U 6 x x X X handling No Spa A Titw Handg1 Suntit Styles Pare Dictate Editor G Owner's Captal TOTAL Stock Revenue TOTAL Rent ERE Page 7 of 9 693 words English (Canada) O Focus F 213%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started