Question
Peters Bowling Inc. operates several bowling centres (for games and equipment sales). The following transactions relate to the month of October. a. Peters collected $16,450
Peters Bowling Inc. operates several bowling centres (for games and equipment sales). The following transactions relate to the month of October. |
a. | Peters collected $16,450 from customers for games played in October. |
b. | Peters sold $11,450 in bowling equipment inventory; received $7,300 in cash and the rest on account; cost of sales is $7,100. |
c. | Peters received $5,300 from customers on account who purchased merchandise in September. |
d. | The bowling leagues gave Peters a deposit of $5,800 for the upcoming fall season. |
e. | Peters paid $6,300 for the September electricity bill and received the October bill for $6,930 to be paid in November. |
f. | Peters paid $8,300 to employees for work in October. |
g. | Peters purchased $2,490 in insurance for coverage from October 1 to December 31. |
h. | Peters paid $3,150 to plumbers for repairing a broken pipe in the washrooms. |
For each of the transactions above, complete the tabulation. (Remember that A = L + SE, R E = NE, and NE affects SE through retained earnings.) The first transaction is provided as an example. (Enter any decreases to account balances with a minus sign.)I I NEED HELP WITH THE REST OF THE MISSING INFORMATION.
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