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please help due tomorrow. I need help with journal entries and balance sheet the most. thank you Sider 2 Accounting Cycle Short Review Extra Credit
please help due tomorrow. I need help with journal entries and balance sheet the most. thank you
Sider 2 Accounting Cycle Short Review Extra Credit Carmen Dahlen opened a secretarial school called Star Secretarial Training, Inc. a. Dahlen contributed the following assets to the business in exchange for 15.700 shares of S1 par value common stock: Cash $8,500 Computers 5,000 Office Equipment 2,200 b. Paid the first month's rent, $300. c. Paid for an advertisement announcing the opening of the school, $200. d. Received application from three students for a four-week secretarial program and two students foi keyboarding course. The students will be billed a total of $1,500. e. Purchased supplies on credit, $450. f. Billed the enrolled students, $1,500. 8. Purchased a second-hand computer, $500, and office equipment, $300, on credit. h. Paid for the supplies purchased on credit in (e). $450. i. Paid cash to repair a broken computer, $40. j. Received partial payment from students previously billed, $1,200. k. Paid the utility bill for the current month, $100. 1. Paid an assistant one week's salary, $400. m. Declared and paid a dividend of $300. Required. 1. Set up the following T accounts and prepare the journal entries: Cash; Accounts Receivable; Supplies Computers; Office Equipment; Accounts Payable; Common Stock: Dividends: Tuition Revenue; Salaries Expense; Utilities Expense; Rent Expense; Repair Expense; and Advertising Exxpense. 2. Post the journal entries to the corresponding T accounts. 3. Prepare an unadjusted trial balance. 4. Prepare an income statement, statement of stockholders' equity, and balance sheetStep by Step Solution
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