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please help me fill out questions 1,2,3, 3-a,3-b Required information The following information applies to the questions displayed below. On September 1. Pat Hopkins established
please help me fill out questions 1,2,3, 3-a,3-b
Required information The following information applies to the questions displayed below. On September 1. Pat Hopkins established Ona Cloud Corporation (OCC) as a provider of cloud computing services. Pat contributed $10,000 for 1,000 shares of OCC. On September 8, OCC borrowed $30,000 from a bank, promising to repay the bank in two years. On September 10, OCC wrote a check for $20,000 to acquire computer equipment. On September 15, OCC received $1,000 of supplies purchased on account and, on September 16, paid $1,500 for September rent Through September 22, OCC provided its customers $8,000 of services, of which OCC collected $6,000 in cash. On September 28, OCC paid $200 for Internet and phone service this month. On September 29, OCC paid wages of $4,000 for the month. Finally, on September 30, OCC submitted its electricity meter reading online and determined that the total charges for the month will be $300. This amount will be paid on October 14 through a preauthorized online payment. Assets Liabilities Stockholders' Equity September 01 September OB September 10 September 15 September 16 September 22 September 28 September 29 September 30 per events described above. (If no enquired for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 Record Pat's contribution of $10,000 for 1,000 shares of OCC. Note: Enter debits before credits. General Journal Debit Credit Date September 01 Record entry Clear entry View general journal Journal entry worksheet 3 4 5 6 7 8 9 Record the borrowing of $30,000 from a bank, promising to repay the bank in two years. Note: Enter debits before credits. Date General Journal Debit Credit September 08 Record entry Clear entry View general Journal MacBook Air View transaction list Journal entry worksheet 2 4 5 6 7 8 9 > Record the acquisition of computer equipment for $20,000. Note: Enter debits before credits General Journal Debit Credit Date September 10 Record entry Clear entry View general Journal MacBook Air Journal entry worksheet 1 2 3 5 6 7 8 9 Record the purchase and receipt of $1,000 worth supplies on account. Note: Enter debits before credits. Date General Journal Debit Credit September 15 Record entry Clear entry View general Journal MacBook Air Journal entry worksheet 2 3 4 6 3 7 8 9 Record the payment of $1,500 for September rent. Note: Enter debits before credits. General Journal Debit Credit Date September 16 Record entry Clear entry View general Journal MacBook Air Journal entry worksheet 1 2 3 4 5 7 8 9 Record the provision of services for $8,000, of which OCC collected $6,000 in cash. Note: Enter debits before credits. Date General Journal Debit Credit September 22 Record entry Clear entry View general Journal MacBook Air View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 Record the payment of $200 of Internet and phone service for the month of September. 3 Note: Enter debits before credits. Date General Journal Debit Credit September 28 Record entry Clear entry View general Journal MacBook Air View transaction list Journal entry worksheet Record the payment of $4,000 of wages for the month of September. Note: Enter debits before credits. Date General Journal Debit Credit September 29 Record entry Clear entry View general Journal MacBook Air View transaction list ed Journal entry worksheet 1 2 3 4 5 6 7 8 k 3 es On September 30, OCC submitted its electricity meter reading online and determined that the total charges for the month will be $300. This amount will be paid on October 14 through a preauthorized online payment. Note: Enter debits before credits. Date General Journal Debit Credit September 30 Record entry Clear entry View general Journal MacBook Air for the month. Finally, on September 30, OCC submitted its electricity meter reading online and determin charges for the month will be $300. This amount will be paid on October 14 through a preauthorized onli ht nces 3-a. Using your answer to part 1 or 2, calculate OCC's preliminary net income for September. Prellminary Net Income 3-b. Is OCC profitable, based on its preliminary net income? Yes O No MacBook Air Step by Step Solution
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