Question
Please help me to answer the questions? 1. The following transactions occurred in the opening and operation of Landis's Delivery Service: A. Landis Saunders opened
Please help me to answer the questions?
1. The following transactions occurred in the opening and operation of Landis's
Delivery Service:
A. Landis Saunders opened the delivery service by investing $25,000 from her personal savings account.
B. Purchased used delivery trucks on account, $12,000.
C. Rent expense due but unpaid, $1,100.
D. Received cash for delivery, $1,500.
E. Billed a client on account, $600.
F. Landis withdrew cash for personal use, $700.
Complete a transaction analysis chart for each of the transactions. The chart of accounts for the shop includes Cash; Accounts Receivable; Delivery Truck; Accounts Payable; L. Saunders, Capital; L. Saunders, Withdrawals; Delivery Fees Earned; and Rent Expense.
Using a transaction analysis chart
After F:
Cash
(A) 25,000 700 (F)
(D) 1,500
2. Jian Sham opened his Construction Repair Shop in April 2023. The balance sheet at April 30, 2023 was prepared by a friend of his and is shown below. Make ready a corrected balance sheet.
Sham's Construction Repair Shop
Balance Sheet
April 30, 2023
Assets Liabilities & Equity
Equipment 44,100 Construction Supplies $ 28,350
Cash 12, 600 Loan Payable 56,700
J. Sham, Capital 53, 550 Accounts Receivable 94,500
Accounts Payable 69, 300
Total Equities $179,550 Total Assets $179,550
Total Assets $179,550
Make a balance sheet
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