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please help.. there are 4 parts. answer each section please UPDATE; Part 1 ( read A-f and put them into the column that they belong.
please help.. there are 4 parts. answer each section please
UPDATE; Part 1 ( read A-f and put them into the column that they belong.
Required information [The following information applies to the questions displayed below.] Bailey Delivery Company, Incorporated, was organized in 2021 in Wisconsin. The following transactions occurred during the year: a. Received cash from investors in exchange for 15,000 shares of stock (par value of $1.00 per share) with a market value of $10 per share. b. Purchased land in Wisconsin for $26,000, signing a one-year note (ignore interest). c. Bought two used delivery trucks for operating purposes at the start of the year at a cost of $13,000 each; paid $2,000 cash and signed a note due in three years for the rest (ignore interest). d. Paid $1,700 cash to a truck repair shop for a new motor for one of the trucks. (Increase the account you used to record the purchase of the trucks because the productive life of the truck has been improved) e. Sold one-fourth of the land for $6,500 to Pablo Development Corporation, which signed a six-month note. f. Stockholder Helen Bailey paid $28,500 cash for a vacant lot (land) in Canada for her personal use. Required: 1. Using the T-accounts, record the effects of transactions by Bailey Delivery Company. Required information [The following information applies to the questions displayed below.] Bailey Delivery Company, Incorporated, was organized in 2021 in Wisconsin. The following transactions occurred during the year: a. Received cash from investors in exchange for 15,000 shares of stock (par value of $1.00 per share) with a market value of $10 per share. b. Purchased land in Wisconsin for $26,000, signing a one-year note (ignore interest). c. Bought two used delivery trucks for operating purposes at the start of the year at a cost of $13,000 each; paid $2,000 cash and signed a note due in three years for the rest (ignore interest). d. Paid $1,700 cash to a truck repair shop for a new motor for one of the trucks. (Increase the account you used to record the purchase of the trucks because the productive life of the truck has been improved) e. Sold one-fourth of the land for $6,500 to Pablo Development Corporation, which signed a six-month note. f. Stockholder Helen Bailey paid $28,500 cash for a vacant lot (land) in Canada for her personal use. 2. Prepare a trial balance at December 31, 2021. Required information [The following information applies to the questions displayed below.] Bailey Delivery Company, Incorporated, was organized in 2021 in Wisconsin. The following transactions occurred during the year: a. Received cash from investors in exchange for 15,000 shares of stock (par value of $1.00 per share) with a market value of $10 per share. b. Purchased land in Wisconsin for $26,000, signing a one-year note (ignore interest). c. Bought two used delivery trucks for operating purposes at the start of the year at a cost of $13,000 each; paid $2,000 cash and signed a note due in three years for the rest (ignore interest). d. Paid $1,700 cash to a truck repair shop for a new motor for one of the trucks. (Increase the account you used to record the purchase of the trucks because the productive life of the truck has been improved) e. Sold one-fourth of the land for $6,500 to Pablo Development Corporation, which signed a six-month note. f. Stockholder Helen Bailey paid $28,500 cash for a vacant lot (land) in Canada for her personal use. 3. Prepare a classified balance sheet for Bailey Delivery Company at December 31, 2021. Required information [The following information applies to the questions displayed below.] Bailey Delivery Company, Incorporated, was organized in 2021 in Wisconsin. The following transactions occurred during the year: a. Received cash from investors in exchange for 15,000 shares of stock (par value of $1.00 per share) with a market value of $10 per share. b. Purchased land in Wisconsin for $26,000, signing a one-year note (ignore interest). c. Bought two used delivery trucks for operating purposes at the start of the year at a cost of $13,000 each; paid $2,000 cash and signed a note due in three years for the rest (ignore interest). d. Paid $1,700 cash to a truck repair shop for a new motor for one of the trucks. (Increase the account you used to record the purchase of the trucks because the productive life of the truck has been improved) e. Sold one-fourth of the land for $6,500 to Pablo Development Corporation, which signed a six-month note. f. Stockholder Helen Bailey paid $28,500 cash for a vacant lot (land) in Canada for her personal use. At the end of the next two years, Bailey Delivery Company reported the following amounts on its balance sheets: ompute the company's current ratio for 2021, 2022, and 2023. lote: Round your answers to 2 decimal placesStep by Step Solution
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