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Please help to finish January and February Transactions, Income statement and Balance sheet First and Second pictures are the example of December Transactions, Income statement
Please help to finish January and February Transactions, Income statement and Balance sheet
First and Second pictures are the example of December Transactions, Income statement and Balance sheet
January Transactions
February Transactions
Ending 22,330 22,330 1. Purchased Photoshop software for $850 on account from Best Buy. 2. Mr. Jay invested $5,000 in the business. 3. Customer, John Davis, paid past due bill for $1,000. Beginning 4. Purchased 10 new computer mice for $25 a mouse with Debits 15,200 cash. Credits 15,200 5. Purchased 6 boxes of computer paper for $30 a box on account from Office Max. Assets 13,200 6. Paid cash for new flat screen monitors $2,000. Liabilities o 7. Paid $500 on Best Buy account. Owners 13,200 8. Bought Christmas cards with Cash for $50. Equity 9. Paid $100 on Office Max account. L+ O.E. 13,200 10. Received $1700 from Sales. 20,330 430 19,990 20,330 SUPPLIES SOFTWARE 850 10,000 5000 1000 1700 CASH 250 2000 500 200 180 50 COMPUTER HARDWARE 250 2000 50 100 430 850 2250 14,800 ACCT. RECI JOHN DAVIS 3,000 1000 ACCT. PAYI BEST BUY ACCT. PAYI OFFICE MAX 100 180 SALES 1700 500 850 2000 350 80 1700 RENT EXPENSE YTILITIES EXPENSE MR. JAY (CAPITAL) + 15,200 5000 MR. JAY (DRAWING) 2,000 20,200 2000 Create an Income Statement for the end of the month. JJ Web Solutions Income Statement For the month ended December 31, 2020 Revenue Sales 1700 Expenses Rent 0 0 Utilities Total Expense 0 Net Income 1700 Create a Balance Sheet for the end of the month. JJ Web Solutions Balance sheet December 31, 2020 Liabilities 14,800 350 430 80 Assets Cash Supplies Computer Hardware Computer Software Acct. Rec John Davos Total Assets 2250 430 Acc. Pay Best Buy Acct. Pay Office Max Total Liabilities Owner's Equity Mr. Capital Total Labilities & Owner's Equity 850 2000 19,900 20,330 20,330 Ending Note: Be sure to carry your existing T account totals from December to the T accounts for January. 1. Paid $750 for rent. 2. Purchased 25 new mouse pads for $10 a pad on account from Best Buy. Beginning 3. Customer, John Davis, paid bill of $325. Debits 4. Paid $350 on Best Buy account. Credits 5. Purchased 10 New Speakers sets for $50 a set. Paid $250 Assets with cash and put the remaining amount on account at Best Buy Liabilities 6. Mr. Jay took $6,000 to invest in another company. Owners 7. Bought $50 worth of pencils and pens on account with Equity Office Max. L+O.E. 8. Sold services to customer, John Davis, worth $1200 to be paid at a later date. 9. Purchased newest version of Dreamweaver (software) for $1,000 at Best Buy, paid with cash. 10. Paid $120 for telephone bill. CASH SUPPLIES COMPUTER SOFTWARE HARDWARE SALES ACCT. RECI JOHN DAVIS ACCT. PAY BEST BUY ACCT. PAYI OFFICE MAX RENT EXPENSE UTILITIES EXPENSE MR. JAY (CAPITAL) MR. JAY (DRAWING) Beginning Ending 1. Purchased Valentine's Day Decorations for $100 with cash. 2. Paid $250 cash for 5 new keyboards from Best Buy. 3. Purchased video editing software for $175 on account from Office Max. 4. Paid $130 on account to Office Max. 5. Bought 2 new software programs for $375 per program. Paid $200 in cash and put the rest on account with Best Buy. 6. Customer, John Davis, sent the business a check for $600. Mr. Jay invests $3,000 back into the business. 8. Paid $200 on Best Buy. 9. Bought an LCD projector for $500 on account at Best Buy. 10. Mr. Jay took $1,000 from the business. Debits Credits Assets Liabilities Owners Equity L+ O.E. 7. CASH SUPPLIES COMPUTER HARDWARE SOFTWARE SALES ACCT. RECI JOHN DAVIS ACCT. PAY/ BEST BUY ACCT. PAYI OFFICE MAX RENT EXPENSE UTILITIES EXPENSE MR. JAY (CAPITAL) MR. JAY (DRAWING)Step by Step Solution
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